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Sales Of Olainfarm In Six Months Increase By 5%. The Fastest Growth Recorded In Japan And Belarus


Posted on: 19 Jul 18



Olaine, June 18, 2018


Sales Of Olainfarm In Six Months Increase By 5%. The Fastest Growth Recorded In Japan And Belarus  


Consolidated Results of June and 6 months of 2018


Preliminary consolidated Olainfarm Group sales in June 2018 reached 11.8 million euros, which represents an increase by 16% compared to sales of June 2017. The half-yearly preliminary results also demonstrated 5% growth vs. the same period of 2017 and reached almost 62 million euros. In the first half of the year Olainfarm Group was selling its’ products to 50 markets worldwide.


Positive performance in June was demonstrated by all core markets of the Group - especially Russia, where sales increased by 77%.  Sales in Latvia reached 27% increase, while in Belarus the Group’s performance increased by 20%. Although some decline was registered in Ukraine, the half year performance in this significant market pleased with 12% increase, compared to the 6 months of Year 2017.


In June, sales in India increased by 53%, but Italy outperformed even by 140%. The cyclicality of orders has also positively impacted the results in June in particular outlets, where the holidays in May created a drop in the previous month. In total the Group traded its products in 33 markets.


The largest sales markets of the Olainfarm group in the first 6 month were Russia and Latvia, each representing 28% of the total sales volume; Belarus (13% share) and Ukraine (10% of total sales). The company's major trading partners also were Kazakhstan, Uzbekistan, Germany, Lithuania, Japan, Tajikistan. The most impressive increase in sales over the past 6 months was achieved in Japan, to which the company has successfully exported substances to treat Alzheimer's disease.


In the first half of the year, sales increased by 38% in Uzbekistan, by 35% in Germany, by 29% in Tajikistan, while in Lithuania, sales grew by 28% vs. the six months of the last year. A slight drop (-5%) was noted in Russia and Kazakhstan in the first half of the current year.


June 2018, consolidated sales Sales, thsnd. EUR Share in total sales Changes to June 2017 

 
Latvia 4 758 40% 77%
Russia 2 813 24% 27%
Belarus 1 223 10% 20%  
Ukraine 675 6% -37%  
Italy 367 3% 140%
Uzbekistan 356 3% -13%  
Kazakhstan 277 2% -55%  
Lithuania 148 1% -2%  
Germany 117 1% -15%  
India 112 1% 53%  
Other 921 8% -42%  
Total 11 770 100% 16%  


6 months of 2018, consolidated sales Sales, thsnd. EUR Share in total sales Changes to 6 months 2017
Russia 17 449 28% -5%
Latvia 17 212 28% 20%
Belarus 8 314 13% 48%
Ukraine 6 074 10% 12%
Kazakhstan 1 532 2% -5%
Uzbekistan 1 270 2% 38%
Germany 1 071 2% 35%
Lithuania 1 070 2% 28%
Japan 731 1% 324%
Tajikistan 695 1% 29%
Other 6 471 10% 38%
Total 61 887 100% 5%


Performance of daughter companies in June and 6 months of 2018


Sales of pharmacies of SIA Latvijas Aptieka in June 2018 reached 1,9 million euros and remained at the level of the previous year. Sixty-nine pharmacies were operating during June.  Sales of Silvanols in June grew by 72% and reached 0.5 million euros. Combined sales of Tonus Elast and its Russian sales arm Elast Medical were 0.8 million euros. Combined sales of health care companies Diamed and Olainmed in May reached 0.20 million euros, while sales of NPK Biotest reached 0.16 million euros.


Sales of pharmacies of SIA Latvijas aptieka in 6 months of 2018 reached 11.7 million euros, which represents an increase by 14% compared to the same period of 2017.  Sales of SIA Silvanols in six months of 2018 were 2,9 million euros and demonstrated slight increase in comparison to the same period of the last year. Sales of SIA Tonus Elast in five months reached 4.5 million euros.  Combined sales of health care companies Diamed and Olainmed in the first half of 2018 reached 1,27 million euros, but sales of NPK Biotest -  1.14 million euros.


  June 2018  6 months 2018
Sales markets of Olainfarm 26 42
Sales markets of the Group 33 50
Number of pharmacies of Latvijas Aptieka 69 69
Sales of Latvijas Aptieka €  1 871 402.34 €  11 659 325.18
Sales of Olainmed and Diamed €  208 705.00 €  1 269 591.00
Sales of NPK Biotest €  159 300.47 €  1 140 987.47
Sales of Tonus Elast and Elast Medical €  796 519.86 €  4 450 103.94
Sales of Silvanols €  495 115.00 €  2 871 780.18




Non- consolidated data for June and 6 months of 2018


According to non-consolidated preliminary data of June, JSC "Olainfarm" sold its products by 9.4 million euros, which is by 14% more than in June 2017. Sales volumes were positively affected by 86% increase in Russia and 25% increase in Latvia. In June, sales increased to 50% in India and by 140% in Italy. In Belarus, sales of Olainfarm in June have remained at the level of last year, while in Ukraine the turnover decreased by 37% due to the cyclical nature of the orders. In June, JSC "Olainfarm" products were sold in 26 countries.


The non-consolidated results of the first half-year show that JSC Olainfarm sold production for almost 48 million euros, keeping quantities at the level of the previous year. The first half of the year has proven to be very successful for the company in almost all major outlets. The fastest raise in the six months has been noted in Japan, where the sales grew by 324% vs. the corresponding period of last year. Sales increased by 36% in Germany, by 28% in Uzbekistan, by 47% in Lithuania, by 37% in Tajikistan and by 26% in Belarus. In its’ home market JSC Olainfarm also performed with 20% turnover growth.


June 2018, non- consolidated sales Sales, thsnd. EUR Share in total sales Changes to June 2017 
Russia 4 350 46% 86%
Latvia 1 393 15% 25%
Belarus 1 012 11% 0%
Ukraine 674 7% -37%
Italy 367 4% 140%
Uzbekistan 356 4% -13%
Lithuania 138 1% 9%
Kazakhstan 116 1% -77%
Germany 114 1% -16%
India 109 1% 50%
Other 767 8% -41%
Total 9 396 100% 14%



6 months of 2018, non-consolidated sales Sales, thsnd. EUR Share in total sales Changes to 6 months 2017
Russia 15 364 32% -8%
Latvia 8 570 18% 20%
Belarus 6 996 15% 26%
Ukraine 5 950 12% 12%
Uzbekistan 1 270 3% 38%
Germany 1 062 2% 36%
Kazakhstan 1 020 2% -15%
Lithuania 1 020 2% 47%
Japan 731 2% 324%
Tajikistan 695 1% 37%
Other 5 143 11% -43%
Total 47 821 100% 0%


According to the estimates of JSC Olainfarm, the unconsolidated turnover of the company in 2018 could reach 96 million euros, while the consolidated turnover - 130 million euros. According to the preliminary turnover figures published here, in the 6 months of 2018, 50% of the total unconsolidated turnover planned for 2018 and 48% of the planned annual consolidated turnover has been achieved.


 JSC Olainfarm is one of the biggest pharmaceutical companies in Latvia with 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 60 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: 19/07/2018

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