In This Article:
Read the entire full year 2024 results press release here
Louvain-la-Neuve, Belgium, 20 March 2025 - IBA (Ion Beam Applications S.A), the world leader in particle accelerator technology, today announces its consolidated results for the 2024 financial year.
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Record-high revenue and return to profitability in 2024 driven by well-executed backlog conversion
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Net sales rose 7% to €498.2 million1, with Other Accelerators increasing by 18%
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Gross margin improvement to 33.3% vs. 28.8% in 2023, driven by higher share of Other Accelerators and margin improvement in Proton Therapy
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REBIT at €17.3 million, up 170% (FY 2023: €6.4 million) mostly from well-executed backlog conversion, especially in Other Accelerators (+€11 million REBIT YoY), including continued investments in future growth and R&D innovation
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Net result of €9.3 million compared to a net loss of €9.1 million in 2023
| (EUR Million) | FY 20241 | FY 20231 | % change |
| Total net sales | 498.2 | 466.7 | 7% |
| Proton Therapy* | 242.1 | 239.6 | 1% |
| Other Accelerators | 194.2 | 164.7 | 18% |
| Dosimetry* | 65.9 | 65.9 | 0% |
| Intercompany elimination | -4.0 | -3.6 |
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| Gross profit | 166.0 | 134.4 | 23% |
| Gross margin | 33.3% | 28.8% |
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| REBITDA | 32.0 | 19.3 | 66% |
| REBITDA margin | 6.4% | 4.1% |
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| REBIT | 17.3 | 6.4 | 170% |
| REBIT margin | 3.5% | 1.4% |
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| Profit before tax | 14.9 | -0.0 |
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| Pretax profit margin | 3.0% | -0.1% |
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| Net result | 9.3 | -9.1 |
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| Net margin | 1.9% | -2.0% |
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* Including intercompany
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Sustained growth in equipment order intake (+11% YoY) with a strong year from Other Accelerators (+43%). Proton Therapy order intake gained momentum in Q4 (5 accelerator systems sold in 2024)
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Backlog stable at all-time high with €1.5 billion, providing significant visibility for the future
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Strong balance sheet reflected in €33.5 million net cash position at year-end and access to €60 million undrawn credit lines
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Continued investment in future value creation, in particular PanTera securing an over-subscribed Series A round valuing the company at approximately €280 million post money. This funding round aims to accelerate global Actinium-225 production
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New segment reporting following updated organization structure in three focused entities: IBA Clinical, IBA Technologies and IBA Corporate. New reporting will be applied as of 2025 with 2024 pro-forma available in Section III
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CFO transition: Henri de Romrée, Deputy CEO, appointed interim CFO following the departure of Soumya Chandramouli
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Updated mid-term outlook: 2024-28 revenue CAGR of 5-7% with c.10% REBIT margin by 2028; and 2025 guidance: REBIT of at least EUR 25 million supported by improved performance predictability linked to high backlog and growing recurring services revenue