News

Sales of Olainfarm Grow by 54% in July

on August 15, 2011

Preliminary sales figures of JSC Olainfarm for July 2011 show that the sales of the company have increased by 54% compared to similar period a year earlier and have reached 2.7 million lats (3.8 million euros). Most rapid increases in sales were experienced in Ukraine, where the sales of July 2011 exceeds that of July 2010 4 times, sales to Moldova have increased by 146%, to Latvia by 92%, Russia by 75%. In July this year the company has started sales to Albania. Major sales markets of JSC Olainfarm in July 2011 were Russia, Ukraine, Belarus and Latvia.

% of total sales Changes to July 2010
Russia 43,7% 74,9%
Ukraine 36,6% 300,0%
Belarus 7,2% -3,1%
Latvia 5,2% 91,7%
Lithuania 1,9% NA
Kazakhstan 1,4% -54,3%
Moldova 1,1% 145,5%
Albania 0,9% NA
Italy 0,7% NA
Azerbaijan 0,5% -15,8%
Other 0,9% -94,7%
Total 100,0% 53,5%

 

During seven months of 2011 the preliminary sales of JSC Olainfarm were 20.7 million lats (29.5 million euros) which represents an increase by 45% compared to the similar period last year. The most rapid growth was experienced in Canada, where sales grew by 36 times, The Netherlands by 9 times, Uzbekistan and Ukraine by 134%, Moldova by 85% and Latvia by 53%.  Major sales markets of JSC Olainfarm during 7 months were Russia, Ukraine, Belarus, Latvia, Kazakhstan and the UK.

% of total sales Change to 7 months of 2010
Russia 39% 28%
Ukraine 25% 134%
Belarus 8% 12%
Latvia 6% 53%
Kazakhstan 5% 8%
UK 4% 0%
Uzbekistan 2% 134%
The Netherlands 2% 807%
Moldova 1% 85%
Canada 1% 3529%
Other 7% 11%
Total 100% 45%

 

Operating plan and budget of JSC Olainfarm for 2011 provides that company plans the sales of 29.4 million lats (41.8 million Euro) and the net profit of 5.1 million lats (7.3 million Euro). According to preliminary sales figures published herein, in 7 months of 2011 the company has made 70% of sales planned for the entire 2011.

 

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
Member of the Board
JSC Olainfarm
Tel: +371 6 7013 717
Cell: +371 2 6448 873
E-mail: slapinsh@olainfarm.lv

SigitaSales of Olainfarm Grow by 54% in July