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Press Release

Seven Months Sales of Olainfarm Increase by 7%


Posted on: 15 Aug 17

Olaine, 2017-08-15 15:17 CEST (GLOBE NEWSWIRE) --

July 2017, consolidated sales Sales, thsnd. EUR Changes to July 2016 Share in total sales
Russia 3 862 8% 45%
Latvia 2 096 8% 24%
Belarus 617 9% 7%
Ukraine 483 -68% 6%
Kazakhstan 410 30% 5%
Germany 225 362% 3%
Uzbekistan 117 -58% 1%
France 114 343% 1%
Poland 94 -59% 1%
Moldova 71 2825% 1%
Other 581 -63% 7%
Total 8 670 -14% 100%

 

Sales of pharmacy chain of SIA Latvijas Aptieka in July 0217 reached 1.62 million euros, which represents an increase by 17% compared to the same period of 2016.  Sixty-eight pharmacies were operating during this period. Sales of SIA Silvanols during this period were 0.23 million euros, which represents a reduction by 28% compared to July 2016.  In July 2017 SIA Silvanols made sales to five European countries, including first ever shipments to France. Sales of SIA Tonus Elast during July 2017 were 0.81 million euros, which represents an increase by 56% compared to the same period of last year. Sales were made to 21 countries in two continents.

 

In seven months of 2017, according to preliminary consolidated numbers, sales of AS Olainfarm reached 67.9 million euros, which represents an increase by 7% compared to seven months of 2016.  The biggest sales increase was achieved in Germany, where sales increased by 406%.  Sales to The Netherlands increased by 225%, sales to Kazakhstan increased by 49%, but sales to Italy increased by 43%.  The biggest sales reduction took place in Ukraine, where sales shrunk by 44%.  Major sales markets of Olainfarm Group in seven months of 2017 were Russia, Latvia, Belarus and Ukraine.

 

7 months of 2017, consolidated sales Sales, thsnd. EUR Changes to 7 months of 2016 Share in total sales
Russia 22 302 14% 33%
Latvia 16 545 13% 24%
Belarus 6 216 18% 9%
Ukraine 5 897 -44% 9%
The Netherlands 3 548 225% 5%
Kazakhstan 2 020 49% 3%
Uzbekistan 1 037 -28% 2%
Germany 1 018 406% 1%
Italy 1 002 43% 1%
Poland 970 3% 1%
Other 7 340 -6% 11%
Total 67 895  7% 100%

 

Sales of pharmacy chain of SIA Latvijas Aptieka in seven months of 2017 reached 11.9 million euros, which represents an increase by 10% compared to the same period of 2016.  Sales of SIA Silvanols during this period reached 3 million euros, which represents an increase by 11% compared to seven months of 2016.  SIA Silvanols sold its products to ten European countries and with the help of AS Olainfarm also to Lithuania, Russia, Azerbaijan, Belarus and Armenia.  Sales of SIA Tonus Elast in 7 months reached 4.7 million euros and its products were sold to 35 countries in four continents.

 

According to unconsolidated preliminary results, sales of AS Olainfarm in July 2017 reached 6.8 million euros, which represents a reduction by 20% compared to July of 2016.  The biggest sales increase was achieved in Germany, where sales grew by 385%, but the biggest sales reduction took place in Ukraine, where sales shrunk by 68%.  Sales to Poland shrunk by 60%, but sales to Uzbekistan shrunk by 58%.  Significant shipments during this period have also been made to Mongolia.  Major sales markets of AS Olainfarm during July 2017 were Russia, Latvia, Belarus and Ukraine. During July 2017, products of AS Olainfarm were sold to 24 countries in Europe and Asia.

July 2017, unconsolidated sales Sales, thsnd. EUR Changes to July 2016 Share in total sales
Russia 3 653 9% 54%
Latvia 1 027 17% 15%
Belarus 617 9% 9%
Ukraine 483 -68% 7%
Kazakhstan 252 -2% 4%
Germany 225 385% 3%
Uzbekistan 118 -58% 2%
Poland 93 -60% 1%
Mongolia 50 NA 1%
Lithuania 43 -35% 1%
Other 239 -82% 4%
Total 6 800 -20% 100%

 

According to unconsolidated preliminary results, sales of AS Olainfarm in seven months of 2017 reached 54.8 million euros, which is comparable to seven months of 2016.  The biggest sales increases during this period were achieved in Germany, where sales grew by 408% and The Netherlands, where sales grew by 225%.  The biggest sales reduction in seven months of 2017 took place in Ukraine, where sales shrunk by 44%. Major sales markets of AS Olainfarm during this period were Russia, Latvia Belarus and Ukraine.  In total, in 7 months of 2017, products of AS Olainfarm were sold to 43 countries in five continents.  

 

7 months of 2017, unconsolidated sales Sales, thsnd. EUR Changes to 7 months of 2016 Share in total sales
Russia 20 424 6% 37%
Latvia 8 164 7% 15%
Belarus 6 151 17% 11%
Ukraine 5 805 -44% 11%
The Netherlands 3 548 225% 6%
Kazakhstan 1 454 20% 3%
Uzbekistan 1 037 -28% 2%
Germany 1 008 408% 2%
Italy 952 36% 2%
Turkmenistan 829 -22% 2%
Other 5 428 -16% 10%
Total 54 800 0% 100%

 

General meeting of shareholders of AS Olainfarm held on June 1, 2017 approved operating plan of the company, providing that unconsolidated sales of the company in 2017 will reach 96 million euros, while consolidated sales of the company will reach 127 million euros.  According to these preliminary sales numbers, in seven months of 2017 the company has met 57% of annual target for unconsolidated sales and 53% of annual target for consolidated sales.

 

 

 

 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: 16/08/2017

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