Theon International PlcTHEON receives ~€70M new orders, including from Rheinmetall for Bundeswehr program, and expects further acceleration.
THEON International Plc announced total new order intake of approximately €70 million, with a significant portion coming from Rheinmetall for the Bundeswehr's Future Soldier program, including a new firm order and exercised options for products from its A.R.M.E.D ecosystem portfolio. Order intake accelerated in the second quarter to around €153 million, plus an additional €27 million in options, bringing year-to-date order intake to roughly €223 million with a further €68 million in options, figures that reflect the full consolidation of Kappa and Harder Digital order intake. THEON expects further acceleration in the second half of the year, mainly toward the end of the fourth quarter, and reiterated its guidance of maintaining an organic book-to-bill ratio above 1.0x for fiscal year 2026. The company also highlighted recent strategic moves, including a joint venture with Safran to enter drone technologies, in which THEON will hold a 51% stake with equal governance rights, and an initial agreement to acquire HGH Systèmes Infrarouges for an enterprise value of about €300 million, marking its entry into counter-drone systems.
Theon International PlcTHEON receives ~€70M new orders, including from Rheinmetall for Bundeswehr program, and expects further acceleration.
Safran SASafran enters a joint venture with THEON to develop drone technologies, with equal governance rights.
Rheinmetall AGRheinmetall is the customer placing orders for the Bundeswehr program, indicating demand for its products.
THEON agrees to acquire HGH Systèmes Infrarouges for €300M, entering counter-drone systems.