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Martela has concluded co-operation negotiations concerning Group’s companies in Finland.
As a result of the negotiations, the restructuring of operations will lead to the reduction of approximately 21 jobs. It has also been decided about the possibility to temporarily lay-off personnel either part- or fulltime. Number of personnel and duration of the layoffs will be determined based on market conditions and business needs. Additional savings will be realized through normal retirements and other personnel turnover that will not be replaced in connection to re-organization of the operations.
As a result of the stated actions it is estimated that the Corporation’s cost level will decrease approximately EUR 2.5 million on annual level and the actions will realize essentially during the third quarter of 2021. Any onetime expenses related to dismissals will be clarified during Q1 2021.
Artti Aurasmaa, CEO:
“Our revenue decreased by 26.5 % in the fourth quarter compared to same period last year. Revenue in the fourth quarter was EUR 21.9 million. Revenue was negatively impacted by the coronavirus pandemic through a prolonged decrease in demand. Revenue decreased in all countries and decrease was especially strong in Sweden and in Norway. Revenue for the period January – December decreased by 16.8 % compared to same period last year. Revenue for the period January – December was EUR 88.4 million.
New orders continued to decrease also in the fourth quarter. Orders decreased in all other areas except in Norway and in the Finnish public sector, where orders increased compared to the same period last year. We expect the demand in general to stay at a lower level in the near future. Recovery of the demand will be strongly dependent on the progress of the pandemic and how that will affect decisions of our customers on returning to the working environment.
Artti Aurasmaa, CEO:
“Our revenue decreased by 26.5 % in the fourth quarter compared to same period last year. Revenue in the fourth quarter was EUR 21.9 million. Revenue was negatively impacted by the coronavirus pandemic through a prolonged decrease in demand. Revenue decreased in all countries and decrease was especially strong in Sweden and in Norway. Revenue for the period January – December decreased by 16.8 % compared to same period last year. Revenue for the period January – December was EUR 88.4 million.
New orders continued to decrease also in the fourth quarter. Orders decreased in all other areas except in Norway and in the Finnish public sector, where orders increased compared to the same period last year. We expect the demand in general to stay at a lower level in the near future. Recovery of the demand will be strongly dependent on the progress of the pandemic and how that will affect decisions of our customers on returning to the working environment.