IBA BUSINESS UPDATE – THIRD QUARTER 2021
Louvain-La-Neuve, Belgium, November 18, 2021 –IBA (Ion Beam Applications S.A., EURONEXT), the world leader in particle accelerator technology, today announces its business update for the third quarter ending 30 September 2021.
Group Overview
- Strong performance across all business lines
- Ongoing commitment to stakeholder approach, delivering the best offering to our customers and investing for long-term sustainable growth whilst meeting ESG targets
- Strong balance sheet maintained, with EUR 91 million unaudited net cash (30 June 2021: EUR 69 million)
Olivier Legrain, Chief Executive Officer of IBA commented:“IBA has continued to perform strongly in the second half of 2021 with solid progress across all business units. We have a highly active pipeline of new opportunities and are particularly excited about the marked revival in proton therapy activity in the important US market. Our Other Accelerators and Dosimetry businesses have also been exceptionally strong in the second half of the year with encouraging momentum as we approach 2022.
“A core component of our roadmap towards sustainable growth is investment in future innovation to deliver strategic impact. In this regard, we were pleased to provide updates on a range of initiatives at the recent ASTRO conference, as well as several strategic partnerships, including in the promising field of radiotherapeutics. We are very excited about future prospects across our business lines and are in a confident position to achieve long-term profitability, with our stakeholder approach underpinning all of our business activities.”
Business Unit Highlights (including post-period end)
Proton Therapy
- 13 Proteus®ONE[1] and 8 Proteus®PLUS1 projects currently ongoing. Strong pipeline of new global opportunities with significant activity in the US and Asia
- Contract signed for a five room Proteus®PLUS System in China including a multi-year service contract
- Post-period end, finalized contract with Advocate Radiation Oncology in Florida, which previously selected IBA’s Proteus®ONE for its new Radiation Oncology Centre, including a multi-year service contract
- Post-period end, announced updates at ASTRO, including expansion of strategic partnership with RaySearch within Flash and proton ARC therapy projects, and the launch of Campus, the world’s first online proton therapy platform
Other Accelerators (RadioPharma, Industrial) and Dosimetry
- Strong performance in Other Accelerators in the third quarter, with 23 machines sold in the year to date of which 11 machines were sold in Asia
- Strategic R&D partnership announced with SCK CEN to enable the production of Actinimum-225 (Ac-225), a novel therapeutic radioisotope which has significant potential in the treatment of cancer
- Post-period end, announced a strategic partnership with TRAD Tests & Radiations to enable the development of a new radiation processing module, addressing an increasing unmet need in the sterilization market
- Dosimetry revenues and order book have continued to strengthen, further demonstrating the success of the business unit’s recent product launches
Outlook
During the third quarter of 2021, IBA’s performance has continued to accelerate with strong progress across all business lines. Our pipeline is very active, particularly in the US and in Asia, and, coupled with the robust balance sheet and predictable revenue base of the services business, provides encouraging visibility for the period ahead. Whilst we are confident about business performance, the ongoing complex situation with the pandemic means that we are still unable to provide reliable financial guidance. We will provide a further update at the time of the 2021 full year results in March 2022.
[1]*Proteus®ONE and Proteus®PLUS are brand names of Proteus 235