Kesla Oyj corrects financial statement for fiscal year 2025

Forestry equipment manufacturer Kesla Oyj has issued a corrected financial statement for the fiscal year 2025. The correction was prompted by an internal comment inadvertently left on page 13 of the original release. Additionally, the company clarified information regarding breaches of financial covenant terms.

For the fiscal year 2025, revenue fell by 22.4% to EUR 34.4 million, down from EUR 44.3 million in the previous year. The operating result shifted to a loss of EUR 4.9 million, compared to a profit of EUR 38 thousand in the prior year. Kesla had previously announced in December 2025 the initiation of a business and financial restructuring and assessment process.

Kesla Oyj attributed the decline to general market uncertainty, trade policy, geopolitical situations, and reduced demand within the forest and customer industries. At the end of the fiscal year, the order backlog stood at EUR 7.6 million, a 5.1% increase from the previous year.

The company had to account for covenant breaches on its financial obligations for the full year and the fourth quarter, leading to the reclassification of long-term debt to short-term. Kesla has received consent from its financiers for these breaches, which includes conditions related to the execution of the company's restructuring program and strengthening its financial position.