THEON in FINANCIAL TIMES & STATISTA list with the 1000 Fastest Growing companies in Europe for 2024
1st March 2024. THEON INTERNATIONAL Group (THEON) announces that THEON is the only defense company being recognized as 1 of the 1000 Fastest Growing companies in Europe for 2024, by FINANCIAL TIMES & STATISTA.
The FT1000 Europe’s Fastest Growing Companies 2024 is a ranking of 1,000 companies in Europe that achieved exceptional growth rate in revenues over four years, between 2019 and 2022. To earn a place on the list, companies need a minimum 2019-22 compound annual growth rate in revenue of 36.3%.
The creation of the ranking was based on a three-step process that includes application and evaluation phase, and ranking. The companies had to meet different criteria, such as revenue thresholds. All data reported by the companies was processed and checked by STATISTA.
THEON is a leading developer and manufacturer of customizable Night Vision and Thermal Imaging systems for defense and security applications with a global footprint. Excelling in designing and manufacturing cutting-edge devices across both man-portable and platform-based systems, its solutions allow the visualization of images in low light or obscure conditions and meets the standards of the most demanding armed forces. THEON’s constantly growing customer base now spans to 68 countries, including 24 NATO countries across the globe.
Over the 4-year period 2019-2022, the Company has been growing at a rate close to 50% per year achieving a very high profitability. In 2022, THEON generated EUR 147.4 million revenue, recording a 2020-2022 CAGR of 64.9%, while achieved an EBIT margin of 27.8%, among the highest in the industry globally.
Christian Hadjiminas, Founder and CEO of THEON, commented: “As the FT1000 is based on compound growth, we’re proud to be listed as the only defense company in 1000 Fastest Growing companies in Europe for 2024. This recognition is a testament to the company's remarkable evolution over the last few years. With a focus and dedication to create innovative night vision and thermal imaging systems for the most demanding armies in the world, and through our extensive network of companies, offices, facilities, and our experienced workforce of more than 300 highly skilled employees, we have deployed over 150,000 systems in service across 68 countries, attesting to the company’s widespread impact worldwide.
2024 seems to be an exciting year, with our robust development plan in place after also THEON’s recent listing on the Euronext Amsterdam market”.