Grifols' stock market rises due to positive earnings prospects

BarcelonaHas Grifols put its stock market losses behind it? The multinational blood products company leads the Ibex 35's gains this Wednesday, rising 5.19% to €11.36 per share. The stock's performance is based on JP Morgan's forecasts, which predict solid second-quarter results and sustained growth in the company's profitability, which appears to have put the losses caused by allegations of accounting malpractice at the Gotham City fund behind it.

The JP Morgan report recalls that Grifols will publish its quarterly accounts on July 29The company expects revenue growth of 7.9% in constant currency. One of the highlights is the improvement in profitability. JP Morgan projects a sequential expansion of the adjusted EBITDA margin of 3.2 percentage points, reaching 25.6%, thanks to efficiencies in plasma usage, a more favorable sales mix, and some operating leverage on certain expenses. Overall, adjusted EBITDA is projected to reach €487 million, 8% higher than the market consensus and 11% higher than a year ago.