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Kesla (KELAS) investor relations material

Kesla Q2 2026 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q2 2026 earnings summary21 Aug, 2026

Executive summary

  • Revenue grew 8.8% to €11.9 million in Q2 2026 and 3.4% to €19.9 million for H1 2026 year-over-year.

  • Operating result turned positive in Q2 at €165 thousand (from -€491 thousand), and improved to -€575 thousand for H1 (from -€1,269 thousand).

  • Order backlog surged 178% to €25.4 million at the end of June 2026, driven by a major Defence order.

  • Cash flow from operations strengthened significantly to €3.7 million in Q2 and €4.7 million in H1.

  • Strategic restructuring and cost-saving measures continued, including divestment processes and workforce adjustments.

Financial highlights

  • Orders received in H1 rose 74.7% to €37.6 million, with Defence contributing €17 million.

  • EBITDA improved to €104 thousand in H1 (from -€514 thousand), and to €501 thousand in Q2 (from -€116 thousand).

  • EPS improved to -€0.32 in H1 (from -€0.46) and to -€0.06 in Q2 (from -€0.19).

  • Net financial expenses increased due to new financing arrangements.

  • Net result for H1 was -€1.09 million (from -€1.57 million).

Outlook and guidance

  • Revenue for 2026 is expected at €38–45 million, with operating margin between -2% and +2%, assuming stable market conditions.

  • Focus remains on restructuring, cost efficiency, and strengthening Defence segment.

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