Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Grifols Falls Most Since IPO as Earnings Miss Estimates

July 31 (Bloomberg) -- Grifols SA, Europe’s largest maker of blood-plasma products, plunged in Madrid trading after profit missed analysts’ estimates.

Grifols sank 14 percent to close at 33.82 euros, giving the company a market value of 10.9 billion euros ($14.6 billion). The single-day drop was the biggest ever for the company, which sold shares in an initial public offering in 2006.

Second-quarter sales of 812.8 million euros were less than the average analyst estimate of 826.9 million euros, according to data compiled by Bloomberg, and net income of 103.9 million euros was lower than the average prediction of 123.4 million euros.

Grifols, based in Barcelona, has been expanding through acquisitions. The company bought Talecris Biotherapeutics Holdings Corp. in 2011 for about $2.4 billion, and this year it purchased a Novartis AG blood-transfusion diagnostics unit for about $1.68 billion.

The quarterly results were “very weak,” analysts at UBS AG said in a report today. “Except for the newly acquired division of Novartis, the rest of the areas were weaker than expected.”

Grifols had costs related to the acquisition from Novartis, said Nuria Pascual, the company’s investor relations officer and director of finance.

To contact the reporter on this story: Phil Serafino in Paris at pserafino@bloomberg.net

To contact the editors responsible for this story: Phil Serafino at pserafino@bloomberg.net Andrew Pollack

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.