IBA SA : IBA Reports Half Year Results for 2017
24 Août 2017 - 7:00AM
IBA Reports Half
Year Results for 2017
-
Group revenues
up 4.5% to EUR 152 million
-
Growing
backlog in equipment of EUR 321 million and services backlog of EUR
689 million, up 21%
To read the full 2017 half year
results press release with the operating review,please click on
this link
Louvain-La-Neuve, Belgium, August 24, 2017 -
IBA (Ion Beam Applications SA, 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
2017.
|
H1 2017
(EUR 000) |
H1 2016
(EUR 000) |
Variance
(EUR 000) |
Variance
% |
Sales & services |
151
613 |
145
128 |
6
485 |
4.5% |
REBITDA |
5
264 |
17
970 |
-12
706 |
-70.7% |
% of sales |
3.5% |
12.4% |
|
|
REBIT |
1
901 |
15
133 |
-13
232 |
-87.4% |
% of sales |
1.3% |
10.4% |
|
|
Net result |
-4
655 |
8
297 |
-12
952 |
-156.1% |
% of sales |
-3.1% |
5.7% |
|
|
Financial
highlights
-
Total Group H1 revenues of EUR 151.6 million, up
4.5% (H1 2016: EUR 145.1 million) impacted by Proton Therapy
project delays
-
Proton Therapy and Other Accelerators revenue of
EUR 123.3 million, up 1.7%
-
Dosimetry revenue up 18.7% to EUR 28.4
million
-
REBIT margin of 1.3% impacted by slow order
intake, revenue recognition delays and one off exceptional
items
-
Over EUR 1 billion equipment and service backlog
comprising a growing period-end equipment backlog for Proton
Therapy and Other Accelerators of EUR 321 million and growing
services backlog of EUR 689 million, up 21% from H1 2016
-
Gross cash of EUR 50 million and net cash
position of EUR 21.2 million
-
Guidance updated to:
-
FY17: 5-10% revenue growth and a low to
mid-single digit REBIT margin
-
2018/2019: flat to mid-single digit revenue
growth and a mid to high single digit REBIT margin
-
Mid-term: High single-digit to low double-digit
revenue growth and 13 to 15% REBIT margin
-
Dividend policy remains unchanged
Business
highlights
-
H1 order intake comprising two
Proteus®ONE* systems
sold in Egypt and Spain and one Proteus®PLUS* solution
sold in Virginia, USA
-
Completion of review into Proton Therapy project
management; enhanced systems in place and all projects on track
with revised timelines
-
Updated guidelines from the American Society for
Radiation Oncology (ASTRO) and National Comprehensive Cancer
Network (NCCN) further endorse proton therapy as a treatment option
in the fight against cancer
Olivier Legrain,
Chief Executive Officer of IBA SA commented: "Whilst the first
half of 2017 has been challenging for IBA, we have worked
tirelessly to rectify the issues with project management, including
enhanced systems to manage the risk profile of projects, the
creation of dedicated regional project management, improved
internal processes and discussions with dedicated construction
partners. We are encouraged by our strong pipeline and a backlog of
equipment and services which now stands at over EUR 1 billion and
are pleased with the strong growth from our Dosimetry business over
the period.
"The prospects for the proton therapy market remain strong, we have
a burgeoning pipeline and the recent update of ASTRO and NCCN
guidelines demonstrate the growing acceptance of proton therapy as
a treatment modality for cancer. However, following on from a
period of intense growth, the first half of 2017 has been slower,
in line with the customary lumpiness which characterizes the proton
therapy market. This combined with the increasing competition in
the market is leading to limited visibility on the timing of new
orders. However, IBA is optimally positioned to capitalize on the
prospects on the proton therapy market and retains its focus on
driving projects forward and leading the market with the most
attractive proton therapy offering."
***ENDS***
A conference call to discuss the trading update
will be held today at 15:00 CEST / 14:00 BST /
09:00 EDT / 06:00 PDT and can be accessed
online at:
http://arkadinemea-events.adobeconnect.com/iba2408/event/registration.html
If you would like to participate in the Q&A,
please dial (PIN code 83701447#):
Belgium:
+32 2 402 96 40
UK:
+44 20 304 32 440
NL:
+31 10 713 81 94
LU:
+352 20 88 06 96
US:
+1 64 67 22 49 07
FR:
+33 1 72 00 15 10
The presentation will be available on IBA's
investor relations website and on
https://iba-worldwide.com/content/half-year-2017-results-web-conference-and-presentation
shortly before the call.
To ensure a timely connection, it is recommended
that users register at least 10 minutes prior to the scheduled
webcast.
Financial calendar
Third Quarter Business
Update November 16,
2017
Full Year Results
2017
March 22, 2018
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, considered to be 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 1,500 people
worldwide, IBA has installed systems across the world.
IBA is listed on the pan-European stock exchange
NYSE EURONEXT (IBA: Reuters IBAB.BR and Bloomberg IBAB.BB). More
information can be found at: www.iba-worldwide.com
*Proteus®ONE and
Proteus®PLUS are brand
names of Proteus 235
For further
information, please contact:
IBA
Bernard Dandoy
Investor Relations
Soumya Chandramouli
Chief Financial Officer
+32 10 475 890
Investorrelations@iba-group.com
Thomas
Ralet
Vice-President Corporate Communication
+32 10 475 890
communication@iba-group.com
For media and
investor enquiries:
Consilium Strategic Communications
Amber Fennell, Matthew Neal, Ivar Milligan
+44 (0) 20 3709 5700
IBA@consilium-comms.com
170824-IBA-Half_Year_2017_Results-EN
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announcement is distributed by Nasdaq Corporate Solutions on behalf
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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
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