Terma delivers strong growth and strengthens strategic position in a changing world

The 2024/25 financial year was marked by continued strong global demand for advanced defense and security solutions. Terma delivered a 49% increase in order intake and an impressive 37% year-on-year increase in earnings before special items and tax. This is supported by improved operational efficiency and disciplined execution. The revenue for Terma in the 2024/25 fiscal year was DKK 2.9 billion, which represents a 9% year-on-year increase.

2024/25 was also marked by ATP, Denmark’s largest pension fund, becoming an investor and joined the Board of Directors. This partnership strengthens Terma’s ability to pursue both organic and inorganic growth opportunities, while also investing significantly in new capabilities and technologies. 

Accelerating innovation and delivery

A key priority for Terma is developing high-technology solutions with shorter development cycles. The recent launch of the groundbreaking SCANTER Sphera drone detection radar is a clear example of this direction:

“The needs of our customers are evolving rapidly, and that requires a different pace - both in how we develop and how we deliver,” says CEO Henriette Hallberg Thygesen. “With solutions like SCANTER Sphera, we are combining high technology with agility, ensuring that our customers receive operational value faster. This is the direction we will continue to move in: scalable innovation with shorter development cycles and strong end-user impact.”

The SCANTER Sphera also marks Terma’s entry into the drone/counter-drone market.

“The growing drone threat makes it essential to strengthen critical infrastructure protection,” says Henriette Hallberg Thygesen. “Entering the drone and counter-drone domain is a natural next step in meeting this urgent need with the right technology.”

European demand driving strategic growth

Geopolitical developments continue to shape defense priorities - especially in Europe, where investment in defense and infrastructure protection is accelerating. In response, Terma is intensifying its focus on the European market and supporting efforts to strengthen regional resilience and autonomy. This aligns with Terma’s long-term strategy and builds on the company’s established partnerships in the region.

People and purpose driving progress

Terma’s performance in 2024/25 has been underpinned by a strong organizational effort. The company continues to focus on building a culture that supports deep functional expertise as well as agility and empowerment. Employees are involved early in complex projects and play a key role in accelerating development and delivery—an approach that reflects Terma’s ambition to remain responsive in a rapidly changing market.

“Our achievements this year are the result of the dedication, expertise, and strong commitment shown by all of our employees across the organization. Their professionalism and drive are what enable us to deliver complex solutions at pace - and to continuously raise the bar for what we can achieve together,” concludes Henriette Hallberg Thygesen.

The annual report has been approved at the General Meeting.

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