Uncategorized

Sales of Olainfarm in May Increase by 19%

on June 15, 2017

Preliminary consolidated results of JSC Olainfarm for May 2017 show that the sales of the company during this period have reached 10.81 million, which represents an increase by 19% compared to the same period of last year. The biggest sales increase has been achieved in The Netherlands, where sales grew by 4214%. Sales to Kazakhstan increased by 316%, sales to Tajikistan increased by 162% and sales to Belarus increased by 136%. During May of 2017, JSC Olainfarm also made significant shipments to Germany. The biggest sales markets of JSC Olainfarm in May were Russia, Latvia, Ukraine, Belarus and The Netherlands.

May 2017, consolidated sales Sales, Thsnd. EUR Changes to May, 2016 Share in total sales
Russia 3 389 -11% 31%
Latvia 2 335 35% 22%
Ukraine 1 134 13% 10%
Belarus 879 136% 8%
The Netherlands 839 4214% 8%
Tajikistan 364 162% 3%
Uzbekistan 302 13% 3%
Kazakhstan 284 316% 3%
Germany 157 NA 1%
Lithuania 169 42% 2%
Other 961 -38% 9%
Total 10 813 19% 100%

 

Sales of Latvijas aptieka Ltd. during May 2017 were 1.7 million euros, which represents an increase by 31% compared to the same period of 2016. Sixty-five pharmacies were operating during this period. Sales of Silvanols Ltd. in May 2017 reached 0.38 million, which is an increase by 12% compared to May of 2016. During May 2017, Silvanols Ltd. sold its products to eight European countries during this period and with assistance of JSC Olainfarm also to Kazakhstan, Lithuania, Russia and Armenia. Sales of Tonus Elast Ltd. during May 2017 reached 0.55 million euros. The company made its sales in 22 countries in four continents

According to preliminary results, consolidated sales of JSC Olainfarm in five months reached 49.01 million euros, which represents an increase by 11% compared to five months of 2016. The biggest sales increase was achieved in The Netherlands, where sales grew by 561%, and Germany, where sales grew by 230%. Biggest sales reductions took place in Ukraine, where sales shrunk by 40% and Turkmenistan, where sales shrunk by 36%. Major sales markets of the group during May 2017 were Russia, Latvia, Belarus, Ukraine and The Netherlands.

5 months of 2017, consolidated sales Sales, thsnd. EUR Changes to 5 months of 2016 Share in total sales
Russia 15 753 20% 32%
Latvia 12 188 16% 25%
Belarus 4 572 12% 9%
Ukraine 4 344 -40% 9%
The Netherlands 3 331 561% 7%
Kazakhstan 988 34% 2%
Italy 825 40% 2%
Lithuania 700 23% 1%
Germany 654 230% 1%
Turkmenistan 590 -36% 1%
Other 5 068 -12% 10%
Total 49 014 11% 100%

 

Sales of Latvijas aptieka Ltd. in five months of 2017 were 8.5 million euros, which represents an increase by 8% compared to the same period of 2016. Sales of Silvanols Ltd. during this period were 2.45 million euro, which represents an increase by 23% compared to five months of 2016. Products of Silvanols Ltd. were sold to nine European countries and, with the help of JSC Olainfarm also to Lithuania, Russia, Azerbaijan, Belarus and Armenia. Sales of Tonus Elast Ltd. in five months reached 3.1 million euros, and its products were sold to 33 countries in four continents.

According to unconsolidated preliminary results for May 2017, sales of JSC Olainfarm during this period reached 9.09 million euros, which represents an increase by 9% compared to the same period of 2016. The biggest sales increase was achieved in The Netherlands, where sales grew by 4214%. Sales to Kazakhstan grew by 243%, sales to Tajikistan increased by 150%, but sales to Belarus grew by 136%. Significant shipments were also made to Germany. The major sales markets during this period were Russia, Latvia, Ukraine, Belarus and The Netherlands. During May 2017, products of JSC Olainfarm were sold to 28 countries in three continents.

May 2017, unconsolidated sales Sales, thsnd. EUR Changes to May, 2016 Share in total sales
Russia 3 234 -15% 36%
Latvia 1 171 8% 13%
Ukraine 1 134 13% 12%
Belarus 879 136% 10%
The Netherlands 839 4214% 9%
Tajikistan 347 150% 4%
Uzbekistan 302 13% 3%
Kazakhstan 235 243% 3%
Germany 154 NA 2%
Lithuania 146 43% 2%
Other 649 -56% 7%
Total 9 090 9% 100%

 

According to preliminary unconsolidated numbers, sales of JSC Olainfarm in five months of 2017 reached 39.75 million euros, which represents an increase by 3% compared to the same period of 2016. The most rapid sales increase was achieved in The Netherlands, where sales grew by 561% and Germany, where sales grew by 226%. The biggest sales reduction during this time took place in Ukraine, where sales shrunk by 41%. The major sales markets of JSC Olainfarm during these five months were Russia, Latvia, Belarus, Ukraine and The Netherlands. In total during five months of 2017, products of JSC Olainfarm were sold to 40 countries in five continents.

Five months of 2017, unconsolidated sales Sales, thsnd. EUR Changes to five months of 2016 Share in total sales
Russia 14 436 10% 36%
Latvia 6 034 5% 15%
Belarus 4 521 11% 11%
Ukraine 4 252 -41% 11%
The Netherlands 3 331 561% 8%
Italy 792 35% 2%
Kazakhstan 699 -5% 2%
Germany 646 226% 2%
Turkmenistan 590 -36% 1%
Lithuania 580 19% 1%
Other 3 867 -26% 10%
Total 39 748 3% 100%

 

General meeting of shareholders of JSC Olainfarm held on June1, 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 five months of 2017 the company has met 41% of annual target for unconsolidated sales and 39% 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 May Increase by 19%

About resignation of Jelena Borcova, Member of the Board

on May 18, 2017

JSC Olainfarm hereby informs that on May 17, 2017 it has received a letter of resignation from its Board member Mrs. Jelena Borcova, whereby she resigns from the position of the Board member by May 18, 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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SigitaAbout resignation of Jelena Borcova, Member of the Board

Curriculum Vitae of Andis Krumins, Candidate for Council Membership of JSC Olainfarm

on May 17, 2017

EDUCATION:

2014-2017 Psychiatry studies at post-graduate Program of Riga Stradins University

1990-1997 Doctoral studies at Medical Faculty of Latvian Medical Academy

 

PROFESSIONAL EXPERIENCE:

2017

Psychiatry and Narcology Center of Riga

Residing doctor

SIA “AO Solutions”

Member of the Board

Latvian Foundation for Development of Radiology

Member of the Board

 

2004 – 2014

SIA “Multitrial Clinical Trials”

Member of the Board

 

2003

Latvian Ministry of Health

Parliamentary Secretary

 

Number of shares of AS Olainfarm owned: 0

 

 

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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SigitaCurriculum Vitae of Andis Krumins, Candidate for Council Membership of JSC Olainfarm

Announcement of inclusion of additional item into Agenda of Annual shareholders meeting of JSC Olainfarm to be held on 01.06.2017.

on May 15, 2017

Joint Stock Company Olainfarm (reg. No. 40003007246, legal address: Rupnicu street 5, Olaine, LV-2114) the Management Board hereby announces that the following item has been additionally included into the agenda of the Annual shareholders meeting scheduled for June 01st, 2017:

  • Election of the Council.

Additional item has been included into agenda due to receipt of the May 12th, 2017, resignation notice by the Council member Geliia Gildeeva based on the rights provided by part 8 article 296 of the Commercial law of the Republic of Latvia.

 

JSC Olainfarm Management Board

 

 

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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SigitaAnnouncement of inclusion of additional item into Agenda of Annual shareholders meeting of JSC Olainfarm to be held on 01.06.2017.

Report of the Supervisory Council of JSC Olainfarm to the General Meeting of Shareholders

on May 2, 2017

Supervisory Council of JSC Olainfarm has read the Consolidated and Parent Company’s Annual reports for 2016, as well as Independent Auditors’ Report about it. In addition, the Council has assessed financial position of the Company and Operations of the Management Board during this financial year and hence produced this Report.

The Council values the work conducted by Company’s Board during the last year as satisfactory, because, although its operations allowed the Company to significantly increase its sales in 2016, due to several unfavorable decisions and conditions it had to make significant provisions during this period, resulting in considerable profit reduction. The Council highly appreciated the acquisition of Tonus Elast Ltd., which is so far the biggest acquired daughter company of the Group. Tonus Elast Ltd. is the company with a very strong and clearly not fully realized export potential. The Council urges the Board to closely follow that during the harmonization of processes positions of Tonus Elast Ltd. in its existing markets are not harmed. With regard to other acquisitions of 2016 and the upcoming ones, the Council asks the Board to assess financial feasibility of such, especially if the target operates in a sector where expertise of the Company itself is very limited. The Council supports an opinion that for more rapid growth the Company must rather focus on acquisition of a larger company with greater development potential, than waste its financial and other resources on smaller, riskier and administratively more demanding objects.

Rapid decline in Company’s profitability and significant provisions for doubtful receivables made in 2016 makes the Council to draw Board’s attention to issues directly related to Company’s profitability, specifically, to necessity to more carefully assess the recoverability of assets and justification and transparency of marketing and sales costs of Parent Company and daughter companies. The Council fully appreciates that when entering new markets or launching new products bigger sales and marketing costs are unavoidable. However, the Council asks the Board to be more critical regarding the necessity to bear significant marketing costs for well-established products in well-established countries.

During 2016 the Council continued following the development of different companies in the Group. And this is the second year in a row, when the Council wants to specifically emphasize rapid and positive development of Silvanols Ltd.. 2016 has been the second year in a row when this company makes significant profit from its main operations. It is particularly satisfying that 2016 is going to be the first year, when this company pays dividends to its shareholders from its profits gained that year.

The Council is satisfied that the Board is dedicated to solve the related party lending issue and is suggesting the relatively high dividend payments of 0.64 cents per share, making the payments in three installments at the end of second, third and fourth quarters. The Council shares Boards conservatism in approach to Company’s liquidity this year, but would like to draw the attention of the Board and shareholders that therefore suggests to abstain from it.

During 2016 the Council of the Company has performed its duties and supervised operations of the Company according to legislation, decisions by the general meeting. The Council has approved financial statements and overviewed operations of Company’s management. During the reporting period 17 Council meetings were held. During these meetings, Board reports, Board composition, plans, planned and actual budgets were reviewed. Agenda items of general meeting was pre-approved. Council found no significant insufficiencies in Boards operations in 2016. The Board has been in constant consultations with the Council and has taken into account all previously mentioned and other recommendations of the Council targeted at safe further development of the Company.

The Council would like to take this opportunity to thank the Board, all employees of the Company and its partners for cooperation in 2016, and to wish successful, stable and positively challenging next year.

 

Approved by the Council Meeting on April 28, 2017

Chairman of the Council                    Ivars Godmanis

 

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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SigitaReport of the Supervisory Council of JSC Olainfarm to the General Meeting of Shareholders

Announcement About Convening of the Annual General Meeting of Olainfarm

on May 2, 2017

Management Board of the Joint Stock company Olainfarm (registration number. 40003007246, registered  address: Rupnicu iela 5, Olaine, LV-2114) convenes and announces that the Annual General Meeting of JSC Olainfarm Shareholders will be held on June 01st, 2017 at 11:00 at the  premises of JSC Olainfarm in Olaine, Rupnicu iela 5.

Agenda:

  1. Report of the Management Board about the results of operations in 2016.
  2. Report of the Council about the results of operations in 2016.
  3. Report of the Auditing Committee about 2016.
  4. Approval of JSC Olainfarm Сonsolidated and Parent Сompany’s Annual Report for year 2016.
  5. Distribution of reserves.
  6. Distribution of profit of 2016.
  7. Report of the Management Board about the budget and operational plan for 2017.
  8. Amendment of Statutes.
  9. Elections of the sworn auditor for 2017 and setting of the remuneration for the sworn auditor.
  10. Elections of the Auditing Committee and setting of the remuneration of the Auditing  Committee.

Registration of the shareholders will take place on the day of the meeting, i.e. June 01st, 2017 from  10:00 until 10:45 on the venue.

Total number of shares and the total number of the voting shares of JSC Olainfarm is 14 085 078.

Date of the record for participation of the shareholders in the Annual General Meeting of shareholders  of JSC Olainfarm is May 24th, 2017. Only those who are the shareholders at the date of record have  the right to participate in the Annual General Meeting of shareholders on June 01st, 2017, with the  number of shares held by them at the date of record.

Shareholders may participate in the Annual General Meeting of shareholders either in person or  represented through a proxy:

– When registering the shareholders must present either the passport or other  identification document;

– When registering the representatives of the shareholders must present the passport or  other identification document, submit a written power of attorney by the represented shareholder (the  form of the power of attorney is available at JSC Olainfarm web-site  http://www.olainfarm.lv, web-site of the system of Central Storage of Regulated Information http://www.oricgs.lv; and web-site   of JSC  NASDAQ OMX Riga http://www.nasdaqbaltic.com) or the legal representative has to present a document confirming the authority.

Shareholders have the following rights:

– shareholders that represent at least 1/20 of the capital of the company have the right  to within 7 days after the announcement is published to request the Management Board of JSC Olainfarm  to include additional items in the agenda. Shareholders that request inclusion of additional items in  the agenda of the Annual General Meeting of shareholders must submit to the Management Board of JSC  Olainfarm draft decisions about the issues to be included in the agenda upon their request or  explanations about the item, if no decision is planned;

– within 7 days after the publishing of this announcement, submit draft decisions about  the items of agenda.  Should all submitted draft decisions be reviewed and declined, shareholders may  submit their proposed draft decisions during the Annual General Meeting of Shareholders itself;

– should the shareholder submit an inquiry at least 7 days before the Annual General  Meeting of shareholders, the Management Board shall at least 3 days before the Annual General Meeting  of shareholders provide the requested information about the items included in the agenda. It is a duty  of the Management Board to upon the request of the shareholder provide information about the economic  situation of the company to the extent necessary for objective decision-making of the particular item  on the agenda.

Shareholders may see the draft resolutions of the Annual general Meeting of Shareholders from May 18,  2017 until May 31, 2017 on business days from 09:00 until 16:00 in Olaine, Rupnicu iela 5, in the Legal  division of JSC Olainfarm, if scheduled in advance through telephone + 371 6 7013 870 or on the web  page of JSC Olainfarm  http://www.olainfarm.lv, but on the day of the Annual General Meeting – at the registration desk.

JSC Olainfarm Сonsolidated and Parent Сompany’s Annual Report for year 2016, report of the independent auditors, report of the Council, Corporate governance report, profit distribution proposals and Statute amendments are available at web page of JSC „Olainfarm”  http://www.olainfarm.lv, web-page of the system of Central Storage of Regulated Information http://www.oricgs.lv and the web page of JSC NASDAQ OMX Riga http://www.nasdaqbaltic.com.

Management Board of Joint Stock Company Olainfarm

 

 

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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SigitaAnnouncement About Convening of the Annual General Meeting of Olainfarm

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

Olainfarm Goes on a Road Show to Baltic, Nordic and Polish Investors

on October 24, 2016

From October 24 through October 28 Member of the Board and Investor relations officer of JSC Olainfarm Mr. Salvis Lapins will have his third annual road show to update investors about Olainfarm’s performance and near future intentions. Presentations will be organized in capitals of six countries. For the first time road show will also include Warsaw and Copenhagen

„This is the third year when at the end of October we organize road show to meet our investors. We report on what has happened during the year and discuss our vision about our future development. I am delighted that the event is becoming increasingly popular among the investors and that the geography of interest is also expanding, as this year investors from Poland and Denmark have also expressed interest,” says Salvis Lapins, Member of Olainfarm’s Board and company’s Investor Relations Officer.

Meetings are planned on October 24 in Vilnius, October 25 in Warsaw, October 26 in Copenhagen and in Stockholm, October 27 in Helsinki and October 28 in Tallinn. More than 20 meetings have been scheduled so far and during those meetings the enclosed presentation will be distributed: Baltic Sea Region Roadshow Presentation.

 

 

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 Goes on a Road Show to Baltic, Nordic and Polish Investors

Olainfarm Named the Best Listed Company in Baltics

on October 14, 2016

JSC Olainfarm was named the best listed company in the Baltics and has received “Baltic Corporate Excellence Award”. This is the first time Latvian company has received this Baltic award. Previous seven years award stayed in Lithuania. Last year the award winner was Lithuanian company Apranga. JSC Olainfarm was also named the best listed company in Latvia, an honour that Olainfarm has been awarded fifth year in a row. Olainfarm was appreciated this high for its ability to successfully operate despite unfavourable economic conditions in its main markets, and for its growth potential, backed by company’s diversification strategy in terms of geography, products and business segments.

Lithuanian clothing retailer Apranga was Baltic runner up this year and the best listed company in Lithuania. Estonian electrical engineering company Harju Elekter was named the best listed company of Estonia and the third best in the Baltics.

It is ninth consecutive years since Riga office of Swiss based analysts of CE Services in partnership with CE Asset Management AG and BA School of Business and Finance make comprehensive qualitative and quantitative analyses of companies listed on the official list of Nasdaq Baltic. The goal of the analyses is to identify the best company in Baltics depending on its historical financial indicators, competitiveness and quality of corporate governance. This year, the quality part of analysis was expanded by including factors of corporate social responsibility, as investors pay increasing attention to it.

Photo: Salvis Lapins, Member of the Management Board of JSC Olainfarm

 

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 Named the Best Listed Company in Baltics