Who Owns IBA Company?

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Who Owns IBA?

Understanding IBA's ownership is key to grasping its strategic path and accountability. Its origins as a university spin-off in 1986, founded by Yves Jongen, laid the groundwork for its unique ownership journey.

The company, a leader in particle accelerator technology, has a global presence and a strong financial footing, with a backlog of €1.5 billion as of 2024.

Who owns IBA?

IBA company, known as Ion Beam Applications S.A., was established in 1986. The company's inception is credited to Yves Jongen, who had a significant tenure as the Manager of the UCL Cyclotron Research Center. This background underscores the company's roots as a university spin-off from the Catholic University of Louvain-la-Neuve (UCLouvain).

Founding Vision

Yves Jongen founded IBA with a clear vision to advance proton therapy technology. His goal was to make this sophisticated cancer treatment more accessible globally.

Academic Roots

As a spin-off from UCLouvain, IBA's early ownership structure likely involved the university. This academic origin highlights a strong connection to research and development.

Key Founder Role

Yves Jongen was central to IBA's early operations, serving in leadership roles such as General Manager and Chief Research Officer. His leadership guided the company's initial strategic direction.

Early Ownership Dynamics

While precise initial equity details are not public, early ownership likely included the founder, the university, and potentially early investors or employees. This structure supported the company's growth.

Focus on Technology

From its inception, IBA focused on developing cyclotrons and proton therapy centers. This technological focus was a direct result of the founder's expertise and vision.

Sustained Growth

The company's sustained growth and leadership in its specialized field suggest a stable early ownership framework. This framework effectively supported its long-term objectives.

The early ownership of IBA company was intrinsically linked to its founder, Yves Jongen, and its origins as a spin-off from UCLouvain. While specific details regarding initial share distribution among founders and academic institutions are not widely publicized, Jongen's pivotal role as General Manager and later as Chief Research Officer highlights his foundational influence. The company's strategic direction, focused on making advanced proton therapy more accessible, was a direct manifestation of this early vision. This academic and founder-driven genesis suggests an initial ownership structure designed to foster innovation and long-term development, crucial for a company operating in a highly specialized technological sector. Understanding the Target Market of IBA also sheds light on the strategic decisions made during its formative years.

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IBA, a public company listed on Euronext, has seen its ownership evolve significantly since its inception, reflecting its growth and strategic positioning in the medical technology sector. The company's journey from a spin-off to a publicly traded entity has attracted a diverse range of investors, shaping its current stakeholder landscape.

As of July 18, 2025, IBA (Ion Beam Applications S.A.) has a total of 30,282,218 outstanding shares. The ownership structure is characterized by a broad base of public shareholders, who collectively hold 43.47% of the company's stock. This widespread public ownership indicates a significant level of investor confidence and market participation in the company's performance. The company's ability to attract substantial investment from various institutional entities underscores its strategic importance and growth potential, a factor that also influences its position within the Competitors Landscape of IBA.

Key Investors Shaping IBA's Future

IBA's shareholder base is a testament to its appeal across different investment types, from public market participants to specialized funds and strategic entities.

• The public holds the largest single block of shares at 43.47%.
• Sustainable Anchorage is a significant institutional investor with a 20.49% stake.
• Other key institutional investors include Premier Miton Capital (6.02%), Institut des Radioéléments (4.70%), and Belfius Insurance (3.93%).
• Strategic and academic stakeholders such as Wallonie Entreprendre (2.36%) and UCLouvain (1.41%) highlight regional and foundational support.

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The Board of Directors for IBA company is composed of individuals with significant roles in management and independent oversight. Yves Jongen, the founder, serves as an Internal Director and Managing Director, with his tenure extending to 2027. Olivier Legrain is the Chief Executive Officer, and Henri de Romrée, who joined as an Internal Director and Managing Director in June 2025, also holds the Deputy CEO position, with his term ending in 2028. Catherine Vandenborre oversees finance as the Chief Financial Officer and Corporate Lead.

The board structure also includes independent directors, such as Muriel De Lathouwer, who became an Independent Director in 2024 with her term concluding in 2028. While specific voting power details are not publicly detailed, it is common for publicly traded companies to operate under a one-share-one-vote system, unless their articles of association specify otherwise. This composition suggests a governance model that balances the insights of founders and management with the objective perspective of independent members, aligning with robust corporate governance principles as outlined in the company's Corporate Governance Charter.

Key Governance Aspects

The board composition reflects a strategic blend of internal expertise and external oversight. This structure is designed to ensure effective management and adherence to governance standards.

• Founder involvement in management roles.
• Inclusion of independent directors for objective decision-making.
• Alignment with corporate governance principles.
• Emphasis on transparency in leadership roles.
• The company's approach to its Marketing Strategy of IBA is influenced by its leadership structure.

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Recent developments in the company's ownership profile show a dynamic landscape influenced by strategic growth and investment. The company's financial performance and expansion into new ventures are key factors shaping its stakeholder structure.

In the past few years, the company has focused on sustained growth and strategic investments, which are actively influencing its ownership structure. The company reported record revenue of €498.2 million in 2024, a 7% increase year-over-year, and achieved a net profit of €9.3 million, signifying a return to profitability. This performance is bolstered by a strong backlog conversion, reaching an unprecedented €1.5 billion, which provides significant future revenue visibility. The company's commitment to future value creation is evident through strategic partnerships and ventures, such as the joint venture PanTera with SCK CEN. PanTera secured early supply agreements for Actinium-225 with four companies, including Bayer, and its 2024 Series A funding round was oversubscribed, valuing the company at approximately €280 million post-money. Further demonstrating its expansion strategy, the company entered a joint strategic investment with Wallonie Entreprendre International to acquire 15% each in mi2-factory, a German start-up focused on power semiconductor chips. The initial €3.9 million investment tranche was released in Q1 2025, with a second tranche anticipated in the latter half of the year. These initiatives highlight the company's dedication to broadening its technological applications and market presence, which may lead to further founder dilution as new investors join these ventures. The company maintains a robust financial position with €33.5 million in net cash at the close of 2024 and has access to €60 million in undrawn credit facilities. Looking ahead, the company has set ambitious financial targets, aiming for a REBIT of at least €25 million in 2025 and approximately 10% of revenues by 2028, with a projected normalized revenue growth of 5-7% CAGR through 2028. Understanding the Revenue Streams & Business Model of IBA provides further context to these ownership trends.

Financial Strength and Growth Drivers

The company's financial health is robust, with €33.5 million in net cash at the end of 2024. Strategic investments in ventures like PanTera and mi2-factory are key growth drivers, indicating a focus on expanding technological capabilities and market reach.

Strategic Partnerships and Future Outlook

Joint ventures and strategic investments are shaping the company's future ownership. Ambitious targets for 2025 and 2028, including REBIT and revenue growth, suggest a strategy that may involve further equity adjustments as new partners are brought in.

Investor Relations and Potential Dilution

The oversubscribed Series A funding for PanTera and the joint investment in mi2-factory signal strong investor interest. These capital injections, while fueling growth, can lead to founder dilution as new stakeholders acquire equity.

Market Position and Expansion Initiatives

The company's record backlog of €1.5 billion and strategic expansion into critical isotopes like Actinium-225 highlight its strong market position. These initiatives are crucial for its long-term value creation and influence on its ownership structure.

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