Martela
0.942
EUR
+0.21 %
MARAS
NASDAQ Helsinki
Home Products
Consumer Goods & Services
4,355 following
+0.21%
-22.47%
-8.54%
-21.17%
-26.12%
-32.47%
-58.5%
-72.46%
-90.51%
www.martela.com/about-us/about-martela/investors
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 is offered that concern ergonomic guidance, office furnishings, design, needs analysis and room maintenance, as well as relocation and recycling services. The company is headquartered in Helsinki.
P/E (adj.) (24e)
-0.92
EV/EBIT (adj.) (24e)
-7.33
P/B (24e)
0.87
Dividend yield-% (24e)
-
Target price
0.90 EUR
Recommendation
Reduce
Updated
11.11.2024
NASDAQ Helsinki
MARAS
Daily low / high price
0.932 / 0.942
EUR
Market cap
4.37M EUR
Turnover
2.19K EUR
Volume
2.4K
Business risk
Valuation risk
Current
Previous
Analyst
Thomas Westerholm
Analyst
Income statement
| 2020 | 2021 | 2022 | 2023 | 2024e | 2025e | 2026e | 2027e | |
|---|---|---|---|---|---|---|---|---|
| Revenue | 88.4 | 91.9 | 106.7 | 94.4 | 89.7 | 94.8 | 99.0 | 101.0 |
| growth-% | -16.8 % | 4.0 % | 16.1 % | -11.5 % | -4.9 % | 5.6 % | 4.5 % | 2.0 % |
| EBITDA | 2.5 | 4.1 | 8.3 | 4.4 | 3.8 | 8.1 | 8.5 | 8.7 |
| EBIT (adj.) | -4.0 | -0.3 | 1.0 | -2.4 | -3.0 | 1.5 | 1.8 | 2.0 |
| EBIT | -4.0 | -1.3 | 2.5 | -2.4 | -3.0 | 1.5 | 1.8 | 2.0 |
| Profit before taxes | -4.8 | -2.3 | 1.3 | -3.3 | -4.2 | 0.5 | 0.8 | 1.1 |
| Net income | -4.8 | -2.4 | 2.6 | -3.5 | -4.6 | 0.4 | 0.6 | 0.9 |
| EPS (adj.) | -1.16 | -0.32 | 0.30 | -0.78 | -1.03 | 0.08 | 0.14 | 0.20 |
| growth-% | -358.1 % | 70.0 % | 41.9 % | |||||
| Dividend | 0.00 | 0.00 | 0.10 | 0.00 | 0.00 | 0.01 | 0.03 | 0.06 |
| Dividend ratio | 17.7 % | 12.1 % | 21.4 % | 30.0 % |
Profitability and return on capital
| 2020 | 2021 | 2022 | 2023 | 2024e | 2025e | 2026e | 2027e | |
|---|---|---|---|---|---|---|---|---|
| EBITDA-% | 2.9 % | 4.5 % | 7.8 % | 4.7 % | 4.3 % | 8.5 % | 8.6 % | 8.6 % |
| EBIT-% (adj.) | -4.5 % | -0.3 % | 0.9 % | -2.5 % | -3.3 % | 1.6 % | 1.8 % | 2.0 % |
| EBIT-% | -4.5 % | -1.4 % | 2.3 % | -2.5 % | -3.3 % | 1.6 % | 1.8 % | 2.0 % |
| ROE | -35.3 % | -21.7 % | 20.7 % | -30.0 % | -64.1 % | 7.3 % | 11.3 % | 14.4 % |
| ROI | -14.0 % | -5.2 % | 8.8 % | -7.8 % | -10.8 % | 5.7 % | 6.8 % | 7.8 % |
Valuation
| 2020 | 2021 | 2022 | 2023 | 2024e | 2025e | 2026e | 2027e | |
|---|---|---|---|---|---|---|---|---|
| Share price (EUR) | 3.09 | 2.29 | 2.45 | 1.28 | 0.94 | 0.94 | 0.94 | 0.94 |
| Shares | 4.1 | 4.5 | 4.5 | 4.5 | 4.5 | 4.5 | 4.5 | 4.5 |
| Market cap | 12.8 | 10.3 | 11.1 | 5.8 | 4.3 | 4.3 | 4.3 | 4.3 |
| Enterprise value | 17.1 | 18.1 | 19.2 | 18.9 | 21.7 | 20.3 | 19.5 | 18.6 |
| EV/S | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 |
| EV/EBITDA | 6.8 | 4.4 | 2.3 | 4.3 | 5.6 | 2.5 | 2.3 | 2.1 |
| EV/EBIT (adj.) | - | - | 19.4 | - | - | 13.5 | 11.0 | 9.2 |
| EV/EBIT | - | - | 7.7 | - | - | 13.5 | 11.0 | 9.2 |
| P/E (adj.) | - | - | 8.1 | - | - | 11.4 | 6.7 | 4.7 |
| P/E | - | - | 4.3 | - | - | 11.4 | 6.7 | 4.7 |
| P/B | 1.1 | 1.0 | 0.8 | 0.6 | 0.9 | 0.8 | 0.7 | 0.6 |
| P/S | 0.1 | 0.1 | 0.1 | 0.1 | 0.0 | 0.0 | 0.0 | 0.0 |
| Dividend yield | 4.1 % | 1.1 % | 3.2 % | 6.3 % | ||||
| Equity ratio | 22.7 % | 22.2 % | 24.7 % | 19.3 % | 10.9 % | 11.3 % | 12.3 % | 13.7 % |
| Gearing ratio | 37.9 % | 72.6 % | 58.6 % | 137.2 % | 354.1 % | 304.0 % | 259.0 % | 216.2 % |
Quarter data
| Q4/23 | 2023 | Q1/24 | Q2/24 | Q3/24 | Q4/24e | 2024e | Q1/25e | Q2/25e | |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | 26.4 | 94.4 | 20.2 | 21.0 | 20.7 | 27.8 | 89.7 | ||
| EBITDA | 3.5 | 4.4 | -0.5 | 0.1 | 0.8 | 3.4 | 3.8 | ||
| EBIT | 1.5 | -2.4 | -2.2 | -1.6 | -0.9 | 1.8 | -3.0 | ||
| Profit before taxes | 1.2 | -3.3 | -2.5 | -1.9 | -1.3 | 1.5 | -4.2 | ||
| Net income | 1.0 | -3.5 | -2.7 | -2.1 | -1.3 | 1.4 | -4.6 |
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MARTELA CORPORATION: DISCLOSURE UNDER CHAPTER 9, SECTION 10 OF THE SECURITIES MARKET ACT
Martela weakens its guidance for revenue and profit for 2024
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