For Investors

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

Olainfarm holds Third Quarter 2016 Investor Conference Webinar

on December 8, 2016

JSC Olainfarm invites shareholders, investors, mass media representatives and other stakeholders to join its investor conference webinar scheduled on December 8, 2016 at 16:00 (EET). Please note that attendees have to register for the webinar in advance – detailed information on the registration process is available 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 activities and financial results of third quarter of 2016.

After the presentation investors are welcome to ask questions.

The enclosed presentation will be shown during the webinar: Webinar Presentation: 3rd quarter and 9 months of 2016

Registration process
To follow the webinar, you will need a computer with an internet connection and headphones. To join the webinar, you need to register in advance via http://ej.uz/OLF_Q3_2016.

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.

What is a corporate webinar?
A corporate webinar is a virtual conference, during which a company’s representative provides information about the company, its activities and future plans. A webinar provides an opportunity to receive information directly from the company while being located anywhere, as well as to receive answers to questions of interest to you. For more information on webinar service please visit: 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 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

read more
Eva DombrovskaOlainfarm holds Third Quarter 2016 Investor Conference Webinar

Olainfarm will hold Third Quarter 2016 Investor Conference Webinar

on December 5, 2016

JSC Olainfarm invites shareholders, investors, mass media representatives and other stakeholders to join its investor conference webinar scheduled on December 8, 2016 at 16:00 (EET). Please note that attendees have to register for the webinar in advance – detailed information on the registration process is available 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 activities and financial results of third quarter of 2016.

After the presentation investors are welcome to ask questions. Due to the limited webinar time, please send in your questions in advance till December 7 to e-mail: eva.dzerve@nasdaq.com.

Registration process
To follow the webinar, you will need a computer with an internet connection and headphones. To join the webinar, you need to register in advance via http://ej.uz/OLF_Q3_2016.

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.

What is a corporate webinar?
A corporate webinar is a virtual conference, during which a company’s representative provides information about the company, its activities and future plans. A webinar provides an opportunity to receive information directly from the company while being located anywhere, as well as to receive answers to questions of interest to you. For more information on webinar service please visit: 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 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

read more
SigitaOlainfarm will hold Third Quarter 2016 Investor Conference Webinar

Sales of Olainfarm in Nine Months Reached 78.7 Million Euros

on November 30, 2016

Unaudited income statement of JSC Olainfarm for nine months of 2016 shows that with sales of 78.7 million euros, the group has experienced its best nine months in terms of sales. Sales have increased by 9% compared to the same period of 2015. Profit of JSC Olainfarm during this period was 7.8 million euros, whish represents a reduction by 36% compared to 2015. Major sales markets during this period were Russia, Latvia, Ukraine and Belarus

This third quarter was also the best third quarter in corporate history, as the sales reached 25.2 million euros, whish represents an increase by 15% compared to the third quarter of 2015. The net profit of the third quarter was 1.66 million euros, which is by 41% less than during the third quarter of 2015. The profit was adversely influenced by provisions of 2.2 million euros for Ukrainian and Russian receivables and for potential value impairment of investments in Belarussian company NPK Biotest.

„Success of Olainfarm in the near future will to a large extent depend on how well will we diversify our sales markets and products and how good we will be at maintaining our existing positions. Therefore we continue with registration of products in existing and new markets and acquire pharma related companies, which help us expand our exports geographically. Within the next two years we will have to integrate acquired companies into our group, in order to use all opportunities provided by joint administrative, marketing and logistics structure,” says Salvis Lapins, Member of Olainfarm’s Board.

During the first nine months of 2016, sales to most of Company’s key markets continued growing, except Russia, where they fell by 7% compared to nine months of 2015, and The Netherlands, when they fell by as much as 67% during the same period. It should be noted, however, that partially shipments previously made to WHO in The Netherlands this year were shipped directly to Ukraine, thus increasing Ukrainian sales. The biggest sales increases were achieved in Uzbekistan (+72%), Turkmenistan and Ukraine (+38% each) and the UK (+24%). In total in nine months, products of JSC Olainfarm were sold to 39 countries in four continents.

During the nine months period, registration processes continued in Turkey, Armenia, Russia, Kazakhstan, Lithuania, Moldova, Bosnia and Herzegovina, Myanmar, Cameroon and Vietnam. Registration of several products has been successfully completed in Estonia, Kyrgyzstan, Azerbaijan, Turkmenistan, Bosnia and Herzegovina. During the third quarter registration of tree food supplements have been completed in Lithuania.

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 unaudited report for 9 months of 2016, during this period 79% of annual sales target and 78% of annual profit target is met.

 

Condensed Consolidated Statement of Financial Position Group
30.09.2016. 31.12.2015.
EUR ‘000 EUR ‘000
     ASSETS
NON-CURRENT ASSETS
Intangible assets 28 390 20 591
Property, plant and equipment 38 897 35 579
Financial assets 7 122 4 917
TOTAL NON-CURRENT ASSETS 74 409 61 087
CURRENT ASSETS
Inventories 22 989 20 990
Receivables 32 441 30 480
Cash 7 794 5 574
TOTAL CURRENT ASSETS 63 224 57 044
TOTAL ASSETS 137 633 118 131
           EQUITY AND LIABILITIES
EQUITY
Share capital 19 719 19 719
Share premium 2 504 2 504
Reserves 322 322
Retained earnings 70 988 65 773
Non-controlling interests 39 30
TOTAL EQUITY 93 572 88 348
LIABILITIES
Non-current liabilities
Borrowings 18 201 8 560
Deferred corporate income tax 2 303 1 947
Deferred income 2 927 2 656
Total Non-Current Liabilities 23 431 13 163
Current liabilities
Borrowings 7 979 4 258
Trade payables and other liabilities 12 176 11 562
Deferred income 475 800
Total Current Liabilities 20 630 16 620
TOTAL LIABILITIES 44 061 29 783
TOTAL EQUITY AND LIABILITIES 137 633 118 131

 

Consolidated statement of comprehensive income Group Group
Q3 2016 Q3 2015 9M 2016 9M 2015
EUR ‘000 EUR ‘000 EUR ‘000 EUR ‘000
Net revenue 25 158 21 792 78 675 71 861
Cost of goods sold (9 685) (7 346) (30 005) (23 588)
Gross Profit 15 473 14 446 48 670 48 273
Selling expense (6 716) (6 638) (21 340) (20 081)
Administrative expense (4 529) (3 704) (13 579) (12 006)
Other operating income 427 1 371 1 923 2 307
Other operating expense (2 400) (272) (6 651) (3 607)
Share of profit of an associate (12) (17) 27 78
Income from investments in subsidiaries
Financial income 55 69 1 354 198
Financial expense (98) (2 226) (207) (208)
Profit Before Tax 2 200 3 029 10 197 14 954
Corporate income tax (536) (185) (2 631) (2 695)
Deferred corporate income tax (7) (19) 207 (154)
PROFIT FOR THE REPORTING PERIOD 1 657 2 825 7 773 12 105
Other comprehensive income for the reporting period
Total comprehensive income for the reporting period 1 657 2 825 7 773 12 105
Total comprehensive income attributable to:
The equity holders of the Parent Company 1 653 2 823 7 764 12 099
Non-controlling interests 4 2 9 6
Basic and diluted earnings per share, EUR 0.12 0.20 0.55 0.86

 

olainfarm_ill_2016_consolidated-fs_eng

 

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

read more
SigitaSales of Olainfarm in Nine Months Reached 78.7 Million Euros

Sales of Olainfarm in October grow by 22%

on November 15, 2016

According to preliminary consolidated results of JSC Olainfarm for October 2016, sales of the group have reached 10.18 million euros, which represents an increase by 22% compared to the same period one year ago. The biggest sales increase was achieved in Uzbekistan, where sales grew by 220%. Sales to Russia grew by 94% but sales to Kyrgyzstan grew by 71%. During October, JSC Olainfarm also made significant shipments to The Netherlands, Germany and Georgia. Biggest sales markets during October were Russia, Latvia and Ukraine.

October 2016, consolidated sales Sales, thsnd. EUR Changes to October 2015 Share in total sales
Russia 4 210 94% 41%
Latvia 2 340 9% 23%
Ukraine 1 113 -39% 11%
Belarus 547 -24% 5%
The Netherlands 360 NA 4%
Kazakhstan 340 -4% 3%
Uzbekistan 300 220% 3%
Germany 280 NA 3%
Kyrgyzstan 112 71% 1%
Georgia 98 NA 1%
Other 477 -53% 5%
Total 10 177 22% 100%

 

Sales of pharmacy chain of Latvijas aptieka Ltd. during October 2016 were 1.62 million euros, which represents an increase by 1% compared to the same period one year ago. Sixty-four pharmacies were operating during this period. Sales of Latvian green pharma company Silvanols during October 2016 were 0.53 million euro, which represents an increase by 36% compared to sales this company made during October 2015. During this period, Silvanols Ltd. sold its products to eight European countries and with assistance from JSC Olainfarm also to Russia, Kazakhstan and Azerbaijan. Sales of elastic medical materials producer Tonus Elast Ltd. during October 2016 were 0.87 million euros, the company was making its sales to 16 countries in three continents.

According to preliminary results, in ten months of 2016, consolidated sales of JSC Olainfarm reached 88.69 million euros, which represents an increase by 9% compared to the same period of 2015. The most rapid sales increase during this ten months period was achieved in Uzbekistan, where sales grew by 85%. Sales to Ukraine grew by 25%, sales to Turkmenistan and the UK each grew by 24%. The major sales markets during ten months were Russia, Latvia, Ukraine and Belarus.

10 months of 2016, consolidated sales Sales, thousand EUR Changes to 10 months of 2015 Share in total sales
Russia 27 199 1% 31%
Latvia 21 540 14% 24%
Ukraine 13 263 25% 15%
Belarus 6 862 16% 8%
Kazakhstan 2 364 12% 3%
Uzbekistan 2 080 85% 2%
The Netherlands 1 999 -60% 2%
UK 1 921 23% 2%
Poland 1 098 3% 1%
Turkmenistan 1 067 23% 1%
Other 9 299 22% 10%
Total 88 692 9% 100%

 

Sales of pharmacy chain of Latvijas aptieka Ltd. in ten months were 15.5 million euros, which represents an increase by 12% compared to ten months of last year. Sales of Silvanols Ltd. in ten months were 4.21 million euros, which represents an increase by 28% compared to the same period of 2015, when Silvanols’ sales were 3.3 million euros. Silvanols Ltd. made its sales to thirteen European countries and with assistance of JSC Olainfarm also to Albania, Kosovo, Azerbaijan, Kazakhstan, Belarus, Lithuania and Russia. Sales of Tonus Elast Ltd. in five months was 3.53 million euros, its products were sold to 30 countries in four continents.

According to preliminary unconsolidated results, sales of JSC Olainfarm in October 2016 were 8.02 million euros, which represents an increase by 11% compared to the same period of tha last year. The biggest sales increase was achieved in Uzbekistan, where it grew by 220%. Sales to Russia grew by 77%, but sales to Kyrgyzstan grew by 35%. During October 2016, significant shipments were also made to the Netherlands and Germany. The biggest sales markets were Russia, Ukraine, Latvia and Belarus. During October 2016, products of JSC Olainfarm were sold to 22 countries of Europe and Asia.

October 2016, unconsolidated sales Sales, thsnd. EUR Changes to October 2015 Share in total sales
Russia 3 849 77% 48%
Ukraine 1 095 -40% 14%
Latvia 1 088 1% 14%
Belarus 522 -27% 7%
The Netherlands 360 NA 4%
Uzbekistan 300 220% 4%
Germany 279 NA 3%
Kazakhstan 143 -60% 2%
Kyrgyzstan 89 35% 1%
Lithuania 72 3% 1%
Other 221 -75% 3%
Total 8 018 11% 100%

 

According to preliminary unconsolidated results, sales of JSC Olainfarm in ten months of 2016 was 74.09 million euros, which represents an increase by 4% compared to ten months of 2015. The most rapid sales increase during this ten months period was achieved in Uzbekistan, where sales grew by 85%. Sales to Lithuania grew by 25%, Sales to Ukraine grew by 24%, but sales to Turkmenistan grew by 23%. The biggest sales markets of JSC Olainfarm in ten months of 2016 were Russia, Ukraine, Latvia and Belarus. In total during this period, products of JSC Olainfarm were sold to 41 countries in four continents.

10 months of 2016, unconsolidated sales Sales, thousand EUR Changes to 10 months of 2015 Share in total sales
Russia 26 436 -1% 36%
Ukraine 13 126 24% 18%
Latvia 11 005 7% 15%
Belarus 6 815 16% 9%
Uzbekistan 2 080 85% 3%
The Netherlands 1 999 -60% 3%
Kazakhstan 1 870 -11% 3%
UK 1 815 16% 2%
Turkmenistan 1 067 23% 1%
Lithuania 890 25% 1%
Other 6 989 5% 9%
Total 74 092 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 ten months of 2016 eighty-six percent of planned annual Company’s sales and 89% 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 October grow by 22%

Olainfarm Acquires Medical Company Klinika DiaMed

on November 10, 2016

On November 9th, JSC Olainfarm signed an agreement with Otrais Eko Fonds, Karlis Kupcs and Toms Baumanis whereby it acquired 100% shares in private medical company Klinika DiaMed. According to confidentiality clauses of the said agreement, the value of transaction is not being disclosed at this stage. The transaction will be registered with Latvian Company register within coming days. Liene Cipule will remain the director of Klinika DiaMed Ltd..

“Acquisition of DiaMed is the first step of Olainfarm in sector of health care services. From now on our group will not only provide top quality medicines for people that already need them , but we will also offer products and services targeted at preserving one’s health. This will be a comprehensive approach to health, with both, prevention and treatment. Within a few coming years we plan to increase number of Olainfarm’s health care institutions in Riga and in regions, where we plan to offer health care services including treatment, prevention, rehabilitation and introduction to healthy lifestyle under a supervision of high level specialists,” says Valerijs Maligins, Chairman of the Board of JSC Olainfarm.

Karlis Kupcs, an ex-co-owner of Klinika DiaMed Ltd., its Medical director, Head of Institute of Radiology of P. Stradins University Hospital said: “I am delighted that in ten years Klinika DiaMed from just an idea with one magnetic resonance device on its equipment list has developed into an important and highly valued private medical institution. We have developed a highly qualified team, providing health care services not only to people throughout Latvia, but also to our foreign patients. Jointly with Olainfarm, we could grow faster, improving the scope of our services and their availability to patients “.

“High performance standards of DiaMed are well respected by public and private health care institutions, general practitioners and other health professionals and by large companies, many of whom ask us to be a health care provides for their teams. Our advantage is not only an outstanding team of medical professionals, but also the fact that we are one of the every few offering services every day, including weekends. We have created a good bais for a further development, specifically in priority areas of diagnostics, small surgeries and rehabilitation. Being a part of Olainfarm group will boost DiaMed’s managerial, organizational, intellectual and financial capacity for further growth. We plan to put particularly large effort in attracting foreign clients and in developing prevention and health promotion services,” says Liene Cipule, Director of Klinika DiaMed Ltd..

Klinika DiaMed Ltd. has a ten-year experience in providing health care services. Clinic offers high precision visual diagnostics, consultations, treatment and rehabilitation. This allows providing an assistance of a wide range for different health conditions. Klinika DiaMed Ltd. offers small surgeries for treatment of blood vessels, neurosurgery, oncology, plastic surgery, traumatology and orthopaedic surgeries. Its daytime inpatient unit performs complicated diagnostic examinations, surgeries and manipulations, and also conservative (non-surgical) treatment and rehabilitation. In DiaMed, you can also consult invasive radiologists, neurosurgeons, neurosonologists, neurologists, cardiologists, orthopaedists, oncologists, traumatologists, physiotherapists and other medical professionals.

There are more than 70 people working in Klinika DiaMed. Medical doctors of DiaMed have been trained not only locally but also in Finland, Sweden, Denmark, Austria and the USA. Sales of Klinika “DiaMed Ltd. last year exceeded one million euros.

Group of Olainfarm consists from the parent company JSC Olainfarm, pharmacy chain of Latvijas aptieka Ltd., producer of eco-cosmetics Kiwi Cosmetics Ltd., producer of elastic and compression materials Tonus Elast Ltd.. JSC Olainfarm also owns 96,69% shares in Silvanols Ltd., leading Latvian producer of food supplements.

 

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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SigitaOlainfarm Acquires Medical Company Klinika DiaMed