IBA Business Update – Third Quarter 2022



Leuven-La-Neuve, Belgium, November 17, 2022 – IBA (Ion Beam Applications SA, EURONEXT), the global leader in particle accelerator technology, today announces its business update for the third quarter ended September 30, 2022.

group overview

  • Business operations remain strong with good performance in all four business areas

  • Exceptional Group order intake of EUR 260 million as of September 30 for 2022 to date compared to EUR 133 million in the first nine months of 2021, driven by a strong performance across the business, particularly in Industrial Solutions

  • The order book remains high at EUR 1.2 billion and new tenders for all business areas continue to be pushed internationally

  • Strong balance sheet with (unaudited) net cash of 134 million euros (30 June 2022: 137 million)

IBA Chief Executive Officer Olivier Legrain commented: “IBA continued to deliver solid performance across all businesses in the third quarter, both in terms of contract wins, technology advancements and supported by targeted value-added acquisitions. We are particularly pleased with the continued momentum at Industrial Solutions, with the business unit hitting a key milestone of EUR 100 million in new orders this year. Within proton therapy, we are seeing positive market dynamics shifting positively as demand increases in all regions worldwide, leading to IBA winning strategically important, high-value contracts. Looking ahead, the strategies and investments we have made are having a positive impact, while some challenges remain, and we are confident in the Group’s longer-term performance, backed by a strong balance sheet that we continue to use to invest in future growth will. ”

proton therapy

  • 24 ongoing projects in proton therapy with nine Proteus®PLUS1 and 15 Proteus®ONE1 systems in progress

  • An active global pipeline demonstrating the strength of the proton therapy market in all regions

  • A total of 40 service contracts are now generating recurring sales worldwide

  • IBA was the only supplier to qualify for the second round of a major tender to supply ten proton therapy units across Spain

  • Multi-year research collaboration signed for ConformalFLASH with the Fred Hutchinson Cancer Center and the University of Washington (UW), Seattle®2 proton therapy

  • Cooperation agreement signed with Apollo Hospitals Enterprise Ltd (AHEL).

  • The PROTECT study consortium has enrolled the first patient in a study evaluating proton therapy for esophageal cancer

Other accelerators (RadioPharma, Industry)

  • Other accelerators continued to perform strongly in the third quarter, with eight new systems sold during the period. A total of 29 systems were sold in the first nine months of 2022, compared to 23 in the same period last year

  • Exceptional performance by Industrial Solutions, with the company reaching the previous milestone of EUR 100 million in order intake

  • Cooperation agreement with Chengdu New Radiomedicine Technology Co., Ltd (CNRT) to install a cyclone® IKON in Chengdu, Sichuan Province, China

  • Agreement signed with NorthStar Medical Radioisotopes for two additional rhodotrons® Electron beam accelerator for the commercial production of radioisotopes

  • Formation of Pantera, a joint venture with SCK CEN to produce Actinium-225, one of the most promising alpha-emitting radioisotopes for cancer control

  • Contract for the installation of an integrated radiopharmaceutical manufacturing facility in Georgia signed after the period end

  • After the period signed a contract with the Swedish Ghana Medical Center for an IntegraLab® PLUS in Ghana


  • Signed a strategic alliance for radiation therapy dosimetry solutions with ScandiDos AB (SDOS.ST) and invested a minority stake in the company

  • IBA’s dosimetry solutions have been made compatible with Halcyon® and Ethos™ Radiation Therapy and Adaptive Therapy Solutions, after the period ends

  • Advanced myQA from IBA® iON technology into radiotherapy, end of period

IBA has performed well across all of its businesses so far in 2022 and this momentum is expected to continue for the remainder of the year and beyond. The pipeline remains very active across all businesses, which underpins visibility for the period ahead. While some supply chain and inflationary challenges remain, we are seeing gradual improvement and as a company we continue to ease macroeconomic pressures. With an exceptionally strong balance sheet, we continue with our extensive investment plan to strengthen our infrastructure, supply chain and logistics, strengthen our digital ambitions and further maintain our market-leading technology. Alongside this, we will look for value-adding opportunities to drive future sustainable growth.

financial calendar
Full Year Results 2023 March 23, 2023
First Quarter 2023 Business Update May 18, 2023
General Assembly June 14, 2023

About IBA
IBA (Ion Beam Applications SA) is a world leader in particle accelerator technology. The company is the leading provider of equipment and services in the field of proton therapy, which is considered the most advanced form of radiation therapy available today. IBA is also a leading player in industrial sterilization, radiopharmaceuticals and dosimetry. Based in Louvain-la-Neuve, Belgium, the company employs around 1,800 people worldwide. IBA is a certified B Corporation (B Corp) that meets the highest standards of verified social and environmental performance.

IBA is listed on the pan-European exchange EURONEXT (IBA: Reuters IBAB.BR and Bloomberg IBAB.BB).

For more information, see: www.iba-worldwide.com

For more information please contact:

Soumya Chandramouli
+32 10 475 890
[email protected]

Olivier Lechien
Head of Corporate Communications
+32 10 475 890
[email protected]

For media and investor inquiries:
Consilium Strategic Communication
Amber Fennell, Angela Gray, and Lucy Featherstone
+44 (0) 20 3709 5700
[email protected]

1 proteus®PLUS and Proteus®ONE are brand names of Proteus 235

2 ConformalFLASH® is a registered trademark of IBA’s Proton FLASH irradiation solution, which is currently in the research and development phase.



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