Martela (MARAS) Q3 2025 earnings summary

Executive summary

• Revenue for January–September 2025 increased by 14.5% year-over-year to EUR 70.9 million, with operating result improving to EUR -1.2 million from EUR -4.8 million.

• Third quarter operating result turned positive at EUR 0.3 million, compared to EUR -0.9 million in the same period last year.

• Efficiency measures and cost reductions contributed to improved profitability, despite ongoing market challenges.

• Revenue growth was driven by Finland, Sweden, and Norway, while new orders slightly declined by about 1% year-over-year.

Financial highlights

• Q3 2025 revenue was EUR 20.7 million, flat year-over-year; operating profit margin improved to 1.3% from -4.5%.

• Net result for January–September was EUR -2.9 million, a significant improvement from EUR -6.1 million year-over-year.

• Earnings per share for January–September improved to EUR -0.63 from EUR -1.32.

• Cash flow from operating activities was EUR 1.6 million, up from EUR -0.3 million in the prior year.

Outlook and guidance

• Full-year 2025 revenue is expected to increase compared to the previous year, with comparable operating profit anticipated to be close to zero.

• Management remains focused on profitability and cash flow improvements for the remainder of 2025.