Bavarian Nordic A/S (CPH:BAVA)

Bavarian Nordic Balance Sheet

Financials in millions DKK. Fiscal year is January - December.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Cash & Equivalents	2,093	1,623	1,477	575.41	591.82	285.49
Trading Asset Securities	885.51	552.24	391.35	2,270	3,125	1,384
Cash & Short-Term Investments	2,978	2,176	1,869	2,845	3,717	1,670
Cash Growth	59.08%	16.44%	-34.32%	-23.45%	122.60%	253.46%
Accounts Receivable	1,226	1,176	1,778	523.15	381.62	139.29
Other Receivables	18.63	43.9	49.33	11.37	66.33	36.73
Receivables	1,245	1,220	1,827	534.51	447.95	176.02
Inventory	2,517	2,327	1,644	919.07	480.04	521.08
Prepaid Expenses	96.24	64.32	18.51	153.93	108.84	13.73
Other Current Assets	50.16	-	44.78	31.89	0.19	0.61
Total Current Assets	6,887	5,787	5,403	4,485	4,754	2,381
Property, Plant & Equipment	2,189	2,242	2,453	1,751	1,489	1,083
Other Intangible Assets	6,021	6,331	6,482	5,943	5,804	5,291
Other Long-Term Assets	62.17	45.51	15.74	212.62	43.16	4.12
Total Assets	15,160	14,406	14,353	12,391	12,089	8,759
Accounts Payable	1,098	1,045	954.14	605.93	263.61	345.32
Accrued Expenses	301.71	280.98	260.04	140.49	68.49	119.2
Short-Term Debt	-	-	-	1,104	872.2	-
Current Portion of Long-Term Debt	2.14	2.07	1.91	10.22	2.88	3.59
Current Portion of Leases	40.7	39.47	44.63	24.49	21.27	20.42
Current Income Taxes Payable	72.39	-	7.21	6.34	3.74	0.5
Current Unearned Revenue	12.23	131.41	-	-	16.9	74.35
Other Current Liabilities	268.19	1,298	1,520	396.22	659.47	388.94
Total Current Liabilities	1,795	2,797	2,788	2,287	1,909	952.31
Long-Term Debt	11.42	13.05	15.14	17.01	18.9	393.27
Long-Term Leases	79.78	73.65	83.62	45.83	57.55	54.2
Pension & Post-Retirement Benefits	114.28	113.59	80.73	-	-	-
Long-Term Deferred Tax Liabilities	-	-	29.07	-	-	-
Other Long-Term Liabilities	-	-	1,017	2,891	2,730	2,465
Total Liabilities	2,001	2,997	4,013	5,241	4,715	3,865
Common Stock	792.37	788.55	780.98	707.35	704.68	584.5
Retained Earnings	12,068	10,434	9,330	6,301	6,589	4,246
Treasury Stock	-9.67	-2.84	-1.54	-1.46	-1.11	-1.08
Comprehensive Income & Other	308.43	188.66	230.49	143.52	82.19	64.57
Shareholders' Equity	13,159	11,409	10,340	7,150	7,375	4,894
Total Liabilities & Equity	15,160	14,406	14,353	12,391	12,089	8,759
Total Debt	134.04	128.25	145.3	1,201	972.79	471.48
Net Cash (Debt)	2,844	2,047	1,723	1,644	2,744	1,198
Net Cash Growth	61.80%	18.81%	4.83%	-40.09%	129.01%	-
Net Cash Per Share	35.98	26.21	22.46	23.35	43.48	22.17
Filing Date Shares Outstanding	78.27	78.57	77.94	70.59	70.36	58.34
Total Common Shares Outstanding	78.27	78.57	77.94	70.59	70.36	58.34
Working Capital	5,092	2,990	2,615	2,197	2,845	1,429
Book Value Per Share	168.13	145.20	132.66	101.29	104.82	83.89
Tangible Book Value	7,138	5,078	3,858	1,207	1,571	-396.4
Tangible Book Value Per Share	91.20	64.63	49.50	17.10	22.32	-6.79
Land	-	1,274	1,268	858.54	546.77	548.29
Machinery	-	1,636	1,536	1,140	736.47	779.44
Construction In Progress	-	159.66	206.72	196.13	578.71	213.31
Leasehold Improvements	-	47.39	47.04	40.24	22.29	14.4

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.