for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up
Healthcare

BRIEF-Bavarian Nordic FY EBIT Loss Narrows To DKK 328.4 Million

Feb 20 (Reuters) - Bavarian Nordic A/S:

* REG-BAVARIAN NORDIC ANNOUNCES ANNUAL REPORT 2019

* ACQUISITION OF RABIPUR/RABAVERT AND ENCEPUR WILL HAVE A SIGNIFICANT POSITIVE IMPACT ON BAVARIAN NORDIC’S REVENUE, AS VACCINES WILL BECOME PRIMARY REVENUE DRIVER

* BAVARIAN NORDIC DOES NOT ANTICIPATE STOCK-OUTS TO AFFECT SALES IN 2020 AND THUS MAINTAIN EXPECTATIONS TO GROW COMBINED SALES OF NEW PRODUCTS BY A LOW-TO-MID SINGLE DIGIT RATE ANNUALLY FROM PREVIOUS ESTIMATED 2019 LEVEL

* BAVARIAN NORDIC DOES NOT ANTICIPATE STOCK-OUTS TO AFFECT SALES IN 2020

* ACQUISITION OF RABIPUR/RABAVERT AND ENCEPUR WILL HAVE A SIGNIFICANT POSITIVE IMPACT ON BAVARIAN NORDIC’S 2020 REVENUE, AS VACCINES WILL BECOME PRIMARY REVENUE DRIVER

* - MAINTAIN EXPECTATIONS TO GROW COMBINED SALES OF NEW PRODUCTS BY A LOW-TO-MID SINGLE DIGIT RATE ANNUALLY FROM PREVIOUS ESTIMATED 2019 LEVEL.

* EXPECTS 2020 EBITDA OF DKK 675 MILLION

* FY REVENUE DKK 662.5 MILLION VERSUS DKK 500.6 MILLION YEAR AGO

* RESEARCH AND DEVELOPMENT COSTS OF APPROXIMATELY DKK 500 MILLION ARE EXPECTED FOR 2020

* FY EBIT LOSS DKK 328.4 MILLION VERSUS LOSS DKK 354.5 MILLION YEAR AGO

* IN ADDITION TO SALES FROM RABIPUR/RABAVERT AND ENCEPUR GUIDANCE ALSO ASSUMES REVENUE FROM OUR SMALLPOX VACCINE BUSINESS, A MILESTONE PAYMENT FROM JANSSEN RELATED TO EXPECTED EMA APPROVAL OF EBOLA VACCINE AND OTHER REVENUE FROM CONTRACT WORK

* 2020 OUTLOOK: APPROXIMATE REVENUE OF DKK 1,900 MILLION

* COMPANY IS PLANNING A RIGHTS ISSUE ON NASDAQ COPENHAGEN IN FIRST HALF OF 2020

* RIGHTS ISSUE, WHICH HAS BEEN APPROVED BY COMPANY’S SHAREHOLDERS, IS FULLY UNDERWRITTEN BY CITI AND NORDEA AS JOINT GLOBAL COORDINATORS. Source text for Eikon: Further company coverage: (Gdansk Newsroom)

for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up