THEON secures c.€50 million new orders, directing revenue guidance to the upper range (€430 million)
Bloomberg (THEON:NA) / Reuters (THEON.AS)
Most new orders to be delivered in FY 2025
Total order intake in FY 2025 already surpassed €160 million, with additional embedded options of c.€100 million
Increased traction for digital products is expected to lead to further new orders soon
23 June 2025 – Theon International Plc (THEON) announces new order intake of c.€50 million. These orders consist of a balanced selection of products and originate from various small tenders and direct orders, primarily in Europe. Most of these orders are projected to be delivered by the end of the year, bolstering confidence in reaching the upper range of the guidance, which is set at €430 million.
With these orders, THEON has replenished the deliveries for the first half of 2025 and is entering a period where the outcome of several new larger size tenders is anticipated, especially concerning its digital A.R.M.E.D. products.
'The first half of the year has shown significant activity so far. As we commence the second half of the year, we are strategically positioned to secure substantial new orders as anticipated. Our customers are very satisfied with the performance of our new A.R.M.E.D. products and we expect them to place more orders in the future establishing them as the fastest growing segment of our business', said Philippe Mennicken, Deputy CEO and Business Development Director of THEON.
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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 200,000 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
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In addition, Mr Huno Rasmussen has financial experience as former Chairman of the insurance group Tryg A/S and The Lundbeck Foundation. He has a Ph.D. in Project Management from the Technical University of Denmark and is an Adjunct Professor at Copenhagen Business School. Article content Dr. Jørgen Huno commented: 'Greenland Resources Inc. is addressing a critical need especially for Europe to supply the necessary molybdenum and byproduct magnesium, and I am very excited to contribute to this essential project that is combining my experience in mining, large project execution in general and in Greenland in particular.' Article content Dr. Ruben Shiffman, Chairman, commented: 'We are thrilled that Jørgen joined our advisory board. Now that we received our exploitation license, we are beginning the equity capex financing process and Jørgen will be instrumental on technical aspects of the project with Danish stakeholders. 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As the high-grade molybdenum is mined for the first half of the mine life, the average annual production for years one to ten is 32.8 million pounds per year of contained molybdenum metal at an average grade of 0.23% MoS 2, approximately 25% of EU total yearly consumption and 100% of EU defence needs. On byproduct magnesium, the project uses approximately 35,000 m 3 per day of saline water with around 900 ppm of magnesium and the Company is working on extracting magnesium from the saline water using innovative technologies. In addition, the molybdenum concentrate has a magnesium component. The Company is aiming to incorporate magnesium in the economics of the feasibility study. On June 19, 2025, The Company was awarded an exploitation license for molybdenum and magnesium. With offices in Toronto, the Company is led by a management team with an extensive track record in the mining industry and capital markets. For further details, please refer to our web site ( and our Canadian regulatory filings on Greenland Resources' profile at The Project is supported by the European Raw Materials Alliance (ERMA). ERMA is managed by EIT RawMaterials, an organization within the EIT, a body of the European Union. Article content Forward Looking Statements Article content This news release contains 'forward-looking information' (also referred to as 'forward looking statements'), which relate to future events or future performance and reflect management's current expectations and assumptions. 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These assumptions include: future planned development and other activities on the Project; satisfactory completion of the Environmental Impact Assessment (EIA); successful completion of public consultation for the Social Sustainability Assessment (SIA); the ability to finance the Company including successfully concluding off-take arrangements, banking facilities and strategic investment; successful completion of the mining and closure plans and obtaining the permitting on the Project in a timely manner; no adverse changes to the planned operations of the Project; continued favourable relationships with local communities; current EU and other initiatives remaining in place into the future; expected demand for molybdenum and magnesium in the EU and abroad, including by companies that expressed an interest in purchasing molybdenum and magnesium; our mineral reserve estimates including magnesium and the assumptions upon which they are based, including geotechnical and metallurgical characteristics of rock confirming to sampled results and metallurgical performance; tonnage of ore to be mined and processed; ore grades and recoveries; assumptions and discount rates being appropriately applied to the technical studies; estimated valuation and probability of success of the Company's projects, including the Malmbjerg molybdenum project; prices for molybdenum and magnesium remaining as estimated; currency exchange rates remaining as estimated; availability of funds for the Company's projects; capital decommissioning and reclamation estimates; mineral reserve and resource estimates and the assumptions upon which they are based; prices for energy inputs, labour, materials, supplies and services (including transportation); no labour-related disruptions; no unplanned delays or interruptions in scheduled construction and production; all necessary permits, licenses and regulatory approvals are received in a timely manner or at all; and the ability to comply with environmental, health and safety laws. The foregoing list of assumptions is not exhaustive. Article content The Company cautions the reader that forward-looking statements and information include known and unknown risks, uncertainties and other factors that may cause actual results and developments to differ materially from those expressed or implied by such forward-looking statements or information contained in this news release and the Company has made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: favourable local community support for the Project's development; the projected demand for molybdenum and magnesium both in the EU and elsewhere, including by companies that expressed an interest in purchasing molybdenum and magnesium; the current initiatives and programs for resource development in the EU and abroad; the projected and actual status of supply chains, labour market, currency and commodity prices interest rates and inflation; the projected and actual status of the global and Canadian capital markets, fluctuations in molybdenum, magnesium and commodity prices; fluctuations in prices for energy inputs, labour, materials, supplies and services (including transportation); fluctuations in currency markets (such as the Canadian dollar versus the U.S. dollar versus the Euro); operational risks and hazards inherent with the business of mining (including environmental accidents and hazards, industrial accidents, equipment breakdown, unusual or unexpected geological or structure formations, cave-ins, flooding and severe weather); inadequate insurance, or the inability to obtain insurance, to cover these risks and hazards; our ability to obtain all necessary permits, licenses and regulatory approvals in a timely manner; changes in laws, regulations and government practices in Greenland, including environmental, export and import laws and regulations; legal restrictions relating to mining; risks relating to expropriation; increased competition in the mining industry for equipment and qualified personnel; the availability of additional capital; title matters and the additional risks identified in our filings with Canadian securities regulators on SEDAR+ in Canada (available at Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, described, or intended. Investors are cautioned against undue reliance on forward-looking statements or information. These forward-looking statements are made as of the date hereof and, except as required by applicable securities regulations, the Company does not intend, and does not assume any obligation, to update the forward-looking information. Neither the Cboe Canada Exchange nor its regulation services provider accepts responsibility for the adequacy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. Article content Article content Article content Article content Article content Contacts Article content For further information please contact: Article content Ruben Shiffman, PhD Chairman, President Article content Keith Minty, MBA Engineering and Project Management Article content Jim Steel, MBA Exploration and Mining Geology Article content Nauja Bianco, Public and Community Relations Gary Anstey Investor Relations Article content Eric Grossman, CPA, CGA Chief Financial Officer Article content Corporate office Suite 1810, 25 York Street, Toronto, Ontario, Canada M5J 2V5 Article content Telephone 1-844-252-0532 Article content
