Company: GIFLF
Filing Date: 2025-04-11
Form Type: 20-F
Source: 0001104659-25-034245
Chunk: 149

Company: Grifols SA
Filing Date: 2025-04-11
Form: 20-F
Item: Item 5
Chunk 149
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, S.A. and the non-controlling interest in GDS in our audited consolidated financial statements for the years ended December 31, 2020, 2021, 2022 and 2023 are correctly accounted for. Following this correction, which decreased the carrying value of the investment in Shanghai RAAS, the net gain recorded from the sale of the 20% stake in Shanghai RAAS is accurately accounted for in the 2024 financial statements.
Consolidated Statement of Comprehensive Income
As a result of imprecise wording in the sign of the subheading “Equity accounted investees / Translation differences” of the Consolidated Statement of Comprehensive Income for the years ended December 31, 2023 and 2022, in the consolidated financial statements as of and for the year ended December 31, 2024, the sign of this caption has been modified, with the counterpart item being the subheading “Translation differences,” of the consolidated Statement of Comprehensive Income. As a result of this imprecision, this subheading has been modified for the amounts of €124 million and €61 million as of December 31, 2023 and 2022, respectively, against the subheading “Participation in other comprehensive income of the investments accounted for by the equity method - Translation differences.” This imprecise wording has not had any impact on the total heading “Translation differences” considered globally in the Consolidated Balance Sheet.
For more details on the changes in accounting criteria and correction of errors described above and how these changes affected our results, see Notes 2(d) and 10 to our consolidated financial statements as of and for the year ended December 31, 2024 included in this annual report on Form 20-F.
Short Seller Reports
On January 9, February 20 and March 6, 2024, a short seller firm issued reports questioning our accounting practices, corporate disclosures and commitment to transparency in an apparent attempt to drive down the market price of our shares. These reports contained numerous false and misleading statements. Nevertheless, the price of our Class A and Class B shares declined significantly and has continued to trade at dramatically lower prices than before the reports. The market for our shares has been highly volatile since the publication of the reports. On January 8, 2024, the prices of our Class A and Class B shares closed at €14.24 and €10.11, respectively. On March 7, 2024, the day following the publication of the third report by the