IBA Reports Full Year 2020 Results
25 Mars 2021 - 07:00AM
IBA Reports Full Year 2020 Results
RESILIENT PERFORMANCE ACROSS BUSINESS LINES
GOOD ORDER INTAKE AND RECORD BACKLOG
POSITIVE REBIT AND BOTTOM LINE
STRONG BALANCE SHEET WITH EUR 65 MILLION NET CASH
AT YEAR END
Louvain-la-Neuve, Belgium, 25 March 2021
- IBA (Ion Beam Applications SA), the world’s leading provider of
proton therapy solutions for the treatment of cancer, today
announces its consolidated annual results for the 2020 financial
year.
|
YE 2020 (EUR 000) |
YE 2019 (EUR 000) |
Variance (EUR 000) |
Variance % |
Net Sales |
311 955 |
282 552 |
29 403 |
+10.4% |
Proton Therapy |
189 150 |
158 273 |
30 877 |
+19.5% |
Dosimetry |
51 060 |
53 846 |
-2 786 |
-5.2% |
Other Accelerators |
71
745 |
70
433 |
1
312 |
+1.9% |
|
|
|
|
|
REBITDA |
55 985 |
12 459 |
43 526 |
+349% |
% of Sales |
17.9% |
+4.4% |
|
|
REBIT |
40 406 |
87 |
40 319 |
46 344% |
% of Sales |
13.0% |
0.0% |
|
|
Profit Before Tax |
33 054 |
10 766 |
22 288 |
+207% |
% of Sales |
10.6% |
+3.8% |
|
|
NET RESULT |
31 921 |
7 610 |
24 311 |
319% |
% of Sales |
10.2% |
+2.7% |
|
|
|
Olivier Legrain, Chief Executive Officer of
IBA commented: “I am very proud of IBA’s good
performance and resilience in what has been a challenging year
globally. Our long-term strategy aims to build upon our solid
business foundation to create sustainable growth and profitability,
delivering the very best offering and services to our customers,
whilst being a responsible corporate citizen. Our roadmap to
achieve this across all four of our business lines is clear:
capitalize on our market leading position globally, invest for
strategic impact and deliver operational execution.
“A key strategic growth market for us is Asia,
particularly China, and we were pleased to sign two significant
proton therapy deals in the region in the second half of 2020, as
well as a strategic partnership with CGNNT in China. We also
delivered strong sales in this region for our Industrial,
RadioPharma and Dosimetry businesses. This momentum has continued
in 2021, with IBA being selected for the supply of a new
Proteus®PLUS solution in China.
“Our pipeline continues to be encouraging and
overall, order intake across all business units remains buoyant.
This, coupled with our growing recurring revenues in Services and
Dosimetry, provides us with confidence for the future. I am
grateful for the incredible work of the IBA team over the past
year, as well as the continued support of our customers. With a
healthy balance sheet and the long-term potential for market
development across all four of our businesses, we enter 2021 in a
confident position.”
Financial summary
- Total order intake of EUR 112 million for Proton Therapy and
Other Accelerators (excluding CGNNT contract) and EUR 54 million
for Dosimetry
- Total 2020 Group revenues of EUR 312 million, up 10.4%,
strongly boosted by the strategic licensing deal with CGN Nuclear
Technology Application Co Ltd (CGNNT)
- Strong growth in Proton Therapy Services for the third
consecutive year, up 7.2% from 2019
- Equipment and Services backlog conversion delayed due to
effects of pandemic but remains at all time high of EUR 1.1
billion
- Significant increase to full year REBIT, with a profit of EUR
40.4 million (2019: EUR 0.1 million)
- Total Group net profit of EUR 31.9 million (2019: EUR 7.6
million)
- Very strong balance sheet with EUR 151.3 million gross cash
(2019: EUR 46 million) and EUR 65.2 million net cash position
(2019: net debt of EUR -21.3 million), with all bank covenants met
at year-end
- Total direct COVID-19 impact for 2020 estimated to be around
EUR 15 million
- The Board of Directors will recommend to the annual general
assembly the distribution of a total dividend of EUR 0.2 per share,
in line with the transition to a new dividend policy
Business summary
- Proteus®PLUS* licensing deal with Chinese partner CGNNT worth
minimum of EUR 100 million announced during the year, with EUR 63.5
million revenues recognized in 2020
- Four-room contract for a Proteus®PLUS Proton Therapy Solution
announced in Chengdu, Sichuan Province, China
- Contract signed with the National Cancer Center (NCC) Korea for
a Proteus®ONE* solution, following a competitive tender process.
NCC is already an IBA customer, having previously purchased a
three-room Proteus®PLUS solution
- Strong order intake for Other Accelerators with 17 systems
sold, of which 12 were signed in the second half
- Resilient performance of Dosimetry with a strong order intake
in the year to date, up 10% from 2019
- Strong cost control measures still in place, partially
offsetting COVID-19 related impact, whilst allowing for strategic
investments in R&D
- Board strengthened with appointment of Ms. Christine Dubus
and Dr Richard Hausmann as Non-Executive Directors
Post-period highlights
- In January, IBA was selected for the supply of a multi-room
Proteus®PLUS solution in China, with contract negotiations
ongoing
- In February, IBA received the third payment related to the
CGNNT contract, for EUR 20 million, bringing total cash received to
date on this contract to EUR 70 million
- In March, IBA received the first down payment on the NCC Korea
contract signed in December 2020.
***ENDS***
A conference call will be held on
Thursday, 25 March 2021 at 3pm CET / 2pm GMT / 10am EDT /
7am PDT and can be accessed online at:
http://arkadinemea-events.adobeconnect.com/iba250321/event/registration.html
If you would like to participate in the Q&A, please dial (PIN
code 24698548#):
Belgium:
+32 2 403 58
16UK:
+44 20 71 94 37
59NL:
+31 207 09 51
19LU:
+352 2 730 01
63US:
+1 64 67 22 49
16FR:
+33 1 72 72 74 03
The presentation will be available on IBA’s
investor relations website and
on:https://iba-worldwide.com/content/iba-full-year-2020-results-web-conference
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 Business Update First
Quarter 2021
20 May 2021General
Assembly
9 June, 2021Half Year 2021
Results
25 August 2021Business Update Third Quarter
2021
18 November 2021
About IBAIBA (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:
IBASoumya ChandramouliChief Financial
Officer+32 10 475 890Investorrelations@iba-group.com
Olivier LechienCorporate Communication
Director+32 10 475 890communication@iba-group.com
For media and investor enquiries: Consilium Strategic
Communications Amber Fennell, Angela Gray, Lucy Featherstone +44
(0) 20 3709 5700 IBA@consilium-comms.com
- 210325-IBA-Full-Year-2020_EN
Ion Beam Applications (EU:IBAB)
Graphique Historique de l'Action
De Fév 2024 à Mar 2024
Ion Beam Applications (EU:IBAB)
Graphique Historique de l'Action
De Mar 2023 à Mar 2024