IBA First Look: Slow backlog conversion results in net loss of € 27.3m
1H23 sales increased by 5.9% to € 169.4m, or well below kbcse of € 216m, driven by backlog conversion delays at PT and OA. This was however somewhat countered by a nice increase in service revenues and growing momentum at Dosimetry. However, given the sizeable backlog conversion miss and investments to prepare for the next quarters, group REBIT turned negative € 20.3m, or well below or estimate of + € 5.5m.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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