Theon International Plc

Latest Results (12.06.2024):

Record Order Intake

In the fiscal year 2023, Theon International Plc achieved a record order intake of €506 million, which represents a 51.7% increase from the previous year. This surge in orders boosted the Book-to-Bill ratio to an impressive 2.3x. Additionally, the soft order backlog by the end of the year stood at €540.2 million, equivalent to 2.5 times the revenue of 2023.

Revenue Growth

Theon International Plc reported a significant revenue increase in FY 2023, totaling €218.7 million. This figure marks a 53.1% growth compared to FY 2022, highlighting the company's expanding market presence and operational success.

Profitability Enhancement

The adjusted EBIT for Theon International Plc in FY 2023 was €56.5 million, showing a robust increase of 40.4% compared to the previous year. This improvement reflects a healthy EBIT margin of 25.8%, underscoring enhanced profitability and efficient management.

Financial Position and Capital Management

As of December 31, 2023, Theon International Plc reported a net cash position of €0.1 million, a significant improvement from a net debt of €10.9 million at the end of FY 2022. Furthermore, net working capital was managed down to €63.6 million, or 29.1% of revenue, improving from 41.4% in the previous year, thus reducing cash absorption.

Dividend Proposal

Reflecting confidence in the company's financial health and future prospects, the Board of Theon International Plc intends to propose a dividend payout of 40% against the FY 2023 results at the upcoming Annual General Meeting (AGM). This decision comes a year earlier than initially communicated in the IPO Prospectus, highlighting the company's strong performance and optimistic outlook for 2024.