Financials Grifols, S.A.

Equities

GRF

ES0171996087

Pharmaceuticals

Market Closed - BME Other stock markets 16:35:16 16/07/2025 BST			5-day change	1st Jan Change
12.14 ^EUR	+4.34%		+12.41%	+32.71%

07-16	European Equities Traded in the US as American Depositary Receipts Decline in Wednesday Trading	MT
07-16	Grifols to build plant in Spain to double its plasma fractionation capacity	RE

Projected Income Statement: Grifols, S.A.

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net sales ¹	5,340	4,933	6,064	6,592	7,212	7,638	8,179	8,618
Change	-	-7.62%	22.92%	8.71%	9.41%	5.9%	7.08%	5.37%
EBITDA ¹	1,479	961.5	1,221	1,455	1,779	1,881	2,137	2,304
Change	-	-34.99%	26.99%	19.13%	22.32%	5.73%	13.6%	7.8%
EBIT ¹	996.1	595.1	805.7	1,023	1,357	1,385	1,609	1,742
Change	-	-40.26%	35.39%	26.98%	32.6%	2.06%	16.25%	8.26%
Interest Paid ¹	-177.7	-277.8	-462.7	-534.5	-661.9	-605.9	-575.2	-536
Earnings before Tax (EBT) ¹	878.6	350.5	361.3	224	444	708.9	935.7	1,136
Change	-	-60.11%	3.08%	-37.99%	98.2%	59.66%	32%	21.38%
Net income ¹	618.5	182.8	208.3	59.32	156.9	425	614.2	759.9
Change	-	-70.45%	13.94%	-71.52%	164.55%	170.82%	44.53%	23.72%
Announcement Date	26/02/21	28/02/22	28/02/23	28/02/24	26/02/25	-	-	-

¹EUR in Million

Estimates

Fiscal Period: December	2020 Q1	2020 Q2	2020 Q3	2020 Q4	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4
Net sales ¹	1,293	1,384	1,353	1,309	1,185	1,352	1,198	1,198	1,405	1,543	1,541	1,713	1,561	1,663	1,597	1,770	1,626	1,818	1,793	1,976	1,786	1,905	1,907	2,067
Change	-	7.01%	-2.21%	-3.25%	-9.52%	14.11%	-11.37%	0%	17.26%	9.81%	-0.12%	11.15%	-8.83%	6.53%	-3.97%	10.77%	-8.13%	11.82%	-1.37%	10.2%	-9.62%	6.7%	0.06%	8.41%
EBITDA ¹	351.1	387.8	313.2	434	296.8	337.7	-	-	248.2	-	308	294	298.8	360.7	373.6	426.3	350.4	440.8	462.1	525.9	400.5	466.4	444.7	515.2
Change	-	10.44%	-19.23%	38.57%	-31.61%	13.78%	-	-	-	-	-	-4.55%	1.62%	20.74%	3.56%	14.13%	-17.81%	25.79%	4.83%	13.82%	-23.86%	16.47%	-4.66%	15.86%
EBIT ¹	273.6	148.1	322.8	251.6	213	250.6	-	-	-	-	173.4	176.9	175.7	253.6	264.4	329.3	203.8	299.3	317	419.2	268.9	330.1	333	369.6
Change	-	-45.86%	117.92%	-22.04%	-15.38%	17.68%	-	-	-	-	-	2.06%	-0.68%	44.33%	4.24%	24.54%	-38.11%	46.87%	5.92%	32.22%	-35.86%	22.78%	0.86%	11.02%
Charge d'intérêts ¹	-16.85	-61.73	-57.54	-44.2	-58.7	-60.74	-	-	-	-	-	-	-134.7	-139.4	-150.9	-	-156.6	-185.7	-158.3	-161.3	-153.6	-153.6	-	-
Earnings before Tax (EBT) ¹	251.3	75.87	348.9	202.6	188.7	189.5	-	-	-	-	66.69	46.88	-84.17	103.2	99.59	105.4	47.06	66.98	119.4	210.5	115.3	177.5	-	-
Change	-	-69.81%	359.81%	-41.92%	-6.86%	0.41%	-	-	-	-	-	-29.71%	-279.56%	222.63%	-3.52%	5.82%	-55.35%	42.33%	78.3%	76.31%	-45.25%	53.99%	-	-
Net income ¹	186.4	31.87	267.4	132.9	129.9	136.9	-	-	-	-	45	20.07	-108.3	52.04	59.54	55.99	21.42	14.84	51.69	68.97	59.72	111.3	121.3	158.3
Change	-	-82.9%	739.23%	-50.32%	-2.2%	5.34%	-	-	-	-	-	-55.4%	-639.39%	148.07%	14.41%	-5.97%	-61.74%	-30.71%	248.3%	33.42%	-13.4%	86.39%	9.01%	30.42%
Announcement Date	21/04/20	30/07/20	05/11/20	26/02/21	04/05/21	29/07/21	28/02/22	28/02/22	28/07/22	28/07/22	08/11/22	28/02/23	09/05/23	27/07/23	02/11/23	28/02/24	14/05/24	30/07/24	07/11/24	26/02/25	12/05/25	-	-	-

¹EUR in Million

Estimates

Fiscal Period: December	2021 S1	2021 S2	2022 S1	2022 S2	2023 S1	2024 S1	2025 S1
Net sales ¹	2,537	2,396	2,810	3,254	3,225	3,444	3,679
Change	-	-5.52%	17.26%	15.79%	-0.89%	6.78%	6.84%
EBITDA ¹	634.5	327	618.3	602.7	659.5	791.2	867.8
Change	-	-48.46%	89.08%	-2.52%	9.42%	19.97%	9.68%
EBIT ¹	463.6	131.5	427.3	378.3	-	503.1	599.9
Change	-	-71.63%	224.94%	-11.47%	-	-	19.24%
Charge d'intérêts ¹	-119.4	-158.4	-197	-265.7	-274.1	-342.3	-307.2
Earnings before Tax (EBT) ¹	378.2	-27.78	227.9	133.4	19.05	114	292.8
Change	-	-107.35%	920.27%	-41.48%	-85.72%	498.73%	156.77%
Net income ¹	266.8	-84.01	143.6	64.63	-56.22	36.26	164.3
Change	-	-131.49%	270.99%	-55.01%	-186.99%	164.49%	353.13%
Announcement Date	29/07/21	28/02/22	28/07/22	28/02/23	27/07/23	30/07/24	-

¹EUR in Million

Estimates

Forecast Balance Sheet: Grifols, S.A.

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net Debt ¹	6,436	6,695	9,158	9,337	9,187	9,059	8,588	8,044
Change	-	4.02%	36.79%	1.95%	-1.61%	-1.39%	-5.2%	-6.33%
Announcement Date	26/02/21	28/02/22	28/02/23	28/02/24	26/02/25	-	-	-

¹EUR in Million

Estimates

Cash Flow Forecast: Grifols, S.A.

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
CAPEX ¹	308.1	280.9	266.5	295.4	371.4	379.7	416.3	462.3
Change	-	-8.83%	-5.13%	10.86%	25.71%	2.25%	9.63%	11.05%
Free Cash Flow (FCF) ¹	802.2	316.1	-277.4	-87.14	530.8	739.9	765.7	785.3
Change	-	-60.6%	-187.75%	68.58%	709.16%	39.39%	3.48%	2.57%
Announcement Date	26/02/21	28/02/22	28/02/23	28/02/24	26/02/25	-	-	-

¹EUR in Million

Estimates

Forecast Financial Ratios: Grifols, S.A.

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Profitability
EBITDA Margin (%)	27.7%	19.49%	20.14%	22.07%	24.67%	24.63%	26.13%	26.73%
EBIT Margin (%)	18.65%	12.06%	13.29%	15.52%	18.81%	18.13%	19.68%	20.22%
EBT Margin (%)	16.45%	7.1%	5.96%	3.4%	6.16%	9.28%	11.44%	13.18%
Net margin (%)	11.58%	3.71%	3.43%	0.9%	2.18%	5.56%	7.51%	8.82%
FCF margin (%)	15.02%	6.41%	-4.57%	-1.32%	7.36%	9.69%	9.36%	9.11%
FCF / Net Income (%)	129.7%	172.91%	-133.17%	-146.91%	338.26%	174.11%	124.66%	103.35%
Profitability
ROA	4.01%	1.06%	1.02%	1.04%	0.74%	1.92%	2.64%	3.4%
ROE	12.46%	3.26%	3.57%	3.72%	2.79%	7.49%	9.21%	10.28%
Financial Health
Leverage (Debt/EBITDA)	4.35x	6.96x	7.5x	6.42x	5.16x	4.82x	4.02x	3.49x
Debt / Free cash flow	8.02x	21.18x	-33.02x	-107.16x	17.31x	12.24x	11.22x	10.24x
Capital Intensity
CAPEX / Current Assets (%)	5.77%	5.69%	4.39%	4.48%	5.15%	4.97%	5.09%	5.36%
CAPEX / EBITDA (%)	20.83%	29.21%	21.83%	20.31%	20.87%	20.19%	19.48%	20.07%
CAPEX / FCF (%)	38.4%	88.86%	-96.08%	-339.03%	69.96%	51.32%	54.37%	58.86%
Items per share
Cash flow per share ¹	1.616	0.8759	-0.016	0.3076	1.327	1.047	1.398	1.729
Change	-	-45.78%	-101.83%	2,022.5%	331.37%	-21.11%	33.52%	23.7%
Dividend per Share ¹	0.17	0.36	-	-	-	-	0.1914	0.3791
Change	-	111.76%	-	-	-	-	-	98.01%
Book Value Per Share ¹	11.99	8.945	9.036	8.638	8.657	9.238	10.08	11.21
Change	-	-25.38%	1.01%	-4.41%	0.22%	6.71%	9.15%	11.22%
EPS ¹	0.9	0.27	0.31	0.09	0.23	0.6336	0.9178	1.121
Change	-	-70%	14.81%	-70.97%	155.56%	175.49%	44.84%	22.09%
Nbr of stocks (in thousands)	684,540	682,484	678,911	678,665	679,629	680,409	680,409	680,409
Announcement Date	26/02/21	28/02/22	28/02/23	28/02/24	26/02/25	-	-	-