Martela (MARAS) Q1 2025 earnings summary

Executive summary

• Revenue for Q1 2025 increased by 26.6% year-over-year to EUR 25.6 million, with growth in Finland, Sweden, and Norway, but a decrease in other markets.

• Operating result improved to EUR -1.6 million from EUR -2.2 million year-over-year, but remained negative due to lower-margin projects and restructuring costs.

• Net result for the period was EUR -2.1 million, an improvement from EUR -2.7 million in Q1 2024.

• Order intake rose by 12% and order backlog was up 30% year-over-year, reflecting strengthening demand.

• Efficiency and profitability measures are underway, with full benefits expected in upcoming quarters.

Financial highlights

• Revenue: EUR 25.6 million (Q1 2024: EUR 20.2 million), up 26.6% year-over-year.

• Operating result: EUR -1.6 million (Q1 2024: EUR -2.2 million), operating margin -6.1% (Q1 2024: -11.0%).

• Net result: EUR -2.1 million (Q1 2024: EUR -2.7 million).

• Earnings per share: EUR -0.45 (Q1 2024: EUR -0.60).

• Cash flow from operating activities: EUR -0.2 million (Q1 2024: EUR -0.1 million).

Outlook and guidance

• Revenue for full-year 2025 is expected to increase compared to 2024.

• Comparable operating profit is anticipated to be close to zero for 2025.