Bavarian Nordic A/S (BVNRY) Q2 2026 Earnings Call Transcript

SA Transcripts 161.96K Followers Follow Bavarian Nordic A/S ( BVNRY ) Q2 2026 Earnings Call August 21, 2026 8:00 AM EDT Company Participants Paul Chaplin - CEO & President Henrik Juuel - CFO & Executive VP Conference Call Participants Thomas Bowers - SEB, Research Division Hakon Hemme Jørgensen - Danske Bank A/S, Research Division Romy O'Connor - Van Lanschot Kempen NV Alyna Shamsi - Jefferies LLC, Research Division Presentation Operator Good day, and thank you for standing by. Welcome to the Bavarian Nordic Q2 and Half Year Report for the 6-month period ended 30th of June 2026 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, CEO, Paul Chaplin. Please go ahead. Paul Chaplin CEO & President Thank you, and welcome, everyone, to our half year conference call. Today, we've announced our Q2 results. And before I go into them and then hand over the call to Henrik Juuel, the CFO, obviously, we've announced tremendous results today, driven by very strong growth across the whole commercial portfolio. And before I get into those numbers, I just want to say these sort of numbers don't happen by chance. It's an endorsement of our strategy, but more importantly, it's an endorsement of our employees and their hard work and dedication, but also our partners around the world and our healthcare professionals who work together with Bavarian Nordic to really ensure that we improve the access to our life-saving vaccines. So for the first half year, we've reported just over DKK 3 billion in revenue and an EBITDA margin of 35%. As I said, this really equates to a tremendous result. On Travel Health, we've seen a tremendous growth of 26% for the first 6 months compared to this time last year and actually 45% for the second quarter. And that's driven for