IBA Business Update – Third Quarter 2023

Louvain-La-Neuve, Belgium, 16 November 2023 - IBA (Ion Beam Applications S.A., EURONEXT), the world leader in particle accelerator technology, today announces its business update for the third quarter ending 30 September 2023.

Group Overview

• Strong backlog conversion acceleration in the third quarter across all businesses with good momentum to continue into the fourth quarter, reconfirming cyclical nature of business with revenue recognition heavily H2 weighted
• Good equipment order intake at period-end of EUR 151 million, down from exceptional order intake for the first 9 months of 2022 (EUR 260 million). Post-period, several major contracts finalized, bringing current order intake to EUR 203 million
• Backlog remains at a high of EUR 1.3 billion
• Good OPEX management, in line with evolution of first half
• Return to profitability with slightly positive REBIT for Q3 2023
• Overall positive REBIT anticipated for the second half of 2023
• Healthy balance sheet maintained with EUR 58.7 million (unaudited) net cash position (30 June 2023: EUR 61.7 million)
• Henri de Romrée appointed as Chief Strategy Officer
• Mid-term guidance reiterated

Olivier Legrain, Chief Executive Officer of IBA commented: “In line with our expectations and typical second half weighting, we are pleased to see the strong momentum in backlog conversion and revenue recognition over the quarter, with a return to profitability during the period This is expected to continue in the fourth quarter with a positive REBIT expected for the second half.

“Looking forward, IBA continues to explore exciting new fields of application of its world-leading particle accelerator technologies, such as our PanTera venture in theranostics as well as potential environmental solutions for the treatment of forever chemicals (PFAS). Whilst IBA will maintain its core focus on delivery on its existing businesses, we see significant and valuable future opportunities and we are exploring new ways to organize the business to support this. I am pleased to welcome Henri de Romrée to IBA as Chief Strategy Officer to spearhead these efforts and we will provide a further update on this at the time of our full year results.”