Bavarian Nordic upgrades the financial guidance for 2008
Bavarian Nordic raises its expectations for revenue, result before tax and the
net free liquidity for the financial year 2008.
The improved revenue is due to higher income than expected from the RFP-1 and
RFP-2 contracts. The result before tax is improved as a result of higher
revenue, cost savings and timing differences in some clinical studies as well as
in production planning.
As a consequence hereof, Bavarian Nordic raises the full year expectations for
revenue from approx. DKK 180 million to approx. DKK 210 million. The result
before tax is expected to improve from approx. DKK -225 million to DKK -185
million. The company's net free liquidity at year-end is expected to increase
from approx. DKK 620 million to approx. DKK 730 million.
Anders Hedegaard, President & CEO of Bavarian Nordic, said: "During 2008 we have
significantly strengthened our pipeline and still we are able to improve our
result. This is very encouraging and it further strengthens our already strong
financial position, especially the net free liquidity, which is important during
the current market conditions. Furthermore the strong financial position
contributes to obtaining the company's long term strategic objectives."
Asger Aamund
Chairman
Contact: Anders Hedegaard, President & CEO | +45 23 20 30 64
