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Press Release

IBA SA : IBA Reports Half Year 2016 Results

Posted on: 25 Aug 16

IBA Reports Half Year 2016 Results

Revenues up 20% - On Track To Meet 2016 Guidance

Louvain-La-Neuve, Belgium, August 25, 2016 - IBA (Ion Beam Applications S.A., EURONEXT), the world's leading provider of proton therapy solutions for the treatment of cancer, today announces its consolidated results for the first half of 2016.

  H1 2016
(EUR 000)
H1 2015
(EUR 000)
(EUR 000)
Sales & Services 145 128 120 997 24 131 19.9%
REBITDA 17 970 14 605 3 365 23.0%
  % of Sales 12.4% 12.1%    
REBIT 15 133 12 614 2 519 20.0%
  % of Sales 10.4% 10.4%    
Net Result 8 297 14 450 -6 153 -42.6%
  % of Sales 5.7% 11.9%    

H1 Financial Highlights

  • Total Group H1 revenues of EUR 145.1 million, up 19.9% (H1 2015: EUR 121 million) - on track to meet full-year 2016 revenue growth guidance of above 20%
  • REBIT up 20% to EUR 15.1 million and margin at 10.4% - on track to achieve 11% FY guidance
  • Reported net profit EUR 8.3 million, down EUR 6.2 million from H1 2015, reflecting large non-recurring income in prior period
  • Strong growth in Proton Therapy and Other Accelerators - H1 order intake up 30.5% to EUR 143.6 million from H1 2015, comprising three Proteus ® ONE* and eight Proteus ® PLUS* rooms (2 solutions), 8 other accelerators and upgrades that represent more than EUR 13 million of order intake for the period
  • High period-end backlog for Proton Therapy and Other Accelerators of EUR 348.6 million, up 15% from H1 2015  and with Proteus ® ONE orders making up 37% of the backlog , demonstrating IBA's unique competitive advantage in fast-growing single room compact solution market
  • Proton Therapy Services backlog of EUR 567.4 million, up 12% from H1 2015
  • Solid Dosimetry backlog of EUR 18.3 million, up from EUR 17.8 million in H1 2015 - H1 revenues down from H1 2015 due to very strong sales level in H1 2015 and slower conversion rate on long-term orders in H1 2016

H1 Business Highlights

  • Growth strategy on track, including staff recruitment and production capacity scale-up to meet proton therapy demand.  The recruitment of 400 engineers is progressing well, with 206 already hired
  • 11 proton therapy rooms sold in H1 confirming IBA's growing leadership in this key market segment
  • Contract signed with Belgium's first proton therapy center to install a Proteus ® ONE
  • Further benefit of Philips collaboration - additional Proteus ® ONE order signed with Proton Partners International and a three-room Proteus ® PLUS in Mumbai, India
  • New contract for a Proteus ® ONE signed with existing customer, University of Florida Health Proton Therapy Institute, associated with an upgrade to its existing proton therapy center with latest technologies
  • Continuing penetration of Chinese market with a contract for a five-room Proteus ® PLUS solution in Qingdao, China - contract not yet included in backlog pending down payment
  • CE mark authorization received for new generation superconducting accelerator for Proteus ® ONE
  • New evolutionary cyclotron launched by IBA at the 2016 Society of Nuclear Medicine and Molecular Imaging (SNMMI) annual meeting in San Diego, California
  • Strengthening of management team with appointment of Jean-Marc Bothy as Chief Strategy Officer and Soumya Chandramoulias Chief Financial Officer

Post Period End Highlights

  • All features for the integrated solution Proteus ® ONE are now FDA approved
  • Investment in HIL Applied Medical Ltd to develop laser-based proton therapy solution
  • First worldwide clinical implementation of its newly released Dolphin Online Ready Patient QA and Monitoring

Olivier Legrain, Chief Executive Officer of IBA, commented: " The strong first-half performance has demonstrated the continued momentum of proton therapy growth globally, led by the increasing success of Proteus ® ONE, our unique compact solution. The collaboration with HIL announced earlier this week underlines our commitment to constant innovation, identifying new opportunities and technologies that will enable us to deliver ever higher standards while potentially reducing the costs of treatment."

"As demand for our technology grows, so does the IBA team. We are on course to recruit 400 additional specialists that we have targeted as part of our ambitious growth strategy, with more than 50% already selected."

"The order pipeline for the rest of 2016 is strong. With continued demand for our proton therapy solutions and despite challenging times for our Dosimetry business, we are on track to meet our guidance for the full year."

Conference Call Information:
IBA will host a conference call and webcast today at 16:00 CEST / 15:00 BST / 10:00 EDT / 07:00 PDT. Olivier Legrain, Chief Executive Officer, and Soumya Chandramouli, Chief Financial Officer, will host the call which will be conducted in English. The conference call will be webcast live and can be accessed online at: . If you would like to participate in the Q&A, please dial (PIN code 76832733#):

Belgium:  +32 2 404 03 05
UK: +44 207 750 9926
NL: +31 207 133 488
LU: +352 278 601 66
US: +1 914 885 0779
FR: +33 172 040 033

The webcast presentation will be available on the Company's website shortly after the call.

Financial calendar
Third Quarter Business Update : November 17, 2016
Full Year Results 2016 : March 24, 2017

About IBA
IBA (Ion Beam Applications S.A.) is a global medical technology company focused on bringing integrated and innovative solutions for the diagnosis and treatment of cancer. The Company is the worldwide technology leader in the field of proton therapy, the most advanced form of radiation therapy available today. IBA's proton therapy solutions are flexible and adaptable, allowing customers to choose from universal full scale proton therapy centers as well as compact, single room solutions.  In addition, IBA also has a radiation dosimetry business and develops particle accelerators for the medical world and industry.

Headquartered in Belgium and employing about 1,300 people worldwide, IBA has installed solutions across the world. IBA is listed on the pan-European stock exchange EURONEXT. (IBA: Reuters IBAB.BR and Bloomberg IBAB.BB) and more information can be found at:

* Proteus ® PLUS and Proteus ® ONE are the brand names of new configurations of the Proteus ® 235

For further information please contact:


Investor Relations
Jean-Marc Bothy
Chief Strategy Officer
Soumya Chandramouli
Chief Financial Officer
+32 10 475 890


Media Relations
Thomas Ralet
Vice-President Corporate Communication
+32 10 475 890
For media and investor enquiries:


Consilium Strategic Communications
Jonathan Birt, Matthew Neal, Ivar Milligan
+44 (0) 20 3709 5700


Rx Communications Group (US)
Melody Carey
+ 1 917 322 2571

Full Press Release Half Year 2016 Results with Operating Review

This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.

The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.

Source: IBA SA via GlobeNewswire

Last updated on: 26/08/2016

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