Grifols reported net profit of €390 million in the first nine months of the year, up 28.9% from the same period a year earlier. The improvement was driven by the performance of its biofarma division, lower financial costs and the impact of a cost-adjustment plan.
Group revenue returned to growth after a subdued first half, reaching €5.614 billion, an increase of 1.3%. Adjusted EBITDA stood at €1.392 billion, broadly in line with the previous year, while the EBITDA margin improved by three tenths of a percentage point to 24.8%. At constant exchange rates, adjusted EBITDA increased 5%, in line with the company’s targets for the year.
Grifols attributed the business improvement to higher volumes, strong growth in subcutaneous immunoglobulins and the optimization of its plasma-center network, including around 30 closures in the United States. Greater operating efficiency and tighter expense management helped offset weaker albumin activity in China.
The company’s financial result improved by 20%, although it remained negative at €371 million. Grifols linked the change to the refinancing completed in the spring and said it has no significant debt maturities until the end of 2028.
Biofarma, which accounts for 88% of the group’s business, grew 3.7%. Grifols has been examining a possible stock-market listing for the division in the United States, but has not provided an update on the operation.
The group continues to focus on generating free cash flow, reducing leverage and improving financial flexibility. At the end of September, net debt stood at 3.98 times EBITDA, down from 4.2 times a year earlier. Financial net debt, calculated under the terms agreed with creditors, amounted to €7.706 billion.
Grifols also approved an interim dividend of €0.15 for each share, charged against the 2026 results. The total payment will amount to approximately €100 million.
Sources: La Vanguardia.