Theon Secures c.EUR41M New Firm Orders and Additional c.EUR40M Options

Theon International Plc (THEON) has secured new firm orders from European NATO member states and countries in the Middle East, totaling approximately €41 million. These orders include both night vision goggles and thermal clip-on devices. The majority of this order intake is part of a newly signed framework agreement with a European NATO country (the fourth one over the last few months) that includes additional options worth c.€40 million.

In addition, separately from the above orders and options, THEON has received a new order under the Squad Binocular Night Vision Goggle (SBNVG) program for the United States Marine Corps (USMC). This represents the fourth delivery order under the multi-year Indefinite Delivery/Indefinite Quantity (ID/IQ) contract awarded in 2023. The order converts volumes from soft backlog into firm contractual commitments, thereby strengthening THEON’s hard backlog and securing delivery visibility under the program through 2027.

Philippe Mennicken, Deputy CEO and Business Development Director of THEON stated: “Although the year has only just begun, we have already started 2026 with a strong commercial momentum. The orders announced today represent firm orders that are further adding to our backlog. We are actively pursuing numerous opportunities globally, targeting to an order intake that will well exceed expected deliveries in 2026.”