Grifols A : Q4 2023 earnings below expectations. Breakeven FCF guidance for FY 2024 implies further disposals to meet the 4x ND/EBITDA goal
>Top line back to its usual cruising speed - Sales grew by +3% or +9% cc (vs +9% cc in Q3) reaching € 1.8bn, somewhat below our numbers yet more aligned with the consensus. Biopharma posted a +5% y-o-y growth or +10% cc (vs +14% cc in Q3) to € 1.5bn driven by: i/ solid plasma collection growth (+10% in FY 2023 vs +10% in 9M), ii/ IGg demand (higher Xembify demand in the US and robust IGg demand in Europe) and price upticks, iii/ AAT uptick in Q4 (+2% cc) but still im...Grifols is engaged in developing, manufacturing and distributing a range of plasma derivative products. Plasma derivatives are proteins found in human plasma, which once isolated and purified, have therapeutic value. These protein-based therapies extend the lives of individuals who suffer from chronic and acute conditions. Co. also specializes in providing infusion solutions, nutrition products, medical devices, diagnostic instrumentation and reagents for use in hospitals and clinics. Co.'s products and services are used by healthcare providers in approximately 100 countries. Co.'s business is organized into three divisions: Bioscience, Diagnostic, Hospital and Raw Materials.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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