THEON is accelerating its investment activities. Specifically, it is accelerating its investment in Harder Digital and expects it to contribute 8%–10% to its revenue target of 1 billion euros by 2029–2030.
The company has also completed the acquisition of 100% of Kappa Optronics GmbH (KAPPA) for a cash consideration of 69.9 million euros, following receipt of all required regulatory approvals. KAPPA is expected to contribute approximately 40 million euros to THEON GROUP’s revenue for the fiscal year 2026.
As THEON emphasized, the acceleration of the investment in Harper Digital is due to the increasing global demand for Image Intensifier Tubes, which exceeds the existing supply. The aim is to further strengthen its production potential, to a greater extent than initially envisaged, as well as to more rapidly improve the key quality indicator FOM (Figure of Merit) and to expedite additional upgrades to the existing product.
This development is expected to increase Harder Digital’s projected profitability from 2027 onwards. At the same time, THEON will continue to be the largest buyer of European Light Intensifier Tubes, including the new 5G version, of which it was also the first buyer with the largest order volume.
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