Kesla - company presentation by CEO Pasi Nieminen,
Listeds Investor Event: Defence, Helsinki, 21 September 2026.

The speaker outlines how a 65-year-old Finnish industrial manufacturer - Kesla has adapted its core machinery and civil technology expertise for the defense sector. The speaker details the company's counter-mobility platforms, key NATO contracts, and how shifting modern warfare dynamics drive demand for agile, tractor-based defense solutions.

Key takeaways:

• Company Background: Founded in 1960 and publicly listed since the 1980s, Kesla operates three factories in Northern Karelia, Finland, generating approximately €35 million in turnover with 200 employees.

• Business Evolution: Originally focused on agricultural and forestry machinery logistics, Kesla entered the defense sector roughly ten years ago in partnership with the Finnish Defense Forces.

• Kesla Kerberos Platform: A concept developed for counter-mobility, logistics, and salvage that solved a key military issue: installing anti-tank mines into frozen or hard ground.

• Hydrax Concept: A tractor-attached system designed for versatile off-road firefighting and industrial washing in challenging terrains inaccessible to standard fire brigade vehicles.

• Integrated Logistics Services (ILS): Focuses on maintenance, training, spare parts, security of supply, and strategic partnerships with defense prime integrators.

• International Expansion: After securing adoption by the Finnish military four years ago, Kesla achieved a €17 million contract with a NATO nation in March 2026 for Kerberos units and ILS services.

• Active Deployment: Kesla Kerberos is currently in active or test use across three countries.

  Trend 1 - Production Bottlenecks: Sold-out capacity for heavy military machinery drives demand for modular, agile, cost-effective civil tech adaptations.

  Trend 2 - Drone Warfare: Identified by the speaker as the most critical trend, drone threats force military units to operate concealed under terrain protection, increasing the need for off-road mobile platforms.

  Trend 3 - Tractor-Based Platforms: Defense forces are leveraging high European tractor production capacity, versatile terrain performance, and widespread operator availability for military applications.