IBA Reports Third Quarter 2024 Results
IBA Reports Third Quarter 2024 Results
Louvain-la-Neuve, Belgium, 21 November 2024 - IBA (Ion Beam Applications S.A), the world leader in particle accelerator technology, today announces its business update for the third quarter ending 30 September 2024.
Group Overview
- Solid equipment order intake at period-end of EUR 171 million, an increase from last year. Post-period, several major contracts finalized in Industrial Solutions to bring year to date order intake to EUR 215 million
- Strong backlog conversion in the third quarter with momentum expected to continue into the fourth quarter
- Equipment and Services backlog remains at an all-time high of EUR 1.4 billion
- Good OpEx management, whilst continuing to invest in the future growth of the business
- Profitability maintained with positive REBIT expected for year end
- As expected, the Group’s net cash position was EUR 3.3 million (unaudited) at the end of the period. Driven by backlog conversion and Other Accelerators order intake, the net cash position rose to EUR 19 million (unaudited) at 31 October, with undrawn credit lines of EUR 60 million
- IBA’s joint venture, PanTera, successfully closed a EUR 93 million Series A to accelerate the global supply of actinium-225. The transaction valued the company at EUR 280 million post money. As already communicated, the transaction leads to a revaluation of IBA’s participation in PanTera, with a total positive impact of approximately EUR 23 million, which will be recognized as a profit to IBA over the next three years
Olivier Legrain, Chief Executive Officer of IBA commented:“IBA’s focus on backlog conversion has continued throughout 2024 across all business units and momentum is expected to continue as we enter the latter part of the year. Alongside this, IBA has maintained a strong order intake for its Other Accelerators business, with 30 machines sold year to date, in comparison to 18 for the full year 2023. As a result, IBA is confident in Group performance for the full year.
“IBA also continued to demonstrate the potential of its technology to address new growth areas and we are delighted to realize this potential through PanTera’s highly successful, oversubscribed financing round to support the rapidly growing theranostics field. IBA continues to explore other cutting-edge applications of its technology, in line with its strategy and mission.”