Martela posts Q2 loss as Nordic office furniture demand falls

Finnish office furniture manufacturer Martela reported a second-quarter loss on Tuesday, citing weakening demand in the Nordic market as economic uncertainty weighed on corporate spending.

The company did not disclose the exact loss figure in its preliminary results but confirmed it had swung to a loss compared with a profit in the same period last year. Martela attributed the decline to softer demand for office furniture, particularly in Finland and Sweden, as businesses reassessed capital expenditures amid broader macroeconomic headwinds.

Martela, which operates primarily in the Nordic and Baltic regions, said it expects the challenging environment to persist in the near term. The company has not provided updated guidance for the full year but noted it is reviewing cost structures to mitigate the impact of reduced order volumes.

The preliminary results follow a period of volatility in the Nordic corporate real estate sector, where companies have delayed or scaled back office expansions and renovations due to hybrid work trends and economic pressures. Martela’s competitors in the region have also reported weaker order books in recent quarters, reflecting a broader slowdown in the commercial property segment.

Martela’s shares are listed on the Nasdaq Helsinki and have underperformed the broader Finnish market index in the past year. The company’s financial performance has been closely watched as a bellwether for the Nordic office furniture sector, which remains sensitive to corporate spending cycles.