THEON moves to completes MERIO acquisition following receipt of required approvals; new orders already awarded

(LSE:THEON) Theon International Plc announced that it has received all required approvals and finalized all preparatory steps for the completion of the acquisition of an 80% stake in MERIO, with the process now underway. The cooperation between THEON and MERIO had already commenced prior to completion, leveraging THEON’s international business development network to capture synergies. The MERIO management team and key employees will remain with the business to support ongoing commercial and industrial cooperation between THEON and MERIO. As a result of integration preparation efforts, THEON has already received an order for approximately €5 million for MERIO’s solutions for unmanned aerial vehicle applications. This €5 million order represents about one-third of MERIO’s projected 2026 revenues and provides an early indication of the potential synergies from the acquisition. THEON’s approach is consistent with its previous acquisition of KAPPA, where new orders nearly matched KAPPA’s prior-year revenues within five months of completion. THEON will now fully integrate MERIO’s business development, production, and operational activities into the Group, expanding cooperation across its European footprint, particularly in Greece, Germany, and France. Philippe Mennicken, Deputy CEO & Chief Business Development Officer of THEON, stated that the teams have been preparing closely to identify business development and R&D synergies, and that international business development teams have already begun discussions in new markets. Mennicken also referenced ongoing preparations with JV partner Safran to finalize the gimbals joint venture structure, aiming to accelerate MERIO’s commercial development. Christian Hadjiminas, Founder and CEO of THEON, emphasized that the M&A strategy is focused on creating value by combining entrepreneurial, technology-driven companies with THEON’s international customer relationships and industrial footprint. Hadjiminas noted that the first MERIO order, generated from Day One with THEON’s support, exemplifies this strategy. He also stated that THEON intends to play an active role in the further integration of the European defence industry, with activities mainly in Greece, Germany, and France. Subject to completion of the HGH acquisition, THEON expects to broaden its platform and strengthen its ability to offer integrated electro-optic solutions internationally. THEON will publish its Q3 2026 Trading Update on 9 November 2026 after market close.

THEON secures new orders of c.€50 million and is pre-selected for several higher-value contracts and options

(LSE:THEON) Theon International Plc announced it has secured new orders totaling approximately €50 million from European and Middle Eastern countries, with deliveries expected to commence this year. Theon received a notification of award for the supply of its NYX night vision goggles and ORION fused goggles to a European NATO Member state. This marks the first major contract award for the ORION fused goggles from a western European end user, which is significant for the THEON NEXT initiative aimed at developing a European, fully interconnected future soldier vision system. Additional orders have been received by KAPPA, which is 100% owned by THEON, for various land and sea applications, amounting to a high single-digit million euro total. Remaining orders reflect a mix of man portable products. As of Q4 2026, THEON notes that the reprioritization towards land forces equipment, anticipated earlier in the year, is materializing, with THEON being selected across various projects. The company states these orders reinforce its leadership position in the soldier modernisation sector. THEON continues to expect demand to accelerate in Q4 2026 and into early 2027. Philippe Mennicken, Deputy CEO and Business Development Director, commented that demand indicators for the coming periods are positive, as shown by the first batch of new orders and ongoing reprioritisation. THEON has also been pre-selected for several other higher-value contracts and options, with strong order intake expected in the last quarter of 2026 and first quarter of 2027, depending on government approval processes. The company remains conservative in its approach. THEON is continuing Business Development & R&D integration activities for recent investments and acquisitions, particularly in gimbals and air defence systems. Full operational integration will commence following required regulatory approvals, but THEON has already started offering an integrated electro-optical platform globally through initial integration activities.

Publication of H1 2026 Report

(LSE/AIM:THEON) Theon International Plc announced the publication of its H1 2026 Report for the six months ended 30 June 2026, reiterating key financials from the 27 July 2026 trading update. H1 2026 performance featured strong revenue growth of 35.4%, an Adjusted EBIT margin of 26.2%, and a sustained book-to-bill ratio of approximately 1.0x. The company's addressable market expanded to nearly €8 billion due to entry into high-growth adjacencies. Theon secured a €325 million syndicated financing facility coordinated by Alpha Bank, further strengthening liquidity and funding flexibility. H1 2026 financials included order intake of €232.5 million, revenue of €248.7 million, Adjusted EBITDA of €70.0 million, Adjusted EBIT of €65.1 million, capex of €11.8 million, and net debt of €237.9 million as of 30 June 2026. Soft backlog stood at €1,455.9 million and options on soft backlog at €902.0 million. The company will hold a live webcast for analysts and investors on 08 September 2026 at 3:00 PM EEST (1:00 PM BST). FY 2026 guidance includes revenue of approximately €600 million, organic growth above 15% per annum, Adjusted EBIT margin above 26%, capex of €30 million (approximately 4% of revenue), and a dividend payout of €24.1 million (30% of FY 2025 net income). Theon continues to focus on integrating newly acquired businesses, developing new products, and capturing new business opportunities.

THEON announces Q2 2026 / H1 2026 Trading Upd...

(LSE/AIM:THEON) Theon International Plc announced its Q2 2026 / H1 2026 Trading Update, reporting revenue of €128.6 million for Q2 2026 and €248.7 million for H1 2026, with revenue growth of c.38% and c.35.4% respectively. The company achieved an adjusted EBIT of €35.1 million in Q2 2026 and €65.1 million in H1 2026, with adjusted EBIT margins of 27.3% and 26.2%. Order intake increased by 38.5% to €232.5 million in H1 2026, and the soft backlog reached €1.46 billion as of 30 June 2026. Theon agreed to acquire 80% of MERIO and HGH for an enterprise value of c.€300 million, with the HGH acquisition expected to be entirely funded through debt. The company invested $3 million in Twin Prime and inaugurated a new facility in Bangladesh. Theon reiterates its FY 2026 Guidance of €570-600 million revenue, organic growth of >15% per annum, and targets €1 billion revenue by 2029.

SAFRAN and THEON partner to fast-track fieldi...

(LSE/AIM: THEON) Theon International Plc (THEON) and Safran Electronics & Defense (SAFRAN) have signed a Memorandum of Understanding to establish a joint venture dedicated to the design, development and commercialization of airborne electro-optical and infrared systems for unmanned aerial vehicles. The joint venture will develop next generation optronic solutions, covering small gimbals weighing less than 8 kilograms, to address the growing demand for intelligence, surveillance, reconnaissance (ISR) and targeting capabilities in defense and security markets. THEON GROUP has more than 280,000 systems in service with Armed and Special Forces in 72 countries around the world, 26 of which are NATO countries. Safran has a global presence, with more than 110,000 employees and revenue of 31.3 billion euros in 2025. THEON INTERNATIONAL PLC has been listed on Euronext Amsterdam (AMS: THEON) since February 2024. The joint venture aims to deliver platform-agnostic solutions spanning the full spectrum of operational needs for affordable mass deployment systems. The partnership marks a concrete step in strengthening Europe’s technological sovereignty in a critical defense domain.

THEON secures c.€42 million in new orders; ad...

(LSE/AIM: THEON) THEON INTERNATIONAL PLC (THEON) announces new orders totaling €42 million in Q2 2026 to date, with an additional €27 million in associated options. Year-to-date, total order intake and new options stand at €144 million and €67 million respectively, reflecting sustained momentum across NVGs and the newer products. The majority of the new orders relates to Kappa Optronics’ (KAPPA) Vehicle Awareness Systems for several hundred armored vehicles in a European Union country, with deliveries spanning from 2026 to 2028. The order will be funded through the EU’s SAFE (Security Action For Europe) mechanism, allowing other countries to join under the same contract. THEON targets to maintain an elevated book-to-bill ratio of above 1.0x in FY 2026. THEON has full confidence in its current FY 2026 guidance which represents revenue increase of c. 30% on FY 2025, of which more than 20% is expected to be organic.

THEON invests in Twin Prime and plans Joint V...

Theon International Plc (THEON) announced a $3 million strategic investment in Twin Prime, a US-based frontier AI lab focused on defense and security. THEON will acquire a single digit minority equity stake in Twin Prime and form a Joint Venture (JV) with a 60% ownership by THEON and 40% by Twin Prime, to develop and commercialise bespoke AI solutions. The JV will be incorporated in Greece and aims to accelerate THEON's AI research and development efforts. This move expands THEON's footprint in the U.S. and Polish markets and builds on previous minority stakes in KOPIN Corporation and VARJO Technologies. The financial contribution of earlier investments is expected to be further reflected in THEON's Q2 2026 results.

Revision to Q1 2026 Trading Update

Theon International Plc announced a revision to its Q1 2026 Trading Update Report, specifically to the Cash Flow Statement on page 15. The revision involves a reclassification of the profit from financial assets measured at fair value to a non-cash item within the cash flow statement. The company states that this reclassification has no impact on its reported net debt position or any other details in the Q1 2026 Trading Update published via Euronext Amsterdam. The corrected report is now available on the company's website. Theon International Plc has been listed on Euronext Amsterdam since February 2024.

THEON enters into binding terms/ exclusivity ...

Theon International Plc (THEON) has entered into binding terms and an exclusivity agreement to acquire an 80% stake in Merio SAS (MERIO) from RPL Développement. The transaction is subject to long-form documentation and regulatory approvals and will be financed through a combination of debt and internally generated cash. MERIO is expected to generate above €15 million in revenues and a projected EBIT of above €3.5 million in FY 2026. The acquisition aims to diversify THEON’s portfolio, expand its geographic presence in France, and accelerate revenue growth towards a €1 billion revenue target by 2029. The management team of MERIO will remain in place, and the deal is expected to create revenue, cost, and R&D synergies.

THEON Publication of 2025 Annual Report & Cor...

THEON International PLC announced the publication of its 2025 Annual Report and related corporate documents. The announcement provides official notice to shareholders and the market that these documents are now available. This is a standard disclosure that ensures regulatory compliance and transparency for investors. The release of the annual report is significant as it contains detailed financial and operational information for the year ended 2025. Investors rely on such disclosures to assess company performance and make informed decisions.