IBA Reports Full Year 2022 Results
ALL-TIME RECORD ORDER INTAKE AND BACKLOG
IBA ANNOUNCES MID-TERM GUIDANCE
Louvain-la-Neuve, Belgium, 23 March 2023 - IBA (Ion Beam Applications S.A), the world leader in particle accelerator technology, today announces its consolidated results for the 2022 financial year.
Financial summary
- All-time record annual Equipment order intake of EUR 456 million and Dosimetry order intake of EUR 67 million
- All-time record overall Equipment and Services backlog of EUR 1.4 billion including Equipment backlog of EUR 713 million an Services backlog of EUR 669 million
- Total 2022 Group revenues up 15% from 2021 to EUR 361.3 million
- Proton Therapy and Other Accelerators Services revenue increased 12.8% versus last year to EUR 135 million
- Gross margin was 35.1%, compared to 34.4% in 2021
- Positive 2022 REBIT of EUR 11.1 million, down from EUR 14.5 million in 2021, due to the high inflationary environment, as well as increased investment into R&D, infrastructure, digital technologies and sustainability to maintain IBA’s leading offering and invest in its future growth
- Total Group net profit of EUR 6.1 million (2021: EUR 3.9 million), positively impacted by deferred tax assets recognition related to improvement of future profitability
- Strong balance sheet with EUR 158 million gross and EUR 117 million net cash
- Mid-term guidance announced and dividend of EUR 0.21 per share proposed by the Board, a 10% increase from last year
Business summary
- 17 new proton therapy rooms sold in 2022, compared to nine last year
- Other Accelerators order intake of 36 systems compared to 31 in 2021
- Dosimetry order intake up 22% to a record EUR 67 million
- Three new installations in PT and 32 installations in Other Accelerators started during the year with four completed in PT and 20 in Other Accelerators
- Good progress across IBA’s four strategic sustainability streams: a) low carbon, low waste products b) low carbon, low waste company c) diverse equitable and inclusive workplace and d) accountability towards sustainability
Olivier Legrain, Chief Executive Officer of IBA, commented: “Despite the headwinds from the global macro-economic environment, IBA has seen another strong year, driven by increasing sales across all of its business units and an all-time record order intake and backlog. On the Proton Therapy side, we have seen significant traction in Europe and the US in 2022. In addition, I’m pleased with the continued pace of deals within Industrial Solutions especially, which has continued into the start of 2023. During the year we have also been focused on future-proofing the business with targeted investments to support the Group in executing on its record backlog as well as maintaining our leading market position. With our strong backlog, good revenue visibility and high cash position, we are confident on IBA’s positive outlook for 2023 and beyond.”