Ion Beam Applications : IBA Annual Report 2021

ANNUAL REPORT 2021

NOTE

TABLE of contents

IBA World leader 1

Our values 3

IBA in 2021 at a glance 4

Message from Olivier Legrain 6

Patient care, what makes our heart beat 7

1 | Industrial Solutions 9

2 | Radiopharma Solutions 15

3 | Protontherapy 21

4 | Dosimetry 27

A committed company 31

Management report 44

a. Management's statement 45

b. Highlights of the year 45

c. Events subsequent to the end of the reporting period 47

d. Review of IBA activity sectors 47

e. Principal risks and uncertainties faced by the company 50

f. Branches of the company 56

g. Conflict of interest 57

h. Competence and independence of member of the audit committee 58

i. Corporate governance statement 58

j. Codes of conduct 82

k. Non-financial activities report 90

l. Consolidated annual financial statements 91

m. Research and Development 94

n. Capital increases and issues of stock options and convertible bonds 94

o. Repurchase of own shares 94

p. IBA sa statutory accounts and appropriation of net result 95

q. Financial Instruments 98

r. Significant acquisitions and divestments in 2020 98

s. General outlook for 2021 98

IBA sa annual financial statements 99

IFRS consolidated financial statements 103

a. Introduction 104

b. Statement of consolidated financial position 105

c. Consolidated income statement 106

d. Consolidated statement of other comprehensive income 107

e. Consolidated statement of change in Equity 108

f. Consolidated cash flow statement 108

g. Notes to consolidated financial statements 109

h. Auditor's report on the consolidated report 174

General information 179

Stock market and the shareholders 182

GRI content index 184

IBA contact 193

IBA

Worrdldlelaedaedrer

We are a world leader in particle accelerator technology. We design, produce and market innovative solutions for the diagnosis and treatment of cancer and other serious illnesses, and for industrial applications such as the sterilization of medical devices.

Around the world, thousands of hospitals use particle accelerators and dosimetry equipment designed, produced, maintained and upgraded by IBA, in our mission to protect, enhance and save lives.

Our life-driven mission and the open relationships we have built with our customers and partners over time, together with our innovative mindset and our willingness to always strive for technological and scientific progress, make IBA a unique scientific company.

We are characterized by a deep human connection that is illustrated by: Life, Science.

Through our four core activities: Industrial Solutions, RadioPharma Solutions, Proton Therapy and Dosimetry, we offer health care professionals the solutions that allow them to take a fully integrated approach to their patient care.

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IBA

How do we work?

At IBA, we believe in a business model that creates shared and long term value for all our stakeholders.

In constant search for the right balance, we are increasing our market share and the return for our shareholders, improving the quality of life of our customers, patients and employees, and contributing to the well-being of our society, while also maintaining and restoring our planet's health.

And we have integrated this stakeholder approach into our company bylaws.

We believe in business as a force for good.

Patients / ClientsEmployeesShareholdersPlanetSociety

Why do we do it?

TO PROTECT, ENHANCE AND SAVE LIVES

A FLEXIBLE AND RESILIENT BUSINESS MODEL

For over thirty years, IBA has placed the purpose of the company and its project at the heart of its activities, as expressed in our mission to "Protect, Enhance and Save Lives".

In today's global and increasingly volatile economy, we have demonstrated flexibility, adaptability and resilience.

All our activities are targeted towards the same objective of making a positive impact on people's health by providing health care professionals with the most effective and accurate solutions for diagnosis and treatment, as well as safe solutions for sterilization. This goal is implemented in different ways that benefit each of the different stakeholders involved.

These are fundamental to the continued success of our business activities.

Consistent with emerging technologies, such as proton therapy, the pace of growth can vary from year to year. We were able to offset this variability over the past year by delivering an improved performance in all business units, where each saw strong order intake.

We continue to focus on quality and innovation and, thanks to excellent sales in our businesses (Proton Therapy, Dosimetry, Industrial Solutions and RadioPharma Solutions), we are managing an increasingly larger installed base and are, as a result, focusing more on service and upgrades.

Our customers and	Our	Our	Our	Our
their patients:	employees:	society:	planet:	shareholders:
we develop the most effective	we offer them quality jobs in a	we promote a	we continually work to reduce	we show that we are
technology for our customers	stimulating, friendly environment	sustainable entrepreneurial	the environmental impact of	worthy of their trust by being a
so they can provide the best	guided by ethical values.	business model that serves	our products and operations.	sound financial investment and
available diagnosis and	society while respecting the	acting in accordance
treatment for their patients.	limits of our planet.	with our values.

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