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"f0__s6__6__129": { "value": "Accounting principles for the consolidated financial statementsMartela GroupMartela Corporation supplies ergonomic and innovative furniture solutions and provides interior planning services.The Group\u2019s parent company is Martela Oyj, a Finnish public limited company domiciled in Espoo, street address Miestentie 1, 02150 Espoo. The company\u2019s A shares are listed on Nasdaq Helsinki.The Group\u2019s financial statements are available online at Martela\u2019s home pages www.martela.com.These financial statements were authorised for issue by the Board of Directors of Martela Oyj on February 11, 2025. The Finnish Limited Liability Companies Act permits the shareholders to approve or reject the financial statements in the Annual General Meeting that is held after publishing the financial statements. As well, the Annual General Meeting has a possibility to amend the financial statements.BASIS OF PREPARATIONMartela\u2019s consolidated financial statements are prepared in accordance with the International Financial Reporting Standards (IFRS) as on December 31, 2024. As referred to in the Finnish Accounting Act and in ordinances issued pursuant to the provisions of this Act, the International Financial Reporting Standards refer to the standards and their interpretations adopted in accordance with the procedure laid down in Regulation (EC) No 1606/2002 of the EU. The notes to the consolidated financial statements also conform with additional requirements of the Finnish accounting and company legislation.The consolidated financial statements are presented in thousands of euros and have been prepared on the historical cost basis except as disclosed in the accounting policies. All presented figures have been rounded, which is why the sum of individual figures might deviate from the presented sum. The key financial indicators have been calculated using exact figures. Martela\u2019s consolidated financial statements cover the full calendar year, and this represents the financial period for the parent company and the Group companies.USE OF ESTIMATESThe preparation of the financial statements in conformity with IFRS requires Group management to make certain estimates and to use judgement when applying accounting policies. The section \u201cAccounting policies requiring management\u2019s judgement and key sources of estimation uncertainty\u201d refers to the judgements made by management and those financial statement items on which judgements have a significant effect.Principles of consolidationThe consolidated financial statements include the parent company, Martela Oyj, and all the subsidiaries in which the parent company controls, directly or indirectly, more than 50 per cent of the voting power of the shares, or otherwise has control. Martela is considered to be in control of a subsidiary when it is exposed, or has rights, to variable returns from its involvement with the subsidiary and has the ability to affect those returns through its power over the subsidiary. Subsidiaries are included in the consolidated financial statements by using the acquisition method. The intra-group transactions, unrealised margins on intra-group deliveries, intra-group receivables and liabilities and profit distribution are eliminated.Items denominated in foreign currencyTransactions in foreign currencies are translated at the exchange rate prevailing on the date of the transaction \u2013 in practice, for transactions taking place within any given month, a rate is used that approximates the rate of the transaction date. At the end of the reporting period, the monetary assets and liabilities are translated into functional currencies at the exchange rate at the end of the reporting period. Exchange rate gains and losses related to business operations are treated as adjustments to the purchases and sales. Exchange rate gains and losses in financing are treated as adjustments to financial income and expenses.The statements of comprehensive income and cash flows of foreign subsidiaries for the period are translated into euros at the average rates for the financial year, and the balance sheets at the average rates of the European Central Bank at the end of the reporting period. The translation of the profit or loss and comprehensive income for the period at different exchange rates in the statement of comprehensive income and in the balance sheet causes a translation difference which is recognised in other comprehensive income. The exchange rate differences arising from the elimination of the cost of the foreign subsidiaries and the exchange rate differences arising from the translation of post-acquisition equity are also recognised in other comprehensive income. Similar treatment is applied to intra-group non-current loans which in substance are equity and form a part of the net investment in the operation in question. When a subsidiary is disposed of, all or in part, the accumulated translation differences are reclassified to profit and loss as part of the gain or loss on disposal.Revenue recognition principlesFurniture is mainly delivered as installed at customer. The control of the furniture is transferred to the customer when the deliverables form the contract are fulfilled, i.e. the furniture is delivered and installed at customer and the customer has approved the delivery. The significant risks and rewards of ownership of the furniture is also transferred to the buyer through the approval of the delivery. Revenue from sold goods is recognised as the control of the goods is transferred to the buyer according to the agreement. The normal warranty for standard Martela produced products in normal use is five years and for other standard products two years.Consultative services consist of workshops and interviews for specification of the demands placed on the work environment and interior planning services. The deliverable is fulfilled and the control is transferred to the customer as the product of the service is delivered to the customer. Revenue from consultative services is recognised as the deliverable is fulfilled.In removals services the value of the service is received by the customer as Martela provides the service. In such cases the revenue is recognised over time. The removal services provided by Martela are mainly short in duration. In case a removal services project lasts for several months is the revenue recognised based on either invoicing of the achieved project milestones or based on actual work hours registered for the project.The transaction prices for the sold goods and services are defined for each deliverable on the sales orders and no variable considerations are in use. Martela does not have capitalised costs for obtaining or of fulfilling customer contracts. Sales receivables are typically due latest within two months from invoicing. The customer contracts do not include significant financing components provided by Martela.Revenue consists of income from customer contracts according to IFRS 15 and income from customer contracts that are classified as leases based on the contract contents, and are treated in accordance to IFRS 16.Leases in which substantially all the risks and rewards incidental to ownership of an asset remain with the lessor are classified as operative lease contracts and recognised as revenue in the statement of comprehensive income on a straight-line basis over the lease term. Employee benefitsPENSION LIABILITIESThe Group has arranged defined contribution plans and defined benefit plans for retirement. A defined contribution plan is a pension plan under which the Group pays fixed contributions into a separate entity. The Group has no legal or constructive obligations to pay further contributions if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods. A defined benefit plan is a pension plan that is not a defined contribution plan. Contributions made to defined contribution plans are recognised in profit or loss as an expense as incurred. The obligations of defined benefit plans are calculated separately for each plan. The projected unit credit method is used in the calculation. Pension costs are recognised as an expense over the service period of personnel based on calculations performed by qualified actuaries. In calculating the present value of a pension obligation, the market yield of corporate high-grade bonds or the interest rate of government bonds are used as the discount rate. Their maturity corresponds to a significant extent with the maturity of the computed pension liability.Pension expenses (service cost in the period) and the net interest for the net debt related to the defined benefit pension plan are recognised through profit or loss. Pension expenses are included in employee benefit expenses. Items resulting from the remeasurement of the net debt (or net asset) related to the defined benefit plan are recorded in items of other comprehensive income in the financial period during which they emerge. These include actuarial gains and losses and returns on assets included in the plan, among other items. Past service costs are recognised in expenses through profit or loss on the earlier of the following dates: the date when the plan is amended or reduced, or the date when the entity recognises the reorganisation expenses related to this or the benefits related to the termination of the employment relationship.SHARE-BASED PAYMENTS In the Group\u2019s share-based incentive system, with vesting periods 2024, 2025 and 2026, payments are made in a combination of shares and cash. Share rewards are measured at fair value at the grant date and recognised as expenses over the vesting period. The vesting conditions are taken into account in the number of shares which are expected to vest by the end of the validity period. Measurements are adjusted at the end of each reporting period and the settlement is recognised under equity. The expense determined at the time of granting the share-based incentives is based on the Group\u2019s estimate of the number of shares which are expected to vest by the end of the vesting period. The assumed vesting takes account of the maximum incentive, the assumed achievement of non-market-based earnings targets and the reduction of persons participating the plan. The Group updates the estimate of the final number of shares at the end of each reporting period. Their impact on profit or loss is presented in the statement of comprehensive income under employment benefits expensesOperating profit (loss)Operating profit is the Group\u2019s profit from operations before financial items and income taxes. Exchange rate differences arisen in the translation of trade receivables and payables denominated in foreign currencies are included in operating profit. Income taxesThe taxes recognised in the consolidated statement of comprehensive income include current tax based on the taxable income of the Group companies for the financial year, taxes for previous years and the change in deferred taxes. For transactions and other events recognised in profit or loss, any related tax effects are also recognised in profit or loss. For transactions and other events recognised outside profit or loss (either in other comprehensive income or directly in equity), any related tax effects are also recognised either in other comprehensive income or directly in equity, respectively.Deferred tax assets and liabilities are recognised on temporary differences between the tax bases and IFRS carrying values of assets and liabilities in the financial statements. A deferred tax asset is recognised only to the extent that it is probable that taxable profit will be available against which it can be used. Deferred tax liabilities are recognised to the full extent in the balance sheet. Deferred taxes are measured by using the tax rates enacted or substantively enacted by the end of the reporting period.Intangible assetsGOODWILLGoodwill resulting from business combinations represents the excess of the consideration transferred over the fair value of the net identifiable assets acquired. Goodwill is tested annually or more frequently if there are indications that the value might be impaired. Testing is performed at least at the end of each financial year. For this purpose goodwill is allocated to cash generating units. An impairment loss is recognised whenever the carrying amount of cash-generating unit exceeds the recoverable amount. Impairment losses are recognised in the comprehensive income statement. An impairment loss in respect of goodwill is never reversed.RESEARCH AND DEVELOPMENTResearch and development is active and continuous in the Group and if individual development projects are of such a scope in relation to operations and if the capitalisation criteria are fulfilled these projects are capitalised. Research expenditure is recognised as an expense when incurred. R&D-related equipment is capitalised in machinery and equipment. There has been no development costs that met the capitalisation criteria during the financial year.OTHER INTANGIBLE ASSETSAn intangible asset is initially capitalised in the balance sheet at cost if the cost can be measured reliably and it is probable that the expected future economic benefits that are attributable to the asset will flow to the Group. Other intangible assets include software licences, IT-programmes, patents and other corresponding rights. Patents, licences and other rights are measured at historical cost, less amortisation and any impairment.The useful lives of intangible assets are as follows:Licences \u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026 3\u20135 yearsIT-programmes \u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u20263\u201310 years Customer ship \u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026 4 yearsBrands \u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u20266 yearsPatents and other corresponding rights \u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026 10 yearsAmortisation is recognised using the straight-line method.Tangible assetsLand, buildings, machinery and equipment constitute the majority of tangible assets. They are measured in the balance sheet at historical cost, less accumulated depreciation and any impairment. When a part of an item of property, plant and equipment (accounted for as a separate asset) is renewed, the expenditure related to the new item is capitalised and the possibly remaining balance sheet value removed from the balance sheet. Other expenditure arising later is capitalised only when future economic benefits will flow to the Group. Other expenditure for repairs or maintenance is expensed when it is incurred. Those borrowing costs directly attributable to the acquisition, construction or production of a qualifying asset are capitalised as part of the cost of that asset.Depreciation is calculated on a straight-line basis over the estimated useful life of the asset. A tangible asset once classified as held for sale is not depreciated. Land is not depreciated. The estimated depreciation periods are as follows:Buildings \u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026 15\u201330 yearsMachinery and equipment \u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026 3\u20138 yearsThe residual values and useful lives of tangible assets are reviewed at least at each financial year-end and, if necessary, are adjusted to reflect changes in the expected future economic benefits.Gains and losses from the sale or disposal of tangible assets are recognised in profit and loss and presented under other operating income or other operating expenses.IMPAIRMENT OF TANGIBLE AND INTANGIBLE ASSETSThe carrying amounts of assets are assessed at the end of each reporting period to observe whether there are any indications that an asset may be impaired. If such indications exist, the recoverable amount of the asset will be estimated at the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised if the balance sheet value of an asset or a cash-generating unit exceeds the recoverable amount of it. Impairment losses are recognised in the statement of comprehensive income. If there are indications that impairment losses no longer exist or that they have diminished, the recoverable amount is estimated. An impairment loss previously recognised in the statement of comprehensive income is reversed if the estimates used in measuring the recoverable income have changed. However, an impairment loss cannot be reversed to an extent more than what the carrying amount of the asset or cash-generating unit would be without recognition of an impairment loss. LeasesMartela\u2019s lease contracts consist mainly of office spaces, cars and IT-equipment. The lease contracts of cars and IT-equipment are time limited whereas the contracts for office spaces are open ended as well as time limited. The lease contracts do not include variable lease payments. Lease agreements, for which the lease period is beyond 12 months, are according to IFRS 16 recognised on the balance sheet as a right-of-use assets and lease liabilities. The right-of-use assets decreased with the accumulated depreciations are recognised as tangible assets. The right-of-use assets are depreciated over the lease period or an estimated period if longer. Estimated rental periods, are used for lease agreements of indefinite duration. The estimated rental periods are 2 years for rented offices and sales facilities and 1 year for warehouses. Martela applies the exemptions to IFRS 16 and does not apply IFRS 16 to short-term leases for which the lease term ends within 12 months and leases of low-value assets, which are not offices or warehouses in use by Martela. The payments for these are recognised as equal instalments over the rental period in the consolidated statement of comprehensive income.The lease liabilities have been discounted at the borrowing rate. Company also operates as lessor of furniture. Accounting principles of these are described under revenue recognition principles.InventoriesInventories are measured at the lower of cost and net realisable value. The value of inventories is determined by using weighted average purchase prices and it includes all direct expenditure incurred by acquiring the inventories and also a part of the production overhead costs. Net realisable value is the estimated selling price in the ordinary course of business less the estimated costs of completion and the estimated costs necessary to make the sale. Inventory value includes adjustments caused by obsolescence.Financial assetsGroup\u2019s financial assets are classified into the following groups: financial assets at fair value through profit or loss, financial assets at fair value through other comprehensive income and financial assets measured at amortised costs. The classification depends on the purpose of acquiring the financial assets, and they are classified at the time of initial acquisition. All purchases and sales of financial assets are recognised and derecognised on the trade date. The Group derecognises financial assets when it has lost its right to receive the cash flows or when it has transferred substantially all the risks and rewards to an external party. Financial assets measured at amortised costs include assets that are held in a business model whose object is achieved by holding the assets and collecting contractual cash flows until the due date. The cash flow from the assets consists of solely payments of principal and interest on the principal amount outstanding. They are originally recognised at fair value and subsequently measured at amortised cost. The group recognises a deduction in the financial assets recognised at amortised cost based on expected credit losses. These assets are included in either current or non-current financial assets (they are included in the latter if they mature over 12 months later). The category includes loan, trade and other receivables that are not derivatives. Cash and cash equivalents comprise cash in hand, in banks and in demand bank deposits, as well as other current, very liquid investments. Items qualifying as cash and cash equivalents have original maturities of three months or less from the date of acquisition.IMPAIRMENT OF FINANCIAL ASSETSAt the end of each reporting period, the Group assesses whether objective evidence exists of the impairment of an individual financial asset or a group of financial assets. Impairment will be recognised through profit or loss.A simplified model according to IFRS 9 is used in assessing the expected credit losses on trade receivables: credit losses are recognised to an amount that represents the expected credit losses for the full lifetime. The expected credit losses are assessed based on historical information on credit losses and on the information on the future financial circumstances available on the review date.FINANCIAL LIABILITIES The Group classifies its financial liabilities as financial liabilities measured at amortised cost (mainly includes borrowings from financial institutions, IFRS 16 lease liabilities and trade payables). Financial liabilities are initially recognised at fair value and are subsequently measured either at amortised cost or at fair value, based on the classification made. Financial liabilities are included in current and non-current liabilities and they can be interest-bearing or non-interest-bearing. Bank overdrafts are included in current interest-bearing liabilities. Financial liabilities are regarded as current, unless the Group has an absolute right to postpone the repayment of the debt until a minimum of 12 months after the end of the reporting period. Financial liabilities (in full or in part) are not eliminated from the balance sheet until the debt has ceased to exist \u2013 in other words, when the obligation specified in the agreement has been fulfilled or rescinded or ceases to be valid.The Group uses derivative financial instruments, to hedge its electricity price risk. The Group doesn\u2019t apply hedge accounting, but derivatives are recognised at fair value through the statement of profit or loss at each balance sheet date according to the closing rate of the period. Derivatives are carried as financial assets when the fair value is positive and as financial liabilities when the fair value is negative. The change in fair value is recognised in income statement in raw material and consumables used.Share capitalOutstanding ordinary shares are shown as share capital. The share capital consists of K and A series shares. The shares of both series have identical dividend rights but K series shares confer 20 votes and A series shares 1 vote at Annual General Meetings of shareholders. Expenses related to the issuance and acquisition of own equity instruments are presented as deductions from equity. If Martela Oyj buys back its own equity instruments, their cost is deducted from equity.DIVIDENDSDividends proposed by the Board of Directors are not recorded in the financial statements but the related liability is only recognised when approved by the Annual General Meeting of shareholders.ProvisionsA provision is recognised when the Group has a legal or constructive obligation as a result of a past event, it is probable that on outflow of economic benefits will be required to settle the obligation and the amount can be estimated reliably. The amount recognised as a provision is equal to the best estimate of the expenditure required to settle the present obligation at the end of the reporting period. Accounting policies requiring management\u2019s judgement and key sources of estimation uncertaintyIn preparing the financial statements it is necessary to make forward-looking estimates and assumptions which may not, in fact, turn out to be true. In addition, it is necessary to use judgement in applying accounting policies to the financial statements. The foremost estimates concern the utilisation of deferred tax assets against future taxable income and the assumptions used in the impairment testing. Other estimates requiring management\u2019s judgement mainly concerns the amount of non-marketable inventories, impairment of trade receivables, the amount of guarantee provisions and the definition of the lease period in lease contracts of indefinite duration under IFRS 16. Estimates and assumptions are based on management\u2019s current best knowledge at the end of the reporting period, reflecting historical experience and other reasonable assumptions.Going concern assumptionThe financial statements for the financial year 2024 have been prepared on a going concern basis, which assumes that Martela will be able to meet its liabilities and obligations arising from its operations in the foreseeable future as part of its normal business operations. When assessing the going concern assumption, Martela\u2019s management has taken into account the uncertainties and risks related to the business environment, the company\u2019s available funding sources, and the cash flow forecasts of the various group companies\u2019 operations over the next 12 months. The company\u2019s long-term and short-term financial liabilities are mainly deferred lease commitments, which are amortised in monthly rent payments and do not involve any covenants or other maturity terms. The company\u2019s most significant lease agreements are long-term.The business environment has been extremely challenging in recent years, and as a result, the group\u2019s liquidity situation has weakened, especially during 2024. The risk related to liquidity is managed, among other things, by adjusting costs and increasing operational efficiency. In addition, the aim is to increase product margins as much as possible without reducing the total volume of turnover. In addition, the aim is to accelerate the turnover rate of working capital, for example by reducing inventory levels and increasing the invoicing frequency through advance invoicing. The company is also exploring opportunities for using new sources of financing. The company has taken structural adjustment and efficiency measures in the early part of 2024, which will be fully reflected in 2025. In addition, the new adjustment measures initiated in early 2025 aim to improve the company\u2019s cost-efficiency for the most part in 2025 and fully in 2026.The assumption of continuity of operations is related to the above-mentioned uncertainties mainly caused by the unfavourable market situation, as well as risks mainly related to liquidity, which Martela\u2019s management estimates can be controlled with the measures initiated and planned by the company. In the opinion of the company\u2019s management and the Board of Directors, the 2024 financial statements do not involve significant uncertainty regarding the going concern assumption in accordance with the IFRS standard.Impairment testingThe carrying amounts of non-current assets are assessed at the end of each reporting period to observe whether there are any indications that the balance sheet value of an asset or a cash-generating unit exceeds the recoverable amount of it. If such indications exist, the recoverable amount of the asset will be estimated at the higher of its fair value less costs to sell and its value in use. Value in use is calculated based on discounted forecast cash flows. An impairment loss is recognised if the balance sheet value of an asset or a cash-generating unit exceeds the recoverable amount of it. Impairment losses are recognised in the statement of comprehensive income.If there are indications that impairment losses no longer exist or that they have diminished, the recoverable amount is estimated. An impairment loss previously recognised in the statement of comprehensive income is reversed if the estimates used in measuring the recoverable income have changed. However, an impairment loss cannot be reversed to an extent more than what the carrying amount of the asset or cash-generating unit would be without recognition of an impairment loss. Goodwill is tested for impairment annually regardless of whether there is any indication of impairment. An impairment loss in respect of goodwill is never reversed. (Note 10)The recoverable amounts of cash generating units have been determined using calculations based on value in use. In the calculations, forecast cash flows are based on financial plans approved by management, covering a period of five years. The central assumptions concern development of growth and profitability. The cash flows beyond the five-year period are estimated based on 1,5 per cent growth.Deferred tax receivablesThe prerequisites for recognition of deferred classified as short-term or long-term when the company has the right to postpone the payment of the debt for at least 12 months.Amendments to the IFRS16 standard Leases: lease liabilities in sales and leasebacks. The change requires the seller-lessee to subsequently value the lease liabilities arising from the sublease in a way that does not record any part of the profit or loss related to the seller-lessee\u2019s right of use. The new requirements do not prevent the seller-lessee from recording a profit or loss in the income statement related to the partial or complete termination of the lease agreement.Amendments to the IAS 7 standard Cash flow statement and to the IFRS 7 standard Financial instruments: Disclosures: Supplier Finance Arrangements. The amendment provides additional disclosures about supplier finance arrangements that enable investors to assess the effects on a company\u2019s debts, cash flows and exposure to liquidity risk. The amendments did not have any significant impact on the consolidated financial statements.NEW IFRS STANDARDS, AMENDMENTS TO STANDARDS AND IFRIC INTERPRETATIONS THAT HAVE NOT YET BEEN IMPLEMENTEDIAS 21 Lack of Exchangeability \u2013 The Amendments introduce requirements to assess when a currency is exchangeable into another currency and when it is not. The Amendments require an entity to estimate the spot exchange rate when it concludes that a currency is not exchangeable into another currency.The new IFRS standards, changes to standards and IFRIC interpretations listed above that come into force on or after 1 January 2025 are not estimated to have a material impact on the group.tax receivables are assessed at the end of each reporting period. Assumptions made by the managers of the Group companies on taxable income in future financial periods have been taken into account when evaluating the amount of deferred tax assets. Various internal and external factors can have a positive or negative effect on deferred tax assets. These include restructuring in the Group, amendments to tax laws (such as changes to tax rates or a change to the period of utilisation of confirmed deductible tax losses) and changes to the interpretations of tax regulations. Deferred tax assets recognised in an earlier reporting period are recognised in expenses in the consolidated statement of comprehensive income if the unit in question is not expected to accumulate sufficient taxable income to be able to utilise the temporary differences, such as confirmed tax losses, on which the deferred tax assets are based.Deferred tax assets are not recorded for taxation losses in subsidiaries.Financial Statement prepared in ESEF FormatFinancial Statements in Annual Report are prepared in ESEF format, in which it is marked up with XBRL tags according to ESEF taxonomy. The machine readable material is audited.New and amended IFRS-standards and interpretations effective from 2024 onwardsIn 2024 and thereafter, the Group has adopted the following new and revised standards and interpretations issued by the IASB:Amendments to the standard IAS 1, Classification of liabilities into current and non-current. The standard change clarifies how debts should be The IFRS18 Information presented in the financial statements standard may have a significant impact on the information presented in the group\u2019s financial statements in the future.Events after the end of the financial yearOn January 3, 2025, the company announced that it was planning to streamline its operations. According to the release, the challenging market conditions in the industry over the past few years have affected Martela\u2019s operating environment, weakening business volume and profitability. The ongoing economic recovery is positively impacting the industry situation, but there are still uncertainties regarding the strength of the recovery in key market areas. For the reasons mentioned above, Martela is planning to streamline and reorganise its operations in order to mitigate the negative effects caused by the market situation, adjust its cost structure to match the prevailing conditions, and bring flexibility to the uncertainty driven by demand. The planned personnel savings and other cost-saving measures are expected to result in annual cost savings of approximately EUR 1.5 to 2.0 million. According to the preliminary estimate, the planned actions could lead to a permanent reduction of around 20 job positions. The planned measures will affect Martela Group\u2019s employees in Finland, Sweden, and Norway. Additionally, there are plans to use layoff procedures to achieve the necessary temporary flexibility. Martela is in close discussions with employees and employee representatives regarding the changes. The negotiation processes and their timelines will vary by country.On January 17, 2025, the company announced preliminary information about its revenue and operating profit for 2024. The company stated that, according to preliminary unaudited financial statements, Martela Group\u2019s operating profit for the full year 2024 did not meet the level outlined in the guidance provided on December 11, 2024. According to the preliminary unaudited financial statements, both revenue and operating profit for the full year 2024 declined compared to the previous year. Revenue was approximately 87 million euros (94.4), and the operating loss was between EUR 6.3 and 6.7 million (-2.4).On January 30, 2025, the company announced that it would streamline the composition of its executive team. The goal of the change is to enhance operations, standardise the development of Martela\u2019s products and services, and strengthen the position of Martela\u2019s products in the market. As part of this, technical product development will move from the Product & Design unit to the Operations business unit, and product portfolio management will be transferred to a new Brand, Products & Services unit. These changes will lead to adjustments in the group\u2019s executive team. Eeva Ter\u00e4v\u00e4 will begin as the leader of the new Brand, Products & Services unit on February 1, 2025. Kari Leino, who previously led the Product & Design unit, will continue as the product portfolio and design director in the Brand, Products & Services unit starting from February 1, 2025.There are no other significant events to report after the period from January to December 2024, and operations have continued as planned.", "dimensions": { "concept": "ifrs-full:DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory", "language": "en", "entity": "scheme:743700M4EIEVD61PNN55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "f0__s6__6__128": { "value": "Accounting principles for the consolidated financial statementsMartela GroupMartela Corporation supplies ergonomic and innovative furniture solutions and provides interior planning services.The Group\u2019s parent company is Martela Oyj, a Finnish public limited company domiciled in Espoo, street address Miestentie 1, 02150 Espoo. The company\u2019s A shares are listed on Nasdaq Helsinki.The Group\u2019s financial statements are available online at Martela\u2019s home pages www.martela.com.These financial statements were authorised for issue by the Board of Directors of Martela Oyj on February 11, 2025. The Finnish Limited Liability Companies Act permits the shareholders to approve or reject the financial statements in the Annual General Meeting that is held after publishing the financial statements. As well, the Annual General Meeting has a possibility to amend the financial statements.BASIS OF PREPARATIONMartela\u2019s consolidated financial statements are prepared in accordance with the International Financial Reporting Standards (IFRS) as on December 31, 2024. As referred to in the Finnish Accounting Act and in ordinances issued pursuant to the provisions of this Act, the International Financial Reporting Standards refer to the standards and their interpretations adopted in accordance with the procedure laid down in Regulation (EC) No 1606/2002 of the EU. The notes to the consolidated financial statements also conform with additional requirements of the Finnish accounting and company legislation.The consolidated financial statements are presented in thousands of euros and have been prepared on the historical cost basis except as disclosed in the accounting policies. All presented figures have been rounded, which is why the sum of individual figures might deviate from the presented sum. The key financial indicators have been calculated using exact figures. Martela\u2019s consolidated financial statements cover the full calendar year, and this represents the financial period for the parent company and the Group companies.USE OF ESTIMATESThe preparation of the financial statements in conformity with IFRS requires Group management to make certain estimates and to use judgement when applying accounting policies. The section \u201cAccounting policies requiring management\u2019s judgement and key sources of estimation uncertainty\u201d refers to the judgements made by management and those financial statement items on which judgements have a significant effect.Principles of consolidationThe consolidated financial statements include the parent company, Martela Oyj, and all the subsidiaries in which the parent company controls, directly or indirectly, more than 50 per cent of the voting power of the shares, or otherwise has control. Martela is considered to be in control of a subsidiary when it is exposed, or has rights, to variable returns from its involvement with the subsidiary and has the ability to affect those returns through its power over the subsidiary. Subsidiaries are included in the consolidated financial statements by using the acquisition method. The intra-group transactions, unrealised margins on intra-group deliveries, intra-group receivables and liabilities and profit distribution are eliminated.Items denominated in foreign currencyTransactions in foreign currencies are translated at the exchange rate prevailing on the date of the transaction \u2013 in practice, for transactions taking place within any given month, a rate is used that approximates the rate of the transaction date. At the end of the reporting period, the monetary assets and liabilities are translated into functional currencies at the exchange rate at the end of the reporting period. Exchange rate gains and losses related to business operations are treated as adjustments to the purchases and sales. Exchange rate gains and losses in financing are treated as adjustments to financial income and expenses.The statements of comprehensive income and cash flows of foreign subsidiaries for the period are translated into euros at the average rates for the financial year, and the balance sheets at the average rates of the European Central Bank at the end of the reporting period. The translation of the profit or loss and comprehensive income for the period at different exchange rates in the statement of comprehensive income and in the balance sheet causes a translation difference which is recognised in other comprehensive income. The exchange rate differences arising from the elimination of the cost of the foreign subsidiaries and the exchange rate differences arising from the translation of post-acquisition equity are also recognised in other comprehensive income. Similar treatment is applied to intra-group non-current loans which in substance are equity and form a part of the net investment in the operation in question. When a subsidiary is disposed of, all or in part, the accumulated translation differences are reclassified to profit and loss as part of the gain or loss on disposal.Revenue recognition principlesFurniture is mainly delivered as installed at customer. The control of the furniture is transferred to the customer when the deliverables form the contract are fulfilled, i.e. the furniture is delivered and installed at customer and the customer has approved the delivery. The significant risks and rewards of ownership of the furniture is also transferred to the buyer through the approval of the delivery. Revenue from sold goods is recognised as the control of the goods is transferred to the buyer according to the agreement. The normal warranty for standard Martela produced products in normal use is five years and for other standard products two years.Consultative services consist of workshops and interviews for specification of the demands placed on the work environment and interior planning services. The deliverable is fulfilled and the control is transferred to the customer as the product of the service is delivered to the customer. Revenue from consultative services is recognised as the deliverable is fulfilled.In removals services the value of the service is received by the customer as Martela provides the service. In such cases the revenue is recognised over time. The removal services provided by Martela are mainly short in duration. In case a removal services project lasts for several months is the revenue recognised based on either invoicing of the achieved project milestones or based on actual work hours registered for the project.The transaction prices for the sold goods and services are defined for each deliverable on the sales orders and no variable considerations are in use. Martela does not have capitalised costs for obtaining or of fulfilling customer contracts. Sales receivables are typically due latest within two months from invoicing. The customer contracts do not include significant financing components provided by Martela.Revenue consists of income from customer contracts according to IFRS 15 and income from customer contracts that are classified as leases based on the contract contents, and are treated in accordance to IFRS 16.Leases in which substantially all the risks and rewards incidental to ownership of an asset remain with the lessor are classified as operative lease contracts and recognised as revenue in the statement of comprehensive income on a straight-line basis over the lease term. Employee benefitsPENSION LIABILITIESThe Group has arranged defined contribution plans and defined benefit plans for retirement. A defined contribution plan is a pension plan under which the Group pays fixed contributions into a separate entity. The Group has no legal or constructive obligations to pay further contributions if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods. A defined benefit plan is a pension plan that is not a defined contribution plan. Contributions made to defined contribution plans are recognised in profit or loss as an expense as incurred. The obligations of defined benefit plans are calculated separately for each plan. The projected unit credit method is used in the calculation. Pension costs are recognised as an expense over the service period of personnel based on calculations performed by qualified actuaries. In calculating the present value of a pension obligation, the market yield of corporate high-grade bonds or the interest rate of government bonds are used as the discount rate. Their maturity corresponds to a significant extent with the maturity of the computed pension liability.Pension expenses (service cost in the period) and the net interest for the net debt related to the defined benefit pension plan are recognised through profit or loss. Pension expenses are included in employee benefit expenses. Items resulting from the remeasurement of the net debt (or net asset) related to the defined benefit plan are recorded in items of other comprehensive income in the financial period during which they emerge. These include actuarial gains and losses and returns on assets included in the plan, among other items. Past service costs are recognised in expenses through profit or loss on the earlier of the following dates: the date when the plan is amended or reduced, or the date when the entity recognises the reorganisation expenses related to this or the benefits related to the termination of the employment relationship.SHARE-BASED PAYMENTS In the Group\u2019s share-based incentive system, with vesting periods 2024, 2025 and 2026, payments are made in a combination of shares and cash. Share rewards are measured at fair value at the grant date and recognised as expenses over the vesting period. The vesting conditions are taken into account in the number of shares which are expected to vest by the end of the validity period. Measurements are adjusted at the end of each reporting period and the settlement is recognised under equity. The expense determined at the time of granting the share-based incentives is based on the Group\u2019s estimate of the number of shares which are expected to vest by the end of the vesting period. The assumed vesting takes account of the maximum incentive, the assumed achievement of non-market-based earnings targets and the reduction of persons participating the plan. The Group updates the estimate of the final number of shares at the end of each reporting period. Their impact on profit or loss is presented in the statement of comprehensive income under employment benefits expensesOperating profit (loss)Operating profit is the Group\u2019s profit from operations before financial items and income taxes. Exchange rate differences arisen in the translation of trade receivables and payables denominated in foreign currencies are included in operating profit. Income taxesThe taxes recognised in the consolidated statement of comprehensive income include current tax based on the taxable income of the Group companies for the financial year, taxes for previous years and the change in deferred taxes. For transactions and other events recognised in profit or loss, any related tax effects are also recognised in profit or loss. For transactions and other events recognised outside profit or loss (either in other comprehensive income or directly in equity), any related tax effects are also recognised either in other comprehensive income or directly in equity, respectively.Deferred tax assets and liabilities are recognised on temporary differences between the tax bases and IFRS carrying values of assets and liabilities in the financial statements. A deferred tax asset is recognised only to the extent that it is probable that taxable profit will be available against which it can be used. Deferred tax liabilities are recognised to the full extent in the balance sheet. Deferred taxes are measured by using the tax rates enacted or substantively enacted by the end of the reporting period.Intangible assetsGOODWILLGoodwill resulting from business combinations represents the excess of the consideration transferred over the fair value of the net identifiable assets acquired. Goodwill is tested annually or more frequently if there are indications that the value might be impaired. Testing is performed at least at the end of each financial year. For this purpose goodwill is allocated to cash generating units. An impairment loss is recognised whenever the carrying amount of cash-generating unit exceeds the recoverable amount. Impairment losses are recognised in the comprehensive income statement. An impairment loss in respect of goodwill is never reversed.RESEARCH AND DEVELOPMENTResearch and development is active and continuous in the Group and if individual development projects are of such a scope in relation to operations and if the capitalisation criteria are fulfilled these projects are capitalised. Research expenditure is recognised as an expense when incurred. R&D-related equipment is capitalised in machinery and equipment. There has been no development costs that met the capitalisation criteria during the financial year.OTHER INTANGIBLE ASSETSAn intangible asset is initially capitalised in the balance sheet at cost if the cost can be measured reliably and it is probable that the expected future economic benefits that are attributable to the asset will flow to the Group. Other intangible assets include software licences, IT-programmes, patents and other corresponding rights. Patents, licences and other rights are measured at historical cost, less amortisation and any impairment.The useful lives of intangible assets are as follows:Licences \u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026 3\u20135 yearsIT-programmes \u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u20263\u201310 years Customer ship \u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026 4 yearsBrands \u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u20266 yearsPatents and other corresponding rights \u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026 10 yearsAmortisation is recognised using the straight-line method.Tangible assetsLand, buildings, machinery and equipment constitute the majority of tangible assets. They are measured in the balance sheet at historical cost, less accumulated depreciation and any impairment. When a part of an item of property, plant and equipment (accounted for as a separate asset) is renewed, the expenditure related to the new item is capitalised and the possibly remaining balance sheet value removed from the balance sheet. Other expenditure arising later is capitalised only when future economic benefits will flow to the Group. Other expenditure for repairs or maintenance is expensed when it is incurred. Those borrowing costs directly attributable to the acquisition, construction or production of a qualifying asset are capitalised as part of the cost of that asset.Depreciation is calculated on a straight-line basis over the estimated useful life of the asset. A tangible asset once classified as held for sale is not depreciated. Land is not depreciated. The estimated depreciation periods are as follows:Buildings \u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026 15\u201330 yearsMachinery and equipment \u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026 3\u20138 yearsThe residual values and useful lives of tangible assets are reviewed at least at each financial year-end and, if necessary, are adjusted to reflect changes in the expected future economic benefits.Gains and losses from the sale or disposal of tangible assets are recognised in profit and loss and presented under other operating income or other operating expenses.IMPAIRMENT OF TANGIBLE AND INTANGIBLE ASSETSThe carrying amounts of assets are assessed at the end of each reporting period to observe whether there are any indications that an asset may be impaired. If such indications exist, the recoverable amount of the asset will be estimated at the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised if the balance sheet value of an asset or a cash-generating unit exceeds the recoverable amount of it. Impairment losses are recognised in the statement of comprehensive income. If there are indications that impairment losses no longer exist or that they have diminished, the recoverable amount is estimated. An impairment loss previously recognised in the statement of comprehensive income is reversed if the estimates used in measuring the recoverable income have changed. However, an impairment loss cannot be reversed to an extent more than what the carrying amount of the asset or cash-generating unit would be without recognition of an impairment loss. LeasesMartela\u2019s lease contracts consist mainly of office spaces, cars and IT-equipment. The lease contracts of cars and IT-equipment are time limited whereas the contracts for office spaces are open ended as well as time limited. The lease contracts do not include variable lease payments. Lease agreements, for which the lease period is beyond 12 months, are according to IFRS 16 recognised on the balance sheet as a right-of-use assets and lease liabilities. The right-of-use assets decreased with the accumulated depreciations are recognised as tangible assets. The right-of-use assets are depreciated over the lease period or an estimated period if longer. Estimated rental periods, are used for lease agreements of indefinite duration. The estimated rental periods are 2 years for rented offices and sales facilities and 1 year for warehouses. Martela applies the exemptions to IFRS 16 and does not apply IFRS 16 to short-term leases for which the lease term ends within 12 months and leases of low-value assets, which are not offices or warehouses in use by Martela. The payments for these are recognised as equal instalments over the rental period in the consolidated statement of comprehensive income.The lease liabilities have been discounted at the borrowing rate. Company also operates as lessor of furniture. Accounting principles of these are described under revenue recognition principles.InventoriesInventories are measured at the lower of cost and net realisable value. The value of inventories is determined by using weighted average purchase prices and it includes all direct expenditure incurred by acquiring the inventories and also a part of the production overhead costs. Net realisable value is the estimated selling price in the ordinary course of business less the estimated costs of completion and the estimated costs necessary to make the sale. Inventory value includes adjustments caused by obsolescence.Financial assetsGroup\u2019s financial assets are classified into the following groups: financial assets at fair value through profit or loss, financial assets at fair value through other comprehensive income and financial assets measured at amortised costs. The classification depends on the purpose of acquiring the financial assets, and they are classified at the time of initial acquisition. All purchases and sales of financial assets are recognised and derecognised on the trade date. The Group derecognises financial assets when it has lost its right to receive the cash flows or when it has transferred substantially all the risks and rewards to an external party. Financial assets measured at amortised costs include assets that are held in a business model whose object is achieved by holding the assets and collecting contractual cash flows until the due date. The cash flow from the assets consists of solely payments of principal and interest on the principal amount outstanding. They are originally recognised at fair value and subsequently measured at amortised cost. The group recognises a deduction in the financial assets recognised at amortised cost based on expected credit losses. These assets are included in either current or non-current financial assets (they are included in the latter if they mature over 12 months later). The category includes loan, trade and other receivables that are not derivatives. Cash and cash equivalents comprise cash in hand, in banks and in demand bank deposits, as well as other current, very liquid investments. Items qualifying as cash and cash equivalents have original maturities of three months or less from the date of acquisition.IMPAIRMENT OF FINANCIAL ASSETSAt the end of each reporting period, the Group assesses whether objective evidence exists of the impairment of an individual financial asset or a group of financial assets. Impairment will be recognised through profit or loss.A simplified model according to IFRS 9 is used in assessing the expected credit losses on trade receivables: credit losses are recognised to an amount that represents the expected credit losses for the full lifetime. The expected credit losses are assessed based on historical information on credit losses and on the information on the future financial circumstances available on the review date.FINANCIAL LIABILITIES The Group classifies its financial liabilities as financial liabilities measured at amortised cost (mainly includes borrowings from financial institutions, IFRS 16 lease liabilities and trade payables). Financial liabilities are initially recognised at fair value and are subsequently measured either at amortised cost or at fair value, based on the classification made. Financial liabilities are included in current and non-current liabilities and they can be interest-bearing or non-interest-bearing. Bank overdrafts are included in current interest-bearing liabilities. Financial liabilities are regarded as current, unless the Group has an absolute right to postpone the repayment of the debt until a minimum of 12 months after the end of the reporting period. Financial liabilities (in full or in part) are not eliminated from the balance sheet until the debt has ceased to exist \u2013 in other words, when the obligation specified in the agreement has been fulfilled or rescinded or ceases to be valid.The Group uses derivative financial instruments, to hedge its electricity price risk. The Group doesn\u2019t apply hedge accounting, but derivatives are recognised at fair value through the statement of profit or loss at each balance sheet date according to the closing rate of the period. Derivatives are carried as financial assets when the fair value is positive and as financial liabilities when the fair value is negative. The change in fair value is recognised in income statement in raw material and consumables used.Share capitalOutstanding ordinary shares are shown as share capital. The share capital consists of K and A series shares. The shares of both series have identical dividend rights but K series shares confer 20 votes and A series shares 1 vote at Annual General Meetings of shareholders. Expenses related to the issuance and acquisition of own equity instruments are presented as deductions from equity. If Martela Oyj buys back its own equity instruments, their cost is deducted from equity.DIVIDENDSDividends proposed by the Board of Directors are not recorded in the financial statements but the related liability is only recognised when approved by the Annual General Meeting of shareholders.ProvisionsA provision is recognised when the Group has a legal or constructive obligation as a result of a past event, it is probable that on outflow of economic benefits will be required to settle the obligation and the amount can be estimated reliably. The amount recognised as a provision is equal to the best estimate of the expenditure required to settle the present obligation at the end of the reporting period. Accounting policies requiring management\u2019s judgement and key sources of estimation uncertaintyIn preparing the financial statements it is necessary to make forward-looking estimates and assumptions which may not, in fact, turn out to be true. In addition, it is necessary to use judgement in applying accounting policies to the financial statements. The foremost estimates concern the utilisation of deferred tax assets against future taxable income and the assumptions used in the impairment testing. Other estimates requiring management\u2019s judgement mainly concerns the amount of non-marketable inventories, impairment of trade receivables, the amount of guarantee provisions and the definition of the lease period in lease contracts of indefinite duration under IFRS 16. Estimates and assumptions are based on management\u2019s current best knowledge at the end of the reporting period, reflecting historical experience and other reasonable assumptions.Going concern assumptionThe financial statements for the financial year 2024 have been prepared on a going concern basis, which assumes that Martela will be able to meet its liabilities and obligations arising from its operations in the foreseeable future as part of its normal business operations. When assessing the going concern assumption, Martela\u2019s management has taken into account the uncertainties and risks related to the business environment, the company\u2019s available funding sources, and the cash flow forecasts of the various group companies\u2019 operations over the next 12 months. The company\u2019s long-term and short-term financial liabilities are mainly deferred lease commitments, which are amortised in monthly rent payments and do not involve any covenants or other maturity terms. The company\u2019s most significant lease agreements are long-term.The business environment has been extremely challenging in recent years, and as a result, the group\u2019s liquidity situation has weakened, especially during 2024. The risk related to liquidity is managed, among other things, by adjusting costs and increasing operational efficiency. In addition, the aim is to increase product margins as much as possible without reducing the total volume of turnover. In addition, the aim is to accelerate the turnover rate of working capital, for example by reducing inventory levels and increasing the invoicing frequency through advance invoicing. The company is also exploring opportunities for using new sources of financing. The company has taken structural adjustment and efficiency measures in the early part of 2024, which will be fully reflected in 2025. In addition, the new adjustment measures initiated in early 2025 aim to improve the company\u2019s cost-efficiency for the most part in 2025 and fully in 2026.The assumption of continuity of operations is related to the above-mentioned uncertainties mainly caused by the unfavourable market situation, as well as risks mainly related to liquidity, which Martela\u2019s management estimates can be controlled with the measures initiated and planned by the company. In the opinion of the company\u2019s management and the Board of Directors, the 2024 financial statements do not involve significant uncertainty regarding the going concern assumption in accordance with the IFRS standard.Impairment testingThe carrying amounts of non-current assets are assessed at the end of each reporting period to observe whether there are any indications that the balance sheet value of an asset or a cash-generating unit exceeds the recoverable amount of it. If such indications exist, the recoverable amount of the asset will be estimated at the higher of its fair value less costs to sell and its value in use. Value in use is calculated based on discounted forecast cash flows. An impairment loss is recognised if the balance sheet value of an asset or a cash-generating unit exceeds the recoverable amount of it. Impairment losses are recognised in the statement of comprehensive income.If there are indications that impairment losses no longer exist or that they have diminished, the recoverable amount is estimated. An impairment loss previously recognised in the statement of comprehensive income is reversed if the estimates used in measuring the recoverable income have changed. However, an impairment loss cannot be reversed to an extent more than what the carrying amount of the asset or cash-generating unit would be without recognition of an impairment loss. Goodwill is tested for impairment annually regardless of whether there is any indication of impairment. An impairment loss in respect of goodwill is never reversed. (Note 10)The recoverable amounts of cash generating units have been determined using calculations based on value in use. In the calculations, forecast cash flows are based on financial plans approved by management, covering a period of five years. The central assumptions concern development of growth and profitability. The cash flows beyond the five-year period are estimated based on 1,5 per cent growth.Deferred tax receivablesThe prerequisites for recognition of deferred classified as short-term or long-term when the company has the right to postpone the payment of the debt for at least 12 months.Amendments to the IFRS16 standard Leases: lease liabilities in sales and leasebacks. The change requires the seller-lessee to subsequently value the lease liabilities arising from the sublease in a way that does not record any part of the profit or loss related to the seller-lessee\u2019s right of use. The new requirements do not prevent the seller-lessee from recording a profit or loss in the income statement related to the partial or complete termination of the lease agreement.Amendments to the IAS 7 standard Cash flow statement and to the IFRS 7 standard Financial instruments: Disclosures: Supplier Finance Arrangements. The amendment provides additional disclosures about supplier finance arrangements that enable investors to assess the effects on a company\u2019s debts, cash flows and exposure to liquidity risk. The amendments did not have any significant impact on the consolidated financial statements.NEW IFRS STANDARDS, AMENDMENTS TO STANDARDS AND IFRIC INTERPRETATIONS THAT HAVE NOT YET BEEN IMPLEMENTEDIAS 21 Lack of Exchangeability \u2013 The Amendments introduce requirements to assess when a currency is exchangeable into another currency and when it is not. The Amendments require an entity to estimate the spot exchange rate when it concludes that a currency is not exchangeable into another currency.The new IFRS standards, changes to standards and IFRIC interpretations listed above that come into force on or after 1 January 2025 are not estimated to have a material impact on the group.tax receivables are assessed at the end of each reporting period. Assumptions made by the managers of the Group companies on taxable income in future financial periods have been taken into account when evaluating the amount of deferred tax assets. Various internal and external factors can have a positive or negative effect on deferred tax assets. These include restructuring in the Group, amendments to tax laws (such as changes to tax rates or a change to the period of utilisation of confirmed deductible tax losses) and changes to the interpretations of tax regulations. Deferred tax assets recognised in an earlier reporting period are recognised in expenses in the consolidated statement of comprehensive income if the unit in question is not expected to accumulate sufficient taxable income to be able to utilise the temporary differences, such as confirmed tax losses, on which the deferred tax assets are based.Deferred tax assets are not recorded for taxation losses in subsidiaries.Financial Statement prepared in ESEF FormatFinancial Statements in Annual Report are prepared in ESEF format, in which it is marked up with XBRL tags according to ESEF taxonomy. The machine readable material is audited.New and amended IFRS-standards and interpretations effective from 2024 onwardsIn 2024 and thereafter, the Group has adopted the following new and revised standards and interpretations issued by the IASB:Amendments to the standard IAS 1, Classification of liabilities into current and non-current. The standard change clarifies how debts should be The IFRS18 Information presented in the financial statements standard may have a significant impact on the information presented in the group\u2019s financial statements in the future.Events after the end of the financial yearOn January 3, 2025, the company announced that it was planning to streamline its operations. According to the release, the challenging market conditions in the industry over the past few years have affected Martela\u2019s operating environment, weakening business volume and profitability. The ongoing economic recovery is positively impacting the industry situation, but there are still uncertainties regarding the strength of the recovery in key market areas. For the reasons mentioned above, Martela is planning to streamline and reorganise its operations in order to mitigate the negative effects caused by the market situation, adjust its cost structure to match the prevailing conditions, and bring flexibility to the uncertainty driven by demand. The planned personnel savings and other cost-saving measures are expected to result in annual cost savings of approximately EUR 1.5 to 2.0 million. According to the preliminary estimate, the planned actions could lead to a permanent reduction of around 20 job positions. The planned measures will affect Martela Group\u2019s employees in Finland, Sweden, and Norway. Additionally, there are plans to use layoff procedures to achieve the necessary temporary flexibility. Martela is in close discussions with employees and employee representatives regarding the changes. The negotiation processes and their timelines will vary by country.On January 17, 2025, the company announced preliminary information about its revenue and operating profit for 2024. The company stated that, according to preliminary unaudited financial statements, Martela Group\u2019s operating profit for the full year 2024 did not meet the level outlined in the guidance provided on December 11, 2024. According to the preliminary unaudited financial statements, both revenue and operating profit for the full year 2024 declined compared to the previous year. Revenue was approximately 87 million euros (94.4), and the operating loss was between EUR 6.3 and 6.7 million (-2.4).On January 30, 2025, the company announced that it would streamline the composition of its executive team. The goal of the change is to enhance operations, standardise the development of Martela\u2019s products and services, and strengthen the position of Martela\u2019s products in the market. As part of this, technical product development will move from the Product & Design unit to the Operations business unit, and product portfolio management will be transferred to a new Brand, Products & Services unit. These changes will lead to adjustments in the group\u2019s executive team. Eeva Ter\u00e4v\u00e4 will begin as the leader of the new Brand, Products & Services unit on February 1, 2025. Kari Leino, who previously led the Product & Design unit, will continue as the product portfolio and design director in the Brand, Products & Services unit starting from February 1, 2025.There are no other significant events to report after the period from January to December 2024, and operations have continued as planned.", "dimensions": { "concept": "ifrs-full:DisclosureOfMaterialAccountingPolicyInformationExplanatory", "language": "en", "entity": "scheme:743700M4EIEVD61PNN55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "f0__s6__6__15": { "value": "Martela GroupMartela Corporation supplies ergonomic and innovative furniture solutions and provides interior planning services.The Group\u2019s parent company is Martela Oyj, a Finnish public limited company domiciled in Espoo, street address Miestentie 1, 02150 Espoo. The company\u2019s A shares are listed on Nasdaq Helsinki.The Group\u2019s financial statements are available online at Martela\u2019s home pages www.martela.com.These financial statements were authorised for issue by the Board of Directors of Martela Oyj on February 11, 2025. The Finnish Limited Liability Companies Act permits the shareholders to approve or reject the financial statements in the Annual General Meeting that is held after publishing the financial statements. As well, the Annual General Meeting has a possibility to amend the financial statements.BASIS OF PREPARATIONMartela\u2019s consolidated financial statements are prepared in accordance with the International Financial Reporting Standards (IFRS) as on December 31, 2024. As referred to in the Finnish Accounting Act and in ordinances issued pursuant to the provisions of this Act, the International Financial Reporting Standards refer to the standards and their interpretations adopted in accordance with the procedure laid down in Regulation (EC) No 1606/2002 of the EU. The notes to the consolidated financial statements also conform with additional requirements of the Finnish accounting and company legislation.The consolidated financial statements are presented in thousands of euros and have been prepared on the historical cost basis except as disclosed in the accounting policies. All presented figures have been rounded, which is why the sum of individual figures might deviate from the presented sum. The key financial indicators have been calculated using exact figures. Martela\u2019s consolidated financial statements cover the full calendar year, and this represents the financial period for the parent company and the Group companies.USE OF ESTIMATESThe preparation of the financial statements in conformity with IFRS requires Group management to make certain estimates and to use judgement when applying accounting policies. The section \u201cAccounting policies requiring management\u2019s judgement and key sources of estimation uncertainty\u201d refers to the judgements made by management and those financial statement items on which judgements have a significant effect.", "dimensions": { "concept": "ifrs-full:DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory", "language": "en", "entity": "scheme:743700M4EIEVD61PNN55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "f0__s6__6__5": { "value": "Martela Corporation supplies ergonomic and innovative furniture solutions and provides interior planning services.", "dimensions": { "concept": "ifrs-full:DescriptionOfNatureOfEntitysOperationsAndPrincipalActivities", "language": "en", "entity": "scheme:743700M4EIEVD61PNN55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "f0__s6__6__8": { "value": "Martela Oyj", "dimensions": { "concept": "ifrs-full:NameOfUltimateParentOfGroup", "language": "en", "entity": "scheme:743700M4EIEVD61PNN55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "f0__s6__6__7": { "value": "Martela Oyj", "dimensions": { "concept": "ifrs-full:NameOfParentEntity", "language": "en", "entity": "scheme:743700M4EIEVD61PNN55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "f0__s6__6__6": { "value": "Martela Oyj", "dimensions": { "concept": "ifrs-full:NameOfReportingEntityOrOtherMeansOfIdentification", "language": "en", "entity": "scheme:743700M4EIEVD61PNN55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "f0__s6__6__9": { "value": "a Finnish", "dimensions": { "concept": "ifrs-full:CountryOfIncorporation", "language": "en", "entity": "scheme:743700M4EIEVD61PNN55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "f0__s6__6__11": { "value": "public limited company", "dimensions": { "concept": "ifrs-full:LegalFormOfEntity", "language": "en", "entity": "scheme:743700M4EIEVD61PNN55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "f0__s6__6__12": { "value": "Espoo", "dimensions": { "concept": "ifrs-full:PrincipalPlaceOfBusiness", "language": "en", "entity": "scheme:743700M4EIEVD61PNN55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "f0__s6__6__10": { "value": "Espoo", "dimensions": { "concept": "ifrs-full:DomicileOfEntity", "language": "en", "entity": "scheme:743700M4EIEVD61PNN55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "f0__s6__6__13": { "value": "Miestentie 1, 02150 Espoo", "dimensions": { "concept": "ifrs-full:AddressOfRegisteredOfficeOfEntity", "language": "en", "entity": "scheme:743700M4EIEVD61PNN55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "f0__s6__6__14": { "value": "These financial statements were authorised for issue by the Board of Directors of Martela Oyj on February 11, 2025. The Finnish Limited Liability Companies Act permits the shareholders to approve or reject the financial statements in the Annual General Meeting that is held after publishing the financial statements.", "dimensions": { "concept": "ifrs-full:DisclosureOfAuthorisationOfFinancialStatementsExplanatory", "language": "en", "entity": "scheme:743700M4EIEVD61PNN55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "f0__s6__6__16": { "value": "BASIS OF PREPARATIONMartela\u2019s consolidated financial statements are prepared in accordance with the International Financial Reporting Standards (IFRS) as on December 31, 2024. As referred to in the Finnish Accounting Act and in ordinances issued pursuant to the provisions of this Act, the International Financial Reporting Standards refer to the standards and their interpretations adopted in accordance with the procedure laid down in Regulation (EC) No 1606/2002 of the EU. The notes to the consolidated financial statements also conform with additional requirements of the Finnish accounting and company legislation.The consolidated financial statements are presented in thousands of euros and have been prepared on the historical cost basis except as disclosed in the accounting policies. All presented figures have been rounded, which is why the sum of individual figures might deviate from the presented sum. The key financial indicators have been calculated using exact figures. Martela\u2019s consolidated financial statements cover the full calendar year, and this represents the financial period for the parent company and the Group companies.", "dimensions": { "concept": "ifrs-full:StatementOfIFRSCompliance", "language": "en", "entity": "scheme:743700M4EIEVD61PNN55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "f0__s6__6__18": { "value": "Principles of consolidationThe consolidated financial statements include the parent company, Martela Oyj, and all the subsidiaries in which the parent company controls, directly or indirectly, more than 50 per cent of the voting power of the shares, or otherwise has control. Martela is considered to be in control of a subsidiary when it is exposed, or has rights, to variable returns from its involvement with the subsidiary and has the ability to affect those returns through its power over the subsidiary. Subsidiaries are included in the consolidated financial statements by using the acquisition method. The intra-group transactions, unrealised margins on intra-group deliveries, intra-group receivables and liabilities and profit distribution are eliminated.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForSubsidiariesExplanatory", "language": "en", "entity": "scheme:743700M4EIEVD61PNN55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "f0__s6__6__17-1": { "value": "Principles of consolidationThe consolidated financial statements include the parent company, Martela Oyj, and all the subsidiaries in which the parent company controls, directly or indirectly, more than 50 per cent of the voting power of the shares, or otherwise has control. Martela is considered to be in control of a subsidiary when it is exposed, or has rights, to variable returns from its involvement with the subsidiary and has the ability to affect those returns through its power over the subsidiary. Subsidiaries are included in the consolidated financial statements by using the acquisition method. The intra-group transactions, unrealised margins on intra-group deliveries, intra-group receivables and liabilities and profit distribution are eliminated.GOODWILLGoodwill resulting from business combinations represents the excess of the consideration transferred over the fair value of the net identifiable assets acquired. Goodwill is tested annually or more frequently if there are indications that the value might be impaired. Testing is performed at least at the end of each financial year. For this purpose goodwill is allocated to cash generating units. An impairment loss is recognised whenever the carrying amount of cash-generating unit exceeds the recoverable amount. Impairment losses are recognised in the comprehensive income statement. An impairment loss in respect of goodwill is never reversed.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForBusinessCombinationsAndGoodwillExplanatory", "language": "en", "entity": "scheme:743700M4EIEVD61PNN55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "f0__s6__6__19": { "value": "Items denominated in foreign currencyTransactions in foreign currencies are translated at the exchange rate prevailing on the date of the transaction \u2013 in practice, for transactions taking place within any given month, a rate is used that approximates the rate of the transaction date. At the end of the reporting period, the monetary assets and liabilities are translated into functional currencies at the exchange rate at the end of the reporting period. Exchange rate gains and losses related to business operations are treated as adjustments to the purchases and sales. Exchange rate gains and losses in financing are treated as adjustments to financial income and expenses.The statements of comprehensive income and cash flows of foreign subsidiaries for the period are translated into euros at the average rates for the financial year, and the balance sheets at the average rates of the European Central Bank at the end of the reporting period. The translation of the profit or loss and comprehensive income for the period at different exchange rates in the statement of comprehensive income and in the balance sheet causes a translation difference which is recognised in other comprehensive income. The exchange rate differences arising from the elimination of the cost of the foreign subsidiaries and the exchange rate differences arising from the translation of post-acquisition equity are also recognised in other comprehensive income. Similar treatment is applied to intra-group non-current loans which in substance are equity and form a part of the net investment in the operation in question. When a subsidiary is disposed of, all or in part, the accumulated translation differences are reclassified to profit and loss as part of the gain or loss on disposal.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory", "language": "en", "entity": "scheme:743700M4EIEVD61PNN55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "f0__s6__6__20": { "value": "Revenue recognition principlesFurniture is mainly delivered as installed at customer. The control of the furniture is transferred to the customer when the deliverables form the contract are fulfilled, i.e. the furniture is delivered and installed at customer and the customer has approved the delivery. The significant risks and rewards of ownership of the furniture is also transferred to the buyer through the approval of the delivery. Revenue from sold goods is recognised as the control of the goods is transferred to the buyer according to the agreement. The normal warranty for standard Martela produced products in normal use is five years and for other standard products two years.Consultative services consist of workshops and interviews for specification of the demands placed on the work environment and interior planning services. The deliverable is fulfilled and the control is transferred to the customer as the product of the service is delivered to the customer. Revenue from consultative services is recognised as the deliverable is fulfilled.In removals services the value of the service is received by the customer as Martela provides the service. In such cases the revenue is recognised over time. The removal services provided by Martela are mainly short in duration. In case a removal services project lasts for several months is the revenue recognised based on either invoicing of the achieved project milestones or based on actual work hours registered for the project.The transaction prices for the sold goods and services are defined for each deliverable on the sales orders and no variable considerations are in use. Martela does not have capitalised costs for obtaining or of fulfilling customer contracts. Sales receivables are typically due latest within two months from invoicing. The customer contracts do not include significant financing components provided by Martela.Revenue consists of income from customer contracts according to IFRS 15 and income from customer contracts that are classified as leases based on the contract contents, and are treated in accordance to IFRS 16.Leases in which substantially all the risks and rewards incidental to ownership of an asset remain with the lessor are classified as operative lease contracts and recognised as revenue in the statement of comprehensive income on a straight-line basis over the lease term.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForRecognitionOfRevenue", "language": "en", "entity": "scheme:743700M4EIEVD61PNN55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "f0__s6__6__21": { "value": "PENSION LIABILITIESThe Group has arranged defined contribution plans and defined benefit plans for retirement. A defined contribution plan is a pension plan under which the Group pays fixed contributions into a separate entity. The Group has no legal or constructive obligations to pay further contributions if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods. A defined benefit plan is a pension plan that is not a defined contribution plan. Contributions made to defined contribution plans are recognised in profit or loss as an expense as incurred. The obligations of defined benefit plans are calculated separately for each plan. The projected unit credit method is used in the calculation. Pension costs are recognised as an expense over the service period of personnel based on calculations performed by qualified actuaries. In calculating the present value of a pension obligation, the market yield of corporate high-grade bonds or the interest rate of government bonds are used as the discount rate. Their maturity corresponds to a significant extent with the maturity of the computed pension liability.Pension expenses (service cost in the period) and the net interest for the net debt related to the defined benefit pension plan are recognised through profit or loss. Pension expenses are included in employee benefit expenses. Items resulting from the remeasurement of the net debt (or net asset) related to the defined benefit plan are recorded in items of other comprehensive income in the financial period during which they emerge. These include actuarial gains and losses and returns on assets included in the plan, among other items. Past service costs are recognised in expenses through profit or loss on the earlier of the following dates: the date when the plan is amended or reduced, or the date when the entity recognises the reorganisation expenses related to this or the benefits related to the termination of the employment relationship.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory", "language": "en", "entity": "scheme:743700M4EIEVD61PNN55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "f0__s6__6__22": { "value": "SHARE-BASED PAYMENTS In the Group\u2019s share-based incentive system, with vesting periods 2024, 2025 and 2026, payments are made in a combination of shares and cash. Share rewards are measured at fair value at the grant date and recognised as expenses over the vesting period. The vesting conditions are taken into account in the number of shares which are expected to vest by the end of the validity period. Measurements are adjusted at the end of each reporting period and the settlement is recognised under equity. The expense determined at the time of granting the share-based incentives is based on the Group\u2019s estimate of the number of shares which are expected to vest by the end of the vesting period. The assumed vesting takes account of the maximum incentive, the assumed achievement of non-market-based earnings targets and the reduction of persons participating the plan. The Group updates the estimate of the final number of shares at the end of each reporting period. Their impact on profit or loss is presented in the statement of comprehensive income under employment benefits expenses", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory", "language": "en", "entity": "scheme:743700M4EIEVD61PNN55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "f0__s6__6__23": { "value": "Income taxesThe taxes recognised in the consolidated statement of comprehensive income include current tax based on the taxable income of the Group companies for the financial year, taxes for previous years and the change in deferred taxes. For transactions and other events recognised in profit or loss, any related tax effects are also recognised in profit or loss. For transactions and other events recognised outside profit or loss (either in other comprehensive income or directly in equity), any related tax effects are also recognised either in other comprehensive income or directly in equity, respectively.Deferred tax assets and liabilities are recognised on temporary differences between the tax bases and IFRS carrying values of assets and liabilities in the financial statements. A deferred tax asset is recognised only to the extent that it is probable that taxable profit will be available against which it can be used. Deferred tax liabilities are recognised to the full extent in the balance sheet. Deferred taxes are measured by using the tax rates enacted or substantively enacted by the end of the reporting period.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForIncomeTaxExplanatory", "language": "en", "entity": "scheme:743700M4EIEVD61PNN55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "f0__s6__6__24": { "value": "Intangible assetsGOODWILLGoodwill resulting from business combinations represents the excess of the consideration transferred over the fair value of the net identifiable assets acquired. Goodwill is tested annually or more frequently if there are indications that the value might be impaired. Testing is performed at least at the end of each financial year. For this purpose goodwill is allocated to cash generating units. An impairment loss is recognised whenever the carrying amount of cash-generating unit exceeds the recoverable amount. Impairment losses are recognised in the comprehensive income statement. An impairment loss in respect of goodwill is never reversed.RESEARCH AND DEVELOPMENTResearch and development is active and continuous in the Group and if individual development projects are of such a scope in relation to operations and if the capitalisation criteria are fulfilled these projects are capitalised. Research expenditure is recognised as an expense when incurred. R&D-related equipment is capitalised in machinery and equipment. There has been no development costs that met the capitalisation criteria during the financial year.OTHER INTANGIBLE ASSETSAn intangible asset is initially capitalised in the balance sheet at cost if the cost can be measured reliably and it is probable that the expected future economic benefits that are attributable to the asset will flow to the Group. Other intangible assets include software licences, IT-programmes, patents and other corresponding rights. Patents, licences and other rights are measured at historical cost, less amortisation and any impairment.The useful lives of intangible assets are as follows:Licences \u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026 3\u20135 yearsIT-programmes \u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u20263\u201310 years Customer ship \u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026 4 yearsBrands \u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u20266 yearsPatents and other corresponding rights \u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026 10 yearsAmortisation is recognised using the straight-line method.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsAndGoodwillExplanatory", "language": "en", "entity": "scheme:743700M4EIEVD61PNN55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "f0__s6__6__26": { "value": "GOODWILLGoodwill resulting from business combinations represents the excess of the consideration transferred over the fair value of the net identifiable assets acquired. Goodwill is tested annually or more frequently if there are indications that the value might be impaired. Testing is performed at least at the end of each financial year. For this purpose goodwill is allocated to cash generating units. An impairment loss is recognised whenever the carrying amount of cash-generating unit exceeds the recoverable amount. Impairment losses are recognised in the comprehensive income statement. An impairment loss in respect of goodwill is never reversed.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForGoodwillExplanatory", "language": "en", "entity": "scheme:743700M4EIEVD61PNN55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "f0__s6__6__27": { "value": "RESEARCH AND DEVELOPMENTResearch and development is active and continuous in the Group and if individual development projects are of such a scope in relation to operations and if the capitalisation criteria are fulfilled these projects are capitalised. Research expenditure is recognised as an expense when incurred. R&D-related equipment is capitalised in machinery and equipment. There has been no development costs that met the capitalisation criteria during the financial year.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForResearchAndDevelopmentExpenseExplanatory", "language": "en", "entity": "scheme:743700M4EIEVD61PNN55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "f0__s6__6__28": { "value": "OTHER INTANGIBLE ASSETSAn intangible asset is initially capitalised in the balance sheet at cost if the cost can be measured reliably and it is probable that the expected future economic benefits that are attributable to the asset will flow to the Group. Other intangible assets include software licences, IT-programmes, patents and other corresponding rights. Patents, licences and other rights are measured at historical cost, less amortisation and any impairment.The useful lives of intangible assets are as follows:Licences \u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026 3\u20135 yearsIT-programmes \u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u20263\u201310 years Customer ship \u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026 4 yearsBrands \u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u20266 yearsPatents and other corresponding rights \u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026 10 yearsAmortisation is recognised using the straight-line method.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsOtherThanGoodwillExplanatory", "language": "en", "entity": "scheme:743700M4EIEVD61PNN55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "f0__s6__6__29": { "value": "Tangible assetsLand, buildings, machinery and equipment constitute the majority of tangible assets. They are measured in the balance sheet at historical cost, less accumulated depreciation and any impairment. When a part of an item of property, plant and equipment (accounted for as a separate asset) is renewed, the expenditure related to the new item is capitalised and the possibly remaining balance sheet value removed from the balance sheet. Other expenditure arising later is capitalised only when future economic benefits will flow to the Group. Other expenditure for repairs or maintenance is expensed when it is incurred. Those borrowing costs directly attributable to the acquisition, construction or production of a qualifying asset are capitalised as part of the cost of that asset.Depreciation is calculated on a straight-line basis over the estimated useful life of the asset. A tangible asset once classified as held for sale is not depreciated. Land is not depreciated. The estimated depreciation periods are as follows:Buildings \u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026 15\u201330 yearsMachinery and equipment \u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026 3\u20138 yearsThe residual values and useful lives of tangible assets are reviewed at least at each financial year-end and, if necessary, are adjusted to reflect changes in the expected future economic benefits.Gains and losses from the sale or disposal of tangible assets are recognised in profit and loss and presented under other operating income or other operating expenses.IMPAIRMENT OF TANGIBLE AND INTANGIBLE ASSETSThe carrying amounts of assets are assessed at the end of each reporting period to observe whether there are any indications that an asset may be impaired. If such indications exist, the recoverable amount of the asset will be estimated at the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised if the balance sheet value of an asset or a cash-generating unit exceeds the recoverable amount of it. Impairment losses are recognised in the statement of comprehensive income. If there are indications that impairment losses no longer exist or that they have diminished, the recoverable amount is estimated. An impairment loss previously recognised in the statement of comprehensive income is reversed if the estimates used in measuring the recoverable income have changed. However, an impairment loss cannot be reversed to an extent more than what the carrying amount of the asset or cash-generating unit would be without recognition of an impairment loss.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory", "language": "en", "entity": "scheme:743700M4EIEVD61PNN55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "f0__s6__6__31-1": { "value": "IMPAIRMENT OF TANGIBLE AND INTANGIBLE ASSETSThe carrying amounts of assets are assessed at the end of each reporting period to observe whether there are any indications that an asset may be impaired. If such indications exist, the recoverable amount of the asset will be estimated at the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised if the balance sheet value of an asset or a cash-generating unit exceeds the recoverable amount of it. Impairment losses are recognised in the statement of comprehensive income. If there are indications that impairment losses no longer exist or that they have diminished, the recoverable amount is estimated. An impairment loss previously recognised in the statement of comprehensive income is reversed if the estimates used in measuring the recoverable income have changed. However, an impairment loss cannot be reversed to an extent more than what the carrying amount of the asset or cash-generating unit would be without recognition of an impairment loss.Impairment testingThe carrying amounts of non-current assets are assessed at the end of each reporting period to observe whether there are any indications that the balance sheet value of an asset or a cash-generating unit exceeds the recoverable amount of it. If such indications exist, the recoverable amount of the asset will be estimated at the higher of its fair value less costs to sell and its value in use. Value in use is calculated based on discounted forecast cash flows. An impairment loss is recognised if the balance sheet value of an asset or a cash-generating unit exceeds the recoverable amount of it. Impairment losses are recognised in the statement of comprehensive income.If there are indications that impairment losses no longer exist or that they have diminished, the recoverable amount is estimated. An impairment loss previously recognised in the statement of comprehensive income is reversed if the estimates used in measuring the recoverable income have changed. However, an impairment loss cannot be reversed to an extent more than what the carrying amount of the asset or cash-generating unit would be without recognition of an impairment loss. Goodwill is tested for impairment annually regardless of whether there is any indication of impairment. An impairment loss in respect of goodwill is never reversed. (Note 10)The recoverable amounts of cash generating units have been determined using calculations based on value in use. In the calculations, forecast cash flows are based on financial plans approved by management, covering a period of five years. The central assumptions concern development of growth and profitability. The cash flows beyond the five-year period are estimated based on 1,5 per cent growth.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfAssetsExplanatory", "language": "en", "entity": "scheme:743700M4EIEVD61PNN55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "f0__s6__6__30-1": { "value": "IMPAIRMENT OF TANGIBLE AND INTANGIBLE ASSETSThe carrying amounts of assets are assessed at the end of each reporting period to observe whether there are any indications that an asset may be impaired. If such indications exist, the recoverable amount of the asset will be estimated at the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised if the balance sheet value of an asset or a cash-generating unit exceeds the recoverable amount of it. Impairment losses are recognised in the statement of comprehensive income. If there are indications that impairment losses no longer exist or that they have diminished, the recoverable amount is estimated. An impairment loss previously recognised in the statement of comprehensive income is reversed if the estimates used in measuring the recoverable income have changed. However, an impairment loss cannot be reversed to an extent more than what the carrying amount of the asset or cash-generating unit would be without recognition of an impairment loss.Impairment testingThe carrying amounts of non-current assets are assessed at the end of each reporting period to observe whether there are any indications that the balance sheet value of an asset or a cash-generating unit exceeds the recoverable amount of it. If such indications exist, the recoverable amount of the asset will be estimated at the higher of its fair value less costs to sell and its value in use. Value in use is calculated based on discounted forecast cash flows. An impairment loss is recognised if the balance sheet value of an asset or a cash-generating unit exceeds the recoverable amount of it. Impairment losses are recognised in the statement of comprehensive income.If there are indications that impairment losses no longer exist or that they have diminished, the recoverable amount is estimated. An impairment loss previously recognised in the statement of comprehensive income is reversed if the estimates used in measuring the recoverable income have changed. However, an impairment loss cannot be reversed to an extent more than what the carrying amount of the asset or cash-generating unit would be without recognition of an impairment loss. Goodwill is tested for impairment annually regardless of whether there is any indication of impairment. An impairment loss in respect of goodwill is never reversed. (Note 10)The recoverable amounts of cash generating units have been determined using calculations based on value in use. In the calculations, forecast cash flows are based on financial plans approved by management, covering a period of five years. The central assumptions concern development of growth and profitability. The cash flows beyond the five-year period are estimated based on 1,5 per cent growth.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory", "language": "en", "entity": "scheme:743700M4EIEVD61PNN55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "f0__s6__6__32": { "value": "LeasesMartela\u2019s lease contracts consist mainly of office spaces, cars and IT-equipment. The lease contracts of cars and IT-equipment are time limited whereas the contracts for office spaces are open ended as well as time limited. The lease contracts do not include variable lease payments. Lease agreements, for which the lease period is beyond 12 months, are according to IFRS 16 recognised on the balance sheet as a right-of-use assets and lease liabilities. The right-of-use assets decreased with the accumulated depreciations are recognised as tangible assets. The right-of-use assets are depreciated over the lease period or an estimated period if longer. Estimated rental periods, are used for lease agreements of indefinite duration. The estimated rental periods are 2 years for rented offices and sales facilities and 1 year for warehouses. Martela applies the exemptions to IFRS 16 and does not apply IFRS 16 to short-term leases for which the lease term ends within 12 months and leases of low-value assets, which are not offices or warehouses in use by Martela. The payments for these are recognised as equal instalments over the rental period in the consolidated statement of comprehensive income.The lease liabilities have been discounted at the borrowing rate. Company also operates as lessor of furniture. Accounting principles of these are described under revenue recognition principles.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForLeasesExplanatory", "language": "en", "entity": "scheme:743700M4EIEVD61PNN55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "f0__s6__6__33": { "value": "InventoriesInventories are measured at the lower of cost and net realisable value. The value of inventories is determined by using weighted average purchase prices and it includes all direct expenditure incurred by acquiring the inventories and also a part of the production overhead costs. Net realisable value is the estimated selling price in the ordinary course of business less the estimated costs of completion and the estimated costs necessary to make the sale. Inventory value includes adjustments caused by obsolescence.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForMeasuringInventories", "language": "en", "entity": "scheme:743700M4EIEVD61PNN55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "f0__s6__6__37": { "value": "Financial assetsGroup\u2019s financial assets are classified into the following groups: financial assets at fair value through profit or loss, financial assets at fair value through other comprehensive income and financial assets measured at amortised costs. The classification depends on the purpose of acquiring the financial assets, and they are classified at the time of initial acquisition. All purchases and sales of financial assets are recognised and derecognised on the trade date. The Group derecognises financial assets when it has lost its right to receive the cash flows or when it has transferred substantially all the risks and rewards to an external party. Financial assets measured at amortised costs include assets that are held in a business model whose object is achieved by holding the assets and collecting contractual cash flows until the due date. The cash flow from the assets consists of solely payments of principal and interest on the principal amount outstanding. They are originally recognised at fair value and subsequently measured at amortised cost. The group recognises a deduction in the financial assets recognised at amortised cost based on expected credit losses. These assets are included in either current or non-current financial assets (they are included in the latter if they mature over 12 months later). The category includes loan, trade and other receivables that are not derivatives. Cash and cash equivalents comprise cash in hand, in banks and in demand bank deposits, as well as other current, very liquid investments. Items qualifying as cash and cash equivalents have original maturities of three months or less from the date of acquisition.IMPAIRMENT OF FINANCIAL ASSETSAt the end of each reporting period, the Group assesses whether objective evidence exists of the impairment of an individual financial asset or a group of financial assets. Impairment will be recognised through profit or loss.A simplified model according to IFRS 9 is used in assessing the expected credit losses on trade receivables: credit losses are recognised to an amount that represents the expected credit losses for the full lifetime. The expected credit losses are assessed based on historical information on credit losses and on the information on the future financial circumstances available on the review date.FINANCIAL LIABILITIES The Group classifies its financial liabilities as financial liabilities measured at amortised cost (mainly includes borrowings from financial institutions, IFRS 16 lease liabilities and trade payables). Financial liabilities are initially recognised at fair value and are subsequently measured either at amortised cost or at fair value, based on the classification made. Financial liabilities are included in current and non-current liabilities and they can be interest-bearing or non-interest-bearing. Bank overdrafts are included in current interest-bearing liabilities. Financial liabilities are regarded as current, unless the Group has an absolute right to postpone the repayment of the debt until a minimum of 12 months after the end of the reporting period. Financial liabilities (in full or in part) are not eliminated from the balance sheet until the debt has ceased to exist \u2013 in other words, when the obligation specified in the agreement has been fulfilled or rescinded or ceases to be valid.The Group uses derivative financial instruments, to hedge its electricity price risk. The Group doesn\u2019t apply hedge accounting, but derivatives are recognised at fair value through the statement of profit or loss at each balance sheet date according to the closing rate of the period. Derivatives are carried as financial assets when the fair value is positive and as financial liabilities when the fair value is negative. The change in fair value is recognised in income statement in raw material and consumables used.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:743700M4EIEVD61PNN55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "f0__s6__6__35": { "value": "Financial assetsGroup\u2019s financial assets are classified into the following groups: financial assets at fair value through profit or loss, financial assets at fair value through other comprehensive income and financial assets measured at amortised costs. The classification depends on the purpose of acquiring the financial assets, and they are classified at the time of initial acquisition. All purchases and sales of financial assets are recognised and derecognised on the trade date. The Group derecognises financial assets when it has lost its right to receive the cash flows or when it has transferred substantially all the risks and rewards to an external party. Financial assets measured at amortised costs include assets that are held in a business model whose object is achieved by holding the assets and collecting contractual cash flows until the due date. The cash flow from the assets consists of solely payments of principal and interest on the principal amount outstanding. They are originally recognised at fair value and subsequently measured at amortised cost. The group recognises a deduction in the financial assets recognised at amortised cost based on expected credit losses. These assets are included in either current or non-current financial assets (they are included in the latter if they mature over 12 months later). The category includes loan, trade and other receivables that are not derivatives. Cash and cash equivalents comprise cash in hand, in banks and in demand bank deposits, as well as other current, very liquid investments. Items qualifying as cash and cash equivalents have original maturities of three months or less from the date of acquisition.IMPAIRMENT OF FINANCIAL ASSETSAt the end of each reporting period, the Group assesses whether objective evidence exists of the impairment of an individual financial asset or a group of financial assets. Impairment will be recognised through profit or loss.A simplified model according to IFRS 9 is used in assessing the expected credit losses on trade receivables: credit losses are recognised to an amount that represents the expected credit losses for the full lifetime. The expected credit losses are assessed based on historical information on credit losses and on the information on the future financial circumstances available on the review date.FINANCIAL LIABILITIES The Group classifies its financial liabilities as financial liabilities measured at amortised cost (mainly includes borrowings from financial institutions, IFRS 16 lease liabilities and trade payables). Financial liabilities are initially recognised at fair value and are subsequently measured either at amortised cost or at fair value, based on the classification made. Financial liabilities are included in current and non-current liabilities and they can be interest-bearing or non-interest-bearing. Bank overdrafts are included in current interest-bearing liabilities. Financial liabilities are regarded as current, unless the Group has an absolute right to postpone the repayment of the debt until a minimum of 12 months after the end of the reporting period. Financial liabilities (in full or in part) are not eliminated from the balance sheet until the debt has ceased to exist \u2013 in other words, when the obligation specified in the agreement has been fulfilled or rescinded or ceases to be valid.The Group uses derivative financial instruments, to hedge its electricity price risk. The Group doesn\u2019t apply hedge accounting, but derivatives are recognised at fair value through the statement of profit or loss at each balance sheet date according to the closing rate of the period. Derivatives are carried as financial assets when the fair value is positive and as financial liabilities when the fair value is negative. The change in fair value is recognised in income statement in raw material and consumables used.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForLoansAndReceivablesExplanatory", "language": "en", "entity": "scheme:743700M4EIEVD61PNN55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "f0__s6__6__34": { "value": "Financial assetsGroup\u2019s financial assets are classified into the following groups: financial assets at fair value through profit or loss, financial assets at fair value through other comprehensive income and financial assets measured at amortised costs. The classification depends on the purpose of acquiring the financial assets, and they are classified at the time of initial acquisition. All purchases and sales of financial assets are recognised and derecognised on the trade date. The Group derecognises financial assets when it has lost its right to receive the cash flows or when it has transferred substantially all the risks and rewards to an external party. Financial assets measured at amortised costs include assets that are held in a business model whose object is achieved by holding the assets and collecting contractual cash flows until the due date. The cash flow from the assets consists of solely payments of principal and interest on the principal amount outstanding. They are originally recognised at fair value and subsequently measured at amortised cost. The group recognises a deduction in the financial assets recognised at amortised cost based on expected credit losses. These assets are included in either current or non-current financial assets (they are included in the latter if they mature over 12 months later). The category includes loan, trade and other receivables that are not derivatives. Cash and cash equivalents comprise cash in hand, in banks and in demand bank deposits, as well as other current, very liquid investments. Items qualifying as cash and cash equivalents have original maturities of three months or less from the date of acquisition.IMPAIRMENT OF FINANCIAL ASSETSAt the end of each reporting period, the Group assesses whether objective evidence exists of the impairment of an individual financial asset or a group of financial assets. Impairment will be recognised through profit or loss.A simplified model according to IFRS 9 is used in assessing the expected credit losses on trade receivables: credit losses are recognised to an amount that represents the expected credit losses for the full lifetime. The expected credit losses are assessed based on historical information on credit losses and on the information on the future financial circumstances available on the review date.FINANCIAL LIABILITIES The Group classifies its financial liabilities as financial liabilities measured at amortised cost (mainly includes borrowings from financial institutions, IFRS 16 lease liabilities and trade payables). Financial liabilities are initially recognised at fair value and are subsequently measured either at amortised cost or at fair value, based on the classification made. Financial liabilities are included in current and non-current liabilities and they can be interest-bearing or non-interest-bearing. Bank overdrafts are included in current interest-bearing liabilities. Financial liabilities are regarded as current, unless the Group has an absolute right to postpone the repayment of the debt until a minimum of 12 months after the end of the reporting period. Financial liabilities (in full or in part) are not eliminated from the balance sheet until the debt has ceased to exist \u2013 in other words, when the obligation specified in the agreement has been fulfilled or rescinded or ceases to be valid.The Group uses derivative financial instruments, to hedge its electricity price risk. The Group doesn\u2019t apply hedge accounting, but derivatives are recognised at fair value through the statement of profit or loss at each balance sheet date according to the closing rate of the period. Derivatives are carried as financial assets when the fair value is positive and as financial liabilities when the fair value is negative. The change in fair value is recognised in income statement in raw material and consumables used.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialAssetsExplanatory", "language": "en", "entity": "scheme:743700M4EIEVD61PNN55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "f0__s6__6__36": { "value": "Cash and cash equivalents comprise cash in hand, in banks and in demand bank deposits, as well as other current, very liquid investments. Items qualifying as cash and cash equivalents have original maturities of three months or less from the date of acquisition.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyToDetermineComponentsOfCashAndCashEquivalents", "language": "en", "entity": "scheme:743700M4EIEVD61PNN55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "f0__s6__6__38": { "value": "IMPAIRMENT OF FINANCIAL ASSETSAt the end of each reporting period, the Group assesses whether objective evidence exists of the impairment of an individual financial asset or a group of financial assets. Impairment will be recognised through profit or loss.A simplified model according to IFRS 9 is used in assessing the expected credit losses on trade receivables: credit losses are recognised to an amount that represents the expected credit losses for the full lifetime. The expected credit losses are assessed based on historical information on credit losses and on the information on the future financial circumstances available on the review date.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfFinancialAssetsExplanatory", "language": "en", "entity": "scheme:743700M4EIEVD61PNN55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "f0__s6__6__41": { "value": "FINANCIAL LIABILITIES The Group classifies its financial liabilities as financial liabilities measured at amortised cost (mainly includes borrowings from financial institutions, IFRS 16 lease liabilities and trade payables). Financial liabilities are initially recognised at fair value and are subsequently measured either at amortised cost or at fair value, based on the classification made. Financial liabilities are included in current and non-current liabilities and they can be interest-bearing or non-interest-bearing. Bank overdrafts are included in current interest-bearing liabilities. Financial liabilities are regarded as current, unless the Group has an absolute right to postpone the repayment of the debt until a minimum of 12 months after the end of the reporting period. Financial liabilities (in full or in part) are not eliminated from the balance sheet until the debt has ceased to exist \u2013 in other words, when the obligation specified in the agreement has been fulfilled or rescinded or ceases to be valid.The Group uses derivative financial instruments, to hedge its electricity price risk. The Group doesn\u2019t apply hedge accounting, but derivatives are recognised at fair value through the statement of profit or loss at each balance sheet date according to the closing rate of the period. Derivatives are carried as financial assets when the fair value is positive and as financial liabilities when the fair value is negative. The change in fair value is recognised in income statement in raw material and consumables used.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForBorrowingsExplanatory", "language": "en", "entity": "scheme:743700M4EIEVD61PNN55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "f0__s6__6__40": { "value": "FINANCIAL LIABILITIES The Group classifies its financial liabilities as financial liabilities measured at amortised cost (mainly includes borrowings from financial institutions, IFRS 16 lease liabilities and trade payables). Financial liabilities are initially recognised at fair value and are subsequently measured either at amortised cost or at fair value, based on the classification made. Financial liabilities are included in current and non-current liabilities and they can be interest-bearing or non-interest-bearing. Bank overdrafts are included in current interest-bearing liabilities. Financial liabilities are regarded as current, unless the Group has an absolute right to postpone the repayment of the debt until a minimum of 12 months after the end of the reporting period. Financial liabilities (in full or in part) are not eliminated from the balance sheet until the debt has ceased to exist \u2013 in other words, when the obligation specified in the agreement has been fulfilled or rescinded or ceases to be valid.The Group uses derivative financial instruments, to hedge its electricity price risk. The Group doesn\u2019t apply hedge accounting, but derivatives are recognised at fair value through the statement of profit or loss at each balance sheet date according to the closing rate of the period. Derivatives are carried as financial assets when the fair value is positive and as financial liabilities when the fair value is negative. The change in fair value is recognised in income statement in raw material and consumables used.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialLiabilitiesExplanatory", "language": "en", "entity": "scheme:743700M4EIEVD61PNN55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "f0__s6__6__39": { "value": "FINANCIAL LIABILITIES The Group classifies its financial liabilities as financial liabilities measured at amortised cost (mainly includes borrowings from financial institutions, IFRS 16 lease liabilities and trade payables). Financial liabilities are initially recognised at fair value and are subsequently measured either at amortised cost or at fair value, based on the classification made. Financial liabilities are included in current and non-current liabilities and they can be interest-bearing or non-interest-bearing. Bank overdrafts are included in current interest-bearing liabilities. Financial liabilities are regarded as current, unless the Group has an absolute right to postpone the repayment of the debt until a minimum of 12 months after the end of the reporting period. Financial liabilities (in full or in part) are not eliminated from the balance sheet until the debt has ceased to exist \u2013 in other words, when the obligation specified in the agreement has been fulfilled or rescinded or ceases to be valid.The Group uses derivative financial instruments, to hedge its electricity price risk. The Group doesn\u2019t apply hedge accounting, but derivatives are recognised at fair value through the statement of profit or loss at each balance sheet date according to the closing rate of the period. Derivatives are carried as financial assets when the fair value is positive and as financial liabilities when the fair value is negative. The change in fair value is recognised in income statement in raw material and consumables used.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsAndHedgingExplanatory", "language": "en", "entity": "scheme:743700M4EIEVD61PNN55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "f0__s6__6__42": { "value": "Share capitalOutstanding ordinary shares are shown as share capital. The share capital consists of K and A series shares. The shares of both series have identical dividend rights but K series shares confer 20 votes and A series shares 1 vote at Annual General Meetings of shareholders. Expenses related to the issuance and acquisition of own equity instruments are presented as deductions from equity. If Martela Oyj buys back its own equity instruments, their cost is deducted from equity.DIVIDENDSDividends proposed by the Board of Directors are not recorded in the financial statements but the related liability is only recognised when approved by the Annual General Meeting of shareholders.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForIssuedCapitalExplanatory", "language": "en", "entity": "scheme:743700M4EIEVD61PNN55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "f0__s6__6__43": { "value": "DIVIDENDSDividends proposed by the Board of Directors are not recorded in the financial statements but the related liability is only recognised when approved by the Annual General Meeting of shareholders.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDividendsExplanatory", "language": "en", "entity": "scheme:743700M4EIEVD61PNN55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "f0__s6__6__44": { "value": "ProvisionsA provision is recognised when the Group has a legal or constructive obligation as a result of a past event, it is probable that on outflow of economic benefits will be required to settle the obligation and the amount can be estimated reliably. The amount recognised as a provision is equal to the best estimate of the expenditure required to settle the present obligation at the end of the reporting period.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForProvisionsExplanatory", "language": "en", "entity": "scheme:743700M4EIEVD61PNN55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "f0__s6__6__45": { "value": "Accounting policies requiring management\u2019s judgement and key sources of estimation uncertaintyIn preparing the financial statements it is necessary to make forward-looking estimates and assumptions which may not, in fact, turn out to be true. In addition, it is necessary to use judgement in applying accounting policies to the financial statements. The foremost estimates concern the utilisation of deferred tax assets against future taxable income and the assumptions used in the impairment testing. Other estimates requiring management\u2019s judgement mainly concerns the amount of non-marketable inventories, impairment of trade receivables, the amount of guarantee provisions and the definition of the lease period in lease contracts of indefinite duration under IFRS 16. Estimates and assumptions are based on management\u2019s current best knowledge at the end of the reporting period, reflecting historical experience and other reasonable assumptions.", "dimensions": { "concept": "ifrs-full:DisclosureOfAccountingJudgementsAndEstimatesExplanatory", "language": "en", "entity": "scheme:743700M4EIEVD61PNN55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "f0__s6__6__47": { "value": "Going concern assumptionThe financial statements for the financial year 2024 have been prepared on a going concern basis, which assumes that Martela will be able to meet its liabilities and obligations arising from its operations in the foreseeable future as part of its normal business operations. When assessing the going concern assumption, Martela\u2019s management has taken into account the uncertainties and risks related to the business environment, the company\u2019s available funding sources, and the cash flow forecasts of the various group companies\u2019 operations over the next 12 months. The company\u2019s long-term and short-term financial liabilities are mainly deferred lease commitments, which are amortised in monthly rent payments and do not involve any covenants or other maturity terms. The company\u2019s most significant lease agreements are long-term.The business environment has been extremely challenging in recent years, and as a result, the group\u2019s liquidity situation has weakened, especially during 2024. The risk related to liquidity is managed, among other things, by adjusting costs and increasing operational efficiency. In addition, the aim is to increase product margins as much as possible without reducing the total volume of turnover. In addition, the aim is to accelerate the turnover rate of working capital, for example by reducing inventory levels and increasing the invoicing frequency through advance invoicing. The company is also exploring opportunities for using new sources of financing. The company has taken structural adjustment and efficiency measures in the early part of 2024, which will be fully reflected in 2025. In addition, the new adjustment measures initiated in early 2025 aim to improve the company\u2019s cost-efficiency for the most part in 2025 and fully in 2026.The assumption of continuity of operations is related to the above-mentioned uncertainties mainly caused by the unfavourable market situation, as well as risks mainly related to liquidity, which Martela\u2019s management estimates can be controlled with the measures initiated and planned by the company. In the opinion of the company\u2019s management and the Board of Directors, the 2024 financial statements do not involve significant uncertainty regarding the going concern assumption in accordance with the IFRS standard.", "dimensions": { "concept": "ifrs-full:DescriptionOfUncertaintiesOfEntitysAbilityToContinueAsGoingConcern", "language": "en", "entity": "scheme:743700M4EIEVD61PNN55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "f0__s6__6__46": { "value": "Going concern assumptionThe financial statements for the financial year 2024 have been prepared on a going concern basis, which assumes that Martela will be able to meet its liabilities and obligations arising from its operations in the foreseeable future as part of its normal business operations. When assessing the going concern assumption, Martela\u2019s management has taken into account the uncertainties and risks related to the business environment, the company\u2019s available funding sources, and the cash flow forecasts of the various group companies\u2019 operations over the next 12 months. The company\u2019s long-term and short-term financial liabilities are mainly deferred lease commitments, which are amortised in monthly rent payments and do not involve any covenants or other maturity terms. The company\u2019s most significant lease agreements are long-term.The business environment has been extremely challenging in recent years, and as a result, the group\u2019s liquidity situation has weakened, especially during 2024. The risk related to liquidity is managed, among other things, by adjusting costs and increasing operational efficiency. In addition, the aim is to increase product margins as much as possible without reducing the total volume of turnover. In addition, the aim is to accelerate the turnover rate of working capital, for example by reducing inventory levels and increasing the invoicing frequency through advance invoicing. The company is also exploring opportunities for using new sources of financing. The company has taken structural adjustment and efficiency measures in the early part of 2024, which will be fully reflected in 2025. In addition, the new adjustment measures initiated in early 2025 aim to improve the company\u2019s cost-efficiency for the most part in 2025 and fully in 2026.The assumption of continuity of operations is related to the above-mentioned uncertainties mainly caused by the unfavourable market situation, as well as risks mainly related to liquidity, which Martela\u2019s management estimates can be controlled with the measures initiated and planned by the company. In the opinion of the company\u2019s management and the Board of Directors, the 2024 financial statements do not involve significant uncertainty regarding the going concern assumption in accordance with the IFRS standard.", "dimensions": { "concept": "ifrs-full:DisclosureOfGoingConcernExplanatory", "language": "en", "entity": "scheme:743700M4EIEVD61PNN55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "f0__s6__6__50": { "value": "Deferred tax receivablesThe prerequisites for recognition of deferred classified as short-term or long-term when the company has the right to postpone the payment of the debt for at least 12 months.Amendments to the IFRS16 standard Leases: lease liabilities in sales and leasebacks. The change requires the seller-lessee to subsequently value the lease liabilities arising from the sublease in a way that does not record any part of the profit or loss related to the seller-lessee\u2019s right of use. The new requirements do not prevent the seller-lessee from recording a profit or loss in the income statement related to the partial or complete termination of the lease agreement.Amendments to the IAS 7 standard Cash flow statement and to the IFRS 7 standard Financial instruments: Disclosures: Supplier Finance Arrangements. The amendment provides additional disclosures about supplier finance arrangements that enable investors to assess the effects on a company\u2019s debts, cash flows and exposure to liquidity risk. The amendments did not have any significant impact on the consolidated financial statements.NEW IFRS STANDARDS, AMENDMENTS TO STANDARDS AND IFRIC INTERPRETATIONS THAT HAVE NOT YET BEEN IMPLEMENTEDIAS 21 Lack of Exchangeability \u2013 The Amendments introduce requirements to assess when a currency is exchangeable into another currency and when it is not. The Amendments require an entity to estimate the spot exchange rate when it concludes that a currency is not exchangeable into another currency.The new IFRS standards, changes to standards and IFRIC interpretations listed above that come into force on or after 1 January 2025 are not estimated to have a material impact on the group.tax receivables are assessed at the end of each reporting period. Assumptions made by the managers of the Group companies on taxable income in future financial periods have been taken into account when evaluating the amount of deferred tax assets. Various internal and external factors can have a positive or negative effect on deferred tax assets. These include restructuring in the Group, amendments to tax laws (such as changes to tax rates or a change to the period of utilisation of confirmed deductible tax losses) and changes to the interpretations of tax regulations. Deferred tax assets recognised in an earlier reporting period are recognised in expenses in the consolidated statement of comprehensive income if the unit in question is not expected to accumulate sufficient taxable income to be able to utilise the temporary differences, such as confirmed tax losses, on which the deferred tax assets are based.Deferred tax assets are not recorded for taxation losses in subsidiaries.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDeferredIncomeTaxExplanatory", "language": "en", "entity": "scheme:743700M4EIEVD61PNN55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "f0__s6__6__52": { "value": "New and amended IFRS-standards and interpretations effective from 2024 onwardsIn 2024 and thereafter, the Group has adopted the following new and revised standards and interpretations issued by the IASB:Amendments to the standard IAS 1, Classification of liabilities into current and non-current. The standard change clarifies how debts should be The IFRS18 Information presented in the financial statements standard may have a significant impact on the information presented in the group\u2019s financial statements in the future.", "dimensions": { "concept": "ifrs-full:DisclosureOfChangesInAccountingPoliciesExplanatory", "language": "en", "entity": "scheme:743700M4EIEVD61PNN55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "f0__s6__6__51": { "value": "New and amended IFRS-standards and interpretations effective from 2024 onwardsIn 2024 and thereafter, the Group has adopted the following new and revised standards and interpretations issued by the IASB:Amendments to the standard IAS 1, Classification of liabilities into current and non-current. The standard change clarifies how debts should be The IFRS18 Information presented in the financial statements standard may have a significant impact on the information presented in the group\u2019s financial statements in the future.", "dimensions": { "concept": "ifrs-full:DisclosureOfChangesInAccountingPoliciesAccountingEstimatesAndErrorsExplanatory", "language": "en", "entity": "scheme:743700M4EIEVD61PNN55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "f0__s6__6__53": { "value": "Events after the end of the financial yearOn January 3, 2025, the company announced that it was planning to streamline its operations. According to the release, the challenging market conditions in the industry over the past few years have affected Martela\u2019s operating environment, weakening business volume and profitability. The ongoing economic recovery is positively impacting the industry situation, but there are still uncertainties regarding the strength of the recovery in key market areas. For the reasons mentioned above, Martela is planning to streamline and reorganise its operations in order to mitigate the negative effects caused by the market situation, adjust its cost structure to match the prevailing conditions, and bring flexibility to the uncertainty driven by demand. The planned personnel savings and other cost-saving measures are expected to result in annual cost savings of approximately EUR 1.5 to 2.0 million. According to the preliminary estimate, the planned actions could lead to a permanent reduction of around 20 job positions. The planned measures will affect Martela Group\u2019s employees in Finland, Sweden, and Norway. Additionally, there are plans to use layoff procedures to achieve the necessary temporary flexibility. Martela is in close discussions with employees and employee representatives regarding the changes. The negotiation processes and their timelines will vary by country.On January 17, 2025, the company announced preliminary information about its revenue and operating profit for 2024. The company stated that, according to preliminary unaudited financial statements, Martela Group\u2019s operating profit for the full year 2024 did not meet the level outlined in the guidance provided on December 11, 2024. According to the preliminary unaudited financial statements, both revenue and operating profit for the full year 2024 declined compared to the previous year. Revenue was approximately 87 million euros (94.4), and the operating loss was between EUR 6.3 and 6.7 million (-2.4).On January 30, 2025, the company announced that it would streamline the composition of its executive team. The goal of the change is to enhance operations, standardise the development of Martela\u2019s products and services, and strengthen the position of Martela\u2019s products in the market. As part of this, technical product development will move from the Product & Design unit to the Operations business unit, and product portfolio management will be transferred to a new Brand, Products & Services unit. These changes will lead to adjustments in the group\u2019s executive team. Eeva Ter\u00e4v\u00e4 will begin as the leader of the new Brand, Products & Services unit on February 1, 2025. Kari Leino, who previously led the Product & Design unit, will continue as the product portfolio and design director in the Brand, Products & Services unit starting from February 1, 2025.There are no other significant events to report after the period from January to December 2024, and operations have continued as planned.", "dimensions": { "concept": "ifrs-full:DisclosureOfEventsAfterReportingPeriodExplanatory", "language": "en", "entity": "scheme:743700M4EIEVD61PNN55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "f0__s6__6__56": { "value": "1. Segment reportingAs a result of harmonising and combining processes, the organisation, reporting and systems, as of 2017 the company reports consolidated figures as a single segment and in addition reports revenue by country. Revenue will be reported by the location of a customer in following countries: Finland, Sweden, Norway and Other countries. REVENUE(EUR 1000)1 Jan\u201331 Dec 2024 1 Jan\u201331 Dec 2023Revenue by areaFinland66,162 67,313Sweden8,605 9,561Norway4,8196,992Other areas7,08210,523Total86,66894,389Income from the sale of goods71,45377,653Income from the sale of services15,21516,736Total86,66894,389Revenue includes EUR 4,583 thousand (4,287) income from furniture which is based on customer agreements and is classified as rental income.(EUR 1000)31.12.202431.12.2023Assets and liabilities from contracts with customersTrade receivables16,55716,218Accrued income based on customer contracts420281Prepayments based on customer contracts8,5247,850ASSETSInformation about geographical regionsIntangible assetsTangible assetsNon-current assets (EUR 1000)31 Dec 202431 Dec 2024Finland3,337 14,455Sweden0 75Other regions0 177Total3,337 14,707Intangible assetsTangible assets Non-current assets31 Dec 202331 Dec 2023Finland4,33414,093Sweden0106Other regions0208Total4,33414,408", "dimensions": { "concept": "ifrs-full:DisclosureOfEntitysReportableSegmentsExplanatory", "language": "en", "entity": "scheme:743700M4EIEVD61PNN55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "f0__s6__6__55": { "value": "1. Segment reportingAs a result of harmonising and combining processes, the organisation, reporting and systems, as of 2017 the company reports consolidated figures as a single segment and in addition reports revenue by country. Revenue will be reported by the location of a customer in following countries: Finland, Sweden, Norway and Other countries. REVENUE(EUR 1000)1 Jan\u201331 Dec 2024 1 Jan\u201331 Dec 2023Revenue by areaFinland66,162 67,313Sweden8,605 9,561Norway4,8196,992Other areas7,08210,523Total86,66894,389Income from the sale of goods71,45377,653Income from the sale of services15,21516,736Total86,66894,389Revenue includes EUR 4,583 thousand (4,287) income from furniture which is based on customer agreements and is classified as rental income.(EUR 1000)31.12.202431.12.2023Assets and liabilities from contracts with customersTrade receivables16,55716,218Accrued income based on customer contracts420281Prepayments based on customer contracts8,5247,850ASSETSInformation about geographical regionsIntangible assetsTangible assetsNon-current assets (EUR 1000)31 Dec 202431 Dec 2024Finland3,337 14,455Sweden0 75Other regions0 177Total3,337 14,707Intangible assetsTangible assets Non-current assets31 Dec 202331 Dec 2023Finland4,33414,093Sweden0106Other regions0208Total4,33414,408", "dimensions": { "concept": "ifrs-full:DisclosureOfRevenueFromContractsWithCustomersExplanatory", "language": "en", "entity": "scheme:743700M4EIEVD61PNN55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "f0__s6__6__54": { "value": "revenue by country. Revenue will be reported by the location of a customer in following countries: Finland, Sweden, Norway and Other countries. REVENUE(EUR 1000)1 Jan\u201331 Dec 2024 1 Jan\u201331 Dec 2023Revenue by areaFinland66,162 67,313Sweden8,605 9,561Norway4,8196,992Other areas7,08210,523Total86,66894,389Income from the sale of goods71,45377,653Income from the sale of services15,21516,736Total86,66894,389", "dimensions": { "concept": "ifrs-full:DisclosureOfRevenueExplanatory", "language": "en", "entity": "scheme:743700M4EIEVD61PNN55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "f0__s6__6__58": { "value": "2. Other operating income(EUR 1000)1 Jan\u201331 Dec 2024 1 Jan\u201331 Dec 2023Gains on sale of tangible assets 240Rental income51 58Public subsidies3 6Other income from operations7085Total148149", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherOperatingIncomeExplanatory", "language": "en", "entity": "scheme:743700M4EIEVD61PNN55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "f0__s6__6__57-1": { "value": "2. Other operating income(EUR 1000)1 Jan\u201331 Dec 2024 1 Jan\u201331 Dec 2023Gains on sale of tangible assets 240Rental income51 58Public subsidies3 6Other income from operations7085Total1481494. Other operating expensesOther operating expenses are reported by type of expense.(EUR 1000)1 Jan\u201331 Dec 2024 1 Jan\u201331 Dec 2023Freight -1,308-1,237Travel-499 -611Administration-1,725 -2,041IT-3,585-3,217Marketing-716-640Electricity and heating -479 -330Unrealised loss of electricity derivatives-58-52Other real estate-923-1,089Royalties-587-646Other-2,334-3,002Total-12,216-12,865Auditors' fees1 Jan\u201331 Dec 20241 Jan\u201331 Dec 2023Auditing-184-173Other services-19-18Total-203-191Auditors\u2019 fees are included in administration expenses.", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherOperatingIncomeExpenseExplanatory", "language": "en", "entity": "scheme:743700M4EIEVD61PNN55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "f0__s6__6__59-1": { "value": "3. Employee benefits expenses(EUR 1000)1 Jan\u201331 Dec 2024 1 Jan\u201331 Dec 2023Salaries and wages -18,326-18,505Pension expenses, defined contribution plans-2,827 -2,876Pension expenses, defined benefit plans-74 -70Expenses of matching share plan0-275Other salary-related expenses-1,073-1,270Personnel expenses in the income statement-22,300-22,995Other fringe benefits-287-499Total-22,586-23,494A total of EUR 400 thousand for 2024 and EUR 769 thousand from 2023 were recognised in the result from the incentives and salary-related expenses associated with the incentive scheme. Salaries and fees and share-based payments are presented in more detail under note 24 Related-party transactions. More information about share-based incentive programme is in note 17.Personnel20242023Personnel on average, workers182194Personnel on average, officials190209Personnel on average, total372403Personnel at year-end360386Personnel on average in Finland302326Personnel on average in Sweden2529Personnel on average in Norway1415Personnel on average in Poland3133Total37240319. Pension obligationsMartela\u2019s defined benefit plans concern its operations in Finland. The arrangements are made through insurance companies. The plans are partly funded. On the balance sheet, the commitment to those insured is presented as a pension liability, and the part of this liability that falls under the responsibility of insurance company is presented as an asset. As the funds belong to the insurance companies, they cannot be itemised in Martela\u2019s consolidated financial statements. In insurance arrangements, the amount of funds is calculated using the same discount rate used for the determination of pension liabilities. This means that a change in discount rate does not pose a significant risk. In addition, an increase in life expectancy does not pose a significant risk for Martela, as insurance companies will bear most of the impact of this. The pensions are fixed to 2017 salary levels and accounted for accordingly. Changes in defined benefit liabilityPresent value of the defined benefit liability Fair value of the funds included in the plan Net debt of the defined benefit liability(EUR 1000)2024 2023 2024 2023 2024 20231 Jan 1,081 1,380-1,067 -1,364 13 16Recognised in profit or lossService cost in the period 30 4029 40Past service cost 0 00 0Interest expense or income 4151-41 -52 0 -1Settlements -24-35724 35747-266-17 305 29 39Recognised in other comprehensive incomeItems resulting from remeasurement:Gains (-) or losses (+) resulting from changes in demo-graphical assumptions 000 0Actuarial gain (-) and losses (+) resulting from changes in 48-848 -8financial assumptionsExperience based profits (-) or losses (+) 42-1542 -15Return on the funds included in the plan, excluding items in -76 53 -76 53interest expenses or income (+/-)90-23-76 53 15 30Other itemsEmployer's payments (+) 00-65 -71 -65 -71Benefits paid 0-100 10 0 00-10-65 -61 -65 -7131 Dec 1,2181,081-1,225 -1,067 -8 13The Group anticipates that it will pay a total of EUR 40 thousand to defined benefit pension plans in the financial period of 2025. Sensitivity analysisThe following table illustrates the effects of changes in the most significant actuarial assumptions on the funds related to the defined benefit pension liability and plans. Defined benefit liability Fair value of the funds included in the planEffect of a change in the assumption employed The assumption is The assumption is growinggrowingDiscount rate (0.5% change) -6,0%-5,7%Increase in salaries (0.5% change) N/AN/AMorality rate (a change of 5% points) -0,9%-0,9%The weighted average of the duration of the plans is 13.8 years.", "dimensions": { "concept": "ifrs-full:DisclosureOfEmployeeBenefitsExplanatory", "language": "en", "entity": "scheme:743700M4EIEVD61PNN55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "f0__s6__6__60-1": { "value": "Employee benefits expenses(EUR 1000)1 Jan\u201331 Dec 2024 1 Jan\u201331 Dec 2023Salaries and wages -18,326-18,505Pension expenses, defined contribution plans-2,827 -2,876Pension expenses, defined benefit plans-74 -70Expenses of matching share plan0-275Other salary-related expenses-1,073-1,270Personnel expenses in the income statement-22,300-22,995Other fringe benefits-287-499Total-22,586-23,494A total of EUR 400 thousand for 2024 and EUR 769 thousand from 2023 were recognised in the result from the incentives and salary-related expenses associated with the incentive scheme. Salaries and fees and share-based payments are presented in more detail under note 24 Related-party transactions.4. Other operating expensesOther operating expenses are reported by type of expense.(EUR 1000)1 Jan\u201331 Dec 2024 1 Jan\u201331 Dec 2023Freight -1,308-1,237Travel-499 -611Administration-1,725 -2,041IT-3,585-3,217Marketing-716-640Electricity and heating -479 -330Unrealised loss of electricity derivatives-58-52Other real estate-923-1,089Royalties-587-646Other-2,334-3,002Total-12,216-12,865Auditors' fees1 Jan\u201331 Dec 20241 Jan\u201331 Dec 2023Auditing-184-173Other services-19-18Total-203-191Auditors\u2019 fees are included in administration expenses.5. Depreciation and impairment(EUR 1000)1 Jan\u201331 Dec 2024 1 Jan\u201331 Dec 2023DepreciationIntangible assets-850 -1,267Tangible assetsBuildings and structures-46 -170Machinery and equipment-753-359Depreciation, total -1,649 -1,796Depreciation of right-of-use assets according to IFRS 16Buildings and structures-1,843-1,795Machinery and equipment-3,621-3,182Depreciation, total-5,464-4,9776. Research and development expensesThe income statement includes research and development expenses of EUR -1,329 thousand (EUR -1,573 thousand 2023).", "dimensions": { "concept": "ifrs-full:DisclosureOfExpensesExplanatory", "language": "en", "entity": "scheme:743700M4EIEVD61PNN55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "f0__s6__6__61": { "value": "(EUR 1000)1 Jan\u201331 Dec 2024 1 Jan\u201331 Dec 2023Salaries and wages -18,326-18,505Pension expenses, defined contribution plans-2,827 -2,876Pension expenses, defined benefit plans-74 -70Expenses of matching share plan0-275Other salary-related expenses-1,073-1,270Personnel expenses in the income statement-22,300-22,995Other fringe benefits-287-499Total-22,586-23,494A total of EUR 400 thousand for 2024 and EUR 769 thousand from 2023 were recognised in the result from the incentives and salary-related expenses associated with the incentive scheme. Salaries and fees and share-based payments are presented in more detail under note 24 Related-party transactions. More information about share-based incentive programme is in note 17.Personnel20242023Personnel on average, workers182194Personnel on average, officials190209Personnel on average, total372403Personnel at year-end360386Personnel on average in Finland302326Personnel on average in Sweden2529Personnel on average in Norway1415Personnel on average in Poland3133Total372403", "dimensions": { "concept": "ifrs-full:DisclosureOfInformationAboutEmployeesExplanatory", "language": "en", "entity": "scheme:743700M4EIEVD61PNN55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "f0__s6__6__64": { "value": "4. Other operating expensesOther operating expenses are reported by type of expense.(EUR 1000)1 Jan\u201331 Dec 2024 1 Jan\u201331 Dec 2023Freight -1,308-1,237Travel-499 -611Administration-1,725 -2,041IT-3,585-3,217Marketing-716-640Electricity and heating -479 -330Unrealised loss of electricity derivatives-58-52Other real estate-923-1,089Royalties-587-646Other-2,334-3,002Total-12,216-12,865Auditors' fees1 Jan\u201331 Dec 20241 Jan\u201331 Dec 2023Auditing-184-173Other services-19-18Total-203-191Auditors\u2019 fees are included in administration expenses.", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherOperatingExpenseExplanatory", "language": "en", "entity": "scheme:743700M4EIEVD61PNN55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "f0__s6__6__62": { "value": "Auditors' fees1 Jan\u201331 Dec 20241 Jan\u201331 Dec 2023Auditing-184-173Other services-19-18Total-203-191Auditors\u2019 fees are included in administration expenses.", "dimensions": { "concept": "ifrs-full:DisclosureOfAuditorsRemunerationExplanatory", "language": "en", "entity": "scheme:743700M4EIEVD61PNN55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "f0__s6__6__67": { "value": "5. Depreciation and impairment(EUR 1000)1 Jan\u201331 Dec 2024 1 Jan\u201331 Dec 2023DepreciationIntangible assets-850 -1,267Tangible assetsBuildings and structures-46 -170Machinery and equipment-753-359Depreciation, total -1,649 -1,796Depreciation of right-of-use assets according to IFRS 16Buildings and structures-1,843-1,795Machinery and equipment-3,621-3,182Depreciation, total-5,464-4,977", "dimensions": { "concept": "ifrs-full:DisclosureOfDepreciationAndAmortisationExpenseExplanatory", "language": "en", "entity": "scheme:743700M4EIEVD61PNN55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "f0__s6__6__68": { "value": "6. Research and development expensesThe income statement includes research and development expenses of EUR -1,329 thousand (EUR -1,573 thousand 2023).", "dimensions": { "concept": "ifrs-full:DisclosureOfResearchAndDevelopmentExpenseExplanatory", "language": "en", "entity": "scheme:743700M4EIEVD61PNN55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "f0__s6__6__76": { "value": "7. Financial income and expenses(EUR 1000)1 Jan\u201331 Dec 2024 1 Jan\u201331 Dec 2023Financial incomeInterest income on loans and other receivables 3429Foreign exchange gain on loans and other receivables127 615Other financial income1 1Total163645Financial expensesInterest expenses from financial liabilities measured at amortised cost-12-25Foreign exchange losses on loans and other receivables-331-533Interest expenses of lease liabilities according to IFRS 16-673-694Other financial expenses-823-304Total-1,839-1,557Financial income and expenses, total-1,677-912Total exchange rate differences affecting profit and loss are as follows:Exchange rate differences, sales (included in revenue)-129-39Exchange rate differences, purchases (included in adj. of purchases)43-81Exchange rate differences, financial items-20481Exchange rate differences, total-289-38", "dimensions": { "concept": "ifrs-full:DisclosureOfBorrowingCostsExplanatory", "language": "en", "entity": "scheme:743700M4EIEVD61PNN55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "f0__s6__6__71": { "value": "7. Financial income and expenses(EUR 1000)1 Jan\u201331 Dec 2024 1 Jan\u201331 Dec 2023Financial incomeInterest income on loans and other receivables 3429Foreign exchange gain on loans and other receivables127 615Other financial income1 1Total163645Financial expensesInterest expenses from financial liabilities measured at amortised cost-12-25Foreign exchange losses on loans and other receivables-331-533Interest expenses of lease liabilities according to IFRS 16-673-694Other financial expenses-823-304Total-1,839-1,557Financial income and expenses, total-1,677-912Total exchange rate differences affecting profit and loss are as follows:Exchange rate differences, sales (included in revenue)-129-39Exchange rate differences, purchases (included in adj. of purchases)43-81Exchange rate differences, financial items-20481Exchange rate differences, total-289-38", "dimensions": { "concept": "ifrs-full:DisclosureOfInterestIncomeExpenseExplanatory", "language": "en", "entity": "scheme:743700M4EIEVD61PNN55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "f0__s6__6__70": { "value": "7. Financial income and expenses(EUR 1000)1 Jan\u201331 Dec 2024 1 Jan\u201331 Dec 2023Financial incomeInterest income on loans and other receivables 3429Foreign exchange gain on loans and other receivables127 615Other financial income1 1Total163645Financial expensesInterest expenses from financial liabilities measured at amortised cost-12-25Foreign exchange losses on loans and other receivables-331-533Interest expenses of lease liabilities according to IFRS 16-673-694Other financial expenses-823-304Total-1,839-1,557Financial income and expenses, total-1,677-912Total exchange rate differences affecting profit and loss are as follows:Exchange rate differences, sales (included in revenue)-129-39Exchange rate differences, purchases (included in adj. of purchases)43-81Exchange rate differences, financial items-20481Exchange rate differences, total-289-38", "dimensions": { "concept": "ifrs-full:DisclosureOfFinanceIncomeExpenseExplanatory", "language": "en", "entity": "scheme:743700M4EIEVD61PNN55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "f0__s6__6__75": { "value": "Financial income and expenses(EUR 1000)1 Jan\u201331 Dec 2024 1 Jan\u201331 Dec 2023Financial incomeInterest income on loans and other receivables 3429Foreign exchange gain on loans and other receivables127 615Other financial income1 1Total163645", "dimensions": { "concept": "ifrs-full:DisclosureOfFinanceIncomeExplanatory", "language": "en", "entity": "scheme:743700M4EIEVD61PNN55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "f0__s6__6__73": { "value": "Financial income and expenses(EUR 1000)1 Jan\u201331 Dec 2024 1 Jan\u201331 Dec 2023Financial incomeInterest income on loans and other receivables 3429Foreign exchange gain on loans and other receivables127 615Other financial income1 1Total163645", "dimensions": { "concept": "ifrs-full:DisclosureOfInterestIncomeExplanatory", "language": "en", "entity": "scheme:743700M4EIEVD61PNN55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "f0__s6__6__74": { "value": "Financial expensesInterest expenses from financial liabilities measured at amortised cost-12-25Foreign exchange losses on loans and other receivables-331-533Interest expenses of lease liabilities according to IFRS 16-673-694Other financial expenses-823-304Total-1,839-1,557Financial income and expenses, total-1,677-912", "dimensions": { "concept": "ifrs-full:DisclosureOfFinanceCostExplanatory", "language": "en", "entity": "scheme:743700M4EIEVD61PNN55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "f0__s6__6__72": { "value": "Financial expensesInterest expenses from financial liabilities measured at amortised cost-12-25Foreign exchange losses on loans and other receivables-331-533Interest expenses of lease liabilities according to IFRS 16-673-694Other financial expenses-823-304Total-1,839-1,557Financial income and expenses, total-1,677-912", "dimensions": { "concept": "ifrs-full:DisclosureOfInterestExpenseExplanatory", "language": "en", "entity": "scheme:743700M4EIEVD61PNN55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "f0__s6__6__77": { "value": "8. Income taxes(EUR 1000)1 Jan\u201331 Dec 2024 1 Jan\u201331 Dec 2023Income taxes, financial year -112-175Taxes for previous years0 -86Change in deferred tax liabilities and assets-370 39Total-482-222Reconciliation between the income statement\u2019s tax expense and the income tax expense calculated using the Martela Group\u2019s domestic corporation tax rate 20.0%. 1 Jan\u201331 Dec 2024 1 Jan\u201331 Dec 2023Profit before taxes -8,210 -3,292Taxes calculated using the domestic corporation tax rate-1,642-658Different tax rates of subsidiaries abroad-22-17Taxes for previous years086Tax-exempt income-836Non-deductible expenses7258Unbooked deferred tax assets on losses in taxation2,023838Other items135-90Income taxes for the year in the p/l (+ = expense, - = profit)482222", "dimensions": { "concept": "ifrs-full:DisclosureOfIncomeTaxExplanatory", "language": "en", "entity": "scheme:743700M4EIEVD61PNN55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "f0__s6__6__78-1": { "value": "9. Earnings per shareThe basic earnings per share is calculated dividing the profit attributable to equity holders of the parent by the weighted average number of shares outstanding during the year.(EUR 1000)1 Jan\u201331 Dec 2024 1 Jan\u201331 Dec 2023Profit attributable to equity holders of the parent -8,692-3,514Weighted average number of shares (1,000)4,638 4,572Basic earnings per share (EUR/share)-1.87 -0.77The company has no diluting instruments December 31, 2024 or December 31, 2023.For more information on weighted average number of shares see note 16.26. Key share-related figures2024 2023 2022 2021 2020Earnings per share EUR-1.87 -0.77 0.57 -0.53 -1.16Earnings per share (diluted) EUR-1.87 -0.77 0.57 -0.53 -1.16Share par value EUR1.51 1.53 1.55 1.55 1.68Dividend EUR0.00*) 0.00 0.10 0.000.00Dividend/earnings per share %0.00*) 0.00 17.69 0.000.00Effective dividend yield %0.00 0.00 0.04 0.000.00Equity per share EUR0.25 2.09 3.07 2.392.81Price of A share 31 Dec EUR 0.85 1.28 2.45 2.29 3.09Share issue-adjusted number of shares tpcs4,639.21 4,573.50 4,519.61 4,508.044,155.60Average share-issue adjusted number of shares tpcs4,639.21 4,573.50 4,519.61 4,508.044,155.60Price/earnings ratio-0.45 -1.67 4.34 -4.32-2.66Market value of shares **) meur3.94 5.85 11.07 10.2912.80*) Proposal by the Board of Directors for year 2024**) Price of A shares used as value of K sharesFormulas to key figuresEarnings / share =Profit attributable to equity holders of the parentAverage share issue-adjusted number of sharesPrice /earnings multiple (P/E) =Share issue-adjusted share price at year-endEarnings / shareEquity / share, EUR =Equity attributable to the equity holders of the parentShare issue-adjusted number of shares at year-endDividend / share, EUR =Dividend for the financial yearShare issue-adjusted number of shares at year-endDividend / earnings, % =Dividend / share x 100Earnings / shareEffective dividend yield, % =Share issue-adjusted dividend / share x 100Share issue-adjusted share price at the year-endMarket value of shares, EUR =Total number of shares at year end x share price on the balance sheet dateReturn on equity, % =Profit/loss for the financial year x 100Equity (average during the year)Return on investment, % =(Pre-tax profit/loss + interest expenses + other financial items) x 100Balance sheet total - Non-interest-bearing liabilities (average during the year)Equity ratio, % =Equity x 100Balance sheet total - advances receivedGearing, % =Interest-bearing liabilities - cash, cash equivalents and liquid asset securities x 100EquityPersonnel on average =Month-end average number of personnel in active employmentInterest-bearing net debt =Interest-bearing debt - cash and other liquid financial assets", "dimensions": { "concept": "ifrs-full:DisclosureOfEarningsPerShareExplanatory", "language": "en", "entity": "scheme:743700M4EIEVD61PNN55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "f0__s6__6__80": { "value": "10. Intangible assets(EUR 1000)1 Jan\u201331 Dec 2024 1 Jan\u201331 Dec 2023Intangible assets Goodwill Work in progress Total Intangible assets Goodwill Work in progress TotalAcquisition cost 1 Jan 16,405 8831,121 18,409 15,479 883 724 17,086Increases 869212 1,081 926 2,166 3,092Decreases-1,229 -1,229 -1,769 -1,769Acquisition cost 31 Dec 17,274 883104 18,261 16,405 883 1,121 18,409Accumulated depreciation 1 Jan -14,07500 -14,075 -12,808 0 0 -12,808Depreciation for the year -850 -850 -1,267 -1,267Accumulated depreciation 31 dec -14,92500 -14,925 -14,075 0 0 -14,075Carrying amount 1 Jan 2,3308831,121 4,334 2,671 883 724 4,278Carrying amount 31 Dec 2,349883104 3,337 2,330 883 1,121 4,334Goodwill The Group\u2019s Goodwill EUR 883 thousand (EUR 883 thousand 2023) relates to the Grundell acquisition Martela made December 31, 2011. The expected future cash flows will be generated through more extensive service solutions encompassing also products and the already implemented profit improving actions. The revenue growth is also supported by the renewed strategy of Martela that increases the emphasis on service within the Group. In impairment testing the average growth is estimated to be 1.5% and EBIT 9.9%. The use of testing model requires making estimates and assumptions concerning market growth and general interest rate level. The used post-tax discount rate is 10.0% (10.0%) which equals the weighted average cost of capital. The cash flows after the five-year period have been forecasted by estimating the future growth rate of revenue to be 1.5%. Based on the impairment test there is no need to recognise an impairment loss. Impairment testingGoodwill is tested annually or more frequently if there are indications that the amount might be impaired. In assessing whether goodwill has been impaired, the carrying value of the cash generating unit Muuttopalvelu Grundell Oy has been compared to the recoverable amount of the cash carrying unit. The recoverable amount of the goodwill is determined based on the value in use calculations. The value in use is calculated based on the discounted forecast cash flows. The cash flow forecasts rely on the plans approved by the management concerning profitability and the growth rate of revenue. The plans cover a five-year period taking into account the recent development of the business. Sensitivity analysis of impairment testing The carrying value of the cash generating unit is EUR 15.7 million higher than the book value according to the performed impairment test. No predictible changes in any assumpions, have any significant impact on the result of the goodwill testing.", "dimensions": { "concept": "ifrs-full:DisclosureOfIntangibleAssetsExplanatory", "language": "en", "entity": "scheme:743700M4EIEVD61PNN55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "f0__s6__6__79": { "value": "10. Intangible assets(EUR 1000)1 Jan\u201331 Dec 2024 1 Jan\u201331 Dec 2023Intangible assets Goodwill Work in progress Total Intangible assets Goodwill Work in progress TotalAcquisition cost 1 Jan 16,405 8831,121 18,409 15,479 883 724 17,086Increases 869212 1,081 926 2,166 3,092Decreases-1,229 -1,229 -1,769 -1,769Acquisition cost 31 Dec 17,274 883104 18,261 16,405 883 1,121 18,409Accumulated depreciation 1 Jan -14,07500 -14,075 -12,808 0 0 -12,808Depreciation for the year -850 -850 -1,267 -1,267Accumulated depreciation 31 dec -14,92500 -14,925 -14,075 0 0 -14,075Carrying amount 1 Jan 2,3308831,121 4,334 2,671 883 724 4,278Carrying amount 31 Dec 2,349883104 3,337 2,330 883 1,121 4,334Goodwill The Group\u2019s Goodwill EUR 883 thousand (EUR 883 thousand 2023) relates to the Grundell acquisition Martela made December 31, 2011. The expected future cash flows will be generated through more extensive service solutions encompassing also products and the already implemented profit improving actions. The revenue growth is also supported by the renewed strategy of Martela that increases the emphasis on service within the Group. In impairment testing the average growth is estimated to be 1.5% and EBIT 9.9%. The use of testing model requires making estimates and assumptions concerning market growth and general interest rate level. The used post-tax discount rate is 10.0% (10.0%) which equals the weighted average cost of capital. The cash flows after the five-year period have been forecasted by estimating the future growth rate of revenue to be 1.5%. Based on the impairment test there is no need to recognise an impairment loss. Impairment testingGoodwill is tested annually or more frequently if there are indications that the amount might be impaired. In assessing whether goodwill has been impaired, the carrying value of the cash generating unit Muuttopalvelu Grundell Oy has been compared to the recoverable amount of the cash carrying unit. The recoverable amount of the goodwill is determined based on the value in use calculations. The value in use is calculated based on the discounted forecast cash flows. The cash flow forecasts rely on the plans approved by the management concerning profitability and the growth rate of revenue. The plans cover a five-year period taking into account the recent development of the business. Sensitivity analysis of impairment testing The carrying value of the cash generating unit is EUR 15.7 million higher than the book value according to the performed impairment test. No predictible changes in any assumpions, have any significant impact on the result of the goodwill testing.", "dimensions": { "concept": "ifrs-full:DisclosureOfIntangibleAssetsAndGoodwillExplanatory", "language": "en", "entity": "scheme:743700M4EIEVD61PNN55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "f0__s6__6__81": { "value": "Goodwill The Group\u2019s Goodwill EUR 883 thousand (EUR 883 thousand 2023) relates to the Grundell acquisition Martela made December 31, 2011. The expected future cash flows will be generated through more extensive service solutions encompassing also products and the already implemented profit improving actions. The revenue growth is also supported by the renewed strategy of Martela that increases the emphasis on service within the Group. In impairment testing the average growth is estimated to be 1.5% and EBIT 9.9%. The use of testing model requires making estimates and assumptions concerning market growth and general interest rate level. The used post-tax discount rate is 10.0% (10.0%) which equals the weighted average cost of capital. The cash flows after the five-year period have been forecasted by estimating the future growth rate of revenue to be 1.5%. Based on the impairment test there is no need to recognise an impairment loss. Impairment testingGoodwill is tested annually or more frequently if there are indications that the amount might be impaired. In assessing whether goodwill has been impaired, the carrying value of the cash generating unit Muuttopalvelu Grundell Oy has been compared to the recoverable amount of the cash carrying unit. The recoverable amount of the goodwill is determined based on the value in use calculations. The value in use is calculated based on the discounted forecast cash flows. The cash flow forecasts rely on the plans approved by the management concerning profitability and the growth rate of revenue. The plans cover a five-year period taking into account the recent development of the business. Sensitivity analysis of impairment testing The carrying value of the cash generating unit is EUR 15.7 million higher than the book value according to the performed impairment test. No predictible changes in any assumpions, have any significant impact on the result of the goodwill testing.", "dimensions": { "concept": "ifrs-full:DisclosureOfGoodwillExplanatory", "language": "en", "entity": "scheme:743700M4EIEVD61PNN55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "f0__s6__6__82": { "value": "impairment testing the average growth is estimated to be 1.5% and EBIT 9.9%. The use of testing model requires making estimates and assumptions concerning market growth and general interest rate level. The used post-tax discount rate is 10.0% (10.0%) which equals the weighted average cost of capital. The cash flows after the five-year period have been forecasted by estimating the future growth rate of revenue to be 1.5%. Based on the impairment test there is no need to recognise an impairment loss. Impairment testingGoodwill is tested annually or more frequently if there are indications that the amount might be impaired. In assessing whether goodwill has been impaired, the carrying value of the cash generating unit Muuttopalvelu Grundell Oy has been compared to the recoverable amount of the cash carrying unit. The recoverable amount of the goodwill is determined based on the value in use calculations. The value in use is calculated based on the discounted forecast cash flows. The cash flow forecasts rely on the plans approved by the management concerning profitability and the growth rate of revenue. The plans cover a five-year period taking into account the recent development of the business. Sensitivity analysis of impairment testing The carrying value of the cash generating unit is EUR 15.7 million higher than the book value according to the performed impairment test. No predictible changes in any assumpions, have any significant impact on the result of the goodwill testing.", "dimensions": { "concept": "ifrs-full:DisclosureOfImpairmentOfAssetsExplanatory", "language": "en", "entity": "scheme:743700M4EIEVD61PNN55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "f0__s6__6__83": { "value": "11. Tangible assets(EUR 1000)Machinery and Machinery and Buildings Machinery and equipment equipment Other Work in 1 Jan\u201331 Dec 2024Land areas BuildingsIFRS 16equipmentIFRS 16IFRS 16 WAAS*tangible assetsprogress TotalAcquisition cost 1 jan 4 23,62013,636 34,661 4,124 10,383 23 0 86,452Increases 01,626 115 1,652 3,582 241 7,216Decreases 0 -82-690 0 -780 -848 -159 -2,558Exchange rate differences-70 -34 -104Acquisition cost 31 Dec 4 23,53814,502 34,776 4,963 13,118 23 82 91,006Accumulated depreciation 1 Jan 0-23,173-9,961 -33,224 -2,601 -3,083 0 0 -72,043Accumulated depreciation, decreases 0 690 0 758 460 0 0 1,908Depreciation for the year 0-46-1,843 -753 -1,020 -2,601 0 0 -6,264Exchange rate differences 59 41 0 0 100Accumulated depreciation 31 Dec 0-23,219-11,054 -33,977 -2,823 -5,225 0 0 -76,299Carrying amount 1 Jan 44483,676 1,437 1,523 7,298 23 0 14,408Carrying amount 31 Dec 43203,448 799 2,140 7,891 23 82 14,707*WAAS, Workplace as a Service-business area assets, that are classified as operative leasing contracts according to IFRS 16 and in which company according to the standard operates as lessor. (EUR 1000)Machinery and Machinery and Machinery and equipment equipment Other Work in 1.1.2023\u201331.12.2023Land areas Buildings Buildings IFRS 16equipmentIFRS 16IFRS 16 WAAS*tangible assetsprogress TotalAcquisition cost 1 Jan 4 23,61612,407 34,075 2,691 7,839 23 1 80,656Increases 131,272 586 1,536 3,918 7,325Decreases 0 -90 -102 Exchange rate differences-43 -43Acquisition cost 31 Dec 4 23,62013,636 34,661 4,124 10,383 23 0 86,452Accumulated depreciation 1 Jan 0-23,003-8,214 -32,865 -1,853 -1,407 0 0 -67,343Accumulated depreciation, decreases 0 0 93 672 0 0 765Depreciation for the year 0-170-1,795 -359 -834 -2,348 0 0 -5,506Exchange rate differences 48 -8 0 0 40Accumulated depreciation 31 Dec 0-23,173-9,961 -33,224 -2,601 -3,083 0 0 -72,044Carrying amount 1 Jan 46144,193 1,210 838 6,430 23 0 13,312Carrying amount 31 Dec 44483,676 1,437 1,523 7,298 23 0 14,408*WAAS, Workplace as a Service-business area assets, that are classified as operative leasing contracts according to IFRS 16 and in which company according to the standard operates as lessor.", "dimensions": { "concept": "ifrs-full:DisclosureOfPropertyPlantAndEquipmentExplanatory", "language": "en", "entity": "scheme:743700M4EIEVD61PNN55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "f0__s6__6__89": { "value": "12. Book values of financial assets and liabilities by groupFinancial assets Financial assets Financial liabilities measured atBook values measured at measured at fair value through of balance Hierarchy (EUR 1000)amortised costsamortised costprofit or losssheet items Fair valuelevel Note2024 balance sheet itemsNon-current financial assetsLoan receivables 567567 567 2Current financial assetsTrade and other receivables 16,55716,557 16,557 2 15Book value by group 17,123 17,123 17,123Non-current financial liabilitiesInterest-bearing liabilities13,44613,446 13,446 2 18Derivatives designated as hedging 58 58 58 1instrumentsCurrent financial liabilitiesInterest-bearing liabilities7,2477,247 7,247 2 18Derivatives designated as hedging instruments 1Trade payables and other liabilities17,42617,426 17,426 2 21Book value by group38,11858 38,177 38,177Financial assets Financial assets Financial liabilities measured at Book values measured at measured at fair value through of balance Hierarchy (EUR 1000)amortised costsamortised costprofit or losssheet items Fair valuelevel Note2023 balance sheet itemsNon-current financial assetsLoan receivables 532532 532 2Current financial assetsTrade and other receivables 16,21816,218 16,218 2 15Book value by group 16,750 16,750 16,750Non-current financial liabilitiesInterest-bearing liabilities13,77613,776 13,776 2 18Derivatives designated as hedging 36 36 36 1instrumentsCurrent financial liabilitiesInterest-bearing liabilities4,2724,272 4,272 2 18Derivatives designated as hedging 15 15 15 1instrumentsTrade payables and other liabilities12,94712,947 12,947 2 21Book value by group30,99552 31,046 31,046Derivatives designated as hedging instruments have been bought in order to manage the risk concerning the electricity price. Other financial assets include investments in unlisted equities. The have been measured at acquisition cost as fair value cannot be assessed reliably. The book values of trade receivables and receivables other than those based on derivatives are estimated to essentially correspond to their fair values due to the short maturity of the receivables. The book values of debts are estimated to correspond to their fair values. Interest rate level has no material effect. The book values of trade and other non-interest-bearing liabilities are also estimated to correspond to their fair values. Discounting has no material effect. Fair values of each financial asset and liability group are presented in more detail under the note indicated in the table above. Assets and liabilities recognised at fair value in the financial statements are categorised into three levels in the fair value hierarchy based on the inputs used in the valuation technique to determine their fair value. The three levels are: Level 1. Quoted prices(unadjusted) in active markets for identical assets or liabilities. Level 2. Inputs other than quoted prices included within Level 1 that are observable for the asset or liability either directly or indirectly e.g. discounted cash flows or valuation models. Level 3. Inputs for the asset or liability that are not based on observable market data and the fair value determination is widely based on management\u2019s judgement and the use of that in commonly approved valuation models.", "dimensions": { "concept": "ifrs-full:DisclosureOfFairValueMeasurementExplanatory", "language": "en", "entity": "scheme:743700M4EIEVD61PNN55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "f0__s6__6__88": { "value": "12. Book values of financial assets and liabilities by groupFinancial assets Financial assets Financial liabilities measured atBook values measured at measured at fair value through of balance Hierarchy (EUR 1000)amortised costsamortised costprofit or losssheet items Fair valuelevel Note2024 balance sheet itemsNon-current financial assetsLoan receivables 567567 567 2Current financial assetsTrade and other receivables 16,55716,557 16,557 2 15Book value by group 17,123 17,123 17,123Non-current financial liabilitiesInterest-bearing liabilities13,44613,446 13,446 2 18Derivatives designated as hedging 58 58 58 1instrumentsCurrent financial liabilitiesInterest-bearing liabilities7,2477,247 7,247 2 18Derivatives designated as hedging instruments 1Trade payables and other liabilities17,42617,426 17,426 2 21Book value by group38,11858 38,177 38,177Financial assets Financial assets Financial liabilities measured at Book values measured at measured at fair value through of balance Hierarchy (EUR 1000)amortised costsamortised costprofit or losssheet items Fair valuelevel Note2023 balance sheet itemsNon-current financial assetsLoan receivables 532532 532 2Current financial assetsTrade and other receivables 16,21816,218 16,218 2 15Book value by group 16,750 16,750 16,750Non-current financial liabilitiesInterest-bearing liabilities13,77613,776 13,776 2 18Derivatives designated as hedging 36 36 36 1instrumentsCurrent financial liabilitiesInterest-bearing liabilities4,2724,272 4,272 2 18Derivatives designated as hedging 15 15 15 1instrumentsTrade payables and other liabilities12,94712,947 12,947 2 21Book value by group30,99552 31,046 31,046Derivatives designated as hedging instruments have been bought in order to manage the risk concerning the electricity price. Other financial assets include investments in unlisted equities. The have been measured at acquisition cost as fair value cannot be assessed reliably. The book values of trade receivables and receivables other than those based on derivatives are estimated to essentially correspond to their fair values due to the short maturity of the receivables. The book values of debts are estimated to correspond to their fair values. Interest rate level has no material effect. The book values of trade and other non-interest-bearing liabilities are also estimated to correspond to their fair values. Discounting has no material effect. Fair values of each financial asset and liability group are presented in more detail under the note indicated in the table above. Assets and liabilities recognised at fair value in the financial statements are categorised into three levels in the fair value hierarchy based on the inputs used in the valuation technique to determine their fair value. The three levels are: Level 1. Quoted prices(unadjusted) in active markets for identical assets or liabilities. Level 2. Inputs other than quoted prices included within Level 1 that are observable for the asset or liability either directly or indirectly e.g. discounted cash flows or valuation models. Level 3. Inputs for the asset or liability that are not based on observable market data and the fair value determination is widely based on management\u2019s judgement and the use of that in commonly approved valuation models.", "dimensions": { "concept": "ifrs-full:DisclosureOfFairValueOfFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:743700M4EIEVD61PNN55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "f0__s6__6__87": { "value": "12. Book values of financial assets and liabilities by groupFinancial assets Financial assets Financial liabilities measured atBook values measured at measured at fair value through of balance Hierarchy (EUR 1000)amortised costsamortised costprofit or losssheet items Fair valuelevel Note2024 balance sheet itemsNon-current financial assetsLoan receivables 567567 567 2Current financial assetsTrade and other receivables 16,55716,557 16,557 2 15Book value by group 17,123 17,123 17,123Non-current financial liabilitiesInterest-bearing liabilities13,44613,446 13,446 2 18Derivatives designated as hedging 58 58 58 1instrumentsCurrent financial liabilitiesInterest-bearing liabilities7,2477,247 7,247 2 18Derivatives designated as hedging instruments 1Trade payables and other liabilities17,42617,426 17,426 2 21Book value by group38,11858 38,177 38,177Financial assets Financial assets Financial liabilities measured at Book values measured at measured at fair value through of balance Hierarchy (EUR 1000)amortised costsamortised costprofit or losssheet items Fair valuelevel Note2023 balance sheet itemsNon-current financial assetsLoan receivables 532532 532 2Current financial assetsTrade and other receivables 16,21816,218 16,218 2 15Book value by group 16,750 16,750 16,750Non-current financial liabilitiesInterest-bearing liabilities13,77613,776 13,776 2 18Derivatives designated as hedging 36 36 36 1instrumentsCurrent financial liabilitiesInterest-bearing liabilities4,2724,272 4,272 2 18Derivatives designated as hedging 15 15 15 1instrumentsTrade payables and other liabilities12,94712,947 12,947 2 21Book value by group30,99552 31,046 31,046Derivatives designated as hedging instruments have been bought in order to manage the risk concerning the electricity price. Other financial assets include investments in unlisted equities. The have been measured at acquisition cost as fair value cannot be assessed reliably. The book values of trade receivables and receivables other than those based on derivatives are estimated to essentially correspond to their fair values due to the short maturity of the receivables. The book values of debts are estimated to correspond to their fair values. Interest rate level has no material effect. The book values of trade and other non-interest-bearing liabilities are also estimated to correspond to their fair values. Discounting has no material effect. Fair values of each financial asset and liability group are presented in more detail under the note indicated in the table above. Assets and liabilities recognised at fair value in the financial statements are categorised into three levels in the fair value hierarchy based on the inputs used in the valuation technique to determine their fair value. The three levels are: Level 1. Quoted prices(unadjusted) in active markets for identical assets or liabilities. Level 2. Inputs other than quoted prices included within Level 1 that are observable for the asset or liability either directly or indirectly e.g. discounted cash flows or valuation models. Level 3. Inputs for the asset or liability that are not based on observable market data and the fair value determination is widely based on management\u2019s judgement and the use of that in commonly approved valuation models.", "dimensions": { "concept": "ifrs-full:DisclosureOfDerivativeFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:743700M4EIEVD61PNN55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "f0__s6__6__86": { "value": "12. Book values of financial assets and liabilities by groupFinancial assets Financial assets Financial liabilities measured atBook values measured at measured at fair value through of balance Hierarchy (EUR 1000)amortised costsamortised costprofit or losssheet items Fair valuelevel Note2024 balance sheet itemsNon-current financial assetsLoan receivables 567567 567 2Current financial assetsTrade and other receivables 16,55716,557 16,557 2 15Book value by group 17,123 17,123 17,123Non-current financial liabilitiesInterest-bearing liabilities13,44613,446 13,446 2 18Derivatives designated as hedging 58 58 58 1instrumentsCurrent financial liabilitiesInterest-bearing liabilities7,2477,247 7,247 2 18Derivatives designated as hedging instruments 1Trade payables and other liabilities17,42617,426 17,426 2 21Book value by group38,11858 38,177 38,177Financial assets Financial assets Financial liabilities measured at Book values measured at measured at fair value through of balance Hierarchy (EUR 1000)amortised costsamortised costprofit or losssheet items Fair valuelevel Note2023 balance sheet itemsNon-current financial assetsLoan receivables 532532 532 2Current financial assetsTrade and other receivables 16,21816,218 16,218 2 15Book value by group 16,750 16,750 16,750Non-current financial liabilitiesInterest-bearing liabilities13,77613,776 13,776 2 18Derivatives designated as hedging 36 36 36 1instrumentsCurrent financial liabilitiesInterest-bearing liabilities4,2724,272 4,272 2 18Derivatives designated as hedging 15 15 15 1instrumentsTrade payables and other liabilities12,94712,947 12,947 2 21Book value by group30,99552 31,046 31,046Derivatives designated as hedging instruments have been bought in order to manage the risk concerning the electricity price. Other financial assets include investments in unlisted equities. The have been measured at acquisition cost as fair value cannot be assessed reliably. The book values of trade receivables and receivables other than those based on derivatives are estimated to essentially correspond to their fair values due to the short maturity of the receivables. The book values of debts are estimated to correspond to their fair values. Interest rate level has no material effect. The book values of trade and other non-interest-bearing liabilities are also estimated to correspond to their fair values. Discounting has no material effect. Fair values of each financial asset and liability group are presented in more detail under the note indicated in the table above. Assets and liabilities recognised at fair value in the financial statements are categorised into three levels in the fair value hierarchy based on the inputs used in the valuation technique to determine their fair value. The three levels are: Level 1. Quoted prices(unadjusted) in active markets for identical assets or liabilities. Level 2. Inputs other than quoted prices included within Level 1 that are observable for the asset or liability either directly or indirectly e.g. discounted cash flows or valuation models. Level 3. Inputs for the asset or liability that are not based on observable market data and the fair value determination is widely based on management\u2019s judgement and the use of that in commonly approved valuation models.", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialInstrumentsAtFairValueThroughProfitOrLossExplanatory", "language": "en", "entity": "scheme:743700M4EIEVD61PNN55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "f0__s6__6__85-1": { "value": "12. Book values of financial assets and liabilities by groupFinancial assets Financial assets Financial liabilities measured atBook values measured at measured at fair value through of balance Hierarchy (EUR 1000)amortised costsamortised costprofit or losssheet items Fair valuelevel Note2024 balance sheet itemsNon-current financial assetsLoan receivables 567567 567 2Current financial assetsTrade and other receivables 16,55716,557 16,557 2 15Book value by group 17,123 17,123 17,123Non-current financial liabilitiesInterest-bearing liabilities13,44613,446 13,446 2 18Derivatives designated as hedging 58 58 58 1instrumentsCurrent financial liabilitiesInterest-bearing liabilities7,2477,247 7,247 2 18Derivatives designated as hedging instruments 1Trade payables and other liabilities17,42617,426 17,426 2 21Book value by group38,11858 38,177 38,177Financial assets Financial assets Financial liabilities measured at Book values measured at measured at fair value through of balance Hierarchy (EUR 1000)amortised costsamortised costprofit or losssheet items Fair valuelevel Note2023 balance sheet itemsNon-current financial assetsLoan receivables 532532 532 2Current financial assetsTrade and other receivables 16,21816,218 16,218 2 15Book value by group 16,750 16,750 16,750Non-current financial liabilitiesInterest-bearing liabilities13,77613,776 13,776 2 18Derivatives designated as hedging 36 36 36 1instrumentsCurrent financial liabilitiesInterest-bearing liabilities4,2724,272 4,272 2 18Derivatives designated as hedging 15 15 15 1instrumentsTrade payables and other liabilities12,94712,947 12,947 2 21Book value by group30,99552 31,046 31,046Derivatives designated as hedging instruments have been bought in order to manage the risk concerning the electricity price. Other financial assets include investments in unlisted equities. The have been measured at acquisition cost as fair value cannot be assessed reliably. The book values of trade receivables and receivables other than those based on derivatives are estimated to essentially correspond to their fair values due to the short maturity of the receivables. The book values of debts are estimated to correspond to their fair values. Interest rate level has no material effect. The book values of trade and other non-interest-bearing liabilities are also estimated to correspond to their fair values. Discounting has no material effect. Fair values of each financial asset and liability group are presented in more detail under the note indicated in the table above. Assets and liabilities recognised at fair value in the financial statements are categorised into three levels in the fair value hierarchy based on the inputs used in the valuation technique to determine their fair value. The three levels are: Level 1. Quoted prices(unadjusted) in active markets for identical assets or liabilities. Level 2. Inputs other than quoted prices included within Level 1 that are observable for the asset or liability either directly or indirectly e.g. discounted cash flows or valuation models. Level 3. Inputs for the asset or liability that are not based on observable market data and the fair value determination is widely based on management\u2019s judgement and the use of that in commonly approved valuation models.18. Financial liabilities(EUR 1000)31 Dec 2024 31 Dec 2023Non-currentDerivatives designated as hedging instruments58 36Lease liabilities13,446 13,776Total13,50413,812CurrentLoans from financial institutions4,4041,207Derivatives designated as hedging instruments015Lease liabilities2,8433,065Total7,2474,287Current loans consist of factoring loan in 2024. More information in note 23 Pledges granted and contingent liabilities. More inforamation on Derivatives designated as hedging instruments is given in note 12 and 22. (EUR 1000)31 Dec 202431 Dec 2023Lease liabilities are payable as follows:Lease liabilitiesLease liabilitiesLease liabilities - total amount of minimum lease paymentsNo later than one year3,4223,672Later than one year and no later than five years9,5858,777Later than five years5,7247,246Total18,73119,695Lease liabilities - present value of minimum lease paymentsNo later than one year2,8433,065Later than one year and no later than five years8,1317,159Later than five years5,3146,617Total16,28816,841Unearned finance expense2,4432,854(EUR 1000)31 Dec 2024 31 Dec 2023Amounts recognised in profit or loss (EUR 1 000)Interest on lease liabilities-673 -694Expenses related to short-term leases-1,049 -985Non-cash changesFair value of Derivatives designated as Transfer between Lease Lease Changes in net debt 2024 (EUR 1 000)31 Dec 2024 Cash flowshedging instrumentsgroupsliabilities increaseliabilities decrease 31 Dec 2024Long-term liabilities total 13,812 022 -2,634 2,304 0 13,504Short-term liabilities total 4,287 3,198-15 2,624 994 -3,841 7,247Total liabilities from the financing activities 18,099 3,1987 -10 3,298 Non-cash changesFair value of Derivatives Lease designated as Transfer between liabilities Lease liabilities Changes in net debt 20231 Jan 2023 Cash flowshedging instrumentsgroupsincreasedecrease 31 Dec 2023Long-term liabilities total 14,685028 -2,485 1,584 0 13,812Short-term liabilities total 4,612-417-54 2,644 1,063 -3,561 4,287Total liabilities from the financing activities 19,297-417-26 159 2,647 -3,561 18,099", "dimensions": { "concept": "ifrs-full:DisclosureOfBorrowingsExplanatory", "language": "en", "entity": "scheme:743700M4EIEVD61PNN55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "f0__s6__6__84-1": { "value": "12. Book values of financial assets and liabilities by groupFinancial assets Financial assets Financial liabilities measured atBook values measured at measured at fair value through of balance Hierarchy (EUR 1000)amortised costsamortised costprofit or losssheet items Fair valuelevel Note2024 balance sheet itemsNon-current financial assetsLoan receivables 567567 567 2Current financial assetsTrade and other receivables 16,55716,557 16,557 2 15Book value by group 17,123 17,123 17,123Non-current financial liabilitiesInterest-bearing liabilities13,44613,446 13,446 2 18Derivatives designated as hedging 58 58 58 1instrumentsCurrent financial liabilitiesInterest-bearing liabilities7,2477,247 7,247 2 18Derivatives designated as hedging instruments 1Trade payables and other liabilities17,42617,426 17,426 2 21Book value by group38,11858 38,177 38,177Financial assets Financial assets Financial liabilities measured at Book values measured at measured at fair value through of balance Hierarchy (EUR 1000)amortised costsamortised costprofit or losssheet items Fair valuelevel Note2023 balance sheet itemsNon-current financial assetsLoan receivables 532532 532 2Current financial assetsTrade and other receivables 16,21816,218 16,218 2 15Book value by group 16,750 16,750 16,750Non-current financial liabilitiesInterest-bearing liabilities13,77613,776 13,776 2 18Derivatives designated as hedging 36 36 36 1instrumentsCurrent financial liabilitiesInterest-bearing liabilities4,2724,272 4,272 2 18Derivatives designated as hedging 15 15 15 1instrumentsTrade payables and other liabilities12,94712,947 12,947 2 21Book value by group30,99552 31,046 31,046Derivatives designated as hedging instruments have been bought in order to manage the risk concerning the electricity price. Other financial assets include investments in unlisted equities. The have been measured at acquisition cost as fair value cannot be assessed reliably. The book values of trade receivables and receivables other than those based on derivatives are estimated to essentially correspond to their fair values due to the short maturity of the receivables. The book values of debts are estimated to correspond to their fair values. Interest rate level has no material effect. The book values of trade and other non-interest-bearing liabilities are also estimated to correspond to their fair values. Discounting has no material effect. Fair values of each financial asset and liability group are presented in more detail under the note indicated in the table above. Assets and liabilities recognised at fair value in the financial statements are categorised into three levels in the fair value hierarchy based on the inputs used in the valuation technique to determine their fair value. The three levels are: Level 1. Quoted prices(unadjusted) in active markets for identical assets or liabilities. Level 2. Inputs other than quoted prices included within Level 1 that are observable for the asset or liability either directly or indirectly e.g. discounted cash flows or valuation models. Level 3. Inputs for the asset or liability that are not based on observable market data and the fair value determination is widely based on management\u2019s judgement and the use of that in commonly approved valuation models.15. Current trade receivables and other receivables(EUR 1000)31 Dec 2024 31 Dec 2023Trade receivables 16,55716,218Accrued income and prepaid expenses ofPersonnel expenses81 91Uninvoiced revenue420 445Prepaid expenses1,173 1,869Tax receivables415 491Accrued income and prepaid expenses total2,089 2,897Total18,64519,115The age distribution of Group trade receivables on the balance sheet date 31 December is presented in the following tableAge distribution of trade receivables Incl. credit loss Incl. credit loss (EUR 1000)2024provision 2023provisionUndue 13,363 46 12,279740-6 months overdue2,238 38 3,723 976-12 months overdue294 28 128 29912-24 months overdue140 73 74 50Over 24 months overdue522 435 14 64Total16,557 622 16,218 584A provision is made to the trade receivables according to following, unless it is highly likely to receive payment for the receivable: undue receivables 0.5%, 0-6 months overdue 2%, 6-12 months overdue 10%, 12-24 months overdue 50% and over 24 months overdue 100%. At the end of the financial year, there were a total of EUR 622 thousand in provisions for bad debts, of which the group\u2019s EUR 290 thousands is related to the bankruptcy of a Norwegian customer. The sales invoices are interest-free and the most general payment term is 14 days, while the payment term in the biggest invoices is 30 days. The maximum trade receivable credit risk amount on the balance sheet date 31 December by country or region: Region (EUR 1 000)2024 2023Finland 11,002 9,704Scandinavia4,713 5,188Other European countries813 1,256Other regions29 70Total16,557 16,218Credit risks from trade receivables are not concentrated. In 2024 credit losses of EUR -37 thousand (EUR -535 thousand 2023) has been recognised as expenses and are presented in other operating expenses.18. Financial liabilities(EUR 1000)31 Dec 2024 31 Dec 2023Non-currentDerivatives designated as hedging instruments58 36Lease liabilities13,446 13,776Total13,50413,812CurrentLoans from financial institutions4,4041,207Derivatives designated as hedging instruments015Lease liabilities2,8433,065Total7,2474,287Current loans consist of factoring loan in 2024. More information in note 23 Pledges granted and contingent liabilities. More inforamation on Derivatives designated as hedging instruments is given in note 12 and 22. (EUR 1000)31 Dec 202431 Dec 2023Lease liabilities are payable as follows:Lease liabilitiesLease liabilitiesLease liabilities - total amount of minimum lease paymentsNo later than one year3,4223,672Later than one year and no later than five years9,5858,777Later than five years5,7247,246Total18,73119,695Lease liabilities - present value of minimum lease paymentsNo later than one year2,8433,065Later than one year and no later than five years8,1317,159Later than five years5,3146,617Total16,28816,841Unearned finance expense2,4432,854(EUR 1000)31 Dec 2024 31 Dec 2023Amounts recognised in profit or loss (EUR 1 000)Interest on lease liabilities-673 -694Expenses related to short-term leases-1,049 -985Non-cash changesFair value of Derivatives designated as Transfer between Lease Lease Changes in net debt 2024 (EUR 1 000)31 Dec 2024 Cash flowshedging instrumentsgroupsliabilities increaseliabilities decrease 31 Dec 2024Long-term liabilities total 13,812 022 -2,634 2,304 0 13,504Short-term liabilities total 4,287 3,198-15 2,624 994 -3,841 7,247Total liabilities from the financing activities 18,099 3,1987 -10 3,298 Non-cash changesFair value of Derivatives Lease designated as Transfer between liabilities Lease liabilities Changes in net debt 20231 Jan 2023 Cash flowshedging instrumentsgroupsincreasedecrease 31 Dec 2023Long-term liabilities total 14,685028 -2,485 1,584 0 13,812Short-term liabilities total 4,612-417-54 2,644 1,063 -3,561 4,287Total liabilities from the financing activities 19,297-417-26 159 2,647 -3,561 18,09921. Current liabilities(EUR 1000)31 Dec 2024 31 Dec 2023Financial liabilities7,247 4,287Advances received8,524 7,850Trade payables14,368 9,440Total30,14021,577Accrued liabilities and prepaid income ofPersonnel expenses3,9264,243Royalties180214Residual expenses2,2562,331Other41Total6,3666,789Other current liabilities3,5073,507Other3,5073,507Provisions*7367Current liabilities39,63631,941*For more information see note 20.", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:743700M4EIEVD61PNN55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "f0__s6__6__91": { "value": "13. Deferred tax assets and liabilitiesRecognised in the Recognised in the other Recognised in the Changes in deferred taxes during 2024 (EUR 1000)1 Jan 2024income statementcomprehensive incomeretained earnings 31 Dec 2024Deferred tax assetsRight of use asset 2,4540 0 4 2,458Pension obligations -90 -10 -19Other temporary differences 753-1740 0 579Total 3,198-174-10 4 3,018Deferred tax liabilitiesRight of use asset 191196387On buildings measured at the fair value of the transition date 400 -4 0Total 1951960 -4 387Deferred tax assets and liabilities, total 3,003-370-10 8 2,631Recognised in the Recognised in the other Recognised in the Changes in deferred taxes during 2023 (EUR 1000)1 Jan 2023income statementcomprehensive incomeretained earnings 31 Dec 2023Deferred tax assetsRight of use asset 2,4540 2,454Pension obligations 30 -12 -9Other temporary differences 4252120 116 753Total 2,882212-12 116 3,198Deferred tax liabilitiesRight of use asset 7184191On buildings measured at the fair value of the transition date 16-120 0 4Total 231720 0 195Deferred tax assets and liabilities, total 2,85940-12 116 3,003Deferred tax assets have not been recognised on unused tax losses that probably cannot be utilised in the future against taxable income. The amount of such losses is EUR 34.9 million (25.1 in 2023) including current year results. Of these losses 11.3 million will expire starting from year 2033 and according to our current knowledge rest of the losses have no expiration date. The losses mainly originate from foreign subsidiaries and parent company.", "dimensions": { "concept": "ifrs-full:DisclosureOfTaxReceivablesAndPayablesExplanatory", "language": "en", "entity": "scheme:743700M4EIEVD61PNN55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "f0__s6__6__90": { "value": "13. Deferred tax assets and liabilitiesRecognised in the Recognised in the other Recognised in the Changes in deferred taxes during 2024 (EUR 1000)1 Jan 2024income statementcomprehensive incomeretained earnings 31 Dec 2024Deferred tax assetsRight of use asset 2,4540 0 4 2,458Pension obligations -90 -10 -19Other temporary differences 753-1740 0 579Total 3,198-174-10 4 3,018Deferred tax liabilitiesRight of use asset 191196387On buildings measured at the fair value of the transition date 400 -4 0Total 1951960 -4 387Deferred tax assets and liabilities, total 3,003-370-10 8 2,631Recognised in the Recognised in the other Recognised in the Changes in deferred taxes during 2023 (EUR 1000)1 Jan 2023income statementcomprehensive incomeretained earnings 31 Dec 2023Deferred tax assetsRight of use asset 2,4540 2,454Pension obligations 30 -12 -9Other temporary differences 4252120 116 753Total 2,882212-12 116 3,198Deferred tax liabilitiesRight of use asset 7184191On buildings measured at the fair value of the transition date 16-120 0 4Total 231720 0 195Deferred tax assets and liabilities, total 2,85940-12 116 3,003Deferred tax assets have not been recognised on unused tax losses that probably cannot be utilised in the future against taxable income. The amount of such losses is EUR 34.9 million (25.1 in 2023) including current year results. Of these losses 11.3 million will expire starting from year 2033 and according to our current knowledge rest of the losses have no expiration date. The losses mainly originate from foreign subsidiaries and parent company.", "dimensions": { "concept": "ifrs-full:DisclosureOfDeferredTaxesExplanatory", "language": "en", "entity": "scheme:743700M4EIEVD61PNN55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "f0__s6__6__92": { "value": "14. Inventories(EUR 1000)31 Dec 2024 31 Dec 2023Raw materials and consumables 6,9497,777Work in progress743 399Finished goods3,186 1,059Total10,8799,235The value of inventories has been written down by -488 thousand (-381 thousand 2023) due to obsolescence. In the valuation of inventories the fair value of an item as well as its usage in current product portfolio offered is monitored. Should the current product portfolio no longer carry the product to which the item is used the item is written down. If the product is still on sale but there has been decision to finish its selling, it will be written down to equal half of its value.", "dimensions": { "concept": "ifrs-full:DisclosureOfInventoriesExplanatory", "language": "en", "entity": "scheme:743700M4EIEVD61PNN55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "f0__s6__6__93": { "value": "15. Current trade receivables and other receivables(EUR 1000)31 Dec 2024 31 Dec 2023Trade receivables 16,55716,218Accrued income and prepaid expenses ofPersonnel expenses81 91Uninvoiced revenue420 445Prepaid expenses1,173 1,869Tax receivables415 491Accrued income and prepaid expenses total2,089 2,897Total18,64519,115The age distribution of Group trade receivables on the balance sheet date 31 December is presented in the following tableAge distribution of trade receivables Incl. credit loss Incl. credit loss (EUR 1000)2024provision 2023provisionUndue 13,363 46 12,279740-6 months overdue2,238 38 3,723 976-12 months overdue294 28 128 29912-24 months overdue140 73 74 50Over 24 months overdue522 435 14 64Total16,557 622 16,218 584A provision is made to the trade receivables according to following, unless it is highly likely to receive payment for the receivable: undue receivables 0.5%, 0-6 months overdue 2%, 6-12 months overdue 10%, 12-24 months overdue 50% and over 24 months overdue 100%. At the end of the financial year, there were a total of EUR 622 thousand in provisions for bad debts, of which the group\u2019s EUR 290 thousands is related to the bankruptcy of a Norwegian customer. The sales invoices are interest-free and the most general payment term is 14 days, while the payment term in the biggest invoices is 30 days. The maximum trade receivable credit risk amount on the balance sheet date 31 December by country or region: Region (EUR 1 000)2024 2023Finland 11,002 9,704Scandinavia4,713 5,188Other European countries813 1,256Other regions29 70Total16,557 16,218Credit risks from trade receivables are not concentrated. In 2024 credit losses of EUR -37 thousand (EUR -535 thousand 2023) has been recognised as expenses and are presented in other operating expenses.", "dimensions": { "concept": "ifrs-full:DisclosureOfTradeAndOtherReceivablesExplanatory", "language": "en", "entity": "scheme:743700M4EIEVD61PNN55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "f0__s6__6__96-1": { "value": "16. EquityShare capital The paid share capital entered in the Trade register is EUR 7,000,000. The counter value of a share is 1.51 (1.53). The K shares carry 20 votes at the annual general meeting and the A-shares 1 vote each. Both share series have the same dividend rights. Reserve forNumber of sharesShare premium invested Changes in share capital (1 000 eurA shares K shares Share capitalaccountunrestricted equity Treasury shares Total1 Jan 2023 3,913,389 604,8007,000 1,116 995 -4 9,108Shares of directed share issue 53,881031 Dec 2023 3,967,270 604,8007,000 1,116 995 -4 9,108Shares of directed share issue 65,71785 8531 Dec 2024 4,032,987604,8007,000 1,116 1,080 -4 9,192Martela Oyj owns 1,425 (1,425) A-shares purchased at an averageprice of 10.65. The number of treasury shares is equivalent to 0.03% (0.03) of all shares and 0.01% (0.01) of all votes. The subscription price of the directed share issue has been registered in reserve for invested unrestricted equity Company has decided on a paid direct share issue April 5, 2024, in which 65,717 of series A shares have been subscribed. The share subscription price EUR 85 thousand, has been credited tothe company\u2019s reserve for invested unrestricted equity. Company has decided on a paid directed share issue March 29, 2023, in which 53,881 of series A shares have been subscribed without consideration. The shares issued to the company have been used to pay incentives according to the company\u2019s incentive plan. Acquisition of shares for the share-based incentive scheme and the management of the scheme have been outsourced to an external service provider. Translation differences in equity comprises translation differences of financial statements of foreign subsidiaries when translated into euros and of investments in foreign units. Other reserves consists of reserve funds. The share premium account is a fund established in accordance with the previous Finnish Companies Act. According to the present Liability Companies Act (effective from September 1, 2006) it is included in restricted shareholders\u2019 equity and can no longer be accumulated. The share premium account can be reduced in accordance with the regulations on the reduction of share capital, and it can be used as a fund increase to increase share capital. The acquisition cost of treasury shares is deducted from shareholders\u2019 equity (including the related transaction costs). The parent company\u2019s distributable equity was EUR 7,136 thousand on December 31, 2024.27. Shares and shareholdersShare capital The number of registered Martela Oyj shares on December 31, 2024 was 4,639,212. The shares are divided into A and K shares. Each A share carries 1 vote and each K share 20 votes in annual general shareholders\u2019 meeting. Both share series have the same dividend rights. Martela Oyj\u2019s shares were entered in the book-entry register on February 10, 1995. The counter-book value of each share is EUR 1.51. (1.55). The A shares are quoted on the Small Cap list of Nasdaq Helsinki. % of Share Distribution of shares 31 Dec 2024Number, pcs Total EURCapital Votes % of votesK shares 604,800912,569 13 12,096,000 75A shares 4,034,4126,087,431 87 4,034,412 25Total 4,639,2127,000,000 100 16,130,412 100The largest shareholders by number of shares K series A series Total number Number % of total 31 Dec 2024sharessharesof shares % of votesvotesMarfort Oy 292,000 232,574524,574 11.3 6,072,574 37.6Isku Inspira Oy 0 481,193481,193 10.4 481,193 3.0Martela Heikki Juhani 52,122 130,942183,064 3.9 1,173,382 Palsanen Leena Maire Sinikka 6,785 131,148137,933 3.0 266,848 1.7Palsanen Jaakko Antero 1,600 132,140133,740 2.9 164,140 1.0Aurasmaa Artti Eljas Henrikki 0 114,223114,223 2.5 114,223 0.7Kelhu Markku Juhani 0 100,000100,000 2.2 100,000 0.6Seflo Ab 0 91,76091,760 2.0 91,760 0.6Meissa-Capital Oy 0 86,48786,487 1.9 86,487 0.5Sr Nordea Nordic Small Cap 0 76,28676,286 1.6 76,286 0.5Lindholm Tuija Elli Annikki 43,122 28,22171,343 1.5 890,661 5.5Martela Pekka Kalevi 69,274 869,282 1.5 1,385,488 8.6V\u00e4\u00e4t\u00e4j\u00e4 Kaj Tapani 0 66,65466,654 1.4 66,654 0.4Taipale Ville Juhani 0 61,00061,000 1.3 61,000 0.4Tuuli Markku Juhani 0 60,70660,706 1.3 60,706 0.4Andersson Minna Sinikka 49,200 049,200 1.1 984,000 Martela Mari Kaarina 20,219 9,59629,815 0.6 413,976 2.6Martela Ille Ilari 13,218 8,36821,586 0.5 272,728 1.7Other shareholders 57,260 2,223,1062,280,366 49.2 3,368,306 20.9Total 604,800 4,034,4124,639,212 100 16,130,412 100The list includes all shareholders holding over 1% of the shares or votes. The Board of Directors hold 0.4% of shares and 0.2% of votes. Martela Oyj owns 1,425 pcs A shares. Out of the shares 379 were purchased at an average price of EUR 10.65 and 1,046 were transferred from Martela Corporation\u2019s joint account to the treasury shares reserve based on the decision by the Annual General Meeting on March 13, 2018. The number of treasury shares is equivalent to 0.03% of all shares and 0.01% of all votes. The Annual General Meeting has in 2024 re-authorised the Board of Directors to decide, for the following year, on share issue, on acquiring and/or disposing of the company\u2019s shares in deviation from the pre-emptive rights of shareholders. The Annual General Meeting approved the Board of Directors\u2019 proposals, detailed in the meeting notice, to authorise the Board to acquire and/or dispose of Martela shares. The authorisation is for a maximum 450,000 of the company\u2019s A series shares. Breakdown of share ownership by number of shares held 31 Dec 2024 Number of % of total Number Number Shares, pcsshareholdersshareholdersof shares %of votes % of Votes1\u2013500 2,241 78.1271,597 5.9 279,197 1.7501\u20131,000 269 9.4217,244 4.7 221,044 1.41,001\u20135,000 247 8.6606,018 13.1 838,578 5.2Over 5,000 112 3.93,533,153 76.2 14,567,593 90.3Total 2,869 100.04,628,012 99.8 15,906,412 98.6of which nominee-registered 7128,058 2.8 128,058 0.8In the waiting list and collective account 611,200 0.2 224,000 1.4Total4,639,212 100.0 16,130,412 100.0Breakdown of shareholding by sector 31 Dec 2024Number of % of total Number Number shareholdersshareholdersof shares %of votes % of VotesPrivate companies 93 3.21,520,919 32.8 7,068,919 43.8Financial and insurance institutions 10 0.3114,452 2.5 222,951 1.4Non-profit entities 5 0.23,161 0.1 3,161 0.0Households 2,750 95.92,851,067 61.5 8,581,467 53.2Foreign investors 11 0.410,355 0.2 29,914 0.2Total 2,869 100.04,499,954 97.0 15,906,412 98.6of which nominee-registered 7128,058 2.8 128,058 0.8In the waiting list and collective account 611,200 0.2 224,000 1.4Total4,639,212 100.0 16,130,412 100.0", "dimensions": { "concept": "ifrs-full:DisclosureOfIssuedCapitalExplanatory", "language": "en", "entity": "scheme:743700M4EIEVD61PNN55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "f0__s6__6__95": { "value": "16. EquityShare capital The paid share capital entered in the Trade register is EUR 7,000,000. The counter value of a share is 1.51 (1.53). The K shares carry 20 votes at the annual general meeting and the A-shares 1 vote each. Both share series have the same dividend rights. Reserve forNumber of sharesShare premium invested Changes in share capital (1 000 eurA shares K shares Share capitalaccountunrestricted equity Treasury shares Total1 Jan 2023 3,913,389 604,8007,000 1,116 995 -4 9,108Shares of directed share issue 53,881031 Dec 2023 3,967,270 604,8007,000 1,116 995 -4 9,108Shares of directed share issue 65,71785 8531 Dec 2024 4,032,987604,8007,000 1,116 1,080 -4 9,192Martela Oyj owns 1,425 (1,425) A-shares purchased at an averageprice of 10.65. The number of treasury shares is equivalent to 0.03% (0.03) of all shares and 0.01% (0.01) of all votes. The subscription price of the directed share issue has been registered in reserve for invested unrestricted equity Company has decided on a paid direct share issue April 5, 2024, in which 65,717 of series A shares have been subscribed. The share subscription price EUR 85 thousand, has been credited tothe company\u2019s reserve for invested unrestricted equity. Company has decided on a paid directed share issue March 29, 2023, in which 53,881 of series A shares have been subscribed without consideration. The shares issued to the company have been used to pay incentives according to the company\u2019s incentive plan. Acquisition of shares for the share-based incentive scheme and the management of the scheme have been outsourced to an external service provider. Translation differences in equity comprises translation differences of financial statements of foreign subsidiaries when translated into euros and of investments in foreign units. Other reserves consists of reserve funds. The share premium account is a fund established in accordance with the previous Finnish Companies Act. According to the present Liability Companies Act (effective from September 1, 2006) it is included in restricted shareholders\u2019 equity and can no longer be accumulated. The share premium account can be reduced in accordance with the regulations on the reduction of share capital, and it can be used as a fund increase to increase share capital. The acquisition cost of treasury shares is deducted from shareholders\u2019 equity (including the related transaction costs). The parent company\u2019s distributable equity was EUR 7,136 thousand on December 31, 2024.", "dimensions": { "concept": "ifrs-full:DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory", "language": "en", "entity": "scheme:743700M4EIEVD61PNN55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "f0__s6__6__97": { "value": "Martela Oyj owns 1,425 (1,425) A-shares purchased at an averageprice of 10.65. The number of treasury shares is equivalent to 0.03% (0.03) of all shares and 0.01% (0.01) of all votes.", "dimensions": { "concept": "ifrs-full:DisclosureOfTreasurySharesExplanatory", "language": "en", "entity": "scheme:743700M4EIEVD61PNN55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "f0__s6__6__98": { "value": "17. Share-based paymentsShare-based incentive plan for the group\u2019s key employees 2024, 2025 and 2026 The prerequisite for participating in the plan is that a participant acquires the company\u00b4s series A shares up to the number determined by the Board of Directors. In order to implement the plan, the Board of Directors decided on a share issue against payment directed to the target group. Approximately 40 persons, including the CEO and other Martela\u2019s Management Team members, belong to the target group of the plan. In total, 37 people participated in the new plan. The Performance-based Matching Share Plan 2024\u20132026 consists of three performance periods, covering the financial years of 2024, 2025 and 2026, respectively. In the plan, the target group is given an opportunity to earn Martela Corporation series A shares based on performance and on their personal investment in Martela Corporation series A shares. The Board of Directors decides on the plan\u2019s performance criteria and targets to be set for each criterion at the beginning of a performance period. During the performance period 2024, the rewards are based on the Group\u2019s Earnings before Interest and Taxes (EBIT). The potential rewards based on the plan will be paid after the end of each performance period. The rewards to be paid based on the plan 2024-2026 will amount to an approximate maximum total of 1,400,000 Martela Corporation series A shares including also the proportion to be paid in cash. The cash proportions of the rewards are intended for covering taxes and tax-related expenses arising from the rewards to the participants. ProgramShare-based incentive programme 2024\u20132026TypeShareInstrumentEarning period 2024 Earning period 2025 Earning period 2026Issuing date 14.3.2024 14.3.202414.3.2024Maximum amount, pcs 1,400,000 1,400,0001,400,000Dividend adjustment No NoNoGrant date 14.3.2024 14.3.202414.3.2024Beginning of earning period 1.1.20241.1.20251.1.2026End of earning period 31.12.202431.12.202531.12.2026End of restriction period 31.5.202531.5.202631.5.2027Vesting conditions Share ownership, employment until the end of vesting date, EBITMaximum contractual life, yrs 1.41.41.4Remaining contractual life, yrs 0.41.42.4Number of persons at the end of reporting year 373737Payment method Cash & EquityCash & EquityCash & EquityChanges during the period 2024Earning period 2024 Earning period 2025 Earning period 20261 Jan Outstanding at the beginning of the reporting period, pcsChanges during the periodGranted 237,316 237,316237,316ForfeitedShares givenLost during the periodOutstanding at the end of the period 237,316237,316237,316Effects from the share based incentive programme on the financial year (EUR 1 000)20242023Expenses for the financial year, share-based payments, equity settled0 43,612IFRS 2 requires an entity to measure the award at its fair value and recognised over the vesting period. The award is recognised in equity in its full extent. The fair value of the share-based scheme when granted was the value of a company\u2019s share, EUR 1.33 per share (14.3.2024). 17. Share-based paymentsShare-based incentive plan for the group\u2019s key employees 2021, 2022 and 2023 The prerequisite for participating in the plan is that a participant acquires the company\u00b4s series A shares up to the number determined by the Board of Directors. In order to implement the plan, the Board of Directors decided on a share issue against payment directed to the target group. Approximately 40 persons, including the CEO and other Martela\u2019s Management Team members, belong to the target group of the plan. The Performance-based Matching Share Plan 2021\u20132023 consists of three performance periods, covering the financial years of 2021, 2022 and 2023, respectively.In the plan, the target group is given an opportunity to earn Martela Corporation series A shares based on performance and on their personal investment in Martela Corporation series A shares. The Board of Directors decides on the plan\u2019s performance criteria and targets to be set for each criterion at the beginning of a performance period. During the performance period 2023, the rewards are based on the Group\u2019s Earnings before Interest and Taxes (EBIT). The potential rewards based on the plan will be paid after the end of each performance period.The rewards to be paid based on the plan will amount to an approximate maximum total of 718,000 Martela Corporation series A shares including also the proportion to be paid in cash. The cash proportions of the rewards are intended for covering taxes and tax-related expenses arising from the rewards to the participants. ProgramShare-based incentive programme 2021\u20132023TypeShareInstrumentEarning period 2021 Earning period 2022 Earning period 2023Issuing date 6.5.2021 6.5.20216.5.2021Maximum amount, pcs 718,000 718,000718,000Dividend adjustment No NoGrant date 18.3.2021 18.3.202118.3.2021Beginning of earning period 1.1.20211.1.20221.1.2023End of earning period 31.12.202131.12.202231.12.2023End of restriction period 31.5.202231.5.202331.5.2024Vesting conditions Share ownership, Share ownership, Share ownership, employment until the end of employment until the end of employment until the end of vesting date, EBITvesting date, EBITvesting date, EBITMaximum contractual life, yrs 1.41.41.4Remaining contractual life, yrs 0.00.00.0Number of persons at the end of 36350reporting yearPayment method Cash & EquityCash & EquityCash & EquityChanges during the period 2023Earning period 2021 Earning period 2022 Earning period 20231 Jan 2023 Outstanding at the beginning of the 153,014 154,486157,046reporting period, pcsChanges during the periodGrantedForfeited46,742Shares given 23,305107,744Lost during the period 129,709 157,046Outstanding at the end of the period 000Effects from the share based incentive programme on the financial year 2022 (EUR 1 000)20232022Expenses for the financial year, share-based payments, equity settled43,612231,460IFRS 2 requires an entity to measure the award at its fair value and recognised over the vesting period. The award is recognised in equity in its full extent. The fair value of the share-based scheme when granted was the value of a company\u2019s share, EUR 2.85 per share (6.5.2021) and EUR 2.71 per share (23.6.2022).", "dimensions": { "concept": "ifrs-full:DisclosureOfSharebasedPaymentArrangementsExplanatory", "language": "en", "entity": "scheme:743700M4EIEVD61PNN55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "f0__s6__6__102-1": { "value": "18. Financial liabilities(EUR 1000)31 Dec 2024 31 Dec 2023Non-currentDerivatives designated as hedging instruments58 36Lease liabilities13,446 13,776Total13,50413,812CurrentLoans from financial institutions4,4041,207Derivatives designated as hedging instruments015Lease liabilities2,8433,065Total7,2474,287Current loans consist of factoring loan in 2024. More information in note 23 Pledges granted and contingent liabilities. More inforamation on Derivatives designated as hedging instruments is given in note 12 and 22. (EUR 1000)31 Dec 202431 Dec 2023Lease liabilities are payable as follows:Lease liabilitiesLease liabilitiesLease liabilities - total amount of minimum lease paymentsNo later than one year3,4223,672Later than one year and no later than five years9,5858,777Later than five years5,7247,246Total18,73119,695Lease liabilities - present value of minimum lease paymentsNo later than one year2,8433,065Later than one year and no later than five years8,1317,159Later than five years5,3146,617Total16,28816,841Unearned finance expense2,4432,854(EUR 1000)31 Dec 2024 31 Dec 2023Amounts recognised in profit or loss (EUR 1 000)Interest on lease liabilities-673 -694Expenses related to short-term leases-1,049 -985Non-cash changesFair value of Derivatives designated as Transfer between Lease Lease Changes in net debt 2024 (EUR 1 000)31 Dec 2024 Cash flowshedging instrumentsgroupsliabilities increaseliabilities decrease 31 Dec 2024Long-term liabilities total 13,812 022 -2,634 2,304 0 13,504Short-term liabilities total 4,287 3,198-15 2,624 994 -3,841 7,247Total liabilities from the financing activities 18,099 3,1987 -10 3,298 Non-cash changesFair value of Derivatives Lease designated as Transfer between liabilities Lease liabilities Changes in net debt 20231 Jan 2023 Cash flowshedging instrumentsgroupsincreasedecrease 31 Dec 2023Long-term liabilities total 14,685028 -2,485 1,584 0 13,812Short-term liabilities total 4,612-417-54 2,644 1,063 -3,561 4,287Total liabilities from the financing activities 19,297-417-26 159 2,647 -3,561 18,099Accrued liabilities and prepaid income ofPersonnel expenses3,9264,243Royalties180214Residual expenses2,2562,331Other41Total6,3666,789Other current liabilities3,5073,507Other3,5073,507Provisions*7367Current liabilities39,63631,941*For more information see note 20.", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherCurrentLiabilitiesExplanatory", "language": "en", "entity": "scheme:743700M4EIEVD61PNN55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "f0__s6__6__101": { "value": "18. Financial liabilities(EUR 1000)31 Dec 2024 31 Dec 2023Non-currentDerivatives designated as hedging instruments58 36Lease liabilities13,446 13,776Total13,50413,812CurrentLoans from financial institutions4,4041,207Derivatives designated as hedging instruments015Lease liabilities2,8433,065Total7,2474,287Current loans consist of factoring loan in 2024. More information in note 23 Pledges granted and contingent liabilities. More inforamation on Derivatives designated as hedging instruments is given in note 12 and 22. (EUR 1000)31 Dec 202431 Dec 2023Lease liabilities are payable as follows:Lease liabilitiesLease liabilitiesLease liabilities - total amount of minimum lease paymentsNo later than one year3,4223,672Later than one year and no later than five years9,5858,777Later than five years5,7247,246Total18,73119,695Lease liabilities - present value of minimum lease paymentsNo later than one year2,8433,065Later than one year and no later than five years8,1317,159Later than five years5,3146,617Total16,28816,841Unearned finance expense2,4432,854(EUR 1000)31 Dec 2024 31 Dec 2023Amounts recognised in profit or loss (EUR 1 000)Interest on lease liabilities-673 -694Expenses related to short-term leases-1,049 -985Non-cash changesFair value of Derivatives designated as Transfer between Lease Lease Changes in net debt 2024 (EUR 1 000)31 Dec 2024 Cash flowshedging instrumentsgroupsliabilities increaseliabilities decrease 31 Dec 2024Long-term liabilities total 13,812 022 -2,634 2,304 0 13,504Short-term liabilities total 4,287 3,198-15 2,624 994 -3,841 7,247Total liabilities from the financing activities 18,099 3,1987 -10 3,298 Non-cash changesFair value of Derivatives Lease designated as Transfer between liabilities Lease liabilities Changes in net debt 20231 Jan 2023 Cash flowshedging instrumentsgroupsincreasedecrease 31 Dec 2023Long-term liabilities total 14,685028 -2,485 1,584 0 13,812Short-term liabilities total 4,612-417-54 2,644 1,063 -3,561 4,287Total liabilities from the financing activities 19,297-417-26 159 2,647 -3,561 18,099", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherNoncurrentLiabilitiesExplanatory", "language": "en", "entity": "scheme:743700M4EIEVD61PNN55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "f0__s6__6__100-1": { "value": "18. Financial liabilities(EUR 1000)31 Dec 2024 31 Dec 2023Non-currentDerivatives designated as hedging instruments58 36Lease liabilities13,446 13,776Total13,50413,812CurrentLoans from financial institutions4,4041,207Derivatives designated as hedging instruments015Lease liabilities2,8433,065Total7,2474,287Current loans consist of factoring loan in 2024. More information in note 23 Pledges granted and contingent liabilities. More inforamation on Derivatives designated as hedging instruments is given in note 12 and 22. (EUR 1000)31 Dec 202431 Dec 2023Lease liabilities are payable as follows:Lease liabilitiesLease liabilitiesLease liabilities - total amount of minimum lease paymentsNo later than one year3,4223,672Later than one year and no later than five years9,5858,777Later than five years5,7247,246Total18,73119,695Lease liabilities - present value of minimum lease paymentsNo later than one year2,8433,065Later than one year and no later than five years8,1317,159Later than five years5,3146,617Total16,28816,841Unearned finance expense2,4432,854(EUR 1000)31 Dec 2024 31 Dec 2023Amounts recognised in profit or loss (EUR 1 000)Interest on lease liabilities-673 -694Expenses related to short-term leases-1,049 -985Non-cash changesFair value of Derivatives designated as Transfer between Lease Lease Changes in net debt 2024 (EUR 1 000)31 Dec 2024 Cash flowshedging instrumentsgroupsliabilities increaseliabilities decrease 31 Dec 2024Long-term liabilities total 13,812 022 -2,634 2,304 0 13,504Short-term liabilities total 4,287 3,198-15 2,624 994 -3,841 7,247Total liabilities from the financing activities 18,099 3,1987 -10 3,298 Non-cash changesFair value of Derivatives Lease designated as Transfer between liabilities Lease liabilities Changes in net debt 20231 Jan 2023 Cash flowshedging instrumentsgroupsincreasedecrease 31 Dec 2023Long-term liabilities total 14,685028 -2,485 1,584 0 13,812Short-term liabilities total 4,612-417-54 2,644 1,063 -3,561 4,287Total liabilities from the financing activities 19,297-417-26 159 2,647 -3,561 18,099Accrued liabilities and prepaid income ofPersonnel expenses3,9264,243Royalties180214Residual expenses2,2562,331Other41Total6,3666,789Other current liabilities3,5073,507Other3,5073,507Provisions*7367Current liabilities39,63631,941*For more information see note 20.", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherLiabilitiesExplanatory", "language": "en", "entity": "scheme:743700M4EIEVD61PNN55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "f0__s6__6__99": { "value": "18. Financial liabilities(EUR 1000)31 Dec 2024 31 Dec 2023Non-currentDerivatives designated as hedging instruments58 36Lease liabilities13,446 13,776Total13,50413,812CurrentLoans from financial institutions4,4041,207Derivatives designated as hedging instruments015Lease liabilities2,8433,065Total7,2474,287Current loans consist of factoring loan in 2024. More information in note 23 Pledges granted and contingent liabilities. More inforamation on Derivatives designated as hedging instruments is given in note 12 and 22. (EUR 1000)31 Dec 202431 Dec 2023Lease liabilities are payable as follows:Lease liabilitiesLease liabilitiesLease liabilities - total amount of minimum lease paymentsNo later than one year3,4223,672Later than one year and no later than five years9,5858,777Later than five years5,7247,246Total18,73119,695Lease liabilities - present value of minimum lease paymentsNo later than one year2,8433,065Later than one year and no later than five years8,1317,159Later than five years5,3146,617Total16,28816,841Unearned finance expense2,4432,854(EUR 1000)31 Dec 2024 31 Dec 2023Amounts recognised in profit or loss (EUR 1 000)Interest on lease liabilities-673 -694Expenses related to short-term leases-1,049 -985Non-cash changesFair value of Derivatives designated as Transfer between Lease Lease Changes in net debt 2024 (EUR 1 000)31 Dec 2024 Cash flowshedging instrumentsgroupsliabilities increaseliabilities decrease 31 Dec 2024Long-term liabilities total 13,812 022 -2,634 2,304 0 13,504Short-term liabilities total 4,287 3,198-15 2,624 994 -3,841 7,247Total liabilities from the financing activities 18,099 3,1987 -10 3,298 Non-cash changesFair value of Derivatives Lease designated as Transfer between liabilities Lease liabilities Changes in net debt 20231 Jan 2023 Cash flowshedging instrumentsgroupsincreasedecrease 31 Dec 2023Long-term liabilities total 14,685028 -2,485 1,584 0 13,812Short-term liabilities total 4,612-417-54 2,644 1,063 -3,561 4,287Total liabilities from the financing activities 19,297-417-26 159 2,647 -3,561 18,099", "dimensions": { "concept": "ifrs-full:DisclosureOfLeasesExplanatory", "language": "en", "entity": "scheme:743700M4EIEVD61PNN55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "f0__s6__6__106": { "value": "20. Provisions(EUR 1000)31 Dec 2024 31 Dec 2023Long-term provisions 292 269Short-term provisions73 67Total366 337Provisions 1 Jan337286Net change in provisions2950Provisions 31 Jan 366337The normal warranty for standard Martela produced products is five years. The warranty provision has been calculated as an estimate of the five year warranties for Martela products and the sale of Martela products.", "dimensions": { "concept": "ifrs-full:DisclosureOfProvisionsExplanatory", "language": "en", "entity": "scheme:743700M4EIEVD61PNN55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "f0__s6__6__107": { "value": "Accrued liabilities and prepaid income ofPersonnel expenses3,9264,243Royalties180214Residual expenses2,2562,331Other41Total6,3666,789Other current liabilities3,5073,507Other3,5073,507Provisions*7367Current liabilities39,63631,941*For more information see note 20.", "dimensions": { "concept": "ifrs-full:DisclosureOfAccruedExpensesAndOtherLiabilitiesExplanatory", "language": "en", "entity": "scheme:743700M4EIEVD61PNN55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "f0__s6__6__111": { "value": "22. Management of financial risksFinancial risks are unexpected exceptions relating to exchange rates, liquidity, customer liquidity, investments and interest rates. The objective of financial risk management is to ensure that the company has sufficient financing on a cost-efficient basis and to reduce the adverse effects of financial market fluctuations on the Group\u2019s result and net assets. The general principles of risk management are approved by the Board of Directors and the practical implementation of financial risk management is on the responsibility of the parent company\u2019s financial administration. Market risks Market risks comprise the following three risks: Currency risk, interest rate risk and price risk. The associated fluctuations in exchange rates, market interest rates and market prices may lead to changes in the fair value of financial instruments and in the future cash flows and hence they impact the result and balance sheet of the Group.The increased volatility in electricity price 2023 and 2024 has led to the decision to enter into contracts for electricity derivatives. Currency risks The Group has operations in Finland, Sweden, Norway and Poland and it is therefore exposed to currency that arise in intra-group transactions, exports and imports, the financing of foreign subsidiaries and equity that is denominated in foreign currencies. Translation risks result from incoming cash flows denominated in foreign currencies. Translation risk arise when the value of the capital invested in the parent company\u2019s foreignsubsidiaries, annual profits and loans change as a result of exchange rate fluctuations.Transaction risks Martela\u2019s major trading currencies are EUR, SEK, NOK and PLN. The SEK, NOK and PLN currency positions are reviewed mainly on a half-yearly basis. The Group\u2019s policy is to hedge the net positions remaining after reconciliation if seen necessary. The Group has not hedged against transaction risks during the financial periods of 2024 and 2023. The following table presents currency risks per instrument and currency.Transaction risks per instrument and currency 31 Dec 2024(EUR 1000)EUR SEK NOKTrade receivables 02,257 1,743Trade payables 01321 257Total 03,578 2,000Transaction risks per instrument and currency 31 Dec 2023 (EUR 1 000)EUR SEK NOKTrade receivables 02,2361,702Trade payables 064240Total 02,8781,742The impact of other currencies is minor.Analysis of sensitivity to transaction riskThe following table presents the average impact of 10% change in exchange rates on 31 December on the company\u2019s financial result before taxes and capital for 2024 (2023). The estimates are based on the assumption that no other variables change. Analysis of sensitivity to transaction risk (EUR 1 000)Impact on result31 Dec 2024EUR+/- 0SEK+/- 358NOK+/- 200Analysis of sensitivity to transaction risk (EUR 1 000)Impact on result31.12.2023EUR+/- 0SEK+/- 288NOK+/- 174Interest rate risks The following table presents the distribution of the Group\u2019s financial instruments into fixed interest rate and variable interest rate on the balance sheet date. Financial instruments (EUR 1000)31 Dec 2024 31 Dec 2023Fixed rateLease liabilities 16,28816,841Financial liabilities incl derivatives 4,4621,258Total 20,75118,099Price risk Available-for-sale shares included in financial assets are not deemed subject to resale price risk. Credit risk Credit risk arises from the possibility that a counterparty will not meet its contractual payment obligations. Hence the seriousness of the risk is determined on the basis of the counterparty\u2019s creditworthiness. The objective of credit risk management is to minimise the losses that would arise should the counterparty not meet its obligations. The turnover and maturity structure of Group\u2019s companies trade receivables are reported monthly and are monitored by the parent company\u2019s financial management. The principles of credit risk management are confirmed by Martela\u2019s Board of Directors. Risk management is based on the authorisations given to the organisation. Credit risks related to the company\u2019s trade and other receivables are minimised by using short terms of payment, effective collection measures and accounting for the counterparty\u2019s creditworthiness. Supply agreements are used when the customer company is unknown and the available credit information is insufficient. In this context a supply agreement is an agreement which secures and receivables arising from an order by withholding the right of ownership with Martela Oyj until the customer has paid the sale price in full. Supply agreements are only used in sales in Finland. A customer may also be required to make prepayment before sold products are delivered if it is considered necessary in light of the potential credit risk associated with the customer. Counterparties may also be granted to credit limits. The creditworthiness of customers is monitored regularly on the basis of payment history and credit rating. Collateral may be required from certain customers based on their creditworthiness and in the case of exports, for example, Martela may use confirmed irrevocable Letters of Credit. The book value of financial assets corresponds to the maximum amount of the credit risk. The maximum financial asset credit risk amount on the balance sheet date 31 December is presented in the following table: Maximum financial asset credit risk (EUR 1 000))2024 2023Non-current loan receivables 567532Trade receivables and other receivables 18,64519,115Cash and cash equivalents 3,9035,053Total 23,11424,700See note 15 for additional information on trade receivables and the related credit loss provisions.Liquidity risksThe group aims to constantly evaluate and monitor the amount of financing required by the business, so that the group has enough liquid assets to finance operations, including long-term commitments - such as leases - to fulfill obligations. In addition, the group aims to continuously maintain sufficient liquid assets with the help of effective cash management solutions, such as cash reserve and working capital optimization. The refinancing risk is managed in part by using several leasing and rental contract partners in financing operations. Sudden changes in the financial market or in Martela\u2019s operating environment may negatively affect the group\u2019s liquidity and how the company is able to meet its payment obligations. In addition, the profitability of the group\u2019s business and the cash flow of the business affect the development of the group\u2019s liquidity. with the aim of e.g. increasing the turnover rate of inventories and accelerating the invoicing frequency. Improving the circulation of working capital supports operational profitability. However the risks related to liquidity have increased compared to the previous year. The business environment has been very challenging in 2023 and 2024. As a result the profitability and cash flow has been weak and the liquidity situation has tightened, especially in the last half of 2024. The group has systematically implemented measures to improve profitability and cash flow.The efficiency of the group\u2019s working capital circulation has begun to be improved, Cash and cash equivalent at the year-end 2024 were EUR 3,903 thousand.Contractual cash flows mature as follows (EUR 1 000):2025 2026 2027 2028 2029 Later Total Balance sheet valueLease liabilities 3,4222,912 2,648 2,313 1,712 5,724 18,731 16,288Trade payables 14,36814,368 14,368Total 17,7902,912 2,648 2,313 1,712 5,724 33,099Cash and cash equivalent at the year-end 2023 were EUR 5,053 thousand.Contractual cash flows mature as follows (EUR 1 000):2024 2025 2026 2027 2028 Later Total Balance sheet valueLease liabilities 3,6722,698 2,171 2,009 1,900 7,246 19,695 16,841Trade payables 9,4409,440 9,440Total 13,1122,698 2,171 2,009 1,900 7,246 29,135Management of capital structureIt is the Group\u2019s objective to ensure an effective capital structure that will secure its operating capacity in the capital markets in all circumstances irrespective of volatility. The Group\u2019s Board of Directors assess the capital structure on a regular basis, The Group uses the equity ratio to monitor its capital structure.The equity ratio formula is presented in the following table: Equity ratio31 Dec 2024 31 Dec 2023Shareholders' equity1,159 9,558Balance sheet total - advance payments46,143 47,836Equity to assets ratio %2.5 20.0", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialRiskManagementExplanatory", "language": "en", "entity": "scheme:743700M4EIEVD61PNN55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "f0__s6__6__112-1": { "value": "Market risks Market risks comprise the following three risks: Currency risk, interest rate risk and price risk. The associated fluctuations in exchange rates, market interest rates and market prices may lead to changes in the fair value of financial instruments and in the future cash flows and hence they impact the result and balance sheet of the Group.The increased volatility in electricity price 2023 and 2024 has led to the decision to enter into contracts for electricity derivatives.Currency risks The Group has operations in Finland, Sweden, Norway and Poland and it is therefore exposed to currency that arise in intra-group transactions, exports and imports, the financing of foreign subsidiaries and equity that is denominated in foreign currencies. Translation risks result from incoming cash flows denominated in foreign currencies. Translation risk arise when the value of the capital invested in the parent company\u2019s foreignsubsidiaries, annual profits and loans change as a result of exchange rate fluctuations.Interest rate risks The following table presents the distribution of the Group\u2019s financial instruments into fixed interest rate and variable interest rate on the balance sheet date. Financial instruments (EUR 1000)31 Dec 2024 31 Dec 2023Fixed rateLease liabilities 16,28816,841Financial liabilities incl derivatives 4,4621,258Total 20,75118,099Price risk Available-for-sale shares included in financial assets are not deemed subject to resale price risk.", "dimensions": { "concept": "ifrs-full:DisclosureOfMarketRiskExplanatory", "language": "en", "entity": "scheme:743700M4EIEVD61PNN55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "f0__s6__6__116": { "value": "Credit risk Credit risk arises from the possibility that a counterparty will not meet its contractual payment obligations. Hence the seriousness of the risk is determined on the basis of the counterparty\u2019s creditworthiness. The objective of credit risk management is to minimise the losses that would arise should the counterparty not meet its obligations. The turnover and maturity structure of Group\u2019s companies trade receivables are reported monthly and are monitored by the parent company\u2019s financial management. The principles of credit risk management are confirmed by Martela\u2019s Board of Directors. Risk management is based on the authorisations given to the organisation. Credit risks related to the company\u2019s trade and other receivables are minimised by using short terms of payment, effective collection measures and accounting for the counterparty\u2019s creditworthiness. Supply agreements are used when the customer company is unknown and the available credit information is insufficient. In this context a supply agreement is an agreement which secures and receivables arising from an order by withholding the right of ownership with Martela Oyj until the customer has paid the sale price in full. Supply agreements are only used in sales in Finland. A customer may also be required to make prepayment before sold products are delivered if it is considered necessary in light of the potential credit risk associated with the customer. Counterparties may also be granted to credit limits. The creditworthiness of customers is monitored regularly on the basis of payment history and credit rating. Collateral may be required from certain customers based on their creditworthiness and in the case of exports, for example, Martela may use confirmed irrevocable Letters of Credit. The book value of financial assets corresponds to the maximum amount of the credit risk. The maximum financial asset credit risk amount on the balance sheet date 31 December is presented in the following table: Maximum financial asset credit risk (EUR 1 000))2024 2023Non-current loan receivables 567532Trade receivables and other receivables 18,64519,115Cash and cash equivalents 3,9035,053Total 23,11424,700See note 15 for additional information on trade receivables and the related credit loss provisions.", "dimensions": { "concept": "ifrs-full:DisclosureOfCreditRiskExplanatory", "language": "en", "entity": "scheme:743700M4EIEVD61PNN55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "f0__s6__6__117": { "value": "Liquidity risksThe group aims to constantly evaluate and monitor the amount of financing required by the business, so that the group has enough liquid assets to finance operations, including long-term commitments - such as leases - to fulfill obligations. In addition, the group aims to continuously maintain sufficient liquid assets with the help of effective cash management solutions, such as cash reserve and working capital optimization. The refinancing risk is managed in part by using several leasing and rental contract partners in financing operations. Sudden changes in the financial market or in Martela\u2019s operating environment may negatively affect the group\u2019s liquidity and how the company is able to meet its payment obligations. In addition, the profitability of the group\u2019s business and the cash flow of the business affect the development of the group\u2019s liquidity. with the aim of e.g. increasing the turnover rate of inventories and accelerating the invoicing frequency. Improving the circulation of working capital supports operational profitability. However the risks related to liquidity have increased compared to the previous year. The business environment has been very challenging in 2023 and 2024. As a result the profitability and cash flow has been weak and the liquidity situation has tightened, especially in the last half of 2024. The group has systematically implemented measures to improve profitability and cash flow.The efficiency of the group\u2019s working capital circulation has begun to be improved, Cash and cash equivalent at the year-end 2024 were EUR 3,903 thousand.Contractual cash flows mature as follows (EUR 1 000):2025 2026 2027 2028 2029 Later Total Balance sheet valueLease liabilities 3,4222,912 2,648 2,313 1,712 5,724 18,731 16,288Trade payables 14,36814,368 14,368Total 17,7902,912 2,648 2,313 1,712 5,724 33,099Cash and cash equivalent at the year-end 2023 were EUR 5,053 thousand.Contractual cash flows mature as follows (EUR 1 000):2024 2025 2026 2027 2028 Later Total Balance sheet valueLease liabilities 3,6722,698 2,171 2,009 1,900 7,246 19,695 16,841Trade payables 9,4409,440 9,440Total 13,1122,698 2,171 2,009 1,900 7,246 29,135", "dimensions": { "concept": "ifrs-full:DisclosureOfLiquidityRiskExplanatory", "language": "en", "entity": "scheme:743700M4EIEVD61PNN55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "f0__s6__6__118": { "value": "Management of capital structureIt is the Group\u2019s objective to ensure an effective capital structure that will secure its operating capacity in the capital markets in all circumstances irrespective of volatility. The Group\u2019s Board of Directors assess the capital structure on a regular basis, The Group uses the equity ratio to monitor its capital structure.The equity ratio formula is presented in the following table: Equity ratio31 Dec 2024 31 Dec 2023Shareholders' equity1,159 9,558Balance sheet total - advance payments46,143 47,836Equity to assets ratio %2.5 20.0", "dimensions": { "concept": "ifrs-full:DisclosureOfObjectivesPoliciesAndProcessesForManagingCapitalExplanatory", "language": "en", "entity": "scheme:743700M4EIEVD61PNN55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "f0__s6__6__124": { "value": "Holding (%) Of votes (%) Production Group structureDomicile31 Dec 202431 Dec 2024 Sales companyFinland x xcompanyParent companyMartela Oyj100 100 x xSubsidiariesKidex OyFinlandMuuttopalvelu Grundell OyFinland100 100 xMartela AB, N\u00e4ssj\u00f6Sweden100 100 xAski Avvecklingsbolag AB, Malm\u00f6Sweden100 100Martela AS, OsloNorway100 100 x x100 100 xTehokaluste OyMartela Sp.z o.o., VarsovaPoland", "dimensions": { "concept": "ifrs-full:DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory", "language": "en", "entity": "scheme:743700M4EIEVD61PNN55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "f0__s6__6__123": { "value": "24. Related party transactionsMartela Group\u2019s related party transactions comprise the CEO, members of the Board and the Group Management Team, as well as their family members. Martela Group\u2019s related parties also include a shareholder who holds at least 20% of the company\u2019s total number of votes.Members of the Board own a total of 18,142 shares (18,142) and hold a total of 0.4% (0.4%) of the shares and 0.4% (0.4%) of the votes. Persons in the management own a total of 150,295 (109,191) Martela Corporation shares as at December 31, 2024. As part of the implementation of the Performance-based Matching Share Plan, described in note 17, the Board of Directors has resolved to grant plan participants interest-bearing loans to finance the acquisition of the company\u2019s shares. Maximum amount of the loan is 70% of the participant\u00b4s investment in shares. Loan is to be repaid the latest by December 31, 2027 and interest is 12-month Euribor, however not below 0%. Management has been granted loan in total EUR 173,927.66 (137,888.02), of which EUR 81,889.99 (69,999.93) has been granted to CEO and other management EUR 92,037.67 (67,888.09). Holding (%) Of votes (%) Production Group structureDomicile31 Dec 202431 Dec 2024 Sales companyFinland x xcompanyParent companyMartela Oyj100 100 x xSubsidiariesKidex OyFinlandMuuttopalvelu Grundell OyFinland100 100 xMartela AB, N\u00e4ssj\u00f6Sweden100 100 xAski Avvecklingsbolag AB, Malm\u00f6Sweden100 100Martela AS, OsloNorway100 100 x x100 100 xTehokaluste OyMartela Sp.z o.o., VarsovaPolandManagement employee benefits The Group has determined key persons in management to be:Members of the Board of DirectorsCEO Group\u2019s Management Team The table below presents the employee benefits received by key persons in management. Employee benefits are presented with the accrual method.(EUR 1000)2024 2023Management employee benefitsSalaries and other short-term employee benefits-1,175 -1,184Share-based benefits0 -121Total-1,175 -1,305Salaries and feesthe Board members-167 -162CEO-240 -314the Management Team members (excl. CEO)-768 -829Total-1,175 -1,305Fees paid to the Board members:2024 2023Martela Eero -23.8 -23.4Mattsson Jan-23.8 -23.4Mellstr\u00f6m Katarina *)- 7. 9 -23.4Mild Johan-46.0 -45.1Veps\u00e4l\u00e4inen Anni -23.8 -23.4Mattila Hanna-23.8 -23.4Jacob Kragh **)-17.9 0.0Total-167.0 -161.9*)Member of the Board until Q1 2024.**)Member of the Board from Q2 2024.Fees based on the Board membership are not paid to members employed by the company.Salaries, fees and pension commitment to CEO2024 2023Salaries and fees-240 -314Statutory earnings-related pension payment (TyEL) on salaries-58 -65Salaries include also share-based incentives. The period of notice is 6 months with respect to both the present CEO and the company, and in the event of dismissal by the company, the CEO is entitled, besides of the notice period, to a lump-sum compensation equalling hies salary for 6 months. CEO and the Group Management Team has long term share-based incentive programme, in which is possible to receive Martela A shares when the set targets are met. More information in note 17 Share-based payments.", "dimensions": { "concept": "ifrs-full:DisclosureOfInformationAboutKeyManagementPersonnelExplanatory", "language": "en", "entity": "scheme:743700M4EIEVD61PNN55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "f0__s6__6__122": { "value": "24. Related party transactionsMartela Group\u2019s related party transactions comprise the CEO, members of the Board and the Group Management Team, as well as their family members. Martela Group\u2019s related parties also include a shareholder who holds at least 20% of the company\u2019s total number of votes.Members of the Board own a total of 18,142 shares (18,142) and hold a total of 0.4% (0.4%) of the shares and 0.4% (0.4%) of the votes. Persons in the management own a total of 150,295 (109,191) Martela Corporation shares as at December 31, 2024. As part of the implementation of the Performance-based Matching Share Plan, described in note 17, the Board of Directors has resolved to grant plan participants interest-bearing loans to finance the acquisition of the company\u2019s shares. Maximum amount of the loan is 70% of the participant\u00b4s investment in shares. Loan is to be repaid the latest by December 31, 2027 and interest is 12-month Euribor, however not below 0%. Management has been granted loan in total EUR 173,927.66 (137,888.02), of which EUR 81,889.99 (69,999.93) has been granted to CEO and other management EUR 92,037.67 (67,888.09). Holding (%) Of votes (%) Production Group structureDomicile31 Dec 202431 Dec 2024 Sales companyFinland x xcompanyParent companyMartela Oyj100 100 x xSubsidiariesKidex OyFinlandMuuttopalvelu Grundell OyFinland100 100 xMartela AB, N\u00e4ssj\u00f6Sweden100 100 xAski Avvecklingsbolag AB, Malm\u00f6Sweden100 100Martela AS, OsloNorway100 100 x x100 100 xTehokaluste OyMartela Sp.z o.o., VarsovaPolandManagement employee benefits The Group has determined key persons in management to be:Members of the Board of DirectorsCEO Group\u2019s Management Team The table below presents the employee benefits received by key persons in management. Employee benefits are presented with the accrual method.(EUR 1000)2024 2023Management employee benefitsSalaries and other short-term employee benefits-1,175 -1,184Share-based benefits0 -121Total-1,175 -1,305Salaries and feesthe Board members-167 -162CEO-240 -314the Management Team members (excl. CEO)-768 -829Total-1,175 -1,305Fees paid to the Board members:2024 2023Martela Eero -23.8 -23.4Mattsson Jan-23.8 -23.4Mellstr\u00f6m Katarina *)- 7. 9 -23.4Mild Johan-46.0 -45.1Veps\u00e4l\u00e4inen Anni -23.8 -23.4Mattila Hanna-23.8 -23.4Jacob Kragh **)-17.9 0.0Total-167.0 -161.9*)Member of the Board until Q1 2024.**)Member of the Board from Q2 2024.Fees based on the Board membership are not paid to members employed by the company.Salaries, fees and pension commitment to CEO2024 2023Salaries and fees-240 -314Statutory earnings-related pension payment (TyEL) on salaries-58 -65Salaries include also share-based incentives. The period of notice is 6 months with respect to both the present CEO and the company, and in the event of dismissal by the company, the CEO is entitled, besides of the notice period, to a lump-sum compensation equalling hies salary for 6 months. CEO and the Group Management Team has long term share-based incentive programme, in which is possible to receive Martela A shares when the set targets are met. More information in note 17 Share-based payments.", "dimensions": { "concept": "ifrs-full:DisclosureOfRelatedPartyExplanatory", "language": "en", "entity": "scheme:743700M4EIEVD61PNN55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "f0__s6__6__121": { "value": "23. Pledges granted and contingent liabilities(EUR 1000)31 Dec 2024 31 Dec 2023Debts secured by mortgages0 0Corporate mortgages9,809 9,895Total mortgages9,809 9,895Other pledgesGuarantees as security for rents898854CommitmentsRent commitments323589Factoring debts which customer receivables as guarantee4,4041,207Factoring receivables as guarantee5,0951,608", "dimensions": { "concept": "ifrs-full:DisclosureOfContingentLiabilitiesExplanatory", "language": "en", "entity": "scheme:743700M4EIEVD61PNN55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "f0__s6__6__120": { "value": "23. Pledges granted and contingent liabilities(EUR 1000)31 Dec 2024 31 Dec 2023Debts secured by mortgages0 0Corporate mortgages9,809 9,895Total mortgages9,809 9,895Other pledgesGuarantees as security for rents898854CommitmentsRent commitments323589Factoring debts which customer receivables as guarantee4,4041,207Factoring receivables as guarantee5,0951,608", "dimensions": { "concept": "ifrs-full:DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory", "language": "en", "entity": "scheme:743700M4EIEVD61PNN55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "f0__s6__6__119": { "value": "23. Pledges granted and contingent liabilities(EUR 1000)31 Dec 2024 31 Dec 2023Debts secured by mortgages0 0Corporate mortgages9,809 9,895Total mortgages9,809 9,895Other pledgesGuarantees as security for rents898854CommitmentsRent commitments323589Factoring debts which customer receivables as guarantee4,4041,207Factoring receivables as guarantee5,0951,608", "dimensions": { "concept": "ifrs-full:DisclosureOfCollateralExplanatory", "language": "en", "entity": "scheme:743700M4EIEVD61PNN55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } }, "f0__s6__6__125": { "value": "26. Key share-related figures2024 2023 2022 2021 2020Earnings per share EUR-1.87 -0.77 0.57 -0.53 -1.16Earnings per share (diluted) EUR-1.87 -0.77 0.57 -0.53 -1.16Share par value EUR1.51 1.53 1.55 1.55 1.68Dividend EUR0.00*) 0.00 0.10 0.000.00Dividend/earnings per share %0.00*) 0.00 17.69 0.000.00Effective dividend yield %0.00 0.00 0.04 0.000.00Equity per share EUR0.25 2.09 3.07 2.392.81Price of A share 31 Dec EUR 0.85 1.28 2.45 2.29 3.09Share issue-adjusted number of shares tpcs4,639.21 4,573.50 4,519.61 4,508.044,155.60Average share-issue adjusted number of shares tpcs4,639.21 4,573.50 4,519.61 4,508.044,155.60Price/earnings ratio-0.45 -1.67 4.34 -4.32-2.66Market value of shares **) meur3.94 5.85 11.07 10.2912.80*) Proposal by the Board of Directors for year 2024**) Price of A shares used as value of K sharesFormulas to key figuresEarnings / share =Profit attributable to equity holders of the parentAverage share issue-adjusted number of sharesPrice /earnings multiple (P/E) =Share issue-adjusted share price at year-endEarnings / shareEquity / share, EUR =Equity attributable to the equity holders of the parentShare issue-adjusted number of shares at year-endDividend / share, EUR =Dividend for the financial yearShare issue-adjusted number of shares at year-endDividend / earnings, % =Dividend / share x 100Earnings / shareEffective dividend yield, % =Share issue-adjusted dividend / share x 100Share issue-adjusted share price at the year-endMarket value of shares, EUR =Total number of shares at year end x share price on the balance sheet dateReturn on equity, % =Profit/loss for the financial year x 100Equity (average during the year)Return on investment, % =(Pre-tax profit/loss + interest expenses + other financial items) x 100Balance sheet total - Non-interest-bearing liabilities (average during the year)Equity ratio, % =Equity x 100Balance sheet total - advances receivedGearing, % =Interest-bearing liabilities - cash, cash equivalents and liquid asset securities x 100EquityPersonnel on average =Month-end average number of personnel in active employmentInterest-bearing net debt =Interest-bearing debt - cash and other liquid financial assets", "dimensions": { "concept": "ifrs-full:DisclosureOfDividendsExplanatory", "language": "en", "entity": "scheme:743700M4EIEVD61PNN55", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00" } } } }