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KVISTGAARD, Denmark, May 16, 2013 - Bavarian Nordic A/S (OMX: BAVA) today publishes its first quarter 2013 results. Revenue for the period was DKK 206 million (2012: DKK 168 million) and the result before tax was a loss of DKK 41 million (2012: DKK 35 million loss). The Infectious Disease division remains profitable with an EBIT of DKK 38 million in the period (2012: DKK 47 million). After receiving payments related to the new delivery contract, awarded by the U.S. Government in April 2013, the cash preparedness was DKK 694 million at the beginning of May 2013, including unutilized credit lines of DKK 120 million. The company has research and delivery contracts with the U.S. Government of which payments of USD 393 million (approx. DKK 2.2 billion) remain by the reporting date. The company maintains its 2013 full-year expectations with revenues in the level of DKK 1,100 million and a break-even result before tax. The cash preparedness at year-end is expected to be roughly DKK 600 million.
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