Grifols presents the results without an audit and without the signature of one of the directors

Grifols presented the corresponding accounts for 2023 this Thursday without the signature of the KPMG audit or the current member of the board of directors, Jaime Kostos. The company claims that Costos did not sign the annual accounts because he was “for personal reasons” absent from yesterday’s board of directors meeting in Barcelona. The company thus presented its results in the midst of a controversy arising from reports by the bearish firm Gotham Research that questioned both management and the company’s results.

Regarding the lack of an audit, the blood products company assured that “it has received written confirmation from KPMG that it expects to complete internal procedures and issue an audit report by March 8, 2024, the deadline of the applicable Spanish law.”

Grifols made a profit of 59.3 million euros in 2023, which represents a decrease of 71.5% compared to the profit of 208.3 million recorded in the previous year, while the record revenue was recorded at 6.592 million, an increase of 8.7%.

The company noted that Kostos did not express “any disagreement or objection to the documents sent”, as stated in the company’s annual report, sent to the National Securities Market Commission (CNMV) and signed by the CEO and the rest. Council members.

“On your own responsibility, to the best of your knowledge, the condensed interim consolidated financial statements for the period from January 1, 2023 to December 31, 2023, prepared in accordance with applicable accounting principles, give a true and fair view. assets, financial position and results of the company and the companies included in the combination taken as a whole and that the consolidated interim management report includes a faithful analysis of the necessary information,” the company’s annual report said.

“Condensed interim consolidated financial statements have been prepared in accordance with IFRS and have been approved by the Grifols Board of Directors,” the company said.

The Grifol family leaves the management

These were the latest results of the blood products company with the Grifols family, specifically Raimon Grifols, Victor Grifols Deu and Albert Grifols Coma-Cross, in executive positions on its board of directors, in a context marked by the firm’s crisis. After the latest attack launched by Gotham City Research, which calls into question its reports and its sustainability.

Specifically, the company, which announced management changes earlier this month, appointed Nacho Abia as CEO effective April 1, leaving Thomas Glanzmann as executive president and Raymond Grifols, Victor Grifols Dew and Albert Grifols Koma. -Cross remain as directors of the property.

Thus, three members of the family have completed the executive stage in the Catalan company and left the functions of corporate director, director of operations and CEO.

Defense fund Gotham City Research attacked Grifols for a second time on Feb. 20, asking a battery of seven questions related to the nature of the company’s relationship with the family’s Scranton family office.

In light of the changes in Grifols’ management, Gotham noted that his previous complaints, published on January 9, were what motivated the change in corporate governance, which led to the separation of family members from the management of the company.

Source: El Diario

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