Exosens and Theon Extend Their Partnership Until 2030
Exosens and Theon International have decided to extend their light intensifier tube supply agreement until 2030, according to a statement from both companies.
Exosens and Theon International announced the extension of their trade agreement, originally set to expire in 2027, which will now continue until the end of 2030. This partnership aims to ensure the necessary production capacities to meet the increasing demand in the market for light intensifier tubes, particularly in the defense sectors of Europe, the Middle East, North Africa, and the Asia-Pacific region. By the end of the year, Theon will convert its options for 2027-2028 into firm orders, a move that will absorb some of the increase in Exosens's production capacities.
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The renewed agreement strengthens Exosens's position as a key supplier for European armed forces and extends its influence internationally. To meet global demand, Theon will increase its annual supply of light intensifier tubes. This increase from the initial agreement will satisfy the demand for night vision in Europe and the MENA and APAC regions. The partnership also provides Exosens with advanced visibility on delivery volumes through Theon's conversion of options.
Securing Supply in a Market with Unmet Demand
With global supply still falling short of demand, Exosens and Theon position themselves as key players in ensuring supply security. Theon aims to acquire over 400,000 tubes over five years, thus consolidating Exosens's leadership in the sector. This strengthened collaboration is supported by the increase in Exosens's order book and Theon's economic outlook, enabling Exosens to continue developing its production capacities and meet market needs.
Nous sommes fiers de présenter notre performance sur les neuf premiers mois de l’année 2025, qui témoignent d'une croissance soutenue du chiffre d'affaires et de la marge brute ajustée, portée par la forte dynamique du secteur de la Défense.
Marché de la Défense très dynamique, forte demande pour la vision nocturne et les systèmes pour drones/anti-drones, croissance soutenue en Europe avec contribution des États-Unis et de l’Asie-Pacifique. Lancement commercial réussi des tubes 5G (plus de 5 000 commandes avant lancement).
Risks mentioned
Cession de l’activité Amplification par Micro-ondes entraînant une perte comptable sans impact de trésorerie en 2025
Dépendance aux budgets de Défense et aux évolutions géopolitiques
Risque d'intégration des acquisitions récentes
Incertitudes de la demande dans les Sciences de la Vie (marché américain)
Opportunities identified
Croissance adressable liée à la vision nocturne et aux applications drones/anti-drones
Commercialisation des tubes 5G avec commandes significatives (>5 000 tubes)
Expansion des capacités de production (+40% d’ici 2027) soutenant le développement commercial
Effets de croissance externe (Noxant, NVLS, Phasics) élargissant le marché adressable
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