News

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

 

Share this post:
SigitaSales of Olainfarm Last Year Increased by at Least 4%