Core Insights - Bavarian Nordic A/S reported strong interim financial results for the first nine months of 2025, with a revenue increase of 32% year-over-year, reaching DKK 4,793 million [2][5] - The company is on track to meet its refined financial guidance for 2025, expecting total revenue of approximately DKK 6,000 million and an EBITDA margin before special items of around 26% [3][5] Financial Performance - Q3 2025 revenue was DKK 1,795 million, compared to DKK 1,363 million in Q3 2024, marking a significant increase [2] - EBITDA before special items for the first nine months was DKK 1,477 million, resulting in an EBITDA margin of 31% [5] - Other operating income included DKK 810 million from the sale of the Priority Review Voucher, contributing to an expected total EBITDA margin of approximately 40% for the full year [2][5] Business Segments - Travel Health revenue increased by 23% to DKK 2,327 million, driven by higher demand for rabies and TBE vaccines, along with the launch of the Vimkunya chikungunya vaccine [3][5] - Public Preparedness revenue reached DKK 2,334 million, exceeding the expected annual base business within the first nine months [5] Product Developments - The Vimkunya chikungunya vaccine has been launched in multiple countries, including the UK, Denmark, Sweden, Norway, Finland, Italy, and Spain [6] - Regulatory progress for Vimkunya includes a review application submitted to Health Canada and Swissmedic, potentially leading to approvals in 2026 [6] Corporate Developments - Following the withdrawal of a takeover offer, Bavarian Nordic will continue as an independent company, reaffirming its commitment to its existing strategy [3][12] - A shareholder information meeting is scheduled for December 11, 2025, to discuss recent developments [9]