Preliminary 2025 revenue:
DKK 6,244 million, exceeding latest guidance of ~DKK 6,000 million.16
2025 breakdown:
Public Preparedness DKK 3,105 million (surge in mpox vaccines), Travel Health DKK 2,963 million (30% growth over 2024, strong rabies/TBE demand, chikungunya DKK 85 million).1
2025 EBITDA (excluding other income): DKK 1,732 million (28% margin, beat 26% guidance); including DKK 810 million from Priority Review Voucher sale:
DKK 2,542 million (41% margin).1
2026 guidance:
Revenue DKK 5,000–5,200 million, EBITDA margin ~25%; Travel Health ~DKK 3,000 million (10% growth own products), Public Preparedness DKK 1,800–2,000 million (normalized, ~DKK 1,300 million secured).16
Travel Health growth:
Rabies 34%, TBE 20%; partnerships with Valneva and Dynavax ending, no material partnered revenue in 2026.1
Announcement date:
February 12, 2026; full audited results March 12, 2026.1
Sources:
1. https://www.globenewswire.com/news-release/2026/02/12/3236873/0/en/Bavarian-Nordic-Reports-Preliminary-2025-Financial-Results-and-Provides-Guidance-for-2026.html
6. https://www.marketscreener.com/news/bavarian-nordic-releases-preliminary-figures-issues-2026-guidance-ce7e5ad2dd8bf32c