Press release |
TRADING UPDATE, 3RD QUARTER 2011
SALE OF THE FIRST ULTRA-COMPACT PROTONTHERAPY SOLUTION
Louvain-la-Neuve, Belgium, 22 November 2011 – Embargo until 17h40 (Belgian time) IBA (Ion Beam Applications S.A.: Reuters IBAB.BR et Bloomberg IBAB.BB)
FIGURES AND SIGNIFICANT EVENTS
For IBA, the most significant events for the 3rd quarter of 2011 are the following:
EQUIPMENT
- Revenues show a significant growth of 25.9%, compared to the same period in 2010. This results from the good performance in Protontherapy that compensates the slight decrease (-7.1%) recorded in Dosimetry. For the 4th quarter, global perspectives of the segment stay excellent thanks to revenues generated by a portion of the order book recorded in 2010 and 2011. At the end of September 2011, the backlog rises to more than EUR 220 million, giving clear visibility on the next quarters to come.
- On top of the 3 systems sold in the US, Sweden and Germany, IBA booked the first sale of its ultra-compact Protontherapy system, the ProteusOne™ during the 3rd quarter. The first installation in the US of this innovative compact one-room protontherapy solution will add to the care offering proposed by the cancer treatment center Willis-Knighton of Shreveport in the US.
- Even though it has no financial impact on third quarter results, on November 9, it was also announced that the Henryk Niewodniczanski Institute of Nuclear Physics of the Polish Academy of Sciences (IFJ) awarded to IBA the supply of the extension of the IFJ Proton Therapy Center, Krakow, Poland.
PHARMACEUTICALS
- Revenues in the Pharmaceuticals segment are basically stable compared to the same period in 2010. The growth above 5% of the radiopharmaceutical business is compensated by the decrease recorded in the sub-segment Bio-Assays.
- As a reminder, the "Pre-BLA Meeting" for the diagnostic of the kidney cancer, the REDECTANE® took place in the course of the 2nd quarter 2011. The FDA, during this meeting, suggested that WILEX and IBA could consider performing an outcome based study in order to bring additional evidences of the clinical benefits of the product before the filing for approval. In the course of the 3 rd quarter 2011, WILEX and IBA discussed with their medical advisory board the strategy, the timing and the form of the tests to perform. They intend to discuss about it with FDA during the 4th quarter of this year. The FDA also required additional information about the manufacturing process of the REDECTANE®. IBA and WILEX will supply shortly the requested additional information.
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- The investment needed to launch new molecules on the market continues to negatively and significantly impact the profitability of the segment.
- During the 3rd quarter, IBA continued to spend time and efforts, together with its investment banker UBS, to look for a partner in the radiopharmaceutical business in order to help with the financing of its investment plan.
GROUP
- At the end of the 3rd quarter, with consolidated revenues of EUR 292.8 million, IBA shows a growth above 9% compared to last year.
- On September 30, 2011, the net debt of the company amounts EUR 22.6 million, above June 30, 2011 as expected.
GUIDANCE
The operating result at constant rate and constant perimeter should be below that of 2010 mainly due the increase of the spending related to the launch of new radiopharmaceutical tracers with high value added, that depress the financial results in the short to midterm.
For the full year, the company forecasts a net result close to breakeven excluding possible impacts of a change in the consolidation scope.
SHAREHOLDERS' AGENDA
Publication Annual results 2011 15 March 2012 General Assembly 9 May 2012 Interim declaration - first quarter 2012 9 May 2012 Publication of half year results 2012 31 August 2012
DIRECTORS' DECLARATIONS
In accordance with the Royal Decree of 14 November 2007, IBA indicates that this press release has been prepared by the Chief Executive Officer (CEO), Pierre Mottet and the Chief Financial Officer (CFO), Jean-Marc Bothy.
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ABOUT IBA
IBA develops and markets leading-edge technologies, pharmaceuticals and tailor-made solutions for healthcare with a focus on cancer diagnosis and therapy. Leveraging on its scientific expertise, IBA is also active in the field of industrial sterilization and ionization. Listed on the pan-European stock exchange EURONEXT, IBA is included in the BelMid Index.(IBA: Reuters IBAB.BR and Bloomberg IBAB.BB). Website: www.iba-worldwide.com
Contact
IBA
Jean-Marc Bothy Chief Financial Officer Phone: +32 10 47 58 90 Email : [email protected]
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