Grifols Reports 2.6% Revenue Growth and Strong Biopharma Performance in First Half of 2026

Earnings
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Grifols SA reported a 2.6% revenue increase at constant currency to EUR3,574 million for the first half of 2026, driven by 5.4% growth in its Biopharma segment. Adjusted EBITDA reached EUR854 million for the half, with a margin close to 24%, while net income rose 28.7% year-on-year to EUR227 million. Free cash flow improved by approximately EUR100 million, and the company highlighted a 12.8% constant-currency increase in immunoglobulin sales, including nearly 34% growth for Xembify in the second quarter. Grifols also noted progress in its plasma strategy with developments in Egypt and Canada, and is considering a potential IPO of its U.S. Biopharma business. Temporary headwinds in albumin, particularly in China, and one-off costs from closing 29 U.S. donation centers impacted gross margins, which stood at 37.1% for the half.

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