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Press Release

Sales of Olainfarm in February Increase by 33%


Posted on: 19 Mar 18

March 19, 2018

Sales of Olainfarm in February Increase by 33%

Preliminary consolidated sales results of JSC Olainfarm for February 2018 show that sales have reached 10.69 million euros, which represents an increase by 33% compared to February 2017. The biggest sales increase was achieved in Japan, where sales grew by 6430%. Sales to Lithuania grew by 161%, sales to Georgia grew by 155%, sales to Kazakhstan grew by 118%, but sales to Belarus increased by 92%. During February 2018, the group also made significant shipments to Uzbekistan and Tajikistan. Major sales markets of Olainfarm group in February 2018 were Latvia, Russia, Belarus and Ukraine.  Products of the group were sold to 35 countries.

February 2018, consolidated salesSales, thsnd. EURChanges to February 2017 Share in total sales
Latvia2 773 11%26%
Russia2 753 5%26%
Belarus1 66192%16%
Ukraine1 024 -3%10%
Japan315 6430%3%
Kazakhstan300 118%3%
Lithuania229161%2%
Uzbekistan222NA2%
Georgia165155%2%
Tajikistan145NA1%
Other 1 09962%10%
Total10 686 33%100%

Sales numbers of daughter companies of JSC Olainfarm that provide significant impact on consolidated results show that sales of Latvijas aptieka in February 2018 reached 1.68 million euros, which is comparable to the sales volume demonstrated in February 2017. Sixty-eight pharmacies were operating during February. Sales of Silvanols during this period were 0.59 million euros, which represents an increase by 4%. Combined sales of Tonus Elast and its Russian based distributor Elast Medikl reached 0.65 million euros. Combined sales of medical companies Klīnika DiaMed and OlainMed reached 0.2 million euros, while sales of Belarus based company NPK Biotest also reached 0.2 million euros.

 February 2018
Sales markets of Olainfarm28
Sales markets of the Group 35
Number of pharmacies of Latvijas aptieka68
Sales of Latvijas aptieka€ 1 675 594
Combined sales of OlainMed and Klīnika DiaMed€ 199 000
Sales of NPK Biotest€ 199 407
Combined sales of Tonus Elast and Elast Medikl€ 647 265
Sales of Silvanols € 585 302

According to unconsolidated preliminary results, sales of JSC Olainfarm in February 2018 reached 8.62 million euros, which represents an increase by 44% compared to the same period of 2017. Biggest sales increase was achieved in Japan, where sales grew by 6430%.  Sales to Kazakhstan grew by 257%, but sales to Lithuania grew by 240%. During February 2018, JSC Olainfarm also made significant shipments to Uzbekistan and Tajikistan. Major sales markets during February were Russia, Latvia, Belarus and Ukraine. In total products of JSC Olainfarm were sold to 28 countries.

February 2018, unconsolidated salesSales, thsnd., EURChanges to February 2017Share in total sales
Russia2 459 8%29%
Latvia1 52626%18%
Belarus1 427 67%17%
Ukraine1 024 -3%12%
Japan315 6430%4%
Kazakhstan231257%3%
Lithuania225 240%3%
Uzbekistan222 NA3%
Tajikistan145NA2%
Germany143 67%2%
Other899149%10%
Total8 616 44%100%

During the first two months of 2018, the consolidated sales of the group reached 19.88 million euros, which represents an increase by 16% compared to consolidated sales of two months of 2017. The biggest sales increases were achieved in Uzbekistan, where sales grew by 757%, in Japan sales grew by 332%, and in Kazakhstan, where sales grew by 124%. The major sales markets of JSC Olainfarm in two months of 2018 were Latvia, Russia, Belarus and Ukraine, products were sold in 32 countries.

2 months of 2018, consolidated salesSales, thsnd. EURChanges to 2 months of 2017Share in total sales
Latvia5 695 15%29%
Russia4 469 -10%22%
Belarus3 35735%17%
Ukraine2 132 56%11%
Kazakhstan549 124%3%
Uzbekistan393 757%2%
Lithuania374 47%2%
Germany353 23%2%
Japan315 332%2%
Tajikistan208NA1%
Other 2 032 -17%10%
Total19 877 16%100%

During the first two months of 2018, sales of Latvijas aptieka reached 3.7 million euros, which represents an increase by 9% compared to sales during the same period of 2017. Sales of Silvanols during two months were 1 million euros, which represents a reduction by 6% compared to two months of 2017. Combined sales of Tonus Elast and its Russian based distributor Elast Medikl in two months of 2018 reached 1.16 million euros. Combined sales of medical companies Klīnika DiaMed and OlainMed in two months of 2018 reached 0.4 million euros, while sales of Belarus based company NPK Biotest also reached 0.4 million euros.

 2 months of 2018
Sales markets of Olainfarm32
Sales markets of the Group 39
Sales of Latvijas aptieka€ 3 702 114
Combined sales of OlainMed and Klīnika DiaMed€ 396 000
Sales of NPK Biotest€ 395 435
Combined sales of Tonus Elast and Elast Medikl€ 1 162 517
Sales of Silvanols € 1 003 518

According to unconsolidated preliminary results, sales of JSC Olainfarm in two months of 2018 were 15.72 million euros, which represents an increase by 15% compared to the same period of 2017. The biggest sales increases were achieved in Uzbekistan, where sales grew by 757%, in Japan, where sales grew by 332%, and in Kazakhstan, where sales grew by 211%. Biggest sales markets of JSC Olainfarm in the first two months of 2018 were Russia, Latvia, Belarus and Ukraine. In total in two months of 2018, JSC Olainfarm sold its products to 32 countries.

2 months of 2018, unconsolidated salesSales, thsnd. EURChanges to 2 months of 2017Share in total sales
Russia3 946-15%25%
Latvia3 024 21%19%
Belarus2 92719%19%
Ukraine2 13256%14%
Kazakhstan464211%3%
Uzbekistan393 757%3%
Lithuania361 74%2%
Germany350 23%2%
Japan315 332%2%
Tajikistan208 NA1%
Other1 595 -21%10%
Total15 715 15%100%

According to preliminary estimates, unconsolidated sales of JSC Olainfarm in 2018 might reach 96 million euros, while consolidated sales might reach 130 million euros. According to the preliminary sales numbers published here, during two months of 2018, the company has already made 16% of its unconsolidated sales estimate and 15% of its annual consolidated sales estimate.

JSC Olainfarm is one of the biggest pharmaceutical companies in Latvia with more than 45 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 50 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: 20/03/2018

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