Grifols, which has not presented its accounts on the market since the first half of 2021, announced on Monday that last year it received 4,933.1 million euros, 7.6% less. The pandemic has caused Grifols to substantially cut its capacity to supply plasma, which is the raw material needed to produce its medicines, and hence the fall in its profits, although the company stresses that obtaining plasma gains boost and that increased by 4% in the last three quarters, according to Efe.
By division, the main one, called Bioscience, related to the manufacture and marketing of plasma-derived medicines, contributed 3,815 million euros, 10.1% less. The Diagnostic division, dedicated to the manufacture and development of devices, instrumentation and reagents for transfusion medicine, contributed 779.1 million, an increase of 0.4%, while the hospital generated 141.2 million (+ 19%) and the so-called Bio Supplies contributed 225.8 million more (+ 0.7%).
The total volume of plasma collected during 2021 by the Grífols family company fell by 4% compared to 2020, acknowledges Grifols, which has designed a new compensation scheme for donors and is confident that the recovery of plasma volumes “accelerate over 2022”. Of the 503 million impact on ebitda caused by the pandemic, 420 million are derived from lower plasma volumes, and another 150 million from the largest financial compensation paid to donors, although sales of covid screening tests they had a positive impact of 68 million.
Since the start of the plasma supply problems, Grifols has devoted a lot of resources to acquiring donation centers from other companies, and is currently immersed in the purchase of the German Biotest. In fact, Grifols spent 520 million on acquisitions in 2021, 394 of which were to strengthen its access to plasma and the other 126 million to its capacity for innovation, with bets on companies such as Alkahest and GigaGen.
Optimistic forecasts
Grifols expects to return to growth and improve profitability as plasma donations return to normal, the company said in a statement, adding that it expects revenue and margins to improve progressively over 2022 with the support of geographic diversity. of products, strong demand, a favorable price environment and lower cost per liter. Grifols says that the centers acquired from other companies and the new openings will provide an additional capacity of 2 million liters of plasma per year.
Last year, Grifols invested 329.3 million euros in R & D and allocated 280.9 million euros to capital investments.