THEON THEON INTERNATIONAL PLC

THEON’s strong presence at the international exhibition IDEX 2025 in Abu Dhabi, presenting its new A.R.M.E.D. ecosystem of Augmented Reality devices for the “Soldier of the Future”

THEON’s strong presence at the international exhibition IDEX 2025 in Abu Dhabi, presenting its new A.R.M.E.D. ecosystem of Augmented Reality devices for the “Soldier of the Future”

Press Release

Bloomberg (THEON:NA) / Reuters (THEON.AS)

 

25th February 2025. THEON's participation in the IDEX-NAVDEX 2025 (International Defense Equipment Exhibition) held in Abu Dhabi, United Arab Emirates, on 17-21 February 2025, was completed with a strong presence.

At THEON's stand at IDEX-NAVDEX 2025, which is characterized as one of the largest international exhibitions in the field of defense and security, the integrated solution of the A.R.M.E.D. ecosystem of connected devices had a dominant position, apart from the company's already best-selling night vision and thermal imaging systems. THEON presented its new Augmented Reality Modular Ecosystem of Devices (A.R.M.E.D.), in partnership with its subcontractor software company SCYTALYS, as its proposal for the "Soldier of the Future".

The A.R.M.E.D. ecosystem of devices is an integrated system that radically upgrades the capabilities of the modern fighter, increasing tactical situational awareness, effectiveness, and survivability.

The A.R.M.E.D. ecosystem today includes the following devices:

1.   THEON 's integrated fused night vision binocular “ORION" which provides a fused intensified and thermal image in one integrated device and thus enables the modern fighter with better detection capabilities even under adverse light conditions while also being able to provide critical augmented reality information directly in the user's field of view.



2.   As an alternative to ORION and following a modular approach that allows upgrades of existing night vision equipment, THEON presents its thermal Clip-on device "IRIS-C", which can be mounted on all THEON night vision goggles such as the MIKRON, NYX or ARGUS, but also on any other night vision goggle in the market. Similar to the ORION, the IRIS provides fused imagery and can display critical augmented reality data to the user, such as friend and foe recognition or target recognition and marking.



3.   For daytime use, THEON offers the state-of-the-art Heads-Up Display "THEA", which displays the same tactical augmented reality data and any video input coming, for example, from any other available electro-optical sensors.



4.   All the above devices are connected to THEON's  Smart Battery Pack (SBP) or, alternatively, to its Smart Gateway, which are the power/processing units that interface with the Battle Management System (BMS).



The A.R.M.E.D. ecosystem can be connected to any Battle Management system. During IDEX, the A.R.M.E.D. ecosystem was displayed cooperating with the SCYTALYS’ MIMS Ranger and the SCYTALYS’ Combat Tablet, which is the size of a mobile phone and adapts to the user's protection carrier at chest level. Through such a tablet, the fighter can operate the BMS and select the type of data displayed in the A.R.M.E.D. devices. 

The success of the new ecosystem of connected A.R.M.E.D. devices was confirmed following recent announcements of new orders totaling €53mio, with the bulk of these new orders coming from the German Army as part of the ongoing "Soldier of the Future" (IdZ) program. These orders concerned THEON's new Heads-Up Display system "THEA" and the Smart Gateway, both part of the above A.R.M.E.D. product line, demonstrating the international lead of the new ecosystem of devices and underlining its potential for significant new sales in this segment. THEON expects further orders from countries that have enacted such “Soldier of the Future” programs.

Philippe Mennicken, Business Development Director at THEON, said: "THEON continues to lead the way, setting new standards for the “Soldier of the Future” and enhancing the capabilities of modern military forces worldwide. The tremendous reception of our A.R.M.E.D. ecosystem of devices at IDEX confirms the need of today’s soldiers for better imagery and enhanced situational awareness. THEON is once more leading the way in this field, which is also demonstrated by our strong recent order intake".

THEON presented the A.R.M.E.D. ecosystem, in partnership with SCYTALYS, as its proposal for the "Soldier of the Future”

                   The ORION fused goggle, part of the A.R.M.E.D. ecosystem

                        The Greek Minister of Defense, Nikos Dendias, during his visit to THEON’s booth. THEON also welcomes Mr. Ali Al Ashban, CEO of NCMS, and Mr Fahad Alessa, Chief Commercial & Product Development Officer of NCMS. THEON shares a long-standing strategic relationship with NCMS

        Photo from THEON’s booth in IDEX 2025

Photo from THEON’s booth in IDEX 2025 with TALOS SR in the foreground, an advanced ISR (Intelligence, Surveillance & Reconnaissance) solution tailored for land applications

 

#THEONInternational #NightVision #ThermalImaging #MilitaryTechnology #DefenseIndustry #NATO #SecurityForces

 

For more information, please contact:

Investor Relations:

Nikos Malesiotis

E-Mail:

Tel:
Media Contact:

Elli Michou

E-Mail:

Tel:

About THEON GROUP

THEON 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 200,000 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.

Attachment



EN
25/02/2025

Underlying

To request access to management, click here to engage with our
partner Phoenix-IR's CorporateAccessNetwork.com

Reports on THEON INTERNATIONAL PLC

Research Team
  • Research Team

The Rear-View Mirror – EME markets: EME indices mostly in the red in A...

EME Equity Market – April 2025 EME indices mostly in the red in April, Hungarian BUX and Greek ASE the exceptions. The MSCI EM Europe Index declined by 2.0% mom in EUR terms, but was up 2.9% mom in USD terms in April. The Hungarian BUX was the best performer, followed by the Greek ASE index (+3.5% and 0.8% mom in EUR terms, respectively). There was a slight decline in the Polish WIG20, and more pronounced deteriorations in the Romanian BET and Czech PX indices (-0.6%, -2.0% and -4.2% mom in EUR ...

GARAN TURKIYE GARANTI BANKASI ANONIM SIRKETI
PEO BANK POLSKA KASA OPIEKI SA
JMT JERONIMO MARTINS SGPS S.A.
OPAP GREEK ORGANISATION OF FOOTBALL PROGNOSTICS SA
KRU KRUK S.A.
MOL MOL NYRT
EBS ERSTE GROUP BANK AG
CEZ CEZ AS
KRKG KRKA D.D.
YKBNK YAPI VE KREDI BANKASI A.S.
OMV OMV AG
ISCTR TURKIYE IS BANKASI ANONIM SIRKETI CLASS C
KOMB KOMERCNI BANKA A.S.
TITK TITAN CEMENT CO. SA
SPL SANTANDER BANK POLSKA SA
MIL BANK MILLENNIUM SA
BDX BUDIMEX S.A.
GEKTERNA GEK TERNA
MTELEKOM MAGYAR TELEKOM TELECOMMUNICATIONS
KTY GRUPA KETY SA
DOC DO & CO AKTIENGESELLSCHAFT
TPS ORANGE POLSKA S.A.
PKN POLSKI KONCERN NAFTOWY ORLEN S.A.
MYTIL MYTILINEOS S.A.
LPP LPP S.A.
AKBNK AKBANK TAS
AKCNS AKCANSA CIMENTO
ASELS ASELSAN ELEKTRONIK SANAYI VE TICARET A.S. CLASS B
CIMSA CIMENTO SANYAI VE TICARET A.S.
CCC CCC SA
AEGN AEGEAN AIRLINES SA
ENA ENEA S.A.
BFT BENEFIT SYSTEMS S.A. ALLOTMENT
PGE PGE POLSKA GRUPA ENERGETYCZNA S.A.
TKNSA TEKNOSA IC VE DIS TICARET AS
PGSUS.E PEGASUS HAVA TASIMACILIGI AS
APR AUTO PARTNER SA
LVC LIVECHAT SOFTWARE SA
PPC PUBLIC POWER CORPORATION S.A.
OTP OTP BANK NYRT
CAR INTER CARS S.A.
ARCLK ARCELIK A.S.
FROTO FORD OTOMOTIV SANAYI A.S.
OTKAR OTOKAR OTOMOTIV VE SAVUNMA SANAYI A.S.
THYAO TURK HAVA YOLLARI A.O.
TUPRS TURKIYE PETROL RAFINERILERI A.S.
CPS CYFROWY POLSAT SA
MBR MO-BRUK S.A.
GPW WARSAW STOCK EXCHANGE
11B 11 BIT STUDIOS S.A.
TPE TAURON POLSKA ENERGIA S.A.
ALR ALIOR BANK SA
OTOEL AUTOHELLAS S.A.
VGO VIGO SYSTEM SA
WPL WIRTUALNA POLSKA HOLDING SA
SAB1L SIAULIU BANKAS
BRD BRD-GROUPE SOCIETE GENERALE
TLV BANCA TRANSILVANIA S.A.
MONET MONETA MONEY BANK AS
H4L1 HALYK SAVINGS BANK OF KAZAKHSTAN GDR
SNP PETROM S.A.
TOFAS TOFAS TURK OTOMOBIL FABRIKASI A.S.
DNP DINO POLSKA S.A.
RICHT RICHTER
MAVI MAVI GIYIM SANAYI VE TICARET A.S.
MCOV B MEDICOVER AB
KAP NATIONAL ATOMIC COMPANY KAZATOMPROM
TEN TEN SQUARE GAMES
CZG CESKA ZBROJOVKA GROUP
INPST INPOST S.A.
PCF PCF GROUP SA
HUGE HUUUGE
7202 ARABIAN INTERNET & COMMUNICATIONS SERVICES CO
4071 ARABIAN CONTRACTING SERVICES CO
BOROUGE BOROUGE
7203 ELM CO
TRESTATES TRADE ESTATES REIC SA
THEON THEON INTERNATIONAL PLC
GEV GEVORKYAN A.S.
BOCHGR BANK OF CYPRUS
DSPW DOOSAN SKODA POWER A.S.
DIAG DIAGNOSTYKA SA
Research Team
  • Research Team

WOOD Daily: THEON NA; KRU PW; SAB1L LH; MCOVB SS; OTKAR TI; TOASO TI; ...

HEADLINES: • Theon International: 1Q25 trading update – strong execution, rich options POSITIVE • Kruk: 1Q25 results, beat driven by Wonga, debt purchased segment in line, but slowing growth dynamics NEUTRAL • Siauliu Bankas: rather weak 1Q25, but maintained outlook should provide some support NEGATIVE • Medicover: 1Q25 beat on admin costs and other financial income POSITIVE • Otokar: 1Q25 results – continuing losses on the operating and bottom lines • Tofas: weak set of results in 1Q25, as anti...

 PRESS RELEASE

THEON presents its Q1 2025 Trading Update

THEON presents its Q1 2025 Trading Update Press Release Bloomberg (THEON:NA) / Reuters (THEON.AS)   28 April 2025 – today publishes its Q1 2025 Trading Update, achieving excellent performance and continued strong growth, in line with guidance. Financial Summary  Q1 2025Q1 2024ChangeOrder intake€117.9 m€39.0 m+202.3%Revenue€90.8 m€75.8 m+19.8%Adjusted EBIT€23.0 m€17.2 m+34.2%Adjusted EBIT margin25.3%22.6%+2.7 p.p.Earnings per share€0.25€0.18+38.9%Capex€3.3 m€2.5 m+33.7 %    Mar 2025Dec 2024ChangeSoft backlog€668.6 m€654.2 m+2.2%Net working capital€160.0 m€165.5 m-3.3%Net cash€61.2 m€41....

Research Team
  • Research Team

WOOD Daily: THEON NA; HUG PW; PGE PW; TPE PW; APR PW; INPST NA; DIA PW...

HEADLINES: • Theon International: Noctis in Dies* (BUY - initiation of coverage) • Huuuge Games: 4Q24 adjusted EBITDA 5% above our forecast, share buybacks not a priority NEUTRAL • PGE: key takeaways from the 4Q24 results call NEUTRAL • Tauron: key takeaways from the 4Q24 results call NEUTRAL • Auto Partner: earnings call takeaways – challenging 1Q25E, but rather optimistic on FY25E outlook NEUTRAL • InPost: acquisition of Yodel for GBP 106m debt swap NEUTRAL • Diagnostyka: 4Q24E preview – 35% y...

Atinc Ozkan ... (+2)
  • Atinc Ozkan
  • George Grigoriou

Theon International: Noctis in Dies* (BUY - initiation of coverage)

We initiate coverage of Amsterdam-listed Greek optronics company, Theon International Plc. (Theon) with a BUY and a 12M price target (PT) of EUR 37.60/share. Established in 1997, as a local supplier for the Greek defence market, Theon has evolved into the European market leader in military grade night vision (NV) and thermal imaging (TI) technologies, under the vision of its founder, Mr. Christianos Hadjiminas. As of 1Q25, the cumulative number of Theon’s optronic systems, delivered to 71 countr...

ResearchPool Subscriptions

Get the most out of your insights

Get in touch