Europa Press Madrid

Madrid

Updated Friday, March 22, 2024-09:29

Grifols

shares

soared almost 8% on the stock market this Friday around 9:10 a.m. following the report from the

National Securities Market Commission (CNMV)

released this Thursday. Thus, the blood products company led the rise of the

Ibex 35

with a rise of 7.86%, until its shares were exchanged at a unit price of 9.084 euros.

In the document, the CNMV has found "relevant deficiencies" in Grifols' annual accounts, specifically in the detail and accuracy of the breakdowns and explanatory notes that support the figures, although the supervisor has pointed out that it has not identified "

significant errors"

in the results, so it has not currently identified the need to carry out any reformulation of its financial statements.

For its part, Grifols, in response to the CNMV, has assured that it is committed to improving its transparency and expanding the breakdowns of its financial information following the regulator's recommendations.

Regarding these deficiencies, the supervisory body has referred to the financial information in some years of the period analyzed and in the presentation of alternative performance measures (APM), in particular the gross operating result (Ebitda ) and the debt/Ebitda ratio.

To know more

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At the same time, the CNMV has indicated that it has not found evidence that allows it to conclude that the

financial debt

reflected by Grifols does not correspond to reality.

"These deficiencies, although they are complex to assess individually and separately, as a whole must be considered significant, to the extent that they have hindered in some years the ability of investors to adequately understand the financial situation, results and cash flows of the issuer. ", as assessed by the CNMV.

The most relevant deficiency consists, in the supervisor's opinion, in the use of adjusted Ebitda without excluding the results attributable to non-controlled interests when explaining the financial leverage ratio of the

Grifols group

and its financial capacity to satisfy the debt.

As he has pointed out, this is not in accordance with the legal obligations to reflect "useful, relevant, objective and neutral" information. Additionally, Grifols did not publish the information necessary for investors to calculate Ebitda excluding said results attributable to non-controlled interests.