)
Edge12 Dec 2025
Running on Clouds: The Story of On
The story of how a Swiss runner's pursuit of a new running sensation became On, aiming to be the most premium global sportswear brand worldwide.
Grifols (GRF) investor relations material
Grifols Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary4 Nov, 2025
Executive summary
Year-to-date Q3 2025 revenue reached €5.542 billion, up 7.7% at constant currency, with strong growth in immunoglobulins and Alpha-1 franchises driven by disciplined execution and innovation.
Adjusted EBITDA for YTD Q3 2025 was €1,358 million, up 11.2% at constant currency, with margin expansion to 24.5%.
Free cash flow pre-M&A and pre-dividends improved by €257 million year-over-year, reaching €188 million YTD.
Leverage ratio improved to 4.2x from 5.1x in the prior year, reflecting ongoing deleveraging.
Value Creation Plan and commercial execution remain central, with robust pipeline and innovation initiatives.
Financial highlights
Q3 2025 net revenue was €1,865 million, up 9.1% at constant currency year-over-year.
Q3 adjusted EBITDA was €482 million (25.8% margin); YTD adjusted EBITDA margin was 24.5%, up 60bps year-over-year.
YTD group profit was €304 million, up over 245% versus 2024.
Free cash flow pre-M&A and pre-dividends for Q3 was €203 million.
Gross margin for Q3 was 39.3%, up 50bps year-over-year.
Outlook and guidance
FY 2025 revenue guidance raised to above €7,600 million at guidance FX rates.
Adjusted EBITDA guidance reaffirmed at €1,875–1,925 million.
Free cash flow pre-M&A and pre-dividends guidance improved to €400–425 million.
Full-year FX headwind on adjusted EBITDA estimated at €70 million; impact on group profit, FCF, and leverage expected to be neutral.
Expect robust Q4, but comparison to Q4 2024 will be less favorable due to prior phasing benefits.
Explain Q4 R&D project carrying value assessment
What drives future IG growth to align with market?
Alpha-1: strategy for undiagnosed patients?
Fibrinogen U.S. AFD delay: What's the strategy?
Capital structure: 2030 bonds & GIC deal plans?
Q4 EBITDA outlook: What are phasing impacts?
Partial view of Summaries dataset, powered by Quartr API
Research faster. Power your platform.
Next Grifols earnings date
Q4 202525 Feb, 2026
The essential earnings season companion
The #1 app for qualitative research. Live earnings calls, AI chat, transcripts, and more. All for free.
Live calls and transcripts
Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.
Find what you need faster
Search for any keyword across all transcripts simultaneously.
Easily store key findings
Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Your watchlist. Your dashboard.
Follow the companies that matter to you. Get a personalized feed with real-time updates.
Be the first to know
Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.
Consensus estimates
Access analyst consensus estimates, valuation multiples, and revenue segments splits.
All IR material in one place
The easiest way to stay updated during earnings season.
Global coverage
All events from public companies. Live and recorded.
Just click and listen
No webcast links. No manual registrations.
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
)
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
)
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
I can't remember the last time an app had such a positive impact on my investment process.
)
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
I can't remember the last time an app had such a positive impact on my investment process.
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
)
)
Frequently asked questions
Grifols, S.A. engages in the procurement, manufacture, preparation, and sale of therapeutic products, primarily hemoderivatives. The company operates through the following business segments: Spain and Latin America; the United States and Europe; Asia-Pacific; and Corporate. It offers a range of products, including plasma derivatives in fields such as clinical immunology, infectious diseases, neonatology, hemophilia, and thalassemia; chemotherapeutics for cancer treatment; albumin for surgical oncological indications; and antithrombotic agents for chronic anticoagulation therapy. In addition it offers anti-infective agents used in therapeutic areas such as hematology/oncology, nephrology/diabetes/inflammation/urology-renal transplantation (NRU), and transplantation; bone regeneration products; liquid blood derivatives; diagnostics services; animal blood derivatives; process technology for blood derived products (plasma fractionating); pharmaceutical manufacturing services; artificial blood technologies under development. Further it provides transfusion medicine management services.
Quartr provides global coverage of all investor relation material from public companies.
Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.
Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions.
Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more.
Yes, the Quartr mobile app is free on both iOS and Android.
Yes. Quartr provides global, industry-leading live coverage of company events such as regular earnings calls, capital markets days, M&A announcements, and investor conferences. Live with zero delays. Just click and listen.
Yes, capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Yes. Follow the companies that matter to you. Get a personalized feed with real-time updates, a tailored earnings calendar, and instant alerts when earnings calls go live.
Yes. Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned, regardless of who's talking.
Explore our global coverage