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Martela

0.78 EUR

-2.26 %

4,375 following

MARAS

NASDAQ Helsinki

Home Products

Consumer Goods & Services

-2.26 %
-30.97 %
-16.49 %
-0.76 %
-7.80 %
-13.33 %
-67.90 %
-70.11 %
-92.14 %

Martela designs, implements and maintains work environments. The product portfolio is broad and consists of chairs, sofas, tables, storage and other office accessories. In addition, a wide range of services are offered, including ergonomic guidance, office interior design, design, needs analysis and premises maintenance, as well as removal and recycling services. The company is headquartered in Helsinki.

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Market cap
3.62M EUR
Turnover
6.63K EUR
P/E (adj.) (25e)
-1.01
EV/EBIT (adj.) (25e)
-15.59
P/B (25e)
-1.48
EV/S (25e)
0.27
Dividend yield-% (25e)
-
Coverage
Recommendation
Sell
Target price
0.50 EUR
Updated
2025-12-11
Disclaimer
Thomas Westerholm
Thomas Westerholm

Analyst

Latest research

Latest analysis report

Released: 2025-12-11

Revenue and EBIT-%

Revenue M

EBIT-% (adj.)

EPS and dividend

EPS (adj.)

Dividend %

Risk
Business risk
Valuation risk
Low
High
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Research by
Thomas Westerholm

Martela Q2'25: Första intrycket av resultatvändningen

Martelas Q2-omsättning var en omsättningsmiss, men den strama kostnadsstrukturen lyfte marginalen till en starkare nivå än våra förväntningar. Bolagets kostnadsbesparingsprogram verkar ha en bättre effekt på marginalen än våra förväntningar, vilket har resulterat i att vi har höjt våra marginalestimat för de närmaste åren.

Martela
Martela Q2’25: Stark prestation från ett säsongsmässigt svårt kvartal
Analyst Comment by
Thomas Westerholm

Martela Q2’25: Stark prestation från ett säsongsmässigt svårt kvartal

Martelas Q2-rapport var starkare än våra förväntningar, då omsättningens återhämtning och en stram kostnadsstruktur drev företaget till ett lönsamt rörelseresultat under ett undantagslöst lugnt Q2. Företaget går in i slutet av året med goda förutsättningar, med en betydligt starkare orderstock än jämförelseperioden och en stramare kostnadsstruktur.

Martela
Forum discussions
Yle had an interesting story about the Finnish furniture industry. Industry players accuse Martela’s competitor, Isku, of manipulating public procurement tenders and the state’s joint procurement company Hansel of silently condoning the matter. Last December, Isku was excluded from...
10/2/2025, 8:06 AM
by Thomas Westerholm
8
Expected result again. I think I’ll get rid of the last few shares while I can still get some money for them. I really don’t understand why I’ve kept them at all However, this is no surprise, considering the company’s communication: Even the Finnish headline is bleak, but the English...
12/11/2025, 11:41 AM
by Timo™
7
Martela’s share target prices sound theatrical. A target price of €0.70 means a market capitalization of €3.2M, and a target price of €0.50 is a market capitalization of €2.3M. If the communication were changed to be market-cap-based, it could go as follows: “The analyst estimates...
12/11/2025, 8:11 PM
by Bensatankki
4
Here is a fresh company report from Thomas on Martela following a negative profit warning. Martela issued a sharp negative profit warning, due to which we have lowered our forecasts. The profit warning was a clear disappointment, as the seasonally important Q4 is expected to be markedly...
12/11/2025, 2:18 PM
by Sijoittaja-alokas
2
And here are the follow-up comments, or rather Thomas’s quick comments on the Q2 results. Inderes Martela Q2’25 -pikakommentti: Vahva suoritus kausiluonteisesti vaikealta... Martelan Q2-raportti oli odotuksiamme vahvempi, sillä liikevaihdon elpyminen ja kireä kulurakenne siivittiv...
8/13/2025, 8:05 AM
by Sijoittaja-alokas
2
Thomas has prepared a new company report on Martela after the Q3 results were released. Martela’s Q3 report fell short of our expectations due to weak development in new orders. However, supported by cost savings, the company improved its earnings level. In our view, the stock’s ...
11/13/2025, 6:09 AM
by Sijoittaja-alokas
1
Here are Thomas’s quick comments on the Q3 results. In Martela’s Q3 report, declining orders were the key surprise, leading to weaker revenue and profitability than our expectations. Driven by cost savings and an improved gross margin, the company was able to improve its profitability...
11/12/2025, 8:56 AM
by Sijoittaja-alokas
1
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