Grifols maintains its momentum in 2024 and (almost) triples profits again.
The Catalan pharmaceutical company has started the year solidly but has not yet recovered the 9 euro per share mark.
BarcelonaGrifols has started in 2025 as well which closed the previous year: tripling profits. Although the company experienced one of its most turbulent years in 2024 due to the attack by the New York-based fund Gotham, as well as changes at the top and even a failed takeover bid, the Catalan pharmaceutical company made a statement: 2024 was also a record-breaking year. Now, a year after this journey through the wilderness, the Parets-based company continues to boast a solid business: from January to March, the company earned €60 million, 179% more than a year ago.
"The results are above the expected plan," the company highlighted in a statement published on the National Securities Market Commission (CNMV) a few minutes after the end of the stock market session on Monday, in which the pharmaceutical company's shares have grown by 3.22%, to 8. Despite the increase, which tomorrow may be higher depending on how the market interprets the numbers and the usual analysts' conference, the value of the company is considerably lower than a year ago, when the shares were worth 9.80 euros, and far from the 14 euros at the end of 2023 and the 34 euros it was worth before the plasma pandemic.
These results also highlight revenues of €1.786 billion, a 7.4% increase, driven by its largest division: Biopharma segment revenues increased by 6.6% to €1.521 billion, while Diagnostic revenues grew by 5.2%. Overall, operating profit (EBITDA), i.e., earnings before taxes and depreciation and amortization, for the first quarter was €400 million, 14.2% higher than in the first three months of 2024. Free cash flow before mergers and acquisitions grew by €209 million, and firm debt in recent years stood at €8.149 billion. Grifols also announced liquidity of €1.675 billion.
On the corporate front, Grifols also launched a first quarter of this year. a €350 million takeover bid for its German subsidiary Biotest, which was recently approved by the German supervisor.
Results in the midst of the judicial process
Grifols' business figures for the first quarter of this year come in the midst of the judicial process for the Gotham attacks, which is being investigated National Court judge José Luis Calama since November 2024, when it admitted a complaint from the Anti-Corruption Prosecutor's Office against the analysis firm Gotham City and several of its executives for allegedly releasing biased and misleading financial information to the market to lower the share price of the Catalan pharmaceutical company Grifols. Specifically, last Friday, the former president of the CNMV, Rodrigo Buenaventura, testified as a witness in this case and argued that Gotham's objective was to cause the pharmaceutical company's bankruptcy.