Company: GIFLF
Filing Date: 2025-05-12
Form Type: 6-K
Source: 0001104659-25-047168
Chunk: 1

Company: Grifols SA
Filing Date: 2025-05-12
Form: 6-K
Chunk 1
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25 and in the U.S. in H1’26, following 
 FDA approval.                                                                     |

| · | Reaffirms               
 its guidance6 for 2025. |

Barcelona, Spain – May 12, 2025 – Grifols (MCE:GRF, MCE:GRF.P, NASDAQ:GRFS), a global healthcare company and leading manufacturer of plasma-derived medicines,
today confirmed that its reported first quarter 2025 financial results are ahead of plan, contributing to record results across key financial
metrics for the last twelve months (LTM). Grifols remains focused on the continued execution of its strategic plan and reaffirms its guidance
for FY2025.

Due to the impact of the Inflation
Reduction Act on its financial results, Grifols expects to share greater detail in 2025 giving investors and analysts further visibility
on its actual performance and underlying momentum. As a result, for 2025, Grifols expects to show both reported figures and LFL
figures to make them comparable to previous quarters. LFL figures adjust for the impact on Biopharma performance of both the Inflation
Reduction Act Medicare Part D Redesign (IRA) and the Fee-for-Services reclassification in Q4’24.

In the first quarter of 2025, total
revenue grew to EUR 1,786 million, a year-over-year increase of 7.4% cc and 10.0% cc LFL. Biopharma revenue reached EUR 1,521 million
versus the prior year quarter, up 6.6% cc and 9.6% cc LFL. The segment’s growth was largely driven by an increase in immunoglobulin
(IG) franchise revenue of 13.2% cc and 17.5% cc LFL, with strong momentum across both IVIG (+ 13.5% cc LFL) and SCIG (XEMBIFY)
(+98.9% cc LFL).

1Operating or constant currency (cc) excludes changes rate variations reported in the period.

2Like For Like (LFL) excludes the impact of IRA (EUR 28 million) and Fee-For-Service / GPO reclassification (EUR 15 million). See Annex for reconciliations.

3Free Cash Flow includes cash from operating activities + cash flow from investing activities, both as per International Financial Reporting Standards (IFRS), and excludes lease payments.

4Defined as per the Credit Agreement