Grifols tightens its belt

THE Grifols family, which founded the multinational pharmaceuticals firms of the same name, saw their income dwindle by 97 per cent last year.

In 2021, the family­owned firm Deria, the laboratory’s principal shareholder, received €16.4 million in dividends.

In contrast, the company announced that there would be no shareout for 2022, owing to Grifols high level of indebtedness after buying out German rival, Biotest, increasing its net debt to €9.42 billion by June 2023.

Deria, which has left 25 million shares as collateral with Banco Santander, received €454,784 in 2022, mainly from interest and providing services, but reported losses of €139, 177.

The company also revealed that some board members received €238,333 “in remunerations.”