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UPDATE 1-Spain's Grifols Q1 net profit falls 30% on plasma shortage

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BARCELONA, May 4 (Reuters) - Spanish pharmaceutical company Grifols on Tuesday reported a 30% fall in its first-quarter net profit to 129 million euros ($155 million) hurt by a shortage of plasma due to the pandemic.

The maker of blood plasma-based products had trouble collecting blood because of mobility restrictions.

Its earnings before interest, tax, depreciation and amortisation (EBITDA) fell 15% to 297 million euros, topping the 280 million expected by analysts, Refinitiv Eikon data showed.

Net revenue fell 8.4% to 1.1 billion euros “due to lower level of plasma obtained because of COVID-19,” it said in a statement.

Grifols said helping cushion the impact of the pandemic were the contribution of new products and its efforts to increase plasma donations through the acquisition of new plasma collection centres.

The company’s debt rose by 400 million euros in the quarter to 8.9 billion euros but it said it had the resources and liquidity needed to fulfil all its obligations in the short and mid-term.

$1 = 0.8311 euros Reporting by Joan Faus, editing by Inti Landauro and Jason Neely

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