Grifols Reports Q2 2026 Earnings with Strong Biopharma and IG Franchise Growth
Grifols (GRFS) reported first-half revenue of €3.574 billion, a 2.6% increase at constant currency in 2026. The company's biopharma segment grew by 5.4%, while the immunoglobulin franchise saw an impressive 12.8% growth driven by strong demand in the U.S. and Europe. Xembify revenue surged nearly 34% during Q2, reflecting sustained underlying demand. Adjusted EBITDA reached €472 million for the quarter with a margin of 25.2%, while free cash flow improved significantly to €91 million before M&A in H1 compared to last year. Despite challenges such as donor center closures and currency fluctuations affecting leverage figures, Grifols maintained its full-year guidance for $500–$575 million in free cash flow. The company is also expanding plasma sourcing outside the U.S., particularly through Egypt, aiming to increase ex-U.S. collections by 2.5 times by 2029.
Tickers: $GRFS