Theon International PLC

Harder Digital secures new €25 million orders from major defence companies

PRESS RELEASE

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

• The new orders for 3^rd Generation IIT require deliveries in 2026-2027, expected to significantly improve the profitability performance of Harder Digital in the coming years
• This is the biggest order intake Harder Digital ever had
• THEON’s backlog is consequently increased by €25 million
  
  

8 December 2025 – Theon International Plc (THEON) announces that its subsidiary, Harder Digital has received orders for €25 million Image Intensifier Tuber (IIT) which require deliveries in 2026-2027. This is the biggest order intake Harder Digital has ever received for its products, proving the quality and performance of its 3^rd Generation IIT, increasing its backlog and consequently THEON’s backlog with the same amount.

As communicated at the time of the acquisition, THEON intended to utilise only half of the tubes produced by Harder Digital and sell the remainder to third parties. The production capacity of Harder Digital has more than doubled since the initial investment in 2024, after the addition of two new production lines. At the same time, the average quality of IIT has materially improved, leading to higher average selling prices. This, together with operational improvements been swiftly implemented, increasing scale and growing visibility, lead to improving financial performance of Harder Digital approaching THEON ‘s levels in the coming years. 

Christian Kohlstock, Managing Director of Harder Digital, commented: “These new orders, the biggest order intake we ever had in a short period, is a testament of the successful upscaling of our production. We intend to continue working closely with THEON to increase capacity and improve the performance of our tubes to address the increasing demand we see globally. This shows that THEON made the right choice by investing in and supporting one of its main suppliers.”

Dimitris Parthenis, CFO of THEON, stated: “We are very pleased to see that our efforts to revamp Harder Digital’s production are being rewarded faster than anticipated. We shall continue operating Harder Digital with a focus on optimizing profitability by relying also on sale opportunities with third-party customers”.

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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 240,000 systems in service with Armed and Special Forces in 71 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 Trading Update - HD Order _08_12_2025_vF