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基立福Grifols 2025年年度财报「NYSE」(英文版)(44页).pdf

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1、-1-FY 2025 ResultsFY 2025 Results February 26,2026-2-FY 2025 ResultsLegal DisclaimerImportant InformationThis presentation does not constitute an offer or invitation to purchase or subscribe shares,in accordance with the provisions of the Regulation(EU)2017/1129 of the European Parliament and of the

2、 Council of 14 June 2017 on the prospectus to be published when securities are offered to the public or admitted to trading on a regulated market,and repealing Directive 2003/71/EC(as amended and restated from time to time),the Spanish Securities Market and Investment Services Law(Law 6/2023,of 17 M

3、arch,as amended and restated from time to time)and its implementing regulations.In addition,this document does not constitute an offer of purchase,sale or exchange,nor a request for an offer of purchase,sale or exchange of securities,nor a request for any vote or approval in any other jurisdiction.T

4、his information has not been audited.Forward-Looking StatementsThis presentation contains forward-looking information and statements about Grifols based on current assumptions and forecast made by Grifols management,including pro forma figures,estimates and their underlying assumptions,statements re

5、garding plans,objectives and expectations with respect to capital expenditures,synergies,products and services,and statements regarding future performance.Forward-looking statements are statements that are not historical facts and are generally identified by the words“expected”,“potential”,“estimate

6、s”and similar expressions.Although Grifols believes that the expectations reflected in such forward-looking statements are reasonable,various known and unknown risks,uncertainties and other factors could lead to material differences between the actual future results,financial situation,development o

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1. **2025财年业绩**:营收75.24亿欧元(+7.0% cc),调整后EBITDA 18.25亿欧元(+5.6% cc),毛利率38.0%,自由现金流4.68亿欧元(+2.01亿欧元),杠杆率4.2x。 2. **生物制药业务驱动**:营收64.87亿欧元(+8.4% cc),免疫球蛋白(Ig)增长抵消美国《通胀削减法案》(IRA)1.08亿欧元影响,战略伙伴关系(如中国SRAAS、埃及血浆项目)增强韧性。 3. **战略投资与自给自足**:埃及获EMA认证,2031年建成完整产业链;加拿大与CBS合作推进本土化;美国端到端整合模式巩固全球最大血浆市场地位。 4. **2026年重点**:优先提升EBITDA margins(≥25%),目标自由现金流5-5.75亿欧元,持续去杠杆(2027年杠杆率≤3.5x)。
**Grifols增长动力?** **埃及血浆项目进展?** **2026利润目标?**
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