New orders totaling €53 million received to date in 2025, from 12 countries in total, have been announced by THEON. These orders are in addition to THEON's already increased backlog of approximately €650 million as of 31 December 2024.
The bulk of these new orders (which include significant value purchase rights) come from the German Soldier of the Future (IdZ) program, further strengthening THEON's presence in one of its core markets, Germany. In particular, the new orders are for THEON's new Heads-Up Display system, part of the recently launched A.R.M.E.D. product range, demonstrating significant commercial acceptance of the new product and underlining its potential for significant new sales in this sector.
On 29 January 2025, the German Parliament approved the procurement of the IdZ, with Rheinmetall Electronics GmbH being named as the main contractor. Subsequently, BAAINBw and Rheinmetall signed the contract on 6 February 2025. THEON SENSORS S.A., a subsidiary of THEON INTERNATIONAL PLC, is the largest supplier for the program. This program is expected to become a benchmark for similar initiatives to be implemented in various countries worldwide. At the same time, THEON is positively progressing with additional tenders of its new products, for which it expects to make further announcements in the near future, thus diversifying its sales mix in the coming years. The company expects that additional purchase rights for orders will be exercised once the first deliveries start, mainly in 2026.
Philippe Mennicken, Business Development Director at THEON, said, "We started the new year with a significant order intake, continuing the momentum already seen since the end of last year. It should be noted that our participation in the German "Soldier of the Future" (IdZ) program with our Heads-Up Display, THEA, demonstrates that our new A.R.M.E.D. products have the potential to further enhance our future sales beyond the night vision sector in which we have traditionally operated and in which we continue to hold a leading position."
