IBA reports solid Full Year 2024 results
IBA reports solid Full Year 2024 results
Louvain-la-Neuve, Belgium, 20 March 2025 - IBA (Ion Beam Applications S.A), the world leader in particle accelerator technology, today announces consolidated results for the 2024 financial year.
- Record-high revenue and return to profitability in 2024 driven by well-executed backlog conversion
- Sustained growth in equipment order intake (+11% YoY) with a strong year from Other Accelerators (+43%). Proton Therapy order intake gained momentum in Q4 (5 accelerator systems sold in 2024)
- Backlog stable at all-time high with €1.5 billion, providing significant visibility for the future
- Strong balance sheet reflected in €33.5 million net cash position at year-end and access to €60 million undrawn credit lines
- Continued investment in future value creation, in particular PanTera securing an over-subscribed Series A round valuing the company at approximately €280 million post money. This funding round aims to accelerate global Actinium-225 production
- New segment reporting following updated organization structure in three focused entities: IBA Clinical, IBA Technologies and IBA Corporate. New reporting will be applied as of 2025 with 2024 pro-forma available in Section III
- CFO transition: Henri de Romrée, Deputy CEO, appointed interim CFO following the departure of Soumya Chandramouli
- Updated mid-term outlook: 2024-28 revenue CAGR of 5-7% with c.10% REBIT margin by 2028; and 2025 guidance: REBIT of at least EUR 25 million supported by improved performance predictability linked to high backlog and growing recurring services revenue
- A Capital Markets Day will be held on 7 April to provide detailed insights into the growth drivers of each business unit and lay out a roadmap to achieving our financial targets
Olivier Legrain, Chief Executive Officer of IBA commented: “We are pleased to report improved topline growth and a return to profitability in 2024. IBA successfully delivered its objective of accelerating backlog conversion across all business units, particularly in the Other Accelerators business.
IBA is at an inflection point and enters 2025 in a position of significant strength with a healthy balance sheet, all time high backlog and highly active pipeline. The building blocks for long-term profitability and sustainable value creation for all our stakeholders are now in place and enable IBA to share a 1-year guidance and an updated mid-term outlook ”