Theon International, a developer and manufacturer of night vision and thermal imaging systems for defence and security applications worldwide, announces its financial results for the six months ended June 30, 2024, ahead of its results announcement in September 2024.

The H1 2024 performance recorded an expected record revenue of €152.3 million, 161% higher than H1 2023 (€58.4 million), and an EBIT margin in line with mid-cycle guidance. The company reaffirms its confidence in its forecasts for the 2024 financial year.

New orders in H1 2024 amounted to €77 million and the company still has a strong backlog of €427 million as of June 30, 2024, equivalent to 1.3 times the revenue forecast for fiscal year 2024. The company confirms strong demand for its products and expects an acceleration in new order intake as we approach the end of the year, in line with normal practice.

Theon continues to plan and execute its acquisitions in line with its growth strategy and expects to announce its first acquisition following the listing of its shares on the Amsterdam Stock Exchange in a few weeks.