The Catalan pharmaceutical company closed the first half of 2026 with a net profit of €227 million, 28.7% more than the previous year, although its revenues fell by 3% to €3.574 billion.
Grifols achieved a net profit of €227 million in the first half of 2026, representing a 28.7% increase compared to the same period last year. The Catalan pharmaceutical company reported revenues of €3.574 billion, 3% less than the €3.677 billion recorded in 2025, although the company highlights that at constant exchange rates, revenues grew by 2.6%.
The gross operating result (EBITDA) reached €854 million, 2% more than in the first half of 2025. The company attributes this improvement in profitability to the disciplined execution of its strategy and the continued strength of the business.
Grifols' CEO, Nacho Abia, stated in a press release that the results reflect the strength of the business and the disciplined execution of the strategy. "We remain focused on driving sustainable growth, improving operational efficiency, and strengthening our financial position," he said. Abia also highlighted progress in strategic priorities, such as advancements in Egypt, the evolution of the operating model, and progress in the innovation pipeline.
The analysis firm Renta 4 had already anticipated a slowdown in Grifols' growth, linked to the closure of several plasma donation centres in the United States in recent months. The company is redirecting its network of centres towards new markets such as Egypt and Canada, aiming to reduce its dependence on the US market, from which it obtains most of its plasma.
This restructuring process has generated extraordinary costs in the quarter. Additionally, Grifols has begun to create a differentiated operational structure in the United States compared to the rest of the world, a decision whose benefits it expects to reap in the medium term.
By business area, Biopharma remains the growth engine, with a revenue increase of 5.4% between January and June, driven particularly by immunoglobulin. In contrast, revenues from albumin treatments fell by 14% at constant exchange rates, due to price declines in China, although the company expects to stabilise this trend soon. The Diagnostic area recorded a 9.7% drop in sales, as a result of the early termination of the joint venture with the US company QuidelOrtho.
For investors and analysts, these results show an improvement in profitability despite the revenue decline, reflecting cost control and a strategic execution focused on efficiency. The reduction of dependence on the United States and expansion into new markets like Egypt are key factors to watch in the coming quarters.
Grifols expects to continue investing in long-term opportunities that drive sustainable value creation. The company will present its full results in the coming days and provide more details on its outlook for the year as a whole.
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