THEON sees dynamic growth for fiscal year 2025 with revenues expected to exceed €410 million, maintaining a high EBIT margin.

Specifically, the company said, revenues are expected to be in the range of €410-430 million, with around 80% of the lower end of the forecast already covered by the backlog of orders.

High pre-tax and interest margin is expected to be maintained in line with the target of 24-26%, while capital expenditure is expected to reach €20m, including investments in Harder Digital and the accelerated design and development of the platform-based systems business.

The portable defence electro-optical systems segment in which THEON has traditionally operated will continue to grow faster than the overall defence market. Despite high annual growth rates, THEON, already the leading company in this sector, will, thanks to a high backlog of orders, achieve growth in its business at a rate exceeding that of the overall market.

THEON participates in tenders around the world and continues to hold additional order extension rights (options) worth several million over and above the existing backlog, allowing it to achieve double-digit growth in 2025 while maintaining high levels of profitability. THEON is well protected against a potential shortage of sensors (tubes) in 2025, thanks to its existing supply agreements and the recent acquisition of Germany's Harder Digital.

As Philippe Mennicken, Business Development Director of THEON said, "The new products in the ARMED ecosystem and our focus on platform-based systems, together with new smart targeting applications (FCS), despite their strong momentum, will have minimal impact on 2025 financial results. The results of these efforts will be visible and will further support the company's growth from the beginning of 2026 onwards at the latest." 

Dimitris Parthenis, Chief Financial Officer of THEON, commented on the forecasts: "We are pleased to announce the projected continuation of our dynamic growth trajectory. Our current investments, along with the expected increase in global defense spending, will help us maintain this momentum while we seek to diversify our business through acquisitions. Our forecasts relate to the current group structure and not revenues that will result from our acquisition plan. With a strong balance sheet and a clear strategy, we are well positioned to continue to grow our business and generate strong profitability for our shareholders."