Patria is a modern and international defence and technology company with over 100 years of experience. Through our top-notch experts and Protected Mobility, Defence and Weapon Systems and Sustainment Solutions business areas, we ensure reliable operations for our customers and serve as a partner in critical functions on land, sea and air - when if is not an option.
Year 2025 was defining for Patria, marked by the shift from ambition to delivery. As the global security environment continued to evolve, our aim remained the same: to serve the needs of our customers by delivering capabilities and grow alongside them.
Throughout the year, we demonstrated what ambition looks like in practice: we scaled production, entered new partnerships, advanced major programmes, and reinforced Europe's preparedness for the challenges to come.
To translate ambition into execution, as of 1 June 2025, Patria transitioned into our new operating model. By structuring ourselves into three key business areas, we ensure keeping adapting to a changing operating environment while responding effectively to increased demand and defence spending.
Across our operations, the focus on Protected Mobility, Defence and Weapon Systems, and Sustainment Solutions will enable faster platform delivery, stronger mission capability, and full lifecycle support to our customers. This new operating model will allow us to strengthen collaboration across the organisation as well as deliver at a faster speed, aligning with our customers’ operational priorities.
Patria’s performance in 2025 was driven by strong execution and a significant increase in demand. We saw revenue increase by 32 per cent to exceed EUR 1 billion, while our order stock surpassed EUR 3.5 billion; both numbers at an all-time high level.
“Our mindset guided every decision we made and delivered results.”
Patria's mission is to deliver to all our customers. By the end of 2025, more than half (51%) of our net sales came from outside of Finland for the first time, a clear milestone reflecting the growing international reach of our capabilities.
We also launched a major internal programme focused on improving Patria's profitability, while both Nammo and Millog continued to deliver very strong results.
In 2025, the Common Armoured Vehicle System (CAVS) programme proved the importance of critical mass. In December, Patria and Germany agreed procurement contracts including options worth over EUR 2 billion – a pivotal moment that opens doors for further cooperation. The order comprises Patria 6x6 vehicles as well as Patria NEMO mortar systems, reflecting significant market interest also in our leading mortar system solutions.
“With more countries joining CAVS, processes become smoother, costs go down, and the joint programme becomes a reference for others.”
By the end of the year, seven countries were part of CAVS, with Denmark, the United Kingdom, and Norway joining the programme during the year, further strengthening interoperability and interchangeability among close partners, including within the Joint Expeditionary Force (JEF). Through the CAVS programme, we have already received orders including options for nearly 2,000 Patria 6x6 vehicles.
In response to growing capability needs, in September, we unveiled the Patria TRACKX tracked vehicle at DSEI UK in London. This system is the next evolution of battlefield mobility, designed to survive extreme conditions and optimised for all-terrain, and has been developed within the framework of the multinational EDF-funded FAMOUS programme.
The Patria TRACKX will be ready for serial production in 2027, and it represents a major step forward in European and allied mobility. We will continue exploring future performance-enhancing technologies as an investment today, for the European and allied capability needs of tomorrow.
At Patria, we have continued to invest in the development of our own manufacturing operations, particularly within the Protected Mobility business area, which includes the armoured Patria 6x6, Patria AMV XP and Patria TRACKX vehicle programmes.
We have significantly increased our in-house production and invested in our facilities in Hämeenlinna, Finland and Valmiera, Latvia. In Hämeenlinna, production capacity has also been expanded for the Patria NEMO mortar system, as well as for the latest addition, the Patria TREMOS mortar system.
“Demand for both Patria NEMO and TREMOS mortar systems has grown considerably.”
In addition, we have continued to promote our technology transfer and local manufacturing concept. Although production has remained at a strong level, we are preparing for future demand to require additional capacity. A key example of this is the cooperation agreement concluded at the end of 2025 between Patria and Valmet Automotive, covering technology transfer for armoured vehicle manufacturing and the production of the first vehicles. First Patria’s armoured vehicles will be manufactured at Valmet Automotive’s production facility in Uusikaupunki in Finland during the second half of 2026.
A testament to Patria’s expertise in armoured mobility, together with our proven track record in international partnerships, in 2022 the Patria AMV 8x8 XP was selected as the successor to the Japan Ground Self-Defense Force’s previously used vehicle fleet.
In September 2025, the first Patria AMV XP 8x8 armoured vehicle within the local 8x8 programme was delivered by Japan Steel Works in Japan.
“Selected to bring modernisation and resilience, the programme uses technology transfer and brings local production to the Japanese Ground Self-Defense Forces.”
Japan is already the ninth user nation of Patria AMV vehicles and has joined the international AMV community. We are now focused on successful delivery and deepening our long-term cooperation while discussing new opportunities locally.
Patria’s new F‑35 assembly, manufacturing and production facilities in Linnavuori, Nokia and Halli, Jämsä were completed in 2025. This also included the completion of the F‑35 engine assembly and maintenance facility in Linnavuori, in collaboration with RTX’s Pratt & Whitney, and the completion of the forward fuselage production line in Halli.
These projects support industrial growth and will strengthen Finland's air power in the coming years while also positioning Halli to manufacture components for the global Lockheed Martin F‑35 supply chain and support long-term industrial resilience.
The acquisition of ILIAS Solutions, a leading Belgium-based digital defence platform provider, supports significantly expanding our expertise in defence fleet management. The integration of ILIAS into the Patria OPTIME service concept will ensure that our customers' fleets perform at their best in every operational environment.
Since 2025, Patria has also been leading a new industrial consortium, the Artificial Intelligence Warfare Adaptive Swarm Platform (AI-WASP) programme, focusing on AI-driven electronic warfare and data transfer technologies. Supported by EUR 45 million from the European Commission, this programme has put Patria at the forefront of Europe's technological defence capabilities, following the success stories of FAMOUS and CAVS.
Demand for Patria’s products, services, and expertise continues to grow strongly. This is not accidental. It is the result of long-term focus, investment and the trust placed in us by our customers and the continuous efforts of our over 4000 talented Patrians. As we look ahead, our core driver remains the same: ambition. At Patria, we believe in work that matters and everyone’s capability to make a difference.
While it may be difficult to predict future demands based on today's global security, we will continue to do everything in our power to meet our customers' evolving requirements, shoulder to shoulder with our partners.
Our commitment is simple: deliver when it matters most, because if is not an option.
Esa Rautalinko
President and CEO
Patria
Patria's sustainability responsibility programme is guided by the company's core mission to deliver reliable defence and security solutions and to strengthen national security and resilience. The sustainability responsibility programme guides the organisation's commitment to ethical business, social sustainability responsibility and environmental sustainability responsibility. The work emphasises high business ethics throughout the value chain, adherence to human rights and fundamental principles of working life, as well as sustainability responsibility requirements for employees and partners.
Patria complies with the principles of the Universal Declaration of Human Rights of the United Nations (UN) and the Declaration on Fundamental Principles and Rights at Work of the International Labour Organization (ILO), as well as the UN Guiding Principles on Business and Human Rights (UNGP) and the OECD Guidelines for Responsible Business Conduct. Patria is committed to the Science Based Target initiative, and SBTi has approved its emission reduction targets (Scope 1, 2 and 3) for 2030. Patria is a member of several sustainability responsibility and compliance networks, such as Global Compact, FIBS and TRACE, and develops best practices in export control and sanctions in cooperation with partners.
Patria is a modern and international defence and technology company with over 100 years of experience. Through our top-notch experts and Protected Mobility, Defence and Weapon Systems and Sustainment Solutions business areas, we ensure reliable operations for our customers and serve as a partner in critical functions on land, sea and air - when if is not an option. Patria has offices in Finland, Sweden, Norway, Belgium, the Netherlands, Germany, Slovakia, Poland, Latvia, and Japan.
Patria is owned by the Finnish state (50.1%) and Norwegian Kongsberg Defence & Aerospace AS (49.9%). Patria owns 50% of Nammo, and together these three companies form a leading Nordic defence partnership. Patria’s ownership structure is described in the annual report. Up-to-date information can also be found on Patria’s website on About us in the company’s basic information section.
Patria’s approach to sustainability is closely linked to its mission: to guarantee and develop security of supply, and to deliver reliable defence and security solutions on land, at sea, in the air and in the network. Patria’s sustainability work is guided by the principles set out in its sustainability programme.
Patria supplies defence products to the Finnish Defence Forces and to international customers for whom sales are permitted on the basis of export licences granted by the competent authorities. The export of defence products always requires an authorisation, and each country and customer is assessed on a case-by-case basis in accordance with applicable export control legislation.
Patria promotes open positions on its careers website. Vacancies can be applied for by completing the application form linked to the respective position. Patria also welcomes open applications, which can be submitted via dedicated forms available on the careers site.
Patria promotes employee safety and good working conditions through a wide range of measures and by fostering a strong safety culture. Patria operates in accordance with a zero accidents principle, and all employees are encouraged to systematically make safety observations. Working conditions and employee wellbeing are further supported by concrete benefits and structures, such as a renewed recognition model, Epassi benefits for wellbeing and leisure activities, and a comprehensive onboarding programme for all new Patria employees.
Patria is committed to high standards of business ethics throughout the value chain. Patria applies a strict zero-tolerance policy towards corruption and bribery and complies rigorously with export control legislation and international sanctions regimes. Patria’s Code of Conduct, complemented by specific policies and training, ensures ethical decision-making and responsible conduct across the organisation and in cooperation with third parties.
Russia's aggressive invasion of Ukraine has permanently changed Europe's security environment and emphasized the importance of national defence, alliances and security of supply.
In many countries, defence budgets have been increased, and at NATO's Hague summit in 2025, member states committed to raising defence investments so that by 2035, at least 5% of GDP is spent annually on them. Of this, 3.5% is directed to NATO-defined defence spending to meet performance targets, and up to 1.5% can be counted for broader measures to strengthen security, such as protecting critical infrastructure, resilience, innovation and developing the defence industrial base.
Although the direction is better, decision-making in some countries is progressing too slowly. Defence capability has been strengthened most determinedly in Russia's neighbouring areas, such as the Nordics, Baltics and Poland. Growing the defence industry requires significant capital and a long-term outlook for demand: companies cannot increase production without binding government procurement decisions and predictability. However, European defence markets are clearly growing, initially especially due to demand for ammunition and subsequently because of assessments of equipment sufficiency and condition. This also increases interest in Finnish operators and products, and Finland's NATO membership strengthens the sector's appeal.
In the long run, strengthening defence requires both traditional equipment and new capabilities, where technology more advanced than the opponent's is highlighted. Therefore, research, product development and joint development projects are central. Defence has also risen onto the EU agenda: the Commission's ReArm Europe initiative aims to mobilise up to €800 billion for defence investments. Member states may temporarily deviate from EU financial rules to increase their defence spending (up to 1.5% of GDP annually until 2028), and new financing mechanisms are being introduced, such as a €150 billion instrument for joint procurements, for example in air defence, ammunition production, drones and military mobility.
Additionally, EU programmes such as EDIP and EDF support industry, joint procurements, research and innovation. European joint projects, such as the CAVS and FAMOUS vehicle projects led by Finland and Patria, demonstrate that cooperation brings added value to participants and strengthens Europe's self-sufficiency in defence.
Patria has clarified its growth strategy because the demand for the defence sector and the operating environment have changed rapidly since the original strategy work, which extended to 2025.
The strategy update in March 2025 aims for continued strong growth and the ability to respond more efficiently to growing demand. The central change is a shift to a new operating model, in which the company operates based on three profit-responsible business areas and supporting functions. The underlying idea is that strong growth requires more unified and consistent management, more efficient operational activities and quicker decision-making, so that both current and new orders can be delivered reliably while improving profitability at the same time.
The cornerstones of the clarified strategy are growth and profitability, as well as technology, people, sustainability and compliance. Patria’s basic task remains ensuring and developing Finland’s security of supply, but the company also builds European security of supply, for example through technology transfers to customer countries, and seeks growth from international markets and new customer groups.
The drivers of growth are the strong increase in defence investments nationally and in the EU, as well as growing demand for defence solutions and supplies, accelerated by the effects of Russia's war of aggression, the emphasis on regional and Arctic defence and Finland's and Sweden's NATO membership.
Growth in investments alone does not guarantee success: growth requires competitive products and services that meet customers' needs, as well as the ability to succeed in tough international competition. Patria's order book is growing especially in armoured vehicle projects, and there is also interest in weapon systems and electronic intelligence and surveillance solutions. As customers increasingly emphasise ready, integrated system solutions, Patria is developing product development and processes to be faster, utilising cooperation ecosystems and offering not only deliveries but also lifecycle maintenance and support services.
