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Martela Q3 revenue falls on weak Nordic demand

By Reuters News


Overview

  • Finland office furniture maker's Q3 revenue fell 43% on weak Nordic demand and project delays

  • Comparable operating result turned negative, mainly due to lower delivery volumes

  • Company completed share issue in October, raising about EUR 7.2 mln gross proceeds


Outlook

  • Martela sees 2026 revenue at EUR 66–73 mln

  • Company expects 2026 comparable operating result to be negative EUR 1–3 mln

  • Martela does not expect significant strengthening of demand in 2026


Result Drivers

  • WEAK NORDIC DEMAND - Co said demand was considerably weaker than expected, especially in Finland and Sweden, with customer uncertainty and project postponements affecting order intake and revenue

  • LOWER DELIVERY VOLUMES - Co said the main reason for the negative operating result was a significant decrease in delivery volumes

  • ORDER INTAKE DECLINE - Total new orders fell about 29% in the period, with decreases in all Nordic countries, though export markets outside the Nordics saw an increase


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Revenue

Miss

EUR 11.80 mln

EUR 18 mln (1 Analyst)

Q3 Loss Per Share

EUR 0.30

Q3 Net Loss

EUR 1.40 mln

Q3 Adjusted EBIT

-EUR 1 mln

Q3 EBIT

-EUR 800,000


Analyst Coverage

  • The one available analyst rating on the shares is "sell"

  • The average consensus recommendation for the business support supplies peer group is "buy."

  • Wall Street's median 12-month price target for Martela Oyj is €0.50, about 14.1% below its November 10 closing price of €0.58


Reuters Recommended Reads

  • Nov 9 - Nordic region risks winter energy cost spikes, Denmark's Mind Energy says

  • Nov 10 - Norway's Leroy Seafood Q3 operational EBIT jumps on lower farming costs, cuts 2026 forecast

  • Nov 9 - Estonia's Tallinna Sadam Q3 revenue rises on cruise, ferry growth


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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