On March 6 JSC Olainfarm organized its fourth quarter 2012 Investor Conference Online Webinar for investors. During the webinar the member of the management board of JSC Olainfarm Salvis Lapiņš analysed the financial results of fourth quarter and full year of 2012 and informed about the company’s future activities.
As Salvis Lapiņš informed during the webinar JSC Olainfarm Board intends to increase the dividend pay-out ratio by 2.5 percentage points every year in coming years, if possible. The Board intends to propose such approach to shareholders until the pay-out ratio reaches 25%. Taking into account the non-audited financial results of 2012, the dividends for the year 2012 could reach 0.10 LVL (0.14 EUR) per share.
Also, Salvis Lapiņš informed that currently JSC Olainfarm already owns 45 pharmacies in Latvia and the plan to increase the number till 50 is still valid.
Answering the questions sent in by the investors, Salvis Lapiņš reminded that the company has signed an Agreement On Project Implementation with Latvian Investment and Development Agency (LIDA), according to which JSC Olainfarm willl make high value-added investments into production of nitrofuranes and 35% of the eligible project costs will be funded by LIDA. Total cost of the project is 5.88 million lats and the completion is scheduled in 2015. During 2013 it is planned to invest 3-3.2 million lats (4.3-4.5 million EUR) from the total sum of the project.
The recorded Olainfarm webinar is available online: http://ej.uz/OLFQ4_rec, and the presentation, demonstrated during the webinar, can be found in the previously published JSC Olainfarm announcement: https://newsclient.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=545057&messageId=671769.
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 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:
Member of the Board
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