Ion Beam Applications: IBA Business Update – Third Quarter 2022


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

Group presentation

  • Business operations continue to be strong, with good performance across all four business units

  • Group exceptional order intake of €260 million as of September 30 for 2022 year-to-date, compared to €133 million for the first nine months of 2021, driven by strong performance across the business, in particular within industrial solutions

  • The order book remains high at 1.2 billion euros and new calls for tenders continue to progress internationally for all business units

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

Olivier Legrain, Chief Executive Officer of IBA comments: “IBA continued to deliver strong performance in the third quarter across all of its business units, both in terms of contracts won, technological advancements and supported by targeted value-enhancing acquisitions. unit reaching a key milestone of 100 million euros in order intake so far this year. In the field of proton therapy, we are seeing favorable changes in market dynamics with growing demand in all regions of the world, which has enabled IBA to win strategically important and high-value contracts. some challenges remain, the strategies and investments we are making are having a positive impact and we are confident in the Group’s long-term performance, underpinned by a strong balance sheet which we will continue to use to invest in future growth.”

proton therapy

  • 24 ongoing proton therapy projects, including 9 Proteus®PLUS[1] and 15 Proteus®ONE1 systems in progress

  • An active global pipeline, highlighting the strength of the proton therapy market across all geographies

  • A total of 40 service contracts now generating recurring revenue worldwide

  • IBA has qualified as the sole supplier for the second major tender to supply ten proton therapy units across Spain

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

  • Collaboration agreement signed with Apollo Hospitals Enterprise Ltd (AHEL)

  • The PROTECT-trial consortium has recruited the first patient in a trial of proton therapy in esophageal cancer

Other Accelerators (RadioPharma, Industrial)

  • The other accelerators continued to perform well 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 for the same period last year

  • Exceptional performance from Industrial Solutions, with business hitting €100m year-to-date milestone

  • Collaboration agreement reached 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 Rhodotron® Electron Beam Accelerators for commercial production of radioisotopes

  • Launch of Pantera, a joint venture with SCK CEN to produce actinium-225, one of the most promising alpha-emitting radioisotopes in the fight against cancer

  • Contract for the installation of an integrated radiopharmaceutical production unit in Georgia, signed after the end of the period

  • Post-period, contract signed with Sweden Ghana Medical Center for an IntegraLab® PLUS in Ghana


  • Signature of a strategic alliance for radiotherapy dosimetry solutions with ScandiDos AB (SDOS.ST) and acquisition of a minority investment in the company

  • IBA’s dosimetry solutions have been made compatible with Halcyon® and Ethos™ radiotherapy and adaptive therapy solutions, after the end of the period

  • Extension of IBA’s myQA® iON technology to radiotherapy, after the end of the period


IBA has continued to perform well across all of its business units in 2022 so far and this momentum is expected to continue through the end of the year and beyond. The pipeline remains very active in all activities, which strengthens visibility for the period ahead. While some supply chain and inflation challenges remain, we are seeing gradual improvements and as a business we continue to ease macroeconomic pressures. With an exceptionally strong balance sheet, we are continuing our extensive investment plan to strengthen our infrastructure, supply chain and logistics, reinforce our digital ambitions and continue to maintain our cutting-edge technology. At the same time, we will seek to seek value creation opportunities to drive future sustainable growth.

Financial calendar

2023 annual results March 23, 2023
Business Update First Quarter 2023 May 18, 2023
General meeting June 14, 2023

About IBA
IBA (Ion Beam Applications SA) is the world leader in particle accelerator technology. The company is the leading provider of equipment and services in the field of proton therapy, considered the most advanced form of radiotherapy available today. IBA is also a leading player in the fields of industrial sterilization, radiopharmacy 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).

[1] Proteus®PLUS and Proteus®ONE are trademarks of Proteus 235

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


IBA – Ion Beam Applications SA published this content on November 17, 2022 and is solely responsible for the information contained therein. Distributed by Audienceunedited and unmodified, on November 17, 2022 05:48:01 UTC.

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360 million
360 million
Net income 2022 12.3 million
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