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Kesla (KELAS) investor relations material
Kesla Q1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Revenue declined 3.5% year-over-year to €8.0 million for Q1 2026, with operating result nearly flat at -€0.74 million.
Order intake surged to €27.8 million from €11.5 million, driven by strong defense sector demand.
Order backlog at quarter-end was €27.5 million, up from €10.3 million a year earlier.
Operating cash flow improved to €0.93 million from -€0.23 million, reflecting effective working capital management.
EPS was -€0.27, slightly better than -€0.28 in the prior year period.
Financial highlights
EBITDA for Q1 2026 was -€0.40 million, with an EBITDA margin of -4.9%.
Net debt increased to €9.7 million, with a gearing ratio of 147.5% (up from 111.5%).
Equity ratio declined to 25.5% from 35.2% year-over-year.
Export share of revenue rose to 70.3% from 53.1% in Q1 2025.
Outlook and guidance
Full-year 2026 revenue expected between €38–45 million; operating margin guidance between -2% and +2% if market conditions remain stable.
Defense sector outlook strengthened by a major NATO country order; deliveries to begin summer 2026 and continue for about a year.
Continued focus on operational efficiency, financial health, and strategic restructuring.
- Revenue and profit declined sharply, but major defense order boosts 2026 outlook.KELAS
Q4 202526 Mar 2026 - Revenue and profitability fell sharply, with further declines expected amid weak demand.KELAS
Q3 202531 Oct 2025 - Revenue fell 31% and operating result turned negative amid weak demand and market uncertainty.KELAS
Q3 202424 Sep 2025 - Revenue and operating profit fell significantly, with a negative outlook for the rest of 2025.KELAS
Q2 202515 Aug 2025 - Kesla's H1 2024 profit stayed positive despite a 24% revenue drop and weak market demand.KELAS
Q2 202413 Jun 2025 - Revenue down, losses deepened, but order intake rebounded 26% year-over-year.KELAS
Q1 20256 Jun 2025 - Revenue down 20%, order backlog halved, 2025 outlook stable with slight profit improvement.KELAS
Q4 20245 Jun 2025
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