X-Ray Modules

In 2023 the X-Ray Modules division achieved the highest sales in its history, in a favorable market environment that, however, weakened slightly toward the end of the year. In addition to benefiting from positive market conditions, IXM was able to process a backlog of orders that had been delayed by bottlenecks in the supply chain. The enthusiastic market acceptance of the new x-ray tubes and modules also contributed to the record sales. The share of sales from new products was successfully increased compared to the previous year and now accounted for more than 50% of sales growth. The division thus reaped the rewards of its investments.

MesoFocus, a unique technology developed by IXM, was recognized with the Innovation Award of the canton of Fribourg. The MesoFocus series stands out for its performance in the in-line inspection of battery cells, modules and packs, the examination of additively manufactured components for the aerospace and automotive industries, as well as in-line scrutiny of dense materials and detection of minute defects, such as in turbine blades for aircraft.

“The record sales in 2023 validate our strategy.”

Michael Berger

President, X-Ray Modules

The existing technology gaps in solutions for in-line inspection create excellent market opportunities for IXM’s newly launched products, particularly in Asia. The division therefore further increased its presence in Asia in order to be as close as possible to developments and players in the semiconductor market. A local sales and support team was put in place to serve the South Korean battery market, and the commercial organization in Japan and China was expanded.

Net sales of the IXM division grew by 13.1% to CHF 100.3 million (prior year: CHF 88.6 million). EBITDA improved by 51.9% to CHF 23.8 million (prior year: CHF 15.7 million), corresponding to a margin of 23.8% (prior year: 17.7%).

Key financials of X-Ray Modules at a glance

In CHF million	2023	2022
Net sales	100.3	88.6
EBITDA	23.8	15.7
EBITDA margin	23.8%	17.7%
Number of employees worldwide	327	335

Sales of X-Ray Modules division by market