Grifols: shares flat after mixed quarterly results

(CercleFinance.com) - Shares in Spain's Grifols were trading higher on Tuesday after the blood product maker said quarterly sales rose, even though its operating margin slightly disappointed.


The Barcelona-based drug company said first-quarter revenues grew 11.8% to 1.29 billion euros, driven by its bioscience division, mainly helped by demand for immunoglobulins.

Reported EBITDA increased by 15% to 351 million euros, with a 27.2% margin, missing the consensus, while net profit jumped to 186 million euros, from 114 million euros a year ago.

Grifols' shares - which have been one the best performing shares on the Spanish blue chip IBEX 35 index this year, resisting bearish trends with a pretty flat performance - were up 0.2% on Tuesday morning.

Note that Grifols is currently developing an anti-SARS-CoV-2 immunoglobulin, a treatment using plasma from COVID-19 patients who have recovered, along with a highly sensitive diagnosis test.

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