Grifols, the Spanish plasma‑derived medicines group, reported a 2025 net profit of €402 million, more than double the €157 million recorded in 2024, and a revenue of €7.524 billion, up 7% year‑over‑year. The growth was driven by robust demand for its immunoglobulin and albumin products in over 110 countries, with the Biopharma segment—particularly the immunoglobulin franchise—providing the largest contribution to the top line.
The company’s operating performance continued to improve, with adjusted EBITDA reaching €876 million in the first half of 2025, a 12.7% increase at constant currency. Full‑year adjusted EBITDA margin expanded to 24.3%, up from 22.8% in 2024, reflecting a favorable mix shift toward higher‑margin products and effective cost control. The company’s leverage ratio fell to 4.2× from 4.6× in 2024, and liquidity stood at €1.7 billion, underscoring a stronger balance sheet.
Management reiterated its 2025 guidance, maintaining a positive outlook for free cash flow and reaffirming the Value Creation Plan that has delivered operational and financial gains. In a July 2025 update, the company raised its free‑cash‑flow‑pre‑M&A guidance to €375‑425 million. CEO Nacho Abia said, “2025 was a year of successful execution. We strengthened our franchises, improved free cash flow and reinforced our balance sheet with a deleverage focus, positioning the company to continue creating value for all our stakeholders.”
The company also highlighted progress under the Value Creation Plan, noting that the Biopharma business unit continued to capitalize on strong underlying demand while advancing key priorities. CFO Rahul Srinivasan added, “We are confident about Grifols' highly differentiated strategy and positioning, which has been many years in the making and will support our continued margin improvement‑led EBITDA growth, enhanced free cash flow generation and deleveraging path.”
Grifols’ 2025 results also set the stage for future growth, with the approval of its fibrinogen product in Europe late 2025 and an expected U.S. launch in Q2 2026. The company’s full‑year revenue beat analyst expectations, and the net‑profit doubling signals strong execution and a resilient business model in a competitive biopharmaceutical landscape.
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