reports
THEON announces a new order for Night Vision Goggles worth over €100 m...
THEON announces a new order for Night Vision Goggles worth over €100 million, increasing backlog to c.€700 million PRESS RELEASE Bloomberg (THEON:NA) / Reuters (THEON.AS) 4 November 2025 – Theon International Plc (THEON) secured a new order worth over €100 million from a European NATO member state as part of the €300 million framework agreement announced on 17 October. This first tranche of this agreement requires the delivery of several thousands Night Vision Goggles (NVGs), monoculars and binoculars. The deliveries are evenly scheduled for 2026, 2027 and 2028. Additional orders are ex...
- Research Team
WOOD Daily: THEON NA; OTKAR TI; TOASO TI; HSBK LI; CIS+ Macro; BRISA T...
HEADLINES: • Theon International: 3Q25 trading update – strong execution, guidance upgraded POSITIVE • Otokar: 3Q25 results – weak EBITDA, low quality bottom-line beat NEGATIVE • Tofas: 3Q25 results miss expectations NEGATIVE • Halyk Bank: controlling shareholder ALMEX announces intention to dispose of stake NEGATIVE • CIS+ macro: on the ground in Central Asia – reform stories enter the next phase • Brisa: guiding lower for FY25E revenues growth, but higher for EBITDA margin NEUTRAL • CEZ: natio...
CEZ CEZ AS
BRISA BRISA-BRIDGESTONE SABANCI LASTIK SANAYI VE TICARET A.S.
OTKAR OTOKAR OTOMOTIV VE SAVUNMA SANAYI A.S.
CPS CYFROWY POLSAT SA
GPW WARSAW STOCK EXCHANGE
WPL WIRTUALNA POLSKA HOLDING SA
TLV BANCA TRANSILVANIA S.A.
H4L1 HALYK SAVINGS BANK OF KAZAKHSTAN GDR
TOFAS TOFAS TURK OTOMOBIL FABRIKASI A.S.
IGN1L IGNITIS GRUPE
THEON THEON INTERNATIONAL PLC
THEON announces Q3 2025 Trading Update and FY 2026 Revenue Target
THEON announces Q3 2025 Trading Update and FY 2026 Revenue Target PRESS RELEASE Bloomberg (THEON:NA) / Reuters (THEON.AS) 3 November 2025 – (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 ...
- Research Team
The Rear-View Mirror – EME markets: Hungarian BUX in the lead in Octob...
EME Equity Market – October 2025 Hungarian BUX leads in October, Türkiye and Greece lag. The MSCI EM Europe Index added 3.5% mom in EUR terms and 1.8% mom in USD terms in October. The Hungarian BUX was the top performer, adding 9.1% mom in EUR terms; followed by the Polish WIG20 (+5.9% mom) and the Romanian BET (+5.4% mom) (in EUR terms). The Czech PX was also in the green (+2.8% mom in EUR terms). The Greek ASE and the Turkish ISE30 (-1.9% mom and -1.1% mom, in EUR terms, respectively) both los...
EUROB EUROBANK ERGASIAS SERVICES & HOLDINGS SA
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.
EXAE HELLENIC EXCHANGES SA
MOL MOL NYRT
EBS ERSTE GROUP BANK AG
CEZ CEZ AS
ACP ASSECO POLAND SA
HTO HELLENIC TELECOMMUNICATIONS ORGANIZATION SA
RBI RAIFFEISEN BANK INTERNATIONAL AG
YKBNK YAPI VE KREDI BANKASI A.S.
OMV OMV AG
KOMB KOMERCNI BANKA A.S.
TITK TITAN CEMENT CO. SA
WIZZ WIZZ AIR HOLDINGS PLC
PZU POWSZECHNY ZAKLAD UBEZPIECZEN SPOLKA AKCYJNA
SPL SANTANDER BANK POLSKA SA
MIL BANK MILLENNIUM SA
BSK ING BANK SLASKI S.A.
BDX BUDIMEX S.A.
KTY GRUPA KETY SA
TPS ORANGE POLSKA S.A.
PKN POLSKI KONCERN NAFTOWY ORLEN S.A.
MYTIL MYTILINEOS S.A.
SAR GR. SARANTIS S.A.
AKBNK AKBANK TAS
AKCNS AKCANSA CIMENTO
BRISA BRISA-BRIDGESTONE SABANCI LASTIK SANAYI VE TICARET A.S.
CIMSA CIMENTO SANYAI VE TICARET A.S.
CCC CCC SA
GTC GLOBE TRADE CENTRE S.A.
DOM DOM DEVELOPMENT SA
RBW RAINBOW TOURS S.A.
ENA ENEA S.A.
PGE PGE POLSKA GRUPA ENERGETYCZNA S.A.
TKNSA TEKNOSA IC VE DIS TICARET AS
PGSUS.E PEGASUS HAVA TASIMACILIGI AS
LVC LIVECHAT SOFTWARE SA
TPEIR PIRAEUS BANK SA
CAR INTER CARS S.A.
ARCLK ARCELIK A.S.
THYAO TURK HAVA YOLLARI A.O.
TUPRS TURKIYE PETROL RAFINERILERI A.S.
CPS CYFROWY POLSAT SA
MBR MO-BRUK S.A.
11B 11 BIT STUDIOS S.A.
TPE TAURON POLSKA ENERGIA S.A.
DAT DATAWALK SA
ALR ALIOR BANK SA
OTOEL AUTOHELLAS S.A.
VGO VIGO SYSTEM SA
SAB1L SIAULIU BANKAS
BRD BRD-GROUPE SOCIETE GENERALE
TLV BANCA TRANSILVANIA S.A.
MONET MONETA MONEY BANK AS
SNP PETROM S.A.
TOFAS TOFAS TURK OTOMOBIL FABRIKASI A.S.
DIGI DIGI COMMUNICATIONS NV
SFG SPHERA FRANCHISE GROUP SA
ADNOCDIST ADNOC DISTRIBUTION PJSC
CGEO GEORGIA CAPITAL
ESLT ELBIT SYSTEMS LTD
KAP NATIONAL ATOMIC COMPANY KAZATOMPROM
TEN TEN SQUARE GAMES
DUNAHOUSE DUNA HOUSE
HUGE HUUUGE
4IG 4IG NYRT
WPS W.A.G PAYMENT SOLUTIONS PLC
CTPNV KAZMUNAYGAS NC JSC
ADNOCDRILL CTP NV
2381 ADNOC DRILLING CO
7202 ARABIAN DRILLING CO.
9526 ARABIAN INTERNET & COMMUNICATIONS SERVICES CO
ELPE JAHEZ INTERNATIONAL CO
BOROUGE HELLENIQ ENERGY
H2O BOROUGE
AQ HIDROELECTRICA S.A.
THEON AQUILA PART PROD COM
AIRA THEON INTERNATIONAL PLC
GEV AIR ASTANA JSC
NOVAL GEVORKYAN A.S.
ZAB NOVAL PROPERTY
DSPW ZABKA GROUP
DIAG DOOSAN SKODA POWER A.S.
DIAGNOSTYKA SA
- Research Team
WOOD Morning (20 October 2025)
HEADLINES: • Raiffeisen Bank International: material upside locked up in Russia (stays BUY) • Theon International: secures EUR 300m long-term supply agreement with a NATO country POSITIVE • Motor Oil Hellas: to receive an extra EUR 39m from its investment in Ellaktor POSITIVE • EME Macro/Strategy: macro all-in-one (13-19 October) • Magyar Telekom: 3Q25E preview – 13% yoy EBITDA growth expected (due on 12 November) • Wirtualna Polska: 3Q25E preview – soft quarter, with 1% yoy pro-forma adjusted E...
THEON strengthens transatlantic defense cooperation at AUSA 2025, acce...
THEON strengthens transatlantic defense cooperation at AUSA 2025, accelerates U.S. expansion PRESS RELEASE Bloomberg (THEON:NA) / Reuters (THEON.AS) Washington, D.C. - October 16, 2025. , a global market leader in night vision and electro-optical systems, underscored its growing presence in the U.S. defense market through major commercial agreements, new product introductions, and stakeholder engagements at the Annual Exposition of the Association of the United States Army (AUSA), held in Washington, D.C. on October 13-15. THEON showcased its cutting-edge Night Vision, Thermal Imaging,...
THEON plans to acquire 9.8% stake in Exosens
THEON plans to acquire 9.8% stake in Exosens PRESS RELEASE Bloomberg (THEON:NA) / Reuters (THEON.AS) 11 October 2025 – has entered into a definitive agreement with HLD Europe SCA, Invest Prince Henri SCA and Invest Gamma Sarl, investment companies belonging to Groupe HLD (HLD), to purchase a 9.8% stake in Exosens SA (EXOSENS) for a cash consideration of €268.7 million corresponding to €54.0 per share. EXOSENS is a leading French company specializing in advanced electro-optical technologies, including light amplification, detection and imaging systems. Following the completion of the tra...
- Research Team
WOOD Daily: KRU PW; SNP RO; OMV AV; MIL PW; MUR PW; PL Macro; RO Macro...
HEADLINES: • Kruk: solid 3Q25 trading update, but still at a standstill in Spain NEUTRAL • OMV Petrom: 3Q25 trading statement POSITIVE • OMV: 3Q25 trading statement NEUTRAL • Bank Millennium: to book PLN 394m of FX mortgage saga provisions in 3Q25 NEUTRAL • Murapol: 734 apartments sold and 413 units handed over in 3Q25; 66% of our annual sales forecast met after 1-3Q25 NEGATIVE • Poland macro: NBP cuts again, on steady inflation • Romania macro: MPC on a prolonged pause • Theon International: si...
THEON signs a new €300 million Senior Facility Agreement
THEON signs a new €300 million Senior Facility Agreement PRESS RELEASE Bloomberg (THEON:NA) / Reuters (THEON.AS) 9 October 2025 – (THEON) has signed a new €300 million senior facility agreement with a syndicate of 9 leading international and Greek banks. The revolving credit facility has a tenor of 5 years and can be upsized, if required, to €400 million. The proceeds will be used for the refinancing of existing short-term debt, supporting general corporate purposes and possibly financing larger acquisitions. BNP Paribas acted as bookrunner and coordinator, with Commerzbank acting as...
- Research Team
The Rear-View Mirror – EME markets: Romanian BET in the lead in Septem...
EME Equity Market – September 2025 Romanian BET led in September, while Türkiye and Hungary lagged. The MSCI EM Europe Index added 0.7% mom in EUR terms and 1.1% in USD terms. The Romanian BET was the top performer, adding 3.6% in EUR terms; followed by the Czech PX (+3.2% mom) and the Polish WIG20 (+1.1% mom) (all in EUR terms); while there was a muted performance from the Greek ASE (+0.6% mom in EUR terms). The Turkish ISE30 and the Hungarian BUX were the worst performing indices in September(...
OPAP GREEK ORGANISATION OF FOOTBALL PROGNOSTICS SA
MOL MOL NYRT
CEZ CEZ AS
ACP ASSECO POLAND SA
HTO HELLENIC TELECOMMUNICATIONS ORGANIZATION SA
OMV OMV AG
TITK TITAN CEMENT CO. SA
BHW BANK HANDLOWY W WARSZAWIE S.A.
PZU POWSZECHNY ZAKLAD UBEZPIECZEN SPOLKA AKCYJNA
LAMDA LAMDA DEVELOPMENT S.A.
GEKTERNA GEK TERNA
KTY GRUPA KETY SA
MYTIL MYTILINEOS S.A.
SAR GR. SARANTIS S.A.
LPP LPP S.A.
ASELS ASELSAN ELEKTRONIK SANAYI VE TICARET A.S. CLASS B
CCC CCC SA
GTC GLOBE TRADE CENTRE S.A.
AEGN AEGEAN AIRLINES SA
RBW RAINBOW TOURS S.A.
ENA ENEA S.A.
PGE PGE POLSKA GRUPA ENERGETYCZNA S.A.
APR AUTO PARTNER SA
CAR INTER CARS S.A.
THYAO TURK HAVA YOLLARI A.O.
ECH ECHO INVESTMENT
MBR MO-BRUK S.A.
11B 11 BIT STUDIOS S.A.
TPE TAURON POLSKA ENERGIA S.A.
OTOEL AUTOHELLAS S.A.
VGO VIGO SYSTEM SA
BELA JUMBO S.A.
TLV BANCA TRANSILVANIA S.A.
SNG SOCIETATEA NATIONALA DE GAZE NATURALE ROMGAZ SA
SNP PETROM S.A.
PBK PATRIA BANK SA
TOFAS TOFAS TURK OTOMOBIL FABRIKASI A.S.
DIGI DIGI COMMUNICATIONS NV
TGN SOCIETATEA NATIONALA DE TRANSPORT GAZE NATURALE TRANSGAZ S.A.
MAVI MAVI GIYIM SANAYI VE TICARET A.S.
R22 R22
ADNOCDIST ADNOC DISTRIBUTION PJSC
CGEO GEORGIA CAPITAL
EAT AMREST HOLDINGS SE
CZG CESKA ZBROJOVKA GROUP
DUNAHOUSE DUNA HOUSE
INPST INPOST S.A.
HUGE HUUUGE
WPS W.A.G PAYMENT SOLUTIONS PLC
PCO PEPCO GROUP NV
CTPNV CTP NV
VRC VERCOM SA
BCG BALTIC CLASSIFIEDS GROUP PLC
7202 ARABIAN INTERNET & COMMUNICATIONS SERVICES CO
9526 JAHEZ INTERNATIONAL CO
ELPE HELLENIQ ENERGY
SHO SHOPER SA
MUR2 MURAPOL SA
TRESTATES TRADE ESTATES REIC SA
THEON THEON INTERNATIONAL PLC
AIRA AIR ASTANA JSC
GEV GEVORKYAN A.S.
NOVAL NOVAL PROPERTY
BOCHGR BANK OF CYPRUS
ZAB ZABKA GROUP
DSPW DOOSAN SKODA POWER A.S.
DIAG DIAGNOSTYKA SA
PE RO PREMIER ENERGY
- Research Team
WOOD Daily: PCO PW; BELA GA; THEON NA; Czech Republic macro; EWG LN; P...
HEADLINES: • Pepco: lfl recovery continued in 4Q25, with Poland falling behind W. Europe; another EUR 50m buyback announced POSITIVE • Jumbo: 1H25 earnings slightly lower than expected - adj. EBITDA +7% yoy to EUR 165m NEGATIVE • Theon International: wins another sizeable OCCAR contract POSITIVE • Czech Republic macro: CNB on hold • Eurowag: TA Associates completes GBP 56m ABB • PZU: new acting CEO appointed, pending PFSA approval NEUTRAL • Banca Transilvania: proposes an extraordinary DPS of RO...
THEON signs a sizeable new contract with OCCAR for its new generation ...
THEON signs a sizeable new contract with OCCAR for its new generation thermal clip-on IRIS-C PRESS RELEASE Bloomberg (THEON:NA) / Reuters (THEON.AS) Initial order through OCCAR of c.€50 million, with embedded option of €150 million IRIS-C gaining strong traction among existing and new customers globally, expected to become the new reference product for upgrading NVGsTHEON successfully expanding its overall addressable market with its new cutting-edge Thermal/ Digital products, which are expected to represent c.20% of total revenues in 2026 and increase further from 2027 onwards 24 Sept...
THEON INTERNATIONAL launched in DSEI London 2025 the Production-Ready ...
THEON INTERNATIONAL launched in DSEI London 2025 the Production-Ready NYX-BiNOD, a U.S. Army Specification-Compliant Night Vision Binocular PRESS RELEASE Bloomberg (THEON:NA) / Reuters (THEON.AS) London, 12 September 2025 - (AMS: THEON) a global leader in the design and manufacturing of cutting-edge night vision and thermal imaging systems for defense and security applications, announced at the DSEI London 2025 Exhibition (booth #N2-320), the launch of its new NYX-BiNOD, a state-of-the-art night vision binocular. The system is engineered to fully comply with the demanding specifica...
THEON INTERNATIONAL publishes its H1 2025 Report
THEON INTERNATIONAL publishes its H1 2025 Report PRESS RELEASE Bloomberg (THEON:NA) / Reuters (THEON.AS) 02 September 2025 - (AMS: THEON) is pleased to announce the publication of its H1 2025 Report for the six months ended 30 June 2025. This follows the H1 2025 Trading Update published on 28 July 2025. The Company is holding a webcast for analysts and investors on September 4, 2025 at 3:00 PM EEST (1:00 PM BST). The webcast details are accessible . H1 2025 Overview H1 2025 performance was characterised by robust order intake, achievement of financial targets and solid progress in ...
- Research Team
The Rear-View Mirror – EME markets: Poland – worst performer in August
EME Equity Market – August 2025 Corrections in Poland and the broader MSCI EM Europe. The MSCI EM Europe Index declined by 2.3% mom in EUR terms and was flat (0.0%) in USD terms in August. The Hungarian BUX was the top performer, adding 2.2% mom in EUR terms, followed by the Romanian BET (+1.9% mom), the Czech PX (+1.7% mom) and the Greek ASE (+1.4% mom) (all in EUR terms); while there was a muted performance from the Turkish ISE 30 (+0.4% mom in EUR terms). The biggest loser was the Polish WIG ...
JMT JERONIMO MARTINS SGPS S.A.
KRU KRUK S.A.
MOL MOL NYRT
EBS ERSTE GROUP BANK AG
CEZ CEZ AS
ACP ASSECO POLAND SA
HTO HELLENIC TELECOMMUNICATIONS ORGANIZATION SA
CDR CD PROJEKT S.A.
PKO PKO BANK POLSKI S.A.
ISCTR TURKIYE IS BANKASI ANONIM SIRKETI CLASS C
BHW BANK HANDLOWY W WARSZAWIE S.A.
BIMAS BIM BIRLESIK MAGAZALAR A.S.
WIZZ WIZZ AIR HOLDINGS PLC
PZU POWSZECHNY ZAKLAD UBEZPIECZEN SPOLKA AKCYJNA
BDX BUDIMEX S.A.
LAMDA LAMDA DEVELOPMENT S.A.
GEKTERNA GEK TERNA
MTELEKOM MAGYAR TELEKOM TELECOMMUNICATIONS
DOC DO & CO AKTIENGESELLSCHAFT
TPS ORANGE POLSKA S.A.
CAI CA IMMOBILIEN ANLAGEN AG
PKN POLSKI KONCERN NAFTOWY ORLEN S.A.
AKCNS AKCANSA CIMENTO
ASELS ASELSAN ELEKTRONIK SANAYI VE TICARET A.S. CLASS B
BRISA BRISA-BRIDGESTONE SABANCI LASTIK SANAYI VE TICARET A.S.
CIMSA CIMENTO SANYAI VE TICARET A.S.
LOGO LOGO YAZILIM SANAYI VE TICARET A.S.
CCC CCC SA
CCOLA COCA-COLA ICECEK A.S.
DOM DOM DEVELOPMENT SA
RBW RAINBOW TOURS S.A.
ENA ENEA S.A.
BFT BENEFIT SYSTEMS S.A. ALLOTMENT
MGROS MIGROS TICARET A.S
PGSUS.E PEGASUS HAVA TASIMACILIGI AS
LVC LIVECHAT SOFTWARE SA
TBCB TBC BANK JOINT STOCK CO
OTP OTP BANK NYRT
CAR INTER CARS S.A.
THYAO TURK HAVA YOLLARI A.O.
TUPRS TURKIYE PETROL RAFINERILERI A.S.
EUR EUROCASH S.A.
ECH ECHO INVESTMENT
GSPARK GRAPHISOFT PARK SE
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.
DAT DATAWALK SA
ALR ALIOR BANK SA
OTOEL AUTOHELLAS S.A.
VGO VIGO SYSTEM SA
WPL WIRTUALNA POLSKA HOLDING SA
BELA JUMBO S.A.
TLV BANCA TRANSILVANIA S.A.
SNG SOCIETATEA NATIONALA DE GAZE NATURALE ROMGAZ SA
H4L1 HALYK SAVINGS BANK OF KAZAKHSTAN GDR
DIGI DIGI COMMUNICATIONS NV
DNP DINO POLSKA S.A.
BVB S.C. BURSA DE VALORI BUCURESTI S.A.
GEB BANK OF GEORGIA
RICHT RICHTER
19XX NEPI ROCKCASTLE PLC
M MED LIFE
SFG SPHERA FRANCHISE GROUP SA
CGEO GEORGIA CAPITAL
SOKM SOK MARKETLER TICARET AS
NLBR NLB GROUP
ESLT ELBIT SYSTEMS LTD
KAP NATIONAL ATOMIC COMPANY KAZATOMPROM
TEN TEN SQUARE GAMES
ALG ALLEGRO.EU SA
CZG CESKA ZBROJOVKA GROUP
DUNAHOUSE DUNA HOUSE
KSPI KASPI KZ
HUGE HUUUGE
4IG 4IG NYRT
IGN1L IGNITIS GRUPE
PCO PEPCO GROUP NV
CTPNV KAZMUNAYGAS NC JSC
GPP CTP NV
KLKIM GRUPA PRACUJ DA
GIG KALEKIM KIMYEVI MADDELER SANAYI VE TICARET AS
2381 GAMING INNOVATION GROUP
7202 ARABIAN DRILLING CO.
9526 ARABIAN INTERNET & COMMUNICATIONS SERVICES CO
ELPE JAHEZ INTERNATIONAL CO
4071 HELLENIQ ENERGY
ACAG ARABIAN CONTRACTING SERVICES CO
7203 AUSTRIACARD HOLDINGS AG
OPTIMAr ELM CO
AQ OPTIMA BANK S.A.
THEON AQUILA PART PROD COM
AIRA THEON INTERNATIONAL PLC
GEV AIR ASTANA JSC
BOCHGR GEVORKYAN A.S.
ZAB BANK OF CYPRUS
ALPHA ZABKA GROUP
PE RO ALPHA BANK S.A.
PREMIER ENERGY
THEON resolves on share buyback
THEON resolves on share buyback PRESS RELEASE Bloomberg (THEON:NA) / Reuters (THEON.AS) 01 September 2025 – will begin a buyback of ordinary shares for the purpose of fulfilling obligations under a planned long-term employee incentive plan to be put in place by the company. The initiation of the program follows the shareholders’ approval at the General Meeting of THEON held on 5th of June 2025, resolving on the buyback of up to 1,400,000 ordinary shares until the 5th of June 2026. THEON further decided on the implementation of a share liquidity plan. Venetus Limited, majority sharehol...
Notice of THEON’s Capital Markets Day “THEON NEXT”
Notice of THEON’s Capital Markets Day “THEON NEXT” PRESS RELEASE Bloomberg (THEON:NA) / Reuters (THEON.AS) 29 August 2025 – is pleased to provide further details of its forthcoming Capital Markets Day (CMD) at which it will showcase its future growth drivers and strategy, the “THEON Next” Vision & Strategy. This encapsulates THEON’s ambition of becoming a trusted market leader in the next generation of optronics and a global player in the modern warfare era. The CMD will be held on 6 November 2025 in Athens, Greece, at Divani Apollon Palace & Thalasso at 3:00 pm local time and be host...
THEON announces new strategic US and European investments and partners...
THEON announces new strategic US and European investments and partnerships to build global leadership in Digital and Augmented Reality defense optronics domain under the THEON NEXT initiative PRESS RELEASE Bloomberg (THEON:NA) / Reuters (THEON.AS) Strategic Investment and Partnership with KOPIN Corporation - Augmented Reality System DevelopmentLong-Term Supply Agreement with eMagin Corporation – OLED DisplaysStrategic Industrial Partnership with ALEREON – Wireless CommunicationExtending AR-MR-VR Capability via Investment in VARJO 11 August, 2025 – (THEON) is proud to announce new stra...
- Research Team
WOOD Daily: CCOLA TI; OTP HB; KSPI US; ELM AB; THEON NA; TITC GA; ALE ...
HEADLINES: • Coca-Cola Icecek: recovery on the horizon (stays BUY) • OTP Bank: books solid 2Q25 NEUTRAL • Kaspi.kz: 2Q25 highlights – on track, with revised down guidance, could start buying back stock in 2026E • Elm: 2Q25 conference call takeaways – organic growth guidance upgraded POSITIVE • Theon International: to acquire KAPPA Optronics of Germany POSITIVE • Titan: to acquire 80% of leading concrete solutions provider in Southeastern Europe with Molins POSITIVE • Allegro: buyback price of PL...
THEON acquires 100% of Germany-based Kappa Optronics, the fourth conse...
THEON acquires 100% of Germany-based Kappa Optronics, the fourth consecutive defense industrial investment in Germany, strengthening global footprint on electro-optic platform-based products PRESS RELEASE Bloomberg (THEON:NA) / Reuters (THEON.AS) 4 August 2025 – is pleased to announce the acquisition of 100% of Kappa Optronics GmbH (KAPPA), a Germany-based specialist in aviation and land optronics, for an Enterprise Value of €75 million, at an accretive multiple. The transaction will be financed through a mix of debt and IPO proceeds. Founded in 1978 and headquartered in Göttingen, Ge...
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