PRESS RELEASE
Bloomberg (THEON:NA) / Reuters (THEON.AS)
3 November 2025 – Theon International Plc (THEON) publishes its Q3 2025 Trading Update, along with its FY 2026 Revenue Target.
Today, THEON increases FY 2025 revenue guidance to €435-445 million, higher than the initial guidance range of €410-430 million. Also, for the first time, THEON presents a revenue target for FY 2026, with revenue in the range of €570-590 million. The company targets at least 20% organic growth, with total growth of c.30% when factoring in the announced acquisition of Kappa Optronics.
Financial Summary
1 Reflects a change in accounting policy to include the Group’s share of profits from core equity- accounted investees within operating profit. 2 Excluding the share buyback liability of €3.5 million
Financial Highlights
Operational Highlights
Post Period End Highlights
Dimitris Parthenis, CFO of THEON, commented: “Our upgraded FY 2025 revenue outlook reflects our commitment to strong execution and timely deliveries, in response to sustained global demand, which is expected to increase our backlog. We look ahead, providing guidance with confidence, supported by both organic growth and the strategic acquisitions and investments completed recently, which have expanded our global footprint, capacity and capabilities. These investments are already fueling momentum. With this in mind, until the further integration of Harder Digital we do not restate our 2025 profit and margin guidance, but confirm that our ambitions remain unchanged in respect to a target of mid-twenties EBIT margin in the mid-term. Our financial flexibility keeps us well-positioned to scale further and continue creating long-term value.”
Guidance/ Targets
THEON’s Q3 2025 financial results are now available for download on the company’s website.
Capital Markets Day and Materials
As previously announced, THEON is holding a Capital Markets Day later this week on Thursday, November 6th in Athens to elaborate on the THEON NEXT Vision & Strategy. The event (in-person and virtual) will start at 3:00 pm local time and be hosted by the Executive Directors and wider Leadership Team. To enquire about the event, please e-mail cmd@theon.com.
All presentations and associated materials being used during the event, along with a recording of the event, will be made available on THEON’s website.
For inquiries, please contact:
About THEON GROUPTHEON GROUP of companies develops and manufactures cutting-edge night vision and thermal Imaging systems for Defense and Security applications with a global footprint. THEON GROUP started its operations in 1997 from Greece and today occupies a leading role in the sector thanks to its international presence through subsidiaries and production facilities in Greece, Cyprus, Germany, the Baltics, the United States, the Gulf States, Switzerland, Denmark, Belgium, Singapore and South Korea. THEON GROUP has more than 220,000 systems in service with Armed and Special Forces in 71 countries around the world, 26 of which are NATO countries. ΤΗΕΟΝ ΙΝΤΕRNATIONAL PLC has been listed on Euronext Amsterdam (AMS: THEON) since February 2024. www.theon.com
Forward-lookingstatementsThis announcement contains forward-looking statements that reflect THEON’s current views about future events. A forward-looking statement is any statement that does not relate to present or historical facts and events. Statements in this announcement containing information relating to, among other things, (i) THEON’s future earnings, cash flows, capex and profitability, (ii) THEON's plans, expectations and ambitions regarding its business, (iii) THEON's expectations and estimates around of its backlog and soft backlog, (iv) THEON’s strategy, including future strategic acquisitions and investments, and (v) future growth in the markets in which THEON operates are all examples of forward-looking statements. The words "will," "target," "aim," "ambition", "anticipate," "assume," "believe," "estimate," "expect," "intend," "may," "can," "could," "plan," "project," "should" and similar expressions are used to identify forward-looking statements. These statements are subject to many risks, uncertainties and assumptions. If any of these risks and uncertainties materializes or if the assumptions underlying any of THEON's forward-looking statements prove to be incorrect, the actual results may be materially different from those THEON expresses or implies by such statements. Forward-looking statements in this announcement are based solely on the circumstances at the date of publication.
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