Grifols Reports Q3 2026 Growth Driven by Biopharma and Improved Deleveraging
Grifols (GRFS) reported strong third-quarter results for 2026, with group net revenue reaching EUR 2.04 billion, an 8.4% increase at constant currency. This growth was primarily propelled by the Biopharma segment, which saw a 10.3% rise driven by immunoglobulins and specialty proteins. Notably, subcutaneous immunoglobulin (IG) revenue surged by 40.3%, reflecting a significant market shift toward flexible treatment modalities. The company demonstrated improved financial health as net leverage fell below 4.0x for the first time since June 2024, reaching 3.98x. Free cash flow also saw a substantial year-over-year increase of 59% for the first nine months. While albumin revenue faced headwinds in China due to regulatory restrictions and high inventories, overall operating discipline helped expand adjusted EBITDA margins to 26.4%.
Topics: Deleveraging Dividend Announcement EBITDA Free Cash Flow Revenue Growth