Strong sales growth and …

• Revenue: 1.4 billion Danish Krona, which corresponds to growth of 62% compared to the previous year.

• EBITDA margin: 31%.

• Sales growth for public readiness: 83% increase compared to the previous year.

• Travel health sales growth: 52% rise in the previous year.

• Rabies vaccine growth: 53% rise.

• The vaccine growth: 62% rise.

• Gross marge: 51%, an improvement of 2% point compared to the previous year.

• F&E costs: Something lower than in the previous year, with a all -year instruction of around 900 million Danish Krona.

• SG & A costs: Rose from 209 million to 250 million Danish Krona.

• Cash and cash equivalent: About 1.2 billion Danish Krona.

• Take instruction for the overall year: Between 5.7 and 6.7 billion Danish Krona.

• All-year-Bitda margin guidelines: Between 26% and 30%.

Appearance date: May 09 May 2025

You can find the complete copy of the earnings call in the complete earnings call.

• The Bavarian Nordic AS (BVNKF) reported a strong start of the year with sales growth of 62% and reached almost 1.4 billion crown.

• The company reached an EBITDA margin of 31%, which indicates strong profitability.

• Successful start and approval of the Chikungunya vaccine, Bunya, in the USA, in Europe and Great Britain.

• Strong performance in the travel health segment with considerable market share gains for rabies and ticket encephalitis (TBE) vaccines.

• Secured a new order from the US government worth 144 million US dollars and improved sales stability for 2026.

• Despite the strong performance, the company is a little shortly before the lower end of the instructions for public readiness.

• Causes regarding the potential negative effects of the wholesaler in Germany, which could affect future sales.

• The company faces uncertainties in connection with potential tariffs and changes to the US regulatory guidelines.

• Despite the strong performance of the Q1, there is a cautious approach for growth forecast for travel health growth due to seasonality and market dynamics.

• The company has not yet sold its primary review voucher, which indicates potential delays in the realization of cash from this asset.

Q: Can you explain the factors that contribute to the strong Ebitda margin of 31% in this quarter, and how does this match your total annual instructions of 26% to 30%? A: Henrik Juuel, Executive Vice President and CFO, said that the strong EBITDA margin was due to a smooth quarter in production with better returns and higher success rates. The F&E costs are baked-end, which also contributed to the margin. The company is still careful and retains its total annual instructions of 26% to 30%, with the performance of the first quarter near the top of this area.