Grifols sees net profits rise 13.2% as revenues jump 17%

Spanish healthcare company building $100m operations centre in Dublin

Grifols recently announced plans to move its corporate treasury activities from Barcelona to Dublin
Grifols recently announced plans to move its corporate treasury activities from Barcelona to Dublin

Grifols, a Spanish healthcare company that recently announced plans to move its corporate treasury activities from Barcelona to Dublin, said 2015 revenues rose 17.3 per cent to €3.95 billion with net profit up 13.2 per cent to €532 million.

The company announced 140 jobs with a new $100 million investment in its biosciences division global operations centre in Dublin last October. According to its latest results, the biosciences division revenues exceeded €3 billion for the first time in the final three months of the year with an 18.8 per cent growth in the fourth quarter.

Grifols, which has 14,737 employees - more than half of which are in the US, said recurring sales, excluding raw materials, jumped 16.4 per cent in the period October to December.

Full-year earnings before interest, taxes, depreciation and amortisation (ebitda) was up 11 per cent to €1.16 billion with an ebitda margin of 29.5 per cent.

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The company said net investment in research and development rose 21.2 per cent over the year to €236 million, equivalent to 6 per cent of total revenues. Some €266 million, equivalent to 5.8 per cent of revenues was allocated to capital expenditure over the year with investments in new plasma donor centres and industrial assets accelerating.

At the end of the year, the group’s cash balanced totalled €1.14 billion, while its liquidity position exceeded €1.6 billion.

The Ibex-listed company said its new Grange Castle-based 22,000 metre site facility, which will house operating activities such as the warehousing of plasma, product labelling, and administrative and commercial activities, is expected to come on stream early this year.

Charlie Taylor

Charlie Taylor

Charlie Taylor is a former Irish Times business journalist