For Investors

Olainfarm’s Sales in February are 8 Million Euros

on March 15, 2017

Preliminary consolidated results of JSC Olainfarm for February 2017 show that sales of the group have reached 8 million euros, which represents a reduction by 8% compared to the same period of 2016. The biggest sales increases were achieved in Georgia, where sales grew by 25% and in Russia, where sales grew by 23%. The biggest reduction in sales took place in Ukraine, where sales shrunk by 33% and in Lithuania, where sales were for 30% smaller this year. Significant shipments during this period were also made to Bulgaria, Moldova and Germany. The major sales markets of the group in February 2017 were Russia, Latvia, Ukraine and Belarus.

February 2017, consolidated sales Sales, thsnd. EUR Changes to February 2016 Share in total sales
Russia 2 617 23% 33%
Latvia 2 498 9% 31%
Ukraine 1 052 -33% 13%
Belarus 867 -6% 11%
Kazakhstan 137 -24% 2%
Bulgaria 114 NA 1%
Moldova 97 NA 1%
Lithuania 88 -30% 1%
Germany 86 NA 1%
Georgia 65 35% 1%
Other 385 -60% 5%
Total 8 006 -3% 100%

 

Sales by pharmacies of Latvijas aptieka Ltd. in February 2017 were 1.68 million euros, which represents a reduction by 3% compared to the same period one year ago. Sixty-eight pharmacies were operating during February. Sales of Silvanols Ltd. during February 2017 were .57 million euros, which is an increase by 21% compared to 2016. During this period, Silvanols Ltd. sold its products to six European countries and with assistance of JSC Olainfarm also to Belarus. Sales of Tonus Elast Ltd. in February were 0.77 million euros. This company sold its products to 17 countries in three continents.

During the first two months of 2017, the consolidated sales of the group reached 17.1 million euros, which represents an increase by 0.3% compared to consolidated sales of two months of 2016. The biggest sales increases were achieved in Georgia, where sales grew by 327% and in The Netherlands, where sales grew by 258%. The biggest reduction in sales took place in Ukraine, where sales shrunk by 42% and in Kazakhstan, where sales shrunk by 37%. The major sales markets of AS Olainfarm in two months of 2017 were Russia, Latvia, Belarus and Ukraine.

2 months of 2017, consolidated sales Sales, thsnd. EUR Changes to 2 months of 2016 Share in total sales
Russia 4 958 13% 29%
Latvia 4 949 13% 29%
Belarus 2 481 3% 14%
Ukraine 1 369 -42% 8%
The Netherlands 912 258% 5%
Poland 288 25% 2%
Germany 287 45% 2%
Lithuania 255 35% 1%
Kazakhstan 246 -37% 1%
Georgia 205 327% 1%
Other 1 165 -46% 7%
Total 17 116 0% 100%

 

Sales of pharmacies of Latvijas aptieka Ltd. in two months of 2017 were 3.4 million euros, which is comparable to their sales during the same period of 2016. Sales of Silvanols Ltd. during two months was 1.06 million euros, which represents an increase by 34% compared to two months of last year, when Silvanols’ sales were 0.79 million euros. Silvanols Ltd. sold its products to nine European countries, and, with the help of JSC Olainfarm, also to Russia and Belarus. Sales of Tonus Elast Ltd. in two months of 2017 were 0.94 million euros. This company made its sales to 21 countries in four continents.

According to unconsolidated preliminary results, sales of JSC Olainfarm during February 2017 were 6 million euros, which represents a reduction by 14% compared to the same period of 2016. The biggest sales increases were achieved in Azerbaijan, where sales grew by 67% and in Russia, where sales grew by 8%. The biggest sales reductions took place in Kazakhstan, where sales shrunk by 64% and in Lithuania, where sales shrunk by 39%. During February 2017, significant shipments were also made to Bulgaria, Germany and Moldova. The major sales markets during this period were Russia, Latvia, Ukraine and Belarus. In total JSC Olainfarm sold its products to 23 countries in Europe and Asia.

February, 2017, unconsolidated sales Sales, thsnd. EUR Changes to February, 2016 Share in total sales
Russia 2 288 8% 38%
Latvia 1 212 7% 20%
Ukraine 1 052 -30% 18%
Belarus 853 -8% 14%
Bulgaria 106 NA 2%
Germany 86 NA 1%
Lithuania 66 -39% 1%
Kazakhstan 65 -64% 1%
Moldova 55 NA 1%
Azerbaijan 41 67% 1%
Other 164 -83% 3%
Total 5 988 -14% 100%

 

According to unconsolidated preliminary results, sales of JSC Olainfarm in two months of 2017 were 13.7 million euros, which represents a reduction by 7% compared to the same period of 2016. The biggest sales increases were achieved in The Netherlands, where sales grew by 258% and in Georgia, where sales grew by 229%. The biggest sales reduction took place in Kazakhstan, where sales shrunk by 62% and in Ukraine, where sales shrunk by 40%. Biggest sales markets of JSC Olainfarm in two months of 2017 were Russia, Latvia, Belarus and Ukraine. In total in two months of 2017, JSC Olainfarm sold its products to 33 countries in four continents.

2 months of 2017, unconsolidated sales Sales, thsnd. EUR Changes to 2 months of 2016 Share in total sales
Russia 4 628 6% 34%
Latvia 2 491 7% 18%
Belarus 2 467 1% 18%
Ukraine 1 369 -40% 10%
The Netherlands 913 258% 7%
Germany 284 43% 2%
Poland 264 47% 2%
Lithuania 208 34% 2%
Georgia 159 229% 1%
Kazakhstan 150 -62% 1%
Other 792 -61% 6%
Total 13 725 -7% 100%

 

According to preliminary estimates, unconsolidated sales of JSC Olainfarm in 2017 might reach 96 million euros, while consolidated sales might reach 127 million euros. According to the preliminary sales numbers published here, during two months of 2017, the company has already made 14% of its unconsolidated sales estimate and 13% 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 40 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

 

Information prepared by:
Salvis Lapins
JSC Olainfa
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 DombrovskaOlainfarm’s Sales in February are 8 Million Euros

Recording of the Investor Conference Webinar about financial results of 2016

on March 8, 2017

On March 7, AS „Olainfarm” organized its Investor Conference Online Webinar. During the webinar the member of the management board of AS „Olainfarm” Salvis Lapiņš analyzed the financial results of fourth quarter 2016 and non-audited financial results of 12 months 2016, as well as informed about the other recent activities within the company.

The recorded “Olainfarm” webinar is available online: ej.uz/OLF_YE2016_video, and the presentation, demonstrated during the webinar, is available in the previously published company’s announcement: ej.uz/OLF_YE2016_PDF.

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 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 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
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 Investor Conference Webinar about financial results of 2016

Olainfarm holds Investor Conference Webinar about financial results of 2016

on March 7, 2017

AS „Olainfarm” invites shareholders, investors, mass media representatives and other stakeholders to join its investor conference webinar scheduled on March 7, 2017 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 AS “Olainfarm” latest activities and analyze the financial results of the fourth quarter 2016 and non-audited financial results of 12 months 2016. During the webinar Mr. Lapins will inform that the budgeted target for consolidated sales is 127 million euro, while consolidated net profit is budgeted at 15.5 million euro. Unconsolidated budgets are respectively at 96 million and 12.7 million. Mr. Lapins will also provide an update about the internal discussions in the company regarding the future dividend payout ratio, as currently ongoing discussions are about the payout ratio of 40% of company’s annual profit.

After the presentation investors are welcome to ask questions. Due to the limited webinar time, please send in your questions in advance till March 6 to e-mail: eva.dzerve@nasdaq.com.

The enclosed presentation will be shown during the webinar: Webinar Presentation: 4th quarter and the whole 2016

What is 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/OLF_YE2016.

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 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 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
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 DombrovskaOlainfarm holds Investor Conference Webinar about financial results of 2016

Olainfarm will hold Investor Conference Webinar about financial results of 2016

on March 2, 2017

AS „Olainfarm” invites shareholders, investors, mass media representatives and other stakeholders to join its investor conference webinar scheduled on March 7, 2017 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 AS “Olainfarm” latest activities and analyze the financial results of the fourth quarter 2016 and non-audited financial results of 12 months 2016.

After the presentation investors are welcome to ask questions. Due to the limited webinar time, please send in your questions in advance till March 6 to e-mail: eva.dzerve@nasdaq.com.

What is 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/OLF_YE2016.

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 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 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
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 DombrovskaOlainfarm will hold Investor Conference Webinar about financial results of 2016

Olainfarm Demonstrates Consolidated Record Sales, Board Proposes Dividends

on February 28, 2017

Consolidated profit and loss account of JSC Olainfarm for 2016 shows that with the sales of 111.2 million euros, the Group has set the new record sales. Last year the sales grew by 14% compared to 2015. Net profit in 2016 was 10.1 million euros, which is reduction by a third comparing to 2015, when the net profit was as high as 15.2 million. Profit of 2016 was very significantly influenced by provisions for receivables. The total of about 7 million euros were left for provisions.

Board of JSC Olainfarm proposed a dividend of 0.66 euros per share from the profit of Parent company for 2016. Should it be necessary, undistributed profits of other years may also be used. The Board proposes that dividends are paid in three equal installments at the ends of second, third and fourth quarter of 2017 respectively.

“2016 was important for Olainfarm not only because we acquired four new daughter companies, but also with the sales record we achieved as we surpassed the mark of 100 million. In order to raise our targets every year, we have to get stronger every year. Therefore we focus on integrating the daughter companies into our group, expand our product portfolio, strengthen our positions in existing markets and enter the new ones. We also keep searching for new acquisition targets in different pharma related sectors,” says Valerijs Maligins, Chairman of Olainfarm’s Board.

In terms of sales, fourth quarter of 2016 is again by far the best in corporate history. During the fourth quarter of 2016, sales volumes have increased by 27% compared to similar period of 2015 and reached 32.6 million euro. Profit during this quarter reached 2.3 million, which is a reduction by 13% compared to the fourth quarter of 2015. In fourth quarter alone provisions of 2.47 were made.

The biggest sales increase in 2016 was achieved in Uzbekistan, where sales increased by 65%. During 2016, compared to its nine months share of Russia in totals sales grew significantly (from 29% to 34%). This was facilitated by particularly large sales volumes to this country during the fourth quarter. Share of Ukraine has dropped by 3 percentage points during the same period. Shares of other markets have remained relatively unchanged. The biggest sales markets in 2016 were Russia, Latvia, Ukraine and Belarus.

During the reporting period, registration processes of several products has been successfully completed in Estonia, Kyrgyzstan, Azerbaijan, Turkmenistan, Ukraine, Mongolia, Armenia, Turkmenistan and Bosnia and Herzegovina. During the fourth quarter alone registration of ten products in five countries has been completed. Registration processes of a few more products have been started in Turkey.

Annual meeting of shareholders of JSC Olainfarm convened on June 7, 2016 approved operating plan of the Group for 2016. According to it, sales of the Group in 2016 are planned to be 100 million euros, but the net profit will reach 10 million euros. According to this unaudited report for 2016, during this period 111% of annual sales target and 101% of annual profit target is met.

Condensed Consolidated Statement of Financial Position Group
31.12.2016 31.12.2015
EUR ‘000 EUR ‘000
ASSETS
NON-CURRENT ASSETS
Intangible assets 31 859 20 591
Property, plant and equipment 40 946 35 579
Investment properties 2 200
Financial assets 6 244 4 917
TOTAL NON-CURRENT ASSETS 81 249 61 087
CURRENT ASSETS
Inventories 24 135 20 990
Receivables 36 455 30 480
Cash 3 166 5 574
TOTAL CURRENT ASSETS 63 756 57 044
TOTAL ASSETS 145 005 118 131
EQUITY AND LIABILITIES
EQUITY
Share capital 19 719 19 719
Share premium 2 504 2 504
Reserves 322 322
Retained earnings 72 581 65 773
Non-controlling interests 37 30
TOTAL EQUITY 95 163 88 348
LIABILITIES
Non-current liabilities
Borrowings 19 846 8 560
Deferred corporate income tax 2 685 1 947
Deferred income 2 810 2 656
Total Non-Current Liabilities 25 341 13 163
Current liabilities
Borrowings 5 974 4 258
Trade payables and other liabilities 18 034 11 562
Deferred income 493 800
Total Current Liabilities 24 501 16 620
TOTAL LIABILITIES 49 842 29 783
TOTAL EQUITY AND LIABILITIES 145 005 118 131

 

Consolidated statement of comprehensive income Group Group
Q4 2016 Q4 2015 12M 2016 12M 2015
EUR ‘000 EUR ‘000 EUR ‘000 EUR ‘000
Net revenue 32 600 25 531 111 275  97 392
Cost of goods sold (11 233) (8 727) (41 238)  (32 315)
Gross Profit 21 367 16 804 70 037 65 077
Selling expense (12 542) (8 121) (33 882) (28 202)
Administrative expense (5 767) (6 959) (19 346) (18 965)
Other operating income 1 028 2 355 2 951 2 715
Other operating expense (2 776) (297) (9 427) (1 957)
Share of profit of an associate 38 40 65 118
Income from investments in subsidiaries
Financial income 2 103 64 3 457 262
Financial expense (100) (1 196) (307) (1 404)
Profit Before Tax 3 351 2 690 13 548 17 644
Corporate income tax (719) 585 (3 350) (2 110)
Deferred corporate income tax (319) (91) (112) (245)
PROFIT FOR THE REPORTING PERIOD 2 313 3 184 10 086 15 289
Other comprehensive income for the reporting period
Total comprehensive income for the reporting period 2 313 3 184 10 086 15 289
Total comprehensive income attributable to:
The equity holders of the Parent Company 2 315 3 182 10 079 15 281
Non-controlling interests (2) 2 7 8
Basic and diluted earnings per share, EUR 0.16 0.23 0.72 1.08

 

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 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
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 Demonstrates Consolidated Record Sales, Board Proposes Dividends

Sales of Olainfarm in January Reach 9.15 Million Euro

on February 15, 2017

Preliminary consolidated results of JSC Olainfarm for January 2017 show that sales of the company during this period were 9.15 million euros, which represents an increase by 4% compared to the same period of 2016. The biggest sales increase was achieved in Georgia, where sales grew by 615%. Sales to Lithuania grew by 161%, but sales to Poland grew by 25%. Significant shipments were also made to The Netherlands. The biggest sales markets of JSC Olainfarm during January 2017 were Latvia, Russia, Belarus and The Netherlands.

January 2017, consolidated sales Sales, thsnd. EUR Changes to January 2016 Share in total sales
Latvia 2 467 16% 27%
Russia 2 341 4% 26%
Belarus 1 614 6% 18%
The Netherlands 880 NA 10%
Ukraine 344 -56% 4%
Poland 288 25% 3%
Germany 201 2% 2%
Lithuania 167 161% 2%
Georgia 140 615% 2%
Kazakhstan 108 -48% 1%
Other 602 -58% 7%
Total 9 152 4% 100%

Sales of pharmacy chain of Latvijas aptieka in January were 1.72 million euro, which represents an increase by 4% compared to January 2016. Sixty six pharmacies were operating during this period. Sales of Silvanols in January 2017 were 0.5 million euro, which represents an increase by 56% compared to the same period of 2016. Silvanols sold its products in eight European countries and with the help of JSC Olainfarm also to Lithuania, Russia, and Belarus. Sales of Tonus Elast during January 2017 were 0.17 million euros, and its products were sold to 12 countries in four continents.

According to unconsolidated preliminary results, sales of JSC Olainfarm in January 2017 were 7.78 million euro, which is comparable to the sales made during January 2016. The biggest sales increase was achieved in Georgia, where sales grew by 565%. Sales to Lithuania grew by 200%, sales to Poland grew by 47%. During this period, significant shipments were also made to The Netherlands and Argentina. The major sales markets of JSC Olainfarm during January 2017 were Russia, Belarus, Latvia and The Netherlands. During January 2017, JSC Olainfarm sold its products to 27 countries in four continents.

January 2017, unconsolidated sales Sales, thsnd. EUR Changes to January 2016 Share in total sales
Russia 2 341 4% 30%
Belarus 1 614 6% 21%
Latvia 1 294 9% 17%
The Netherlands 880 NA 11%
Ukraine 344 -56% 4%
Poland 265 47% 3%
Germany 198 0% 3%
Lithuania 142 200% 2%
Georgia 130 565% 2%
Argentina 86 NA 1%
Other 485 -69% 6%
Total 7 779 0% 100%

According to preliminary estimates, unconsolidated sales of JSC Olainfarm in 2017 might reach 94 million euros, while consolidated sales might reach 120 million euros. According to the preliminary sales numbers published here, during January 2017, the company has already made 8% of its unconsolidated sales estimate and 8% of its annual consolidated sales estimate.

 

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 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
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 January Reach 9.15 Million Euro

Sales of Olainfarm in 2016 Slightly Below 110 Million

on January 16, 2017

According to preliminary consolidated results of JSC Olainfarm for December 2016, sales of the Groups have reached 10.28 million euros, which represents an increase by 39% compared to December 2015. The biggest sales increase was achieved in Moldova, where sales grew by 13081%. Sales to Kazakhstan grew by 326%, sales to Kyrgyzstan grew by 207%, but sales to Azerbaijan grew by 171%.The biggest sales markets during this period were Russia, Latvia and The Netherlands.

December 2016, consolidated sales Sales, thsnd. EUR Changes to December 2015 Share in total sales
Russia 5 069 70% 49%
Latvia 2 726 20% 27%
The Netherlands 451 -9% 4%
Kazakhstan 285 326% 3%
Tajikistan 258 6% 3%
Kyrgyzstan 176 207% 2%
Azerbaijan 166 171% 2%
Moldova 137 13081% 1%
Georgia 133 36% 1%
Poland 121 -48% 1%
Other 756 -15% 7%
Total 10 278 39% 100%

 

Sales of chain of pharmacies of Latvijas aptieka during December 2016 were 1.65 million euros, which represents an increase by 2% compared to the same period one year ago. Sixty-five pharmacies were operating during December 2016. Sales of  Silvanols in December were 0.49 million euros, which represents a reduction by 6% compared to the same period of 2015. During December 2016, Silvanols sold its products in five European countries and with the help of JSC Olainfarm also to Lithuania, Kazakhstan, Belarus and Azerbaijan. Sales of Tonus Elast during December 2016 were 1.1 million euros, and the company sold its products in 24 countries in four continents. In December, Tonus Elast started exporting its products also to Morocco and Mongolia.

According to preliminary numbers, consolidated sales of JSC Olainfarm in 2016 were 109.97 million euros, which represents an increase by 12% compared to 2015. The most rapid sales increase was achieved in Uzbekistan, where sales grew by 65%. The biggest sales markets during this period were Russia, Latvia, Ukraine and Belarus.

2016, consolidates sales Sales, thsnd. EUR Changes to 2015 Share in total sales
Russia 37 577 13% 34%
Latvia 26 617 15% 24%
Ukraine 13 866 10% 13%
Belarus 7 378 18% 7%
Kazakhstan 3 194 36% 3%
The Netherlands 2 456 -56% 2%
Uzbekistan 2 207 65% 2%
UK 1 979 25% 2%
Poland 1 447 3% 1%
Lithuania 1 331 26% 1%
Other 11 917 28% 11%
Total 109 969 12% 100%

 

Sales of Latvijas aptieka in 12 months of 2016 were 18.7 million euros, which represents an increase by 11% compared to 12 months of 2015. Sales of Silvanols during this period was 5.34 million euros, which represents an increase by 21% compared to sales of 4.4 million euros, this company made during an entire 2015. Products of Silvanols were sold to fourteen European countries and with the help of JSC Olainfarm also to Albania, Kosovo, Azerbaijan, Kazakhstan, Belarus, Lithuania and Russia. Sales of Tonus Elast in seven months was 5.4 million euros and its products were sold in 33 countries in four continents.

According to unconsolidated preliminary results, sales of JSC Olainfarm in December 2016 were 7.87 million euros, which represents an increase by 34% compared to the same period one year ago. The biggest sales increase was achieved in Moldova, where sales grew by 8929%. Sales to Ukraine grew by 1063%, sales to Kazakhstan grew by 265% and sales to Kyrgyzstan grew by 133%. The major sales markets during this period were Russia, Latvia and The Netherlands. During December 2016, products of JSC Olainfarm were sold to 22 countries in four continents.

December 2016, unconsolidated sales Sales, thsnd. EUR Changes to December 2015 Share in total sales
Russia 4 714 58% 60%
Latvia 1 268 17% 16%
The Netherlands 451 -9% 6%
Kazakhstan 244 265% 3%
Tajikistan 242 21% 3%
Kyrgyzstan 134 133% 2%
Ukraine 105 1063% 1%
Moldova 94 8929% 1%
Poland 93 -34% 1%
Lithuania 89 31% 1%
Other 433 -42% 6%
Total 7 867 34% 100%

 

According to unconsolidated preliminary results, sales of JSC Olainfarm in 12 months of 2016 were 91.02 million euros, which represents an increase by 7% compared to the same period of 2015. The most rapid sales increase during this period was achieved in Uzbekistan, where sales grew by 65%, while sales to Lithuania grew by 34%. Major sales markets of JSC Olainfarm in 12 months were Russia, Ukraine, Latvia and Belarus. In total, during 2016, products of JSC Olainfarm were sold to 44 countries in 4 continents.

2016, unconsolidated sales Sales, thsnd. EUR Changes to 2015 Share in total sales
Russia 36 192 8% 40%
Ukraine 13 709 10% 15%
Latvia 13 532 9% 15%
Belarus 7 309 17% 8%
Kazakhstan 2 586 10% 3%
The Netherlands 2 456 -56% 3%
Uzbekistan 2 207 65% 2%
UK 1 858 17% 2%
Tajikistan 1 245 -1% 1%
Lithuania 1 116 34% 1%
Other 8 807 11% 10%
Total 91 017 7% 100%

 

 

AGM of JSC Olainfarm held on June 7, this year approved operating plan of the Company and the Group, providing that Company’s sales in 2016 will reach 86 million euros, while Group’s sales will reach 100 million euros. According to these preliminary sales numbers, Company’s sales target have been outperformed by 6% and Group’s sales targets have been outperformed by 10 %.

 

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
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 2016 Slightly Below 110 Million

Financial calendar of JSC Olainfarm for 2017

on January 9, 2017

JSC Olainfarm hereby informs that it will publish its financial reports on the following dates of 2017:

  • unaudited consolidated report for 12 months of 2016 on February 28, 2017;
  • unaudited consolidated report for 3 months of 2017 on May 31, 2017;
  • unaudited consolidated report for 6 months of 2017 on August 31, 2017;
  • unaudited consolidated report for 9 months of 2017 on November 30, 2017

Audited standalone and consolidated reports for 2016 will be published on April 27, 2017.

 

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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SigitaFinancial calendar of JSC Olainfarm for 2017

Sales of Olainfarm in 11 Months Reach 99.87 Million

on December 15, 2016

According to preliminary consolidated results of JSC Olainfarm for November 2016, sales of the company were 11.18 million euros, which represents an increase by 20% compared to the same period one year ago. The biggest sales increase was achieved in Georgia, where sales grew by 3564%. Sales to Tajikistan grew by 295%, sales to Kazakhstan grew by 191%, sales to Lithuania grew by 126% but sales to Poland grew by 101%. During November 2016, significant shipments were also made to Czech Republic. The biggest sales markets during this period were Russia, Latvia and Kazakhstan.

November 2016, consolidated sales Sales, thsnd. EUR Changes to November 2015 Share in total sales
Russia 5 309 48% 47%
Latvia 2 527 24% 23%
Kazakhstan 546 191% 5%
Ukraine 499 -74% 4%
Belarus 457 59% 4%
Tajikistan 339 295% 3%
Poland 217 101% 2%
Georgia 177 3564% 2%
Lithuania 163 126% 1%
Czech Rep. 134 NA 1%
Other 815 -21% 7%
Total 11 183 20% 100%

 

Sales of Latvijas aptieka in November were 1.61 million euros, which represents an increase by 11% compared to similar period one year ago. Sixty-four pharmacies were operating during this period. Sales of Silvanols during November 2016 were 0.64 million euros, which represents an increase by 10% compared to November 2015. During November, Silvanols made its sales in eight European countries and with assistance of JSC Olainfarm also to Albania, Kosovo, Belarus and Azerbaijan. Sales of Tonus Elast during November were 0.78 million euros, and the sales were made to 17 countries in three continents.

According to preliminary numbers, sales of JSC Olainfarm in 11 months were 99.78 million euros, which represents an increase by 11% compared to eleven months of 2015. The most rapid sales growth during this period was achieved in Uzbekistan where sales grew by 81%. Sales to Kazakhstan grew by 27%, Sales to the UK grew by 26% and sales to Lithuania grew by 23%. The biggest sales markets during this period were Russia, Latvia, Ukraine and Belarus.

11 months of 2016, consolidated sales Sales, thsnd. EUR Changes to 11 months of 2015 Share in total sales
Russia 32 508 7% 33%
Latvia 24 066 15% 24%
Ukraine 13 761 10% 14%
Belarus 7 320 18% 7%
Kazakhstan 2 909 27% 3%
Uzbekistan 2 207 81% 2%
The Netherlands 2 004 -61% 2%
UK 1 973 26% 2%
Poland 1 315 12% 1%
Lithuania 1 217 23% 1%
Other 10 594 34% 11%
Total 99 874 11% 100%

 

Sales of Latvijas aptieka in 11 months were 17.1 million euros, which represents an increase by 12% compared to similar period one year ago. Sales of Silvanols during eleven months were 4.9 million euros, which represents an increase by 26% compared to 11 months of 2015, when Silvanols’ sales were 3.9 million euros.   During 11 months, Silvanols made its sales in fourteen countries in Europe and Asia and with assistance of JSC Olainfarm also to Albania, Kosovo, Belarus, Kazakhstan, Lithuania, Russia and Azerbaijan. Sales of Tonus Elast during six months were 4.3 million euros, and the sales were made to 31 countries in four continents.

According to preliminary unconsolidated results for November 2016, sales of Olainfarm were 9.07 million euros, which represents an increase by 12% compared to the same period of 2015. The biggest sales increase was achieved in Georgia, where sales grew by 2415%. Sales to Tajikistan grew by 295%m sales to Kazakhstan grew by 159% but sales to Lithuania grew by 144%. During November JSC Olainfarm also made significant shipments to Poland. Major sales markets during this period were Russia, Latvia, Ukraine, Kazakhstan and Belarus. During November 2016 JSC Olainfarm made its sales in 32 countries in three continents, for the first time shipments were also made to Palestinian Territories.

November 2016, unconsolidated sales Sales, thsnd. EUR Changes to November 2015 Share in total sales
Russia 5 042 41% 56%
Latvia 1 259 20% 14%
Ukraine 478 -74% 5%
Kazakhstan 472 159% 5%
Belarus 457 59% 5%
Tajikistan 339 295% 4%
Lithuania 137 144% 2%
Uzbekistan 127 38% 1%
Georgia 122 2415% 1%
Poland 117 NA 1%
Other 521 -41% 6%
Total 9 071 12% 100%

 

According to preliminary unconsolidated results, sales of JSC Olainfarm in 11 months of 2016 were 83.16 million euros, which represents an increase by 4% compared to the same period one year ago. The biggest sales increase during this period was achieved in Uzbekistan, where sales grew by 81%. Sales to Lithuania grew by 34%, but sales to Turkmenistan grew by 23%. Major sales markets of JSC Olainfarm in 11 months of 2016 were Russia, Ukraine, Latvia and Belarus. In total in eleven months of 2016, JSC Olainfarm made sales in 44 countries in four continents.

11 months of 2016, unconsolidated sales Sales, thsnd. EUR Changes to 11 months of 2015 Share in total sales
Russia 31 478 4% 38%
Ukraine 13 604 9% 16%
Latvia 12 263 9% 15%
Belarus 7 272 18% 9%
Kazakhstan 2 342 2% 3%
Uzbekistan 2 207 81% 3%
The Netherlands 2 004 -61% 2%
UK 1 858 19% 2%
Turkmenistan 1 067 23% 1%
Lithuania 1 027 34% 1%
Other 8 040 8% 10%
Total 83 162 4% 100%

 

AGM of JSC Olainfarm held on June 7, this year approved operating plan of the Company and the Group, providing that Company’s sales in 2016 will reach 86 million euros, while Group’s sales will reach 100 million euros. According to these preliminary sales numbers, in eleven months of 2016 nearly 97% of planned annual Company’s sales and nearly 100% percent of planned annual Group’s sales have been attained.

 

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
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 11 Months Reach 99.87 Million

Recording of the Third Quarter 2016 Investor Conference Webinar

on December 9, 2016

On December 8 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 2016 and informed about other recent activities within the company. The sales forecast for 2016 have been adjusted to 9 MEUR instead of previously announced 10 MEUR.

The recorded JSC Olainfarm webinar is available online: http://ej.uz/OLF_Q3_2016_rec, and the presentation, demonstrated during the webinar, is available in the previously published company’s announcement: http://ej.uz/OLF_Q3_2016_PDF.

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 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
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 2016 Investor Conference Webinar