Slide 1: IBA Half Year Results 2021
© 2021 IBA SA IBA Half Year Results 2021 August 25, 2021 Olivier Legrain, CEO and Soumya Chandramouli, CFO
Slide 2: Disclaimer
Disclaimer This presentation may contain forward-looking statements concerning industry outlook, including growth drivers, the company’s future orders, revenues, backlog, or earnings growth; future financial results; market acceptance of or transition to new products or technology and any statements
Slide 3: Agenda
Agenda ▪ Business overview ▪ H1 2021 overview ▪ Business update ▪ Consolidated financial statements ▪ Outlook ▪ Financial calendar ▪ Q&As 3
Slide 4: Global leader in particle beam technology
Global leader in particle beam technology Proton Therapy > proton beam cancer radiotherapy equipment & services RadioPharma Solutions > radiopharmaceuticals & radiochemistry solutions Industrial Solutions > ion beam sterilization industry Dosimetry > quality assurance for medical imaging & radiother
Slide 5: Global leader in particle beam technology
Global leader in particle beam technology Years of world- Pioneer in particle Accelerators Patents 35 class experience accelerators 550+ in operation 500+ PROTON THERAPY OTHER ACCELERATORS DOSIMETRY Proton Therapy Radiopharma Sterilization PT Dosimetry N°1 Solutions N°1 Solutions N°1 Solutions N°1 S
Slide 6: Acting as a benefit corporation
Acting as a benefit corporation Committed to impactful Environment, Social & Governance goals ▪ Carbon neutral by 2030 ▪ Investing 10% of revenues in R&D ▪ Significant impact in the diagnosis and treatment of cancer, cardiovascular and neurodegenerative disorders ▪ Committed to providing a safe, equ
Slide 7: H1 2021 Overview
H1 2021 Overview 7
Slide 8: H1 2021 overview (incl. post-period end)
H1 2021 overview (incl. post-period end) ▪ 1 5-room Proteus®PLUS signed in China, 1 Proteus ®ONE under negotiation in the US, 14 machines in OA and 4 more signed post period end ▪ Dosimetry has also been resilient with a solid order intake in the year to date at same level as 2020 ▪ 1 new installati
Slide 9: H1 2021 overview (incl. post-period end)
H1 2021 overview (incl. post-period end) ▪ 2021 Share buyback programme launched end June 2021 for total of 250 000 shares ▪ New high energy cyclotron IKON launched for new applications, including theranostics ▪ Global DynamicARC®* Consortium initiated for the roll-out of Proton Arc Therapy ▪ Collab
Slide 10: 2021 H1 financial highlights
2021 H1 financial highlights Revenues REBIT Record Equipment and Service Backlog PT Service contracts 5 Gross Cash EUR PT rooms sold EUR EUR EUR 145 137 Million 0.7 Million 1.1 Billion 55 14 Million Net Cash OA systems sold EUR Net profit PT and OA Equipment Equipment 69 Million revenues order intak
Slide 11: IBA Group – H1 2021
IBA Group – H1 2021 ▪ Group first half sales were EUR 137 million, up 25% on the same period last year, largely due to increased H1 2021 H1 2020 Variance Variance activity and backlog conversion over H1 vs last year (EUR 000) (EUR 000) (EUR 000) % affected by COVID Net Sales 137 183 109 733 27 450 2
Slide 12: H1 2021 business and financial highlights
H1 2021 business and financial highlights Backlog Equipment and Upgrades Backlog PT Service 500 800 744 450 429 673 689 691 666 687 700 400 379 382 600 575 350 332 336 283 500 468 300 278 249 244 256 240 383 250 400 193 184 200 179 300 150 200 100 50 100 22 28 35 42 45 48 52 53 55 0 0 2008 2009 2010
Slide 13: Proton Therapy & Other Accelerators
Proton Therapy & Other Accelerators H1 2021 update 13
Slide 14: Proton Therapy & Other Accelerators
Proton Therapy & Other Accelerators ▪ Sales up 29.5% from last year, reflecting improving backlog conversion despite persistent travel difficulties H1 2021 H1 2020 Variance Variance (EUR 000) (EUR 000) (EUR 000) % ▪ Strong improvement in REBIT reflects Net Sales 110 758 85 541 25 217 29.5% backlog c
Slide 15: Proton Therapy & Other Accelerators
Proton Therapy & Other Accelerators ▪ PT equipment revenues improved strongly (+129%) as backlog conversion accelerated H1 2021 H1 2020 Variance Variance • One new order for PT equipment in the first (EUR 000) (EUR 000) (EUR 000) % half of 2021 and one term sheet under negotiation Equipment Proton T
Slide 16: Business Update
Business Update 16
Slide 17: Proton Therapy business update
Proton Therapy business update ▪ Asia • Strategic licensing deal in China with CGNNT on track • 1 contract initiated in H1 ▪ China Proteus®PLUS (5 rooms) ▪ USA • 1 term sheet signed in H1, with contract negotiation ongoing ▪ Installations • 1 new installation started in 2021 in the US, despite the p
Slide 18: IBA remains the market leader in proton therapy
IBA remains the market leader in proton therapy 2021 market share in PT rooms Market share in PT rooms* Sumitomo Pronova Protom 4% 2% 3% Mevion 5% Varian, 3, 38% IBA IBA, 5, 62% 42% Hitachi 21% 134 rooms 318 61 centers Account Name Vendor Clinic Rooms China IBA 5 Wuhan Union Hospital, China Varian 3
Slide 19: Proton Therapy – market trends support future growth
Proton Therapy – market trends support future growth 1 >6x increase in patients treated in 10 years Worldwide, all vendors, Source: PTCOG x6.2 3 Increasing data generation to drive reimbursement Ongoing clinical trials in Proton Therapy, source: ClinicalTrials.gov 2016 2020 6 +183% ▪ Proton Therapy
Slide 20: Proton therapy future innovation
Proton therapy future innovation Making progress with technology critical to the future of PT Motion Management • Treat more patients with confidence • Integration with external partners on surface imaging DynamicARC® Therapy* • More efficient and simple way to deliver PT • New publication of Beaumo
Slide 21: Other Accelerators – H1 2021 business update
Other Accelerators – H1 2021 business update ▪ IBA leads the market thanks to innovative solutions • Sales of 14 systems in H1 2021 • 4 accelerators sold post period • New geographies ▪ New high energy IKON launched in H1 • Offers the highest production capacity enabling increased diagnostic capabil
Slide 22: Dosimetry
Dosimetry H1 2021 update 22
Slide 23: Dosimetry
Dosimetry ▪ Strong H1 for Dosimetry, mostly as conventional RT and medical imaging started H1 2021 H1 2020 Variance Variance to recover from the impact of COVID (EUR 000) (EUR 000) (EUR 000) % ▪ Order intake remained strong at EUR 27 Net sales 26 425 24 192 2 233 9.2% million in line with the same p
Slide 24: Dosimetry – H1 2021 business update
Dosimetry – H1 2021 business update ▪ Order intake at June end in line with last year • Strong order intake in Asia • Confirmation of major market share in dosimetry for proton therapy • Gaining Market share in QA for conventional radio therapy and in Medical Imaging OEM ▪ Innovation • New product l
Slide 25: Consolidated Financial Statements
Consolidated Financial Statements 25
Slide 26: Consolidated P&L
Consolidated P&L ▪ Sales up 25% despite the pandemic as backlog H1 2021 H1 2020 Variance Variance conversion started to recover and strong order (EUR 000) (EUR 000) (EUR 000) % intake in 2020 and 2021 Sales and services 137 183 109 733 27 450 25.0% ▪ Gross margin in absolute value as well as a Cost
Slide 27: H1 2021 Cash Flow Statement
H1 2021 Cash Flow Statement H1 2021 H1 2020 YE 2020 ▪ Positive cash flow from operations, stemming from (EUR 000) (EUR 000) (EUR 000) close management of working capital and backlog conversion progression Cash flow from operating activities Net cash flow changes before changes in working ▪ Sustained
Slide 28: Consolidated Balance Sheet
Consolidated Balance Sheet HYE 2021 YE 2020 Variance HYE 2021 YE 2020 Variance (EUR '000) (EUR '000) (EUR '000) EQUITY AND LIABILITIES (EUR '000) (EUR '000) (EUR '000) Capital stock 42 294 42 294 0 ASSETS Capital surplus 41 978 41 978 0 Goodwill 3 821 3 821 0 Treasury shares -11 393 -5 907 -5 486 Re
Slide 29: Outlook
Outlook 29
Slide 30: Outlook
Outlook • Resilience across all business lines • Healthy order intake in all businesses • Project installations continue, with some COVID-related complexities • Commitment to progressing new tenders internationally, with encouraging pipeline • Services continue to provide stable recurring revenues a
Slide 31: Q&A
Q&A 31
Slide 32: Financial calendar
Financial calendar • ASTRO Capital Markets Day 24-27 October 2021 (TBC) • Business Update Q3 18 November 2021 • Full Year Results 24 March 2022 32
Slide 33: Thank you!
Thank you! Olivier Legrain (CEO) and Soumya Chandramouli (CFO) 33