Company: GIFLF
Filing Date: 2025-04-11
Form Type: 20-F
Source: 0001104659-25-034245
Chunk: 247

Company: Grifols SA
Filing Date: 2025-04-11
Form: 20-F
Item: Item 7
Chunk 247
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 our subsidiary GWWO, Biotest Pharmaceuticals Corporation (“BPCorp”), which is a subsidiary of BPC Plasma Inc, Haema GmbH and Grifols, S.A. entered into the Plasma Supply Agreement, whereby GWWO agreed to acquire all of the plasma collected from approximately 60 plasma collection centers owned by BPCorp and Haema GmbH. Grifols, S.A. guarantees all GWWO obligations under the Plasma Supply Agreement, which, on January 1, 2019, was extended for a 30-year period. 
The price GWWO pays for the plasma acquired under the Plasma Supply Agreement is established based on the full cost of production, plus a fixed margin, and there is exclusivity of sale. Subject to certain conditions and procedures, the agreement also grants to BPCorp and Haema GmbH the right to receive payments from GWWO in advance for plasma to be delivered in the future. As of the date of this annual report, GWWO had a balance of €11 million in advance payments for future delivery of plasma under the Plasma Supply Agreement. During 2024, the highest balance of advance payments amounted to €46 million.
Cash-Pooling Financing Agreement between BPC Plasma Inc, Haema GmbH and Scranton Plasma B.V.
In February 2019, Haema GmbH and BPC Plasma Inc entered into a Cash-Pooling Financing Agreement with Scranton Plasma B.V. with a maturity date in 2027. Under this agreement, Haema GmbH and BPC Plasma Inc transfer funds from time to time to their parent company, Scranton Plasma B.V. which advances may be set off by Scranton Plasma B.V. against upstream dividends distributed from time to time by Haema GmbH and BPC Plasma Inc. As of December 31, 2024 and 2023, the balances of the advances under this cash-pooling agreement were €82.3 million and €101.2 million, respectively. In 2024 and 2023, BPC Plasma Inc. distributed dividends without cash outflow to Scranton Plasma B.V. in the amounts of €39.5 million and €266.4 million, respectively, corresponding to the BPC Plasma Inc results of the four immediately preceding fiscal years. During 2024, the highest balance under this cash-pooling agreement amounted to €136 million.
Acquisition of Haema Plasma Kft.
On October 31, 2024, through our subsidiary GWWO, we acquired