IBA Press Release : IBA BUSINESS UPDATE - THIRD QUARTER 2018
15 Novembre 2018 - 7:00AM
IBA Press Release : IBA BUSINESS UPDATE - THIRD QUARTER 2018
IBA
Business Update - Third Quarter 2018
Proton Therapy and Other Accelerators projects on
track, outlook reiterated
Louvain-La-Neuve, Belgium, 15 November
2018 - IBA (Ion Beam Applications S.A., EURONEXT), the
world’s leading provider of proton therapy solutions for the
treatment of cancer, today announces its business update for the
third quarter ending 30 September 2018.
- 21 international proton therapy projects ongoing, comprising 13
Proteus®ONE and eight Proteus®PLUS.
- Proteus®ONE sold in Singapore, representing the first contract
for this solution in South East Asia and bringing the total sold
year-to-date to six - three contracts are awaiting financing and
one is a term sheet with down payment.
- IBA’s pipeline of new prospective customers considering
investment in proton therapy continues to increase in all regions
with renewed activity in Asia and North America.
- Long-term prospects for the proton therapy market remain strong
with IBA and competitors further raising market awareness and
driving overall growth.
- Continued solid performance of Other Accelerators with the sale
of four systems in Q3, bringing total for first nine months to a
record of 15, plus strong upgrade sales and promising Service
pipeline.
- Strategic review for Dosimetry ongoing with market update
planned by year end, in line with previous announcements.
- Driving towards positive REBIT and net profit after tax for FY
2018.
Olivier
Legrain, Chief Executive Officer of IBA commented: “IBA
has made good progress in the first nine months of the year,
building on our clear status as global market leader in proton
therapy, based on our technologically advanced product offering,
speed of installation and value for money. Although the overall
market has been slower than previous years, we remain confident in
the mid- and long-term potential. Customer interest in all parts of
the world continues to increase as evidenced by recent news in
China and increased activity in the USA, supported by a growing
number of publications reporting the use of proton therapy for the
treatment of cancer for various indications. We are currently
involved in 21 projects, which is considerably more than any other
company in the sector. IBA reiterates its outlook for FY 2018 of
driving towards a positive REBIT and net profit after tax, driven
by a second half weighting, which includes prudent cost controls,
recently signed projects awaiting financing and a strong pipeline
of near-term projects.”
Proton Therapy There are
currently 21 projects and 40 rooms under development, comprising 13
Proteus®ONE and eight Proteus®PLUS. Four projects began to be
installed in H2 2018 and are on schedule. The first patient
treatments were completed in two centers in Q3 (Caen, France and
Toyohashi, Japan). The service business continues to grow, with 29
centers under operation, and based on current activated contracts,
45 centers are expected to be under operation in 2021. We also
received market authorization for Proteus®ONE in Brazil during the
period, expanding our geographical reach.
Proton Therapy MarketIBA has
signed six of the ten sales made in the year to date and the
Company is confident in the long-term prospects of the proton
therapy market. Recent positive developments reinforcing the growth
potential for proton therapy include:
- The recent decision by the Chinese government to invest in ten
additional proton therapy centers in 2019 and 2020; China is a
market where IBA has significant experience and is an important
target for future growth
- Increasing body of publications presenting the benefits of
proton therapy for various indications, on-going use, and
validation of the model-based approach at the University Medical
Center Groningen (UMCG), the Netherlands that show positive early
results.
- Encouraging news on proton therapy coverage in the US as a
major insurance company was found liable and ordered to pay
significant damages for denying proton therapy treatment to a
patient without proper justification.
- New treatment techniques such as ARC and FLASH demonstrate
significant potential patient benefits. At ASTRO in October, IBA
launched the Victoria Advisory Committee, a consortium of worldwide
radiation therapy experts to develop clinically relevant
innovations designed to further improve patient treatment.
More affordable compact systems increasingly
dominate the overall market, and IBA, with its Proteus®One which
includes an open gantry design, is particularly well placed in this
sector and has clear advantages over competitors including:
- Fastest installation time, with the last five installations
completed in less than 12 months
- High patient throughput, with the record mean treatment time of
16 minutes per patient achieved with the Proteus®ONE open gantry
solution (source: Willis-Knighton Cancer Center)
- Broad range of indications, demonstrated by the first 12 months
of operation of the Beaumont Proton Therapy Center, Michigan,
US
DosimetryIBA expects to update
the market on the strategic review of Dosimetry by the end of the
year. The Company has continued to develop its product offering,
with new Dosimetry technologies launched this year, including
SMARTSCAN™, SciMoCa, Blue Phantom PT and MyQA® Daily.
OutlookIBA reiterates its
outlook given at the time of its first half 2018 financial results
publication.
Based on the current market outlook and expected
second-half weighting, IBA continues to drive towards a positive
REBIT and net profit after tax for full-year 2018. This includes
recently signed projects awaiting financing, a strong pipeline of
near-term projects, installations that have started in the second
half and prudent cost controls.
The fundamentals of the proton therapy market
continue to be solid, as demonstrated by the numerous prospects IBA
is pursuing across all global markets. However, the market
continues to show signs of unevenness. IBA remains fully focused on
driving growth whilst absorbing this unpredictability through tight
cost controls and delivering success through strategic
partnerships, continued focus on efficiencies and maintaining the
world’s most competitive and attractive proton therapy
offering.
IBA will remain focused around its two axes for
growth: growing the market by facilitating evidence generation and
creating awareness of the benefits of proton therapy, whilst
improving its affordability, and increasing IBA’s market share with
its superior clinical technology, industry-leading installation
times, proven quality of service and unique ability to completely
upgrade all systems to the latest technology available.
Shareholder's Agenda
Year End results
2018
21 March 2019First Quarter 2019
results
8 May 2019
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 1,400 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
Soumya
ChandramouliChief Financial Officer+32 10
475 890Investorrelations@iba-group.com
Thomas RaletVice-President
Corporate Communication+32 10 475
890communication@iba-group.com
For media and investor
enquiries:
Consilium Strategic
CommunicationsMatthew Neal, Angela Gray, Lizzie Seeley+44
(0) 20 3709 5700IBA@consilium-comms.com
- 181115_IBA-3rd_Quarter_2018-Trading update-EN
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