Net Working CapitalA significant negative factor was a 144% increase in net working capital year-on-year, mostly related to receivables.
Short-term Share Price PressureIn the short term, the accelerated bookbuilding (ABB) is likely to lead to a lower share price.
Supply Chain RisksA key risk to Theon's growth is bottlenecks in the supply chain, especially for image intensifier tubes, although measures are underway to expand production capacity.