IBA Business Update – First Quarter 2023
Louvain-la-Neuve, Belgium, 17 May 2023 - IBA (Ion Beam Applications S.A), the world leader in particle accelerator technology, today announces its business update for the first quarter ending 31 March 2023.
Group Overview
- Strong balance sheet maintained with EUR 103 million net cash position
- Continued focus on delivering EUR 1.3 billion Group backlog, with close to 65 equipment projects under installation in 2023
- Investment plan on track with R&D and digital initiatives to ensure IBA maintains and further develops its world leading technology offering
Olivier Legrain, Chief Executive Officer of IBA commented: “IBA has made a solid start to the year across all of our business units, with a continued focus on backlog conversion, and we remain confident in positive momentum for IBA in 2023. Our pipeline is strong in Proton Therapy across all geographies. In addition, we continue to see significant traction within our Industrial Solutions business. Over the coming year IBA will continue to focus on converting its record backlog, as well as investing in future growth.”
Proton Therapy
- 32 projects ongoing, with seven Proteus®PLUS1 and 25 Proteus®ONE1 systems in progress
- Strong pipeline across all geographies, highlighting the strength of the Proton Therapy market
- Proton therapy received further validation by ASTRO updating its guidelines for which indications proton therapy is recommended, expanding Group 12 indications
- Continued expansion of Campus, the world’s first online proton therapy platform
Other Accelerators (RadioPharma, Industrial)
- Four new machines sold in first quarter and one post-period end
- Continued interest in X-ray and electron beam sterilization
- A total of 18 installations ongoing in the first quarter, with these expected to accelerate during the year
- Post-period end, IBA launched AKURACY®, an integrated solution for cardiac PET imaging, at the European Association of Cardiovascular Imaging (EACVI) meeting in May
Dosimetry
- Order intake of EUR 19.4 million, in line with Q1 2022
- Continuing to deliver on record backlog for Dosimetry business
- A number of post-period updates:
- Launch of Dose-X, the next-generation reference class electrometer, in April
- Launch of myQA® PROactive, the world’s first commercially available risk management software for radiation oncology, in May
- Distribution agreement signed for a combination of IBA’s myQA® iON and ScandiDos’ Delta4 phantom+ offering
Outlook
IBA has performed well across all business units over the first quarter, with this momentum expected to continue for the remainder of 2023 and beyond. The pipeline remains strong and with a solid backlog, growing services providing continuous revenues and a high cash position, IBA remains confident in its positive outlook for the year ahead. Despite the current geopolitical situation and economic uncertainties IBA has clear visibility on its mid-term performance and maintains its guidance as set out in its full year 2022 results.
***ENDS***
Financial calendar
Half Year Results 31 August 2023
Business Update Q3 2022 16 November 2023
About IBA
IBA (Ion Beam Applications S.A.) is the world leader in particle accelerator technology. The company is the leading supplier of equipment and services in the field of proton therapy, considered to be the most advanced form of radiation therapy available today. IBA is also a leading player in the fields of industrial sterilization, radiopharmaceuticals and dosimetry. The company, based in Louvain-la-Neuve, Belgium, employs approximately 1,800 people worldwide. IBA is a certified B Corporation (B Corp) meeting the highest standards of verified social and environmental performance.
IBA is listed on the pan-European stock exchange EURONEXT (IBA: Reuters IBAB.BR and Bloomberg IBAB.BB). More information can be found at: www.iba-worldwide.com
For further information, please contact:
IBA
Soumya Chandramouli
Chief Financial Officer
+32 10 475 890
Investorrelations@iba-group.com
Olivier Lechien
Corporate Communication Director
+32 10 475 890
communication@iba-group.com
For media and investor enquiries:
Consilium Strategic Communications
Amber Fennell, Matthew Neal, Lucy Featherstone
+44 (0) 20 3709 5700
IBA@consilium-comms.com
1 Proteus®PLUS and Proteus®ONE are brand names of Proteus 235
2 Group 1 indications are those which frequently support the use of proton therapy based on medical necessity and published clinical data.
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