Here are Thomas’s comments on Martela’s profit warning.
Martela issued preliminary information on its Q1’26 results on Thursday morning and simultaneously lowered its guidance for the current year. Based on preliminary figures, the company’s revenue in the first quarter fell sharply and its operating loss deepened, which we estimate reflects increased customer caution and delays in large office projects. The preliminary information and new guidance will lead to downward pressure on our forecasts, and the company’s already very difficult balance sheet position remains a critical concern.