July 5, 2017 / 7:00 AM / 17 days ago

Belgium's IBA cuts 2017 outlook over project delays

2 Min Read

BRUSSELS, July 5 (Reuters) - Belgium's IBA, which makes proton therapy centres that treat tumours, on Wednesday said delays to some of its projects would lead to lower-than-expected growth of its revenues and profits.

The group said it expected its revenues to increase by 5 to 10 percent in 2017 with an operating margin in the mid-single digits.

It had previously foreseen revenue growth of 15 to 20 percent in 2017 and an operating margin of 10 to 12 percent.

"Delays in project execution by several of its customers have continued and are now being experienced in approximately half of the ongoing proton therapy projects," the company said in a statement.

The group, which has an order book backlog of some 1 billion euros ($1.14 billion), said it would offer guidance on the impact on next year and thereafter at a later stage.

IBA, which previously guided for a dividend payout ratio of 30 percent, said its dividend policy remained unchanged. ($1 = 0.8804 euros) (Reporting by Robert-Jan Bartunek; Editing by Alissa de Carbonnel)

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