The plasma derivatives manufacturer Grifols has announced in a meeting with investors that it has managed to increase plasma uptake by 20% compared to a year ago, and 25% compared to the end of last year, reaching pre-pandemic levels. The company took advantage of the meeting, held at its headquarters in Sant Cugat, to deny rumors that it is negotiating a capital increase, and both factors boosted the recovery of the stock on the stock market: after the 12.3% drop in Wednesday today has led the rises of the Ibex, with a rise of 6.15%.
Raimon and Víctor Grífols, joint CEOs of the group, explained at the analyst meeting that the group will increase its plasma collection centers by 76 this year, up to 442 centers, including 31 in Europe corresponding to Biotest, 10 in Egypt and 1 in Canada, first fruit of the collaboration agreement with the public health of that country.
The group has already recovered plasma uptake levels from before the pandemic. The firm, he explained, was harmed by the drop in donations in the US due to the confinement in 2020, the border restrictions on the entry of foreign donors and in 2021 by the US government's fiscal stimulus program, which discouraged those who donate plasma for the economic compensation they receive.
The group has partially reversed this effect by increasing payments to donors. Grifols also has investments underway to increase its plasma fractionation capacity, from the current 22 million liters to 26 million liters in 2026.
The company reiterated its purpose of reducing its indebtedness, today from 7.5 times its operating profit or EBITDA, to 4 times. In part this will be due to the recovery of EBITDA itself, but also because it will not distribute a cash dividend, it will divest or close non-strategic activities and prioritize its investment plan.
Grifols has reached 6,500 million euros of debt due to the impact of the purchase of its German competitor Biotest. According to different media, which cited market sources, the pharmaceutical company would have negotiated with several funds a capital increase of up to 2,000 million euros, the equivalent of almost 20% of the group's capital.
