IBA reports Half Year 2026 results, on track with its improved profitability trajectory
Louvain-la-Neuve, Belgium, 27 August 2026, 7 a.m. - IBA (Ion Beam Applications S.A.), today announces its consolidated results for the first half of 2026, with performance on track with FY 2026 guidance and continued progress towards its profitability improvement trajectory. The period was marked by strong commercial momentum, notably in Proton Therapy and RadioPharma Solutions, as well as the strengthening of IBA’s leadership team and Board to support the Group’s growth and execution of its strategic roadmap.
- Sustained growing revenue and enhanced profitability in H1, marked by positive net result
-
- Net sales rose 6% vs. H1 2025, to €323.7 million, thanks to well-executed backlog conversion across segments
- Gross margin increased to 33.7% vs. 29.5% in H1 2025, driven by equipment profitability mix and improved execution in Proton Therapy, both in project delivery and customer service.
- Adjusted EBIT increased to €17.6 million vs. €10.6 million in H1 2025, thanks to the continued turnaround of Proton Therapy with a strong Adjusted EBIT contribution of €12.3 million. Group OpEx under control at 28.7% of total sales, with continued investments in R&D and higher G&A supporting the Group’s growth.
- Net result increased to €9.3 million, compared with a net loss of €2.6 million in H1 2025, resulting in Earnings per Share of € 0.32
| (EUR Million) | H1 2026 | H1 2025 | % change |
| Total net sales | 323.7 | 304.9 | 6% |
| IBA Clinical | 196.8 | 189.5 | 4% |
| IBA Technologies | 127.0 | 115.4 | 10% |
| Gross profit | 108.9 | 90.0 | 21% |
| Gross margin | 33.7% | 29.5% | |
| OpEx | 92.8 | 79.4 | 17% |
| Other operating gain | 1.51 | 0 | |
| Adjusted EBITDA | 26.6 | 16.4 | 63% |
| Adjusted EBITDA margin | 8.2% | 5.4% | |
| Adjusted EBIT | 17.6 | 10.6 | 66% |
| Adjusted EBIT margin | 5.4% | 3.5% | |
| Profit before tax | 12.3 | 1.2 | 920% |
| Pretax profit margin | 3.8% | 0.4% | |
| Net result | 9.3 | -2.6 | |
| Net margin | 2.9% | -0.9% |
- FY2026 adjusted EBIT guidance reiterated to at least €32 million, reflecting confidence in the Group’s full-year outlook
- Strong growth in equipment order intake, landing at €176 million (+64% vs. H1 2025), thanks to IBA Clinical which more than doubled to €148 million (+176%), driven by sustained adoption momentum in proton therapy with five rooms sold over the period. IBA Technologies recorded an equipment order intake of €28 million, reflecting persistent overcapacity in Industrial Solutions’ market despite an active pipeline, and offset by a solid commercial traction in RadioPharma Solutions businesses.
- Backlog stable at €1.6 billion, including €0.75 billion and €0.812 billion in equipment and services backlog respectively. Two-year rolling equipment book-to-bill at 0.9x (vs. 1.0x at 2025 year-end), given the strong backlog conversion.
- Net debt position increased to €81 million as of June 30, 2026 (vs. €57 million in March 31, 2026), mainly reflecting working capital movements, with important project milestones collections shifting beyond period-end and temporary invoicing delays linked to the ERP migration. Nevertheless, the Group retains ample access to committed credit lines, with €10 million of revolving credit facilities used. Net financial position is expected to improve over 2027.
- Leadership team and Board strengthened to support IBA’s growth phase. Olivier Legrain, Chief Executive Officer, was appointed Vice-Chairman of the Board of Directors, while Henri de Romrée, Deputy CEO, has now assumed the strategic and operational responsibility for all Group activities. Catherine Vandenborre was appointed Chief Ventures & Corporate Officer. The Board also welcomed two new directors, Joyce Hansen and Dr. Stephen Hahn, bringing international expertise in sterilization science, oncology and regulatory affairs.
- PanTera obtained recognition as a c-GMP3 producer of actinium-225, and its regulatory files are now referenced in clinical trial applications in both the US and Europe, supporting later phase clinical development. The company also announced the expansion of its collaboration with TerraPower Isotopes, supported by the Institut des Radioéléments, to triple its production capacity in Belgium.
Olivier Legrain, Chief Executive Officer of IBA, commented: “IBA delivered a solid first half of 2026, on track with our full-year guidance and supported by continued commercial momentum in Proton Therapy and RadioPharma Solutions. Proton Therapy continued to improve its profitability contribution, reflecting the benefits of scale, execution and growing service activity, while Dosimetry remains under pressure as cost-reduction measures progressively take effect. With strengthened leadership and Board governance, we remain focused on executing our roadmap and delivering sustainable growth.”
1 €1.5 million one-off gain related to the resolution of two specific business claims in IBA Clinical
2 includes contracts upgrades
3 Current Good Manufacturing Practice
IBA’s management team will host a conference call and webcast conducted in English to present the half year results, followed by a Q&A session.
The conference call will be held on Thursday, 27 August 2026 at 3 p.m. CEST / 2 p.m. BST / 9 a.m. EDT / 6 a.m. PDT. To attend the webcast, register via this link.
The presentation will be available on IBA’s investor relations website and on: https://www.iba-worldwide.com/iba-half-year-2026-results-presentation-and-press-release shortly before the call.
To ensure a timely connection, it is recommended that users register at least 15 minutes prior to the scheduled webcast.
Financial calendar
Business Update Third Quarter 2026 26 November 2026
Full Year Results 2026 18 March 2027
Business Update First Quarter 2027 13 May 2027
Half Year Results 2027 29 July 2027
About IBA
IBA (Ion Beam Applications S.A.) is the world leader in particle accelerator technology. The company is the leading supplier of equipment and services in the fields of proton therapy, considered as one of the most advanced forms of radiation therapy available today, as well as industrial sterilization, radiopharmaceuticals and dosimetry. The company, based in Louvain-la-Neuve, Belgium, employs approximately 2,300 people worldwide. IBA is a certified B Corporation (B Corp) meeting the highest standards of verified social and environmental performance.
IBA is listed on the pan-European stock exchange EURONEXT (IBA: Reuters IBAB.BR and Bloomberg IBAB.BB). More information can be found at: www.iba-worldwide.com
For further information, please contact:
| Thomas Pevenage Head of Investor Relations +32 10 475 890 investorrelations@iba-group.com | Nathalie van Ypersele Head of Communication and Sustainability Daniel Ernult Corporate Communication Manager +32 10 475 890 communication@iba-group.com |
Attachment
