IBA Reports Full Year 2022 Results



Louvain-la-Neuve, Belgium, 23 March 2023 - IBA (Ion Beam Applications S.A), the world leader in particle accelerator technology, today announces its consolidated results for the 2022 financial year.

(EUR 000) FY 2022 FY 2021 Variance​ Variance %​
Proton Therapy​ 218 761​ 169 923​ 48 838​ 28.7%​
Other Accelerators​ 88 538​ 90 715​ -2 177​ -2.4%​
Dosimetry​ 53 971​ 52 326​ 1 645​ 3.1%​
 Total Net Sales 361 270 312 964 48 467 15.4%
 REBITDA 21 571 24 582 -3 011 -12.2%​
 % of Sales 6.0%​ 7.9%​  ​  ​
 REBIT 11 050 14 510 -3 460 -23.8%​
 % of Sales 3.1%​ 4.6%​  ​  ​
 Profit Before Tax -430 8 255 -8 685 NA​
 % of Sales -0.1%​ 2.6%​  ​  ​
 NET RESULT 6 057 3 879 2 178 56.1%​
 % of Sales 1.7%​ 1.2%​  ​  ​

Financial summary

  • All-time record annual Equipment order intake of EUR 456 million and Dosimetry order intake of EUR 67 million
  • All-time record overall Equipment and Services backlog of EUR 1.4 billion including Equipment backlog of EUR 713 million an Services backlog of EUR 669 million
  • Total 2022 Group revenues up 15% from 2021 to EUR 361.3 million
  • Proton Therapy and Other Accelerators Services revenue increased 12.8% versus last year to EUR 135 million
  • Gross margin was 35.1%, compared to 34.4% in 2021
  • Positive 2022 REBIT of EUR 11.1 million, down from EUR 14.5 million in 2021, due to the high inflationary environment, as well as increased investment into R&D, infrastructure, digital technologies and sustainability to maintain IBA’s leading offering and invest in its future growth
  • Total Group net profit of EUR 6.1 million (2021: EUR 3.9 million), positively impacted by deferred tax assets recognition related to improvement of future profitability
  • Strong balance sheet with EUR 158 million gross and EUR 117 million net cash
  • Mid-term guidance announced and dividend of EUR 0.21 per share proposed by the Board, a 10% increase from last year

Business summary

  • 17 new proton therapy rooms sold in 2022, compared to nine last year
  • Other Accelerators order intake of 36 systems compared to 31 in 2021
  • Dosimetry order intake up 22% to a record EUR 67 million
  • Three new installations in PT and 32 installations in Other Accelerators started during the year with four completed in PT and 20 in Other Accelerators
  • Good progress across IBA’s four strategic sustainability streams: a) low carbon, low waste products b) low carbon, low waste company c) diverse equitable and inclusive workplace and d) accountability towards sustainability

Olivier Legrain, Chief Executive Officer of IBA, commented: “Despite the headwinds from the global macro-economic environment, IBA has seen another strong year, driven by increasing sales across all of its business units and an all-time record order intake and backlog. On the Proton Therapy side, we have seen significant traction in Europe and the US in 2022. In addition, I’m pleased with the continued pace of deals within Industrial Solutions especially, which has continued into the start of 2023. During the year we have also been focused on future-proofing the business with targeted investments to support the Group in executing on its record backlog as well as maintaining our leading market position. With our strong backlog, good revenue visibility and high cash position, we are confident on IBA’s positive outlook for 2023 and beyond.”


Olivier Legrain, Chief Executive Officer, and Soumya Chandramouli, Chief Financial Officer, will host a conference call and webcast to present the full year results, followed by a Q&A session.

The conference call, conducted in English, will be held on Thursday, 23 March 2023 at 3pm CET / 2pm GMT / 10am EDT / 7am PDT as a Teams webinar and can be accessed online via this link.

If you would like to join by phone only, please dial (Phone conference ID 745 901 390#):

Belgium:                           +32 2 890 97 20UK:                                     +44 20 3321 5200NL:                                     +31 20 708 6901LU:                                     +352 27 87 00 02US:                                     +1 347-991-7591FR:                                     +33 1 70 99 53 51

The presentation will be available on IBA’s investor relations website and on:https://www.iba-worldwide.com/content/iba-full-year-2022-results-press-release-publication-date-conference-call-details shortly before the call.

To ensure a timely connection, it is recommended that users register at least 10 minutes prior to the scheduled webcast.

For participants who do not have the Teams application installed, please follow the process described in this link to access the conference.

Financial calendar Business Update Q1 2023                                                  18 May 2023Half Year Results                                                                    31 August 2023Business Update Q3 2022                                                  16 November 2023

About IBA

IBA (Ion Beam Applications S.A.) is the world leader in particle accelerator technology. The company is the leading supplier of equipment and services in the field of proton therapy, considered to be the most advanced form of radiation therapy available today. IBA is also a leading player in the fields of industrial sterilization, radiopharmaceuticals and dosimetry. The company, based in Louvain-la-Neuve, Belgium, employs approximately 1,800 people worldwide. IBA is a certified B Corporation (B Corp) meeting the highest standards of verified social and environmental performance.

IBA is listed on the pan-European stock exchange EURONEXT (IBA: Reuters IBAB.BR and Bloomberg IBAB.BB). More information can be found at: www.iba-worldwide.com

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, Matthew Neal, Lucy Featherstone +44 (0) 20 3709 5700 IBA@consilium-comms.com


  • 230323-IBA-FY22-EN
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