For Investors

Sales of Olainfarm in February Increase by 33%

on March 19, 2018

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 sales Sales, thsnd. EUR Changes to February 2017 Share in total sales
Latvia 2 773 11% 26%
Russia 2 753 5% 26%
Belarus 1 661 92% 16%
Ukraine 1 024 -3% 10%
Japan 315 6430% 3%
Kazakhstan 300 118% 3%
Lithuania 229 161% 2%
Uzbekistan 222 NA 2%
Georgia 165 155% 2%
Tajikistan 145 NA 1%
Other 1 099 62% 10%
Total 10 686 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 Olainfarm 28
Sales markets of the Group 35
Number of pharmacies of Latvijas aptieka 68
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 sales Sales, thsnd., EUR Changes to February 2017 Share in total sales
Russia 2 459 8% 29%
Latvia 1 526 26% 18%
Belarus 1 427 67% 17%
Ukraine 1 024 -3% 12%
Japan 315 6430% 4%
Kazakhstan 231 257% 3%
Lithuania 225 240% 3%
Uzbekistan 222 NA 3%
Tajikistan 145 NA 2%
Germany 143 67% 2%
Other 899 149% 10%
Total 8 616 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 sales Sales, thsnd. EUR Changes to 2 months of 2017 Share in total sales
Latvia 5 695 15% 29%
Russia 4 469 -10% 22%
Belarus 3 357 35% 17%
Ukraine 2 132 56% 11%
Kazakhstan 549 124% 3%
Uzbekistan 393 757% 2%
Lithuania 374 47% 2%
Germany 353 23% 2%
Japan 315 332% 2%
Tajikistan 208 NA 1%
Other 2 032 -17% 10%
Total 19 877 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 Olainfarm 32
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 sales Sales, thsnd. EUR Changes to 2 months of 2017 Share in total sales
Russia 3 946 -15% 25%
Latvia 3 024 21% 19%
Belarus 2 927 19% 19%
Ukraine 2 132 56% 14%
Kazakhstan 464 211% 3%
Uzbekistan 393 757% 3%
Lithuania 361 74% 2%
Germany 350 23% 2%
Japan 315 332% 2%
Tajikistan 208 NA 1%
Other 1 595 -21% 10%
Total 15 715 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

 

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SigitaSales of Olainfarm in February Increase by 33%

Consolidated Sales of Olainfarm Reached 122 Million Euros

on February 28, 2018

Consolidated profit and loss calculation of JSC Olainfarm for 2017 shows that with the sales worth 122 million euros the Group has set the new sales record. Sales in 2017 increased by 10% compared to the sales of 2016.  The net profit remained at the level of 2016 and was 11.63 million euros.

Board of JSC Olainfarm proposes a dividend of 0.21 euros per share from the profit of 2017. Such a dividend will be possible if audited statements for 2017 do not deviate significantly from unaudited ones.

“Successful operations of the Company in future will largely depend on its ability to diversify its sales markets and products and to preserve its current position in its key markets. In this respect, the Company continues taking all steps necessary to obtain the market authorisations in Turkey, where the first approvals are expected by middle of 2018. The Company may continue acquiring daughter companies in several areas related to pharmaceutical sector, possibly with different sales markets. An important precondition for more efficient operations would be an ability to integrate already acquired companies and optimize the joint administrative, logistics and marketing structure,” says Olegs Grigorjevs Chairman of the Board of JSC Olainfarm.

Sales during the fourth quarter of 2017 shrunk by 1% compared to the same period of 2016 and reached 31.7 million euros.  Net income of the group in 4th quarter was 5 million euros, which represents an increase by 32% compared to the fourth quarter of 2016, making this one of the best quarters in terms of profitability.

Relatively the biggest sales increase in 2017 was achieved in Germany, where sales grew by 103%. Sales to The Netherlands grew by 57%, while sales to Belarus increased by 21%. From all the major sales markets of the Group, only sales to Poland, Uzbekistan and Ukraine experienced some reduction.  During the entire year of 2017, compared to its first nine years, share of Russia in its total sales increased from 33% to 35%.  Share of sales to other countries have remained relatively unchanged. Major sales markets of Olainfarm Group in 2017 were Russia, Latvia, Ukraine and Belarus.

During 2017, new registration processes were completed in Latvia, Kyrgyzstan, Moldova Armenia and Azerbaijan.  Registration of several medicines produced by NPK Biotest continue in Belarus has also been completed. Registration processes are still ongoing in Nepal, Armenia, Turkey, Myanmar, Cameroon and Vietnam. Registration of new product Jogurt Actio has started in several markets. New synthesis schemes have been developed for synthesis of anticancer and anti-tuberculosis medicines.

Annual meeting of shareholders of JSC Olainfarm convened on June 1, 2017 approved operating plan of the Group for 2017.  According to it, sales of the Group in 2017 are planned to be 127 million euros, but the net profit will reach 15.5 million euros. Because of poor profitability after the third quarter the management reviewed its profit guidance to either 9 million euros or ten million euros, subject to the possibility to reverse the deferred tax liability.  According to this report, annual sales target has been attained by 96%, while net profit guidance has been exceeded by 15%.

Condensed Consolidated Statement of Financial Position Group
31.12.2017 31.12.2016
EUR ‘000 EUR ‘000
     ASSETS
NON-CURRENT ASSETS
Intangible assets 37 042 31 860
Property, plant and equipment 42 562 40 943
Investment properties 2 731 1 963
Financial assets 2 704 6 514
TOTAL NON-CURRENT ASSETS 85 039 81 280
CURRENT ASSETS
Inventories 24 710 24 011
Receivables 34 280 36 124
Cash 3 158 3 165
TOTAL CURRENT ASSETS 62 148 63 300
TOTAL ASSETS 147 187 144 580
           EQUITY AND LIABILITIES
EQUITY
Share capital 19 719 19 719
Share premium 2 504 2 504
Other components of equity (79) 322
Retained earnings 76 518 74 081
Non-controlling interests 37
TOTAL EQUITY 98 662 96 663
LIABILITIES
Non-current liabilities
Borrowings 15 806 18 800
Deferred corporate income tax 3 025
Deferred income 2 347 2 810
Total Non-Current Liabilities 18 153 24 635
Current liabilities
Borrowings 13 890 7 020
Trade payables and other liabilities 16 007 15 769
Deferred income 475 493
Total Current Liabilities 30 372 23 282
TOTAL LIABILITIES 48 525 47 917
TOTAL EQUITY AND LIABILITIES 147 187 144 580

 

Consolidated statement of comprehensive income Group Group
Q4 2017 Q4 2016 M12 2017 M12 2016
EUR ‘000 EUR ‘000 EUR ‘000 EUR ‘000
Net revenue 31 694 32 018 122 078 110 693
Cost of goods sold (12 389) (10 850) (47 240) (40 855)
Gross Profit 19 305 21 168 74 838 69 838
Selling expense (11 220) (10 393) (38 228) (31 733)
Administrative expense (6 653) (6 156) (23 525) (19 735)
Other operating income 848 1 157 2 601 3 080
Other operating expense (217) (3 115) (3 677) (9 766)
Share of profit of an associate 44 36 114 63
Income from investments in subsidiaries
Financial income 22 2 125 237 3 479
Financial expense (390) (100) (2 303) (307)
Profit Before Tax 1 739 4 722 10 057 14 919
Corporate income tax 2 (252) (1 804) (2 883)
Deferred corporate income tax 3 293 (657) 3 379 (450)
PROFIT FOR THE REPORTING PERIOD 5 034 3 813 11 632 11 586
Other comprehensive loss for the reporting period (119) (119)
Total comprehensive income for the reporting period 4 915 3 813 11 513 11 586
Total comprehensive income attributable to:
The equity holders of the Parent Company 4 915 3 815 11 512 11 579
Non-controlling interests (2) 1 7
Basic and diluted earnings per share, EUR 0.36 0.27 0.83 0.82

 

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 50 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

 

Information prepared by:
Salvis Lapin
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

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Eva DombrovskaConsolidated Sales of Olainfarm Reached 122 Million Euros

Sales of Olainfarm in January Exceed 9 Million Euros

on February 15, 2018

Preliminary consolidated sales results of AS Olainfarm for January of 2018 show that sales have reached 9.19 million euros, which is comparable to the sales volume demonstrated in January of 2017.  The biggest sales increase was achieved in Uzbekistan, where sales grew by 237%.  Sales to Ukraine grew by 222%, but sales to Kazakhstan increased by 131%.  The biggest sales reductions were experienced in The Netherlands, where sales shrunk by 89% and Poland, where sales shrunk by 40%.  Major sales markets of Olainfarm group in January of 2018 were Latvia, Russia, Belarus and Ukraine.  Products of the group were sold to 31 countries.

January 2018, consolidated sales Sales, Thsnd. EUR Changes to January 2017 Share in total sales
Latvia 2 922 18% 32%
Russia 1 716 -27% 19%
Belarus 1 696 5% 18%
Ukraine 1 107 222% 12%
Kazakhstan 249 131% 3%
Germany 210 4% 2%
Poland 172 -40% 2%
Uzbekistan 171 237% 2%
Lithuania 145 -13% 2%
The Netherlands 97 -89% 1%
Other 705 2% 8%
Total 9 190 0% 100%

 

Sales numbers of daughter companies of JSC Olainfarm that provide significant impact on consolidated results show that sales of Latvijas Aptieka in January reached 2.03 million euros, which represents an increase by 18% compared to January of 2017. Sixty-nine pharmacies were operating during January.  Sales of Silvanols during this period were 0.42 million euros, which represents a reduction by 16%. Combined sales of Tonus Elast and its Russian based distributor Elast Medical reached 0.52 million euros.  Combined sales of medical companies Diamed and Olainmed reached 0.2 million euros, while sales of Belarus based company NPK Biotest also reached 0.2 million euros.

January, 2018
Sales markets of Olainfarm 27
Sales markets of the Group 31
Number of pharmacies of Latvijas aptieka 69
Sales of Latvijas aptieka € 2 026 519
Combined sales of Olainmed and Diamed € 197 000
Sales of NPK Biotest € 196 028
Combined sales of Tonus Elast and Elast Medical € 515 252
Sales of Silvanols € 418 216

 

According to unconsolidated preliminary results, sales of JSC Olainfarm in January 2018 reached 7.1 million euros, which represents a reduction by 9% compared to the same period of 2017.  Biggest sales increase was achieved in Uzbekistan, where sales grew by 237%. Sales to Ukraine grew by 222%, but sales to Kazakhstan grew by 175%.  The biggest sales reduction was experienced in The Netherlands, where sales shrunk by 89%.  Major sales markets during January were Belarus, Latvia, Russia and Ukraine.  In total products of Olainfarm were sold to 27 countries.

January 2018, unconsolidated sales Sales, Thsnd, EUR Changes to January 2017 Share in total sales
Belarus 1 500 -7% 21%
Latvia 1 498 16% 21%
Russia 1 486 -36% 21%
Ukraine 1 107 222% 16%
Kazakhstan 234 175% 3%
Germany 207 5% 3%
Uzbekistan 171 237% 2%
Lithuania 137 -4% 2%
Poland 133 -50% 2%
The Netherlands 97 -89% 1%
Other 529 -6% 7%
Total 7 099 -9% 100%

 

Preliminary sales targets of JSC Olainfarm for 2018 are being finalized, therefore the percentages of achieved sales targets will be provided beginning with the next monthly sales reports, once budgets for 2018 are approved.

 

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 50 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

 

 

Information prepared by:
Salvis Lapin
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

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Eva DombrovskaSales of Olainfarm in January Exceed 9 Million Euros

Sales of Olainfarm Last Year Increased by at Least 4%

on January 16, 2018

Preliminary consolidated results of JSC Olainfarm for December 2017 show that sales have reached 10.08 million euros, which represents a reduction by 2% compared to December 2016. The biggest sales increase was achieved in Ukraine, where sales grew by 700%, and in Belarus, where sales increased by 329%. The biggest sales reduction was experienced in Kyrgyzstan, where sales shrunk by 36%, while sales to Kazakhstan shrunk by 32%. During December 2017, significant shipments were also made to Uzbekistan. Major sales markets of Olainfarm group during December 2017 were Russia, Latvia and Ukraine.

December 2017, consolidated sales Sales, thsnd. EUR Changes to December 2016 Share in total sales
Russia 4 471 -12% 44%
Latvia 2 682 -2% 27%
Ukraine 840 700% 8%
Belarus 307 329% 3%
Tajikistan 218 -15% 2%
Kazakhstan 193 -32% 2%
Uzbekistan 176 NA 2%
Lithuania 126 19% 1%
Georgia 124 -7% 1%
Kyrgyzstan 113 -36% 1%
Other 826 -39% 8%
Total 10 076 -2% 100%

 

Sales of pharmacy chain of Latvijas aptieka during December 2017 were 2 million euros, which represents an increase by 21% compared to sales this company made in December 2016. Sixty-nine pharmacies were operating during this period. Sales of Silvanols during December 2017 were 0.4 million euros, which represents a reduction by 18% compared to December 2016. During December, Silvanols sold its products to nine European countries and with the help of JSC Olainfarm also to Belarus, Russia, Azerbaijan and Kosovo. Sales of Tonus Elast during December 2017 were 0.8 million euros, which represents a reduction by 26% compared to December 2016. The sales were made to 21 countries in three continents.

According to preliminary numbers, consolidated sales of JSC Olainfarm in 2017 reached 114.04 million euros, which represents an increase by 4% compared to 2016. The biggest sales increases have been achieve in Germany, where sales grew by 103% and The Netherlands, where sales grew by 57%. Biggest sales reductions were experienced in Ukraine, Where sales shrunk by 21% and Uzbekistan, where sales shrunk by 15%. Major sales markets of Olainfarm group in 2017 were Russia, Latvia, Ukraine and Belarus. Companies of the group made sales to 61 countries in five continents.

Consolidated sales, 2017 Sales, Thsnd. EUR Changes to 2016 Share in total sales
Russia 39 850 6% 35%
Latvia 28 492 7% 25%
Ukraine 10 936 -21% 10%
Belarus 8 939 21% 8%
The Netherlands 3 856 57% 3%
Kazakhstan 3 116 -2% 3%
Uzbekistan 1 869 -15% 2%
Germany 1 718 103% 2%
Lithuania 1 508 13% 1%
Poland 1 376 -5% 1%
Other 12 382 -5% 11%
Total 114 042 4% 100%

 

Sales of Latvijas aptieka in 2017 reached 21.6 million euros, which represents an increase by 16% compared to 2016. Sales of Silvanols in 2017 were 5.2 million euros, which represents a reduction by 3% compared to 2016, where sales of Silvanols were 5.4 million euros. Products of Silvanols were sold to twelve European countries and with the help of JSC Olainfarm also to Kazakhstan, Lithuania, Belarus, Russia, Armenia, Mongolia, Kosovo and Azerbaijan. Sales of Tonus Elast in 2017 were 8.5 million euros, and its products were sold to 38 countries in four continents.

According to preliminary unconsolidated data, sales of JSC Olainfarm in December 2017 were 8.08 million euros, which represents an increase by 4% compared to December 2016. The biggest sales increase was achieved in Ukraine, where sales grew by 625%. Sales to Belarus increased by 382%, while sales to Lithuania increased by 50%. The biggest sales reduction was experienced in Kazakhstan where sales shrunk by 54%. During December 2017, JSC Olainfarm also made significant shipments to Uzbekistan and Bulgaria. The biggest sales markets of JSC Olainfarm in December 2017 were Russia, Latvia and Ukraine. In total during this period, products of JSC Olainfarm were sold to 28 countries.

December 2017, unconsolidated sales Sales, Thsnd. EUR Changes to December 2016 Share in total sales
Russia 4 181 -11% 52%
Latvia 1 410 20% 17%
Ukraine 761 625% 9%
Belarus 245 382% 3%
Tajikistan 212 -13% 3%
Uzbekistan 176 NA 2%
Lithuania 120 50% 1%
Kazakhstan 112 -54% 1%
Bulgaria 104 NA 1%
Kyrgyzstan 99 -26% 1%
Other 655 -36% 8%
Total 8 075 4% 100%

 

According to preliminary unconsolidated results, sales of JSC Olainfarm in 2017 reached 91.97 million euros, which is comparable to the sales company made in 2016. The biggest sales increase in 2017 was achieved in Germany, where sales grew by 100%, while sales to The Netherlands increased by 57%. The biggest sales reduction was experienced in Ukraine, where sales shrunk by 28%. The major sales markets of JSC Olainfarm during this period were Russia, Latvia, Ukraine and Belarus. In total during 2017 products of JSC Olainfarm were sold to 51 countries in five continents.

2017, unconsolidated sales Sales, thsnd. EUR Changes to 2016 Share in total sales
Russia 36 471 1% 40%
Latvia 14 815 10% 16%
Ukraine 10 655 -28% 12%
Belarus 8 764 20% 10%
The Netherlands 3 856 57% 4%
Kazakhstan 2 094 -19% 2%
Uzbekistan 1 869 -15% 2%
Germany 1 670 100% 2%
Lithuania 1 281 16% 1%
Turkmenistan 1 246 17% 1%
Other 9 247 -8% 10%
Total 91 968 0% 100%

 

General meeting of shareholders of JSC 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 2017 the company has met 96% of annual target for unconsolidated sales and 90% of annual target for consolidated sales.

 

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 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

 

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SigitaSales of Olainfarm Last Year Increased by at Least 4%

Recording of the Third Quarter 2017 Investor Conference Webinar

on January 15, 2018

On January 11 JSC Olainfarm organized its Investor Conference Online Webinar. During the webinar the member of the management board of JSC Olainfarm Salvis Lapiņš analyzed the financial results of third quarter 2017 and informed about the other recent activities within the company.

During the webinar, Salvis Lapiņš received a question on the amount of receivables overdue for 90 and more days that are unprovided for. The amount totaled 1.4 million euros as of October 1st, 2017.

The recorded JSC Olainfarm webinar is available online: http://ej.uz/OLF_Q3_2017, and the presentation, demonstrated during the webinar, is available in the previously published company’s announcement: http://ej.uz/OLF_Q32017_EN.

Olainfarm thanks all participants, who joined the webinar, and encourages everybody to follow company’s announcements to get information on the next webinar!

 

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 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

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Eva DombrovskaRecording of the Third Quarter 2017 Investor Conference Webinar

Olainfarm Holds Third Quarter 2017 and Latest Corporate News Investor Conference Webinar

on January 11, 2018

JSC Olainfarm invites shareholders, investors, mass media representatives and other stakeholders to join its investor conference webinar scheduled on January 11, 2018 at 16:00 (EET). To join the webinar please follow the instructions below.

Webinar will be hosted by the Member of the Management Board Salvis Lapiņš. The presentation will be held in English.

During the webinar Salvis Lapiņš will inform about JSC Olainfarm latest activities and analyze the financial results of the third quarter 2017. During the webinar the enclosed presentation will be presented: Webinar Presentation: 3rd quarter and 9 months of 2017

After the presentation investors are welcome to ask questions.

What is a webinar?
Webinar is a virtual conference, during which company’s representative gives information about the company, its activities and future plans. Webinar allows interactive communication and provides an opportunity to ask questions and get answers directly from the company.

How to join the webinar?
All you need is a computer with internet connection and headphones.

To join the webinar, we invite you to register via http://ej.uz/OLFQ3.

You will be provided with the webinar link and instructions to join webinar successfully. When joining the webinar for the first time, you will be asked to download the system application on your computer which will take only few seconds. For more information on webinar service please visit: http://www.nasdaqbaltic.com/en/products-services/webinars-3/

Join the webinar and be the first one to hear the news!

 

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 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

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SigitaOlainfarm Holds Third Quarter 2017 and Latest Corporate News Investor Conference Webinar

Sales of Olainfarm in November shrinks by 10%

on December 20, 2017

Preliminary consolidated results of JSC Olainfarm for November 2017 show that total sales of the company have reached 10.07 million euros, which represents a reduction by 10% compared to the same period of 2016. The biggest sales increase has been achieved in Ukraine, where it increased by 209%. Sales to Kyrgyzstan increased by 149%, but sales to Uzbekistan increased by 133%. Biggest sales reduction took place in Kazakhstan, where they shrunk by 65%. During November 2017 JSC Olainfarm also made significant shipments to Turkmenistan. Major sales markets of the Group during November 2017 were Russia, Latvia and Ukraine.

November 2017, consolidated sales Sales, thsnd. EUR Changes to November 2016 Share in total sales
Russia 3 563 -33% 35%
Latvia 2 643 5% 26%
Ukraine 1 542 209% 15%
Belarus 520 14% 5%
Uzbekistan 297 133% 3%
Kazakhstan 191 -65% 2%
Germany 158 36% 2%
Turkmenistan 143 NA 1%
Lithuania 122 -25% 1%
Kyrgyzstan 116 149% 1%
Other 771 -45% 8%
Total 10 066 -10% 100%

 

Sales of Latvijas aptieka during November were 1.9 million euros, which represents an increase by 18% compared to November of 2016. Sixty – nine pharmacies were operating during this period. Sales of Silvanols in November 2017 were 0.46 million euros, which represents a reduction by 28% compared to the same period of last year. During November, Silvanols was selling its products to nine European countries and with the assistance from JSC Olainfarm also to Belarus, Russia, Azerbaijan and Kosovo. Sales of Tonus Elast during November 2017 were 0.9 million euros, which represents an increase by 15% compared to November 2016. Its products were sold to 20 countries in three continents.

According to preliminary consolidated results sales of eleven months of 2017 reached 105.19 million euros, which represents an increase by 5% compared to eleven months of 2016. The biggest sales increase during this period was achieved in Germany, where sales grew by 106%, while sales to The Netherlands increased by 92%. The biggest sales reduction was experienced in Ukraine, where sales shrunk by 27%. Major sales markets of the Group during this period were Russia, Latvia, Ukraine and Belarus. Products of the group were sold to 61 countries in five continents.

11 months of 2017, consolidated sales Sales, thsnd. EUR Changes to 11 months of 2016 Share in total sales
Russia 35 379 9% 34%
Latvia 26 994 12% 26%
Ukraine 10 096 -27% 10%
Belarus 8 734 19% 8%
The Netherlands 3 856 92% 4%
Kazakhstan 2 923 0% 3%
Germany 1 712 106% 2%
Uzbekistan 1 694 -23% 2%
Lithuania 1 382 14% 1%
Poland 1 281 -3% 1%
Other 11 138 -5% 11%
Total 105 189 5% 100%

 

During eleven months period, sales of Latvijas aptieka reached 19.6 million euros, which represents an increase by 15% compared to the same period of last year. Sales of Silvanols during this period shrunk by 4% and reached 4.7 million euros. Silvanols sold its products to twelve European countries and with assistance from JSC Olainfarm also to Kazakhstan, Lithuania, Belarus, Russia, Armenia, Mongolia, Kosovo and Azerbaijan. Sales of Tonus Elast during eleven months were 7.7 million euros, and its products were sold to 38 countries in four continents.

According to preliminary unconsolidated results, sales of JSC Olainfarm during November 2017 reached 7.97 million euros, which represents a reduction by 12% compared to November 2016. The biggest sales increase during this period was achieved in Ukraine, where sales grew by 223%. Sales to Uzbekistan increased by 133%, sales to Kyrgyzstan increased by 104%. The biggest sales reduction during November was experienced in Kazakhstan, where sales shrunk by 76%. During November 2017, JSC Olainfarm also made significant shipments to Turkmenistan. Major sales markets of JSC Olainfarm during this period were Russia, Ukraine, Latvia and Belarus. In total products of Olainfarm were sold to 23 countries in Europe and Asia.

November 2017, unconsolidated sales Sales, thsnd. EUR Changes to November 2016 Share in total sales
Russia 3 194 -37% 40%
Ukraine 1 542 223% 19%
Latvia 1 370 9% 17%
Belarus 502 13% 6%
Uzbekistan 297 133% 4%
Turkmenistan 143 NA 2%
Germany 137 22% 2%
Lithuania 118 -14% 1%
Kazakhstan 115 -76% 1%
Kyrgyzstan 95 104% 1%
Other 454 -52% 6%
Total 7 967 -12% 100%

 

According to preliminary unconsolidated results, sales of JSC Olainfarm in eleven months of 2017 were 84 million euros, which represents a reduction by 1% compared to eleven months of 2016. The biggest sales increase during this period was achieved in Germany, where sales grew by 103% and The Netherlands, where the sales grew by 92%. The biggest sales reduction was experienced in Ukraine, where sales shrunk by 27% and Uzbekistan, where sales shrunk by 23%. Major sales markets of JSC Olainfarm during this period were Russia, Latvia, Ukraine and Belarus. In total during eleven months period products of JSC Olainfarm were sold to 50 countries in five continents.

11 months of 2017, unconsolidated sales Sales, thsnd. EUR Changes to 11 months of 2016 Share in total sales
Russia 32 290 3% 38%
Latvia 13 404 9% 16%
Ukraine 9 894 -27% 12%
Belarus 8 622 19% 10%
The Netherlands 3 856 92% 5%
Kazakhstan 1 982 -15% 2%
Uzbekistan 1 694 -23% 2%
Germany 1 665 103% 2%
Turkmenistan 1 167 9% 1%
Lithuania 1 161 13% 1%
Other 8 261 -9% 10%
Total 83 996 1% 100%

 

General meeting of shareholders of JSC 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 eleven months of 2017 the company has met 88% of annual target for unconsolidated sales and 83% of annual target for consolidated sales.

 

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 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

 

 

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SigitaSales of Olainfarm in November shrinks by 10%

Sales of Olainfarm in October Shrink by 7%

on November 15, 2017

Preliminary consolidated results of JSC Olainfarm for October 2017 show that company’s sales have reached 9.51 million euros, which represents reduction by 7% compared to the same period of 2016. The biggest sales increase during this period was achieved in Poland, where it grew by 623%. Sales to Moldova increased by 180%. Significant shipments during this period were also made to Tajikistan. Major sales markets of Olainfarm group during October 2017 were Russia, Latvia and Ukraine.

October 2017, consolidated sales Sales, thsnd. EUR Changes to October 2016 Share in total sales
Russia 3 434 -18% 36%
Latvia 2 754 18% 29%
Ukraine 1 143 3% 12%
Belarus 518 -5% 5%
Germany 249 -11% 3%
Poland 216 623% 2%
Tajikistan 176 NA 2%
Moldova 149 180% 2%
Lithuania 136 40% 1%
Georgia 105 7% 1%
Other 630 -55% 7%
Total 9 510 -7% 100%

 

Sales of pharmacies of Latvijas aptieka in October 2017 were 2.02 million euros, which represents an increase by 25% compared to the same period of last year. Sixty-nine pharmacies were operating during October. Sales of Silvanols in October 2017 were 0.4 million euros, which represents a reduction by 25% compared to the same period of 2016. Silvanols was selling its products in six European countries. Sales of Tonus Elast in October were 0.62 million euros, which represents a reduction by 29% compared to October 2016. Tonus Elast sold its products in 15 countries in three continents.

In ten months of 2017, according to the preliminary results, the consolidated sales of JSC Olainfarm reached 95.11 million euros, which represents an increase by 7% compared to ten months of 2016. The biggest sales increase during this period was achieved in Germany, where sales increased by 118%. Sales to The Netherlands increased by 92%. Biggest sales reduction took place in Ukraine, where sales shrunk by 35%. The major sales markets of Olainfarm group during this period were Russia, Latvia, Ukraine and Belarus.

10 months of 2017, consolidated sales Sales, thsnd. EUR Changes to 10 months of 2016 Share in total sales
Russia 31 816 17% 33%
Latvia 24 359 13% 26%
Ukraine 8 554 -35% 9%
Belarus 8 214 20% 9%
The Netherlands 3 831 92% 4%
Kazakhstan 2 733 16% 3%
Germany 1 554 118% 2%
Uzbekistan 1 397 -33% 1%
Lithuania 1 265 15% 1%
Poland 1 222 11% 1%
Other 10 168 -3% 11%
Total 95 113 7% 100%

 

Sales of pharmacies of Latvijas aptieka in 10 months of 2017 reached 17.7 million euros, which represents an increase by 14% compared to ten months of 2016.  Sales of Silvanols during this ten months period have reached 4.3 million euros, which represents an increase by 2%. Products of Silvanols are sold to twelve European countries. Sales of Tonus Elast in ten months was 6.8 million euros, and the company sold its products to 37 countries in four continents.

According to unconsolidated preliminary results, sales of JSC Olainfarm in October 2017 were 7.63 million euros, which represents a reduction by 5% compared to October 2016. The biggest sales increase was achieved in Poland, where sales grew by 552%. Sales to Lithuania increase by 58%. During October 2017, the company also made significant shipments to Tajikistan and Albania. Biggest sales reduction was experienced in Kazakhstan, where sales shrunk by 35%. Major markets of the company during October 2017 were Russia, Latvia, Ukraine and Belarus. During October 2017 JSC Olainfarm sold its products to 27 countries in two continents.

October 2017, unconsolidated sales Sales, thsnd. EUR Changes to October 2016 Share in total sales
Russia 3 151 -18% 41%
Latvia 1 447 33% 19%
Ukraine 1 125 3% 15%
Belarus 518 -1% 7%
Germany 236 -16% 3%
Poland 187 552% 2%
Tajikistan 176 NA 2%
Lithuania 115 58% 2%
Kazakhstan 93 -35% 1%
Albania 77 NA 1%
Other 502 -47% 7%
Total 7 627 -5% 100%

 

According to preliminary unconsolidated results, sales of JSC Olainfarm in ten months of 2017 reached 76.04 million euros, which represents an increase by 3% compared to ten months of 2016. The biggest sales increase during this period was achieved in Germany, where sales grew by 116%. Sales to The Netherlands increased by 92%. Biggest sales reduction was experienced in Ukraine, where it shrunk by 36%. Biggest sales markets of JSC Olainfarm during this period were Russia, Latvia, Ukraine and Belarus. In total in ten months of 2017, JSC Olainfarm sold its products to 50 countries in five continents.

10 months of 2017, unconsolidated sales Sales, thsnd. EUR Changes to ten months of 2016 Share in total sales
Russia 29 096 10% 38%
Latvia 12 043 9% 16%
Ukraine 8 352 -36% 11%
Belarus 8 120 19% 11%
The Netherlands 3 831 92% 5%
Kazakhstan 1 868 0% 2%
Germany 1 528 116% 2%
Uzbekistan 1 397 -33% 2%
Lithuania 1 047 18% 1%
Turkmenistan 1 023 -4% 1%
Other 7 738 -4% 10%
Total 76 043 3% 100%

 

General meeting of shareholders of JSC 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 ten months of 2017 the company has met 79% of annual target for unconsolidated sales and 75% of annual target for consolidated sales.

 

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 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

 

 

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SigitaSales of Olainfarm in October Shrink by 7%

Sales of Olainfarm in September Increase by 17%

on October 16, 2017

Preliminary consolidated results of JSC Olainfarm for September 2017 show that sales made during this month reached 9.63 million euros, which represents an increase by 17% compared to September 2016. The biggest sales increase was achieved in Uzbekistan, where sales grew by 388%. Sales to Albania grew by 232%, sales to Germany grew by 159%, sales to Russia grew by 69% but sales to Ukraine increased by 54%. The biggest sales reduction happened in The Netherlands, where sales shrunk by 73%. Major sales markets of the Group during September 2017 were Russia, Latvia, Ukraine and Belarus.

September 2017, consolidated sales Sales, thsnd. EUR Changes to September 2016 Share in total sales
Russia 3 447 69% 36%
Latvia 2 728 13% 28%
Ukraine 1 021 54% 11%
Belarus 674 24% 7%
Kazakhstan 375 -18% 4%
The Netherlands 146 -73% 2%
Uzbekistan 144 388% 1%
Lithuania 141 37% 1%
Germany 129 159% 1%
Albania 111 232% 1%
Other 712 -46% 7%
Total 9 628 17% 100%

 

Sales of pharmacies of Latvijas aptieka during September 2017 were 1.94 million euros, which represents an increase by 21% compared to September 2016. Sixty-nine pharmacies were operating during this period. Sales of Silvanols in September 2017 were 0.55 million euros, which represents a reduction by 13% compared to the same period of last year. During September 2017, Silvanols sold its products in four European countries and with the mediation of JSC Olainfarm also to Kazakhstan, Lithuania, Belarus, Russia, Armenia, Mongolia and Azerbaijan. Sales of Tonus Elast in September reached 0.74 million euros, which represents an increase by 40% compared to September 2016. Its products were sold to 16 countries in three continents.

According to preliminary consolidated results, sales of JSC Olainfarm group in nine months of 2017 reached 85.61 million euros, which represents an increase by 9% compared to nine months of 2016. The biggest sales increase during this period was achieved in Germany, where sales grew by 200%, but sales to The Netherlands increased by 133%. The biggest sales reduction was experienced in Ukraine where sales shrunk by 39%. Major sales markets of JSC Olainfarm group in nine months of 2017 were Russia, Latvia, Belarus and Ukraine.

9 months of 2017, consolidated sales Sales, thsnd. EUR Changes to 9 months of 2016 Share in total sales
Russia 28 382 23% 33%
Latvia 21 611 13% 25%
Belarus 7 696 22% 9%
Ukraine 7 412 -39% 9%
The Netherlands 3 814 133% 4%
Kazakhstan 2 640 30% 3%
Uzbekistan 1 397 -22% 2%
Germany 1 305 200% 2%
Lithuania 1 129 18% 1%
Turkmenistan 1 023 -4% 1%
Other 9 200 -8% 11%
Total 85 609 9% 100%

 

Sales of pharmacies of Latvijas aptieka in nine months of 2017 reached 15.7 million euros, which represents an increase by 13% compared to nine months of 2016. Sales of Silvanols in nine months reached 3.89 million euros, which represents an increase by 6% compared to 9 months of 2016. Products of Silvanols were sold to twelve European countries and with the help of JSC Olainfarm also to Kazakhstan, Lithuania, Belarus, Russia, Armenia, Mongolia and Azerbaijan. Sales of Tonus Elast in nine months reached 6.17 million euros and its products were sold to 37 countries in four continents.

According to preliminary unconsolidated results, sales of JSC Olainfarm in September 2017 were 7.55 million euros, which represents an increase by 17% compared to September 2016. The biggest sales increase was achieved in Uzbekistan, where sales grew by 388%. Sales to Albania increased by 232%, sales to Germany increased by 161%, sales to Lithuania increases by 81%, sales to Ukraine increased by 63% and sales to Russia increased by 59%. Biggest sales reduction was experienced in the Netherlands, where sales shrunk by 73% and in Kazakhstan, where sales shrunk by 69%. Biggest sales markets during September 2017 were Russia, Latvia, Ukraine and Belarus. During September 2017, products of JSC Olainfarm were sold to 32 countries in Asia and Europe.

September 2017, unconsolidated sales Sales, thsnd. EUR Changes to September 2016 Share in total sales
Russia 3 255 59% 43%
Latvia 1 334 9% 18%
Ukraine 1 021 63% 14%
Belarus 674 24% 9%
The Netherlands 146 -73% 2%
Uzbekistan 144 388% 2%
Lithuania 135 81% 2%
Germany 129 161% 2%
Kazakhstan 121 -69% 2%
Albania 111 232% 1%
Other 482 -46% 6%
Total 7 552 17% 100%

 

According to preliminary unconsolidated results of JSC Olainfarm for nine months of 2017, sales of the company during this period reached 68.42 million euros, which represents an increase by 4% compared to nine months of 2016. The biggest sales increase was achieved in Germany, where sales increased by 202% and in The Netherlands, where sales grew by 133%. Biggest sales reduction was experienced in Ukraine, where sales shrunk by 40%. Major sales markets of JSC Olainfarm during this period were Russia, Latvia, Belarus and Ukraine. In total, during nine months of 2017, products of JSC Olainfarm were sold to 48 countries in five continents.

9 months of 2017, unconsolidated sales Sales, thsnd. EUR Changes to nine months of 2016 Share in total sales
Russia 25 946 15% 38%
Latvia 10 602 7% 15%
Belarus 7 602 21% 11%
Ukraine 7 228 -40% 11%
The Netherlands 3 814 133% 6%
Kazakhstan 1 774 3% 3%
Uzbekistan 1 397 -22% 2%
Germany 1 292 202% 2%
Turkmenistan 1 023 -4% 1%
Italy 954 36% 1%
Other 6 789 -14% 10%
Total 68 421 4% 100%

 

General meeting of shareholders of JSC 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 nine months of 2017 the company has met 71% of annual target for unconsolidated sales and 67% of annual target for consolidated sales.

 

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 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

 

 

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SigitaSales of Olainfarm in September Increase by 17%

Sales of Olainfarm in August Increase by 19%

on September 15, 2017

Preliminary consolidated results of Olainfarm for August 2017 show that sales of the group reached 8.04 million euros, which represents an increase by 19% compared to August of 2016. The biggest sales increase was achieved in Tajikistan, where sales grew by 349%. Sales to Germany grew by 110%; sales to Russia grew by 93%, sales to Belarus increased by 63%. Biggest sales reduction happened in Ukraine where sales shrunk by 49%. During August 2017, the Group also made significant shipments to Turkmenistan and The Netherlands. Major sales markets of the group during this period were Russia, Latvia and Belarus.

 

August 2017, consolidated sales Sales, thsnd. EUR Changes to August 2016 Share in total sales
Russia 2 633 93% 33%
Latvia 2 342 7% 29%
Belarus 807 63% 10%
Ukraine 493 -49% 6%
Kazakhstan 245 17% 3%
Uzbekistan 216 -28% 3%
Turkmenistan 194 NA 2%
Germany 159 110% 2%
The Netherlands 120 NA 1%
Tajikistan 101 349% 1%
Other 727 -37% 9%
Total 8 037 19% 100%

 

Sales of pharmacies of Latvijas Aptieka during August 2017 were 1.83 million euros, which represents an increase by 24% compared to August 2016. Sixty-eight pharmacies were operating during this period.  Sales of Silvanols during August were 0.38 million euros, which represents an increase by 6% compared to 2016.  In August 2017, Silvanols sold its products in seven European countries and, with the assistance from JSC Olainfarm to Kazakhstan, Belarus and Russia.  Sales of Tonus Elast during August 2017 reached .73 million euros, which represents a reduction by 4% compared to August 2016. Products of Tonus Elast were sold to 19 countries in three continents.

 

According to preliminary numbers, consolidated sales of Olainfarm group in eight months of 2017 reached 76.39 million euros, which represents an increase by 9% compared to eight months of 2016.  The biggest sales increase was achieved in The Netherlands, where sales grew by 236%.  Sales to Germany increased by 206%, sakes to Kazakhstan increased by 44% but sales to Italy increased by 43%. Biggest reduction of sales took place in Ukraine, where sales shrunk by 44%.  Major sales markets of Olainfarm group in eight months were Russia, Latvia, Belarus and Ukraine.

 

8 months of 2017, consolidated sales Sales, thsnd. EUR Changes to 8 months of 2016 Share in total sales
Russia 24 935 19% 33%
Latvia 19 306 17% 25%
Belarus 7 023 22% 9%
Ukraine 6 391 -44% 8%
The Netherlands 3 668 236% 5%
Kazakhstan 2 265 44% 3%
Uzbekistan 1 253 -28% 2%
Germany 1 176 206% 2%
Turkmenistan 1 023 -4% 1%
Italy 1 003 43% 1%
Other 8 347 -9% 11%
Total 76 390 9% 100%

 

Sales of pharmacies of Latvijas aptieka in eight months of 2017 were 13.8 million euros, which represents an increase by 12% compared to eight months of 2016. Sales of Silvanols during this period were 3.3 million euros, which represents an increase by 6% compared to eight months of 2016 when this company made sales of 3.1 million euros. Products of Silvanols were sold to twelve European countries and with the help from JSC Olainfarm to Lithuania, Russia, Azerbaijan, Belarus, Kazakhstan and Armenia.  Sales of Tonus Elast in eight months were 5.4 million euros and its products were sold to 37 countries in four continents.

 

According to unconsolidated preliminary results, sales of JSC Olainfarm in August 2017 were 6.07 million euros, which represents an increase by 24% compared to August of 2016. The biggest sales increase was achieved in Tajikistan, where sales grew by 349%. Sales to Germany increased by 112%, sale to Russia increased by 66%, sales to Kazakhstan increased by 65% but sales to Belarus increased by 61%.  The biggest sales reduction took place in Ukraine, where sales shrunk by 58%.  During August 2017, JSC Olainfarm also made significant shipments to Turkmenistan and The Netherlands. Major sales markets of JSC Olainfarm during this period were Russia, Latvia, Belarus and Ukraine. In august 2017, products of JSC Olainfarm were sold to 25 countries in two continents.

August 2017, unconsolidated sales Sales, thsnd. EUR Changes to August 2016 Share in total sales
Russia 2 267 66% 37%
Latvia 1 108 6% 18%
Belarus 778 61% 13%
Ukraine 402 -58% 7%
Uzbekistan 216 -28% 4%
Kazakhstan 200 65% 3%
Turkmenistan 194 NA 3%
Germany 155 112% 3%
The Netherlands 120 NA 2%
Tajikistan 101 349% 2%
Other 533 4% 9%
Total 6 074 24% 100%

 

According to preliminary unconsolidated results, sales of JSC Olainfarm in eight months of 2017 were 60.87 million euros, which represents and increase by 2% compared to the same period one year ago. The biggest sales increase during this period was achieved in The Netherlands, where sales increased by 249%, while sales to Germany increased by 207%.  Biggest sales reduction was experienced in Ukraine, where sales shrunk by 46%.  Major sales markets of JSC Olainfarm during these eight months were Russia, Latvia, Belarus and Ukraine.  In total during this eight months period JSC Olainfarm sold its products to 46 countries in five continents.

 

Eight months of 2017, unconsolidated sales Sales, thsnd. EUR Changes to 8 months of 2016 Share in total sales
Russia 22 691 10% 37%
Latvia 9 271 7% 15%
Belarus 6 929 21% 11%
Ukraine 6 207 -46% 10%
The Netherlands 3 668 249% 6%
Kazakhstan 1 654 24% 3%
Uzbekistan 1 253 -28% 2%
Germany 1 163 207% 2%
Turkmenistan 1 023 -4% 2%
Italy 953 36% 2%
Other 6 061 -13% 10%
Total 60 873 2% 100%

 

General meeting of shareholders of JSC 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 eight months of 2017 the company has met 63% of annual target for unconsolidated sales and 60% 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 40 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
Rūpnīcu iela 5, Olaine, Latvia, LV 2114
Phone: +371 6 7013 717
Fax: +371 6 7013 777
E-mail: Salvis.Lapins@olainfarm.lv

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Eva DombrovskaSales of Olainfarm in August Increase by 19%