Kesla (KELAS) Q1 2025 earnings summary

Executive summary

• Revenue declined 22.5% year-over-year to €8.3 million in Q1 2025, mainly due to low order intake in late 2024 and delivery delays from labor actions.

• Operating result was negative at -€778 thousand, down from €85 thousand a year earlier, reflecting weak volumes and profitability.

• Order intake rose 26.1% year-over-year to €11.5 million, the highest since Q2 2023, while order backlog improved from year-end but remained 30% below Q1 2024.

• Company continued cost adaptation measures, including up to 90-day furloughs for all staff and organizational changes in customer-facing functions.

Financial highlights

• Net income per share was -€0.28, compared to -€0.02 in Q1 2024.

• Operating cash flow was -€229 thousand, down from €1.7 million a year ago, impacted by weak profitability and delivery delays.

• Gross investments dropped 87.4% year-over-year to €46 thousand.

• Export share at period end was 53.1%, up from 50.3% a year earlier.

Outlook and guidance

• 2025 revenue expected to decline and operating result to remain at 2024 levels.

• Focus areas for 2025 include implementing a new strategy centered on renewal, profitable growth, and customer collaboration.