Grifols reports 8.7% boost in turnover

Grifols has announced its financial figures for the first nine months of 2007, with the company reporting an 8.7 per cent increase in business turnover over the same period last year to 524.4 million euros (366.16 million pounds).

During the period, the company reported an EBITDA of 131.8 million euros, equivalent to 25.1 per cent of its sales and representing a 32.1 per cent rise over the first nine months of 2006, while net profit rose 128.5 per cent to 64.9 million euros.

In August, the European Medicines Agency granted marketing authorisation for new generation of intravenous immunoglobin in Europe under the Flebogammadif brand name, with distribution of the drug to begin in 2008.

“Grifols net financial debt / EBITDA ratio stood at 2.3 in September 2007, a similar figure to that recorded in December 2006,” the company reported.

“This level of leverage means that Grifols enjoys a wide margin with which to implement its investment plan through the use of external resources.”

In the first nine months of the year, the company reported an 11.2 per cent increase in bioscience growth, with turnover reaching 366.3 million euros, with an upward trend in volume and prices of its main plasma products.

Earlier this year, Grifols announced an 11.4 per cent rise in revenues for the first six months of the year, up to 358 million euros.