Strong signs of a turnaround underway at the company, hopefully this momentum continues in the future. Yesterday’s news regarding the potential merging of share classes is also good.
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It was quite a wild ride yesterday, from 6.00 euros to a peak of 7.86 with jumps of tens of cents at a time, and then back to the starting point.
Today it continues among the top gainers, although a bit more calmly.
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Here are Aapeli’s preview comments as Kesla reports its results on Thursday 
We estimate that the company’s revenue decreased from a slightly soft comparison period and that the operative result fell clearly into the red. Instead, we expect the company’s order intake to have grown significantly due to a major Defence order timed for the quarter. Alongside the figures, our interest is focused on the demand outlook in the civil and defense sectors, the progress of the business turnaround program and the structural evaluation process, as well as the company’s financial position.
Here is the company report from Aapeli following Kesla’s Q1 results
Kesla’s Q1 result dipped into a loss as expected, reflecting the low order backlog. Order intake jumped due to a large Defence order, and the civilian side also showed cautious signs of recovery. Consequently, we have raised our forecasts for the coming years, although the development of the situation in the Middle East casts some uncertainty over the outlook. Despite the higher forecasts, we still see high financing-related risks weighing on the risk-adjusted expected return, in addition to the recent share price rise.
Here are Aapeli’s comments as Kesla plans the divestment of tractor-mounted civil applications
The decision is part of a broader structural review process initiated by the company in December 2025. In our view, the decision is a logical and fairly expected next step in the company’s turnaround program, and it enables the allocation of resources to the remaining civil products and especially to the Defence business. Furthermore, a successful business sale could support the company’s financial position and lower the financial risk level. The initiation of the divestment process has no immediate impact on our forecasts, but we will continue to monitor the progress of the process and its effects on the company’s structure.