Vaccine maker Bavarian Nordic Q2 revenue rises on Travel Health growth

Bavarian Nordic A/S

21/08/2026 07:01

Overview
Denmark vaccine maker's Q2 revenue rose 23% yr/yr, driven by Travel Health growth
Q2 EBITDA margin reached 45% on strong product mix and manufacturing performance
Company completed DKK 500 mln buy-back, to launch new DKK 750 mln program in 2026

Outlook
Company raises 2026 revenue guidance to about DKK 5,700 mln, upper end of prior range
Company now expects 2026 EBITDA margin of about 30%, up from about 28%
Company says strong first-half performance and secured contracts support upgraded 2026 outlook

Result Drivers
TRAVEL HEALTH SALES - Co said Q2 growth was led by strong RabAvert/Rabipur and Encepur sales, plus launch of Vimkunya chikungunya vaccine
PUBLIC PREPAREDNESS CONTRACTS - Co said Public Preparedness revenue rose on stronger-than-expected contract base and new government deals for mpox/smallpox vaccines
PRODUCT MIX & MANUFACTURING - Co attributed higher Q2 gross margin to advantageous product mix and strong manufacturing performance

Company press release: ID:nGNE2msWQL

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
 
DKK 2.03 bln
 
Q2 EBITDA
 
DKK 925 mln
 

Analyst Coverage
The current average analyst rating on the shares is "strong buy" and the breakdown of recommendations is 5 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the pharmaceuticals peer group is "buy."
Wall Street's median 12-month price target for Bavarian Nordic A/S is DKK265.00, about 38% above its August 20 closing price of DKK192.00
The stock recently traded at 20 times the next 12-month earnings vs. a P/E of 20 three months ago

Reuters Recommended Reads
Aug 20 - Denmark's Evaxion Q2 net loss narrows on lower expenses
Aug 18 - LEO Pharma buys worldwide dersimelagon rights for up to $435 million
Aug 19 - Denmark's Lundbeck Q2 revenue rises 7% driven by Vyepti and Rexulti

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)