Bavarian Nordic A/S, listed on the Copenhagen Stock Exchange as BAVA, revealed its interim financial results for the first quarter of 2025, reporting a remarkable 62% revenue growth to DKK 1.35 billion compared to Q1 2024. This surge reflects strong performance across their vaccine portfolio and strategic government partnerships.

The Danish biotechnology company’s success is anchored by significant achievements early this year. Notably, travel health vaccines—especially rabies and tick-borne encephalitis (TBE)—drove a 52% increase in sales to DKK 680 million. Rabies vaccine sales rose by 53% while TBE vaccines jumped 62%, fueled by growing global travel and endemic regions expansion.

Additionally, Bavarian Nordic launched its chikungunya vaccine, VIMKUNYA, with regulatory approvals secured in key markets including the U.S., Europe, and the U.K. The vaccine’s successful introduction marks a crucial milestone in combating this rising global health threat. Initial U.S. sales have begun, with the company planning phased launches across Europe in the coming months.

A critical driver of Bavarian Nordic’s growth was an enhanced government contract. The U.S. government’s Biomedical Advanced Research and Development Authority (BARDA) increased its existing agreement from DKK 2.5 billion to DKK 2.65 billion, including exercising options worth $143.6 million for the supply of the freeze-dried JYNNEOS® vaccine. This vaccine, approved by the U.S. FDA in March 2025, protects against smallpox and mpox—diseases still posing global health concerns, particularly in Africa.

Financially, the company posted an impressive EBITDA margin of 31% and improved its gross margin to 51%, up two percentage points from the previous year, reflecting operational efficiencies.

However, Bavarian Nordic cautions on currency risks due to a weakening U.S. dollar versus the Euro and Danish Krone, though hedging measures aim to mitigate impacts.

Looking ahead, Bavarian Nordic maintains full-year revenue guidance between DKK 5.7 and 6.7 billion and expects a healthy EBITDA margin of 26% to 30%. The company anticipates further growth fueled by travel health vaccine demand and solid government partnerships.

Paul Chaplin, President and CEO, emphasized the company’s momentum: "Our strong first quarter underscores the success of our strategic vaccine launches and government collaborations. We remain committed to expanding access to vital vaccines globally, including for low- and middle-income countries, enhancing public health worldwide."

The surge in travel vaccine revenues follows global trends seen as international travel rebounds post-pandemic, confirming Bavarian Nordic’s strong positioning in this expanding market.

Bavarian Nordic’s interim results not only showcase robust financial health but also highlight its pivotal role in addressing emerging infectious diseases through innovative vaccines and strategic partnerships, setting a positive course for 2025 and beyond.