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Grifols SA
MAD:GRF

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Grifols SA
MAD:GRF
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Price: 10.355 EUR 3.67% Market Closed
Market Cap: €7B

Grifols SA
Investor Relations

Grifols is a healthcare company that makes medicines and diagnostic products from human plasma. Its main products are plasma-derived therapies used to treat immune disorders, bleeding conditions, and other serious illnesses, along with diagnostic test systems and blood-typing tools used in labs and hospitals. It also runs plasma collection centers, which supply the raw material for its medicines. Its customers are hospitals, clinics, pharmacies, blood banks, and medical laboratories. Grifols makes money by selling finished therapies, diagnostic reagents, and testing instruments, and by supplying products and services tied to plasma collection and blood testing. A large part of the business depends on turning donated plasma into specialized treatments that are hard to make and heavily regulated. What makes Grifols different is that it sits in several parts of the healthcare value chain at once. It collects plasma, processes it into medicines, and also sells diagnostic equipment that helps screen blood and support laboratory testing. That mix gives it a role both as a drug maker and as a supplier to the blood and diagnostics industry.

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Last Earnings Call
Fiscal Period
Q2 2026
Call Date
Jul 28, 2026
AI Summary
Q2 2026

On track: Grifols said second quarter results were in line with expectations and that the company remains on track to deliver full-year 2026 guidance.

Revenue growth: First-half revenue reached EUR 3,574 million, up 2.6% at constant currency, led by Biopharma, which grew 5.4%.

Profitability: Adjusted EBITDA came in at EUR 472 million in Q2 and EUR 854 million in the first half, with management reaffirming a full-year adjusted EBITDA margin target of 25% or higher.

Cash flow: Free cash flow improved by about EUR 100 million in the first half, and management kept full-year free cash flow guidance unchanged at EUR 500 million to EUR 575 million pre-M&A.

Growth drivers: Strong immunoglobulin demand, improving alpha-1 and specialty proteins, and early benefits from Egypt and U.S. center closures are expected to support the second half.

Strategic shift: Grifols highlighted its Diagnostics repositioning, the launch of Evanzys IH, and ongoing preparations for a potential IPO of its U.S. Biopharma business.

Key Financials
Revenue
EUR 1.874 billion
Biopharma revenue growth
5.4%
Adjusted EBITDA
EUR 472 million
Adjusted EBITDA
EUR 854 million
Adjusted EBITDA margin
25.2%
Adjusted EBITDA margin
23.9%
Gross margin
37.6%
Gross margin excluding one-off costs
39.4%
Gross margin excluding one-off costs
38.6%
Free cash flow before M&A
EUR 91 million
Group profit
EUR 227 million
Net leverage
slightly below 4.2x
Net secured leverage
2.7x
Liquidity
EUR 2 billion
One-off costs from U.S. donation center closures
EUR 40 million
U.S. donation centers closed
29
Egypt ex-U.S. plasma collections
around 25%
Ex-U.S. plasma collections increase
around 2.5x
Biopharma U.S. donor centers
around 280
Biopharma Rest of World donor centers
more than 130
Biopharma Rest of World manufacturing sites
5
Phase III SPARTA last patient last visit
August
Alpha-1 undiagnosed patients
85%
Future ISARD market opportunity
USD 1 billion
Other Earnings Calls

Management

Mr. Jose Ignacio Abia Buenache
CEO & Director
No Bio Available
Mr. Alfredo Arroyo Guerra CPA
CFO & VP
No Bio Available
Mr. Lluis Pons Gomez
Senior Vice President of Strategy & COO Office
No Bio Available
Ms. Nuria Pascual Lapeña
VP of Corporate Treasury, Risk Management Investor Relation & Sustainability Officer
No Bio Available
Mr. David Ian Bell
Chief Corporate Development, Legal & Data Protection Officer
No Bio Available
Ms. Maria Teresa-Rioné Llano
Chief Communications Officer
No Bio Available
Mr. Camille Alpi
Chief Human Resources & Talent Officer
No Bio Available
Mr. Vicente Blanquer Torre
Chief Quality Officer
No Bio Available
Mr. Sergio Roura Adell
President of Commercial Tech Support
No Bio Available
Mr. Víctor Grifols Deu
Executive Director
No Bio Available

Contacts

Address
BARCELONA
Barcelona
C/ Jesus y Maria, 6
Contacts
+34935710000.0
www.grifols.com
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