Report
Grifols B : H2 2021 results below our estimates on higher R&D with better plasma supply trends for 2022e (in line)
>H2 2021 sales in line - Grifols has published FY 2021 results: group sales decreased -10% to € 2.4bn (vs -5% posted in H1 2021) with organic growth excluding forex of -10% vs +2.3% in H1 2021. Group revenues were in line with our estimates but missed consensus expectations by 11%. The sales decline was mainly due to the bioscience business posting a 12% contraction in sales or -12% excl. forex (vs -8% posted in H1 2021 or -0.1% excl. forex), in line with our estimate...
Underlying
Grifols S.A. Pref Class B
Provider
Oddo BHF
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.
Isabel Carballo
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