Grifols receives a punishment in the stock market despite tripling profits until September
Grifols has become a protagonist this Wednesday within the Ibex 35, where the shares of the blood products manufacturer have been registering a severe punishment since the opening, since it fell more than 3% and fell to July lows. The Barcelona-based company has achieved triple its net profit between January and September compared to the same period of the previous year up to 304 million euros (about 349 million dollars).
In the first nine months of the year, the firm increased revenue by almost 6% to 5,542 million, with the Biopharma unit as the main driver of the business, with 4,773 million in revenue, 7.1% more, as reported on Tuesday to the National Securities Market Commission (CNMV). Despite these figures, analysts fear the impact that the exchange rate, the competitive environment in the United States and the cost pressure associated with plasma may have on their accounts.
From JPMorgan they encrypt that negative hit of currencies by about 200 million for fiscal year 2025which would imply a 2% cut in gross revenues and adjusted EBITDA. For Bankinter analyst Pedro Echeguren, consulted by EFEGrifols’ third quarter results are in line with expectations, although the updated net profit (BNA) is somewhat lower than expected, while cash flow is moderate and debt is not reduced.
The entity has pointed out that the risks for Grifols include the company’s high debt and a corporate structure with poorly explained cross-business relationships between the majority shareholders and the company. “After a year with doubts about debt and corporate governancethe market ‘sells the news,'” says Sergio Ávila, from IG. From Morgan Stanley they point out how the new forecasts “involve a slight adjustment” to the consensus on currencies, something that Grifols management had already anticipated in recent months.
