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 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 ...
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 ...
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” 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 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...
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 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...
EME Equity Market – July 2025 EME indices all in the green in July. The MSCI EM Europe Index advanced by 6.0% mom in EUR terms and 3.0% in USD terms. The Turkish ISE30 was, once again, the top performer, adding 7.9% mom in EUR terms, followed very closely by the Romanian BET, advancing 7.8% mom in EUR terms. The Greek ASE added 6.8% mom in EUR terms, while the Czech PX added 4.5% mom in EUR terms. The Hungarian BUX and Polish WIG20 added 3.6% and 3.0% mom, respectively, in EUR terms.
HEADLINES: • Santander Bank Polska: 2Q25 results – solid dividend flow expected • Raiffeisen Bank International: 2Q25 results • Tupras: 2Q25 results – EBITDA beats expectations POSITIVE • Akbank: 2Q25 highlights – guidance downgrade, but probably not a surprise for the market NEUTRAL • Otokar: 1H25 inflation-adjusted financials • Theon International: 1H25 trading update POSITIVE • Titan: weak 2Q25 results for Titan America, but guidance remains unchanged NEGATIVE • ADNOC Drilling: 2Q25 results –...
THEON expands global footprint by establishing Theon Belgium and investing in ANDRES PRESS RELEASE Bloomberg (THEON:NA) / Reuters (THEON.AS) THEON announces formation of Theon Belgium subsidiary and establishment of new facilities in Belgium.Minority stake acquisition in Andres Industries to expand European presence and enhance digital/thermal capabilities. 29 July 2025 - is pleased to announce the formation of its 100% owned subsidiary, Theon Belgium. This strategic move follows the growing global traction of its A.R.M.E.D. product series and the high growth prospects for this line o...
THEON presents its H1 2025 Trading Update PRESS RELEASE Bloomberg (THEON:NA) / Reuters (THEON.AS) 28 July 2025 - (AMS: THEON) is today providing its H1 2025 Trading Update ahead of publishing its H1 2025 Report on 2 September 2025. H1 2025 performance was characterised by robust order intake, achievement of financial targets and solid progress in THEON’s growth strategy. Financial Summary (Amounts in €)H1 2025H1 2024ChangeOrder intake167.9 m77.0 m+118.1%Revenue183.7 m152.4 m+20.6%Adjusted EBIT147.4 m (45.9 m)38.1 m (36.9 m)+24.4%Adjusted EBIT margin125.8% (25.0%)25.0% (24.2%)+0.8 p.p....
THEON accelerates strategic expansion in the Baltic Region PRESS RELEASE Bloomberg (THEON:NA) / Reuters (THEON.AS) 4 July 2025 – , a leading global manufacturer of night vision and thermal imaging systems, today announces a significant acceleration of its strategic footprint in the Baltic defense market through a renewed collaboration in Estonia and a pivotal investment in Latvia. These moves underscore THEON's commitment to enhancing European defense resilience and strategic autonomy. Firstly, THEON proudly announces the continuation of its collaboration with the Estonian Center for D...
THEON receives a new order from a Northern European country for the thermal clip-on IRIS -C and swiftly converts soft backlog to hard backlog PRESS RELEASE Bloomberg (THEON:NA) / Reuters (THEON.AS) New order for several THEON IRIS-C thermal clip-on units, intended to equip the Special Forces of a Northern European countryIRIS-C is gaining strong traction amongst customers globally and is expected to become the new reference product for upgrading NVGsc.€66 million of already announced orders have moved to hard backlog in the last 15 days, involving mainly THEON’s new digital A.R.M.E.D. p...
EME Equity Market – June 2025 All EME indices in the green in June, with a rebound in Türkiye. The MSCI EM Europe Index advanced by 3.2% mom in EUR terms and 6.9% in USD terms. The Turkish ISE 30 Index was the best performer in our region, recouping the losses from the previous month and adding +6.6% mom in EUR terms. The Hungarian BUX and the Polish WIG indices added 3.1% and 2.8% mom in EUR terms, respectively, followed closely by the Romanian BET and the Greek ASE, with both adding 2.0% mom i...
Following its recent ABB (3 June) and FY24 AGM (5 June), when some important resolutions were approved, we take a look at the near-term catalysts for Theon International’s (Theon) shares and we reiterate our BUY rating. We believe that the company’s rich list of catalysts in 2H25E, including new contracts news, potential M&A deals, and the launching of a share repurchase programme (approved during the FY24 AGM), may provide tailwinds for a further rerating of the stock. Theon’s shares are up 143...
THEON secures c.€50 million new orders, directing revenue guidance to the upper range (€430 million) PRESS RELEASE Bloomberg (THEON:NA) / Reuters (THEON.AS) Most new orders to be delivered in FY 2025Total order intake in FY 2025 already surpassed €160 million, with additional embedded options of c.€100 millionIncreased traction for digital products is expected to lead to further new orders soon 23 June 2025 – announces new order intake of c.€50 million. These orders consist of a balanced selection of products and originate from various small tenders and direct orders, primarily in Eur...
Results of Venetus’ proposed placing of shares in Theon International to strengthen the free float and liquidity of the stock PRESS RELEASE Bloomberg (THEON:NA) / Reuters (THEON.AS) 4 June 2025 - Theon International Plc (“Theon” or the “Company”) has been informed that its shareholder Venetus Limited (“Venetus”) (whose shares are primarily held by key executives of Theon Group and Theon CEO, Christianos Hadjiminas), has successfully completed the sale of approximately 3.73 million shares in Theon equal to approximately 5.3% of the share capital of the Company (the “Placing”). The final ...
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 ...
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