Bavarian Nordic A S (BVNKF) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good day and thank you for standing by. Welcome to the Bavarian Nordic First Quarterly Report Q1 for the three-month period ended 31st March 2026 conference call. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question and answer session. To ask a question during the session, you will need to press star 1 and 1 on your telephone. You will then hear an automated message advising your hand is raised. To withdraw your question, please press star 1 and 1 again. Please be advised that today's conference is being recorded. I would now like to hand the conference over to your speaker today, CEO Paul Chaplin. Please go ahead. Thank you, operator, and welcome everyone to Bavaria Nordic's Q1 results for 2026. Together with me is Henrik Juul, and I will walk through some of the key highlights and activities for the first quarter. and then hand over to Henrik who will go through some of the more detailed financial results. So if you'll turn to slide four, we've had a solid start to 26. Revenue is just over a billion kroner with a 16% EBITDA margin. And as I said, I'll leave it to Henrik to walk through some of the details of the financials. However, Before I go into some of the practicalities, I just need to remind everyone that on Travel Health, it's a very seasonal business. So sometimes our quarterly results don't really reflect the business that we're expecting over the entire year. And typically for Travel Health, Q1 is more of a light quarter, with Q2 being a heavier quarter. And on public preparedness, really, Quarterly results, you know, it's driven all by government contracts and the delivery schedules according to those contracts. So we can either have a light or a low quarter depending on those contracts. An...