Grífols makes a profit of €182.2 million during the first half of 2013, an increase of 36.9% on last year
The Catalan pharmaceutical company posted a net profit of €182.2 million between January and June 2013, which represents an increase of 36.9% on the same period of 2012. 92.1% of Grífols sales are made abroad and this figure has reached €1.27 billion, up from 6.2% on the first half of last year. Total turnover stood at €1.38 billion, a 4.9% increase. Furthermore, between April and June, the multinational based in Greater Barcelona obtained its highest ever quarterly sales in absolute terms, which reached €697.1 million and represented a 7.2% increase on the same period of 2012. Last year, Grífols bought out its main competitor in the US, Telecaris, which made the Catalan company one of the main pharmaceutical companies in North America, particularly in the blood-derivate products.
Barcelona (ACN).- The Catalan pharmaceutical company Grífols has released its half-yearly figures, which show a significant increase in its profit levels on top of a notable rise in its turnover. The company, based in Sant Cugat del Vallès (Greater Barcelona), reported a growth in profit levels of 36.9% on the same period of 2012 to reach €182.2 million. Furthermore, foreign sales increased by 6.2% to €1.27 billion, which represents 92.1% of their total sales. Grífols’ total turnover in the first 6 months of the year was €1.38 billion, a growth of 4.9%. Furthermore, between April and June the company’s quarterly sales in absolute terms were their highest ever reaching €697.1 million, a 7.2% increase on last year’s same period. Grífols is the third world’s largest pharmaceutical company producing haemo-derivatives, the pharmaceutical product that derives from blood plasma. In 2012 it brought out its main competitor in the US, Telecaris, which has since made the Catalan company one of the main pharmaceutical companies in North America. Grífols distributes its products to more than 90 countries. Its subsidiaries operate directly in 24 countries including the US, Spain, Australia, China, Switzerland, Canada and Brazil.
The Catalan company has focused on selling its products on an international scale and has recently increased its market share in Latin America and the Asia-Pacific region. Their business strategy has been to focus on regions with better economic prospects and lower payment periods. Furthermore, following a financial restructuring process that took place in early 2012, the company’s financial expenses for the first half of 2013 were reduced by 11.2%, which has positively affected its net profits. The profit percentage over sales reached 13.2% between January and June2013, while it had been 10.1% in the previous half-year.
A multinational pharmaceutical group
Grífols has been able to increase its profit margins through an increase in international sales and cooperation. In 2012 the company increased its presence in the Chinese market through an agreement with the Shanghai Blood Bank. This is on top of a 2011 deal in China which involved the sale of one of the company’s plasma products, albumin, and increased its sales in the Asian country by 30%. What is more, Grífols aims to break into the Middle East market following opening a branch in Dubai. Sales in Spain only represented 7.9% of Grífols’ total turnover in the first half of 2013 and reached €108.5 million, after having dropped by 8.5% compared to a year ago.
A world leader in blood derivative products
The Catalan company was founded in 1940 when a father and his two sons created Grífols laboratories. Their progress resulted in the first private blood bank to be opened in Spain in 1945, the “hemobanco”. Nowadays the company employs around 11,500 people. Between 2013 and 2015, the pharmaceutical giant is planning to invest €400 million, 30% of which will be in Spain.