For Investors

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%

Recording of the Second Quarter 2017 Investor Conference Webinar

on September 13, 2017

On September 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 second quarter 2017 and informed about the other recent activities within the company.

The recorded JSC Olainfarm webinar is available online: ej.uz/OLF_Q22017_rec, and the presentation, demonstrated during the webinar, is available in the previously published company’s announcement: ej.uz/OLF_Q22017_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 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 Second Quarter 2017 Investor Conference Webinar

Olainfarm Holds a Webinar and Announces Updated Profit Forecasts

on September 11, 2017

JSC Olainfarm invites shareholders, investors, mass media representatives and other stakeholders to join its investor conference webinar scheduled on September 11, 2017 at 16:00 (EEST). 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 second quarter 2017. After the presentation investors are welcome to ask questions.

Among other things, Mr Lapiņš will inform about the updated profit forecast for 2017 for the Company and the Group. The management now expects that unconsolidated profit of Olainfarm will reach 11 million euros, while consolidated profit will be around 13.5 million euros. These projections are based on assumption that foreign exchange fluctuations will not leave any important impact on profitability.

The attached presentation will be presented during the webinar: Webinar Presentation: 2nd quarter of 2017

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/OLF_2017Q2.

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 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

read more
SigitaOlainfarm Holds a Webinar and Announces Updated Profit Forecasts

Olainfarm will hold Second Quarter 2017 Investor Conference Webinar

on September 5, 2017

JSC Olainfarm invites shareholders, investors, mass media representatives and other stakeholders to join its investor conference webinar scheduled on September 11, 2017 at 16:00 (EEST). 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 second quarter 2017.

After the presentation investors are welcome to ask questions. Due to the limited webinar time, please send in your questions in advance until September 10 to e-mail: eva.dzerve@nasdaq.com.

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/OLF_2017Q2.

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 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

read more
Eva DombrovskaOlainfarm will hold Second Quarter 2017 Investor Conference Webinar

Consolidated Sales of Olainfarm in Six Months Exceed 62 Million

on August 31, 2017

Unaudited consolidated Income Statement of JSC Olainfarm for first six months of 2017 shows that the sales of the Group have reached 62.7 million euros, which represents an increase by 17% compared to the same period of 2016. This makes it yet another best half-year in corporate history in terms of sales. The net profit of 6 months was 5.7 million euros, which represents a reduction by 7% compared to the first half of 2016. Sales costs in 6 months of 2017 have increased by 4 million, and foreign exchange fluctuations caused another million euros loss. The major sales markets of JSC Olainfarm during this period were Russia, Latvia, Belarus and Ukraine.

Second quarter of 2017 has, in terms of sales, been the best quarter in corporate history as sales during this period have increased by 25% and reached 34.1 million. Main contributors to such growth have been significant shipments of PASA to The World Health Organization and serious sales increases in Latvia and Uzbekistan.

During the first six months period of 2017, sales to all major markets of JSC Olainfarm continued increasing, except Ukraine, where they shrunk by 40%, and Uzbekistan, where they shrunk by 21%. Significant sales increases have been achieved to The Netherland, where sales grew by 600%, Italy (by 56%) and Kazakhstan (by 55%). During the first six months of 2017 products of JSC Olainfarm were sold to 41 countries in five continents.

Two best selling Olainfarm products during this period were CNS medicines Neiromidin and Noofen. Compared to the last year, share of products of soluble furaginum in total sales has slightly increased, while share of Adaptol has decreased from 14% to 11%. Remantadin has again made it to top ten best selling products of Olainfarm.

During the reporting period, registration processes were completed in Armenia, Albania and Azerbaijan. Registration processed have been started in Nepal and continued in Turkey, Armenia, Myanmar, Cameroon and Vietnam. Registration of medicines produced by NPK Biotest are started in Belarus. Parent company itself has submitted one more dossier in Turkey and is soon expected to launch several painkilling and anti-inflammatory 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. According to this unaudited report for first half of 2017, during the first six months 49.3% of annual sales target and 36.8% of annual profit target is met. Taking into account a considerable deviation in schedule to achieving the profit target, the Board will soon decide on reviewing Groups profit Target.

Condensed Consolidated Statement of   Financial Position Group
30.06.2017 31.12.2016
EUR ‘000 EUR ‘000
     ASSETS
NON-CURRENT ASSETS
Intangible assets          37 917          31 860
Property, plant and equipment          41 857          40 943
Investment properties            1 963            1 963
Financial assets            4 725            6 514
TOTAL NON-CURRENT ASSETS          86 462          81 280
CURRENT ASSETS
Inventories          25 145          24 011
Receivables          36 579          36 124
Cash            4 900            3 165
TOTAL CURRENT ASSETS          66 624          63 300
TOTAL ASSETS        153 086        144 580
EQUITY AND LIABILITIES
EQUITY
Share capital          19 719          19 719
Share premium            2 504            2 504
Reserves                  40                322
Retained earnings          70 760          74 081
Non-controlling interests                  39                  37
TOTAL EQUITY          93 062          96 663
LIABILITIES
Non-current liabilities
Borrowings          20 152          18 800
Deferred corporate income tax            3 208            3 025
Deferred income            2 584            2 810
Total Non-Current Liabilities          25 944          24 635
Current liabilities
Borrowings            8 255            7 020
Trade payables and other liabilities          25 337          15 769
Deferred income                488                493
Total Current Liabilities          34 080          23 282
TOTAL LIABILITIES          60 024          47 917
TOTAL EQUITY AND LIABILITIES        153 086        144 580

 

Consolidated statement of comprehensive income Group Group
Q2 2017 Q2 2016 M6 2017 M6 2016
EUR ‘000 EUR ‘000 EUR ‘000 EUR ‘000
34 148 27 387 62 719 53 517
Net revenue (12 467) (10 412) (23 930) (20 320)
Cost of goods sold 21 681 16 975 38 789 33 197
Gross Profit (10 606) (7 779) (18 631) (14 624)
Selling expense (6 035) (4 584) (11 449) (9 050)
Administrative expense 572 891 1 021 1 496
Other operating income (855) (2 496) (1 598) (4 251)
Other operating expense 28 22 60 39
Share of profit of an associate 79 1 042 156 1 299
Financial income (2 319) (69) (1 340) (109)
Financial expense 2 545 4 002 7 008 7 997
Profit Before Tax (569) (1 081) (1 408) (2 095)
Corporate income tax 49 82 103 214
Deferred corporate income tax 2 025 3 003 5 703 6 116
PROFIT FOR THE REPORTING PERIOD
Other comprehensive income for the reporting period 2 025 3 003 5 703 6 116
Total comprehensive income for the reporting period
Total comprehensive income attributable to: 2 028 3 003 5 701 6 111
The equity holders of the Parent Company (3) 2 5
Non-controlling interests
0.14 0.21 0.40 0.43
Basic and diluted earnings per share, EUR

 

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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SigitaConsolidated Sales of Olainfarm in Six Months Exceed 62 Million

Seven Months Sales of Olainfarm Increase by 7%

on August 15, 2017

Preliminary consolidated results of JSC Olainfarm for July 2017 show that the sales have reached 8.67 million euros, which represents a reduction by 14% compared to July 2016. The biggest sales increase was achieved in Moldova, where sales grew by 2825%. Sales to Germany increased by 362%, and sales to France increased by 343%. The biggest sales reductions took place in Ukraine, where sales shrunk by 68%, Poland, where sales shrunk by 59% and Uzbekistan, where sales shrunk by 58%. Major sales markets of Olainfarm group during July 2017 were Russia Latvia and Belarus.

 

July 2017, consolidated sales Sales, thsnd. EUR Changes to July 2016 Share in total sales
Russia 3 862 8% 45%
Latvia 2 096 8% 24%
Belarus 617 9% 7%
Ukraine 483 -68% 6%
Kazakhstan 410 30% 5%
Germany 225 362% 3%
Uzbekistan 117 -58% 1%
France 114 343% 1%
Poland 94 -59% 1%
Moldova 71 2825% 1%
Other 581 -63% 7%
Total 8 670 -14% 100%

 

Sales of pharmacy chain of Latvijas aptieka in July 2017 reached 1.62 million euros, which represents an increase by 17% compared to the same period of 2016. Sixty-eight pharmacies were operating during this period. Sales of Silvanols during this period were 0.23 million euros, which represents a reduction by 28% compared to July 2016. In July 2017 Silvanols made sales to five European countries, including first ever shipments to France. Sales of Tonus Elast during July 2017 were 0.81 million euros, which represents an increase by 56% compared to the same period of last year. Sales were made to 21 countries in two continents.

 

In seven months of 2017, according to preliminary consolidated numbers, sales of JSC Olainfarm reached 67.9 million euros, which represents an increase by 7% compared to seven months of 2016. The biggest sales increase was achieved in Germany, where sales increased by 406%. Sales to The Netherlands increased by 225%, sales to Kazakhstan increased by 49%, but sales to Italy increased by 43%. The biggest sales reduction took place in Ukraine, where sales shrunk by 44%. Major sales markets of Olainfarm group in seven months of 2017 were Russia, Latvia, Belarus and Ukraine.

 

7 months of 2017, consolidated sales Sales, thsnd. EUR Changes to 7 months of 2016 Share in total sales
Russia 22 302 14% 33%
Latvia 16 545 13% 24%
Belarus 6 216 18% 9%
Ukraine 5 897 -44% 9%
The Netherlands 3 548 225% 5%
Kazakhstan 2 020 49% 3%
Uzbekistan 1 037 -28% 2%
Germany 1 018 406% 1%
Italy 1 002 43% 1%
Poland 970 3% 1%
Other 7 340 -6% 11%
Total 67 895 7% 100%

 

Sales of pharmacy chain of Latvijas aptieka in seven months of 2017 reached 11.9 million euros, which represents an increase by 10% compared to the same period of 2016. Sales of Silvanols during this period reached 3 million euros, which represents an increase by 11% compared to seven months of 2016. Silvanols sold its products to ten European countries and with the help of JSC Olainfarm also to Lithuania, Russia, Azerbaijan, Belarus and Armenia. Sales of Tonus Elast in 7 months reached 4.7 million euros and its products were sold to 35 countries in four continents.

 

According to unconsolidated preliminary results, sales of JSC Olainfarm in July 2017 reached 6.8 million euros, which represents a reduction by 20% compared to July of 2016. The biggest sales increase was achieved in Germany, where sales grew by 385%, but the biggest sales reduction took place in Ukraine, where sales shrunk by 68%. Sales to Poland shrunk by 60%, but sales to Uzbekistan shrunk by 58%. Significant shipments during this period have also been made to Mongolia. Major sales markets of JSC Olainfarm during July 2017 were Russia, Latvia, Belarus and Ukraine. During July 2017, products of JSC Olainfarm were sold to 24 countries in Europe and Asia.

July 2017, unconsolidated sales Sales, thsnd. EUR Changes to July 2016 Share in total sales
Russia 3 653 9% 54%
Latvia 1 027 17% 15%
Belarus 617 9% 9%
Ukraine 483 -68% 7%
Kazakhstan 252 -2% 4%
Germany 225 385% 3%
Uzbekistan 118 -58% 2%
Poland 93 -60% 1%
Mongolia 50 NA 1%
Lithuania 43 -35% 1%
Other 239 -82% 4%
Total 6 800 -20% 100%

 

According to unconsolidated preliminary results, sales of JSC Olainfarm in seven months of 2017 reached 54.8 million euros, which is comparable to seven months of 2016. The biggest sales increases during this period were achieved in Germany, where sales grew by 408% and The Netherlands, where sales grew by 225%. The biggest sales reduction in seven months of 2017 took place in Ukraine, where sales shrunk by 44%. Major sales markets of JSC Olainfarm during this period were Russia, Latvia Belarus and Ukraine. In total, in 7 months of 2017, products of JSC Olainfarm were sold to 43 countries in five continents.

 

7 months of 2017, unconsolidated sales Sales, thsnd. EUR Changes to 7 months of 2016 Share in total sales
Russia 20 424 6% 37%
Latvia 8 164 7% 15%
Belarus 6 151 17% 11%
Ukraine 5 805 -44% 11%
The Netherlands 3 548 225% 6%
Kazakhstan 1 454 20% 3%
Uzbekistan 1 037 -28% 2%
Germany 1 008 408% 2%
Italy 952 36% 2%
Turkmenistan 829 -22% 2%
Other 5 428 -16% 10%
Total 54 800 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 seven months of 2017 the company has met 57% of annual target for unconsolidated sales and 53% 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 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 DombrovskaSeven Months Sales of Olainfarm Increase by 7%

Sales of Olainfarm in Six Months Increase by 11%

on July 17, 2017

Preliminary consolidated results of JSC Olainfarm for June 2017 show that company’s sales have reached 10.11 million euros, which represents an increase by 8% compared to the same period of 2016. The biggest sales increase has been achieved in Turkmenistan, where sales grew by 1206%. Sales to Italy increased by 296%, sales to Kazakhstan increased by 103%, sales to Poland increased by 78%, but sales to Belarus increased by 60%. During June 2017, significant shipments also were made to Uzbekistan and The Netherlands. The biggest sales reduction took place in Ukraine, where sales shrunk by 38%. Major sales markets of Olainfarm group in June 2017 were Russia, Latvia, Ukraine and Belarus.

June 2017, consolidated sales Sales, thsnd. EUR Changes to June, 2016 Share in total sales
Russia 2 688 -8% 27%
Latvia 2 207 2% 22%
Ukraine 1 071 -38% 11%
Belarus 1 027 60% 10%
Kazakhstan 622 103% 6%
Uzbekistan 407 NA 4%
Poland 317 78% 3%
Turkmenistan 215 1206% 2%
The Netherlands 196 NA 2%
Italy 153 296% 2%
Other 1 213 -10% 12%
Total 10 116 8% 100%

 

Sales of pharmacy chain of Latvijas aptieka in June 2017 reached 1.79 million euros, which represents an increase by 21% compared to sales in June 2016. During the month of June 67 pharmacies were operating. Sales of Silvanols in June shrunk by a third to 0.29 million euros. During June 2016, Silvanols sold its products to five European countries and with the help of JSC Olainfarm also to Kazakhstan, Belarus and Armenia. Sales of Tonus Elast in June 2017 reached 0.8 million euros, which represents a reduction by 6% compared to the same period of 2016, products of this company were sold to 21 countries in four continents.

In six months of 2017, according to preliminary numbers, consolidated sales of JSC Olainfarm reached 59.16 million euros, which represents an increase by 11% compared to six months of 2016. The biggest sales increase was achieved in The Netherlands, where sales grew by 600%. Sales to Italy increased by 56%, but sales to Kazakhstan increased by 55%. The biggest sales reduction during this period took place in Ukraine, where sales volumes contracted by 40%. Major sales markets of Olainfarm group during these six months were Russia, Latvia, Belarus and Ukraine.

6 months of 2017, consolidated sales Sales, thsnd. EUR Changes to six months of 2016 Share in total sales
Russia 18 440 15% 31%
Latvia 14 387 13% 24%
Belarus 5 599 19% 9%
Ukraine 5 414 -40% 9%
The Netherlands 3 527 600% 6%
Kazakhstan 1 610 55% 3%
Italy 978 56% 2%
Uzbekistan 920 -21% 2%
Poland 877 24% 1%
Lithuania 838 21% 1%
Other 6 573 4% 11%
Total 59 163 11% 100%

 

Sales of pharmacy chain of Latvijas aptieka in six months of 2017 reached 10.3 million euros, which represents an increase by 10% compared to six months of 2016. Sales of Silvanols in six months of 2017 reached 2.74 million euros, which represents an increase by 15% compared to six months of 2016. Silvanols made its sales to nine European countries during this period, and with the help of JSC Olainfarm, also to Lithuania, Russia, Azerbaijan, Belarus and Armenia. Sales of Tonus Elast in six months reached 3.9 million euros, and products of this company were sold to 35 countries in four continents.

According to preliminary unconsolidated numbers, sales of JSC Olainfarm in June 2017 reached 8.22 million euros, which represents an increase by 11%, compared to the same period of 2016. The biggest sales increase was achieved in Turkmenistan, where sales increased by 1206%. Sales to Italy grew by 296%, sales to Kazakhstan increased by 125%, sales to Poland grew by 80%, but sales to Belarus increased by 60%. During June 2016, significant shipments were also made to Uzbekistan and The Netherlands. The biggest reduction of sales during this period took place in Ukraine, where sales shrunk by 38%. The biggest sales markets during this period were Russia, Latvia, Ukraine and Belarus. In total, during June 2017, products of JSC Olainfarm were sold to 28 countries in three continents.

June 2017, unconsolidated sales Sales, thsnd. EUR Changes to June, 2016 Share in total sales
Russia 2 336 -15% 28%
Latvia 1 112 9% 14%
Ukraine 1 071 -38% 13%
Belarus 1 013 60% 12%
Kazakhstan 503 125% 6%
Uzbekistan 407 NA 5%
Poland 253 80% 3%
Turkmenistan 215 1206% 3%
The Netherlands 196 NA 2%
Italy 153 296% 2%
Other 961 11% 12%
Total 8 220 11% 100%

 

According to preliminary unconsolidated results, sales of JSC Olainfarm in six months of 2017 reached 48 million euros, which represents an increase by 4% compared to the same period of 2016. The biggest sales increase during this six months period was achieved in The Netherlands, where sales increased by 600%. Sales to Germany grew by 202%, but sales to Italy by 51%. Biggest sales reduction in six months period took place in Ukraine, where sales shrunk by 40%. Biggest sales markets of JSC Olainfarm during this period were Russia, Latvia, Belarus Ukraine and The Netherlands. In total, during the first six months of 2017, JSC Olainfarm sold its products to 41 countries in five continents.

6 months of 2017, unconsolidated sales Sales, thsnd. EUR Changes to 6 months of 2016 Share in total sales
Russia 16 771 6% 35%
Latvia 7 136 5% 15%
Belarus 5 534 18% 12%
Ukraine 5 322 -40% 11%
The Netherlands 3 527 600% 7%
Kazakhstan 1 202 25% 3%
Italy 945 51% 2%
Uzbekistan 920 -21% 2%
Turkmenistan 805 -15% 2%
Germany 783 202% 2%
Other 5 055 -8% 11%
Total 48 000 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 six months of 2017 the company has met 50% of annual target for unconsolidated sales and 46% 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 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 Six Months Increase by 11%

Olainfarm holds First Quarter 2017 Investor Conference Webinar

on June 28, 2017

JSC Olainfarm invites shareholders, investors, mass media representatives and other stakeholders to join its investor conference webinar scheduled on June 28, 2017 at 16:00 (EEST). 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 first quarter 2017.

During the webinar the enclosed presentation will be presented: webinarjune17

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_2017Q1.

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 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 holds First Quarter 2017 Investor Conference Webinar