KBC Securities - Ion Beam Applications SA (IBAB) IBA Key Highlights CMD

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KBC Securities

Michiel Declercq

IBA Key Highlights CMD

During the CMD, IBA provided some extra color on its strategic initiatives and recently issued medium-term guidance. While there is lot of information to digest, we believe management of the different divisions left a good impression on the group's strategic direction and new opportunities in the market. This while at the same time safeguarding the balance sheet and prioritizing profitability. Additionally, IBA also provided some first insights on the tariff impact, which it expects to be mild. Buy, € 18.0 TP.

08/04/2025 1 EN

Underlying

Ion Beam Applications SA

IBA- Ion Beam Applications develops and markets technologies and pharmaceutical products for the healthcare sector, with a focus on cancer diagnosis and therapy. Co. is also engaged in the sterilization and ionization market. Co. operates in two primary business segments: Equipment and Pharmaceuticals. Co.'s Equipment segment encompasses development, fabrication, and services associated with medical and industrial particle accelerators, proton therapy systems, and a range of dosimetry products, while Co.'s Pharmaceuticals segment encompasses the production and distribution of radiopharmaceutical agents as well as its bioassay operations.

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BE0003766806 Euronext Brussels Belgium

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KBC Securities

We are a financial services provider for several types of professional clients, each with distinct needs.

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Analysts

Michiel Declercq

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IBA Key Highlights CMD

We are a financial services provider for several types of professional clients, each with distinct needs.

IBA – ACQUISITION OF OWN SHARES

IBA – ACQUISITION D’ACTIONS PROPRES

US Tariffs Navigating the impact on Benelux equities

Heineken Feedback conference call

Heineken FIRST LOOK: 1Q beer volume -2.1%, FY guidance maintained

ASML Weaker order intake, disappointing 2Q25 outlook, strong GPm

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