Grifols Drops 35% as Management Flags Risk of Zero Cash Flow
- Grifols CFO says it expects bcash flow to break even in 2024
- Firm says due diligence for Chinese sale completed today
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Grifols SA shares fell the most ever on Thursday after management said the Spanish plasma maker may not generate cash this year, dealing a heavier blow to the stock than last month’s attack by a short seller.
The 35% drop was the biggest since Grifols listed in 2006 and followed comments by Chief Financial Officer Alfredo Arroyo on an afternoon call with investors to discuss fourth-quarter earnings, in which he said free cash flow this year could be zero.