Half Year 2024 Bavarian Nordic A/S Earnings Call Transcript
Key Points
- Bavarian Nordic A/S (BVNKF) reported exceptionally strong performance in Q2 and the first half of the year, driven by both travel health and public preparedness segments.
- The Travel Health business saw a 15% year-on-year growth, particularly strong in the rabies segment.
- The company is on track to complete the tech transfer of both rabies and TBE vaccines, enhancing future production capabilities.
- The chikungunya vaccine program is advancing ahead of schedule, with submissions made to both EU and FDA regulatory authorities.
- Bavarian Nordic A/S (BVNKF) has largely secured all anticipated contracts for the year, allowing them to confirm the upper range of their guidance for 2024.
- The company faced a temporary stock out in Europe for the rabies vaccine, impacting market share.
- Gross profit margin decreased to 44% in the first half of the year, down from previous levels, partly due to a water damage incident in their factory.
- The current mpox outbreak in Africa presents challenges, including the need for emergency use authorization and regulatory approvals in multiple countries.
- The company’s ability to ramp up production for mpox vaccines may require compromises in other production areas.
- There is uncertainty regarding the timing and securing of additional orders related to the current mpox outbreak, impacting future guidance.
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Welcome, everyone, to this first half or Q2 update from Bavarian Nordic.
Q2 was full of news flow, and we are still in a very eventful period. And to do this presentation, we still have the A team, Paul Chaplin and Henrik Juuel, President and CEO, and Executive Vice President and CFO, to do the presentation and to do Q&A afterwards.
So before we start doing that, just go through the forward-looking statements. This announcement includes forward-looking statements that involve risks, uncertainties and other factors, many of which are outside our control, but could cause actual results to differ materially from the results discussed. Forward-looking statements include statements concerning our plans, objectives, goals, future events, performance and other information that is not historical information.
We undertake no obligation to publicly update or revise forward-looking statements to reflect subsequent events or circumstances after the date made, except as required by law.
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