Ion Beam Applications reported a net profit of €9.3 million for the first half of 2026, turning positive from losses a year earlier, as equipment order intake surged 64% to €176 million.
Adjusted earnings before interest and taxes rose to €17.6 million from €10.6 million in H1 2025, while revenue reached €324 million, exceeding the €320 million guidance threshold by 1.25%. Gross margin expanded by 420 basis points to 33.7%, supported by cost discipline despite a €14 million increase in operating expenses to €93 million.
The proton therapy segment delivered adjusted EBIT of €12.3 million, compared with a €2 million loss in the prior-year period, as global site deployments rose to 93 operational locations. IBA Clinical order intake climbed to €112 million, with 16 rooms sold globally including first installations in Brazil and Portugal. The company secured a 50% market share in China through its partnership with CGN, while system availability remained near 97%.
IBA Technologies, focused on industrial and radiopharma solutions, posted net sales of €127 million. The segment sold 10 systems during the period, with underlying demand for accelerator-based sterilization growing at 6% to 8% annually. The installed cyclotron base has expanded by 75% since 2016, supported by recent contracts in India.
Total group backlog stood at €1.6 billion, including €1.37 billion in IBA Clinical, of which over €800 million is service-related. Net debt increased to €81 million from €58 million at year-end 2025, with a net leverage ratio of 1.14 times adjusted EBITDA. Cash position totaled €44 million.
Management reaffirmed full-year 2026 guidance for adjusted EBIT of at least €32 million, while reiterating long-term targets of a 40% gross margin, 30% operating expense ratio, and 10% EBIT margin.
Shares rose 3.34% to $16.70, extending year-to-date gains to 26% amid a 52-week range of $9.90 to $17.76.
