Theon International Plc announced on June 22 a new total order intake of around €70 million. A substantial portion of this order intake comes from Rheinmetall for the Bundeswehr’s Future Infantryman program (IdZ). This constitutes a combination of a new firm order and the exercise of an option for various products from the company’s A.R.M.E.D. ecosystem portfolio. In the course of the year, additional orders for the IdZ program could be forthcoming through the exercise of further options.
This new order further expands Theon’s key role in the digital vision systems for soldiers within the IdZ program, including its share of augmented reality applications (AR). The order intake accelerated in the second quarter as expected and reached around €153 million plus €27 million from options. Accordingly, total order intake since the beginning of the year stands at around €223 million, complemented by a further €68 million from options.
Theon is positioned at the center of the new soldier systems
Notably, according to the company, these figures reflect the full consolidation of the order intakes of Kappa and Harder Digital. Theon expects a further acceleration in the second half of the year—particularly toward the end of the fourth quarter, in line with the typical seasonality of the business—and reiterates the forecast to maintain an organic book-to-bill ratio above 1.0 for fiscal year 2026.
Philippe Mennicken, Deputy CEO and Business Development Director of the company, stated: “Theon is positioned at the heart of next-generation soldier systems. These new orders demonstrate customers’ conviction in Theon’s innovation capabilities and reflect the high level of trust in the company’s technological expertise as well as its execution capability.”
