H1 2024 Trading Update

25 Jul 2024 08:21 CEST

 H1 2024 Trading Update

Order intake of €77 million in H1 2024

 Record revenue of €152.3 million, +161% ahead of H1 2023

FY 2024 revenue and profitability guidance reaffirmed

Nicosia, 25 July 2024 - Theon International Plc (Euronext Amsterdam, AMS: THEON), a leading developer and manufacturer of night vision and thermal imaging systems for defence and security applications globally, is pleased to provide a brief trading update for the six months ended 30 June 2024 (H1 2024) ahead of announcing H1 2024 results in September 2024.

Trading performance in H1 2024 was as anticipated, with revenue of €152.3 million being 161% ahead of H1 2023 (€58.4 million), and EBIT margin performance in-line with guidance of mid-twenties. The Company reaffirms its confidence in the FY 2024 guidance.

Order intake during H1 2024 totalled €77 million, and the Company continues to have a solid soft order backlog, €427 million as of 30 June 2024 being equivalent to 1.3x FY 2024 revenue guidance. The Company expects order intake to accelerate towards the year-end in line with traditional weighting and the pending demand in the market.

The Company continues to progress its pipeline of acquisitions in line with its stated inorganic growth strategy and anticipates announcing its first acquisition post-IPO within a few weeks.

Theon will announce its H1 2024 results on Monday, 9 September 2024 after market close, and hold a webcast for analysts and investors in the following day. Webcast details will be provided nearer the time.

Investor Relations: 
Nikos Malesiotis 
E-Mail: ir@theon.com 
Tel: +30 210 6772290

Media contact: 
Elli Michou 
E-Mail: press@theon.com 
Tel: +30 210 6728610

press-releaseh1-trading-update25072024.pdf