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Investing.com - Shares in Grifols (BME:GRLS) were higher in mid-morning trading in Europe after the Spanish biopharma firm delivered solid second-quarter results despite large foreign exchange headwinds.
The Barcelona-based firm also reiterated its annual guidance, adding that it is seeing "strong underlying momentum across its core businesses" heading into the second half of the 2025 calendar year.
"While the recent depreciation of the U.S. dollar presents a headwind to reported Revenue and EBITDA in the second half, the impact on Group Profit, leverage and Free Cash Flow pre-M&A is expected to be broadly neutral," Grifols said in a statement.
"The Group expects to largely mitigate this headwind through a combination of the benefit of underlying business momentum and targeted cost levers."
Revenues in the second quarter rose by 4% compared to a year earlier to 1.89 billion euros, while adjusted net income surged by 27% to 133 million euros. Both metrics were above consensus expectations, according to data from BofA Securities.
Grifols showed "[v]ery strong underlying biopharma performance, with solid market demand and Grifols outperforming [the] market," the BofA analysts led by Charlie Haywood said in a note.