Grifols restates financials for first half of 2024 due to incorrect accounting

Grifols reports that, due to an incorrect accounting treatment, the comparative figures presented in the Condensed Consolidated Interim Financial Statements for the first half of 2024 have been restated in accordance with paragraph 42 of International Accounting Standard 8. “With the aim of correctly presenting these losses in the respective income statements for each period, the comparative figures for the first half of 2023 have been restated in the Condensed Consolidated Interim Financial Statements for the first half of 2024, which has resulted in a reduction of the net income and EBITDA, reducing them by EUR 14 million and EUR 12 million, respectively. Additionally, the comparative figures for the income statement for financial years 2023 and 2022, which will be restated in the consolidated annual accounts for 2024, reflecting a reduction in net income and EBITDA of EUR 17 million and EUR 13 million for financial year 2023, and EUR 23 million and EUR 20 million for financial year 2022,” stated Grifols, which made an incorrect application of the accounting treatment of the non-controlling interest in an associate, resulting in a correction to the equity-method investment in Shanghai RAAS Blood Products Co. Limited.