Bavarian Nordic A/S Q2 2025 Earnings Recap

Bavarian Nordic reported a robust 33% revenue increase in the first half of 2025, driven by strong vaccine sales and a significant EBITDA margin expansion to 32%.

Key Takeaways

• Achieved DKK 3.1 billion in Public Preparedness contracts, exceeding previous forecasts.
• Sales of rabies and TBE vaccines fueled a 24% growth in Travel Health division.
• Priority Review Voucher sale resulted in net income of DKK 810 million, boosting year-end EBITDA margin projection to 42%.
• Successfully launched the Chikungunya vaccine in multiple regions, with further expansion plans in place.
• Company maintains a balanced growth strategy and refines revenue guidance while targeting an EBITDA margin of 26-30%.