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) |
Variance
(EUR 000) |
Variance
% |
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
Chandramouli as 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:
http://arkadinemea-events.adobeconnect.com/iba. 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: www.iba-worldwide.com
* Proteus®PLUS and
Proteus®ONE are the
brand names of new configurations of the Proteus®235