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Press Release

Sales of Olainfarm in October Grow by 22%


Posted on: 15 Nov 16

Olaine, 2016-11-15 15:00 CET (GLOBE NEWSWIRE) --  

October 2016, consolidated sales Sales, thsnd. EUR Changes to October 2015 Share in total sales
Russia 4 210 94% 41%
Latvia 2 340 9% 23%
Ukraine 1 113 -39% 11%
Belarus 547 -24% 5%
The Netherlands 360 NA 4%
Kazakhstan 340 -4% 3%
Uzbekistan 300 220% 3%
Germany 280 NA 3%
Kyrgyzstan 112 71% 1%
Georgia 98 NA 1%
Other 477 -53% 5%
Total 10 177 22% 100%

 

Sales of pharmacy chain of SIA “Latvijas aptieka” during October 2016 were 1.62 million euros, which represents an increase by 1% compared to the same period one year ago. Sixty-four pharmacies were operating during this period.  Sales of Latvian green pharma company Silvanols during October 2016 were 0.53 million euro, which represents an increase by 36% compared to sales this company made during October 2015.  During this period, SIA Silvanols sold its products to eight European countries and with assistance from AS Olainfarm also to Russia, Kazakhstan and Azerbaijan.  Sales of elastic materials producer SIA Tonus Elast during October 2016 were 0.87 million euros, the company was making its sales to 16 countries in three continents.

 

According to preliminary results, in ten months of 2016, consolidated sales of AS Olainfarm reached 88.69 million euros, which represents an increase by 9% compared to the same period of 2015.  The most rapid sales increase during this ten months period was achieved in Uzbekistan, where sales grew by 85%.  Sales to Ukraine grew by 25%, sales to Turkmenistan and the UK each grew by 24%.  The major sales markets during ten months were Russia, Latvia, Ukraine and Belarus.

 

10 months of 2016, consolidated sales Sales, thousand EUR Changes to 10 months of 2015 Share in total sales
Russia 27 199 1% 31%
Latvia 21 540 14% 24%
Ukraine 13 263 25% 15%
Belarus 6 862 16% 8%
Kazakhstan 2 364 12% 3%
Uzbekistan 2 080 85% 2%
The Netherlands 1 999 -60% 2%
UK 1 921 23% 2%
Poland 1 098 3% 1%
Turkmenistan 1 067 23% 1%
Other 9 299 22% 10%
Total 88 692 9% 100%

 

Sales of pharmacy chain of SIA Latvijas aptieka in ten months were 15.5 million euros, which represents an increase by 12% compared to ten months of last year. Sales of SIA Silvanols in ten months were 4.21 million euros, which represents an increase by 28% compared to the same period of 2015, when Silvanols’ sales were 3.3 million euros. SIA Silvanols made its sales to thirteen European countries and with assistance of AS Olainfarm also to Albania, Kosovo, Azerbaijan, Kazakhstan, Belarus, Lithuania and Russia.  Sales of SIA Tonus Elast in five months was 3.53 million euros, its products were sold to 30 countries in four continents.

 

According to preliminary unconsolidated results, sales of AS Olainfarm in October 2016 were 8.02 million euros, which represents an increase by 11% compared to the same period of tha last year.  The biggest sales increase was achieved in Uzbekistan, where it grew by 220%.  Sales to Russia grew by 77%, but sales to Kyrgyzstan grew by 35%.  During October 2016, significant shipments were also made to the Netherlands and Germany.  The biggest sales markets were Russia, Ukraine, Latvia and Belarus.  During October 2016, products of AS Olainfarm were sold to 22 countries of Europe and Asia.

October 2016, unconsolidated sales Sales, thsnd. EUR   Changes to October 2015 Share in total sales
Russia 3 849 77% 48%
Ukraine 1 095 -40% 14%
Latvia 1 088 1% 14%
Belarus 522 -27% 7%
The Netherlands 360 NA 4%
Uzbekistan 300 220% 4%
Germany 279 NA 3%
Kazakhstan 143 -60% 2%
Kyrgyzstan 89 35% 1%
Lithuania 72 3% 1%
Other 221 -75% 3%
Total 8 018 11% 100%

 

According to preliminary unconsolidated results, sales of AS Olainfarm in ten months of 2016 was 74.09 million euros, which represents an increase by 4% compared to ten months of 2015.  The most rapid sales increase during this ten months period was achieved in Uzbekistan, where sales grew by 85%.  Sales to Lithuania grew by 25%, Sales to Ukraine grew by 24%, but sales to Turkmenistan grew by 23%.  The biggest sales markets of AS Olainfarm in ten months of 2016 were Russia, Ukraine, Latvia and Belarus.  In total during this period, products of AS Olainfarm were sold to 41 countries in four continents.  

 

10 months of 2016, unconsolidated sales Sales, thousand EUR Changes to 10 months of 2015 Share in total sales
Russia 26 436 -1% 36%
Ukraine 13 126 24% 18%
Latvia 11 005 7% 15%
Belarus 6 815 16% 9%
Uzbekistan 2 080 85% 3%
The Netherlands 1 999 -60% 3%
Kazakhstan 1 870 -11% 3%
UK 1 815 16% 2%
Turkmenistan 1 067 23% 1%
Lithuania 890 25% 1%
Other 6 989 5% 9%
Total 74 092 4% 100%

 

AGM of AS Olainfarm held on June 7, this year approved operating plan of the Company and the Group, providing that Company’s sales in 2016 will reach 86 million euros, while Group’s sales will reach 100 million euros.  According to these preliminary sales numbers, in ten months of 2016 eighty-six percent of planned annual Company’s sales and 89% percent of planned annual Group’s sales have been attained.

 

 

 JSC Olainfarm is one of the biggest pharmaceutical companies in Latvia with more than 40 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company's operations is to produce reliable and effective top quality products for Latvia and the rest of the world. Products made by the Group are being exported to more than 35 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

         Information prepared by:
         
         Salvis Lapins
         JSC Olainfarm
         Member of the Management Board
         Rupnicu iela 5, Olaine, Latvia, LV 2114
         Phone: +371 6 7013 717
         Fax: +371 6 7013 777
         E-mail: Salvis.Lapins@olainfarm.lv

GlobeNewswire
globenewswire.com

Last updated on: 16/11/2016

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