Grifols sees net profit jump of 34.8%

Barcelona-based Grifols, which is one of the world’s leading producer of plasma derivatives, achieved its highest quarterly sales revenue in absolute terms in the first quarter of 2013. The company said in a press release it had an income of 683.7 million euros, growing by 2.6%. The impact of currency fluctuations, particularly the euro: dollar rate had a limited impact on sales, which grew by 3.5% in comparable terms at constant currency exchange rate.

Grifols’ activity on international markets has driven the company’s sales, and the Spanish market represents 8.0% of total sales revenue. Sales in foreign markets rose by 4.0%, exceeding 628.9 million euros.

This trend already seen in 2012 has continued during the first quarter of 2013, with particularly impressive performances in regions such as Latin America and Asia, recording growth of 50.6% cc and 40.7% cc, respectively. In Europe, excluding Spain, sales revenue has grown by 6% to 94.5 million euros, while in North America, where demand for plasma proteins continues to rise, sales stand around 410 million euros. This represents a fall of 1.6% (0.5% at cc) as a result of the new conditions attached to contracts in Canada, which had only a limited impact on the period and due to a very difficult comparative with sales reported in the first quarter of 2012, which were exceptionally high.

Overall, 92% of Grifols’ income was generated outside of Spain, and the company’s commercial strategy continues to focus on regions with better economic prospects, shorter payment periods, and higher margins.

The group’s strong internationalization is confirmed by its commercial presence in over 100 countries, with subsidiaries in 24 of these. In addition, with the purchase of Talecris,geographic diversification continues to be fundamental to the group’s growth strategy. Grifols has developed a new integrated global strategy for its logistics and operations systems, designed to optimize distribution infrastructure, improve the efficiency of its operations, and deliver a reduction in costs. Grifols is undertaking a range of initiatives, including the restructuring of its logistic operations.