| Q3 2023 Results - 27 -
Cash Flow | YTD 2023
Annex
Note: We have made adjustments to reflect the underlying performance of Grifols' operations and for comparability purposes. These adjustments are caused due to a unique event and are not expected to be repeated periodically. In 2023, it includes: (i) restructuring
costs as part of the Operational Improvement Plan, which was announced in February 2023 and accrued a one-time restructuring charge of about EUR 140 million; (ii) M&A transaction costs are mainly related to the transaction in China announced in June 2023; (iii)
a one-off Diagnostic Division commercial true-up.
YTD 2022
Grifols incl. Biotest
In thousands of euros Reported Restructuring costs Transaction costs Diagnostic true-up
commercial Total one-offs Reported excl.
One-offs Reported Total one-offs Reported excl.
One-offs Reported Reported Reported excl.
One-offs
Reported Group Profit 48,117 103,960 21,302 (9,432) 115,830 163,947 (44,795) 3,322 115,830 119,152 188,209 -98% -37%
Depreciation and Amortization 283,887 (558) - - (558) 283,329 49,501 333,388 (558) 332,830 291,069 15% 14%
Net Provisions 97,326 (17,929) - - (17,929) 79,397 (2,216) 95,110 (17,929) 77,181 (1,076) -8939% -7273%
Other Adjustments and Other Changes in Working Capital 50,184 35,634 7,101 (9,398) 33,337 83,521 (19,803) 30,381 33,337 63,718 (42,225) -172% -251%
Change in Operating Working Capital (328,006) (18,610) (7,812) - (26,422) (354,428) (82,298) (410,304) (26,422) (436,726) (514,324) -20% -15%
Changes in Inventories (245,507) - - - - (245,507) (93,160) (338,667) - (338,667) (474,970) -29% -29%
Change in Trade Receivables (45,312) - - - - (45,312) (3,246) (48,558) - (48,558) (26,120) 86% 86%
Change in Trade Payables (37,187) (18,610) (7,812) - (26,422) (63,609) 14,108 (23,079) (26,422) (49,501) (13,234) 74% 274%
Net Cash Flow From Operating Activities 151,508 102,497 20,591 (18,830) 104,258 255,766 (99,611) 51,897 104,258 156,155 (78,347) -166% -299%
Business Combinations and Investments in Group Companies (48,705) - - - - (48,705) - (48,705) - (48,705) (1,533,264) -97% -97%
CAPEX (110,009) - - - - (110,009) (20,660) (130,669) - (130,669) (203,999) -36% -36%
R&D/Other Intangible Assets (47,951) - - - - (47,951) (13,691) (61,642) - (61,642) (27,697) 123% 123%
Other Cash Inflow / (Outflow) (27,507) - - - - (27,507) 12,767 (14,740) - (14,740) (69,853) -79% -79%
Net Cash Flow From Investing Activities (234,172) - - - - (234,172) (21,584) (255,756) - (255,756) (1,834,813) -86% -86%
Free Cash Flow (82,664) 102,497 20,591 (18,830) 104,258 21,594 (121,195) (203,859) 104,258 (99,601) (1,913,160) -89% -95%
Issue / /Repayment) of Debt 130,545 - - - - 130,545 5,655 136,200 - 136,200 - - -
Capital Grants 1,401 - - - - 1,401 - 1,401 - 1,401 (398,842) -100% -100%
Dividends (Paid) / Received - - - - - - - - - - 10,125
Other Cash Flows From / (Used in) Financing Activities 2,258 - - - - 2,258 (290) 1,968 - 1,968 13,007 -85% -85%
Interco transactions and investments in Group and related companies (70,507) - - - - (70,507) 70,507 - - - - - -
Net Cash Flow From Financing Activities 63,697 - - - - 63,697 75,872 139,569 - 139,569 (375,710) -137% -137%
Total Cash Flow (18,967) 102,497 20,591 (18,830) 104,258 85,291 (45,323) (64,290) 104,258 39,968 (2,288,870) -97% -102%
Cash and Cash Equivalents at the Beginning of the Year 431,337 - - - - 431,337 116,642 547,979 - 547,979 2,675,611 -80% -80%
Effect of Exchange Rate Changes in Cash and Cash Equivalents 504 - - - - 504 3 3 537 - 537 92,840 -99% -99%
Cash and Cash Equivalents at the End of the Period 412,874 102,497 20,591 (18,830) 104,258 517,132 71,352 484,226 104,258 588,484 479,581 1 % 23%
Q3 YTD 2023
Grifols excl. Biotest
Biotest
Grifols incl. Biotest
% vs PY
Grifols incl. Biotest |