Spain's Grifols H1 net 62.2 mln euros

MADRID Aug 27 (Reuters) - Spanish blood plasma company Grifols (GRLS.MC) said on Wednesday its first-half net profit rose by 37 percent to 62.2 million euros ($91.48 million) from a year earlier.

Revenues increased 13.8 percent to 407.2 million euros, driven by solid growth in its core plasma business.

Excluding the exchange rate factor, Grifols said that revenues would have risen 20.8 percent.

But it noted that while the weak dollar hit its sales denominated in euros, it also led to a decline in the cost of buying plasma in the United States.

EBITDA grew 30.4 percent to 118.1 million euros in the first six months, while EBITDA margin on sales rose to 29.0 percent from 25.3 percent.

The improvement in margins was due in part to a an increase in the price and demand of its main hemoderivative products, Grifols said.

A Reuters poll of six analysts forecast average net profit in the first six months of 64.1 million euros, on revenue of 405.9 million euros.

At 12:06 GMT, Grifols was down 0.78 percent at 20.37, after gaining over 3 percent yesterday. Spain's blue chip IBEX-35 index was down 0.3 percent.

(Reporting by Judy MacInnes; Editing by xxx)