Bavarian Nordic
Vaccine development·BAVA · Nasdaq Copenhagen·Fiscal year to 31/12/2025
Develops and produces vaccines against infectious diseases, including smallpox and mpox, as well as travel vaccines. It has supplied smallpox vaccine to the American biodefense stockpile (BARDA) — an exposure to government procurement and biosecurity preparedness, not only ordinary health spending.
Exposure profile
Derived from what the company itself writes. Empty directions mean the report doesn't mention themes of that type.
In their own words
Grouped by theme, from the management review in the annual report. A · The company itself is a verbatim quote, B · From the report is without a verified quote.
Aviation and travel
End markets
DriverPositive impact: strengthens
“The past three years have demonstrated impressive growth in both our business areas, Travel Health and Public Preparedness. While the growth in Travel Health primarily has been driven by solid organic market growth, particularly post-COVID-19, strong brand performance and also by the expansion of the commercial portfolio through an additional acquisition, Public Preparedness has been favored by the recent mpox outbreaks, globally and in Africa.”
Annual report 2025A · The company itself
DriverNegative impact: weakens
“During COVID- 19, global travel declined significantly, adversely impacting our business temporarily. The market has since recovered and has continued to grow.”
Annual report 2025A · The company itself
DriverMixed impact: mixed
“Our portfolio remains, however, somewhat resilient to downtrends in global travel, as we operate in markets, where diseases like rabies and TBE are endemic.”
Annual report 2025A · The company itself
Market
“This highly successful launch delivered revenues of DKK 85 million in the first launch year. As we continue to launch in new markets and further grow our position in this emerging area in 2026, we expect revenue to triple already in the second year of launch, still with peak sales to be reached in years ahead.”
Annual report 2025A · The company itself
Market
“We achieved 30% growth, delivering nearly DKK 3 billion in revenue from this business alone, yet again changing its growth trajectory.”
Annual report 2025A · The company itself
Market
“The rabies and TBE vaccines acquired in 2020, remain our key revenue drivers in Travel Health, and continued a very strong performance in 2025 with 34% and 20% growth, respectively.”
Annual report 2025A · The company itself
Market
“Vimkunya revenue 2025 mDKK Vimkunya ® is a vaccine for immunization against chikungunya, a mosquito-borne disease, which has emerged across several regions in Asia, Africa, and the Americas, including many popular travel destinations. It is the first virus-like particle (VLP)- based chikungunya vaccine for persons aged 12 and older, which was approved and launched in the U.S., the UK and several European countries in 2025.”
Annual report 2025A · The company itself
Market
“Rabipur ® /RabAvert ® is a rabies vaccine for both pre-exposure use for travelers to endemic regions and for post-exposure use by persons in endemic countries potentially at risk after being bitten or scratched by animals carrying the disease.”
Annual report 2025A · The company itself
Market
“Vivotif ® /Typhoral ® is an oral vaccine for immunization against typhoid fever, a potentially life-threatening disease caused by a specific type of bacteria (Salmonella typhi), which is commonly found in Southeast Asia, Africa, the Caribbean, and Central and South America. Vaxchora ® is an oral vaccine for immunization against cholera, a potentially life-threatening disease caused by the bacteria Vibrio cholerae serogroup O1, which is regularly found in South and Southeast Asia and Africa.”
Annual report 2025A · The company itself
Market
“Furthermore, revenue of approximately DKK 3,000 million is expected from Travel Health, and approximately DKK 200 million from contract work.”
Annual report 2025A · The company itself
Market
“CDC’s ACIP committee recommended Vimkunya for persons aged 12+ traveling to outbreak or elevated chikungunya risk regions and for laboratory workers with potential exposure.”
Annual report 2025A · The company itself
Market
“Travel Health We have a leading portfolio of travel vaccines. Smallpox Mpox 2,963 mDKK Revenue from our Travel Health portfolio increased by 30% to DKK 2,963 million (2024: DKK 2,287 million), driven by increased demand for Rabipur/RabAvert and Encepur vaccines, and supported by Vimkunya, our chikungunya vaccine launched in 2025.”
Annual report 2025A · The company itself
Chains in: Fuel strengthens, Pandemics and outbreaks weakens
Europe
Geography
Market
“Encepur ® is a vaccine against tick-borne encephalitis (TBE), a virus prevalent in Central, Eastern and Northern Europe. The vaccine is marketed in European countries with Germany being the largest market, representing ~80% of the product’s total revenue.”
Annual report 2025A · The company itself
Market
“The world was not prepared for these outbreaks, and they created a sudden and significant surge in demand for our vaccine, which we have successfully managed to fulfil, while also succeeding in establishing longer term partnerships with more governmental customers. As we continue to supply our vaccine to the U.S. and Canada under our existing multi-year agreements, we have also strengthened our collaboration with the EU and its member states, and in 2025, we entered a new framework agreement with the European Commission, through the Health Emergency Preparedness and Response Authority (HERA), enabling the EU, its member states and additional European countries to purchase up to 8 million doses over the next four years.”
Annual report 2025A · The company itself
Geography
“Vimkunya launched in the U.S. Vimkunya launched in Germany Extended commitment from the EU A new and larger framework contract was entered with the European Commission through HERA, enabling the EU, its member states and additional European countries to purchase up to 8 million doses of our smallpox/mpox vaccine over the next four years.”
Annual report 2025A · The company itself
Geography
“We have since taken it through regulatory development, established commercial manufacturing and developed global marketing plans and more, representing the first fullscale launch of a product ever for Bavarian Nordic. Upon approval in the U.S. and Europe in early 2025, we launched Vimkunya ® in 12 markets before the end of the year.”
Annual report 2025A · The company itself
Geography
“Our markets ● Our offices Bavarian Nordic at a glance >1,800 Employees USA Clinical Regulatory Commercial Germany R&D Commercial Switzerland Manufacturing Commercial Denmark Headquarters Manufacturing Public Preparedness A preferred supplier of mpox and smallpox vaccines to governments for public health preparedness Travel Health A leading commercialized portfolio of travel vaccines 10 Bavarian Nordic Annual Report 2025 2025 in brief Business and strategy Performance Corporate information Bavarian Nordic at a glance Our purpose and commitment Strategic priorities Our purpose and commitment Protecting and saving lives is at the heart of what we do.”
Annual report 2025A · The company itself
Geography
“In 2025, we continued to demonstrate a very strong performance for our rabies vaccine in key markets, the U.S. and Germany, and for the TBE vaccine in Germany, demonstrating significant growth.”
Annual report 2025A · The company itself
Geography
“Key growth drivers in Travel Health: Organic growth in key markets expected to continue Maintain focus on brand performance for key products (rabies and TBE) to drive increased market shares Leverage our expanded market presence in Canada, the UK and Southern Europe Continue launch of chikungunya vaccine in new markets 10-12% CAGR 2025-2027E Bavarian Nordic Annual Report 2025 13 2025 in brief Business and strategy Performance Corporate information Bavarian Nordic at a glance Our purpose and commitment Strategic priorities Expanding the Public Preparedness base business For nearly two decades, we have been a trusted partner to governments on their smallpox preparedness with the U.S. and Canada as key customers, and we have continued to build and strengthen our partnerships, also with other countries in response to recent mpox outbreaks.”
Annual report 2025A · The company itself
Geography
“Canada & EU Additional framework contracts aimed at long-term stockpiling Expansion of the customer base Private market in the U.S. and Germany One product, dual purpose JYNNEOS (also marketed as IMVANEX or IMVAMUNE) is indicated for both smallpox and mpox, serving different purposes for our customers, primarily governments and governmental organizations worldwide, but also including private markets in the US and Germany: Long-term stockpiling for public preparedness (smallpox) Public health preparedness and response during outbreaks (mpox) 14 Bavarian Nordic Annual Report 2025 2025 in brief Business and strategy Performance Corporate information Bavarian Nordic at a glance Our purpose and commitment Strategic priorities Business development and M&A to drive further commercial expansion The rabies and TBE vaccine acquired from GSK in 2020 continue to form the backbone of Travel Health, driving growth year-over-year.”
Annual report 2025A · The company itself
Geography
“Since then, we acquired the travel vaccine portfolio from Emergent BioSolutions, including a manufacturing facility in Switzerland, which has further added to our capacity and flexibility to ensure a reliable supply.”
Annual report 2025A · The company itself
Geography
“Travel Health Rabipur/RabAvert Rabipur/RabAvert sales increased by 34% to DKK 1,817 million (2024: DKK 1,352 million), driven by continued market growth in both Germany (48%) and the U.S.”
Annual report 2025A · The company itself
Geography
“Our market position remained strong, with the U.S. and Germany market shares of 78% in 2025 versus 76% prior year and 97% in 2025 versus 91% prior year, respectively.”
Annual report 2025A · The company itself
Geography
“The performance was driven by the U.S. and Germany that were the first markets where the product was launched.”
Annual report 2025A · The company itself
Geography
“Our focus is on the U.S. and European markets.”
Annual report 2025A · The company itself
Public sector
End markets
Market
“of total revenue 3% of total revenue 21 Bavarian Nordic Annual Report 2025 2025 in brief Business and strategy Performance Corporate information Commercial performance Financial review Key figures Outlook 2026 Public Preparedness JYNNEOS/IMVAMUNE/IMVANEX Revenue from the sale of JYNNEOS/IMVAMUNE/IMVANEX amounted to DKK 3,105 million (DKK 3,206 million), driven by contracts with the U.S. government and the European Union in addition to contracts entered with various other governments and organizations.”
Annual report 2025A · The company itself
Market
“JYNNEOS ® /IMVAMUNE ® /IMVANEX ® was originally developed as a smallpox vaccine intended for government stockpiling. Since, it has been approved also for mpox and has been widely used during outbreaks. The vaccine has also been commercialized in key markets (the U.S. and Germany) for at-risk populations.”
Annual report 2025A · The company itself
Market
“Read more at: www.chikungunya.com → highlights Public Preparedness Strengthening mpox and smallpox preparedness across the globe Approval of freeze-dried JYNNEOS ® The FDA approved the freeze-dried version of JYNNEOS, supporting the ongoing contract with the U.S. government for stockpiling of the vaccine. U.S. order for 2026 secured The U.S. government exercised additional options of USD 143.6 million under the existing contract to supply freeze-dried JYNNEOS, with the majority planned for delivery in 2026.”
Annual report 2025A · The company itself
Market
“Mpox outbreaks have driven a surge in demand since 2022 Before these acquisitions, our only business, Public Preparedness, was largely based on one government customer, generating around DKK 0.5-1 billion in annual revenue.”
Annual report 2025A · The company itself
Market
“In outbreak years, this number has been considerably higher, and we delivered just above DKK 3 billion in revenue in 2025, representing half of our total revenue for the year.”
Annual report 2025A · The company itself
Market
“The world was not prepared for these outbreaks, and they created a sudden and significant surge in demand for our vaccine, which we have successfully managed to fulfil, while also succeeding in establishing longer term partnerships with more governmental customers. As we continue to supply our vaccine to the U.S. and Canada under our existing multi-year agreements, we have also strengthened our collaboration with the EU and its member states, and in 2025, we entered a new framework agreement with the European Commission, through the Health Emergency Preparedness and Response Authority (HERA), enabling the EU, its member states and additional European countries to purchase up to 8 million doses over the next four years.”
Annual report 2025A · The company itself
Market
“An attractive, but unpredictable business The surge in demand drove record-high revenues in 2023-2025 in our Public Preparedness business, accounting for roughly half of our total revenue in this period.”
Annual report 2025A · The company itself
Market
“For three consecutive years, we have exceeded our base business in Public Preparedness, reaching annual revenues above DKK 3,000 million. In 2026, we expect revenue of DKK 1,800- 2,000 million from this business, of which approximately DKK 1,400 million were secured by March 2026.”
Annual report 2025A · The company itself
Market
“Commercial performance 23 Financial review 26 Key figures 27 Outlook Commercial performance Public Preparedness We are a preferred supplier of mpox and smallpox vaccines to governments to enhance public health preparedness.”
Annual report 2025A · The company itself
Consumer spending
Macro
DriverNegative impact: weakens
“Commercialization and competition We compete in markets where prices may be determined by the local supply/ demand, including products from competitors that are significantly larger than us. Pressure from local healthcare politics to reduce costs may impact Bavarian Nordic’s pricing or volume.”
Annual report 2025A · The company itself
DriverNegative impact: weakens
“We have taken initiatives to accelerate the growth, and have started to see market share gains, however, the U.S. market for typhoid vaccines has been in decline.”
Annual report 2025A · The company itself
Market
“Beyond government contracts – a private market emerging In 2024, in the wake of the global mpox outbreak in 2022, we launched our vaccine for the private segment in key markets (U.S. and Germany). It is a small, but profitable market, which highly correlates with the prevalence of the disease and awareness during outbreaks worldwide.”
Annual report 2025A · The company itself
Chains in: Inflation weakens
Chains out: this strengthens Retail, strengthens Hospitality and leisure, strengthens Premium consumers, strengthens Grocery retail and private label
Artificial intelligence
Technology
StrategyPositive impact: strengthens
“Bavarian Nordic Annual Report 2025 2025 in brief Business and strategy Performance Corporate information Bavarian Nordic at a glance Our purpose and commitment Strategic priorities Innovate to elevate Through disciplined investments, we have focused our R&D efforts and established partnerships to drive added value to the commercial portfolio. In 2026, our R&D investments are capped at DKK 750 million, prioritizing life-cycle management of the commercial portfolio as well as continued—though slower—advancement of the early-stage pipeline assets (EBV and Lyme), which are now expected to enter clinical development in 2027.”
Annual report 2025A · The company itself
Chains out: this strengthens Data centres, strengthens Semiconductors and electronic components, strengthens Semiconductor industry
Automation and robotics
Technology
StrategyPositive impact: strengthens
“MVA-BN Phase 2 A study comparing the safety, immunogenicity and reactogenicity of MVA-BN manufactured using different cell lines. The study is part of the Company’s efforts to scale manufacturing capacity to meet future demand by introducing a proprietary cell line, designed to significantly increase the manufacturing efficiency compared to the current egg-based production.”
Annual report 2025A · The company itself
Biotech and drug development
Technology
StrategyPositive impact: strengthens
“Research and development We are progressing studies and projects through the R&D pipeline, including life-cycle management activities for the current portfolio of products. Any research and development activities can be delayed or even abandoned. The product approval phase can be delayed or even fail. All clinical material and production facilities require regulatory approval; such approvals can be delayed or even fail.”
Annual report 2025A · The company itself
Chains in: US drug pricing policy mixed effect, Patent expiry and generic competition weakens, Drug approvals strengthens
Chains out: this strengthens Buying contract manufacturing and research (CMO/CRO/EMS), strengthens Contract manufacturers as a business (EMS, CMO, CRO)
Industrial manufacturing
End markets
StrategyPositive impact: strengthens
“The acquisition from Emergent BioSolutions brought us not only two new commercial-stage products in the portfolio, but also a manufacturing site and a latestage clinical asset.”
Annual report 2025A · The company itself
Vaccines (travel health and preparedness)
End markets
Market
“Bavarian Nordic Annual Report 2025 2025 in brief Business and strategy Performance Corporate information Bavarian Nordic at a glance Our purpose and commitment Strategic priorities Performance A strong year supported by a 30% growth in Travel Health revenue and high performance in Public Preparedness due to continued surge in demand for mpox/smallpox vaccines.”
Annual report 2025A · The company itself
Chains in: Pandemics and outbreaks strengthens
Geopolitical uncertainty
Macro
DriverNegative impact: weakens
“This, combined with geopolitical risk and uncertainty, added to an increasingly complex business environment, but we kept our promise to deliver on our financial targets for the year.”
Annual report 2025A · The company itself
DriverPositive impact: strengthens
“Public Preparedness continued to underline the importance of our platform and global partnerships, which are twofold; due to geopolitical uncertainty, our smallpox vaccine has increasingly become an important element for governmental organizations for defense purposes; and the mpox outbreaks have created a need for public preparedness and meeting consumer demand.”
Annual report 2025A · The company itself
DriverNegative impact: weakens
“Outlook 2026 For 2026, Bavarian Nordic expects revenue of DKK 5,000 – 5,200 million and an EBITDA margin of approximately 25%. The expected revenue is comprised of DKK 1,800 – 2,000 million from Public Preparedness, of which approximately DKK 1,400 million have already been secured by contracts by March 2026. The current outlook indicates that 2026 will be a more normalized year without the impact from ongoing outbreaks of mpox, however still in line with the Company’s mid-term growth ambitions.”
Annual report 2025A · The company itself
Chains out: this strengthens Defence budgets, strengthens Energy security, strengthens Tariffs and trade policy, weakens Global trade volumes, strengthens Sea freight and freight rates, weakens Reconstruction of Ukraine
Defence budgets
Regulation
DriverPositive impact: strengthens
“Public Preparedness continued to underline the importance of our platform and global partnerships, which are twofold; due to geopolitical uncertainty, our smallpox vaccine has increasingly become an important element for governmental organizations for defense purposes; and the mpox outbreaks have created a need for public preparedness and meeting consumer demand.”
Annual report 2025A · The company itself
DriverPositive impact: strengthens
“Through a fully funded development program by the U.S. Department of Defense, we have advanced the development of an MVA-BN based vaccine against equine encephalitis, currently in phase 2 clinical development.”
Annual report 2025A · The company itself
Chains in: Geopolitical uncertainty strengthens, Reconstruction of Ukraine mixed effect
Chains out: this strengthens Defence industry
Subcontractors and haulage capacity
Raw materials and inputs
InputNegative impact: weakens
“Risk area Description and impact Mitigating actions Manufacturing and quality of supply Disruptions to Bavarian Nordic’s supply chain caused by manufacturing issues, internal systems, or supply chain issues, could have a significant impact on the ability to supply products at the right time and could impact both customer relations and financial performance. Bavarian Nordic utilizes subcontractors and CMOs as part of the supply chain; any disruptions to the planning and execution at CMOs or subcontractors could impact Bavarian Nordic’s ability to supply products timely.”
Annual report 2025A · The company itself
USD vs DKK/EUR
Macro
DriverMixed impact: mixed
“Smallpox Mpox 2,963 mDKK Revenue from our Travel Health portfolio increased by 30% to DKK 2,963 million (2024: DKK 2,287 million), driven by increased demand for Rabipur/RabAvert and Encepur vaccines, and supported by Vimkunya, our chikungunya vaccine launched in 2025.”
Annual report 2025A · The company itself
DriverNegative impact: weakens
“Potential disputes with tax authorities could result in additional tax payments Material net USD exposure is hedged using FX contracts or options.”
Annual report 2025A · The company itself
Chains out: this mixed effect United States
Consumer preference shifts
End markets
DriverPositive impact: strengthens
“Disease awareness remains low across markets. The increased occurrence of chikungunya across several southern European countries during 2025 and the first instance of local transmission of the virus reported in the U.S., however, have increased the attention towards this emerging disease, also from the local public health authorities.”
Annual report 2025A · The company itself
Chains out: this mixed effect Beer and beverages
Cybersecurity (products and services)
Technology
DriverNegative impact: weakens
“Cyber security Disruptions, including hacking, malware, or other external attempts to disrupt our ability to operate could have a significant impact on our IT infrastructure and systems, from inability to perform operationally to inability to perform commercial sales or perform R&D. The impact could influence revenue and/or costs.”
Annual report 2025A · The company itself
Chains in: Cyber attacks and IT security risk strengthens
Chains out: this strengthens Digitalisation
Tariffs and trade policy
Macro
DriverNegative impact: weakens
“Import tariffs Introduction of significant import tariffs on our vaccines could result in reduced revenue and profits and thereby potentially reduce the company’s ability to invest in R&D and provide competitive financial returns.”
Annual report 2025A · The company itself
Chains in: Geopolitical uncertainty strengthens
Chains out: this weakens Global trade volumes
United States
Geography
Geography
“We have since taken it through regulatory development, established commercial manufacturing and developed global marketing plans and more, representing the first fullscale launch of a product ever for Bavarian Nordic. Upon approval in the U.S. and Europe in early 2025, we launched Vimkunya ® in 12 markets before the end of the year.”
Annual report 2025A · The company itself
Geography
“Our markets ● Our offices Bavarian Nordic at a glance >1,800 Employees USA Clinical Regulatory Commercial Germany R&D Commercial Switzerland Manufacturing Commercial Denmark Headquarters Manufacturing Public Preparedness A preferred supplier of mpox and smallpox vaccines to governments for public health preparedness Travel Health A leading commercialized portfolio of travel vaccines 10 Bavarian Nordic Annual Report 2025 2025 in brief Business and strategy Performance Corporate information Bavarian Nordic at a glance Our purpose and commitment Strategic priorities Our purpose and commitment Protecting and saving lives is at the heart of what we do.”
Annual report 2025A · The company itself
Geography
“In 2025, we continued to demonstrate a very strong performance for our rabies vaccine in key markets, the U.S. and Germany, and for the TBE vaccine in Germany, demonstrating significant growth.”
Annual report 2025A · The company itself
Geography
“Key growth drivers in Travel Health: Organic growth in key markets expected to continue Maintain focus on brand performance for key products (rabies and TBE) to drive increased market shares Leverage our expanded market presence in Canada, the UK and Southern Europe Continue launch of chikungunya vaccine in new markets 10-12% CAGR 2025-2027E Bavarian Nordic Annual Report 2025 13 2025 in brief Business and strategy Performance Corporate information Bavarian Nordic at a glance Our purpose and commitment Strategic priorities Expanding the Public Preparedness base business For nearly two decades, we have been a trusted partner to governments on their smallpox preparedness with the U.S. and Canada as key customers, and we have continued to build and strengthen our partnerships, also with other countries in response to recent mpox outbreaks.”
Annual report 2025A · The company itself
Geography
“Canada & EU Additional framework contracts aimed at long-term stockpiling Expansion of the customer base Private market in the U.S. and Germany One product, dual purpose JYNNEOS (also marketed as IMVANEX or IMVAMUNE) is indicated for both smallpox and mpox, serving different purposes for our customers, primarily governments and governmental organizations worldwide, but also including private markets in the US and Germany: Long-term stockpiling for public preparedness (smallpox) Public health preparedness and response during outbreaks (mpox) 14 Bavarian Nordic Annual Report 2025 2025 in brief Business and strategy Performance Corporate information Bavarian Nordic at a glance Our purpose and commitment Strategic priorities Business development and M&A to drive further commercial expansion The rabies and TBE vaccine acquired from GSK in 2020 continue to form the backbone of Travel Health, driving growth year-over-year.”
Annual report 2025A · The company itself
Geography
“Travel Health Rabipur/RabAvert Rabipur/RabAvert sales increased by 34% to DKK 1,817 million (2024: DKK 1,352 million), driven by continued market growth in both Germany (48%) and the U.S.”
Annual report 2025A · The company itself
Geography
“Our market position remained strong, with the U.S. and Germany market shares of 78% in 2025 versus 76% prior year and 97% in 2025 versus 91% prior year, respectively.”
Annual report 2025A · The company itself
Geography
“The performance was driven by the U.S. and Germany that were the first markets where the product was launched.”
Annual report 2025A · The company itself
Geography
“Our focus is primarily on the U.S. market which represents ~60% of the product’s total revenue.”
Annual report 2025A · The company itself
Geography
“Our focus is on the U.S. and European markets.”
Annual report 2025A · The company itself
Chains in: USD vs DKK/EUR mixed effect
Denmark
Geography
Geography
“Our markets ● Our offices Bavarian Nordic at a glance >1,800 Employees USA Clinical Regulatory Commercial Germany R&D Commercial Switzerland Manufacturing Commercial Denmark Headquarters Manufacturing Public Preparedness A preferred supplier of mpox and smallpox vaccines to governments for public health preparedness Travel Health A leading commercialized portfolio of travel vaccines 10 Bavarian Nordic Annual Report 2025 2025 in brief Business and strategy Performance Corporate information Bavarian Nordic at a glance Our purpose and commitment Strategic priorities Our purpose and commitment Protecting and saving lives is at the heart of what we do.”
Annual report 2025A · The company itself
Geography
“Since then, we acquired the travel vaccine portfolio from Emergent BioSolutions, including a manufacturing facility in Switzerland, which has further added to our capacity and flexibility to ensure a reliable supply.”
Annual report 2025A · The company itself
Geography
“This five-year process consisted of a reconstruction of the facility in Denmark and implementation of new manufacturing lines for both drug substance and drug product manufacturing. Similarly, in 2025, we completed the tech transfer of the tick-borne encephalitis (TBE) vaccine.”
Annual report 2025A · The company itself
Competitors mentioned in the report
No named competitors in the report.
Financial figures
| Revenue latest fiscal year | 6.24 bn DKK |
| Revenue growth vs. the year before, same method | 9.2 % |
| EBITDA reported by the company | N/A |
| Net debt debt incl. leasing minus cash | N/A |
| Diluted EPS per share | 17.6 DKK |
Source: annual report (ESEF) A. See the report
Criteria
| Profit | ✓ |
| Growing | ✓ |
| Healthy balance sheet | N/A |
Only the criteria that can be computed from financial statements on this page. The remaining criteria (such as price and dividend) need a share price and are in the analysis.