The turnover from January to March 2022 increased and the operating result improved compared to the previous year.

January–March 2022

  • Turnover amounted to 27.0 million euros (19.9), i.e. a variation of 35.9%
  • Comparable operating result was EUR 0.1 million (-1.4)
  • The operating result was €0.1 million (-2.0)
  • Operating profit by revenue was 0.4% (-10.1%)
  • The result for the period was EUR 0.0 million (-2.3)
  • Earnings per share amount to EUR -0.01 (-0.56)


Outlook for 2022

Martela expects its turnover to increase by more than 10% compared to the previous year and its operating result to be positive.

Key figures, millions of euros

2022 2021 Switch 2021
1-3 1-3 % 1-12
Revenue 27.0 19.9 35.9% 91.9
Operational results 0.1 -2.0 -1.3
Operating results % 0.4% -10.1% -1.4%
Earnings before tax -0.1 -2.4 -2.3
Result for the period 0.0 -2.3 -2.4
Earnings/share, euro -0.01 -0.56 -0.53
Return on investment % 2.5 -30.9 -4.7
Return on equity % -0.4 -22.2 -21.3
Equity ratio % 23.6 21.8 8.3% 22.2
% gear 67.8 54.2 25.1% 74.8

Ville Taipale, CEO:

“The first quarter of this year was defined by the corona pandemic and the war in Ukraine, which caused general uncertainty in the market. Despite this, we were able to increase our revenues by 35.9% in the first quarter compared to the same period last year.The turnover for the first quarter amounted to 27.0 million euros.

New orders continued to increase, particularly in the commercial sector and in all market sectors.

Our operating result improved significantly in the first quarter compared to the same period last year and amounted to 0.1 million euros. The operating result has naturally been positively impacted by the increase in turnover, but above all the recent actions that have been taken in terms of improving the cost structure as well as determined work to manage the rise in the price of raw materials. and maintain selling prices.

I am extremely pleased that our hard work to improve our cost structure, our offering and our way of working has started to translate into our performance. This work will further enhance our position as a leading sustainable workplace specialist in the future. This has been achieved through our committed and professional employees and demonstrates what can be achieved with unwavering cooperation.

The war in Ukraine and the resulting uncertainty had a negative impact on the overall market situation as well as on the prices and supply of raw materials. It is difficult at this stage to assess the impact that this will have in the medium term on the development of our turnover and the performance of our results.

We believe work environments will change permanently in the future. The coronavirus pandemic has accelerated the process of changing the way we work. The office is just one of the many places we work, and for some of us, the amount of remote work will increase for good. This will increase the demand for flexible workspaces and the need to invest in remote working arrangements. We will continue with our customers to be a forerunner in creating user-centric work environments, which will improve user experience, efficiency and innovation capabilities while reducing overall costs. We will meet our customers’ needs for increased flexibility in the workplace through our WaaS concept, which we piloted and actively developed over the past winter. Interest in our concept has been encouraging and we expect it to have a positive impact on our business. »

Market situation

The phasing out of restrictions caused by the corona pandemic had a positive impact on Martela’s market environment. Simultaneously, the war in Ukraine sowed uncertainty in the market and caused drastic increases in commodity prices as well as a restriction in the supply of materials. It is too early to say what impact this will have on the overall market situation in the medium term.


A briefing will not take place, but additional information may be requested by telephone from the CEO Ville Taipale on Friday 6and of May 2022 from 11 a.m. to 1 p.m. EET

Martela Corporation
board of directors

City of Taipale

More information
Ville Taipale, CEO, +358 50 557 2611
Kalle Lehtonen, CFO, tel. +358 400 539 968

Nasdaq OMX Helsinki
Main news media

Our strategic direction is defined by our “Work Better” mission and our “People-Centred Workplaces” vision. Martela provides user-centric workplaces where users and their well-being matter most. We focus on the Nordics because, based on our culture and common needs for open work, the Nordics are leaders in hybrid workplaces.

  • 2022_0506 T1 interim report

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