Grifols presents its results without auditing and without the signature of one of its directors (2024)

Grifols presented the accounts corresponding to 2023 this Thursday without the audit of KPMG or the signature of Jaime Costos, current member of the board of directors. The company assures that Costos has not signed the annual accounts as he was absent “for personal reasons” at the board of directors meeting held yesterday in Barcelona. The company has thus presented its results in the midst of the controversy generated by the reports of the bearish firm Gotham Research, which questioned both the management and the results of the company. Grifols shares have sunk 34.93% in the worst trading session in its history, placing the share at 7.584 euros, the lowest level since March 2012.

Regarding the lack of audit, the blood products company has assured that “it has received written confirmation from KPMG that it expects to complete its internal procedures and issue its audit opinion before March 8, 2024, ahead of the deadline for current Spanish legislation.”

Grifols obtained a profit of 59.3 million euros in 2023, which represents a decrease of 71.5% compared to the profits of 208.3 million recorded in the previous year, while recording record income of 6,592 million, 8.7% more.

The company has pointed out that Costos has not expressed “any disagreement or opposition with the documentation sent”, as stated in the company’s annual report sent to the National Securities Market Commission (CNMV) and which have been signed by the CEO. and the rest of the council members.

“Under your responsibility that, to the best of your knowledge, the condensed interim consolidated financial statements for the year from January 1, 2023 to December 31, 2023, prepared in accordance with the applicable accounting principles, offer a true and fair view of the assets, the financial situation and the results of the company and the companies included in the consolidation taken as a whole, and that the consolidated interim management report includes a faithful analysis of the required information,” the company states in the annual report.

“The condensed interim consolidated financial statements have been prepared in accordance with IFRS and approved by the board of directors of Grifols,” according to the company.

Thomas Glanzmann will be non-executive chairman in 2025

The executive president and CEO of Grifols, Thomas Glanzmann, has announced that he will become non-executive president of the company from 2025. He said this this Thursday in a conference with analysts, together with the Director of Operations, Víctor Grifols Deu, and the financial director, Alfredo Arroyo, after the presentation of the results for the 2023 financial year.

Glanzmann explained that this change is “in line with good governance practices” and that during this year he will work hand in hand with Nacho Abia, who will assume the position of CEO of the company from April 1. “We will simplify structures and will not carry out any new transactions with related parties,” he said in reference to Scranton and the doubts expressed by Gotham City Research about the relationship between both companies.

The Grifols family leaves management

These have been the latest results of the blood products company with the Grifols family, specifically, Raimon Grifols, Víctor Grifols Deu and Albert Grifols Coma-Cros, with executive positions within its board of directors, in a context marked by the crisis of the firm after the latest offensive launched by Gotham City Research questioning its accounts and its sustainability.

Specifically, the company, which announced changes in its governance at the beginning of the month, has appointed Nacho Abia as CEO, with effect from April 1 and has kept Thomas Glanzmann as executive president, while Raimon Grifols, Víctor Grifols Deu and Albert Grifols Coma-Cros remain as proprietary directors.

Thus, the three members of the family have ended their executive stage within the Catalan company, leaving their functions as corporate director, director of operations and executive director, respectively.

The bearish fund Gotham City Research attacked Grifols for the second time on February 20, posing, on this occasion, a battery of seven questions related to the nature of the relationship between the company and the Scranton family office, linked to the family. Grifols.

Given the changes in Grifols’ governance, Gotham pointed out that its previous complaints, published on January 9, were what motivated changes in its corporate governance, resulting in the separation of family members from the management of the company. blood derivatives.

On February 20, leaders of the Department of Tourism Kien Giang According to statistics in the first two months of 2024, the province welcomed more than 1.95 million tourists, an increase of nearly 80% over the same period last year; Total revenue is estimated at more than 5,230 billion VND, an increase of 88.7% over the same period.

In particular, statistics in February 2024, Kien Giang welcomed more than 1.16 million visitors, estimated total revenue of more than 3,130 billion VND.

xIn Phu Quoc City alone, the first two months of 2024 welcomed more than 1.15 million visitors, of which about 211,000 were international visitors, with an estimated total revenue of more than 4,390 billion VND.

Since the beginning of the year until now, Kien Giang has discovered and fined two travel companies and four tour guides, with a fine of 163 million VND. In addition, we are verifying and clarifying information related to the case of Taiwanese tourists being “abandoned” in Phu Quoc City.

Statistics to date show that the entire Kien Giang province has 950 registered accommodation establishments, with nearly 33,600 rooms, of which 26 establishments have 1-3 stars and 26 have 4-5 stars. Kien Giang currently has 117 licensed travel service businesses, specifically, there are 49 international travel businesses and 57 domestic travel businesses.

According to Mr. Bui Quoc Thai, Director of Kien Giang Department of Tourism, the unit is developing a plan for field surveys of rural tourist destinations. From there, coordinate with relevant departments, branches and localities to remove difficulties, thereby ensuring that rural tourist attractions operate in accordance with the law.

At the same time, continue to implement procedures and processes for implementing the project to build Phu Quoc into a high-quality service and eco-tourism center, sea and island tourism of national and international stature.

In addition, the Department has also planned to cooperate and link tourism development in the Western Mekong Delta in 2024. On the other hand, plan to implement an agreement to cooperate and develop tourism between 13 provinces and cities in the Mekong Delta and Ho Chi Minh City. Ho Chi Minh in 2024.