Grifols(US:GRFS)2025-07-29 16:30Financial Performance - H1 2025 revenue reached €3677 million, a 70% increase at constant currency (cc)[14] - H1 2025 adjusted EBITDA was €876 million, up 127% cc[14] - Free cash flow pre-M&A for H1 2025 was -€14 million, an improvement of €182 million compared to H1 2024[-196 million][14] - The leverage ratio decreased to 42x in H1 2025, compared to 46x at the end of FY24[14] Business Segment Performance - Biopharma revenue grew by 82% cc in H1 2025[17] - Diagnostic revenue increased by 28% cc in H1 2025[23] Margin Expansion - Adjusted EBITDA margin increased by 80 bps in H1 2025, despite the IRA impact[17] - Like-for-like adjusted EBITDA margin increased by 171 bps in H1 2025[17] Capital Allocation - An interim dividend of €015 per share was reinstated[14] - Liquidity stands at €14 billion[43] Future Outlook - The company reaffirmed its 2025 guidance and improved its free cash flow pre-M&A guidance to €375 - €425 million[47]