Bavarian Nordic announces first half 2024 results Page 1

COPENHAGEN, Denmark, August 22, 2024 – Bavarian Nordic A/S (OMX: BAVA) today announced its interim financial results and business progress for the first half of 2024 and published its financial calendar for 2025.

• Revenue for the first half of the year was DKK 2,259 million and operating profit (EBITDA) was DKK 441 million.
• Travel health revenue increased by 15% to DKK 1,119 million and public preparedness revenue was DKK 1,024 million, which is in line with the company’s expectations. Other revenue was DKK 116 million.
• Revenues from Rabipur/RabAvert and Encepur have reached levels exceeding original expectations at the time of acquisition, achieving a revenue milestone of DKK 186 million to GSK, payable in Q3 2024.
• Bavarian Nordic confirms its new full-year guidance at the upper end of the range, with total revenues of approximately DKK 5,300 million and EBITDA of approximately DKK 1,350 million. The public preparedness revenues included in the new guidance are now largely all covered by contracts.

Paul Chaplin, President & Chief Executive Officer of Bavarian Nordic said: “We are pleased to report strong developments for Bavarian Nordic in the first half of 2024. Unfortunately, mpox is once again making global headlines due to the record number of reported cases in Africa. The situation has prompted the African CDC and WHO to declare public health emergencies and Bavarian Nordic is working closely with all stakeholders to ensure equitable access to our mpox vaccine. Importantly, we have built a strong partnership with the Africa Centers of Disease Control (CDC), both to explore supply and to expand our manufacturing network into Africa. We are also working with WHO on a regulatory pathway to ensure access for all countries, while simultaneously seeking approval for use in adolescents and also conducting clinical studies in Africa to further expand use to children. A recent order for MVA-BN was secured from an undisclosed European country, and this was expected as part of the 2024 guidance and as such does not impact remaining vaccine capacity. In response to recent events, the company plans to ramp up vaccine production to ensure continued equitable access to our mpox vaccine. As a result, we have the capacity to produce 10 million doses by the end of 2025, in addition to our current orders, and could deliver up to 2 million doses already this year. Bavarian Nordic stands ready to work with the international community to play our part in protecting and saving lives around the world and containing the latest outbreak.”

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