Strong growth and high profitability in Q1 ’26

THEON International Plc recorded a significant increase in revenue and profitability in the first quarter of 2026, confirming the group’s strong growth momentum and maintaining its full-year guidance unchanged.

According to the company’s financial results, revenue amounted to 120.1 million euros, up 32.3% compared with the same period in 2025, while adjusted EBITDA reached 31.8 million euros, marking an increase of 28.5%. The adjusted EBIT margin remained at high levels at 25%, underscoring the group’s resilience and operational efficiency.

Earnings per share increased

Earnings per share rose significantly to 0.69 euros, supported also by the valuation of the company’s strategic stake in Exosens. Order backlog remained at 1.42 billion euros, providing enhanced visibility into the company’s future performance.

Despite a decline of approximately 40% in new orders year-on-year, management attributes this development mainly to seasonal factors and expects order intake to accelerate in the coming quarters. At the same time, the company continues to invest in new technologies, production facilities, and strategic acquisitions, strengthening its position in defence systems and night vision products.

Particular importance is also attached to the strategic partnership with Rheinmetall, as well as the agreement to acquire an 80% stake in the French company MERIO, which enhances THEON’s presence in the drone and light aerial platforms segment.

The founder and CEO of THEON, Christian Hadjiminas, stated that the first-quarter results confirm the company’s resilience, diversification, and sustained growth trajectory, adding that the group remains on track toward its target of 1 billion euros in revenue by 2029.

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