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

PRESS RELEASE

Bloomberg (THEON:NA) / Reuters (THEON.AS)

30 September 2026 – Theon International Plc (THEON)  is pleased to announce it has been awarded various contracts for a total value of c.€50 million from European and Middle Eastern countries, with deliveries expected to commence this year.

More specifically, Theon received the notification of award for the supply of its NYX night vision goggles and the ORION fused goggles to a European NATO Member state. This is the first major contract award for the ORION fused goggles from a western European end user, which is a significant step in the context of the THEON NEXT initiative to develop a European, fully interconnected future soldier vision system.

Alongside the above, further orders have been received by KAPPA (100% owned by THEON) for various land and sea applications for a high single-digit million amount in total.

Remaining orders reflecting a mix of man portable products. As we enter Q4 2026, the reprioritization towards land forces equipment anticipated by THEON earlier this year is already materialising, with THEON being selected across various projects.

These orders further reinforce THEON’s leadership position in the evolving soldier modernisation era, and we continue to expect demand to accelerate in Q4 this year and into early 2027.

Philippe Mennicken, Deputy CEO and Business Development Director of THEON stated: “We are pleased to see demand indicators across the board for the coming periods to point in the right direction as shown by the first batch of new orders and as already advised on reprioritisation in progress. With THEON’s selection across several other higher-value contracts and options, we expect to deliver strong last quarter 2026/first quarter 2027 (depending on approval processes by several governments) order intake, but like always we continue to remain conservative in our approach. Last, but not least, we are also pleased that our Business Development & R&D integration activities for the recent investments and acquisitions continue, especially for gimbals and air defence systems. While full operational integration can only commence following the receipt of required regulatory approvals, THEON has already commenced offering an integrated electro-optical platform globally, through these initial integration activities. “

For inquiries, please contact:

About THEON GROUP

THEON GROUP of companies develops and manufactures cutting-edge night vision and thermal imaging systems for Defense and Security applications with a global footprint. THEON GROUP started its operations in 1997 from Greece and today occupies a leading role in the sector thanks to its international presence through subsidiaries and production facilities in Greece, Cyprus, Germany, the Baltics, the United States, the Gulf States, Switzerland, Denmark, Belgium, Singapore and South Korea. THEON GROUP has more than 300,000 systems in service with Armed and Special Forces in 73 countries around the world, 26 of which are NATO countries. ΤΗΕΟΝ ΙΝΤΕRNATIONAL PLC has been listed on Euronext Amsterdam (AMS: THEON) since February 2024.
www.theon.com

Attachment

• Press Release New Orders Sep 2026_vF