Quarterly ResultMay 7, 2026, 02:43 PM
Grifols Q1 Revenue €1.7B, +3.3% cc; Refinances 2027 Debt
AI Summary
Grifols reported Q1 2026 revenue of €1,700 million, a 3.3% increase at constant currency, driven by strong Biopharma growth (+6.8% cc). Adjusted EBITDA reached €381 million, up 0.8% cc, with a stable margin of 22.4%. Group profit increased 21.9% year-on-year to €73 million, and free cash flow pre-M&A improved by €30 million. The company successfully refinanced all 2027 debt maturities, strengthening its balance sheet and financial flexibility, and saw multiple credit rating upgrades. Strategic initiatives like the Egypt self-sufficiency project are advancing, and Grifols is evaluating a potential IPO of its U.S. Biopharma business.
Key Highlights
- Q1 2026 Revenue: €1,700 million, up 3.3% at constant currency.
- Adjusted EBITDA: €381 million, up 0.8% at constant currency, with a 22.4% margin.
- Group Profit: Increased 21.9% year-on-year to €73 million.
- Free Cash Flow pre-M&A: Improved by €30 million year-on-year to minus €8 million.
- Leverage Ratio: Stood at 4.3x in Q1 2026.
- Debt Refinancing: Successfully refinanced all 2027 debt maturities, strengthening financial flexibility.
- Biopharma Revenue: Increased 6.8% at constant currency, with IG franchise up 15.3% cc.
- Strategic Initiatives: Egypt plasma collection expected to reach 1 million liters in 2026.