May 13, 2020 / 5:38 AM / 18 days ago

BRIEF-IBA's Strong Cash Position Will Help To Manage Impact Of Global Pandemic

May 13 (Reuters) - ION BEAM APPLICATIONS SA:

* IBA BUSINESS UPDATE – FIRST QUARTER 2020

* IS NOT CURRENTLY ABLE TO RELIABLY GUIDE ON FY20 FINANCIAL PERFORMANCE DUE TO ONGOING UNCERTAINTY BUT WILL UPDATE MARKET ON THIS SITUATION AS SOON AS POSSIBLE

* BUSINESS OPERATIONS IN Q1 REMAINED SOLID WITH SOME INEVITABLE DELAYS IN INSTALLATION OF PROJECTS STARTING TO EMERGE AS A RESULT OF COVID-19 PANDEMIC

* ON COVID-19: IN RESPONSE TO THE COVID-19 PANDEMIC, IBA CONTINUES TO PROACTIVELY TAKE STEPS TO PROTECT ITS EMPLOYEES AND OTHER STAKEHOLDERS, WHILE MINIMIZING DISRUPTION TO ITS BUSINESS ACTIVITIES

* IN SPITE OF ONGOING CRISIS, ALL OF IBA’S OPERATING PROTON THERAPY CENTERS CONTINUE TO TREAT PATIENTS WITH SERVICES BUSINESS REMAINING AT NORMAL LEVELS

* ENTERED 2020 WITH A STRONG BALANCE SHEET AND EXCELLENT CASH POSITION THAT HAS BEEN MAINTAINED OVER Q1

* IBA’S BACKLOG REMAINS VERY HIGH AT EUR 1.1 BILLION

* THIS FINANCIAL POSITION IS EXPECTED TO REMAIN COMFORTABLE IN MEDIUM TERM WITH A NUMBER OF SAFEGUARDING MEASURES IMPLEMENTED TO CONSERVE CASH

* HAVE AND WILL CONTINUE TO EXPERIENCE SOME INEVITABLE DELAYS IN PARTS OF OUR BUSINESS DUE TO COVID-19

* ON COVID-19: NO MATERIAL DISRUPTION TO PRODUCTION

* ON COVID-19: ALTHOUGH SOME DISRUPTION FROM COVID-19 IS EXPECTED TO IMPACT THE BUSINESS GOING FORWARD, MIRRORING THE IMPACT SEEN IN THE RADIOTHERAPY MARKET

* GROUP IS APPLYING SYSTEMIC COST CONTROL MEASURES, WHILST MAINTAINING TARGETED RESEARCH AND DEVELOPMENT INVESTMENT, IN ORDER TO DRIVE SUSTAINABLE PROFITABLE GROWTH

* ON COVID-19: ROBUST CASH POSITION COMBINED WITH THE CONTINUED EXECUTION OF OUR BACKLOG AND THE PIPELINE OF NEW OPPORTUNITIES, PLACES IBA IN A POSITION TO CONTINUE TO MANAGE THE IMPACT OF THE GLOBAL PANDEMIC Source text for Eikon: Further company coverage: (Gdansk Newsroom)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below