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Medical technology company IBA reports 2019 profit despite pricing pressure

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Belgian medical technology therapy company Ion Beam Applications reported an annual core profit on Thursday, meeting its guidance after its first six months ended in the red, as pricing pressure continued to impact the company’s attempts to gain market share.

The group, which makes machines that deliver cancer-fighting proton beams, a super precise form of radiation, made a full-year profit before interest and taxes (REBIT) of 87,000 euros ($94,986.60), after a profit of 5.7 million euros a year earlier.

The company, which had forecast a positive REBIT, said the results reflected gross margin weakness as a result of pricing pressure on new contracts and greater investment in research and development.

It said its cash position would allow it to continue to invest in next generation technologies.

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