Company: GIFLF
Filing Date: 2025-04-11
Form Type: 20-F
Source: 0001104659-25-034245
Chunk: 159

Company: Grifols SA
Filing Date: 2025-04-11
Form: 20-F
Item: Item 5
Chunk 159
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,756)                (16,386)             (43,370)              264.7   %
Finance result                                                                                 (748,019)               (574,374)            (173,645)               30.2   %
Profit/(loss) of equity accounted investees                                                            —                   (922)   922                                 —   ​
Profit before income tax                                                                         443,996                 207,021              236,975              114.5   %
Income tax expense                                                                             (231,190)                (43,349)            (187,841)              433.3   %
Consolidated net profit                                                                          212,806                 163,672               49,134               30.0   %

(1)   The financial information as of and for the year ended December 31, 2023 has been restated to apply changes in criteria and correct errors. See “Factors Affecting Our Financial Condition and Results of Operations—Changes in accounting criteria and correction of errors” above and 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.
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Net Revenue
Net revenue is calculated by subtracting certain chargebacks, cash discounts, volume rebates, Medicare and Medicaid discounts and other discounts from our gross revenue, which is mainly generated by the sale of goods. See Notes 5 and 24 to our audited consolidated financial statements included in this annual report on Form 20-F.
Our business units reported a record performance in 2024 in terms of total consolidated net revenue. Our net revenue increased by 9.4% (10.3% at constant currency), or €620.4 million, in 2024, reaching €7.2 billion compared to €6.6 billion in 2023. These results were mainly attributed to reduction in the cost per liter of plasma collected, strong demand for our key proteins, positive volume growth and product mix across global markets, with the increase in total net revenue being largely due to the performance of our Biopharma business unit, as explained below.

103

The following table reflects a summary of net revenue by each of our business units for 2024, as compared to 2023:

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