Q4 2024 Bavarian Nordic A/S Earnings Call Transcript
Key Points
- Bavarian Nordic AS (BVNKF) reported strong financial performance for 2024 with revenue of DKK5.7 billion and an EBITDA margin of 28%.
- The travel health vaccine franchise grew by 22%, driven by strong sales of rabies and TBE vaccines.
- The company secured contracts for more than DKK3 million doses of mpox vaccine, contributing to strong growth in public preparedness.
- Successful tech transfer for rabies and TBE vaccines is on track, setting industry standards for timelines.
- Bavarian Nordic AS (BVNKF) launched JYNNEOS in the US private market, generating DKK178 million in revenue in its first year.
- The gross margin of 49% fell below target due to write-downs on MVA batches and a water damage incident at the manufacturing site.
- Vaxchora experienced negative revenue in Q4 due to product returns, highlighting challenges in the relaunch phase.
- The company faces uncertainties regarding US manufacturing requirements and potential tariffs, which could impact operations.
- There is a need to increase awareness of Chikungunya among healthcare professionals and the public, which could affect vaccine uptake.
- The first quarter of 2025 is expected to be light in terms of revenue and EBITDA, due to seasonality and timing of revenue recognition.
Good day and thank you for standing by. Welcome to the Bavarian Nordic 2024 Annual Report conference call. (Operator Instructions) Please be advised that today's conference is being recorded.
I would now like to hand the conference over to your speaker today, Rolf Sorensen, Head of Investor Relations. Please go ahead.
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Yeah, thank you, operator. Welcome everyone to this full year update from the Bavarian Nordic. My name is Rolf Sorensen, and today in this conference call, we have, as usual, Paul Chaplin, CEO; and Henrik Juuel, CFO to give the presentation and comments to the Q&A session that comes afterwards as usual.
Before we start the presentation, please note that this announcement includes forward statements that involve risks, uncertainties, and other factors, many of which are outside our control and could cause actual results to differ materially from the results discussed.
Forward-looking
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