COPENHAGEN, Denmark – Bavarian Nordic A/S (OMX: BAVA) has released its interim financial results for the first nine months of 2024, showcasing both revenue growth and strategic advancements in its business operations. The company reported a total revenue of DKK 3,622 million, with an operating profit (EBITDA) of DKK 692 million.
In a notable highlight, Bavarian Nordic experienced an 18% increase in revenue from its Travel Health division, which reached DKK 1,892 million compared to the same period in 2023. Meanwhile, revenue from the Public Preparedness sector stood at DKK 1,549 million, aligning with the company’s expectations. Additional revenue contributions amounted to DKK 181 million.
The company has maintained its financial guidance for the full year, which was previously upgraded on September 26. This guidance anticipates total revenue to fall between DKK 5,400 million and DKK 5,800 million, with EBITDA expected to range from DKK 1,450 million to DKK 1,700 million. The company has noted that these projections carry some uncertainty, particularly concerning logistics and the timing of mpox vaccine deliveries, which are influenced by the preparedness of receiving nations.
Looking ahead to 2025, Bavarian Nordic has already secured revenue from mpox and smallpox vaccine orders totaling approximately DKK 2,400 million, which includes previously announced deferred revenue.
| DKK million | Q3 2024 | Q3 2023 | 9m 2024 | 9m 2023 | 2024 Guidance |
|---|---|---|---|---|---|
| Revenue | 1,363 | 1,376 | 3,622 | 4,615 | 5,400 – 5,800 |
| EBITDA | 250 | 380 | 692 | 1,552 | 1,450 – 1,700 |
Paul Chaplin, President and Chief Executive Officer of Bavarian Nordic, shared insights regarding the company’s recent activities. He stated, “We have had a busy, but highly purposeful and rewarding third quarter, where we have worked intensively to support the efforts to curb the ongoing mpox outbreak in Africa.”
Chaplin emphasized the urgency of the situation, noting that shortly after the declaration of mpox as a public health emergency, the first vaccines were delivered to the Democratic Republic of Congo in early September, marking a critical step in addressing the outbreak’s epicenter.
In response to the ongoing health crisis, Bavarian Nordic has demonstrated its commitment to global health by collaborating with international stakeholders to ensure nearly 3 million doses of its mpox vaccine are available for Africa through donations and agreements. The company is also actively working with nations worldwide to bolster their preparedness for mpox and smallpox, aiming to enhance resilience beyond the current outbreak.
To further facilitate equitable access to its vaccine, Bavarian Nordic is exploring options to expand its production capacity to meet rising demand. This includes potential partnerships with manufacturers in Africa, a move that has garnered support from the Africa CDC and other key stakeholders.
As Bavarian Nordic continues to navigate the complexities of the global health landscape, its proactive approach in securing vaccine orders and enhancing public health readiness underscores its pivotal role in addressing infectious disease threats. The company’s financial performance and strategic initiatives reflect a commitment to both business growth and global health security.
