Spain · Delayed Price · Currency is EUR Grifols Earnings Call Transcripts
Fiscal Year 2026
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Revenue grew 2.6% in H1 2026, led by Biopharma and strong IG demand, with adjusted EBITDA up 2.4% and free cash flow improving by EUR 103 million year-over-year. Albumin in China stabilized, diagnostics advanced with new launches, and the company remains on track for its 2026 guidance.
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Q1 2026 results were in line with expectations, led by strong Biopharma growth and margin expansion from plasma sourcing optimization. Financial position improved with refinancing and deleveraging, while Diagnostic and specialty proteins segments are set for renewed growth.
Fiscal Year 2025
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Revenue and adjusted EBITDA grew strongly in 2025, with free cash flow and leverage targets exceeded. Strategic partnerships in Egypt and Canada, along with a focus on margin-accretive growth, position the company for continued deleveraging and profitability in 2026.
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Q3 2025 saw strong revenue and EBITDA growth, led by immunoglobulins and biopharma, with improved free cash flow and leverage. Guidance for 2025 is reaffirmed, despite FX and IRA headwinds, and the pipeline remains robust with key launches on track.
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H1 2025 saw robust revenue and EBITDA growth, margin expansion, and strong Free Cash Flow, driven by Biopharma and Diagnostics. Leverage hit a five-year low, dividend payments resumed, and guidance for 2025 was reaffirmed despite FX and pricing pressures.
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Q1 2025 delivered record revenue, EBITDA, and free cash flow, with strong growth in biopharma and diagnostics. Guidance for 2025 is reaffirmed, supported by robust demand, operational efficiencies, and a resilient global supply chain, despite ongoing policy and macroeconomic uncertainties.
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Targets €10 billion revenue by 2029 and €14 billion by 2034, with a focus on biopharma-led growth, margin expansion, and innovation. Operational improvements, disciplined capital allocation, and new product launches underpin a 7% revenue CAGR and 10% EBITDA CAGR through 2029.
Fiscal Year 2024
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Record revenues and EBITDA were achieved in 2024, driven by strong Biopharma growth and operational efficiencies. Free cash flow and deleveraging exceeded expectations, while innovation and sustainability advanced. Guidance for 2025 and further strategic details will be shared at Capital Markets Day.
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Q3 2024 saw double-digit revenue and EBITDA growth, improved free cash flow, and reduced leverage, with Biopharma and IG franchises leading performance. Management remains confident in meeting full-year guidance and further deleveraging, supported by strong demand and operational improvements.
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Revenue grew 7.5% year-over-year in H1, with strong BioPharma and albumin performance, and adjusted EBITDA up 22%. Debt reduction advanced via Shanghai RAAS divestment, and full-year guidance for revenue, EBITDA, and positive free cash flow is reaffirmed.