Bavarian Nordic A S (BVNKF) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Welcome everyone to today's presentation, which is an update on our results for last year, 2025. Today you'll hear from me, a few slides from myself, and then I'll hand over to Henrik Juul, the CFO. So if you turn to slide four, we reported very strong results last year, 6.2 billion in revenue with a 28% EBITDA margin. And this is the result of very strong performance of both arms of our commercial business on travel health, but also on public preparedness. On travel health, we saw a 30% growth last year, which is a very strong performance across the whole portfolio, but also related to the launch of our chikungunya vaccine. On public preparedness, In 25, we were at the back end of an outbreak of MPOCs, and we saw more than 3.1 billion in revenues, which is approximately a billion kroner above the upper end of our normal base business. So as I said, very strong performance from both parts of our commercial business in 25. In addition, we sold a product review voucher valued at 810 million kroner. And if we included this in the EBITDA, this would bring the EBITDA to a 41% margin. Some events that have happened since in this year, which are noteworthy, is we've announced two agreements, one with Europharma for the distribution of our chikungunya vaccine in Brazil. And earlier this week, we announced an extension or an expansion of our strategic partnership with the Institute of India to produce our chikungunya vaccine. And both of these are related to improving the access of vincunya in those regions. Today we also announced the second trance of our share buyback and I'm sure Henrik we're coming back to more of that in the future slides. And last week we announced that after a long tenure at Bavaria Nordic. Unfortunately, I think it's 27 years. I have decided for diffe...