• Newly awarded contracts increase soft backlog by more than €50 million
• Already announced orders of c.€50 million move from soft to hard backlog
• A.R.M.E.D. products are increasing traction in many countries

THEON INTERNATIONAL PLC (THEON) announces newly awarded contracts that increase soft backlog by more than €50 million. At the same time, other previously secured orders (soft backlog) worth approximately €50 million move to THEON’s hard backlog. The new orders primarily require deliveries in 2025-2026, increasing coverage at the bottom of the range of 2025 guidance to c.90%.
The newly awarded contracts mostly include orders from Northern European countries. Aside from Night Vision Goggles (NVGs), part of the orders relates to the recently launched A.R.M.E.D. ecosystem of products. THEON expects more orders for these products in the near future. At the same time, it is in advanced stages in several tenders worth hundreds of millions. More details are expected to be announced in Q2.
Philippe Mennicken, Business Development Director of THEON, stated: “The anticipated increase in demand, driven by the recent geopolitical environment, is expected to accelerate new orders and the exercise of options at a pace faster than usual. THEON is well-positioned to swiftly deliver both Night Vision and Thermal Imaging products, thanks to its high production capacity and the availability of critical components.
THEON’s participation in the IDEX-NAVDEX 2025 (International Defense Equipment Exhibition) held in Abu Dhabi, United Arab Emirates, on 17-21 February 2025, was completed with a strong presence.
At THEON’s stand at IDEX-NAVDEX 2025, which is characterized as one of the largest international exhibitions in the field of defense and security, the integrated solution of the A.R.M.E.D. ecosystem of connected devices had a dominant position, apart from the company’s already best-selling night vision and thermal imaging systems. THEON presented its new Augmented Reality Modular Ecosystem of Devices (A.R.M.E.D.), in partnership with its subcontractor software company SCYTALYS, as its proposal for the “Soldier of the Future”.

The A.R.M.E.D. ecosystem of devices is an integrated system that radically upgrades the capabilities of the modern fighter, increasing tactical situational awareness, effectiveness, and survivability.