Pro-Palestinian encampment at Dalhousie University - May 13, 2024 | SaltWire #news #halifax #protestBARCELONA - Spanish drugmaker Grifols swung to a first-quarter net profit of 21 million euros from a year-ago loss, and said on Tuesday it was on track to meet its 2024 outlook, including cutting debt.
Revenue reached 1.6 billion euros in the first quarter, while adjusted EBITDA rose to 350 million euros, representing a 21.6% margin, up from 19.3% a year ago. Improving free cash flow and reducing debt are Grifols' top priorities, Chief Executive Nacho Abia told analysts.Since early January, short-sheller fund Gotham City Research has released several reports accusing Grifols of overstating earnings and understating debt. Grifols' market value has shed several billion euros since then.