Theon International Plc announces that the German Parliament approves the exercise of the 3rd option of the OCCAR BNVG contract.
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Press Release, Athens, 19 December 2024: Theon International Plc (THEON) announces that the Defence and Budget Committees of the German Parliament approved yesterday a new addendum of the OCCAR contract, exercising the 3rd consecutive option, with an additional option of similar size still available. The Consortium of HENSOLDT Optronics GmbH and THEON SENSORS SA has been invited by OCCAR to sign the said amendment on 20 December 2024 in Bonn, Germany.
- Total new orders in 2024 (including this 3rd option) already exceeding €510 m, well above the expected deliveries for the year (exceeding €340 million), resulting to an increased year-end soft backlog of more than €650 million
- This new order substantially enhances visibility for 2025 and 2026, with projected double-digit growth
- THEON triggers additional tube orders from Exosens, as part of the long-term frame agreement for 2025-2027
The original contract for the Production and In-Service Support of Binocular Night Vision Goggles (BNVG) with the international organisation OCCAR was signed in July 2021. As of today, 49,550 Mikron BNVG (powered by Exosens 16 mm tubes) have already been contracted for supply to the German and Belgian Armed Forces. According to this contract addendum, the Consortium will continue offering THEON’s Mikron BNVG to deliver several thousand additional goggles to Germany.
Christian Hadjiminas, Founder and CEO of THEON, stated: “The recent exercise of the option, earlier than expected, reaffirms the successful collaboration among the partners involved in this contract and highlights the vital role of night vision capabilities for military forces. Furthermore, we observe a sustainably high demand globally, as military forces more and more recognise the importance of maintaining operational capabilities during day and night. Thus, access to tubes becomes critical. This fully justifies a) the acquisition of Harder Digital earlier this year along with investment to increase capacity, b) the long-term contracts it has started signing with tube providers and notably Exosens. As a result, THEON has triggered the respective options to increase further the tube orders from Exosens for 2026 onwards, as part of our long-term frame agreement of 2025-2027. New order intake is expected to continue in the new year.”
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