15 slides from Grifols, S.a. Class A's earnings presentation, Feb 29, 2016
Slide 1: Operational and Financial Highlights - 2015
Operational and Financial Highlights - 2015 Grifols’ revenues grow by 17.3% to Euros 3,935 million, and net profit grows by 13.2% reaching Euros 532 million Revenues of the Bioscience division exceed Euros 3,000 million for the first time, with +18.8% (+6.8% cc*) growth in the fourth quarter Recurri
Slide 2: Operational and Financial Highlights - 2015
Operational and Financial Highlights - 2015 3 Solid results: EBITDA reaches Euros 1,163 million (+11.0%), with an EBITDA margin of 29.5%. EBIT exceeds Euros 970 million (+13.1%) representing 24.7% of revenues The strong cash generation continues: Euros 1,143 million of cash balance at December 31, 2
Slide 3: Key financial figures - 2015
Key financial figures - 2015 4 In millions of euros except % and EPS 2015 2014 % Var NET REVENUE (NR) 3,934.6 3,355.4 17.3% GROSS MARGIN 49.1% 50.6% R&D 224.2 180.8 24.0% % NR 5.7% 5.4% EBITDA 1,162.6 1,047.2 11.0% % NR 29.5% 31.2% EBIT 970.4 857.7 13.1% % NR 24.7% 25.6% GROUP PROFIT 532.1 470.3 13.
Slide 4: Net revenue by division - 2015
Net revenue by division - 2015 5 In thousands of euros 2015 % of Net Revenues 2014 % of Net Revenues % Var % Var cc* BIOSCIENCE 3,032,111 77.1% 2,513,510 74.9% 20.6% 4.8% DIAGNOSTIC 691,452 17.6% 620,022 18.5% 11.5% (0.9%) HOSPITAL 96,245 2.4% 94,800 2.8% 1.5% (0.2%) SUBTOTAL 3,819,808 97.1% 3,228,3
Slide 5: Net revenue by region - 2015
Net revenue by region - 2015 6 In thousands of euros 2015 % of Net Revenues 2014 % of Net Revenues % Var % Var cc* US + CANADA 2,505,791 63.7% 2,042,700 60.9% 22.7% 2.8% EU 662,917 16.8% 662,802 19.8% 0.0% (1.7%) ROW 651,100 16.6% 522,830 15.5% 24.5% 12.8% SUBTOTAL 3,819,808 97.1% 3,228,332 96.2% 18
Slide 6: Profit & Loss account - 2015
Profit & Loss account - 2015 7 In thousands of euros 2015 2014 % Var NET REVENUE (NR) 3,934,563 3,355,384 17.3% COST OF SALES (2,003,565) (1,656,170) 21.0% GROSS PROFIT 1,930,998 1,699,214 13.6% % NR 49.1% 50.6% R&D (224,193) (180,753) 24.0% SG&A (736,435) (660,772) 11.5% OPERATING EXPENSES (960,628
Slide 7: Balance sheet (Assets) - December 31, 2015
Balance sheet (Assets) - December 31, 2015 8 2015 2014 NON-CURRENT ASSETS 6,512,243 5,536,627 GOODWILL AND OTHER INTANGIBLE ASSETS 4,693,931 4,243,093 PROPERTY PLANT & EQUIPMENT 1,644,402 1,147,782 INVESTMENTS IN EQUITY ACCOUNTED INVESTEES 76,728 54,296 NON-CURRENT FINANCIAL ASSETS 30,388 9,011 OTHE
Slide 8: Balance sheet (Equity & Liabilities) - December 31, 2015
Balance sheet (Equity & Liabilities) - December 31, 2015 9 2015 2014 EQUITY 3,301,390 2,662,888 CAPITAL 119,604 119,604 SHARE PREMIUM 910,728 910,728 RESERVES 1,371,061 1,088,337 TREASURY STOCK (58,575) (69,252) INTERIM DIVIDENDS (119,615) (85,944) CURRENT YEAR EARNINGS 532,145 470,253 OTHER COMPREH
Slide 9: Cash flow - 2015
Cash flow - 2015 10 In thousands of euros 2015 2014 GROUP PROFIT 532,145 470,253 DEPRECIATION AND AMORTIZATION 189,755 189,472 NET PROVISIONS (564) (21,388) OTHER ADJUSTMENTS AND OTHER CHANGES IN WORKING CAPITAL 43,771 296,368 CHANGES IN INVENTORIES (120,641) (97,023) CHANGES IN TRADE RECEIVABLES 16
Slide 10: Group profit reconciliation - 2015
Group profit reconciliation - 2015 11 In millions of euros 2015 2014 % Var GROUP NET PROFIT 532.1 470.3 13.2% % NR 13.5% 14.0% Non-recurring costs and associated with recent acquisitions - 27.0 Amortization of deferred financial expenses 64.1 58.2 10.1% Amortization of intangible assets acquired in
Slide 11: Net revenue by division - 4Q 2015
Net revenue by division - 4Q 2015 12 In thousands of euros 4Q 2015 % of Net Revenues 4Q 2014 % of Net Revenues % Var % Var cc* BIOSCIENCE 819,856 77.1% 690,204 75.3% 18.8% 6.8% DIAGNOSTIC 181,946 17.1% 167,216 18.2% 8.8% (0.2%) HOSPITAL 24,242 2.3% 23,825 2.6% 1.8% 2.1% SUBTOTAL 1,026,044 96.5% 881,
Slide 12: Net revenue by region - 4Q 2015
Net revenue by region - 4Q 2015 13 In thousands of euros 4Q 2015 % of Net Revenues 4Q 2014 % of Net Revenues % Var % Var cc* US + CANADA 678,017 63.8% 558,870 60.9% 21.3% 5.8% EU 166,662 15.7% 175,155 19.1% (4.8%) (5.4%) ROW 181,365 17.0% 147,220 16.1% 23.2% 16.7% SUBTOTAL 1,026,044 96.5% 881,245 96
Slide 13: Share Performance - December 31, 2015
Share Performance - December 31, 2015 GRIFOLS’ DAILY SHARE PRICE, CLASS A & CLASS B vs IBEX 35 BASE 100, from December 31, 2014 to December 31, 2015 Source: Infobolsa 14 Class B:+6.7% Class A: +28.7% IBEX-35: -7.1% 80 90 100 110 120 130 140 dic.-14 ene.-15 feb.-15 mar.-15 abr.-15 may.-15 jun.-15 jul
Slide 14: Forward-looking statements disclaimer
15 The facts and figures contained in this report which do not refer to historical data are “projections and forward looking statements”. The words and expressions like “believe”, “hope”, “anticipate”, “predict”, “expect”, “intend”, “should”, “try to achieve”, “estimate”, “future” and similar expres
Slide 15: Signatures
Table of Contents SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereto duly authorized. Grifols, S.A. By: /s/ David I. Bell Name: David I. Bell Title: Authorized Signatory Dat