Grifols’ Q4 and FY 16 results came in largely in line with our expectations. Q4 16 revenue increased 3% yoy to €1.1bn, mainly driven by the Bioscience division, but partially offset by the weakness in the Diagnostic business. Profitability continued to be sluggish, with EBITDA declining 2% to €298m (the margin decreased 137bp to 27.2%), plagued by declining royalties from the transfusion diagnostics unit and higher plasma costs. For the full year, while revenue was up 3% to &e
15 Mar 2017
Strong Bioscience but margin pressure continues
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Strong Bioscience but margin pressure continues
Grifols, S.A. Class A (GRF:WBO) | 0 0 1.0% | Mkt Cap: 14,874m
- Published:
15 Mar 2017 -
Author:
Jyoti Prakash -
Pages:
3
Grifols’ Q4 and FY 16 results came in largely in line with our expectations. Q4 16 revenue increased 3% yoy to €1.1bn, mainly driven by the Bioscience division, but partially offset by the weakness in the Diagnostic business. Profitability continued to be sluggish, with EBITDA declining 2% to €298m (the margin decreased 137bp to 27.2%), plagued by declining royalties from the transfusion diagnostics unit and higher plasma costs. For the full year, while revenue was up 3% to &e