Ion Beam Applications Sa · EURONEXT:IBAB
Ion Beam Applications Sa — FY2022 Earnings Presentation
31 slides from Ion Beam Applications Sa's earnings presentation, Mar 23, 2023
Slide 1: IBA Full Year Results 2022
Press Esc to exit tutorial #1 Align shapes on the left IBA Full Year Results 2022 {SHIFT + ALT + LEFT} 23 March 2023 Olivier Legrain, CEO and Soumya Chandramouli, CFO ©2022 Ion Beam Applications SA. All rights reserved. Reproduction of any of the material contained herein in any format or media with
Slide 2: Disclaimer
Disclaimer This presentation may contain forward-looking statements. All statements other than statements of historical facts, including statements regarding IBA’s objectives, plans, goals, strategies, future growth and growth drivers, industry outlook, future orders, revenues, backlog, earnings gro
Slide 3: Agenda
Agenda ▪ 2022 highlights ▪ 2022 key figures ▪ Business update ▪ Consolidated financial statements ▪ Outlook & dividend policy ▪ Financial calendar ▪ Q&A 3
Slide 4: 2022 Highlights
2022 HIGHLIGHTS
Slide 5: 2022 highlights
2022 highlights Revenues REBIT Backlog PT rooms PT & OA equip. Gross cash sold order intake EUR EUR EUR EUR 158 EUR million Net cash 361.3 11.1 1.4 17 456 million million billion rooms million EUR 117 million Gross Net PT & OA OA systems Dosi Proposed margin profit service revenues sold order intake
Slide 6: 2022 key objectives
2022 key objectives Dosimetry Proton Therapy Other Accelerators RadioPharma Industrial ▪ Gain market share in Patient ▪ Deliver our backlog ▪ Partnership with SCK-CEN, ▪ Deliver our backlog QA ▪ Enhance our Customer to distribute 225Ac worldwide ▪ Increase E-Beam/X-Ray ▪ Expand and diversify through
Slide 7: 2022 key achievements
2022 key achievements Dosimetry Proton Therapy Other Accelerators RadioPharma Industrial ▪ Record order intake of ▪ 32 projects under construction ▪ Creation of PanTera ▪ Significant order intake EUR 67 million (+22%) ▪ +48% equipment / +13% services (J-V with SCK-CEN) and revenue growth ▪ Record ba
Slide 8: 2022 sustainability progress
2022 sustainability progress Low carbon, low ▪ Investment in ecodesign practices and lifecycle assessment of our products across the value chain waste products ▪ Comprehensive review of group carbon footprint per product line ▪ CDP score improved to B- from C in 2020 4 STREAMS Low carbon, low ▪ Inc
Slide 9: 2022 Key Figures
2022 KEY FIGURES
Slide 10: 2022 key figures
2022 key figures ▪ Exceptional order intake and strong backlog (EUR 000) FY 2022 FY 2021 Variance Variance % conversion in all businesses Proton Therapy 218 761 169 923 48 838 28.7% ▪ REBIT margin of 3.1% achieved thanks to topline Other Accelerators 88 538 90 715 -2 177 -2.4% growth, but affected b
Slide 11: Business Update: Proton Therapy
BUSINESS UPDATE PROTON THERAPY
Slide 12: Record order intake and backlog
Record order intake and backlog Order intake ▪ 15 Proton Therapy solutions (17 rooms) sold ▪ Proteus®PLUS in China (3) ▪ Proteus®ONE in Spain (10), USA (2), Italy (1) and Russia (1) Installations ▪ 32 installations ongoing at year-end ▪ 3 new installations started in 2022 and 4 completed in 2022, in
Slide 13: IBA remains market leader in proton therapy
IBA remains market leader in proton therapy 71% market share in 2022 42% market share overall 2022 sales of PT rooms PT rooms in operation* Total market share in PT rooms* Protom Pronova Mevion 2% 1% Pronova 4% Protom 1% Siemens SHI SHI 1% 3% SHI; 2 Hitachi; 2 5% 4% Varian; 1 Mevion Mevion; 2 6% Var
Slide 14: Proton Therapy performance
Proton Therapy performance ▪ Order intake of EUR 281 million ▪ Equipment revenues grew 48% ▪ Services increased 13.5%, with backlog of EUR 669 million ▪ Overall revenues grew nearly 29%, thanks to higher production levels, stronger backlog conversion and growing service revenues as well as the indem
Slide 15: Business Update: Other Accelerators
BUSINESS UPDATE OTHER ACCELERATORS
Slide 16: RadioPharma Solutions
RadioPharma Solutions IBA leads the market for radioisotope production accelerators, including high-energy machines Increased market demand ▪ Agreement signed with Chengdu New Radiomedicine Technology (CNRT) for a Cyclone® IKON in Chengdu ▪ IntegraLab® PLUS solution agreed with Sweden Ghana Medical
Slide 17: Industrial Solutions
Industrial Solutions IBA is meeting a significant gap in the sterilization market ▪ Significant growth in order intake and revenue during 2022 ▪ Decrease in supply of ethylene oxide and Gamma irradiation for sterilization ▪ Supply issues leading to strong increase in demand for IBA's X-ray and elect
Slide 18: Other Accelerators performance
Other Accelerators performance ▪ Order intake of EUR 175 million ▪ Equipment revenues decreased to EUR 62.6 million, related to slower backlog conversion ▪ Services increased 9.8% ▪ REBIT* of EUR 6.0 million, impacted by lower backlog conversion and cost increases (EUR 000) FY 2022 FY 2021 Variance
Slide 19: Business Update: Dosimetry
BUSINESS UPDATE DOSIMETRY
Slide 20: Dosimetry business update
Dosimetry business update Expansion of dosimetry footprint ▪ Acquisition of Modus QA, a specialist provider of “phantoms” for quality assurance for radiation therapy ▪ Strategic alliance with QA expert ScandiDos for radiation therapy dosimetry solutions ▪ myQA® iON’s compatibility with LINAC-based r
Slide 21: Dosimetry performance
Dosimetry performance ▪ Strong order intake at EUR 67 million, up 22% ▪ Backlog increased 200% to EUR 32 million ▪ Sales up 3.1% from 2021 ▪ REBIT strongly affected by investment in R&D for the future and cost increases due to supply chain issues (EUR 000) FY 2022 FY 2021 Variance Variance % Net sal
Slide 22: Consolidated Financial Statements
CONSOLIDATED FINANCIAL STATEMENTS
Slide 23: Consolidated P&L
Consolidated P&L ▪ Group sales grew 15%, thanks to proton (EUR 000) FY 2022 FY 2021 Variance Variance % therapy backlog conversion, dosimetry sales, Sales and services 361 270 312 964 48 306 15.4% Cost of sales and services (-) 234 505 205 270 29 235 14.2% overall services and Rutherford indemnities
Slide 24: Consolidated Cash Flow
Consolidated Cash Flow YE 2022 YE 2021 (EUR 000) (EUR 000) Cash flow from operating activities Net cash flow changes before changes in working capital -540 7 714 Change in working capital 26 117 79 244 Income tax paid/received, net -4 418 -1 800 ▪ Operating cash flow of EUR 21.7 million, down Intere
Slide 25: Consolidated Balance Sheet
Consolidated Balance Sheet YE 2022 YE 2021 Variance YE 2022 YE 2021 Variance (EUR '000) (EUR '000) (EUR '000) EQUITY AND LIABILITIES (EUR '000) (EUR '000) (EUR '000) Capital stock 42 502 42 413 89 ASSETS Capital surplus 43 478 42 836 642 Goodwill Treasury shares -18 328 -12 613 -5 715 10 262 3 821 6
Slide 26: Outlook & Dividend Policy
OUTLOOK & DIVIDEND POLICY
Slide 27: Outlook & dividend policy
Outlook & dividend policy Subject to stabilization of macro-economic factors and order intake levels IBA is pleased to provide following mid-term guidance: Target of 15% CAGR 2022-2026 on revenues Aiming to deliver 10% REBIT on sales by 2026, heavily weighted after 2024 CAPEX will grow from current
Slide 28: Financial Calendar
FINANCIAL CALENDAR 28
Slide 29: Financial calendar
Financial calendar ▪ ESTRO Annual Congress - 12-16 May 2023 ▪ Business Update Q1 2023 - 18 May 2023 ▪ General Meeting - 14 June 2023 ▪ Half Year Results - 31 August 2023 ▪ EANM 2023 - 9-13 September 2023 ▪ ASTRO Annual Meeting - 1-4 October 2023 ▪ Business Update Q3 2023 - 16 November 2023 29
Slide 30: Q&A
Q&A 30
Slide 31: Thank you
THANK YOU ©2021 Ion Beam Applications SA. All rights reserved. Reproduction of any of the material contained herein in any format or media without the prior and express written permission of Ion Beam Applications SA is prohibited.