Grifols´net profit rose 31.4% in the first half of 2009 to 81.7 MM euros
In the first half-year period, revenue increased to 470.5 MM euros, an increase of 15.6% from the same period last year
Grifols, a holding company specialized in the pharmaceutical-hospital sector and one of the world´s leading producers of plasma derivatives, has reported revenue of 470.5 MM euros in the first half of 2009, an increase of 15.6% from the same period last year. Revenue amounted to 234.9 MM euros between April and June this year, 14.3% higher than in the same quarter last year.
All divisions posted higher revenues. Noteworthy was the sustained increase in volume sales of and stable prices of plasma derivatives seen from the first three months of the year, driving a 14.8% increase in revenue from the Bioscience division to 351.0 MM euros. The performance in the first half of 2009 also bears out the acquisition-led growth strategy adopted for the Diagnostic division, with the purchase in March of 49% of the Australian-Swiss group Lateral Diagnostics for 25 MM euros. Extracting synergies and consolidating the stake in this company helped push revenue at Grifol´s Diagnostic division over 50.8 MM euros, 16.8% higher than the 43.5 MM euros reported in 1H08. Meanwhile, Hospital division revenues increased 6.3% to 45.1 MM euros.
In addition to its strong sales performance, Grifols maintained its policy of cost containment and control, which helped boost the EBITDA margin to 29.9% from 29.0% in the first half of last year. Gross operating profit in 1H09 was 140.8 MM euros, an increase of 19.2% compared with the first half of 2008.
Net profit through June rose 31.4% to 81.7 MM euros, leaving a net margin of 17.4% compared to 15.3% in the first six months of 2008.
Net financial debt at 30 June 2009 stood at 532.7 MM euros, or 2.1x EBITDA, in line with the year-ago figure. Grifols continues to boast a solid balance sheet.
Despite the economic environment, Grifols managed to sustain the growth of revenue in 2Q09
In the second quarter of 2009, Grifols´revenues rose 14.3% to 234.9.1 MM euros. EBITDA rose 16.8% between April and June to 68.42 MM euros and net profit by 29.1% to 40.1 MM euros.
These results underscore the overall performance of the industry, where demand continues to rise and in which Grifols boasts considerable competitive advantages thanks to its ability to obtain plasma from fractionation. They also reflect the group´s growth strategy, aimed at boosting other core businesses and stepping up its international footprint.
<< Back to News
| |
|
News
