Meet Olainfarm at the CPhI 2014 in Paris at Hal 4 booth 4B25

17/09/2014

We are pleased to invite you to visit our stand 4B25 at Hal 4 at the CPhI 2014 in Paris, 7-9 October 2014.

Olainfarm will be on sight showcasing our portfolio of FDFs, APIs and intermediates. We offer complete contract manufacturing services including research, scale-up, pilot and commercial manufacturing, as well as support with QC and validation. Our top level management will be available to have business discussions straight away. If you are interested in a meeting, please contact us and we will reserve a timeslot for you at your preferential day/time.

Olainfarm is the leading manufacturer in the chemical and pharmaceutical sector of the Baltic States with more than 40 years of experience and export to more than 35 countries worldwide. Our key areas of specialization in FDFs include neurology, cardiology, infectology  and allergology. We have a long-standing technological and know-how advantage in adamantane chemistry, quinuclidine chemistry, nitrofuran chemistry and optically pure g-aminobutyric acid derivatives, as well as in chiral compounds.

Participation supported by European Regional Development Fund.

 

Sales of Olainfarm in 8 Months Increase by 34%

15/09/2014

According to preliminary consolidated sales results of  JSC Olainfarm for August 2014, company’s sales have reached 6.68 million euro, which represents an increase by 7% compared to the same period one year ago.  The biggest sales increases were achieved in Azerbaijan, where sales grew by 303%, while sales to Lithuania grew by 83%.  During August 2014 significant shipments have also been made to The Netherlands and Turkmenistan.  Major sales markets of JSC Olainfarm in August 2014 were Russia, Latvia, Ukraine and Belarus.

August 2014, consolidated sales Share in total sales Changes to August 2013
Russia 35% -12%
Latvia 22% 8%
Ukraine 19% 27%
Belarus 11% 27%
Kazakhstan 4% 7%
The Netherlands 2% NA
Azerbaijan 2% 303%
Moldova 1% 24%
Turkmenistan 1% NA
Lithuania 1% 83%
Other 3% -38%
Total 100% 7%

Latvijas aptieka LTD, a pharmacy chain fully owned by JSC Olainfarm in August 2014 made the monthly sales of 1.14 million euro.  54 pharmacies were operating during this period.  Sales of Silvanols LTD in August were 0.14 million euro.

In eight months of 2014 according to preliminary consolidated data, the sales of JSC Olainfarm were 61.7 million euro, which represents an increase by 34% compared to the respective period of 2013.  The most rapid sales increases were achieved in Poland, where sales grew by 725%, sales to Ukraine grew by 170%, sales to The Netherlands grew by 135%, but sales to Lithuania grew by 83%.  The biggest sales markets of JSC Olainfarm in eight months of 2014 were Russia, Latvia, Ukraine and Belarus.

Eight months of 2014, consolidated sales Share in total sales Changes to 8 months of 2013
Russia 36% 17%
Latvia 22% 22%
Ukraine 16% 170%
Belarus 8% 34%
UK 3% 2%
The Netherlands 2% 135%
Kazakhstan 2% -22%
Poland 2% 725%
Uzbekistan 2% 30%
Lithuania 1% 83%
Other 7% 22%
Total 100% 34%

Latvijas aptieka LTD, a pharmacy chain fully owned by JSC Olainfarm in eight months of 2014 made the sales of 9.74 million euro. Sales of Silvanols LTD in eight months were 1.9 million euro.

According to preliminary unconsolidated sales results of Olainfarm JSC for August 2014, the sales during this month were worth 5.79 million euro, which represents an increase by 7% compared to the same period one year ago.  The biggest sales increases were achieved in Azerbaijan, where sales grew by 303%, while sales to Ukraine and Belarus grew by 27%.  Also during this period significant shipments have been made to The Netherlands and Turkmenistan.  The biggest markets of JSC Olainfarm during august 2014 were Russia, Ukraine, Belarus and Latvia.  During August, 2014  JSC Olainfarm made sales to 18 countries on 3 continents.

August 2104, unconsolidated sales Share in total sales Changes to August 2013
Russia 40% -12%
Ukraine 21% 27%
Belarus 13% 27%
Latvia 12% 20%
Kazakhstan 5% 7%
The Netherlands 2% NA
Azerbaijan 2% 303%
Moldova 1% 24%
Turkmenistan 1% NA
Kyrgyzstan 1% -45%
Other 2% -59%
Total 100% 7%

In eight months of 2014 according to preliminary unconsolidated data, the sales of JSC Olainfarm were 53.76 million euro, which represents an increase by 36% compared to the respective period of 2013.  The most rapid sales increases were achieved in Poland, where sales grew by 11926%, sales to Ukraine grew by 170%, sales to The Netherlands grew by 135%, but sales to Tajikistan by 77%.  The biggest sales markets of JSC Olainfarm in eight months of 2014 were Russia, Ukraine, Latvia and Belarus. In total during eight months of 2014, JSC Olainfarm has made sales to 32 countries on five continents.

8 months of 2014, unconsolidated sales Share in total sales Changes to 8 months of 2013
Russia 41% 17%
Ukraine 18% 170%
Latvia 11% 33%
Belarus 9% 34%
UK 3% 2%
The Netherlands 3% 135%
Kazakhstan 3% -22%
Uzbekistan 2% 30%
Poland 2% 11926%
Tajikistan 1% 77%
Other 7% 10%
Total 100% 36%

On April 29, 2014 an AGM of JSC Olainfarm approved an operating plan of the company, providing that the unconsolidated sales target for 2014 is 80 million euro, while consolidated sales target for 2014 is 93 million euro.  According to these preliminary sales results, in eight months of 2014 JSC Olainfarm has met 67% on annual unconsolidated sales target and 66% of annual consolidated sales target.

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: slapinsh@olainfarm.lv

 

 

Second Quarter 2014 Investor Conference Webinar

11/09/2014

On September 10 JSC Olainfarm organized its second quarter 2014 Investor Conference Online Webinar. During the webinar the member of the management board of JSC Olainfarm Salvis Lapiņš analysed the financial results of second quarter 2014 and informed about the company’s future activities, paying extra attention to Russian market.

The recorded Olainfarm webinar is available online:http://ej.uz/OLF_Q2_2014,and the presentation, demonstrated during the webinar, can be found in the previously published JSC Olainfarm announcement: https://newsclient.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=623968&messageId=774129.

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 35 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.  

 

Information prepared by:

Salvis Lapins
Member of the Board
JSC Olainfarm
Tel: +371 6 7013 717
Cell: +371 2 6448 873
E-mail: slapinsh@olainfarm.lv

Olainfarm Holds 2nd Quarter 2014 Investor Conference Webinar

10/09/2014

JSC Olainfarm invites shareholders, investors, mass media representatives and other stakeholders to join its second quarter 2014 investor conference webinar scheduled on September 10, 2014 at 16:00 (EET).

Webinar will be hosted by the member of the management board Salvis Lapiņš. The presentation will be in English.

During the webinar Salvis Lapiņš will inform about JSC Olainfarm latest activities and analyse the financial results of the second quarter 2014.

After the presentation investors will be welcomed to ask questions.

The enslosed presentation will be used during the webinar: Webinar presentation: 2nd quarter and 6 months of 2014

What is webinar?
Webinar is a virtual conference, during which company’s representative gives information about the company and its future plans. Webinar allows interactive communication and a possibility to ask questions and get answers directly from the company.

How to join the webinar?
To join the webinar, please go to the site http://ej.uz/OLF_2Q_2014 on September 10, 2014 at 16:00, choose „Enter as a guest”, type in your name, surname and click „enter”. You will be then directed to the webinar screen. Prior registration is not necessary.

Additional information on the webinar
All you need to have is a computer with internet connection and headphones. No additional installations of special programs are necessary.
You will be able to ask questions in writing or just listen to the host of webinar.

For more information on webinar service please visit: http://www.nasdaqomxbaltic.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 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: slapinsh@olainfarm.lv

 

Olainfarm will Hold Second Quarter 2014 Investor Conference Webinar

01/09/2014

JSC Olainfarm invites shareholders, investors, mass media representatives and other stakeholders to join its second quarter 2014 investor conference webinar scheduled on September 10, 2014 at 16:00 (EET).

Webinar will be hosted by the member of the management board Salvis Lapiņš. The presentation will be in English.

During the webinar Salvis Lapiņš will inform about JSC Olainfarm latest activities and analyse the financial results of the second quarter 2014.

After the presentation investors will be welcomed to ask questions.  Due to the limited webinar time, please send in your questions in advance till September 9 to e-mail: ieva.kadakovska@nasdaqomx.com.

What is webinar?
Webinar is a virtual conference, during which company’s representative gives information about the company and its future plans. Webinar allows interactive communication and a possibility to ask questions and get answers directly from the company.

How to join the webinar?
To join the webinar, please go to the site http://ej.uz/OLF_2Q_2014 on September 10, 2014 at 16:00, choose „Enter as a guest”, type in your name, surname and click „enter”. You will be then directed to the webinar screen. Prior registration is not necessary.

Additional information on the webinar
All you need to have is a computer with internet connection and headphones. No additional installations of special programs are necessary.
You will be able to ask questions in writing or just listen to the host of webinar.

For more information on webinar service please visit: http://www.nasdaqomxbaltic.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 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: slapinsh@olainfarm.lv

In Six Months of 2014 Olainfarm Sets New Sales and Profit Records

29/08/2014

Unaudited report of JSC Olainfarm for first six months of 2104 shows that the consolidated profit was 8.9 million euro, while consolidated sales were 48.6 million euro.  The profit has increased by 73%, while sales increased by 41%, compared to the same period of 2013. Major sales markets of JSC Olainfarm during this period were Russia, Ukraine, Latvia, Belarus and the UK.

Thus JSC Olainfarm has experienced its most profitable quarter making the new profit of 5.25 million euro, which is by 119% more than the net profit of the second quarter of 2013.  In terms of sales this has also been the most successful second quarter as 25.2 million euros worth of sales were made, which is an increase by 52% compares to the same period one year ago.

„Despite very tense relations between Russia and Ukraine, we managed to make this our best six months so far, both in terms of sales and profits. However, we cannot be sure that this conflict or related sanctions will not influence us in the future. As political and economic outlook for Russia and Ukraine is very difficult to predict at this point, we have decided to make provisions on all receivable outstanding from these countries as of June 30th,” says Valerijs Maligins, Chairman of the Board of JSC Olainfarm.

During the 1st half of 2014 sales to all company’s main markets continued increasing except for Kazakhstan, where they shrunk by 27%, compared to 1st half of 2013. Such a reduction was expected, mainly because of devaluation of Kazakhstan’s currency. The most rapid sales increases during the 1st half of 2014 were achieved to Poland, where sales grew by 13434%, Ukraine by 303%, The Netherlands by 180% and Uzbekistan by 102%.  In total during six months of 2014,  JSC Olainfarm made sales to 32 countries on 5 continents.

During this period 27 registration cases have been approved in 12 countries, including Poland, Mongolia, Romania and Kosovo.  Several products are still in the process of obtaining MAs, among other countries, in Turkey and Kosovo, registration processes have been launched in Bosnia and Herzegovina and other new markets. Preclinical trials of R-fenotropil are being conducted and totally new forms and line extensions of existing products are being developed

Annual meeting of shareholders of JSC Olainfarm held on April 29, 2014 approved operating plan of the Concern. According to it, sales of the Concern in 2014 are planned to be 93 million euros, but the net profit will reach 15 million euros. According to this unaudited report for 1st half of 2014, during the first six months 52.2% of annual sales target and 59.4% of annual profit target is met.

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: slapinsh@olainfarm.lv

 

 

 

Unconsolidated Financial report for 2013, Prepared According to IFRS

19/08/2014

JSC Olainfarm hereby publishes its unconsolidated financial report for 2013, prepared according to IFRS.

Report: Olainfarm_2013_IFRS StandAlone FS_ENG

 

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: slapinsh@olainfarm.lv

Sales of Olainfarm in July Grow by 15%

15/08/2014

Preliminary consolidated results of JSC Olainfarm for July 2014 show that sales have reached 6.28 million euro, which is by 15% more than sales made during July of 2013.  The biggest sales increase has been achieved in Kyrgyzstan, where sales grew by 181%. Sales to Lithuania grew by 172%; sales to Turkmenistan grew by 54%, while sales to Russia grew by 42%.  During July 2014 the company has also made significant shipments to Tajikistan and the USA.  Major sales markets of JSC Olainfarm during this month were Russia, Latvia and Ukraine.

July 2014, consolidated sales

Share in total sales

Changes to July 2013

Russia 55% 42%
Latvia 26% 16%
Ukraine 10% -6%
Turkmenistan 2% 54%
Kazakhstan 1% -31%
Lithuania 1% 172%
Tajikistan 1% NA
Belarus 1% -84%
Kyrgyzstan 1% 181%
USA 1% NA
Other 3% -61%
Total 100% 15%

Sales of the pharmacy chain of Latvijas aptieka Ltd. during July 2014 were 1.17 million euro and 52 pharmacies were operating during this period.  Sales of Silvanols Ltd. during this period were 0.12 million euro.

In seven months of 2014, according to preliminary consolidated data, sales of JSC Olainfarm reached 55 million euro, which represents an increase by 38% compared to the same period of 2013.  The most rapid sales increases were achieved in Poland, where sales grew by 881%, sales to Ukraine grew by 224%, sales to the Netherlands grew by 113% and sales to Lithuania grew by 84%.  Major sales markets of JSC Olainfarm in seven months of 2014 were Russia, Latvia, Ukraine and Belarus.

7 months of 2014, consolidated sales

Share in total sales

Changes to 7 months of 2013

Russia 36% 21%
Latvia 22% 23%
Ukraine 15% 224%
Belarus 8% 35%
UK 3% 2%
The Netherlands 2% 113%
Kazakhstan 2% -27%
Poland 2% 881%
Uzbekistan 2% 64%
Lithuania 1% 84%
Other 7% 19%
Total 100% 38%

Sales of the pharmacy chain of Latvijas aptieka Ltd. in seven months were 8.6 million euro.  Sales of Silvanols Ltd. in the same period were 1.65 million euro; the company has its sales made to 9 European countries.

According to preliminary unconsolidated figures, sales of JSC Olainfarm during July 2014 were 5.47 million euro, which represents an increase by 18% compared to the same period one year ago.  The biggest sales increases were achieved in Kyrgyzstan, where sales grew by 181%, Lithuania, where sales grew by 172%, Turkmenistan, where sales grew by 76%, Latvia, where sales grew by 45% and Russia, where sales grew by 42%.  Significant shipments have also been made to Tajikistan and the USA. Major sales markets of JSC Olainfarm during July 2014 were Russia, Latvia and Ukraine.  During this month the sales have been made to 19 countries on three continents.

July 2014, unconsolidated sales

Share in total sales

Changes to July 2013

Russia 63% 42%
Latvia 15% 45%
Ukraine 11% -6%
Turkmenistan 2% 54%
Kazakhstan 2% -31%
Lithuania 1% 172%
Tajikistan 1% NA
Belarus 1% -84%
Kyrgyzstan 1% 181%
USA 1% NA
Other 3% -69%
Total 100% 18%

In seven months of 2014, according to preliminary results, the unconsolidated sales of JSC Olainfarm were 47.97 million euro, which represents an increase by 40% compared to the same period one year ago. The most rapid sales increases were achieved in Poland, where sales grew by 11926%, sales to Ukraine have grown by 224%, sales to The Netherlands grew by 113%, but sales to Tajikistan grew by 72%.  According to preliminary unconsolidated results, the major sales markets of JSC Olainfarm in seven months of 2014 were Russia, Ukraine, Latvia, Belarus and the UK.  During seven months the sales have been made in 32 countries on 5 continents.

7 months of 2014, unconsolidated sales

Share in total sales

Changes to 7 months of 2013

Russia 42% 21%
Ukraine 18% 224%
Latvia 11% 35%
Belarus 9% 35%
UK 4% 2%
The Netherlands 3% 113%
Kazakhstan 2% -27%
Uzbekistan 2% 64%
Poland 2% 11926%
Tajikistan 1% 72%
Other 7% 7%
Total 100% 40%

Annual General Meeting of shareholders of JSC Olainfarm, held on April 29, 2014 approved an operating plan of the company that provides that unconsolidated sales of the company in 2014 will reach 80 million euro, while consolidated sales of the company in 2014 will reach 93 million euro.  According to preliminary sales figures published hereby, during six months the company has achieved 60% of annual target for unconsolidated sales and 59% 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 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

 

 

Sales of Olainfarm in June Reach 5.25 Million Euro

15/07/2014

Preliminary consolidated results of JSC Olainfarm for June 2014 show that company’s sales have reached 5.25 million euro, which represents a reduction by 22% compared to the same period one year ago.  The major sales increases have been achieved in Poland, where sales grew by 2920%, sales to Tajikistan grew by 529%, and sales to Belarus grew by 89%, while sales to Moldova grew by 76%.  During June of 2014 the company has also made significant shipments to The Netherlands.  Major sales markets of Olainfarm in June 2014 were Latvia, Russia, Belarus, Poland and Kazakhstan.

June 2014, consolidated results Share in total sales Changes to June 2013
Latvia 29% 13%
Russia 26% -38%
Belarus 13% 89%
Poland 9% 2920%
Kazakhstan 6% 0%
Ukraine 4% -70%
The Netherlands 4% NA
Tajikistan 3% 529%
Lithuania 2% -5%
Moldova 1% 76%
Other 4% -87%
Total 100% -22%

Sales of pharmacy chain of Latvijas aptieka Ltd., fully owned by  JSC Olainfarm in June of 2014 were 1.14 million euro, and 55 pharmacies were operating during this period. Sales of Silvanols Ltd. during this period were 0.23 million euro.

During six months of 2014, according to preliminary figures the consolidated sales of  JSC Olainfarm has reached 48.74 million euros, which represents an increase by 40% compared to similar period of 2013.  The most rapid sales increases during these six months have been achieved in Poland, where sales grew by 13434%, Ukraine, where sales grew by 303%, The Netherlands, where sales grew by 180%, Uzbekistan, where sales grew by 102% and Lithuania, where sales grew by 90%.    Major sales markets of JSC Olainfarm during the first six months of 2014 were Russia, Latvia, Ukraine and Belarus.

6 months of 2014, consolidated results Share in total sales Changes to 6 months of 2013
Russia 34% 18%
Latvia 21% 24%
Ukraine 16% 303%
Belarus 9% 46%
UK 3% 2%
The Netherlands 3% 180%
Kazakhstan 2% -27%
Poland 2% 13434%
Uzbekistan 2% 102%
Lithuania 1% 90%
Other 7% 4%
Total 100% 40%

Sales of the pharmacy chain of Latvijas Aptieka Ltd. fully owned by JSC Olainfarm in 6 months were 7.4 million euros.  Sales of Silvanols Ltd. in six months of 2014 were 1.523 million euros.

According to unconsolidated results of JSC Olainfarm, sales of the company in June 2014 were 4.34 million euros, which represents a reduction by 22% compared to the same period one year ago.   The major sales increases have been achieved in Tajikistan, where sales grew by 529%, Belarus, where sales grew by 89%, Moldova, where sales grew by 76% and Latvia, where sales grew by 37%.  Major sales markets of JSC Olainfarm in June 2014 were Russia, Latvia, Belarus, Poland, Kazakhstan and Ukraine.  During June of 2014 products of JSC Olainfarm were sold to 19 countries in three continents.

June 2014, unconsolidated results Share in total sales Changes to June 2013
Russia 31% -38%
Latvia 16% 37%
Belarus 16% 89%
Poland 11% NA
Kazakhstan 7% 0%
Ukraine 5% -70%
The Netherlands 4% NA
Tajikistan 3% 529%
Lithuania 2% -4%
Moldova 2% 76%
Other 4% -88%
Total 100% -22%

According to preliminary figures, during six months of 2014 unconsolidated sales of JSC Olainfarm was 42.5 million euro, which represents an increase by 44% compared to the same period of 2013. The most rapid sales increases during these six months have been achieved in Poland, where sales grew by 11926%, Ukraine, where sales grew by 303%, The Netherlands, where sales grew by 180%, and Uzbekistan, where sales grew by 102%.  According to preliminary unconsolidated results, the main sales markets of JSC Olainfarm during the first six months of 2014 were Russia, Ukraine, Latvia and Belarus.  During six months of 2014 the sales have been made to 32 countries on five continents.

6 months of 2014, unconsolidated results Share in total sales Changes to 6 months of 2013
Russia 39% 18%
Ukraine 18% 303%
Latvia 11% 33%
Belarus 10% 46%
UK 4% 2%
The Netherlands 3% 180%
Kazakhstan 2% -27%
Uzbekistan 2% 102%
Poland 2% 11926%
Tajikistan 1% 57%
Other 7% 6%
Total 100% 44%

Annual General Meeting of shareholders of JSC Olainfarm, held on April 29, 2014 approved an operating plan of the company that provides that unconsolidated sales of the company in 2014 will reach 80 million euro, while consolidated sales of the company in 2014 will reach 93 million euro.  According to preliminary sales figures published hereby, during six months the company has achieved 53% of annual target for unconsolidated sales and 52% 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 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: slapinsh@olainfarm.lv

 

Sales of Olainfarm in May Grow by 121%

16/06/2014

According to preliminary consolidated sales figures of  JSC Olainfarm for May, sales of the company have reached 10.62 million euro, which is an increase by 121% compared to the same period one year ago.  The biggest sales increases have been achieved in Ukraine, where sales grew by 86931%, Uzbekistan by 500%, and Lithuania by 119%.  During May 2014, the company has also made significant shipments to the UK and Poland.  Biggest sales markets of JSC Olainfarm in May 2014 were Ukraine, Russia, Latvia, UK, Belarus and Uzbekistan.

May 2014, consolidated results Share in total sales Changes to May 2013
Ukraine 30% 86931%
Russia 26% 39%
Latvia 15% 15%
UK 8% NA
Belarus 5% 8%
Uzbekistan 5% 500%
Poland 2% NA
The Netherlands 2% 16%
Kazakhstan 1% -2%
Lithuania 1% 119%
Other 6% 22%
Total 100% 121%

Sales of pharmacy chain of Latvijas aptieka Ltd., fully owned by JSC Olainfarm in May 2014 were 1.19 million euro.  54 pharmacies were operating during this period. Sales of Silvanolsm Ltd.  in this period were 0.14 million euro.

During the first five months of 2014, according to preliminary consolidated results, sales of JSC Olainfarm were 43.38 million euro, which represents an increase by 55% compared to the same period of 2013. The most rapid sales increases have been achieved in Ukraine, where sales have grown by 548%, sales to Lithuania have grown by 140%, Sales to The Netherlands have grown by 139%, sales to Uzbekistan have grown by 113% but sales to the UK have grown by 104%.  Significant shipments have also been made to Poland. Major sales markets of JSC Olainfarm during five months of 2014 were Russia, Latvia, Ukraine and Belarus.

5 months of 2014, consolidated results Share in total sales Changes to 5 months of 2013
Russia 35% 28%
Latvia 20% 26%
Ukraine 17% 548%
Belarus 8% 40%
UK 4% 104%
The Netherlands 3% 139%
Uzbekistan 2% 113%
Kazakhstan 1% -35%
Poland 1% NA
Lithuania 1% 140%
Other 7% 20%
Total 100% 55%

During first five months sales of pharmacy chain of Latvijas aptieka Ltd., fully owned by JSC Olainfarm reached 6.29 million euro.  Sales of Silvanols Ltd. during the same period were 1.3 million euro.

According to preliminary unconsolidated results of JSC Olainfarm, sales in May reached 9.76 million euro, which represents an increase by 141% compared to the same period one year ago.  The biggest sales increases were achieved in Ukraine, where sales grew by 86931% and Uzbekistan, where sales grew by 500%. Major sales markets of JSC Olainfarm in May 2014 were Ukraine, Russia, UK, Latvia, Belarus and Uzbekistan.  Significant shipments have also been made to Poland. During May 2014, JSC Olainfarm has made sales to 23 countries in 4 continents.

May 2014, unconsolidated results Share in total sales Changes to May 2013
Ukraine 32% 86931%
Russia 28% 39%
UK 9% NA
Latvia 8% 25%
Belarus 6% 8%
Uzbekistan 5% 500%
Poland 3% NA
The Netherlands 2% 16%
Kazakhstan 2% -2%
Tajikistan 1% -45%
Other 6% 50%
Total 100% 141%

According to preliminary results, during five months of 2014 unconsolidated sales of JSC Olainfarm reached 38.16 million euro, which represents an increase by 59% compared to the same period one year ago.  The most rapid sales increases during the period have been achieved in Ukraine, where sales grew by 548%, sales to the Netherlands grew by 139%, and sales to Uzbekistan grew by 113%, while sales to the UK grew by 104%.  Biggest sales markets of  JSC Olainfarm in five months of 2014 were Russia, Ukraine, Latvia and Belarus.  In five months of 2014 sales have been made to 32 countries in five continents.

5 months of 2014, unconsolidated results Share in total sales Changes to 5 months of 2013
Russia 40% 28%
Ukraine 20% 548%
Latvia 10% 32%
Belarus 9% 40%
UK 4% 104%
The Netherlands 3% 139%
Uzbekistan 3% 113%
Kazakhstan 2% -35%
Poland 1% NA
Tajikistan 1% 19%
Other 7% 18%
Total 100% 59%

Annual General Meeting of shareholders of  JSC Olainfarm held on May 29, 2014, approved operating plan of the company, providing that unconsolidated sales of the company will reach 80 million euro, while consolidated sales will reach 93 million euro.  According to these preliminary sales figures, in five months of 2014 48% of annual unconsolidated sales target and 47% of annual consolidated sales target have been achieved.


 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: slapinsh@olainfarm.lv

 

 

First Quarter 2014 Investor Conference Webinar

05/06/2014

On June 5 JSC Olainfarm organized its first quarter 2014 Investor Conference Online Webinar. During the webinar the member of the management board of JSC Olainfarm Salvis Lapiņš analysed the financial results of first quarter 2014 and informed about the company’s future activities, paying a lot of attention to Belarusian market.

The recorded Olainfarm webinar is available online:http://ej.uz/Olainfarm_1Q_webinar_2014,and the presentation, demonstrated during the webinar, can be found in the previously published JSC Olainfarm announcement: https://newsclient.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=612858&messageId=759535.

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 35 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.  

Information prepared by:

Salvis Lapins
Member of the Board
JSC Olainfarm
Tel: +371 6 7013 717
Cell: +371 2 6448 873
E-mail: slapinsh@olainfarm.lv

Olainfarm First Quarter 2014 Investor Conference Webinar

05/06/2014

JSC Olainfarm invites shareholders, investors, mass media representatives and other stakeholders to join its first quarter 2014 investor conference webinar scheduled on June 5, 2014 at 16:00 (EET).

Webinar will be hosted by the member of the management board Salvis Lapiņš. The presentation will be in English.

During the webinar Salvis Lapiņš will inform about JSC Olainfarm latest activities and analyse the financial results of the first quarter 2014.

During the webinar the enclosed presentation will be presented: Webinar Presentation 1st quarter 2014

What is webinar?
Webinar is a virtual conference, during which company’s representative gives information about the company and its future plans. Webinar allows interactive communication and a possibility to ask questions and get answers directly from the company.

How to join the webinar?
To join the webinar, please go to the site http://ej.uz/OLF_1Q_2014 on June 5, 2014 at 16:00, choose „Enter as a guest”, type in your name, surname and click „enter”. You will be then directed to the webinar screen. Prior registration is not necessary.

Additional information on the webinar
All you need to have is a computer with internet connection and headphones. No additional installations of special programs are necessary. You will be able to ask questions in writing or just listen to the host of webinar.

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 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: slapinsh@olainfarm.lv

 

Olainfarm will Hold First Quarter 2014 Investor Conference Webinar

03/06/2014

JSC Olainfarm invites shareholders, investors, mass media representatives and other stakeholders to join its first quarter 2014 investor conference webinar scheduled on June 5, 2014 at 16:00 (EET).Webinar will be hosted by the member of the management board Salvis Lapiņš. The presentation will be in English.

During the webinar Salvis Lapiņš will inform about JSC Olainfarm latest activities and analyse the financial results of the first quarter 2014.

After the presentation investors will be welcomed to ask questions.  Due to the limited webinar time, please send in your questions in advance till June 4 to e-mail: ieva.kadakovska@nasdaqomx.com.

What is webinar?
Webinar is a virtual conference, during which company’s representative gives information about the company and its future plans. Webinar allows interactive communication and a possibility to ask questions and get answers directly from the company.

How to join the webinar?
To join the webinar, please go to the site http://ej.uz/OLF_1Q_2014 on June 5, 2014 at 16:00, choose „Enter as a guest”, type in your name, surname and click „enter”. You will be then directed to the webinar screen. Prior registration is not necessary.

Additional information on the webinar
All you need to have is a computer with internet connection and headphones. No additional installations of special programs are necessary. You will be able to ask questions in writing or just listen to the host of webinar.

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 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: slapinsh@olainfarm.lv

Olainfarm Sales in Q1 2014 Reach 23.3 Million Euro, Net Profit Grows by 32%

30/05/2014

JSC Olainfarm has experienced the most profitable first quarter in its history, as its profits reached 3.7 million euro and sales were up to 23.3 million euro.  Profit has increased by 32%, while sales by 30%, compared to the same period one year ago. Major sales markets of JSC Olainfarm during Q1 2014 were Russia, Ukraine, Latvia, Belarus and the Netherlands.

„Despite very tense Russia – Ukraine relationships and devaluation of Tenge in Kazakhstan, we have experienced the most profitable first quarter in our history.  Sales of major products are more even, sales of registered products are expanding and we plan to start exporting to Mongolia this year.  Sales of nti-tuberculosis product to WHO are also increasing,” says Valerijs Maligins, Chairman of the Board of JSC Olainfarm.

During the 1st quarter of 2014 JSC Olainfarm sales continued to increase in all of the company’s main markets, except for Kazakhstan, where they decreased by 50% year-on-year. The decrease was due to devaluation of Kazakhstan national currency Tenge at the beginning of the year. The biggest increases in sales during Q1 2014 were achieved in Spain (+181%), Lithuania (+171%), Ukraine (+157%) and Uzbekistan (+67%).In total during three months of 2014 products of JSC Olainfarm were sold to 31 countries in five continents.

During this period 12 registration cases have been approved in several countries. Several products are still in the process of obtaining MAs, among other countries, in Poland, Mongolia and Kosovo. Preclinical trials of R-fenotropil are being conducted and totally new forms of existing products are being developed.

JSC Olainfarm budget and operating plan for 2014 sets targets for consolidated sales to reach 93 million euro and net profit to reach 15 million euro. According to the unaudited report, during the 1st quarter of 2014 25.1% of the annual sales target and 24.5% of the annual profit target have been met.


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: slapinsh@olainfarm.lv

Sales of Olainfarm in April increase by 76%

15/05/2014

Preliminary consolidated sales figures of JSC Olainfarm for April 2014 show that sales have reached 9.46 million euro, which represents an increase by 76% compared to the same period one year ago. The major sales increases were achieved in Ukraine, where sales grew by 13708%, sales to Georgia grew by 716%, sales to Tajikistan grew by 647%, sales to Lithuania grew by 361% and sales to Russia grew by 130%. Major sales markets of JSC Olainfarm in Aprils 2014 were Russia, Latvia, Ukraine and Belarus.  Sales during this period were made to 19 countries on 2 continents.

April 2014, consolidated results Share in total sales Changes to April 2013
Russia 47% 130%
Latvia 19% 30%
Ukraine 15% 13708%
Belarus 7% 51%
Kazakhstan 2% -18%
Uzbekistan 1% -18%
Georgia 1% 716%
Tajikistan 1% 647%
Lithuania 1% 361%
Turkmenistan 1% 66%
Other 3% -70%
Total 100% 76%

Sales of pharmacy chain Ltd. Latvijas aptieka owned by JSC Olainfarm in April of 2014 were 1.26 million euro, and 53 pharmacies were operating during this period.  Sales of Ltd. Silvanols in April 2014 were 0.27 million euro.

During the first four months of 2014 according to preliminary results sales of JSC Olainfarm were 32.85 million euro, which represents an increase by 42% compared to the same period of 2013. The most rapid sales increases were achieved in Ukraine, where sales grew by 281%, sales to The Netherlands grew by 201%, while sales to Lithuania grew by 165%.  Major sales markets of JSC Olainfarm during four months of 2014 were Russia, Latvia, Ukraine and Belarus. In total during four months of 2014 sales have been made to 34 countries on 5 continents.

4 months of 2014, consolidated results Share in total sales Changes to four months of 2013
Russia 38% 26%
Latvia 22% 29%
Ukraine 13% 281%
Belarus 9% 48%
The Netherlands 3% 201%
UK 3% 2%
Kazakhstan 2% -40%
Uzbekistan 1% 31%
Lithuania 1% 165%
Spain 1% -14%
Other 7% 44%
Total 100% 42%

Sales of pharmacy chain Latvijas aptieka Ltd., owned by JSC Olainfarm in four months were 5.1 million euro.  Sales of Silvanols Ltd. during this period were 1.13 million euro.

According to preliminary unconsolidated results, the sales of JSC Olainfarm in April 2014 were 8.44 million euro, which represents an increase by 85% compared to the same period one year ago.  The biggest sales increases were achieved in Ukraine, where sales grew by 13708%, sales to Georgia grew by 716%, sales to Tajikistan grew by 647%, sales to Lithuania grew by 361%, but sales to Russia grew by 130%.  Major sales markets of JSC Olainfarm in April 2014 were Russia, Ukraine, Latvia and Belarus.  During Aprils 2014, products of JSC Olainfarm were sold in 18 countries on two continents.

April 2014, unconsolidated results Share in total sales Changes to April 2013
Russia 53% 130%
Ukraine 17% 13708%
Latvia 10% 41%
Belarus 8% 51%
Kazakhstan 3% -18%
Uzbekistan 2% -18%
Georgia 1% 716%
Tajikistan 1% 647%
Lithuania 1% 361%
Turkmenistan 1% 66%
Other 3% -75%
Other 100% 85%

During four months of 2014, according to preliminary results, unconsolidated sales of JSC Olainfarm were 28.41 million euro, which represents an increase by 43% compared to the same period of 2013.  The most rapid sales increases were achieved in Ukraine and The Netherlands, where sales grew by 281% and 201% respectively.  Sales to Tajikistan grew by 119%.  According to preliminary unconsolidated results the major sales markets of JSC Olainfarm in four months of 2104 were Russia, Ukraine, Latvia and Belarus.  In total during four months of 2014 products of JSC Olainfarm were sold in 32 countries on 5 continents.

4 months of 2014, unconsolidated results Share in total sales Changes to 4 months of 2013
Russia 44% 26%
Ukraine 16% 281%
Latvia 11% 34%
Belarus 11% 48%
The Netherlands 3% 201%
UK 3% 2%
Kazakhstan 2% -40%
Uzbekistan 2% 31%
Spain 1% -14%
Tajikistan 1% 119%
Other 7% 27%
Total 100% 43%

On April 29, 2014, on Annual General Meeting of JSC Olainfarm, operating plan of the company was approved, providing that unconsolidated sales of company in 2014 will reach 80 million euros, while consolidated sales will be as high as 93 million euro.  According to these preliminary sales figures, during four months of this year 36% of annual target for unconsolidated sales and 35% of annual target for consolidated sales have been achieved.


 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
Member of the Board
JSC Olainfarm
Tel: +371 6 7013 717
e-mail: Salvis.Lapins@olainfarm.lv

 

Resolutions of the Annual General meeting of shareholders

29/04/2014

Name of securities: Public shares of JSC Olainfarm

ISIN code: LV000100501

Paid – in capital: 14 085 078 LVL

Date of the Annual General Meeting: April 29th, 2014, on 11.00 a.m.

Venue: Olaine, Rupnicu Street 5.

 

The following decisions have been adopted by the annual general meeting of shareholders:

1. Report of the Board on results of operations in 2013.

To take notice of the Report of the Board on results of operations in year 2013.

Voting: the resolution was adopted unanimously.

2. Report of the Council on results of operations in 2013.

To take notice of the Report of the Council on results of operations in year 2013.

Voting: the resolution was adopted unanimously.

3. Report of the Auditing Committee.

To take notice of the Report of the Auditing Committee.

Voting: the resolution was adopted with the necessary majority of votes.

4. Approval of the Audited Annual Report for 2013.

To approve the Audited Annual Report of JSC Olainfarm for year 2013.

Voting: the resolution was adopted unanimously.

5. Approval of the Audited Consolidated Annual Report for 2013.

To approve the Audited Consolidated Annual Report of JSC Olainfarm for year 2013.

Voting: the resolution was adopted unanimously.

6. Distribution of profit of 2013.

6.1. To use year 2013 profit of JSC Olainfarm in amount of 12 846 386.76 EUR (twelve million eight hundred and forty-six thousand three hundred and eighty-six euro, 76 cents) to reinvest to JSC Olainfarm development.

Voting: the resolution was adopted with the necessary majority of votes.

7. Report of the Board on budget and on planned operations in 2014.

To take notice of Report of the Board on budget and on planned operations in 2014, which include Company’s unconsolidated turnover forecast for 2014 in amount of 80 million EUR, and JSC Olainfarm consolidated turnover forecast for 2014 in amount of 93 million EUR; Forecast of unconsolidated profit of JSC Olainfarm is 14 million EUR, but consolidated profit is 15 million EUR.

Voting: the resolution was adopted unanimously.

8. Election and compensation of the Certified Auditor for 2014.

8.1. To elect SIA Ernst & Young Baltic (unitary registration No. 40003593454) to be the certified auditor of JSC Olainfarm in 2014.

Voting: the resolution was adopted unanimously.

8.2. Set the total remuneration of certified auditor for year 2014 in amount of EUR 41 263.00 (forty one thousand two hundred and sixty-three euro).

Voting: the resolution was adopted unanimously.

9. Election and compensation of the Auditing Committee for 2014.

9.1. Elect Viesturs Gurtlavs to be the sole member of the Auditing Committee in 2014.

Voting: the resolution was adopted with the necessary majority of votes.

9.2. Set the total monthly remuneration of the members of the Auditing Committee at EUR 4 000.00 (four thousand euro).

Voting: the resolution was adopted unanimously.

With present we inform that Annual General meeting of shareholders of JSC Olainfarm is closed.

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 Lapiņš
Member of the Board
JSC Olainfarm
Mobile. +371 26 448 873
E-mail: slapinsh@olainfarm.lv

In 2013 Consolidated Sales of Olainfarm Reached Almost 78 Million Euro

28/04/2014

Consolidated profit and loss account of JSC Olainfarm for 2013 shows that the company has reached sales of 77.9 million euro. This represents an increase by 4% compared to 2012, when sales of JSC Olainfarm were 75.2 million euro.

After tax profit of the company in 2013 was 12.6 million euro, which is a reduction by 9% compared to 2012, when the net profit was 13.8 million euro.During 2013 sales to all key markets of JSC Olainfarm continued growing, except Ukraine, where due to extra shipments of 2012 they shrank by 45%. The biggest sales increases were achieved in The Netherlands, where products for WHO’s anti-tuberculosis products are being sent. Sales there have increased by 351%.  Significant sales increase has also been achieved in Spain (sales grew by 202%), Belarus (sales grew by 48%) and Uzbekistan (sales grew by 42%).  Major sales markets of JSC Olainfarm in 2013 were Russia, Latvia, Ukraine, Belarus, Kazakhstan and the UK.

The bestselling products in 2013 were neurology medication Neiromidin, Noofen and Adaptol, antibacterial medication Furamags and cardiology medication Etacizīns.

During 2013 37 products have been registered in 7 different countries, including the marketing partnership products.  Registration processes have been started also in Turkey, Mongolia, Mexico and Kosovo. The work has been started at developing several new final dosage forms, clinical trials of injectable form of Kapikor (Olvazol) are being conducted.

With support of European Regional Development Fund in 2013 laboratory equipment has been acquired which will allow moving the production of nitrofuranes to a new production unit and further improving production technologies of this group of products.

In December 2013 Management Board of JSC Olainfarm adjusted previously set profit and sales guidance. According to them the sales of the Concern in 2013 were planned to be 75.1 million euro while the net profit guidance was 12.5 million euro.  According to audited report the sales guidance has been outperformed by 3.8%, while profit guidance was outperformed by 0.8%.

JSC Olainfarm Consolidated Annual Report for the Year Ended 31 December 2013

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 Lapiņš
Member of the Board
JSC Olainfarm
Mobile. +371 26 448 873
E-mail: slapinsh@olainfarm.lv

 

In 2013 Unconsolidated Sales of Olainfarm Reached Almost 67 Million Euro

28/04/2014

Unconsolidated profit and loss account of JSC Olainfarm for 2013 shows that the company has reached sales of 66.9 million euro. This represents an increase by 1.4% compared to 2012, when sales of JSC Olainfarm were 65.9 million euros.

After tax profit of the company in 2013 was 12.9 million euro, which is a reduction by 10% compared to 2012, when the net profit was 14.2 million euro.

The biggest sales increases in 2013 were achieved in The Netherlands, where products for WHO’s anti-tuberculosis products are being sent. Sales there have increased by 351%.  Significant sales increase has also been achieved in Spain (sales grew by 202%), Latvia (sales grew by 71%), Belarus (sales grew by 48%) and Uzbekistan (sales grew by 42%).  Major sales markets of JSC Olainfarm in 2013 were Russia, Latvia, Ukraine, Belarus, Kazakhstan and the UK.  In total during 2013 Olainfarm made sales to 37 countries in five continents.

The bestselling products in 2013 were neurology medication Neiromidin, Noofen and Adaptol, antibacterial medication Furamags and cardiology medication Etacizīns.

During 2013 37 products have been registered in 7 different countries, including the marketing partnership products.  Registration processes have been started also in Turkey, Mongolia, Mexico and Kosovo. The work has been started at developing several new final dosage forms, clinical trials of injectable form of Kapikor (Olvazol) are being conducted.

With support of European Regional Development Fund in 2013 laboratory equipment has been acquired which will allow moving the production of nitrofuranes to a new production unit and further improving production technologies of this group of products.

In December 2013 Management Board of JSC Olainfarm adjusted previously set profit and sales guidance. According to them the sales of the company in 2013 were planned to be 64.6 million euro while the net profit guidance was 10.5 million euro. According to audited report the sales guidance has been outperformed by 3.5%, while profit guidance was outperformed by 20.4%.

JSC Olainfarm Annual Report for the Year Ended 31 December 2013

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 Lapiņš
Member of the Board
JSC Olainfarm
Mobile. +371 26 448 873
E-mail: slapinsh@olainfarm.lv

Draft resolutions of the Annual General Meeting of Shareholders of JSC Olainfarm to be held on April 29th, 2014

15/04/2014

1. Report of the Board on results of operations in 2013.

Draft resolution:

To take notice of the Report of the Board on results of operations in 2013.

2. Report of the Council on results of operations in 2013.

Draft resolution:

To take notice of the Report of the Council on results of operations in 2013.

3. Report of the Auditing Committee.

Draft resolution:

To take notice of the Report of the Auditing Committee.

4. Approval of the Audited Annual Report for 2013.

Draft resolution:

To approve the Audited Annual Report of JSC Olainfarm for 2013.

5. Approval of the Audited Consolidated Annual Report for 2013.

Draft resolution:

To approve the Audited Consolidated Annual Report of JSC Olainfarm for 2013.

6. Distribution of profit of 2013.

Draft resolution:

To reinvest the profit of JSC Olainfarm for year 2013 in amount of  EUR 12 846 386,76 (twelve million eight hundred fourty six thousand three hundred and eighty six euro, 76 сcents) in the development of JSC Olainfarm.

7. Report of the Board on budget and on planned operations in 2014.

Draft resolution:

To take notice of Report of the Board on budget and on planned operations in 2014, which include Company’s unconsolidated turnover forecast for 2014 in amount of 80 million Euro, but JSC Olainfarm consolidated turnover forecast for 2014 in amount of 93 million Euro; Forecast of unconsolidated profit of JSC Olainfarm is 14 million Euro, but consolidated profit forecast is 15 million Euro.

8. Election of the Certified Auditor for 2014.

Draft resolutions:

8.1. to elect SIA Ernst & Young Baltic (license No.17, unitary registration No. 40003593454) to be the certified auditor of JSC Olainfarm in 2014.

8.2. to set the total remuneration of certified auditor in accordance with the approved budget.

9. Election of the Auditing Committee.

Draft resolutions:

9.1. to elect Viesturs Gurtlavs  to be the member of the Auditing Committee.

9.2. to set the total monthly remuneration of the member of the Auditing Committee at EUR ____________.

Remuneration of the member of the Auditing committee shall be made in accordance with offers of the shareholders.

 

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 JSC Olainfarm 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
Member of the Board
JSC Olainfarm
Tel: +371 6 7013 717
e-mail: Salvis.Lapins@olainfarm.lv

 

Sales of Olainfarm in March Grow By 35%

15/04/2014

Preliminary consolidated results of JSC Olainfarm for March 2014 show that sales have reached the level of 6.41 million euro, which represent an increase by 35% compared to the same period one year ago.  The biggest sales increases were achieved in Ukraine, where sales grew by 1893%, while sales to Lithuania grew by 248%, sales to Tajikistan by 69%, sales to Belarus by 52% and sales to Latvia by 51%.  Major sales markets of JSC Olainfarm in March 2014 were Russia, Latvia, Ukraine and Belarus.  Significant shipments during this period have also been made to Uzbekistan, The Netherlands and Albania.

March 2014, consolidated sales Share in total sales Changes to March 2013
Russia 32% -2%
Latvia 27% 51%
Ukraine 13% 1893%
Belarus 10% 52%
Kazakhstan 3% -51%
Uzbekistan 3% NA
The Netherlands 2% NA
Tajikistan 2% 69%
Albania 2% NA
Lithuania 2% 248%
Other 6% -35%
Total 100% 35%

During the first three months of 2013, according to preliminary figures consolidated sales of JSC Olainfarm were 23.44 million euro, which represents an increase by 37% compared to the same period of 2013. The most rapid sales increase during this period was achieved in Spain, where sales grew by 181%.  Sales to Lithuania grew by 171% but sales to Ukraine grew by 157%.  Major sales markets of JSC Olainfarm during first three months of 2014 were Russia, Latvia, Ukraine, Belarus, The Netherlands and the UK.

Sales of pharmacy chain Ltd. Latvijas aptieka, owned by JSC Olainfarm in March 2014 were 1.32 million euro.  There were 54 pharmacies operating in March.  Sales of Ltd. Silvanols in March were 0.27 million euro.

3 months of 2014, consolidated sales Share in total sales Changes to 3 months of 2013
Russia 34% 0%
Latvia 23% 29%
Ukraine 13% 157%
Belarus 10% 47%
The Netherlands 4% NA
UK 4% 2%
Uzbekistan 2% 67%
Kazakhstan 1% -50%
Spain 1% 181%
Lithuania 1% 171%
Other 8% 401%
Total 100% 37%

During the first three months of 2014 sales of chain of pharmacies Ltd. Latvijas aptieka owned by JSC Olainfarm were 3.84 million euros, while sales of Ltd. Silvanols in this period were 0.86 million euros.

According to unconsolidated preliminary sales results of JSC Olainfarm for March 2014, the sales in this period were 5.31 million euro, which represents an increase by 28% compared to the same period of 2013.  The biggest sales increase was achieved in Ukraine, where sales grew by 1893%.  Sales to Lithuania grew by 186%, sales to Tajikistan grew by 69% but sales to Belarus grew by 52%.  In March significant shipments were also made to Uzbekistan, The Netherlands and Albania.  Major sales markets of JSC Olainfarm in March 2014 were Russia, Ukraine, Latvia and Belarus.  In total during March JSC Olainfarm made sales to 19 countries in three continents.

March 2014, unconsolidated sales Share in total sales Changes to March 2013
Russia 39% -2%
Ukraine 15% 1893%
Latvia 14% 34%
Belarus 12% 52%
Kazakhstan 3% -51%
Uzbekistan 3% NA
The Netherlands 3% NA
Tajikistan 2% 69%
Albania 2% NA
Lithuania 1% 186%
Other 6% -50%
Total 100% 28%

During the first three months of 2014, according to preliminary results, unconsolidated sales of JSC Olainfarm were 20.01 million euro, which represents an increase by 30% compared to the same period of 2013. The most rapid sales increases during these three months have been achieved in Spain and Ukraine, where sales grew by 181% and 157% respectively.  Per order of the Who, significant sales have also been made to The Netherlands.  According to preliminary unaudited results the major sales markets of JSC Olainfarm during three months of 2014 were Russia, Ukraine, Belarus, Latvia, The Netherlands and the UK.  In total during three months of 2014 products of JSC Olainfarm were sold to 31 countries in five continents.

3 months of 2014, unconsolidated sales Share in total sales Changes to 3 months of 2013
Russia 40% 0%
Ukraine 15% 157%
Belarus 12% 47%
Latvia 11% 32%
The Netherlands 4% NA
UK 4% 2%
Uzbekistan 2% 67%
Kazakhstan 2% -50%
Spain 1% 181%
Italy 1% -13%
Other 8% 74%
Total 100% 30%

According to preliminary estimates, unconsolidated sales of JSC Olainfarm could reach 80 million euro, while consolidated sales could reach 90 million euro.  According to these preliminary sales figures, during three months of 2014, 25% of annual target for unconsolidated and 26% of annual target for consolidated sales have been achieved.


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 JSC Olainfarm 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
Member of the Board
JSC Olainfarm
Tel: +371 6 7013 717
e-mail: Salvis.Lapins@olainfarm.lv

 

Announcement about convening of the Annual General Meeting of Olainfarm

27/03/2014

Management Board of the Joint Stock company Olainfarm (registration number. 40003007246, registered address: Rupnicu iela 5, Olaine, LV-2114) announces that the Annual

General Meeting of JSC Olainfarm Shareholders will be convened on April 29, 2014 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 2013.

2.    Report of the Council about the results of operations in 2013.

3.    Report of the Auditing Committee.

4.    Approval of the audited Annual Report of 2013.

5.    Approval of the audited consolidated Annual Report of 2013.

6.    Distribution of profit of 2013.

7.    Report of the Management Board about the budget and operational plan for 2014.

8.    Elections of the sworn auditor for 2014 and setting of the remuneration for the sworn auditor.

9.    Elections of the Auditing Committee for 2014 and setting of the remuneration of the Auditing Committee.

Registration of the shareholders will take place on the day of the meeting, i.e. April 29, 2014 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 April 17th, 2014. Only those who are the shareholders at the date of record have the right to participate in the Annual General Meeting of shareholders on April 29, 2014, 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 of 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.nasdaqomxbaltic.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 April 14, 2014 until April 28, 2014 on working 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.

Information about the Annual General Meeting and rights of the shareholders is also available at web page of JSC Olainfar” http://www.olainfarm.lv, the system of Central Storage of Regulated Information http://www.oricgs.lv and the web page of JSC NASDAQ OMX Riga http://www.nasdaqomxbaltic.com.

POWER OF ATTORNEY: Pilnvaras_veidlapa_29042014_EN

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 JSC Olainfarm 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
Member of the Board
JSC Olainfarm
Tel: +371 6 7013 717
e-mail: Salvis.Lapins@olainfarm.lv


 


 

 

 


Sales of Olainfarm in February increase by 47%

17/03/2014

Preliminary consolidated results of JSC Olainfarm for February show that sales of the company have reached 7.31 million euro, which represents an increase by 47% compared to the same period one year ago.  The biggest sales increases were achieved in Ukraine, where sales grew by 733347% and Turkmenistan, where sales grew by 554%.  It should be noted however, that such impressive growth in Ukraine appears because in February were very insignificant.  Sales to Latvia have grown by 29%, while sales to Russia increased by 21%.  Major sales markets of JSC Olainfarm in February 2014 were Russia, Latvia, Ukraine, Belarus, UK and The Netherlands.  During February 2014, JSC Olainfarm has also made significant shipments to Poland and Bulgaria.

February 2013, consolidated results Share in total sales Changes to February 2013
Russia 33% 21%
Latvia 23% 29%
Ukraine 14% 733 347%
Belarus 10% 15%
UK 4% -31%
The Netherlands 3% NA
Poland 2% NA
Turkmenistan 2% 554%
Kazakhstan 2% -50%
Bulgaria 1% NA
Other 6% 30%
Total 100% 47%

In two months of 2014, according to preliminary figures, consolidated sales of JSC Olainfarm were 16.97 million euro, which represents an increase by 33% compared to the respective period of 2013.  The most rapid sales increases have been achieved in Spain, where sales grew by 843%, sales to Ukraine grew by 93% and sales to Belarus grew by 45%.  Major sales markets of JSC Olainfarm in two months of 2014 were Russia, Latvia, Ukraine, Belarus, UK and The Netherlands.

Sales of Latvijas aptieka Ltd., a pharmacy chain owned by JSC Olainfarm in February 2014 were 1.24 million euro.  There were 55 pharmacies operating in February.  Sales of Silvanols Ltd. in February 2014 were 0.31 million euro.

2 months of 2014, consolidated results Share in total sales Changes to 2 months of 2013
Russia 35% 1%
Latvia 21% 33%
Ukraine 13% 93%
Belarus 10% 45%
UK 5% 2%
The Netherlands 4% NA
Spain 2% 843%
Italy 1% 31%
Poland 1% NA
Uzbekistan 1% -9%
Other 7% 76%
Total 100% 33%

Sales of  Latvijas aptieka Ltd., a pharmacy chain owned by JSC Olainfarm in two months of 2014 were 2.5 million euro.  Sales of Silvanols Ltd. during the same period were 0.6 million euro.

According to unconsolidated preliminary results of Olainfarm Ltd., sales of the company in February were 6.28 million euro, which represents an increase by 50% compared to the same period one year ago.  The biggest sales increase was achieved in Ukraine, where sales grew by 733347%.  Sales to Turkmenistan grew by 554%, sales to Latvia grew by 39%, and sales to Russia grew by 21%.  Major sales markets of JSC Olainfarm in February 2014 were Russia, Ukraine, Belarus, Latvia, UK and the Netherlands.  In total during February sales to 25 countries have been made.

February 2014, unconsolidated results Share in total sales Changes to February 2013
Russia 39% 21%
Ukraine 16% 733347%
Belarus 12% 15%
Latvia 11% 39%
UK 4% -31%
The Netherlands 4% NA
Turkmenistan 2% 554%
Poland 2% NA
Kazakhstan 2% -50%
Bulgaria 2% NA
Other 6% 11%
Total 100% 50%

According to preliminary figures, during two months of 2014 volume of unconsolidated sales of JSC Olainfarm was 14.71 million euro, which represents an increase by 31% compared to the respective period one year ago.  The most rapid sales increases were achieved to Spain and Ukraine, where sales grew by 843% and 93% respectively.  According to preliminary unconsolidated results, major sales markets of JSC Olainfarm in two months of 2014 were Russia, Ukraine, Belarus, Latvia, UK and The Netherlands. During these two months JSC Olainfarm has been selling its products to 29 countries.

2 months of 2014, unconsolidated results Share in total sales Changes to 2 months of 2013
Russia 41% 1%
Ukraine 15% 93%
Belarus 12% 45%
Latvia 10% 31%
UK 6% 2%
The Netherlands 5% NA
Spain 2% 843%
Italy 1% 31%
Uzbekistan 1% -9%
Kazakhstan 1% -48%
Other 7% 172%
Total 100% 31%

According to preliminary estimates of JSC Olainfarm, unconsolidated sales of the company in 2014 could reach 80 million euro, while consolidated sales could reach 90 million euro.  According to these preliminary sales figures in two months of 2014 18% of annual unconsolidated sales target and 19% of annual consolidated sales target are met.


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  JSC Olainfarm 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
Member of the Board
JSC Olainfarm
Tel: +371 6 7013 717
e-mail: Salvis.Lapins@olainfarm.lv

 

Olainfarm will Hold Fourth Quarter 2013 Investor Conference Webinar

06/03/2014

JSC Olainfarm invites shareholders, investors, mass media representatives and other stakeholders to join its fourth quarter 2013 investor conference webinar scheduled on March 11, 2014 at 16:00 (EET).

Webinar will be hosted by the member of the management board Salvis Lapiņš. The presentation will be in English.

During the webinar Salvis Lapiņš will inform about JSC Olainfarm latest activities and analyse the unaudited financial results of the year 2013.

After the presentation investors will be welcomed to ask questions.  Due to the limited webinar time, please send in your questions in advance till March 10 to e-mail: ieva.kadakovska@nasdaqomx.com.

What is webinar?
Webinar is a virtual conference, during which company’s representative gives information about the company and its future plans. Webinar allows interactive communication and a possibility to ask questions and get answers directly from the company.

How to join the webinar?
To join the webinar, please go to the site http://bit.ly/1ojv2fq on March 11, 2014 at 16:00, choose „Enter as a guest”, type in your name, surname and click „enter”. You will be then directed to the webinar screen. Prior registration is not necessary.

Additional information on the webinar
All you need to have is a computer with internet connection and headphones. No additional installations of special programs are necessary.
You will be able to ask questions in writing or just listen to the host of webinar.

The enclosed presentation will be presented during the webinar.

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 35 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.  

Information prepared by:
Salvis Lapins
Member of the Board
JSC Olainfarm
Tel: +371 6 7013 717
e-mail: Salvis.Lapins@olainfarm.lv

Olainfarm Does Not See Any Significant Threats to Its Sales to Ukraine and Russia

05/03/2014

Currently Olainfarm does not see any significant threats for its sales to Ukraine and Russia.  However, if the European Union and its partners fail to solve the situation in Ukraine, the outcome could have a negative impact not only on company’s sales in Ukraine bus also in Russia.

„Not only Ukrainian market is important to Olainfarm, Russian one even more crucial, therefore I do hope that the all parties will get involved in solving the current situation and the conflict will be settled peacefully,” says Valerijs Maligins, chairman of JSC Olainfarm.

Preliminary consolidated results of JSC Olainfarm for January 2014 show that sales have reached 9.67 million euro, which is an increase by 24% compared to the same period one year ago.  The biggest sales increases were achieved in Georgia, here sales grew by  3496%, Spain, where sales grew by 843%, Italy, where sales grew by 321% and Lithuania, where sales grew by 126 as well as Latvia, where sales grew by 101%.  In January 2014, sales to Ukraine grew by 4% compared to January 2013. The major sales markets of JSC Olainfarm in January 2014 were Russia, Latvia, Ukraine, Belarus, UK and The Netherlands.


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
Member of the Board
JSC Olainfarm
Tel: +371 6 7013 717
e-mail: Salvis.Lapins@olainfarm.lv

 

Last year “Olainfarm” Increased Sales to 78 Million Euro

28/02/2014

Consolidated profit and loss account of AS „Olainfarm” for 2013 shows that the company has reached a new sales record of 54.8 million lats (78 million euro).  This represents an increase by 4% compared to 2012, when sales of AS “Olainfarm” were 52.9 million lats (75.3 million euro).

After tax profit of the company in 2013 was 8.9 million lats (12.6 million euro), which is a reduction by 8% compared to 2012, when the net profit was 0.8 million lats (13.9 million euro).

“This year our investments will be particularly strongly focused on infrastructure and capacities of „Olainfarm”.  Creation of new production unit for nitrofuranes is the biggest of such investments.  Since last year we acquired more than 70% shares in Silvanols, a leading Latvian producer of food supplements, we intend to use our experience in promotion and marketing in CIS countries to help Silvanols strengthen its position there.  We will continue working at improving our portfolio, entering new markets and co-marketing.  Development of chain of „Latvijas aptieka” is also among our priorities, although number of pharmacies this year will increase at a slower pace than during previous years,” says Valerijs Maligins, Chairman of the Board of AS “Olainfarm”.

During 2013 sales to all key markets of AS „Olainfarm” continued growing, except Ukraine, where due to the above mentioned extra shipments of 2012 they shrank by 45%.  The biggest sales increases were achieved in The Netherlands, where products for WHO’s anti-tuberculosis products are being sent.  Sales there have increased by 351%.  Significant sales increase has also been achieved in Spain (sales grew by 202%), Belarus (sales grew by 48%) and Uzbekistan (sales grew by 42%).  Major sales markets of AS “OlainFarm” in 2013 were Russia, Latvia, Ukraine, Belarus, Kazakhstan and the UK.

During 2013 37 products have been registered in 7 different countries, including the marketing partnership products.  Registration processes have been started also in Turkey, Mongolia, Mexico and Kosovo.

In December 2013 Management Board of AS “OlainFarm” adjusted previously set profit and sales guidance. According to them the sales of the Concern in 2013 were planned to be 52.8 million lats (75.1 million euro) while the net profit guidance was 8.8 million lats (12.5 million euro).  According to this unaudited report the sales guidance has been outperformed by 3.8%, while profit guidance was outperformed by 0.8%.


A/s OlainFarm is one of the biggest pharmaceutical companies in Latvia with 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 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.  

Information prepared by:
Salvis Lapins
Member of the Board
A/s „OlainFarm”
Tel: +371 6 7013 717
e-mail: Salvis.Lapins@OlainFarm.lv

Sales Of Olainfarm Grow By 24% in January

17/02/2014

Preliminary consolidated sales results of JSC Olainfarm for January 2014, show that sales have reached 9.67 million euros, which is an increase by 24% compared to the same period one year ago. The biggest sales increases have been achieved in Georgia, where sales grew by 3496%, Spain, where sales grew by 843%, Italy, where sales grew by 321%, Lithuania, where sales grew by 126% and Latvia, where sales grew by 101%. Major sales markets of  JSC Olainfarm in January 2014 were Russia, Latvia, Ukraine, Belarus, The UK and The Netherlands. During January 2014 almost half a million euros worth of sales have also been made to The Netherlands.

January 2014, consolidated results Share in total sales Changes to January 2013
Russia 37% -9%
Latvia 20% 101%
Ukraine 12% 4%
Belarus 10% 83%
UK 6% 35%
The Netherlands 5% NA
Spain 3% 843%
Italy 1% 321%
Lithuania 1% 126%
Georgia 1% 3496%
Other 4% -50%
Total 100% 24%

Sales of pharmacy chain of LTD Latvijas aptieka owned by JSC Olainfarm in January were 1.4 million euros.  There were 54 pharmacies operating in January.  Sales of LTD Silvanols in January were 0.29 million euros.

According to preliminary unconsolidated results of JSC Olainfarm sales made in January were worth 8.43 million euros, which is an increase by 20% compared to the same period one year ago.  The biggest sales increases were achieved in Georgia, where sales grew by 3496%, Azerbaijan, where sales grew by 883%, Spain, where sales grew by 843% and Italy, where sales grew by 321%.  Major sales markets of JSC Olainfarm during January 2014 were Russia, Ukraine, Belarus, Latvia, UK and The Netherlands.  In total sales to 19 countries in 2 continents have been made during January.

January 2014 unconsolidated results Share in total sales Changes to January 2013
Russia 42% -9%
Ukraine 14% 4%
Belarus 11% 83%
Latvia 10% 24%
UK 7% 35%
The Netherlands 6% NA
Spain 3% 843%
Italy 2% 321%
Georgia 1% 3496%
Azerbaijan 1% 883%
Other 5% 7%
Total 100% 20%

According to preliminary targets, unconsolidated sales of Olainfarm in 2014 are planned at  80 million euros, while consolidated sales are planned at 90 million euros.  According to these preliminary sales figures, during January 2014, 11% of annual sales target for unconsolidated sales and 11% of annual target for consolidated sales are achieved.

 

Olainfarm Announces Forecasts For 2014

12/02/2014

According to preliminary estimates unconsolidated sales of AS „Olainfarm” in 2014 will reach 80 million euro, while unconsolidated profit will reach 14 million euro. It i splanned that consolidated sales will reach 90 million euro, while consolidated profit will be as high as 15 million euro. AS „Olainfarm” will continue strengthening its position in chemical intermediate and API market and plans that sales in this segment will increase to at least 28 million euros in five to seven years. Last year the sales in this segment were slightly above 5 million euro.

This year JSC Olainfarm will focus on penetration into Central Asian markets of  Tajikistan, Turkmenistan, Kyrgyzstan and Uzbekistan.  The task is to make a full use of having  representative offices there. Among other things, the company intends to use its experience and capacity to increase CIS exports of Latvian food supplement producer LTD Silvanols, controlling stake in which was acquired by JSC Olainfarm last year.

During 2014 JSC Olainfarm plans to make a capital investment of at least 13 million euro. During this and the next four years ir is planned to build a new production unit of nitrofuranes, increase capacity of final dosage form production, reconstruct the wastewater system, improve energy efficiency, invest in chemical production and quality assurance systems.

 

„Olainfarm” Has Increased Its Sales Of Meldonium By 250% In Three Years

23/01/2014

AS “Olainfarm” confirms that Chamber of Civil cases of the Supreme Court of Latvia in its ruling has partially satisfied the claim by AS „Grindeks” to cancel the registration of trade marks MIDOLAT and МИДОЛАТ.  Therefore it is now an obligation of AS „Olainfarm” to destroy all the medicines and packaging, on which a graphic designation of Mildronāts, MIDOLAT and МИДОЛАТ.  This has to be completed within one year after the ruling takes effect.

AS „Olainfarm” does not produce either medicines or packaging with such designations since 2010, therefore this obligation poses no impact on performance of financial state of the company.

„Respecting worries of „Grindeks” about the trade mark of its flagship product, we have been producing and selling meldonium under trade marks of „Vazonat”, „Vazomag”, ”Zovanat” and „Meldonium Olainfarm” for three years now,” says Salvis Lapins, Member of the Board of AS „Olainfarm”. „We have registered trade marks on this metabolic medicine in 27 differrent countries.  Sales and production volumes of this product have grown by 250% over the last three years making it s stable participant of our top 15 products team”.

 


 A/s OlainFarm is one of the biggest pharmaceutical companies in Latvia with 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 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.  

Information prepared by:
Salvis Lapins
Member of the Board
A/s „OlainFarm”
Tel: +371 6 7013 717
e-mail: Salvis.Lapins@OlainFarm.lv

Sales Of „Olainfarm” In December Reaches 4.45 million lats

15/01/2014

According to preliminary sales results of AS “Olainfarm” for December 2013, sales of the company have reached 4.45 million lats (6.33 million euro), which is a reduction by 20% compared to the same period one year ago. The major sales increases were achieved in Uzbekistan, where sales grew by 81%, sales to Kyrgyzstan grew by 79%, and sales to Kazakhstan grew by 69%.  Major sales markets of AS “Olainfarm” in December 2013 were Russia, Ukraine, Latvia and Kazakhstan.  Significant shipments to Australia and Brazil have also taken place.

December 2013, consolidated results Share in total sales Changes to December 2012
Russia 29% -22%
Ukraine 29% -37%
Latvia 25% 35%
Kazakhstan 8% 69%
Uzbekistan 2% 81%
Australia 2% NA
Brazil 1% NA
Lithuania 1% -30%
Kyrgyzstan 1% 79%
Tajikistan 1% -25%
Other 1% -90%
Total 100% -20%

 

In twelve months of 2013, according to preliminary figures, the consolidated sales of AS “Olainfarm” were 55.29 million lats (78.67 million euro), which represents an increase by 5% compared to 2012.  The most rapid sales increases during this twelve months period were achieved in The Netherlands, where the sales grew by 351%, sales to Spain grew by 2002%, sales to Belarus grew by 48%, but sales to Uzbekistan grew by 42%.  Major sales markets of AS “Olainfarm” in 2013 were Russia, Latvia, Ukraine, Belarus and Kazakhstan.

2013, consolidated results Share in total sales  Changes to 2012
Russia 37% 14%
Latvia 23% 35%
Ukraine 14% -45%
Belarus 7% 48%
Kazakhstan 4% 17%
UK 3% -10%
Uzbekistan 2% 42%
The Netherlands 1% 351%
Georgia 1% 34%
Spain 1% 202%
Other 7% 8%
Total 100% 5%

 

Sales of chain of pharmacies of SIA “Latvijas aptieka” owned by AS „Olainfarm” in December of 2013 were 0.88 million lats (1.25 million euro).  In December 2013, 54 pharmacies of this chain were operating. During 2013 pharmacies of SIA “Latvijas aptieka” made total sales of 10.5 million lats (14.94 million euro). Sales of SIA „Silvanols” partially owned by AS “Olainfarm” in December 2013 were 0.14 million lats (0.2 million euro).

According to preliminary unconsolidated sales figures of AS “Olainfarm”, sales of the company during December reached 3.75 million lats (5.34 million euro), which is a reduction by 25% compared to the same period of 2012.  The most rapid sales increases were achieved in Uzbekistan, where sales grew by 81%, sales to Kyrgyzstan grew by 79%, sales to Kazakhstan grew by 69%, and sales to Latvia grew by 54%.  In December 2013, significant shipments have also been made to Brazil and Australia. According to unconsolidated results, the major sales markets of AS “Olainfarm” in December 2013 were Russia, Ukraine, Latvia and Kazakhstan.  In total during December 2013, products of AS “Olainfarm” were sold in 18 countries on 5 continents.

December 2013, unconsolidated results Share in total sales Changes to December 2012
Russia 35% -22%
Ukraine 35% -37%
Latvia 12% 54%
Kazakhstan 9% 69%
Uzbekistan 2% 81%
Australia 2% NA
Brazil 1% NA
Lithuania 1% -33%
Kyrgyzstan 1% 79%
Tajikistan 1% -25%
Other 0% -97%
Total 100% -25%

 

During 2013, according to preliminary figures, unconsolidated sales of AS “Olainfarm” were 47.35 million lats (67.37 million euro), which represents an increase by 2% compared to 2012.  The most rapid sales increases during this period were achieved in The Netherlands and Spain, where sales grew by 351% and 202%, respectively. Relatively rapid sales increases during this period were also achieved in Latvia, where sales grew by 71%, sales in Belarus grew by 48%, but sales in Uzbekistan grew by 42%. According to preliminary unconsolidated results, the major sales markets of AS “Olainfarm” during 2013 were Russia, Ukraine, Latvia, Belarus, Kazakhstan and the UK. In total in 2013 products of AS “Olainfarm” were sold to 37 countries in 5 continents.

2013, unconsolidated results Share in total sales Changes to 2012
Russia 44% 14%
Ukraine 16% -45%
Latvia 11% 71%
Belarus 8% 48%
Kazakhstan 5% 17%
UK 4% -10%
Uzbekistan 2% 42%
The Netherlands 1% 351%
Georgia 1% 34%
Spain 1% 202%
Other 7% -5%
Total 100% 2%

 

The adjusted sales guidance for AS „Olainfarm” says that unconsolidated sales of the company in 2013 will reach 45.4 million lats (64.6 million euro), while consolidated sales will reach 52.8 million lats (75.1 million euro).  According to these preliminary results, the company has outperformed its adjusted unconsolidated sales guidance by 4% and has outperformed its adjusted consolidated sales guidance by 5%


 A/s OlainFarm is one of the biggest pharmaceutical companies in Latvia with 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 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.  

 

Information prepared by:
Salvis Lapins
Member of the Board
A/s „OlainFarm”
Tel: +371 6 7013 717
e-mail: Salvis.Lapins@OlainFarm.lv

Dates when financial reports of a/s „OlainFarm” will be published in 2014

20/12/2013

A/s „OlainFarm” hereby announces the dates on which its financial reports will be published in 2014:

Unaudited financial report for 2013 will be published on February 28, 2014.

Unaudited financial report for 1st quarter of 2014 will be published on May 30, 2014.

Unaudited financial report for 2 quarters of 2014 will be published on August 29, 2014.

Unaudited financial report for 3 quarters of 2014 will be published on November 28, 2014.

Information prepared by:
Salvis Lapins
Member of the Board
A/s „Olainfarm”
Tel: +371 6 7013 717
Fax: +371 6 7013 777
E-mail: slapinsh@olainfarm.lv

„Olainfarm” Plans Its 2013 Profit to be at 8.8 Million Lats

19/12/2013

Updated financial guidance of AS “Olainfarm” provides that unconsolidated sales of the company in 2013 will reach 45.4 million lats (64.6 million euro), while consolidated sales will be as high as 52.8 million lats (75.1 million euro.  Consolidated profit is expected to be at 8.8 million lats (12.5 million euro), while unconsolidated profit will reach 7.5 million lats.

Initial financial guidance was approved on April 12, 2013, they were revised and presented in December 10, during the webinar conference hosted by Salvis Lapins, member of company’s Management Board. Financial guidance was adjusted after more precise data became available on November sales.  Although the sales in November were rather good, they were still too small to reasonably expect that the initial financial targets will be attained.

Since sales of AS „Olainfarm” have a rather clear seasonality, and traditionally it is third and fourth quarters, especially November and December when sales are particularly and sometimes unusually high, the probability of actually reaching the initial guidance remained reasonable up until when November sales figures became apparent. Although sales to Ukraine were improved significantly, bigger sales improvements to other countries were required in order to reach the initial financial targets.

Since AS „Olainfarm” is a company with a large base of employees and fixed assets, its has a comparatively high break-even point. It implies that when company’s sales are growing, its profits grow disproportionally and also, when company’s sales are not reaching the expected levels, the profit is also corrected disproportionally. Therefore profit guidance of AS „Olainfarm” for 2013 has been reduced by a bigger factor than the sales guidance.


 A/s OlainFarm is one of the biggest pharmaceutical companies in Latvia with 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 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.  

Information prepared by:
Salvis Lapins
Member of the Board
A/s „OlainFarm”
Tel: +371 6 7013 717
e-mail: Salvis.Lapins@OlainFarm.lv

OlainFarm’s Sales To Russia In November Grow By 61%

16/12/2013

Preliminary consolidated sales results AS “Olainfarm” for November show that company’s sales has reached 6.47 million lats (9.21 million euro), which represents an increase by 7% compared to the same period one year ago.   The biggest sales increases have been experienced in The Netherlands, where sales grew by 885%, Lithuania by 102%, Belarus by 93% and Russia by 61%.  Major sales markets of  AS “Olainfarm” in November 2013 were Russia, Ukraine, Latvia and Belarus.  Considerable shipments have also been made to Tajikistan and Uzbekistan.

November 2013, consolidated sales Share in total sales Changes to November 2012
Russia 35% 61%
Ukraine 29% -39%
Latvia 18% 43%
Belarus 6% 93%
Kazakhstan 3% 10%
The Netherlands 2% 885%
Tajikistan 1% NA
Uzbekistan 1% NA
Moldova 1% 54%
Lithuania 1% 102%
Other 2% -47%
Total 100% 7%

 

In eleven months of 2013 according to preliminary consolidated results, the total sales of AS “Olainfarm” was 50.8 million lats (72.28 million euro), which represents an increase by 8% compared to the same period of 2012.  The most rapid sales increases were achieved in The Netherlands, where sales grew by 1953%, Spain, where sales grew by  202% and Belarus, where sales grew by 66%.  Major sales markets of  AS “Olainfarm” in eleven months of 2013 were Russia, Latvia, Ukraine and Belarus.

11 months of 2013, consolidated sales Share in total sales Changes to 11 months of 2012
Russia 38% 18%
Latvia 22% 34%
Ukraine 12% -46%
Belarus 8% 66%
Kazakhstan 4% 11%
UK 3% -10%
Uzbekistan 2% 39%
The Netherlands 1% 1953%
Georgia 1% 41%
Spain 1% 202%
Other 7% 8%
Total 100% 8%

 

Sales of chain of pharmacies SIA “Latvijas aptieka” in November 2013 were 0.82 million lats (1.17 million euro).  52 pharmacies were operating in November 2013.  In eleven months of 2013 sales of SIA “Latvijas aptieka” were 8.62 million lats (12.27 million euro). Sales of SIA “Silvanols” in November 2013 was 0.24 million lats (0.34 million euro).

According to unconsolidated preliminary sales results, sales of AS “Olainfarm” in November were 5.65 million lats (8.04 million euro), which represents an increase by 2% compared to the same period one year ago.  The most rapid sales increases were achieved in the Netherlands, where sales grew by 885%, Belarus, where sales grew by 93%, Russia, where the sales grew by 61%, Moldova, where sales grew by 54% and Latvia, where sales grew by 43%. Products of AS “Olainfarm” worth more than 0.061 million lats (0.087 million euro) have been sold to both Tajikistan and Uzbekistan during November. According to unconsolidated results, the major sales markets of AS “Olainfarm” in November 2013 were Russia, Ukraine, Latvia and Belarus.  In total in November 2013, the sales have been made to 20 countries in three continents.

November 2013, unconsolidated sales Share in total sales Changes to November 2021
Russia 40% 61%
Ukraine 33% -39%
Latvia 8% 43%
Belarus 7% 93%
Kazakhstan 4% 6%
The Netherlands 3% 885%
Tajikistan 1% NA
Uzbekistan 1% NA
Moldova 1% 54%
Lithuania 1% 24%
Other 2% -68%
Total 100% 2%

 

During eleven months according to preliminary unconsolidated sales results, sales of AS “Olainfarm” were 43.61 million lats (62 million euro), which represents an increase by 5% compared to the same period one year ago.   During eleven months of this year the most rapid sales increases were achieved in The Netherlands and Spain, where the sales have grown by 1953% and 202% respectively. Comparatively rapid sales increase has also been witnessed during this period in Latvia, where sales grew by 71%, Belarus, where sales have grown by 66%, as well as Georgia and Uzbekistan, where sales grew by 39%. According to preliminary unconsolidated sales results, the major sales markets of AS “Olainfarm” in eleven months of 2013 were Russia, Ukraine, Latvia, Belarus, Kazakhstan and the UK.  In total during 11 months of 2013 AS “Olainfarm” has been selling its products to 36 countries in 5 continents.

11 months of 2013, unconsolidated result Share in total sales Changes to 11 months of 2012
Russia 45% 18%
Ukraine 14% -46%
Latvia 11% 71%
Belarus 9% 66%
Kazakhstan 4% 11%
UK 4% -10%
Uzbekistan 2% 39%
The Netherlands 1% 1953%
Georgia 1% 39%
Spain 1% 202%
Other 7% -5%
Total 100% 5%

 

Operating plan of AS “Olainfarm” provides that unconsolidated sales of the company in 2012 will reach 45.4 million lats (64.6 million euro), while consolidated sales will reach 52.8 million lats (75.1 million euro). According to these preliminary sales figures in eleven months of 2013 96% of both targets have been attained.


 A/s OlainFarm is one of the biggest pharmaceutical companies in Latvia with 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 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.  

 

Information prepared by:
Salvis Lapins
Member of the Board
A/s „OlainFarm”
Tel: +371 6 7013 717
e-mail: Salvis.Lapins@OlainFarm.lv

Third Quarter 2013 Investor Conference Webinar

11/12/2013

On December 10 AS „Olainfarm” organized its third quarter 2013 Investor Conference Online Webinar for investors. During the webinar the member of the management board of AS „Olainfarm” Salvis Lapiņš analysed the financial results of third quarter of 2013 and adjusted financial prognoses for annual sales.

During the webinar Salvis Lapiņš reminded that in third quarter of 2013, Olainfarm has once again reached new turnover records, recovering sales in Ukraine and increasing pharmacies turnover. At the same time member of the management board indicated that sales in Ukraine on annual basis have decreased more than expected, therefore company has decided to adjust its previously published annual financial targets. Currently it is planned to reach annual consolidated sales of 52.8 M LVL, consolidated profit of 8.8 M LVL, unconsolidated sales of 45.4 M LVL and unconsolidated sales of 7.5 M LVL.

The recorded “Olainfarm” webinar is available online: http://bit.ly/1kyc1nJ, and the presentation, demonstrated during the webinar, can be found in the previously published AS “Olainfarm” announcement: https://newsclient.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=585466&messageId=724010.

Olainfarm thanks all participants, who joined the webinar, and encourages everybody to follow company’s announcements to get information on the next webinar!

Information prepared by:
Salvis Lapins
Member of the Board
A/s „Olainfarm”
Tel: +371 6 7013 717
Cell: +371 2 6448 873
E-mail: slapinsh@olainfarm.lv

Olainfarm will Hold Third Quarter 2013 Investor Conference Webinar

10/12/2013

AS „Olainfarm” invites shareholders, investors, mass media representatives and other stakeholders to join its second quarter 2013 investor conference webinar scheduled on December 10, 2013 at 16:00 (EET).

Webinar will be hosted by the member of the management board Salvis Lapiņš. The presentation will be in English.

During the webinar topics in relation to AS “Olainfarm” latest activities and analysis of third quarter 2013 financial results will be discussed.

After the presentation investors will be welcomed to ask questions. Due to the limited webinar time, please send in your questions in advance till December 9 to e-mail: ieva.kadakovska@nasdaqomx.com.

What is webinar?

Webinar is a virtual conference, during which company’s representative gives information about the company and its future plans. Webinar allows interactive communication and a possibility to ask questions and get answers directly from the company.

How to join the webinar?

To join the webinar, please go to the site http://bit.ly/18akUkV on December 10, 2013 at 16:00, choose „Enter as a guest”, type in your name, surname and click „enter”. You will be then directed to the webinar screen. Prior registration is not necessary.

Additional information on the webinar

All you need to have is a computer with internet connection and headphones. No additional installations of special programs are necessary.
You will be able to ask questions in writing or just listen to the host of webinar.

The enclosed presentation will be presented during the webinar.

Join the webinar and be the first one to hear the news!

A/s OlainFarm is one of the biggest pharmaceutical companies in Latvia with 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 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

Information prepared by:
Salvis Lapins
Member of the Board
A/s „OlainFarm”

Olainfarm will Hold Third Quarter 2013 Investor Conference Webinar

06/12/2013

AS „Olainfarm” invites shareholders, investors, mass media representatives and other stakeholders to join its second quarter 2013 investor conference webinar scheduled on December 10, 2013 at 16:00 (EET).

Webinar will be hosted by the member of the management board Salvis Lapiņš. The presentation will be in English.

During the webinar topics in relation to AS “Olainfarm” latest activities and analysis of third quarter 2013 financial results will be discussed.

After the presentation investors will be welcomed to ask questions.  Due to the limited webinar time, please send in your questions in advance till December 9 to e-mail: ieva.kadakovska@nasdaqomx.com.

 

What is webinar?
Webinar is a virtual conference, during which company’s representative gives information about the company and its future plans. Webinar allows interactive communication and a possibility to ask questions and get answers directly from the company.

How to join the webinar?
To join the webinar, please go to the site http://bit.ly/18akUkV  on December 10, 2013 at 16:00, choose „Enter as a guest”, type in your name, surname and click „enter”. You will be then directed to the webinar screen. Prior registration is not necessary.

Additional information on the webinar
All you need to have is a computer with internet connection and headphones. No additional installations of special programs are necessary.
You will be able to ask questions in writing or just listen to the host of webinar.
Join the webinar and be the first one to hear the news!


A/s OlainFarm is one of the biggest pharmaceutical companies in Latvia with 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 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.  

Information prepared by:
Salvis Lapins
Member of the Board
A/s „OlainFarm”
Tel: +371 6 7013 717
e-mail: Salvis.Lapins@OlainFarm.lv

In Nine Months “Olainfarm” Increases Sales To 37.7 Million Lats

29/11/2013

Consolidated profit and loss statement of AS „Olainfarm” for nine months of 2013 shows that the concern has made a net profit of 6.2 million lats (8.84 million euro). New nine months sales record has been set during this period, as company has made sales of 37.7 million lats (53.6 million euro). This is an increase by 7% compared to 2012.

“We have experienced the most successful thirs quarter in our history, as sales to Ukraine are back to normal. Ukraine historically is one of the main markets of the company. In order to ensure a longer term development and growth we have this year completed nearly 30 registrations in 7 countries and started more registration processes in Turkey, Mongolia and Mexico. In cooperation with other producers we plan to strengthen and widen our geographical presence, especially in CIS countries,” says Valerijs Maligins, Chairman of the Management Board of AS “Olainfarm”.

During 9 months of 2013 sales to all company’s main markets continued increasing except for Ukraine and the UK. The most rapid sales increases during the 9 months of 2013 were achieved to The Netherlands, where sales grew by 2685%, Spain by 202%, Belarus by 62%, Latvia by 32% and Uzbekistan by 20%. Major sales markets of AS “OlainFarm” during the 9 months of 2013 were Russia, Ukraine, Latvia, Belarus and Kazakhstan.

Annual meeting of shareholders of AS “OlainFarm” held on April 29, 2013 approved operating plan of the Concern. According to it, sales of the Concern in 2013 are planned to be 59 million lats (84 million euros), but the net profit will reach 11.5 million lats (16.4 million euros). According to this unaudited report for 9 months of 2013, during this period 64% of annual sales target and 54% of annual profit target is met.


A/s OlainFarm is one of the biggest pharmaceutical companies in Latvia with 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 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

Information prepared by:
Salvis Lapins
Member of the Board
A/s „OlainFarm”
Tel: +371 6 7013 717
e-mail: Salvis.Lapins@OlainFarm.lv

Sales of OlainFarm In October Exceed 6 Million Lats

13/11/2013

Preliminary consolidated sales results of AS “OlainFarm” for October 2013 show that sales have reached 6.11 million lats (8.69 million euro), which is an increase by 2% compared to the same period a year ago.  The biggest sales increases were achieved in Georgia, where sales grew by 165%, Lithuania, where sales grew by 131% and Belarus, where sales grew by 81%.  Major sales markets of AS “OlainFarm” in October 2013 were Russia, Latvia, Ukraine and the UK.  Significant shipments were also made to Turkmenistan.

October 2013, consolidated results Share in total sales Changes to October 2012
Russia 27% -18%
Latvia 19% 19%
Ukraine 17% -37%
UK 9% 50%
Belarus 6% 81%
Kazakhstan 6% 58%
Uzbekistan 4% 62%
Georgia 3% 165%
Lithuania 2% 131%
Turkmenistan 1% NA
Other 5% 12%
Total 100% 2%

 

In ten months of 2013, according to preliminary consolidated figures, sales of AS “OlainFarm” have reached 44.28 million lats (63 million euro), which represents an increase by 8% compared to the same period of 2012. The most rapid sales increases during this period  were achieved in The Netherlands, where sales grew by 3055%, in Spain, where sales grew by 202% and Belarus, where sales grew by 64%.  Major sales markets of AS “OlainFarm” in ten months of 2013 were Russia, Latvia, Ukraine and Belarus.

10 months of 2013, consolidated results Share in total sales Changes to 10 months of 2012
Russia 39% 14%
Latvia 23% 31%
Ukraine 10% -46%
Belarus 8% 64%
Kazakhstan 4% 11%
UK 4% -10%
Uzbekistan 2% 30%
Georgia 1% 48%
The Netherlands 1% 3055%
Spain 1% 202%
Other 7% 7%
Total 100% 8%

 

Sales of SIA “Latvijas aptieka”, a chain of pharmacies owned by AS “OlainFarm” in October 2013 were 0.91 million lats (1.29 million euro).  50 pharmacies of SIA “Latvijas aptieka” were operating during October. In ten months of 2013 sales of SIA “Latvijas aptieka” reached 7.8 million lats (11.1 million euro). Sales of SIA “Silvanols”, partially owned by AS “OlainFarm” in October 2013 were 0.17 million lats (0.24 million euro).

According to preliminary unconsolidated results of AS “OlainFarm”, sales in October 2013 were 5.42 million lats (7.71 million euro), which is just as much as they were during the same period one year ago. The most rapid sales increases were achieved in Georgia, where sales grew by 160%, in Lithuania, where sales grew by 91% and in Belarus, where sales grew by 81%. In October 2013, almost 0.07 million lats (0.98 million euro) worth of products of AS “OlainFarm” were sold to Turkmenistan.  According to unconsolidated results the major sales markets of AS “OlainFarm” during October 2013 were Russia, Ukraine, UK, Latvia, Belarus and Kazakhstan.  In total during October 2013 products of AS “OlainFarm” were sold to 21 countries in 3 continents.

October 2013, unconsolidated results Share in total sales Changes to October 2012
Russia 30% -18%
Ukraine 19% -37%
UK 11% 50%
Latvia 9% 27%
Belarus 7% 81%
Kazakhstan 7% 58%
Uzbekistan 5% 62%
Georgia 4% 160%
Lithuania 1% 91%
Turkmenistan 1% NA
Other 6% 7%
Total 100% 0%

 

According to preliminary unconsolidated results, in ten months of 2013 sales of AS “OlainFarm” have reached 38.13 million lats (54.25 million euro), which represents an increase by 6% compared to the same period of 2012. The most rapid sales increases were achieved in The Netherlands and Spain, where sales grew by 3055% and 202% respectively.  Relatively significant sales increase in ten months has also been achieved in Latvia (by 73%), Belarus (by 64%) and Georgia (by 47%).  According to preliminary unconsolidated results, major sales markets of AS “OlainFarm” in ten months of 2013 were Russia, Ukraine, Latvia, Belarus, Kazakhstan and the UK.  In total in ten months of 2013 products of AS “OlainFarm” were sold to 35 countries in 5 continents.

10 months of 2013, unconsolidated results Share in total sales Changes to 10 months of 2012
Russia 45% 14%
Ukraine 12% -46%
Latvia 11% 73%
Belarus 9% 64%
Kazakhstan 5% 11%
UK 5% -10%
Uzbekistan 2% 30%
Georgia 1% 47%
The Netherlands 1% 3055%
Spain 1% 202%
Other 8% -2%
Total 100% 6%

 

On April 12, 2013 Management Board of AS “OlainFarm” approved an operating plan of the company, which provided that unconsolidated sales of company in 2013 will reach 50 million lats (71.1 million euro), while consolidated sales of the company will reach 59 million lats (83.9 million euro).  According to these preliminary results in ten months of 2013 76% of annual target for unconsolidated sales and 75% of annual target for consolidated sales have been reached.


 A/s OlainFarm is one of the biggest pharmaceutical companies in Latvia with 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 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.  

 

Information prepared by:
Salvis Lapins
Member of the Board
A/s „OlainFarm”
Tel: +371 6 7013 717
e-mail: Salvis.Lapins@OlainFarm.lv

“OlainFarm” Receives An Award For Being The Most Rapidly Growing Listed Company In Latvia

16/10/2013

Today at the „National Capital Awards” ceremony  AS “OlainFarm” received a special award for being the most rapidly growing listed company in Latvia in the list of TOP 101 most valuable Latvian companies.  This year “OlainFarm” has been ranked 15th most valuable company in Latvia, as the value of its business has increased by 58% during a year.

“Increase in company’s value reflects very professional and successful team work that we have been demonstrating over a number of years.   It is a grand total of very many decisions.  Last year price of share of “OlainFarm” in Riga Stock Exchange increased by 50%.  All this successful development allowed us to pay 1.5 million lats in dividends. Over the last number of years we have been actively informing investors about corporate news and results, in webinars we share achievements and plans.  We will continue developing these and other initiatives in order to even further improve the level of investor relations,” Salvis Lapins, Member of the Board of AS “OlainFarm” said.

“Through ambitious and dedicated work the company has achieved excellent results. “OlainFarm” is the last year’s most traded company among all the companies listed in Riga Stock Exchange, besides, its share price has increased the most among all the companies of the Official list,” Daiga Auzina-Melalksne, Chairwoman of “NASDAQ OMX Riga” emphasized. “According to evaluation done by the Stock exchange, ”OlainFarm” has a high corporate management coefficient.  As a listed company it is making its financial disclosures on a regular basis, its operations are closely watched by investors, media and the general public,” said Chairwoman of the Stock Exchange.

Value of the business of AS “OlainFarm” has this year increased by 58% compared to the last year, i.e. from 90.7 million lats (129.05 million euro) in 2012 to 143.6 million lats (204.3 million euro) in 2013.  This has ensured that AS „OlainFarm” has moved up 9 positions in the list of most valuable Latvian companies, from 24th place last year to 15th place in 2013.

Last year at the ceremony of “National Capital Awards” Chairman of the Board of AS “Olainfarm” Valerijs Maligins received a Certificate of Appreciation from President Andris Berzins of Latvia. The Certificate was awarded celebrating impressive growth of the company that has been achieved through successful conquest of export markets.

Top 101 of the most valuable Latvian companies is an annual publication by “Kapitāls” magazine, the winners are celebrated at the National Capital Awards ceremony.  List of the most valuable Latvian companies is being prepared in cooperation with “NASDAQ OMX Riga” and independent investment banking and financial advising company “Prudentia”, informative support is provided by “Lursoft IT”.


 A/s OlainFarm is one of the biggest pharmaceutical companies in Latvia with 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 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.  

Information prepared by:
Salvis Lapins
Member of the Board
A/s „OlainFarm”
Tel: +371 6 7013 717
e-mail: Salvis.Lapins@OlainFarm.lv

Sales of OlainFarm in September increase by 22%

15/10/2013

Preliminary consolidated sales results of AS “OlainFarm” for September 2013 show that sales have reached 5.54 million lats (7.88 million euro), which is an increase by  22% compared to the same period one year ago.  The biggest sales increases wrer achieved in Spain, where sales increased by 167%, sales to Belarus increased by 71%, while sales in Latvian market increased by 41%. Major sales markets of AS “OlainFarm” in September 2013 were Russia, Latvia, Ukraine and Belarus.  Significant shipments to Tajikistan have also been made.

September 2013, consolidated results Share in total sales Changes to September 2013
Russia 38% 18%
Latvia 21% 46%
Ukraine 18% 34%
Belarus 8% 71%
Spain 3% 167%
Kazakhstan 2% -2%
Tajikistan 2% NA
Uzbekistan 2% 31%
Italy 1% 11%
Other 6% -51%
Total 100% 22%

 

According to preliminary consolidated results, sales of AS “OlainFarm” in nine months of 2013 were 38.02 million lats (54.1 million euro), which represents an increase by 8% compared to the same period of 2012.  The most rapid sales increases have been witnessed in The Netherlands, where sales increases by 2685%, as well as Spain  (by 202%) and Belarus, where sales increased by 62%.  Major sales markets of AS “OlainFarm” in nine months of 2013 were Russia, Latvia, Ukraine, Belarus and Kazakhstan.

9 months of 2013, consolidated Share in total sales Changes to 9 months of 2012
Russia 41% 18%
Latvia 23% 32%
Ukraine 9% - 48%
Belarus 8% 62%
Kazakhstan 4% 3%
UK 3% -25%
Uzbekistan 2% 20%
The Netherlands 1% 2685%
Spain 1% 202%
Georgia 1% 14%
Other 7% 1%
Total 100% 8%

 

Sales of Pharmacy chain SIA “Latvijas aptieka” owned by AS “OlainFarm” were record-high in September as they reached 0.83 million lats (1.18 million euro).  49 pharmacies were operating throughout September. In nine months of 2013 sales of SIA “Latvijas aptieka” were 6.89 million lats.  Sales of SIA “SIlvanols” in September 2013 were 0.19 million lats (0.27 million euro).

According to preliminary unconsolidated results sales of AS “OlainFarm” in September 2013 were 4.87 million lats (6.93 million euro), which represents an increase by 22% compared to the respective period of 2012.  The biggest sales increases were achieved in Spain, where sales grew by 167%, sales in Latvia grew by 110%, and sales to Belarus by 71%. 0,09 million lats (0.13 million euro) worth of products have also been sold to Tajikistan.  According to unconsolidated result the major sales markets of AS “OlainFarm” in September 2013 were Russia, Ukraine, Latvia, Belarus and Spain.  Suring September 2013 products of AS “OlainFarm” were sold to 26 countries on 4 continents.

September 2013, unconsolidated results Share in total sales Changes to September 2012
Russia 43% 18%
Ukraine 21% 34%
Latvia 10% 110%
Belarus 9% 71%
Spain 4% 167%
Kazakhstan 2% -2%
Tajikistan 2% NA
Uzbekistan 2% 31%
Italy 1% 11%
Other 6% -54%
Total 100% 22%

 

In nine months of 2013 according to preliminary unconsolidated results sales of AS “OlainFarm” were 32.71 million lats (46.54 million euro), which is an increase by 8% compared to the same period of 2012. The most rapid sales increases during this period have been achieved in The Netherlands and Spain, where sales have grown by 2685% and 202% respectively.  Relatively high rate of increase during this period has also been observed in Latvia (by 82%) and Belarus (by 62%). According to preliminary unconsolidated results major sales markets of AS “OlainFarm” in nine months of 2013 were Russia, Latvia, Ukraine, Belarus, Kazakhstan and the UK. Products to 35 countries have been sold during nine months of 2013.

9 months of 2013, unconsolidated results Share in total sales Changes to 9 months of 2012
Russia 47% 18%
Latvia 11% 82%
Ukraine 11% -48%
Belarus 9% 62%
Kazakhstan 4% 3%
UK 4% -25%
Uzbekistan 2% 20%
The Netherlands 1% 2685%
Spain 1% 202%
Georgia 1% 14%
Other 8% -5%
Total 100% 8%

 

On April 12, 2013 Management Board of AS “OlainFarm” approved an operating plan for the company, providing that unconsolidated sales of the company will reach 50 million lats (71.1 million euro), while consolidated sales of the company will reach 59 million lats (83.9 million euro).  According to these preliminary sales results, during nine months of 2013 65% of unconsolidated sales target and 64% of consolidated sales target have been achieved.


A/s OlainFarm is one of the biggest pharmaceutical companies in Latvia with 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 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.  
Information prepared by:
Salvis Lapins
Member of the Board
A/s „OlainFarm”
Tel: +371 6 7013 717
e-mail: Salvis.Lapins@OlainFarm.lv

Sales of OlainFarm Grow by 13% in August

16/09/2013

Preliminary consolidated results of AS “OlainFarm” for August 2013 show that the sales have reached 4.39 million lats (6.25 million euro), which is by 13% more than during the same period last year.  The biggest sales increases were achieved in Georgia, where sales grew 48 times, sales to Belarus grew by 424%, sales to Kyrgyzstan grew by 81%, and sales to Moldova 40%.  Major sales markets of AS “OlainFarm”in August 2013 were Russia, Latvia, Ukraine and Belarus.

August 2013, consolidated results Share in total sales Changes to August 2012
Russia 42% 4%
Latvia 22% 20%
Ukraine 16% 2%
Belarus 9% 424%
Kazakhstan 4% -24%
Uzbekistan 2% NA
Moldova 1% 40%
Kyrgyzstan 1% 81%
Georgia 0% 4832%
Italy 0% -59%
Other 2% -63%
Total 100% 13%

 

During eight months of 2013 preliminary consolidated sales volume of AS “OlainFarm” reached 32.47 million lats (46.2 million euro) which represents an increase by 6% compared to the same period of 2012. The most rapid sales increases during this period were observed in The Netherlands, where sales grew by 2636%, Kyrgyzstan, where sales grew by 62% and Belarus, where sales grew by 61%.  Major sales markets of AS “OlainFarm” in eight months of 2013 are Russia, Latvia, Belarus and Ukraine.

8 months of 2013, consolidated results Share in total sales Changes to 8 months of 2012
Russia 41% 18%
Latvia 24% 30%
Belarus 8% 61%
Ukraine 8% -59%
Kazakhstan 4% 3%
UK 4% -14%
Uzbekistan 2% 18%
The Netherlands 1% 2636%
Georgia 1% 29%
Kyrgyzstan 1% 62%
Other 7% 5%
Total 100% 6%

 

Sales of pharmacies owned by AS “OlainFarm” during August 2013 were 0.74 million lats (1.05 million euro).  In eight months these pharmacies had a total sales of 6.04 million lats (8.6 million euro).

According to preliminary unconsolidated results, sales of AS “OlainFarm” during August 2013 were 3.81 million lats (5.42 million euro), which represents an increase by 14% compared to the same period of 2012. The most rapid sales increases were achieved in georgia, where sales grew by 4832%, Belarus, where sales grew by 424% and Kyrguzstan, where sales grew by 81%.  According to unconsolidated results the major sales markets of AS “OlainFarm” during August 2013 were Russia, Ukraine, Belarus and Latvia.

August 2013, unconsolidated results Share in total sales Changes to August 2012
Russia 49% 4%
Ukraine 18% 2%
Belarus 11% 424%
Latvia 11% 50%
Kazakhstan 5% -24%
Uzbekistan 3% NA
Moldova 1% 40%
Kyrgyzstan 1% 81%
Georgia 1% 4832%
Italy 1% -59%
Other 1% -78%
Total 100% 14%

 

According to preliminary results, the unconsolidated sales of AS “OlainFarm” in eight months of 2013 were 27.84 million lats (39.61 million euro), which represents an increase by 5% compares to the same period of 2012.  The most rapid sales increases during eight months of this year have been achieved in The Netherlands and in Latvia, where sales increased by 2636% and 79% respectively.  According to preliminary unconsolidated reaults, the major sales markets of AS “OlainFarm” in eight months of 2013 were Russia, Latvia, Belarus, Ukraine and Kazakhstan.

8 months of 2013, unconsolidated results Share in total sales Changes to 8 months of 2012
Russia 48% 18%
Latvia 12% 79%
Belarus 10% 61%
Ukraine 9% -59%
Kazakhstan 5% 3%
UK 4% -14%
Uzbekistan 2% 18%
The Netherlands 2% 2636%
Georgia 1% 29%
Kyrgyzstan 1% 62%
Other -1% 8%
Total 100% 5%

 

On April 12 Board of AS “OlainFarm” approved operating plan of the Company for 2013, according to which unconsolidated sales of the company in 2013 will be as high as 50 million lats (71.1 million euro), while consolidated sales will be as high as 59 million lats (83.9 million lats). According to these preliminary sales figures, during eight months 56% of target for unconsolidated sales and 55% of target for consolidated sales have been made.


 AS OlainFarm is one of the biggest pharmaceutical companies in Latvia with 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 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

Information prepared by:

Salvis Lapins
Member of the Board
AS „OlainFarm”
Tel: +371 6 7013 717
e-mail: Salvis.Lapins@OlainFarm.lv

Second Quarter 2013 Investor Conference Webinar

10/09/2013

On September 10 AS „Olainfarm” organized its second quarter 2013 Investor Conference Online Webinar for investors. During the webinar the member of the management board of AS „Olainfarm” Salvis Lapiņš analysed the financial results of second quarter of 2013 and discussed results in context of previously published annual forecasts.

During the webinar Salvis Lapiņš reminded that in second quarter of 2013, Olainfarm have reached new profit and turnover records and also analyzed factors that have influenced financial results in this period. One of such factors was mentioned fluctuations in Russian ruble rate against Euro that have decreased profit for the second quarter by around 0.4 million LVL. At the same time member of the board indicated that those fluctuations are taken into account when signing agreements and further on it is planned to negotiate this exchange rate with wholesalers on a quarterly basis. In the webinar it was also indicated that sales decrease in Ukraine that has happened due to significant over-shipment in the end of 2012 have strong impact on current financial results, though currently sales to this country have started to recover and if such a trend continues, management believes it is realistic to reach annual sales and profit forecasts.

Salvis Lapiņš also invited investors to discussion about possible Olainfarm stock split-off, which would tenfold the number of company’s shares with nominal value of 0.1 LVL per share. Idea about such split-off was introduced based on the fact that one share of Olainfarm is currently one of the most expensive ones in Baltic market and company has a broad retail investor base.

The recorded “Olainfarm” webinar is available online: http://ej.uz/OLF10SEPT2013, and the presentation, demonstrated during the webinar, can be found in the previously published AS “Olainfarm” announcement: https://newsclient.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=572489&messageId=707299.

Olainfarm thanks all participants, who joined the webinar, and encourages everybody to follow company’s announcements to get information on the next webinar!

A/s OlainFarm is one of the biggest pharmaceutical companies in Latvia with 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 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.  

Information prepared by:

Salvis Lapins
Member of the Board
A/s „Olainfarm”
Tel: +371 6 7013 717
Cell: +371 2 6448 873
E-mail: slapinsh@olainfarm.lv

Olainfarm will Hold Investor Conference Webinar about Recent Developments

10/09/2013

„Olainfarm” invites shareholders, investors, mass media representatives and other stakeholders to join its investor conference webinar scheduled on September 10, 2013 at 16:00 (EET).

Webinar will be hosted by the member of the management board Salvis Lapiņš. The presentation will be in English.

During the webinar topics in relation to AS “Olainfarm” expansion plans and analysis of company’s recent activities and financial results will be discussed.

How to join the webinar?
To join the webinar, please go to the site http://ej.uz/OLF092013 on September 10, 2013 at 16:00, choose „Enter as a guest”, type in your name, surname and click „enter”. You will be then directed to the webinar screen. Prior registration is not necessary.

During the webinar the enclosed presentation will be presented.

A/s OlainFarm is one of the biggest pharmaceutical companies in Latvia with 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 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.  

Information prepared by:
Salvis Lapins
Member of the Board
A/s „OlainFarm”
Tel: +371 6 7013 717
e-mail: Salvis.Lapins@OlainFarm.lv

Olainfarm will Hold Second Quarter 2013 Investor Conference Webinar

06/09/2013

AS „Olainfarm” invites shareholders, investors, mass media representatives and other stakeholders to join its second quarter 2013 investor conference webinar scheduled on September 10, 2013 at 16:00 (EET).

Webinar will be hosted by the member of the management board Salvis Lapiņš. The presentation will be in English.

During the webinar topics in relation to AS “Olainfarm” latest activities and analysis of second quarter 2013 financial results will be discussed.

After the presentation investors will be welcomed to ask questions.  Due to the limited webinar time, please send in your questions in advance till September 9 to e-mail: kristine.kazaka@nasdaqomx.com.

What is webinar?
Webinar is a virtual conference, during which company’s representative gives information about the company and its future plans. Webinar allows interactive communication and a possibility to ask questions and get answers directly from the company.

How to join the webinar?
To join the webinar, please go to the site http://ej.uz/OLF092013 on September 10, 2013 at 16:00, choose „Enter as a guest”, type in your name, surname and click „enter”. You will be then directed to the webinar screen. Prior registration is not necessary.

Additional information on the webinar
All you need to have is a computer with internet connection and headphones. No additional installations of special programs are necessary.
You will be able to ask questions in writing or just listen to the host of webinar.
Join the webinar and be the first one to hear the news!

AS OlainFarm is one of the biggest pharmaceutical companies in Latvia with 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 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

Information prepared by:

Salvis Lapins
Member of the Board
AS „OlainFarm”
Tel: +371 6 7013 717
e-mail: Salvis.Lapins@OlainFarm.lv

“OlainFarm” Sets Another Sales and Profits Record

30/08/2013

OlainFarm’s unaudited profit and loss statement for the first half of 2013 shows that the company had a turnover of 24.3 million lats (34.6 million euros). It is 7% more than in the same period last year. Consequently, the first half of 2013 is the most successful in terms of turnover of “OlainFarm” history.

“In the first half of the year “OlainFarm” has managed to achieve yet another sales record. We plan to retain this acceleration and increase it, because the seasonality affects the pharmaceutical industry in a way that the second half of the year is more successful. Strategically we will continue to develop in the same direction – introduce new products, will acquire and strengthen our presence in the pharmaceutical markets. This will be achieved by closer co-operation with other manufacturers for product distribution in the CIS and other countries. Simultaneously we are expanding the “Latvijas aptieka” network and we are actively engaging in medical device and food supplements sub segment that is possible after “OlainFarm” acquired the stocks of  “Silvanols”,” says Valerijs Maligins, Chairman of OlainFarm’s Board.

“OlainFarm” profit after tax during this period was 3.63 million lats (5.16 million euros). Particularly successful and thus also the most profitable 2nd quarter in company’s history has been the 2nd quarter of 2013, in which the net profit reached 1.68 million lats (2.39 million euros), which is an increase by almost 30% compared to the same period last year.

In the first half of 2013 there have been 18 completed registrations of “OlainFarm” products in 7 different countries, as well as started the registration processes in Turkey and Mongolia. The work also continues on a number of new drug form developments including clinical studies of injectible form of Kapikor (Olvazol).

“OlainFarm” in May 2013, received a discount of 5,21 million lats to the corporate income tax (CIT) for long term investments programme.

In the first half of 2013 “OlainFarm” became the main stockholder in the third biggest Latvian pharmaceutical company “Silvanols” by acquiring 70,88% stock.

Sales volumes continued to grow in all key business markets, except Ukraine, where it fell by 63% compared to the first half of 2012. This is due to the fact that AS “OlainFarm” overshipped products to Ukraine in the 4th quarter of 2012, resulting in sales to Ukraine in 2013 being smaller than usual. The most rapid growth in the first half of 2013 was achieved in The Netherlands where sales increased by 1982%. In Canada, it has almost tripled, while in Belarus sales increased by 33% Latvia by 32% and Russia by 26%. “OlainFarm’s” biggest markets in the first half of 2013 were Russia, Belarus, Latvia, Ukraine and the United Kingdom.

Annual meeting of shareholders of AS “OlainFarm” held on April 29, 2013 approved operating plan of the Concern.  According to it, sales of the Concern in 2013 are planned to be 59 million lats  (84 million euros), but the net profit will reach 11,5 million lats (16,4 million euros).  According to this unaudited report for 2 quarters of 2013, 41% of annual sales plan and 32% of annual profit target have been achieved.


AS OlainFarm is one of the biggest pharmaceutical companies in Latvia with 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 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

Information prepared by:

Salvis Lapins
Member of the Board
AS „OlainFarm”
Tel: +371 6 7013 717
e-mail: Salvis.Lapins@OlainFarm.lv

Sales of OlainFarm in July Reaches 3.86 Million Lats

15/08/2013

Preliminary consolidated sales figures of AS “OlainFarm” for July show that sales have reached 3.86 million lats (5.5 million euro), which is 5% less than a year ago. The biggest sales increases were achieved in Belarus (growth by 600%) and Kazakhstan (growth by 109%). Major sales markets of AS “OlainFarm” during July 2013 were Russia, Ukraine and Latvia.

 

July 2013, consolidated results Share in total sales Changes to July 2012
Russia 44% 0%
Latvia 25% 30%
Ukraine 12% -60%
Belarus 5% 600%
The Netherlands 3% NA
Kazakhstan 2% 109%
Uzbekistan 2% -52%
India 1% 11%
Turkmenistan 1% NA
Poland 1% -7%
Other 3% 15%
Total 100% -5%

During the first seven months of 2013 according to preliminary results total consolidated sales of AS “OlainFarm” were 28.1 million lats (40 million euro), which represents an increase by 5% compared to similar period of 2012. The most rapid sales increases were achieved in the Netherlands, where sales grew by 2636%, Spain, where sales grew by 240% and Canada, where sales grew by 198%.  Major sales markets of AS “OlainFarm” during the first seven months of 2013 were Russia, Latvia, Belarus, Ukraine and United Kingdom.

 

Seven months of 2013, consolidated results Share in total sales Changes to seven months of 2012
Russia 41% 21%
Latvia 24% 31%
Belarus 8% 42%
Ukraine 6% -66%
UK 4% -14%
Kazakhstan 4% 10%
The Netherlands 2% 2636%
Georgia 1% 19%
Canada 1% 198%
Spain 1% 240%
Other 8% -1%
Total 100% 5%

Sales of pharmacies owned by AS “OlainFarm” during July 2013 were 0,76 million lats (1.08 million euro). Sales of pharmacies during seven months of 2013 were 5.3 million lats (7.5 million euro). Meanwhile, sales of SIA “Silvanols”, a company AS “OlainFarm” holds a 70.88% ownership stake in, reached 0.13 million lats in July.

According to preliminary unconsolidated results of AS “OlainFarm”, sales made during July 2013 were 3.24 million lats (4.61 million euro), which represents an decrease by 9% compared to similar period of 2012. The most rapid sales increases were achieved in Georgia (growth by 1614%), Belarus (growth by 600%) and Latvia (growth by 67%). According to unconsolidated results the major sales markets of AS “OlainFarm” in July 2013 were Russia, Ukraine, Latvia and Belarus.

 

July 2013, unconsolidated results Share in total sales Changes to July 2012
Russia 52% 0%
Ukraine 14% -60%
Latvia 13% 67%
Belarus 6% 600%
The Netherlands 3% NA
Kazakhstan 3% NA
Uzbekistan 2% -52%
India 2% 11%
Turkmenistan 1% NA
Georgia 1% 1614%
Other 2% -52%
Total 100% -9%

In seven months of 2013 according to preliminary unconsolidated results the sales of AS “OlainFarm” have reached 24 million lats (34.15 million euro), which represents an increase by 4% compared to similar period of 2012. The most rapid sales increases during seven months have been achieved in the Netherlands (growth by 2636%), and Spain (growth by 240%). According to preliminary unconsolidated results, the major sales markets of AS “OlainFarm” in seven months of 2013.gada were Russia, Latvia, Belarus, Ukraine and United Kingdom.

 

Seven months of 2013, unconsolidated results Share in total sales Changes to seven months of 2012
Russia 48% 21%
Latvia 12% 84%
Belarus 9% 42%
Ukraine 8% -66%
UK 5% -14%
Kazakhstan 4% 10%
The Netherlands 2% 2636%
Georgia 1% 19%
Canada 1% 198%
Spain 1% 240%
Other 9% -5%
Total 100% 4%

 

An Annual General Meeting of AS “OlainFarm” held on April 12, approved operating plan of the company for 2013, according to which the target of 50 million lats (71.1 million euro)  was set for unconsolidated sales and target of 59 million lats (83.9 million euro) was set for consolidated sales. According to these preliminary results in seven months of 2013, 48% of annual target of unconsolidated sales and 56% of annual target for consolidated sales have been achieved.

Information prepared by:

Salvis Lapins
Member of the Board
A/s „OlainFarm”
Tel: +371 6 7013 717
e-mail: Salvis.Lapins@OlainFarm.lv


A/s OlainFarm is one of the biggest pharmaceutical companies in Latvia with 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 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

Investor Conference Webinar about Olainfarm’s recent developments

19/07/2013

On July 18 AS „Olainfarm” organized its Investor Conference Online Webinar for investors to inform about the company’s recent developments.

During the webinar the member of the management board of AS „Olainfarm” Salvis Lapiņš gave an in-depth analysis about company’s 2013 first quarter financial results and informed about sales in first half of the year. Salvis Lapiņš also gave a presentation about SIA „Silvanols” history, type of business, financial results and future prospects.

During the conference Salvis Lapiņš noted that the production volume of SIA „Silvanols” can be increased aprox. 3 times, thus allowing the company to increase its sales and reach the target – 10 million lats turnover in nearest 5 years.

Answering questions sent in by the investors, Salvis Lapiņš approved that sales of AS “Olainfarm” will increase in the second half of the year.

The recorded “Olainfarm” webinar is available online:http://ej.uz/OLFJulyrec,and the presentation, demonstrated during the webinar, can be found in the previously published AS “Olainfarm” announcement: https://newsclient.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=565928&messageId=698818.

Olainfarm thanks all participants, who joined the webinar, and encourages everybody to follow company’s announcements to get information on the next webinar!

Information prepared by:

Salvis Lapins
Member of the Board
A/s „Olainfarm”
Tel: +371 6 7013 717
Cell: +371 2 6448 873
E-mail: slapinsh@olainfarm.lv

Olainfarm will Hold Investor Conference Webinar about Recent Developments

18/07/2013

AS „Olainfarm” invites shareholders, investors, mass media representatives and other stakeholders to join its investor conference webinar scheduled on July 18, 2013 at 16:00 (EET).
Webinar will be hosted by the member of the management board Salvis Lapiņš. The presentation will be in English.
During the webinar topics in relation to AS “Olainfarm” expansion plans and analysis of company’s recent activities and financial results will be discussed.

How to join the webinar?

To join the webinar, please go to the site http://ej.uz/OlainfarmJuly2013 on July 18, 2013 at 16:00, choose „Enter as a guest”, type in your name, surname and click „enter”. You will be then directed to the webinar screen. Prior registration is not necessary.
During the webinar the enclosed presentation was presented.
A/s OlainFarm is one of the biggest pharmaceutical companies in Latvia with 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 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

Webinar Presentation 1st quarter of 2013

Information prepared by:
Salvis Lapins
Member of the Board
A/s „OlainFarm”
Tel: +371 6 7013 717
e-mail: Salvis.Lapins@OlainFarm

Sales of OlainFarm in June Reaches 4.75 Million Lats

15/07/2013

Preliminary consolidated sales figures of AS “OlainFarm” for June show that sales have reached 4.75 million lats (6.76 million euro), which is 14% more than a year ago. The biggest sales increases were achieved in Turkmenistan (growth by 434%), United Kingdom (growth by 50%) and Kazakhstan (growth by 31%). Major sales markets of AS “OlainFarm” during June 2013 were Russia, Ukraine and Latvia.

 

June 2013, consolidated results Share in total sales Changes to June 2012

 

Russia 32% 18%
Ukraine 16% 27%
UK 12% 50%
Latvia 20% 20%
Belarus 5% -39%
Kazakhstan 5% 31%
Canada 2% NA
Turkmenistan 1% 434%
Lithuania 1% 10%
Georgia 1% -23%
Other 5% -42%
Total 100% 14%

 

During the first six months of 2013 according to preliminary results total consolidated sales of AS “OlainFarm” were 24.43 million lats (34.76 million euro), which represents an increase by 8% compared to similar period of 2012. The most rapid sales increases were achieved in the Netherlands, where sales grew by 1982%, Spain, where sales grew by 233% and Canada, where sales grew by 198%.  Major sales markets of AS “OlainFarm” during the first six months of 2013 were Russia, Latvia, Belarus, Ukraine and United Kingdom.

 

 

Six months of 2013, consolidated results Share in total sales Changes to six months of 2012

 

Russia 41% 26%
Latvia 24% 32%
Belarus 8% 33%
Ukraine 6% -63%
UK 5% -14%
Kazakhstan 4% 5%
Uzbekistan 1% 22%
The Netherlands 1% 1982%
Canada 1% 198%
Georgia 1% 2%
Other 8% 7%
Total 100% 8%

 

Sales of pharmacies owned by AS “OlainFarm” during June 2013 were 0,73 million lats (1.04 million euro). Sales of pharmacies during six months of 2013 were 4.6 million lats (6.5 million euro). Meanwhile, sales of SIA “Silvanols”, a company AS “OlainFarm” holds a 70.88% ownership stake in, reached 0.13 million lats in June.

 

According to preliminary unconsolidated results of AS “OlainFarm”, sales made during June 2013 were 4.13 million lats (5.88 million euro), which represents an increase by 8% compared to similar period of 2012. The most rapid sales increases were achieved in Turkmenistan (growth by 434%), Latvia (growth by 59%) and United Kingdom (growth by 50%). According to unconsolidated results the major sales markets of AS “OlainFarm” in June 2013 were Russia, Ukraine, United Kingdom and Latvia.

 

June 2013, unconsolidated results Share in total sales Changes to June 2012
Russia 37% 18%
Ukraine 18% 27%
UK 14% 50%
Latvia 9% 59%
Belarus 6% -39%
Kazakhstan 5% 31%
Canada 2% NA
Turkmenistan 1% 434%
Georgia 1% -23%
Lithuania 1% 1%
Other 5% -50%
Total 100% 15%

 

In six months of 2013 according to preliminary unconsolidated results the sales of AS “OlainFarm” have reached 20.98 million lats (29.85 million euro), which represents an increase by 8% compared to similar period of 2012. The most rapid sales increases during six months have been achieved in the Netherlands (growth by 1982%), and Canada (growth by 198%). According to preliminary unconsolidated results, the major sales markets of AS “OlainFarm” in six months of 2013.gada were Russia, Latvia, Belarus, Ukraine and United Kingdom.

 

Six months of 2013, unconsolidated results Share in total sales Changes to six months of 2012

 

Russia 47% 26%
Latvia 11% 87%
Belarus 10% 33%
Ukraine 7% -63%
UK 5% -14%
Kazakhstan 5% 5%
Uzbekistan 2% 22%
The Netherlands 2% 1982%
Canada 1% 198%
Georgia 1% 2%
Other 9% 5%
Total 100% 8%

 

An Annual General Meeting of AS “OlainFarm” held on April 29, approved operating plan of the company for 2013, according to which the target of 50 million lats (71.1 million euro)  was set for unconsolidated sales and target of 59 million lats (83.9 million euro) was set for consolidated sales. According to these preliminary results in six months of 2013, 41.9% of annual target of unconsolidated sales and 41.4% of annual target for consolidated sales have been achieved.

Information prepared by:

Salvis Lapins
Member of the Board
A/s „OlainFarm”
Tel: +371 6 7013 717
e-mail: Salvis.Lapins@OlainFarm.lv

 


A/s OlainFarm is one of the biggest pharmaceutical companies in Latvia with 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 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

Olainfarm will Hold Investor Conference Webinar Providing Company Update

12/07/2013

AS „Olainfarm” invites shareholders, investors, mass media representatives and other stakeholders to join its investor conference webinar scheduled on July 18, 2013 at 16:00 (EET).

Webinar will be hosted by the member of the management board Salvis Lapiņš. The presentation will be in English.

During the webinar topics in relation to AS “Olainfarm” recent activities and analysis of company’s recent financial results will be discussed.

After the presentation investors will be welcomed to ask questions.  Due to the limited webinar time, please send in your questions in advance till July 16 to e-mail: ieva.kadakovska@nasdaqomx.com.

 

What is webinar?
Webinar is a virtual conference, during which company’s representative gives information about the company and its future plans. Webinar allows interactive communication and a possibility to ask questions and get answers directly from the company.

How to join the webinar?
To join the webinar, please go to the site http://ej.uz/OlainfarmJuly2013 on July 18, 2013 at 16:00, choose „Enter as a guest”, type in your name, surname and click „enter”. You will be then directed to the webinar screen. Prior registration is not necessary.

Additional information on the webinar
All you need to have is a computer with internet connection and headphones. No additional installations of special programs are necessary.
You will be able to ask questions in writing or just listen to the host of webinar.
Join the webinar and be the first one to hear the news!

A/s OlainFarm is one of the biggest pharmaceutical companies in Latvia with 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 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

Information prepared by:

Salvis Lapins
Member of the Board
A/s „OlainFarm”
Tel: +371 6 7013 717
e-mail: Salvis.Lapins@OlainFarm.lv

Sales of OlainFarm in May Reaches 3.38 Million Lats

17/06/2013

Preliminary consolidated sales figures of AS “OlainFarm” for May show that sales have reached 3.38 million lats (4.8 million euro), which is 7% more than a year ago. The biggest sales increases were achieved in Kyrgyzstan (growth by 152%), Uzbekistan (growth by 111%) and Georgia (growth by 108%). Major sales markets of AS “OlainFarm” during May 2013 were Russia, Latvia and Belarus.

 

May 2013,   consolidated results Share in total   sales Changes to May 2012
Russia 41% 27%
Latvia 28% 33%
Belarus 11% 30%
Tajikistan 3% NA
Kazakhstan 3% -48%
The   Netherlands 3% NA
Kyrgyzstan 2% 152%
Uzbekistan 2% 111%
Georgia 1% 108%
Lithuania 1% 72%
Other 3% -86%
Total 100% 7%

 

During the first five months of 2013 according to preliminary results total consolidated sales of AS “OlainFarm” were 19.68 million lats (28 million euro), which represents an increase by 7% compared to similar period of 2012. The most rapid sales increases were achieved in the Netherlands, where sales grew by 1982%, Spain, where sales grew by 233% and Tajikistan, where sales grew by 129%.  Major sales markets of AS “OlainFarm” during the first five months of 2013 were Russia, Latvia, Belarus, Tajikistan and Kazakhstan.

 

5 months of 2013,   consolidated results Share in total   sales Changes to five   months of 2012
Russia 42% 28%
Latvia 25% 35%
Belarus 9% 59%
Ukraine 4% -77%
Kazakhstan 4% -1%
UK 3% -39%
The   Netherlands 2% 1982%
Uzbekistan 2% 41%
Spain 1% 233%
Tajikistan 1% 129%
Other 7% 2%
Total 100% 7%

 

Sales of pharmacies owned by AS “OlainFarm” during May 2013 were 0,8 million lats (1.14 million euro). Sales of pharmacies during 5 months of 2013 were 3.83 million lats (5.45 million euro).

According to preliminary unconsolidated results of AS “OlainFarm”, sales made during May 2013 were 2.84 million lats (4.04 million euro). The most rapid sales increases were achieved in Kyrgyzstan (growth by 152%), Uzbekistan (growth by 111%) and un Georgia (growth by 108%).  According to unconsolidated results the major sales markets of AS “OlainFarm” in May 2013 were Russia, Latvia, Belarus and Tajikistan.

 

May 2013,   unconsolidated results Share in total   sales Changes to May 2012
Russia 49% 27%
Latvia 15% 78%
Belarus 13% 30%
Tajikistan 4% NA
Kazakhstan 4% -48%
The   Netherlands 4% NA
Kyrgyzstan 3% 152%
Uzbekistan 2% 111%
Georgia 1% 108%
Lithuania 1% 72%
Other 4% -86%
Total 100% 6%

 

In 5 months of 2013 according to preliminary unconsolidated results the sales of AS “OlainFarm” have reached 16.85 million lats (23.98 million euro), which represents an increase by 6% compared to similar period of 2012.  The most rapid sales increases during five months have been achieved in the Netherlands (growth by 1982%), and Spain (growth by 233%). According to preliminary unconsolidated results, the major sales markets of AS “OlainFarm” in five months of 2013.gada were Russia, Latvia, Belarus, Ukraine and Kazakhstan.

 

Five months of   2013, unconsolidated results Share in total   sales Changes to five   months of 2012
Russia 50% 28%
Latvia 12% 93%
Belarus 11% 59%
Ukraine 5% -77%
Kazakhstan 5% -1%
UK 3% -39%
The   Netherlands 2% 1982%
Uzbekistan 2% 41%
Spain 1% 233%
Tajikistan 1% 129%
Other 9% 2%
Total 100% 6%

 

An Annual General Meeting of AS “OlainFarm” held on April 29, approved operating plan of the company for 2013, according to which the target of 50 million lats (71.1 million euro)  was set for unconsolidated sales and target of 59 million lats (83.9 million euro) was set for consolidated sales.  According to these preliminary results in five months of 2013, 33.7% of annual target of unconsolidated sales and 33.4% of annual target for consolidated sales have been achieved.

Information prepared by:

Salvis Lapins
Member of the Board
AS „OlainFarm”
Tel: +371 6 7013 717
e-mail: Salvis.Lapins@OlainFarm.lv


AS OlainFarm is one of the biggest pharmaceutical companies in Latvia with 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 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

“OlainFarm” acquires controlling stake in “Silvanols”

04/06/2013

AS “OlainFarm” has acquired 23.37% more shares in Latvian pharmaceutical company SIA “Silvanols”, therefore “OlainFarm” now holds controlling interest in “Silvanols”. Before that AS “OlainFarm” already owned 47.51% of the company’s shares.

“Acquisition of “Silvanols” is one of the ways for “OlainFarm” to further consolidate its positions and expand the production of medications. We see a good opportunity to increase the speed of growth by merging expertise, experience and export potential of the two companies and by creating and developing joint projects,” says Salvis Lapiņš, a member of AS “OlainFarm” board.

AS “OlainFarm” currently owns 70.88% of the company’s shares, “Silvanols” co-owner Ieva Leimane – 15.41%, Agris Auce – 10.39%, and Sandra Ivanova – 3.31% of SIA “Silvanols” shares.

Sales of SIA „Silvanols” in 2012 were 1.993 million lats and the company made a net profit of 136 thousand lats.

Consolidated profit and loss statement of AS “OlainFarm” for 2012 shows that the concern has set yet another profit record as it has made a net profit of 9.75 million lats (13.88 milion euro).  This represents an increase by 41% compared to 2011, when profit of  AS “OlainFarm” was 6.91 million lats (9.84 million euro).


A/s OlainFarm is one of the biggest pharmaceutical companies in Latvia with 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 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

SIA “Silvanols” is one of the most rapidly growing Latvian producers of medicines. In its operations SIA “Silvanols” uses modern internationally applied technologies. Products portfolio of the company consists of unique set of original products, including over-the-counter medicines, medical devices and food supplements, in total more than 70 different original products. Company is particularly proud of their original products, including market leader Faringo Spray®, anti-rhinitis gel Rinogēls® and sedative mixture of 7 different herbs  Relaxen®. Currently products of the company are being exported to Lithuania, Estonia, Azerbaijan, Romania, Czech Republic, Hungary, Belarus, Kazakhstan, Slovakia and Armenia.

Information prepared by:

Salvis Lapins
Member of the Board
AS „OlainFarm”
Tel: +371 6 7013 717
e-mail: Salvis.Lapins@OlainFarm.lv

“OlainFarm” sales in Q1 2013 reach 12.6 million lats

30/05/2013

AS “OlainFarm” sales during the 1st quarter of 2013 have reached 12.6 million lats (17.9 million euro), which represents a 4% year-on-year growth. Thus, based on sales figures, Q1 2013 has been the most successful first quarter of the year in the company’s history. The biggest increases in sales during Q1 2013 were achieved in Kyrgyzstan (+78%), Belarus (+72%), Uzbekistan (+64%) and Great Britain (+51%).

 

“This year, we are planning to expand our operations by acquiring new pharmacies and other pharmaceuticals-related companies. The first step is our purchase of shares in SIA “Silvanols”, which will allow AS “OlainFarm” to involve itself more actively in medical equipment and food supplement sub-segments. AS “OlainFarm” recently received a corporate income tax exemption for approved investments in our project “Introduction of new products and improved exporting capacity”, which is a significant government-level acclaim of our work. We will continue to strengthen our positions and to develop by ensuring that announcements of AS “OlainFarm” record-breaking quarterly results become a regular occurrence,” says Valērijs Maligins, Chairman of the Board of AS “OlainFarm”.

 

During the 1st quarter of 2013 AS “OlainFarm” sales continued to increase in all of the company’s main markets, except for Ukraine, where they decreased by 71% year-on-year. However, SIA “OlainFarm” had already expected import difficulties in the Ukraine market and made extra shipments to the country in the 4th quarter of 2012. Major sales markets of AS “OlainFarm” during Q1 2013 were Russia, Ukraine, Latvia, Belarus and the UK.

AS “OlainFarm” consolidated profit and loss statement for the 1st quarter of 2013 shows that the company has made a net profit of 1.95 million lats (2.78 million euro), which is a 19% year-on-year decrease. Reduction of sales to Ukraine has made a significant impact on the company’s profitability.

During the 1st quarter of 2013 4 products have been registered in Ukraine, Turkmenistan, Russia and Belarus. These include Kapikor (Olvazol), a heart drug which can be used for strengthening the heart and cardiovascular system in acute cases of myocardial infarction or stroke.  The company has also reached an agreement about the commencement of product registration process in Turkey, while work has been started on developing several new final dosage forms.

AS “OlainFarm” budget and operating plan for 2013 sets targets for consolidated sales to reach 59 million lats (84 million euro) and net profit to reach 11.5 million lats (16.4 million euro). According to the unaudited report, during the 1st quarter of 2013 21% of the annual sales target and 17% of the annual profit target have been met.


AS OlainFarm is one of the biggest pharmaceutical companies in Latvia with 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 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia. 

Information prepared by:

Salvis Lapins
Member of the Board
AS „OlainFarm”
Tel: +371 6 7013 717
e-mail: Salvis.Lapins@OlainFarm.lv

Investor Conference Webinar about Olainfarm’s recent developments

16/05/2013

On May 15 AS „Olainfarm” organized its Investor Conference Online Webinar for investors to inform about the company’s recent developments.

During the webinar the member of the management board of AS „Olainfarm” Salvis Lapiņš informed that Olainfarm’s invesment program will reach around 26 million lats in fixed assets over the next 5 years. Part of the sum will be co-funded by the European Union funds and other sources. About 14 million lats are planned for Final dosage forms, chemical production and will allow to introduce some new products, while 7 million lats are planned to be invested in increase of company’s energy and environmental efficiency.

Also, Salvis Lapiņš informed that in nearest time the export to Ukraine will be started again, which was temporary stopped due to overshipment.

Answering the questions sent in by the investors, Salvis Lapiņš confirmed that Olainfarm is planning to acquire another 20% of SIA “Silvanols” shares in nearest weeks. Once it is done Olainfarm in total will own almost 70% of Silvanols shares, thus becoming a majority shareholder.

According to Salvis Lapiņš, currently Silvanols capacity is used for about one third, so there are improvements possible.

Also, according to Salvis Lapiņš one of the short term priorities of Olainfarm and a market to focus on is Albania. Company forecasts a significant increase of its sales to Albania. Olainfarm has also succeeded in strengthening its presence in the Lithuanian market and for future markets company is looking at Turkey, South East Asia and other countries.

The recorded “Olainfarm” webinar is available online: http://ej.uz/OLF2013ieraksts, and the presentation, demonstrated during the webinar, can be found in the previously published AS “Olainfarm” announcement: https://newsclient.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=557283&messageId=687539.

Olainfarm thanks all participants, who joined the webinar, and encourages everybody to follow company’s announcements to get information on the next webinar!

 

AS OlainFarm is one of the biggest pharmaceutical companies in Latvia with 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 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.  

Information prepared by:

Salvis Lapins
Member of the Board
AS „Olainfarm”
Tel: +371 6 7013 717
Cell: +371 2 6448 873
E-mail: slapinsh@olainfarm.lv

Sales of OlainFarm in April Reaches 3.78 Million Lats

15/05/2013

Preliminary consolidated sales figures of AS “OlainFarm” for April show that sales have reached 3.78 million lats (5.38 million euro), which is almost for one fifth (17%) more than a year ago.  The biggest sales increases were achieved in Canada (growth by 541%) and Spain (growth by 362%). Major sales markets of AS “OlainFarm” during April 2013 were Russia, Latvia and Belarus.

April 2013,   consolidated results Share in total   sales Changes to April   2012
Russia 36% 32%
Latvia 26% 44%
Belarus 8% 60%
The Netherlands 6% NA
Kazakhstan 5% 53%
Spain 4% 362%
Canada 3% 541%
Germany 3% NA
Uzbekistan 3% 4%
Moldova 1% NA
Other 4% -84%
Total 100% 17%

 

During the first four months of 2013 according to preliminary results total consolidated sales of AS “OlainFarm” were 16.3 million lats (23.2 million euro), which represents an increase by 7% compared to similar period of 2012.  The most rapid sales increases were achieved in the Netherlands, where sales grew by 1291%, Spain, where sales grew by 233% and Belarus, where sales grew by 69%.  Major sales markets of  AS “OlainFarm” during the first four months of 2013 were Russia, Latvia, Belarus, Ukraine and Kazakhstan.

4 months of 2013, consolidated   results Share in total   sales Changes to four   months of 2012
Russia 43% 28%
Latvia 24% 35%
Belarus 9% 69%
Ukraine 5% -74%
Kazakhstan 4% 18%
UK 4% -24%
Uzbekistan 2% 32%
The Netherlands 1% 1291%
Spain 1% 233%
Italy 1% NA
Other 7% -17%
Total 100% 7%

 

Sales of pharmacies owned by AS “OlainFarm” during April 2013 were 0,8 million lats (1.14 million euro). Sales of pharmacies during 4 months o 2013 were 3.05 million lats (4.34 million euro).

According to preliminary unconsolidated results of AS “OlainFarm”, sales made during April 2013 were 3.21 million lats (4.57 million euro). The most rapid sales increases were achieved in Canada (growth by 541%), Spain (growth by 362%) and un Latvia (growth by 130%).  According to unconsolidated results the major sales markets of AS “OlainFarm” in April 2013 were Russia, Latvia, Belarus and The Netherlands.

April 2013, unconsolidated results Share in total sales Changes to April 2012
Russia 42% 32%
Latvia 13% 130%
Belarus 10% 60%
The Netherlands 7% NA
Kazakhstan 6% 53%
Spain 5% 362%
Canada 4% 541%
Germany 4% NA
Uzbekistan 3% 4%
Moldova 1% NA
Other 5% -84%
Total 100% 18%

 

In 4 months of 2013 according to preliminary unconsolidated results the sales of AS “OlainFarm” have reached 14.01 million lats (19.93 million euro), which represents an increase by 6% compared to similar period of 2012.  The most rapid sales increases during four months have been achieved in the Netherlands (growth by 1291%), and Spain (growth by 233%). According to preliminary unconsolidated results, the major sales markets of AS “OlainFarm” in four months of 2013.gada were Russia, Latvia, Belarus, Ukraine and Kazakhstan.

Four months of   2013, unconsolidated results Share in total   sales Changes to four   months of 2012
Russia 50% 28%
Latvia 12% 97%
Belarus 10% 69%
Ukraine 6% -74%
Kazakhstan 5% 18%
UK 4% -24%
Uzbekistan 2% 32%
The Netherlands 2% 1291%
Spain 1% 233%
Italy 1% NA
Other 8% -17%
Total 100% 6%

 

An Annual General Meeting of AS “OlainFarm” held on April 29, approved operating plan of the company for 2013, according to which the target of 50 million lats (71.1 million euro)  was set for unconsolidated sales and target of 59 million lats (83.9 million euro) was set for consolidated sales.  According to these preliminary results in four months of 2013, 28% of annual target of unconsolidated sales and 27.6% of annual target for consolidated sales have been achieved.


 A/s OlainFarm is one of the biggest pharmaceutical companies in Latvia with 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 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.  

Information prepared by:
Salvis Lapins
Member of the Board
A/s „OlainFarm”
Tel: +371 6 7013 717
e-mail:
Salvis.Lapins@OlainFarm.lv

Olainfarm will Hold Investor Conference Webinar about Recent Developments

15/05/2013

AS „Olainfarm” invites shareholders, investors, mass media representatives and other stakeholders to join its investor conference webinar scheduled on May 15, 2013 at 16:00 (EET).

Webinar will be hosted by the member of the management board Salvis Lapiņš. The presentation will be in English.

During the webinar topics in relation to AS “Olainfarm” expansion plans and analysis of company’s recent activities and financial results will be discussed.

How to join the webinar?

To join the webinar, please go to the site http://ej.uz/Olainfarm2013on May 15, 2013 at 16:00, choose „Enter as a guest”, type in your name, surname and click „enter”. You will be then directed to the webinar screen. Prior registration is not necessary.

During the webinar the enclosed presentation was presented.

AS OlainFarm is one of the biggest pharmaceutical companies in Latvia with 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 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

 

Olainfarm will Hold Investor Conference Webinar about Recent Developments

Information prepared by:

Salvis Lapins
Member of the Board
AS „OlainFarm” Tel: +371 6 7013 717
e-mail: Salvis.Lapins@OlainFarm.lv

Olainfarm will Hold Investor Conference Webinar about Recent Developments

08/05/2013

AS „Olainfarm” invites shareholders, investors, mass media representatives and other stakeholders to join its investor conference webinar scheduled on May 15, 2013 at 16:00 (EET).

Webinar will be hosted by the member of the management board Salvis Lapiņš. The presentation will be in English.

During the webinar topics in relation to AS “Olainfarm” expansion plans and analysis of company’s recent activities and financial results will be discussed.

After the presentation investors will be welcomed to ask questions.  Due to the limited webinar time, please send in your questions in advance till May 14 to e-mail: ieva.kadakovska@nasdaqomx.com.

What is webinar?
Webinar is a virtual conference, during which company’s representative gives information about the company and its future plans. Webinar allows interactive communication and a possibility to ask questions and get answers directly from the company.

How to join the webinar?
To join the webinar, please go to the site http://ej.uz/Olainfarm2013 on May 15, 2013 at 16:00, choose „Enter as a guest”, type in your name, surname and click „enter”. You will be then directed to the webinar screen. Prior registration is not necessary.

Additional information on the webinar
All you need to have is a computer with internet connection and headphones. No additional installations of special programs are necessary.
You will be able to ask questions in writing or just listen to the host of webinar.
Join the webinar and be the first one to hear the news!


AS OlainFarm is one of the biggest pharmaceutical companies in Latvia with 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 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.  

Information prepared by:
Salvis Lapins
Member of the Board
AS „OlainFarm”
Tel: +371 6 7013 717
e-mail: Salvis.Lapins@OlainFarm.lv

OlainFarm to Receive Corporate Income Tax Exemption for 5.21 Million Lats

07/05/2013

AS “OlainFarm” will be given corporate income tax exemption for approved long term investments made within the project “Introduction of new products and improved exporting capacity”. This decision was made on the meeting of Cabinet of Ministers held on May 7, and was based on assessment done by the Ministry of Economy about impact such exemption would have on national economy and local competition.  It is planned that the total tax exemption could be as high as 5.21 million lats.

“We are glad about such decision our government has made to provide this tax exemption to AS “OlainFarm”.  It is a very significant support for us to introduce new products and further develop our sales markets,” says Salvis Lapins, Member of the Board of AS “OlainFarm”.

 The project “Introduction of new products and improved exporting capacity” provides that “AS „OlainFarm” will introduce several new products and will significantly adjust several production processes and increase production efficiency. In total, within this project AS „OlainFarm” will invest 22.95 million lats over the course of five years.  Tax exemption will be applicable upon completion of the project.

 Part of the investments that AS “OlainFarm” will make within this project (5.29 million lats) will be merged with co-funding of European Regional Development Fund approved by Latvian Investment and Development Agency as part of “High Added Value Investments “.

 

As regulations of both support programmes allow combining tax exemptions with funding approved as part of other programmes and with the respective eligible costs, investmets worth 5.29 million lats supported by LIDA and ERDF are also included in the support programme adopted by the Cabinet.

Since intensity of the support in LIDA’s project approved for AS “OlainFarm” is 35% of totas eligible costs and since company qualifies as big commercial company, a tax exemption of 15% will be applied for investments made from project approved by LIDA, while the rate of 25% is applicable to other investments worth 17.65 million lats.


 AS OlainFarm is one of the biggest pharmaceutical companies in Latvia with 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 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.  

Information prepared by:

Salvis Lapins
Member of the Board
AS „OlainFarm”
Tel: +371 6 7013 717
e-mail: Salvis.Lapins@OlainFarm.lv

OlainFarm has Acquired 47.5% of Shares in Silvanols

02/05/2013

AS “OlainFarm” has acquired 47.5% shares in the third largest Latvian pharmaceutical manufacturer SIA “Silvanols”.  It is expected that another 20% or more will be acquired in the nearest future. This acquisition will allow both companies to expand their product groups and portfolio and enter and expand into new markets.

“Over last several years OlainFarm has made significant investments in expansion of its product portfolio, sales markets and business segments. Acquisition of Silvanols is yet another step towards vision of OlainFarm to become a leading producer of finished dosage forms and chemical products in the Baltics, whose products is well known and available throughout the world.  We see a very good opportunity to increase the speed of growth by merging expertise, experience and export potential of the two companies and by creating and developing joint projects,says Salvis Lapins, Member of the Board of AS “OlainFarm”.

Co-owner and the Board Member of SIA “Silvanols” Ieva Leimane notes that “this is a logical next step in company’s development.  Having a new shareholder in Silvanols will help the company to develop faster, improve its logistical systems, and, what is particularly important, will provide new export markets for the company. I am sure and our recent experience confirms it, that our products are veru compatitive not only in Latvia but also abroad.”

Chairman of the Board of SIA “Silvanols” Viesturs Gurtlavs emphasizes that “changes that have occurred to list of company’s shareholders will facilitate inflow of new knowledge and experience into Silvanols which will be yet another boost for competitiveness of the company internationally and domestically”.

After the transaction Board Member of Olainfarm Mr. Salvis Lapins has also become a Member of Silvanols’ Board.

Sales of SIA „Silvanols” in 2012 were 1.993 million lats and the company made a net profit of 136 thousand lats.

Consolidated profit and loss statement of AS “OlainFarm” for 2012 shows that the concern has set yet another profit record as it has made a net profit of 9.75 million lats (13.88 milion euro).  This represents an increase by 41% compared to 2011, when profit of  AS “OlainFarm” was 6.91 million lats (9.84 million euro).


A/s OlainFarm is one of the biggest pharmaceutical companies in Latvia with 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 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

SIA “Silvanols” is one of the most rapidly growing Latvian producers of medicines. In its operations SIA “Silvanols” uses modern internationally applied technologies. Products portfolio of the company consists of unique set of original products, including over-the-counter medicines, medical devices and food supplements, in total more than 70 different original products. Company is particularly proud of their original products, including market leader Faringo Spray®, anti-rhinitis gel Rinogēls® and sedative mixture of 7 different herbs  Relaxen®. Currently products of the company are being exported to Lithuania, Estonia, Azerbaijan, Romania, Czech Republic, Hungary, Belarus, Kazakhstan, Slovakia and Armenia.

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

Corporate governance report

29/04/2013

Corporate governance report

 

Decisions



Information prepared by:

Salvis Lapins

Member of the Board

AS „OlainFarm”

Tel: +371 6 7013 717

e-mail: Salvis.Lapins@olainfarm.lv

 

Audited statements of 2012

29/04/2013

CONSOLIDATED ANNUAL REPORT
FOR THE YEAR ENDED 31 DECEMBER 2012

 

ANNUAL REPORT
FOR THE YEAR ENDED 31 DECEMBER 2012



Information prepared by:

Salvis Lapins

Member of the Board

AS „OlainFarm”

Tel: +371 6 7013 717

e-mail: Salvis.Lapins@olainfarm.lv

 

OlainFarm Fully Resumes Production of MAG and Nitrofuranes.

19/04/2013

AS “OlainFarm” announces that as early as April 17 it has resumed production of monoacetilglucose and on April 18 it has resumed production of nitrofuranes on another production line.  Now the factory has completely returned to normal operations and has started the renovation of damaged unit.

The company continues to closely follow the development of health conditions of its employees injured in the accident, and wishes them a speedy recovery.


AS OlainFarm is one of the biggest pharmaceutical companies in Latvia with 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 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia. 

Information prepared by:

Salvis Lapins

Member of the Board
AS „OlainFarm”
Tel: +371 6 7013 717
e-mail: Salvis.Lapins@olainfarm.lv

OlainFarm announcement

17/04/2013

AS “OlainFarm” announces that this morning at 9:20, an explosion caused by toluene vapour occured in the company’s Nitrofurantoine manufacturing plant located in 5 Rūpnicu street, Olaine, which was opened last year. Two people were injured in the explosion and have been hospitalised. The shockwave has smashed the facility’s windows, but only two production lines have been affected. The rest of OlainFarm’s factory continues normal operations. The accident has not resulted in any pollution to the environment, and the company is currently investigating the cause behind it. OlainFarm is taking steps to ensure that the injured employees and their families receive any and all necessary help and support.


AS OlainFarm is one of the biggest pharmaceutical companies in Latvia with 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 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.  

Information prepared by:
Salvis Lapins
Member of the Board
AS „OlainFarm”
Tel: +371 6 7013 717
e-mail: Salvis.Lapins@olainfarm.lv

Sales of OlainFarm in March Reach Nearly 3.6 Million Lats

15/04/2013

Preliminary consolidated sales results of AS “OlainFarm” for March show that sales have reached 3.56 million lats (5.07 million euros).  The major sales increases were achieved in Kyrgyzstan, where sales grew by 222% and Bulgaria where sales grew by 176%.  Major sales markets of  AS “OlainFarm” during March 2013 were Russia, Latvia and Belarus.

 

March 2013, consolidated   results   Share in total   sales Changes to March   2012
Russia 41% -15%
Latvia 29% 28%
Belarus 8% 8%
Kazakhstan 7% 29%
Georgia 3% 31%
Bulgaria 2% 176%
Italy 2% NA
Tajikistan 1% 7%
Spain 1% NA
Kyrgyzstan 1% 222%
Other 5% -87%
Total 100% -19%

During the first three months of 2013 according to preliminary results, sales of AS “OlainFarm” have reached 12.52 million lats (17.81 million euro), which represents an increase by 4% compared to similar period of 2012.  The most rapid sales increases were achieved in Kyrgyzstan, where sales grew by 78%, Belarus, where sales grew by 72% , Uzbekistan, where sales grew by 64% and the UK, where sales grew by 51%. Major sales markets of AS “OlainFarm” during first three months of 2013 were Russia, Latvia, Belarus, Ukraine and the UK.

 

Three months of   2013, consolidated results Share in total   sales Changes to three   months of 2012
Russia 45% 27%
Latvia 23% 34%
Belarus 9% 72%
Ukraine 6% -71%
UK 5% 51%
Kazakhstan 4% 7%
Italy 1% NA
Uzbekistan 1% 64%
Georgia 1% -8%
Kyrgyzstan 1% 78%
Other 4% -43%
Total 100% 4%

Sales of pharmacies owned by AS “OlainFarm” reached 0.8 million lats (1.16 million euro) during March.  During first three months sales of pharmacies reached 2.26 million lats (3.22 million euro).

According to preliminary unconsolidated results of AS “OlainFarm”, sales of the company during March 2013 were 2.92 million lats (4.2 million euro).  The most rapid sales increases were achieved in Kyrgyzstan, where sales grew by 222%, in Belarus, where sales grew by 176% and in Latvia, where sales grew by 53%.  According to unconsolidated results the major sales markets of AS “OlainFarm” in March 2013 were Russia, Latvia, Belarus and Kazakhstan.

 

March 2013, unconsolidated   results  Share in total sales Changes to March 2012
Russia 51% -15%
Latvia 13% 53%
Belarus 10% 8%
Kazakhstan 9% 29%
Georgia 3% 31%
Bulgaria 2% 176%
Italy 2% NA
Tajikistan 2% 7%
Spain 2% NA
Kyrgyzstan 1% 222%
Other 6% -87%
Total 100% -24%

During the first three months of 2013, according to preliminary results volume of unconsolidated sales of AS “OlainFarm” was 10.79 million lats (15.35 million euro), which represents an increase by 3% compared to similar period a year ago. The most rapid sales increases during three months of this year have been achieved in Latvia and Kyrgyzstan, where sales have grown by 86% and 78% respectively.  According to preliminary unconsolidated sales results major sales markets of AS “OlainFarm” during three months of 2013 were Russia, Latvia, Belarus, Ukraine and the UK.

 

Three months of 2013,   unconsolidated results Share in total   sales Changes to three   months of 2012
Russia 52% 27%
Latvia 11% 86%
Belarus 10% 72%
Ukraine 7% -71%
UK 5% 51%
Kazakhstan 4% 7%
Italy 2% NA
Uzbekistan 1% 64%
Georgia 1% -8%
Kyrgyzstan 1% 78%
Other 5% -43%
Total 100% 3%

On April 12, 2013 Management Board of AS “OlainFarm” approved and proposed an operating plan for 2013, providing that the unconsolidated sales of company in 2013 will reach 50 million lats (71,1 million euro), while consolidated sales will reach 59 million lats (83.9 million euro). According to preliminary sales figures contained herein, during three months of 2013, 21.6% of target for unconsolidated sales and 21.2% of annual target for consolidated sales have been met.


 A/s OlainFarm is one of the biggest pharmaceutical companies in Latvia with 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 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.  

Information prepared by:
Salvis Lapins
Member of the Board
AS „OlainFarm”
Tel: +371 6 7013 717
e-mail: Salvis.Lapins@olainfarm.lv

Draft resolutions of the Annual General Meeting of Shareholders of JSC „Olainfarm” to be held on April 29th, 2013:

12/04/2013

1. Report of the Board on results of operations in 2012.

Draft resolution:

To take notice of the Report of the Board on results of operations in 2012.

2. Report of the Council on results of operations in 2012.

Draft resolution:

To take notice of the Report of the Council on results of operations in 2012.

3. Report of the Auditing Committee.

Draft resolution:

To take notice of the Report of the Auditing Committee.

4. Approval of the Audited Annual Report for 2012.

Draft resolution:

To approve the Audited Annual Report of JSC „Olainfarm” for 2012.

5. Approval of the Audited Consolidated Annual Report for 2012.

Draft resolution:

To approve the Audited Consolidated Annual Report of JSC „Olainfarm” for 2012.

6. Distribution of profit of 2012.

Draft resolution:

To use part of the year 2012 profit of JSC “Olainfarm” in amount of 1 507 103,35 lats (2 144 414,87 euro) to pay dividends to shareholders of JSC „Olainfarm”, (ISIN code of the shares LV0000100501) paying 10,7 santims per one share, but part of the profit in amount of 8 500 654,65 lats (12 095 341,87 euro) to reinvest in development of JSC “Olainfarm”.

Set June 17th, 2013, as a record date for dividends and June 21st, 2013, as the date of payment of dividends.

7. Report of the Board on budget and on planned operations in 2013.

Draft resolution:

To take notice of Report of the Board on budget and on planned operations in 2013, which include Company’s unconsolidated turnover forecast for 2013 in amount of 50 million lats (71 million Euro), and JSC „Olainfarm” consolidated turnover forecast for 2013 in amount of 59 million lats (84 million Euro); Forecast of unconsolidated profit of JSC “Olainfarm” is 11 million lats (15,6 million Euro), but consolidated profit is 11,5 million lats (16,4 million Euro).

8. Election of the Certified Auditor for 2013.

Draft resolutions:

8.1. to elect SIA „Ernst & Young Baltic” (license No.17, unitary registration No. 40003593454) to be the certified auditor of JSC „Olainfarm” in 2013.

8.2. to set the total remuneration of certified auditor in accordance with the approved budget.

9. Election of the Auditing Committee.

Draft resolutions:

9.1. to elect Zanna Karaseva to be the sole member of the Auditing Committee.

9.2. to set the total monthly remuneration of the members of the Auditing Committee at 2 250 lats.

10.  Election of the Council

Draft resolutions:

10.1.  to elect the Council of JSC “Olainfarm” consisting of the following members for the further term of five years, setting that this terms commences on April 30th, 2013:

Name, surname, personal details:

1. Olena Dudko;

2. Valentina Andrejeva;

3. Volodymir Kryvozubov;

4. Gunta Veismane;

5. Aleksandrs Raicis.

10.2.  To set the total monthly remuneration of all the Supervisory Council in the amount of _____________.

Resolution on the remuneration of the members of the Council shall be made in accordance with offers of the shareholders.

A/s OlainFarm is one of the biggest pharmaceutical companies in Latvia with 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 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.  

Information prepared by:
Salvis Lapins
Member of the Board
AS „OlainFarm”
Tel: +371 6 7013 717
e-mail: Salvis.Lapins@OlainFarm.lv

Notification of inclusion of additional agenda itemin in the agenda of Annual shareholders meeting of the Joint Stock company „Olainfarm” to be held on 29.04.2013.

12/04/2013

The Management Board of Joint Stock company “Olainfarm” (reg.No. 40003007246, legal address: Rupnicu street 5, Olaine, LV-2114) hereby notifies, that the agenda of the Annual shareholders meeting, which is scheduled for April 29th, 2013, is amended by adding the following additional item:

-          Election of the Council.

Additional item has been included in accordance with the request of the shareholder SIA „Olmafarm” by using rights provided by part 2 of the article 274 of the Commercial law.

The Management Board of Joint Stock company “Olainfarm”

A/s OlainFarm is one of the biggest pharmaceutical companies in Latvia with 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 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.  

Information prepared by:
Salvis Lapins
Member of the Board
AS „OlainFarm”
Tel: +371 6 7013 717
e-mail: Salvis.Lapins@olainfarm.lv

Announcement about convening of the Annual General Meeting of „Olainfarm”

27/03/2013

Management Board of the Joint Stock company “Olainfarm” (registration number. 40003007246, registered address: Rupnicu iela 5, Olaine, LV-2114) announces that the Annual
General Meeting of JSC “Olainfarm” Shareholders will be convened on April 29, 2013 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 2012.
2.    Report of the Council about the results of operations in 2012.
3.    Report of the Auditing Committee.
4.    Approval of the audited Annual Report of 2012.
5.    Approval of the audited consolidated Annual Report of 2012.
6.    Distribution of profit of 2012.
7.    Report of the Management Board about the budget and operational plan for 2013.
8.    Elections of the sworn auditor for 2013 and setting of the remuneration for the sworn auditor.
9.    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. April 29, 2013 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 April 19th, 2013. Only those who are the shareholders at the date of record have the right to participate in the Annual General Meeting of shareholders on April 29, 2013, 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 of 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.nasdaqomxbaltic.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 April 12, 2013 until April 26, 2013 on working 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.
Information about the Annual General Meeting and rights of the shareholders is also available at web page of JSC „Olainfarm” http://www.olainfarm.lv, the system of Central Storage of Regulated Information http://www.oricgs.lv and the web page of JSC „NASDAQ OMX Riga” http://www.nasdaqomxbaltic.com.

Management Board of the JSC „Olainfarm”


 AS OlainFarm is one of the biggest pharmaceutical companies in Latvia with 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 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.  

Information prepared by:
Salvis Lapins
Member of the Board
AS „Olainfarm”
Tel: +371 6 7013 717
e-mail: Salvis.Lapins@olainfarm.lv

In February Olainfarm Makes Sales of 3.5 Million Lats

15/03/2013

Preliminary consolidated results of AS “Olainfarm” for February 2013 show that sales of the company reached 3.49 million lats (4.97 million euros).  The biggest sales increases were achieved in Kyrgyzstan, where sales grew by 240%, and in Belarus where sales grew by 123%.  Major sales markets of  AS “Olainfarm” in February of 2013 were Russia, Latvia and Belarus.

 

February 2013,   consolidated results Share in total   sales Changes to February   2012
Russia 41% 5%
Latvia 26% 27%
Belarus 13% 123%
UK 8% -25%
Kazakhstan 5% -24%
Italy 3% NA
Kyrgyzstan 1% 240%
Canada 1% 8%
Lithuania 1% -52%
Uzbekistan 1% NA
Other 2% -95%
Total 100% -15%

During the first two months of 2013 according to preliminary consolidated results, the sales have reached 8.96 million lats (12.75 million euro), which represents an increase by 18%, compared to similar period of 2012.  The most rapid increases in sales during the first two months were achieved in Belarus, where sales grew by 117%, sales to Russia grew by 55%, sales to the UK grew by 51% and sales to Kyrgyzstan grew by 29%. Major sales market of AS “Olainfarm” during the first two months of 2013 were Russia, Latvia Belarus, Ukraine and the UK.

 

Two months of 2013,   consolidated results Share in total   sales Changes to 2 months   of 2012
Russia 46% 55%
Latvia 21% 38%
Belarus 9% 117%
Ukraine 9% -60%
UK 6% 51%
Kazakhstan 2% -13%
Uzbekistan 2% NA
Italy 1% NA
Kyrgyzstan 1% 29%
Lithuania 0% -41%
Other 2% -62%
Total 100% 18%

Sales of pharmacies owned by AS “Olainfarm” during February 2013 were 0.7 million lats (0.99 million euro).  Sales of these pharmacies during two months of 2013 were 1.44 million lats (2.05 million euro).

According to unconsolidated preliminary results sales of AS “Olainfarm” during February of 2013 were 2.95 million lats (4.2 million euro).  The most rapid sales increases were achieved to Kyrgyzstan, where sales grew by 240%, to Belarus, where sales grew by 123% and Latvia, where sales have grown by 61%.  According to unconsolidated results the major sales markets of AS “Olainfarm” in February 2013 were Russia, Belarus, Latvia and the UK.

 

February 2013, unconsolidated   results Share in total sales Changes to February 2012
Russia 48% 5%
Belarus 15% 123%
Latvia 12% 61%
UK 10% -25%
Kazakhstan 6% -24%
Italy 3% NA
Kyrgyzstan 2% 240%
Canada 1% 8%
Lithuania 1% -52%
Uzbekistan 1% NA
Other 2% -95%
Total 100% -18%

During two months of 2013, according to preliminary unconsolidated results, sales of have reached 7.87 million lats (11.2 million euro), which represents an increase by 19% compared to similar period of 2012.  The most rapid sales increases during these two months have been achieved in Belarus and Latvia, where sales have more than doubled. According to preliminary unconsolidated results major sales markets of AS “Olainfarm” during two months of 2013 were Russia, Latvia, Belarus, Ukraine and the UK.

 

Two months of 2013,   unconsolidated results Share in total   sales Changes to two   months of 2012
Russia 52% 55%
Latvia 10% 106%
Belarus 10% 117%
Ukraine 10% -60%
UK 7% 51%
Kazakhstan 2% -13%
Uzbekistan 2% NA
Italy 1% NA
Kyrgyzstan 1% 29%
Lithuania 1% -41%
Other 2% -62%
Total 100% 19%

Although no sales targets for 2013 are formally approved yet, for planning purposes management is using the target of 50 million lats (71.1 million euros) for unconsolidated sales and 57 million lats (81.1 million euros) for consolidated sales. According to these preliminary results, during the first two months of 2013 the company has made 15.7% of both, unconsolidated and consolidated annual sales target.


 AS Olainfarm is one of the biggest pharmaceutical companies in Latvia with 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 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.  

Information prepared by:
Salvis Lapins
Member of the Board
AS „Olainfarm”
Tel: +371 6 7013 717
e-mail: Salvis.Lapins@olainfarm.lv

AS “Olainfarm” to extend the chain of “Latvijas Aptiekas”

13/03/2013

During February of this year AS “Olainfarm” agreed with AS “SEB Banka” to increase its loan by 6.6 million euros to 12 million euros. It is planned that proceeds from the loan are used to purchase pharmacies and other companies related to pharmaceutical business.  The loan will be due on May, 2105.

“In order to keep the momentum and maintain the long term growth of the company, we will continue with expansion of chain of „Latvijas Aptiekas”.  We are considering the purchase of five new pharmacies which will bring the total number of our pharmacies close to 50 all over Latvia,” says Salvis Lapins, Member of the Board of  AS “Olainfarm”.

Because of the increase in loan, several new commercial pledge and mortgage loans were signed.  According to them the maximum combined amount of secured claim is slightly above 13 million lats.  Just as with previous amount of loan, shares in daughter companies of AS „Olainfarm”, real estate and other property is pledged.

Consolidated profit and loss account of AS “Olainfarm” for operations of 2012 shows that the company has achieved new record profit of 9.75 million lats (13.88 million euros), which is an increase by 41% compared to 2011, when profit of AS “Olainfarm” was 6.91 million lats (9.84 million euros)


 A/s Olainfarm is one of the biggest pharmaceutical companies in Latvia with 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 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.  

Information prepared by:
Salvis Lapins
Member of the Board
AS „Olainfarm”
Tel: +371 6 7013 717
E-mail: Salvis.Lapins@olainfarm.lv

Fourth Quarter 2012 Investor Conference Webinar

07/03/2013

On March 6 AS „Olainfarm” organized its fourth quarter 2012 Investor Conference Online Webinar for investors. During the webinar the member of the management board of AS „Olainfarm” Salvis Lapiņš analysed the financial results of fourth quarter and full year of 2012 and informed about the company’s future activities.

As Salvis Lapiņš informed during the webinar AS “Olainfarm” Board intends to increase the dividend pay-out ratio by 2.5 percentage points every year in coming years, if possible. The Board intends to propose such approach to shareholders until the pay-out ratio reaches 25%. Taking into account the non-audited financial results of 2012, the dividends for the year 2012 could reach 0.10 LVL (0.14 EUR) per share.

Also, Salvis Lapiņš informed that currently AS „Olainfarm” already owns 45 pharmacies in Latvia and the plan to increase the number till 50 is still valid.

Answering the questions sent in by the investors, Salvis Lapiņš reminded that the company has signed an Agreement On Project Implementation with Latvian Investment and Development

Agency (LIDA), according to which AS „Olainfarm”willl make high value-added investments into production of nitrofuranes and 35% of the eligible project costs will be funded by LIDA. Total cost of the project is 5.88 million lats and the completion is scheduled in 2015. During 2013 it is planned to invest 3-3.2 million lats (4.3-4.5 million EUR) from the total sum of the project.

The recorded “Olainfarm” webinar is available online: http://ej.uz/OLFQ4_rec, and the presentation, demonstrated during the webinar, can be found in the previously published AS “Olainfarm” announcement:  https://newsclient.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=545057&messageId=671769.

Olainfarm thanks all participants, who joined the webinar, and encourages everybody to follow company’s announcements to get information on the next webinar!

Information prepared by:

Salvis Lapins
Member of the Board
A/s „Olainfarm”
Tel: +371 6 7013 717
Cell: +371 2 6448 873
E-mail: slapinsh@olainfarm.lv

Presentation given during the webinar held on March 6, 2013

06/03/2013

During the webinar held on March 6, 2013, Member of the Board of AS “OlainFarm” Salvis Lapins gave the enclosed
presentation about the update of company’s recent developments.

Among other things the participants were informed, that should the amount of unaudited profit and previously announced intention of the Board remain unchanged a dividend of 0,1 lats per share could be expected for 2012.

A/s Olainfarm is one of the biggest pharmaceutical companies in Latvia with 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 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

Webinar Presentation 4th quarter and 2012

Information prepared by:

Salvis Lapins

Member of the Board

A/s „Olainfarm”

Tel: +371 6 7013 717

e-mail: Salvis.Lapins@olainfarm.lv

2012 Was the Most Successful Year of “OlainFarm” So Far

28/02/2013

Consolidated profit and loss statement of AS “OlainFarm” for 2012 shows that a concern has set yet another profit record, making a net profit of 9.75 million lats (13.88 million euro).  This is an increase by 41% compared to 2011 when AS “OlainFarm” made a profit of 6.91 million lats (9.84 million euro).

“Last year was so far the most successful one in corporate history, which makes us set even higher targets for our processes and operations to keep similar pace in future.  This year we will continue with developing the network of “Latvijas aptiekas” tīkla attīstībā, but in near future we also plan to grow into segment of medical devices and food supplements and use our marketing and promotion resources of CIS and other countries to strengthen it,” says Valerijs Maligins, Chairman of OlainFarm’s Board.

Unaudited consolidated profit and loss statement for 2012 shows that consolidated sales were 52.91 million lats (75.29 million euro).  Net profit of the concern in this period was 9 752 488 lats (13 876 540 euro). A year ago profit of AS “OlainFarm” was 6 914 051 lats (9 837 808 euro). Fourth quarter of 2012 was the most profitable in corporate history as the net profit reached 3.4 million lats (4.8 million euro) which is an increase by 85% compared to the 4th quarter of 2011.

During 2012 41 registration cases of OlainFarm products have been completed.  An eCTD system has been successfully implemented in a Company and the first file in such format has been submitted (Memodex 10mg) for registration in 10 EU countries. For the first time OlainFarm is registering medicines according to DCP procedure with Latvia being a reference country.

During 2012 sales to all our key markets continued growing, except Belarus, which experienced a decline of 10% compared to rather successful 2011.  The biggest sales increases were achieved in Taiwan, where sales grew 11 times, in Latvia, where sales grew more than threefold, UK where sales increased by 61%, Ukraine by 44% and Russia, where sales grew by 31%. Major sales markets of AS “OlainFarm” in 2012 were Russia, Latvia, Ukraine, Belarus, Kazakhstan and the UK.

Annual meeting of shareholders of A/s “OlainFarm” held on April 27, 2012 approved operating plan of the Concern.  According to it, sales of the Concern in 2012 are planned to be 48 million lats  (68.3 million euros), but the net profit will reach 8.6 million lats (12.24 million euros).  According to this unaudited report for 2012, annual sales plan has been outperformed by 10.2%, while annual profit target has been exceeded by 13.4%.


 A/s Olainfarm is one of the biggest pharmaceutical companies in Latvia with 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 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.  

Information prepared by:
Salvis Lapins
Member of the Board
A/s „Olainfarm”
Tel: +371 6 7013 717
e-mail: Salvis.Lapins@olainfarm.lv

Olainfarm will Hold Fourth Quarter 2012 Investor Conference Webinar

27/02/2013

AS „Olainfarm” invites shareholders, investors, mass media representatives and other stakeholders to join its fourth quarter 2012 investor conference webinar scheduled on March 6, 2013 at 16:00 (EET).

Webinar will be hosted by the member of the management board Salvis Lapiņš. The presentation will be in English.

During the webinar topics in relation to AS “Olainfarm” expansion plans and analysis of fourth quarter and full year 2012 financial results will be discussed.

After the presentation investors will be welcomed to ask questions.  Due to the limited webinar time, please send in your questions in advance till March 5 to e-mail: ieva.kadakovska@nasdaqomx.com.

What is webinar?
Webinar is a virtual conference, during which company’s representative gives information about the company and its future plans. Webinar allows interactive communication and a possibility to ask questions and get answers directly from the company.

How to join the webinar?
To join the webinar, please go to the site http://bit.ly/OLFQ42012 on March 6, 2013 at 16:00, choose „Enter as a guest”, type in your name, surname and click „enter”. You will be then directed to the webinar screen. Prior registration is not necessary.

Additional information on the webinar
All you need to have is a computer with internet connection and headphones. No additional installations of special programs are necessary.
You will be able to ask questions in writing or just listen to the host of webinar.

Join the webinar and be the first one to hear the news!

Sales of Olainfarm Increase by 55% in January

15/02/2013

Preliminary consolidated results of AS “Olainfarm” for January 2013 show that sales have increased by 55% compared to the same period of last year and have reached 5.47 million lats (7.78 million euros).  Major sales increases were achieved in Belarus, where sales grew by 110%, Russia (by 105%) and Latvia, where sales grew by 48%.  Biggest sales markets of AS “Olainfarm” in January 2013 were Russia, Latvia and Ukraine

January 2013, consolidated results Share in total sales Changes to January 2012
Russia 50% 105%
Latvia 18% 48%
Ukraine 14% -22%
Belarus 7% 110%
UK 5% NA
Uzbekistan 2% NA
Czech Republic 1% NA
Italy <1% NA
Kazakhstan <1% NA
Moldova <1% NA
Other 1% -79%
Total 100% 55%

Sales of pharmacies owned by AS “Olainfarm” in January 2013 was 0.74 million lats (1.05 million euros).

According to preliminary unconsolidated results of AS “Olainfarm”, the sales during January 2013 were 4.92 million lats (7 million euros), which represents an increase by 63% compared to similar period a year ago.  Most rapid sales increases were achieved in Latvia (by 165%), Belarus (by 110%) and Russia, where sales grew by 105%. According to unconsolidated results the main sales markets of AS “Olainfarm” in January 2013 were Russia, Ukraine, Latvia and Belarus.

January 2013, unconsolidated results Share in total sales Changes to January 2012
Russia 55% 105%
Ukraine 16% -22%
Latvia 9% 165%
Belarus 8% 110%
UK 6% NA
Uzbekistan 3% NA
Czech Republic 1% NA
Italy <1% NA
Kazakhstan <1% NA
Moldova <1% NA
Other 1% -79%
Total 100% 63%

Although no sales targets for 2013 are formally approved yet, for planning purposes management is using the target of 50 million lats (71.1 million euros) for unconsolidated sales and 57 million lats (81.1 million euros) for consolidated sales. According to these preliminary results, during the month of January the company has made 9.8% of annual unconsolidated sales target and 9.6% of annual consolidated sales target.


 A/s Olainfarm is one of the biggest pharmaceutical companies in Latvia with 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 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.  

Information prepared by:
Salvis Lapins
Member of the Board
A/S „Olainfarm”
Tel: +371 6 7013 717

e-mail: Salvis.Lapins@olainfarm.lv

TERBINAFINE OLAINFARM

29/01/2013
_MG_0576

RIBOKSĪNS

29/01/2013
Riboksins

RIBAVIRIN

29/01/2013
Ribavirin

RANITIDIN OLAINFARM

29/01/2013
Ranitidin

PROTIONOLS®

29/01/2013
_MG_0590

PYRAZINAMIDE OLAINFARM

29/01/2013
_MG_0595

PIRACETAM OLAINFARM

29/01/2013
_MG_0578

OMOLIN

29/01/2013
_MG_0579

OL-CITRAMONS

29/01/2013
Ol-citramons

NOZEPAM®

29/01/2013
Nozepam

NOOFEN®

29/01/2013
Noofen

MELDONIUM OLAINFARM

29/01/2013
_MG_0584

JOGURT OLAINFARM®

29/01/2013
Jogurt olainfarm

JOGURT KID

29/01/2013
Jogurt Kid

IBUPROFĒNS

29/01/2013
Ibuprofens

GRIPOFLEKS 750

29/01/2013
gripofleks_750_komp

GRIPOFLEKS 500

29/01/2013
gripofleks_500

GLOPENEL

29/01/2013

FUROSEMĪDS OLAINFARM

29/01/2013
olainfarm_Furosemids

FURASOL®

29/01/2013
Furasol

FERMALAC® VAGINAL

29/01/2013
Fermalac

FLUCONAZOL

29/01/2013
_MG_0571

CIPROFLOXACIN

29/01/2013
_MG_0574

ANAPRILĪNS®

29/01/2013
Anaprilins 40

AMIOBUTOLS®

29/01/2013
_MG_0593

REMANTADĪNS®

24/01/2013
remantadins_50_komp

PROSTARINOL

24/01/2013
Prostarinol

OL – ASKOFĒNS

24/01/2013
_MG_0583

PAS-Na Olainfarm

23/01/2013
Pass na sals

NEOMIDANTAN®

23/01/2013
Neomidantan

NEIROMIDIN®

23/01/2013
olainfarm_Neiromidin

MELDONIUM

23/01/2013
Meldonium olainfarm

ITRANOLS®

23/01/2013
Itranols

HERPELĀNS®

23/01/2013
olainfarm_Herpelans

FURAMAGS®

23/01/2013
olainfarm_Furamags

FURAGĪNS®

23/01/2013
Furagins

FURADONĪNS

23/01/2013
Furadonins

FENKAROL®

23/01/2013
Fenkarol 25

FENAZEPAM OLAINFARM

23/01/2013
Fenazepam

DIKLOFEROL®

23/01/2013
_MG_0569

ETACIZIN®

23/01/2013
Etacizins

CLONAZEPAM

23/01/2013
Clonazepam olainfarm

BIKARFEN®

23/01/2013
Bikarfen

EIFILĪNS

23/01/2013
olainfarm_Eifilins

AMBROKSOL

23/01/2013
Ambroksol

ADAPTOL®

23/01/2013
Adaptol

OMEPRAZOLS

22/01/2013
_MG_0577

Triumph of Olainfarm continues: December sales increase by 94%

16/01/2013

Preliminary consolidated results of JSC “Olainfarm” (OlainFarm) for December 2012 show that sales have increased by 94% compared to the same period one year ago and reached 5.56 million lats (7.91 million euros). Major sales increase was achieved in India, where sales grew by 1094% and Ukraine, where sales grew by 499%. Major sales markets of OlainFarm in December 2012 were Ukraine, Russia, Latvia and Belarus.  In total target for unconsolidated sales in 2012 has been outperformed by 15.8%.

December 2012,   consolidated results Share in total   sales Changes to December   2011
Ukraine 37% 499%
Russia 30% 38%
Latvia 15% 143%
Belarus 5% 158%
Kazakhstan 4% 51%
The Netherlands 2% NA
India 1% 1094%
Moldova 1% 106%
Lithuania 1% -60%
Tajikistan 1% NA
Other 3% -67%
Total 100% 94%

Because of the possible delay with renewal of registration documents, there is a risk that at the beginning of 2013, imports of several products to Ukraine will be temporarily limited. For this reason, during extra shipments to Ukraine were made in December too. It is very difficult to identify the precise value of extra shipments, however, it has been preliminary estimated that in addition to normal demand, products worth 1.5 million lats were sold to Ukraine during December. In total, according to company’s estimates, during the last three months products worth approximately 3.7 million lats (5.2 million euros), were shipped to Ukraine in advance.

Last year preliminary consolidated sales of OlainFarm were 52.62 million lats (74.87 million euro), which represents an increase by 43% compared to 2011. The most rapid sales increases were achieved in Taiwan, where sales grew 11 times, sales to Latvia grew nearly fourfold, sales to the UK grew by more than 60%, sales to Ukraine by 44% and sales to Russia grew by 31%.  Major sales markets of OlainFarm in 2012 were Russia, Ukraine, Latvia, Belarus, Kazakhstan and the UK.

2012, consolidated   results Share in total   sales Changes to 2011
Russia 35% 31%
Ukraine 26% 44%
Latvia 18% 262%
Belarus 5% -10%
Kazakhstan 4% 10%
UK 4% 61%
Uzbekistan 1% 22%
Taiwan 1% 1051%
Lithuania 1% -17%
Georgia 1% -15%
Other 6% -10%
Total 100% 43%

Sales of pharmacies owned by OlainFarm in December of 2012 were 0.68 million lats (0.97 million euros).  During the entire 2012 pharmacies owned by OlainFarm made sales of 7.16 million lats (10.19 million euros).

According to unconsolidated preliminary results the sales of OlainFarm in December 2012 were 5.03 million lats (7.16 million euros), which represents an increase by 89% compared to similar period of 2011. The most rapid sales increases were achieved in India, where sales grew by 1094%, Ukraine, where sales grew by 499%, Belarus, where sales grew by 158% and Latvia, where sales grew by 123%. According to unconsolidated figures, the major sales markets of OlainFarm in December 2012 were Ukraine, Russia, Latvia and Belarus.

December 2012, unconsolidated   results Share in total   sales Changes to   December  2011
Ukraine 41% 499%
Russia 33% 38%
Latvia 6% 123%
Belarus 5% 158%
Kazakhstan 4% 51%
The Netherlands 2% NA
India 1% 1094%
Moldova 1% 106%
Lithuania 1% -60%
Tajikistan 1% NA
Other 3% -67%
Total 100% 89%

Preliminary unconsolidated sales of OlainFarm in 2012 is 46.31 million lats (65.9 million euro), which represents an increase by 28%, compared to 2011. Last year the most rapid sales increases were achieved in Taiwan, where sales grew 11.5 times and the UK, where sales increased by 61%.   According to preliminary unconsolidated results major sales markets of OlainFarm in 2012 were Russia, Ukraine, Latvia, Belarus, Kazakhstan and the UK.

2012, consolidated   results Share in total   sales Changes to 2011
Russia 39% 31%
Ukraine 29% 44%
Latvia 7% 40%
Belarus 6% -10%
Kazakhstan 4% 10%
UK 4% 61%
Uzbekistan 2% 22%
Taiwan 1% 1051%
Lithuania 1% -17%
Georgia 1% -15%
Other 7% -10%
Total 100% 28%

Sales forecasts of OlainFarm for 2012.gada provided that unconsolidated sales in 2012 will reach 40 million lats (56.91 million euro), but consolidated sales will reach 48 million lats (68.3 million euro). According to these preliminary unconsolidated sale figures, during 2012, target of unconsolidated sales has been outperformed by more than 6 million lats (8.5 million euros), while target for consolidated sales has been outperformed by 4.62 million lats (6.6 million euro) or 9.6%


JSC Olainfarm is one of the biggest pharmaceutical companies in Latvia with 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 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

Information prepared by:
Salvis Lapins
Member of the Board
JSC „Olainfarm”
Tel: +371 6 7013 717
e-mail: Salvis.Lapins@olainfarm.lv

 

Triumph of Olainfarm continues: December sales increase by 94%

15/01/2013

Preliminary consolidated results of AS “Olainfarm” for December 2012 show that sales have increased by 94% compared to the same period one year ago and reached 5.56 million lats (7.91 million euros). Major sales increase was achieved in India, where sales grew by 1094% and Ukraine, where sales grew by 499%. Major sales markets of AS “Olainfarm” in December 2012 were Ukraine, Russia, Latvia and Belarus.  In total target for unconsolidated sales in 2012 has been outperformed by 15.8%.

 

December 2012,   consolidated results Share in total   sales Changes to December   2011
Ukraine 37% 499%
Russia 30% 38%
Latvia 15% 143%
Belarus 5% 158%
Kazakhstan 4% 51%
The Netherlands 2% NA
India 1% 1094%
Moldova 1% 106%
Lithuania 1% -60%
Tajikistan 1% NA
Other 3% -67%
Total 100% 94%

Because of the possible delay with renewal of registration documents, there is a risk that at the beginning of 2013, imports of several products to Ukraine will be temporarily limited. For this reason, during extra shipments to Ukraine were made in December too. It is very difficult to identify the precise value of extra shipments, however, it has been preliminary estimated that in addition to normal demand, products worth 1.5 million lats were sold to Ukraine during December. In total, according to company’s estimates, during the last three months products worth approximately 3.7 million lats (5.2 million euros), were shipped to Ukraine in advance.

Last year preliminary consolidated sales of AS “Olainfarm” were 52.62 million lats (74.87 million euro), which represents an increase by 43% compared to 2011. The most rapid sales increases were achieved in Taiwan, where sales grew 11 times, sales to Latvia grew nearly fourfold, sales to the UK grew by more than 60%, sales to Ukraine by 44% and sales to Russia grew by 31%.  Major sales markets of AS “Olainfarm” in 2012 were Russia, Ukraine, Latvia, Belarus, Kazakhstan and the UK.

 

2012, consolidated   results Share in total   sales Changes to 2011
Russia 35% 31%
Ukraine 26% 44%
Latvia 18% 262%
Belarus 5% -10%
Kazakhstan 4% 10%
UK 4% 61%
Uzbekistan 1% 22%
Taiwan 1% 1051%
Lithuania 1% -17%
Georgia 1% -15%
Other 6% -10%
Total 100% 43%

 

Sales of pharmacies owned by AS “Olainfarm” in December of 2012 were 0.68 million lats (0.97 million euros).  During the entire 2012 pharmacies owned by AS “Olainfarm” made sales of 7.16 million lats (10.19 million euros).

According to unconsolidated preliminary results the sales of AS “Olainfarm” in December 2012 were 5.03 million lats (7.16 million euros), which represents an increase by 89% compared to similar period of 2011. The most rapid sales increases were achieved in India, where sales grew by 1094%, Ukraine, where sales grew by 499%, Belarus, where sales grew by 158% and Latvia, where sales grew by 123%. According to unconsolidated figures, the major sales markets of AS “Olainfarm” in December 2012 were Ukraine, Russia, Latvia and Belarus.

 

December 2012, unconsolidated   results Share in total   sales Changes to   December  2011
Ukraine 41% 499%
Russia 33% 38%
Latvia 6% 123%
Belarus 5% 158%
Kazakhstan 4% 51%
The Netherlands 2% NA
India 1% 1094%
Moldova 1% 106%
Lithuania 1% -60%
Tajikistan 1% NA
Other 3% -67%
Total 100% 89%

 

Preliminary unconsolidated sales of AS “Olainfarm” in 2012 is 46.31 million lats (65.9 million euro), which represents an increase by 28%, compared to 2011. Last year the most rapid sales increases were achieved in Taiwan, where sales grew 11.5 times and the UK, where sales increased by 61%.   According to preliminary unconsolidated results major sales markets of AS “Olainfarm” in 2012 were Russia, Ukraine, Latvia, Belarus, Kazakhstan and the UK.

 

2012, consolidated   results Share in total   sales Changes to 2011
Russia 39% 31%
Ukraine 29% 44%
Latvia 7% 40%
Belarus 6% -10%
Kazakhstan 4% 10%
UK 4% 61%
Uzbekistan 2% 22%
Taiwan 1% 1051%
Lithuania 1% -17%
Georgia 1% -15%
Other 7% -10%
Total 100% 28%

Sales forecasts of AS „Olainfarm” for 2012.gada provided that unconsolidated sales in 2012 will reach 40 million lats (56.91 million euro), but consolidated sales will reach 48 million lats (68.3 million euro). According to these preliminary unconsolidated sale figures, during 2012, target of unconsolidated sales has been outperformed by more than 6 million lats (8.5 million euros), while target for consolidated sales has been outperformed by 4.62 million lats (6.6 million euro) or 9.6%


A/s Olainfarm is one of the biggest pharmaceutical companies in Latvia with 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 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

Information prepared by:
Salvis Lapins
Member of the Board
A/s „Olainfarm”
Tel: +371 6 7013 717
e-mail: Salvis.Lapins@olainfarm.lv

Dates when financial reports of JSC „OlainFarm” will be published in 2013

27/12/2012

JSC „OlainFarm” hereby announces the dates on which its financial reports will be published in 2013:

Unaudited financial report for 2012 will be published on February 28, 2013.

Unaudited financial report for 1st quarter of 2013 will be published on May 31, 2013.

Unaudited financial report for 2 quarters of 2013 will be published on August 30, 2013.

Unaudited financial report for 3 quarters of 2013 will be published on November 29, 2013.

Information prepared by:
Salvis Lapins
Member of the Board
A/s „Olainfarm”
Tel: +371 6 7013 717
Fax: +371 6 7013 777
E-mail: slapinsh@olainfarm.lv

Third Quarter 2012 Investor Conference Webinar

11/12/2012

On December 10 JSC „Olainfarm” (OlainFarm) organized its third quarter 2012 Investor Conference Online Webinar for investors. During the webinar the member of the management board of OlainFarm Salvis Lapiņš analysed the financial results of third quarter 2012 and informed about the company’s future activities.

As Salvis Lapiņš informed during the webinar OlainFarm budget forecast for 2012 is 48 M LVL with net profit 8,6 M LVL. Based on 9 months results, current turnover has reached 73.3% of target and net profit – 74.2%, therefore company is positive about reaching, and even exceeding its budget forecast by the end of the year.

Answering the questions sent in by the investors, Salvis Lapiņš informed that OlainFarm is also actively working to expand on Turkish and Polish markets. Also the daughter company – “Olaines enerģija” has recently (from the beginning of December, 2012) started to produce energy for AS “Olainfarm” production facilities and OlainFarm is no longer purchasing gas from “Latvijas gāze”. However it is too early to judge on potential financial gains.

The recorded OlainFarm webinar is available online: http://ej.uz/OLFdecember_REC, and the presentation, demonstrated during the webinar, can be found in the previously published OlainFarm announcement: https://newsclient.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=533560&messageId=656679.

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 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 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.  

 

Information prepared by:

Salvis Lapins
Member of the Board
A/s „Olainfarm”
Tel: +371 6 7013 717
Cell: +371 2 6448 873
E-mail: slapinsh@olainfarm.lv

Olainfarm will Hold Third Quarter 2012 Investor Conference Webinar

06/12/2012

AS „Olainfarm” (OlainFarm) invites shareholders, investors, mass media representatives and other stakeholders to join its third quarter 2012 investor conference webinar scheduled on December 10, 2012 at 16:00 (EET).

Webinar will be hosted by the member of the management board Salvis Lapiņš. The presentation will be in English.

During the webinar Salvis Lapiņš will analyse OlainFarm non-audited financial results of 3rd quarter 2012 and inform about the latest company’s activities.

After the presentation investors will be welcomed to ask questions. Due to the limited webinar time, please send in your questions in advance till 10:00 am of December 10th  to e-mail: ieva.kadakovska@nasdaqomx.com.

What is webinar?
Webinar is a virtual conference, during which company’s representative gives information about the company and its future plans. Webinar allows interactive communication and a possibility to ask questions and get answers directly from the company.

How to join the webinar?
To join the webinar, please go to the site http://ej.uz/OLFdecember on December 10, 2012 at 16:00, choose „Enter as a guest”, type in your name, surname and click „enter”. You will be then directed to the webinar screen. Prior registration is not necessary.

Additional information on the webinar
All you need to have is a computer with internet connection and headphones. No additional installations of special programs are necessary.
You will be able to ask questions in writing or just listen to the host of webinar.
Join the webinar and be the first one to hear the news!

A/s Olainfarm is one of the biggest pharmaceutical companies in Latvia with 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 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

Information prepared by:
Salvis Lapins
Member of the Board
A/s „Olainfarm”
Tel: +371 6 7013 717
E-mail: slapinsh@olainfarm.lv

In Nine Months OlainFarm Makes 6.4 Million in Net Profit

30/11/2012

Consolidated profit and loss account of JSC „OlainFarm” (OlainFarm) for operations in nine months of 2012 shows that the concern continues setting profit records as it has made the net profit of 6.4 million lats (9.1 million euros) in nine months.  This is an increase by 27% compared to nine months on 2011 and almost ten times more than five years ago in 2007.  First nine months of this year have been the most profitable in corporate history of OlainFarm.

“Nine months results of this year show that OlainFarm is surely on its way to become the leading producer of chemical and pharmaceutical products in the Baltic states.  This is also confirmed by the award for “Top 500 EBITDA Maker” received last week.  We are also very honoured that as OlainFarm celebrated its 40th Anniversary, President Andris Berzins of Latvia awarded us with a special Certificate of Appreciation for Impressive Growth and Increase in Value,” says Valerijs Maligins, Chairman of the Board of  OlainFarm.

Sales of OlainFarm in nine months of  2012 have grown by 34% compared to the same period a year ago and reached 35.2 million lats (50 million euro).

During nine months of 2012 sales to all our key markets continued growing, except Belarus. The biggest sales increases were achieved in Taiwan, where sales grew 8 times, in Latvia, where sales grew fourfold, the UK, where sales doubled and Russia, where sales grew by 30%. Major sales markets of OlainFarm in nine months of 2012 were Russia, Latvia, Ukraine, Belarus, Kazakhstan and the UK.

According to budget and operating plan of OlainFarm for 2012, sales of the Concern in 2012 are planned to be 48 million lats (68.3 million euros), but the net profit will reach 8.6 million lats (12.24 million euros).  According to this unaudited report for 3 quarters of 2012, during the first nine months 73.3% of annual sales target and 74.2% of annual profit target is met
CONSOLIDATED ANNUAL REPORT FOR THE PERIOD ENDED 30 SEPTEMBEER 2012 (.pdf)

A/s Olainfarm is one of the biggest pharmaceutical companies in Latvia with 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 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.  

Information prepared by:
Salvis Lapins
Member of the Board
a/s „Olainfarm”
Tel: +371 6 7013 717
e-mail: Salvis.Lapins@olainfarm.lv

Sales of “Olainfarm” in October Increase by 99%

15/11/2012

Preliminary figures on consolidated sales of AS “Olainfarm” during October 2012 show that sales have increased by 99% compared to the same period a year ago and have reached 6.01 million lats (8.55 million euros).  The biggest sales increases were achieved in Latvia (by 358%) and Ukraine (by 285%).  Major sales markets of  AS “Olainfarm” during October 2012 were Russia, Ukraine, Latvia and the UK.

 

October 2012,   consolidated sales Share in total   sales Changes to October   2011
Russia 34% 70%
Ukraine 27% 285%
Latvia 16% 358%
UK 6% 100%
Kazakhstan 4% 72%
Belarus 4% -23%
Uzbekistan 3% NA
Georgia 1% 56%
Bulgaria 1% 113%
Tajikistan 1% 134%
Other 3% -60%
Total 100% 99%

 

In ten months of 2012, according to preliminary consolidated results sales of AS “Olainfarm” were 41.08 million lats (58.45 million euros) which represents an increase by 37% compared to the same period of 2011.   The most rapid sales increases were achieved in Taiwan, where sales grew 9 times, sales to Latvia grew fourfold, sales to the UK doubled, and sales to Uzbekistan grew by 36%, while sales to Russia grew by 34%.  Major sales markets of AS “Olainfarm” during 10 months of 2012 were Russia, Ukraine, Latvia, Belarus, the UK and Kazakhstan.

 

10 months of 2012,   consolidated sales Share in total   sales Changes to 10   months of 2011
Russia 37% 34%
Ukraine 21% 6%
Latvia 19% 317%
Belarus 5% -13%
UK 5% 100%
Kazakhstan 4% 13%
Uzbekistan 2% 36%
Taiwan 1% 825%
Georgia 1% 5%
Lithuania 1% 3%
Other 6% -15%
Total 100% 37%

Sales of pharmacies owned by AS “Olainfarm” during October were 0.7 million lats (.99 million euros).  In ten months of 2012 sales of pharmacies owned by  AS “Olainfarm” were  5.82 million lats (8.28 million euros).

According to unconsolidated sales figures of AS “Olainfarm”, its sales in October 2012 were 5.44 million lats (7.74 million euros), which is an increase by 80% compared to the same period one year ago.  The most rapid sales increases were achieved in Ukraine (by 285%), Tajikistan (by 134%), Bulgaria (by 113%), the UK (by 100%), Latvia (by 85%), Kazakhstan (by 72%) and Russia, where sales grew by 70%.  According to unconsolidated results, major sales markets of AS “Olainfarm” in October 2012 were Russia, Ukraine, Latvia and the UK.

 

October 2012,   unconsolidated sales Share in total   sales Changes to October   2011
Russia 37% 70%
Ukraine 30% 285%
Latvia 7% 85%
UK 7% 100%
Kazakhstan 4% 72%
Belarus 4% -23%
Uzbekistan 3% NA
Georgia 1% 56%
Bulgaria 1% 113%
Tajikistan 1% 134%
Other 4% -60%
Total 100% 80%

 

In ten months of 2012 according to preliminary results the sales of AS “Olainfarm” were 35.81 million lats (50.95 million euros), this represents an increase by 20% compared to the same period of 2011.  The most rapid sales increase during ten months of this year were achieved in Taiwan, where sales increased 9 times, and the UK, where sales doubled.  According to preliminary unconsolidated results major sales markets of AS “Olainfarm” in ten months of 2012 were Russia, Ukraine, Belarus, the UK and Kazakhstan.

 

10 months of 2012,   unconsolidated results Share in total   sales Changes to 10   months of 2011
Russia 42% 34%
Ukraine 24% 6%
Latvia 7% 31%
Belarus 6% -13%
UK 5% 100%
Kazakhstan 4% 13%
Uzbekistan 2% 36%
Taiwan 1% 825%
Georgia 1% 5%
Lithuania 1% 3%
Other 7% -15%
Total 100% 20%

 

Sales forecasts of AS „Olainfarm” for 2012.gada provide that unconsolidated sales in 2012 will reach 40 million lats (56.91 million euro), but consolidated sales will reach 48 million lats (68.3 million euro).  According to these preliminary unconsolidated sales figures, in ten months of 2012 nearly 90% of annual target for unconsolidated sales and nearly 86% of annual target for consolidated sales have been achieved.

 


 A/s Olainfarm is one of the biggest pharmaceutical companies in Latvia with 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 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.  

Information prepared by:
Salvis Lapins
Member of the Board
A/s „Olainfarm”
Tel: +371 6 7013 717

e-mail: Salvis.Lapins@olainfarm.lv

President of Latvia Awards “Olainfarm” with Certificate of Appreciation for Impressive Growth and Increase in Value

23/10/2012

At the ceremony of “National Capital Awards” Chairman of the Board of AS “Olainfarm” Valerijs Maligins received a Certificate of Appreciation from President Andris Berzins of Latvia.  The Certificate was awarded celebrating impressive growth of the company that has been achieved through successful conquest of export markets.  Value of business of AS “Olainfarm” during six years has increased from 11 million lats to 90 million lats.  Company makes more than 90% of its revenues in export markets.

Andris Berzins and Valerijs Maligins

“We are glad that at the time of our 40th anniversary we get this highly appreciated.  I am thankful to everyone who has supported us during these years. We will continue working to ensure even further growth of “Olainfarm” and increase in its value and to have the sweet taste of success with us in future too,” says Valerijs Maligins, Chairman of “Olainfarm’s” Board.

“National Capital Awards” ceremony takes place along with publication of “Top 101 Latvian Highest Worth Companies in 2012”, a list prepared jointly by “Prudentia” investment bank and „NASDAQ OMX Riga”.  Value of AS “Olainfarm” this year compared to 2011 has increased by 76% from 51.35 to 90.65 million lats.  This has resulted in “Olainfarm” improving its position in the rank by 19 positions from 42nd place in 2011 to 23rd this year.


 A/s Olainfarm is one of the biggest pharmaceutical companies in Latvia with 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 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.  

Information prepared by:
Salvis Lapins
Member of the Board
A/s „Olainfarm”
Tel: +371 6 7013 717

E-mail: slapinsh@olainfarm.lv

 

 

Sales of “Olainfarm” in September Exceed 4,5 Million Lats

15/10/2012

Preliminary consolidated results of AS “Olainfarm” for September 2012 show that the sales have increased by 22% compared to the same period a year ago and have reached 4.52 million lats (6.43 million euro).  The biggest sales increases have been achieved in Latvia (by 250%) and Russia (by 74%). Major sales markets of AS “Olainfarm” in September 2012 were Russia, Latvia, Ukraine and Belarus.

September 2012, consolidated results Share in total sales Changes to September 2011
Russia 39% 74%
Latvia 17% 250%
Ukraine 17% -53%
Belarus 6% -24%
UK 4% NA
Bulgaria 3% NA
Kazakhstan 2% -12%
Germany 2% NA
Spain 1% NA
Uzbekistan 1% NA
Other 7% -24%
Total 100% 22%

According to preliminary results in 9 months of 2012 consolidated sales of AS “Olainfarm” were  35.07 million lats (49.90 million euro), this represents an increase by 31% compared to the same period of 2011. In nine months of this year the biggest sales increases were experienced inTaiwan, where sales grew eightfold, sales inLatviagrew fourfold, sales to theUKdoubled, but sales toRussiagrew by 30%. Major sales markets of  AS “Olainfarm” in nine months of 2012 wereRussia,Ukraine,Latvia,Belarus,UKandKazakhstan.

9 months of 2012, consolidated results Share in total sales Changes to 9 months od 2011
Russia 37% 30%
Ukraine 19% -7%
Latvia 19% 312%
Belarus 5% -11%
UK 4% 100%
Kazakhstan 4% 6%
Uzbekistan 1% 2%
Taiwan 1% 713%
Lithuania 1% -10%
Georgia 1% -4%
Other 6% -5%
Total 100% 31%

Sales of pharmacies owned by AS “Olainfarm” during September 2012 were 0.64 million lats (0.91 million euro). In nine months of 2012 sales of pharmacies owned by AS “Olainfarm” was 5.1 million lats (7.3 million euro).

According to preliminary results, unconsolidated sales of AS “Olainfarm” in September 2012 were 3.98 million lats (5.66 million euro), which represents an increase by 7% compared to the same period a year ago.  The biggest sales increase was observed inRussia, where sales grew by 74%.  According to unconsolidated results the major sales markets of AS “Olainfarm” in September of 2012 wereRussia,Ukraine,BelarusandLatvia.

September 2012, unconsolidated results Share in total sales Changes to September 2011
Russia 44% 74%
Ukraine 19% -53%
Belarus 7% -24%
Latvia 6% 5%
UK 5% NA
Bulgaria 3% NA
Kazakhstan 3% -12%
Germany 2% NA
Spain 2% NA
Uzbekistan 2% NA
Other 8% -24%
Total 100% 7%

According to preliminary results, in nine months of 2012 unconsolidated sales of AS “Olainfarm” was 30.37 million lats (43.21 million euro), which represents a increase by 14%, compared to the same period of 2011.  The most rapid sales increases were achieved inTaiwan, where sales grew eightfold,UK, where sales doubled, andLatvia, where sales grew by 25%.  According to these preliminary unconsolidated results major sales markets of AS “Olainfarm” in nine months of 2012 wereRussia,Ukraine,Latvia,Belarus,UKandKazakhstan.

9 months of 2012, unconsolidated results Share in total sales Changes to 9 months of 2011
Russia

43%

30%

Ukraine

22%

-7%

Latvia

7%

24%

Belarus

6%

-11%

UK

5%

100%

Kazakhstan

4%

6%

Uzbekistan

2%

2%

Taiwan

1%

713%

Lithuania

1%

-10%

Georgia

1%

-4%

Other

7%

-5%

Total

100%

14%

Sales forecasts of AS „Olainfarm” for 2012.gada provide that unconsolidated sales in 2012 will reach 40 million lats (56.91 million euro), but consolidated sales will reach 48 million lats (68.3 million euro).  According to these preliminary unconsolidated sales figures, in nine months of 2012 nearly 76% of annual target for unconsolidated sales and nearly 73% of annual target for consolidated sales have been achieved.

 A/s Olainfarm is one of the biggest pharmaceutical companies in Latvia with 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 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.  

Information prepared by:
Salvis Lapins
Member of the Board
A/s „Olainfarm”
Tel: +371 6 7013 717

“Olainfarm” Celebrates 40th Anniversary, Plans to Invest About 35 Million Lats over the Coming decade

15/10/2012

On October 12, AS “Olainfarm” celebrated 40 years since first batch of furaginum was synthesized, which marked the beginning of company’s operations.  During the celebrations Chairman of the Boards Mr. Valerijs Maligins not only had reviewed the major achievements, but also came up with forecasts regarding the expected development during the next decade; the company plans to invest about 35 million lats and maintain the growth of about 10-15% per annum, which, if more favourable scenario develops, could be even as high as 20-30%.

„Olainfarm” faces its 40th anniversary in a very good shape – we have gained some experience, increased the production output, entered some new markets and have extended out product portfolio.  Basically we are very well prepared for stable growth and further expansion to new markets in coming years.  This gives me a reason to forecast that during the next decade, with the pessimistic scenario our growth will be at the level of 10-15%.  However, “Olainfarm” has all the necessary resources to maintain its growth level at about 20-25% or even 30% per annum.  Besides, we do not only grow on our own, we grow in cooperation with local and international partners and with the World Health Organisation,” says Valerijs Maligins, Chairman of Olainfarm’s Board.

V. Maligins emphasizes: „The most important factor influencing development of “Olainfarm” over the last 40 years and expected to influence it further are people: our employees, scientists, partners, patients. I would like to thank them and wish them further growth together with “Olainfarm”.”

 A/s Olainfarm is one of the biggest pharmaceutical companies in Latvia with 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 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.  

Information prepared by:
Salvis Lapins
Member of the Board
A/s „Olainfarm”
Tel: +371 6 7013 717
E-mail: slapinsh@olainfarm.lv

Sales of “Olainfarm” in August Increase by 65%

17/09/2012

Preliminary consolidated results of AS “Olainfarm” for August show that sales have increased by 65% compared to the same period a year ago and reached 3.88 million lats (5.52 million euro). Biggest sales increases were achieved in Latvia (by 294%), Kyrgyzstan (by 162%), Canada (by 111%), and Russia (by 98%).  Major sales markets of AS “Olainfarm” in August 2012 were Russia, Latvia, Ukraine and Kazakhstan.

August 2012, consolidated results Share in total sales Changes to August 2011
Russia 46% 98%
Latvia 20% 294%
Ukraine 17% 0%
Kazakhstan 6% 34%
Canada 2% 111%
Belarus 2% 8%
Italy 1% -38%
Taiwan 1% NA
Moldova 1% 27%
Kyrgyzstan 1% 162%
Other 2% -58%
Total 100% 65%

In eight months of 2012, preliminary consolidated sales of AS “Olainfarm” are 30.55 million lats (43.46 million euro) – which represents an increase by 33%, compared to the same period of 2011. The most rapid sales increases have been achieved inTaiwanwhere sales grew 8 times,Latvia4 times, theUK, where sales grew by 75%, andGeorgiawhere sales grew by 38%.  Major sales markets of AS “Olainfarm” in eight months of 2012 wereRussia,Ukraine,Latvia,Belarus, theUKandKazakhstan.

8 months of 2012, consolidated results Share in total sales Changes to 8 months of 2011
Russia 37% 25%
Ukraine 20% 5%
Latvia 19% 322%
Belarus 5% -9%
UK 4% 75%
Kazakhstan 4% 8%
Uzbekistan 1% -11%
Taiwan 1% 713%
Lithuania 1% -21%
Georgia 1% 38%
Other 6% -16%
Total 100% 33%

Sales of pharmacies owned by AS “Olainfarm” in August 2012 were 617 thousand lats (878 thousand euro).  In eight months of 2012 sales of pharmacies owned by AS “Olainfarm” were 4.5 million lats (6.4 million euro).

According to preliminary unconsolidated results, sales of AS “Olainfarm” in August 2012 were 3,36 million lats (4.78 million euro), which represents an increase by 43% compared to this period a year ago. The most rapid sales increases were achieved inKyrgyzstan(by 162%),Canada(by 111%), as well asRussia(by 98%).  In August of 2012 significant shipments were also made toTaiwan.  According to unconsolidated results, the major sales markets of AS “Olainfarm” in August wereRussia,Ukraine,LatviaandKazakhstan.

August 2012, unconsolidated results Share in total sales Changes to August 2011
Russia 53% 98%
Ukraine 20% 0%
Latvia 8% 33%
Kazakhstan 7% 34%
Canada 3% 111%
Belarus 2% 8%
Italy 2% -38%
Taiwan 2% NA
Moldova 1% 27%
Kyrgyzstan 1% 162%
Other 2% -58%
Total 100% 43%

In eight months of 2012, according to preliminary unconsolidated results sales of AS “Olainfarm” have reached 26.39 million lats (37.55 million euro) – which is an increase by 15%, compared to the same period in 2011.  During eight months of this year the most rapid sales increases were achieved inTaiwan, where sales grew 8 tomes, theUKby 75%,Georgiaby 38%,Latviaby 27% andRussiaby 25%. According to preliminary unconsolidated results major sales markets of AS “Olainfarm” in eight months of 2012 wereRussia,Ukraine,Latvia,Belarus,UKandKazakhstan.

8 months of 2012, unconsolidated results Share in total sales Changes to 8 months of 2011
Russia 43% 25%
Ukraine 23% 5%
Latvia 7% 27%
Belarus 6% -9%
UK 5% 75%
Kazakhstan 5% 8%
Uzbekistan 2% -11%
Taiwan 1% 713%
Lithuania 1% -21%
Georgia 1% 38%
Other 7% -16%
Total 100% 15%

Sales forecasts of AS „Olainfarm” for 2012.gada provide that unconsolidated sales in 2012 will reach 40 million lats (56.91 million euro), but consolidated sales will reach 48 million lats (68.3 million euro).  According to these preliminary unconsolidated sales figures, in eight months of 2012 nearly 66% of annual target for unconsolidated sales and nearly 64% of annual target for consolidated sales have been achieved.

 A/s Olainfarm is one of the biggest pharmaceutical companies in Latvia with 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 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.  

Information prepared by:
Salvis Lapins
Member of the Board
A/s „Olainfarm”
Tel: +371 6 7013 717
E-mail: slapinsh@olainfarm.lv

In six months “Olainfarm” makes 3.7 million lats in profit

31/08/2012

Consolidated profit and loss statement of AS „Olainfarm” for first six months of 2012 shows that the Company continues setting profit records by making 3.7 million lats (5.3 million euro) net profit in six months of this year. This is an increase by 15% compared to the first half of 2011, when the net profit was 3.2 million lats (4.6 million euro). This has so far been the most profitable first half of the year in corporate history of AS “Olainfarm”.

“We have experienced yet another profitable half year in our history, during which, because of our own chain of pharmacies, we have increased our Latvian sales fourfold. We have paid dividends for the second year in a row, and have an intention to make this a long term tradition,” says Valerijs Maligins, Chairman of the Board of AS “Olainfarm”.

Sales of AS “Olainfarm” during six months of 2012 have increased by 27% to 22.7 million lats (32.2 million euro).

During 1st half of 2012 sales to all key markets continued growing, except Belarus, where sales remained stable. The biggest sales increases were achieved in Taiwan, where sales grew by 596%, in Latvia, where sales grew by 313%, and the UK, where sales grew by 75%. Major sales markets of AS “Olainfarm” in six months of 2012 were Russia, Latvia, Ukraine, Belarus and the UK.

Annual meeting of shareholders of A/s “Olainfarm” held on April 27, 2012 approved operating plan of the Concern. According to it, sales of the Concern in 2012 are planned to be 48 million lats (68.3 million euros), but the net profit will reach 8.6 million lats (12.24 million euros). According to this unaudited report for 1st half of 2012, during the first six months 47.2% of annual sales target and 42.9% of annual profit target is met.
________________________________________
A/s Olainfarm is one of the biggest pharmaceutical companies in Latvia with 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 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

Information prepared by:
Salvis Lapins
Member of the Board
A/s „Olainfarm”
Tel: +371 6 7013 717
E-mail: slapinsh@olainfarm.lv

Olainfarm will Hold Second Quarter 2012 Investor Conference Webinar

31/08/2012

AS „Olainfarm” invites shareholders, investors, mass media representatives and other stakeholders to join its second quarter 2012 investor conference webinar scheduled on September 5, 2012 at 16:00 (EET).
Webinar will be hosted by the member of the management board Salvis Lapiņš. The presentation will be in English.

During the webinar Salvis Lapiņš will analyse AS “Olainfarm” non-audited financial results of 2nd quarter 2012 and inform about the latest company’s activities.

After the presentation investors will be welcomed to ask questions. Due to the limited webinar time, please send in your questions in advance till September 4 to e-mail: ieva.kadakovska@nasdaqomx.com.

What is webinar?
Webinar is a virtual conference, during which company’s representative gives information about the company and its future plans. Webinar allows interactive communication and a possibility to ask questions and get answers directly from the company.

How to join the webinar?
To join the webinar, please go to the site http://ej.uz/OLFseptembris on September 5, 2012 at 16:00, choose „Enter as a guest”, type in your name, surname and click „enter”. You will be then directed to the webinar screen. Prior registration is not necessary.

Additional information on the webinar
All you need to have is a computer with internet connection and headphones. No additional installations of special programs are necessary.
You will be able to ask questions in writing or just listen to the host of webinar.

Join the webinar and be the first one to hear the news!
________________________________________
A/s Olainfarm is one of the biggest pharmaceutical companies in Latvia with 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 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

Information prepared by:
Salvis Lapins
Member of the Board
A/s „Olainfarm”
Tel: +371 6 7013 717
E-mail: slapinsh@olainfarm.lv

Sales of “Olainfarm” in July increase by 51%

15/08/2012

Preliminary consolidated results of AS “Olainfarm” for July show that the sales of the company have increased by 51% compared to the same period a year ago and have reached 4.06 million lats (5.78 million euro).  The biggest sales increases were achieved in India, where sales grew 158 times, in Latvia by 430%, in Turkey by 73% and in Russia by 45%.  Major sales markets of AS “Olainfarm” in July of 2012 were Russia, Ukraine, Latvia and Uzbekistan.

July 2012: Consolidated results Share in total sales Changes to July 2011
Russia 42% 45%
Ukraine 29% 18%
Latvia 18% 430%
Uzbekistan 4% NA
India 1% 15784%
Tajikistan 1% NA
Kazakhstan 1% 20%
Poland 1% NA
Belarus 1% -86%
Turkey 1% 73%
Others 1% -69%
Total 100% 51%

 
According to preliminary results, consolidated sales of AS “Olainfarm” during seven months of 2012 were 26.68 million lats (37.96 million euro), which represents an increase by 29% compared to the same period of 2011.  The most rapid sales increase during this seven months period was achieved in Taiwan, where sales have grown nearly 7 times, sales to Latvia have grown fourfold, sales to the UK have grown by 75%, but sales to Georgia have grown by 40%.  Major sales markets of AS “Olainfarm” in seven months of 2012 wereRussia,Ukraine,Latvia,Belarus,UKandKazakhstan.

7 months of 2012: consolidated results Share in total sales Changes to 7 months of 2011
Russia 36% 17%
Ukraine 20% 6%
Latvia 19% 326%
Belarus 6% -10%
UK 5% 75%
Kazakhstan 4% 4%
Uzbekistan 2% 10%
Taiwan 1% 596%
Lithuania 1% -17%
Georgia 1% 40%
Others 6% -20%
Total 100% 29%

Sales of pharmacies owned by AS “Olainfarm” in July 2012 were 0.57 million lats (0.81 million euro).  In seven months of 2012 sales of pharmacies owned by AS “Olainfarm” were 3.63 million lats (5.17 million euro).

According to preliminary unconsolidated results the sales of AS “Olainfarm” during July 2012 was 3.56 million lats (5.06 million euro), which represents an increase by 32% compared to the same period a year ago.  The most rapid sales increased were achieved inIndia, where sales grew 158 times, sales toLatviaandTurkeygrew by 73%, sales toRussiagrew by 45%.  Biggest markets of AS “Olainfarm” in unconsolidated sales during July 2012 wereRussia,Ukraine,LatviaandUzbekistan.

July 2012: unconsolidated results Share in total sales Changes to July 2011
Russia 48% 45%
Ukraine 33% 18%
Latvia 7% 73%
Uzbekistan 5% NA
India 1% 15784%
Tajikistan 1% NA
Kazakhstan 1% 20%
Poland 1% NA
Belarus 1% -86%
Turkey 1% 73%
Other 1% -69%
Total 100% 32%

 
According to preliminary results during 7 months of 2012 unconsolidated sales of AS “Olainfarm” were 23.05 million lats (32.79 million euro).  This represents an increase by 12% compared to the same period of 2011. The most rapid sales increase during this seven months period was achieved in Taiwan, where sales have grown nearly 7 times, , sales to the UK have grown by 75%, sales to Georgia have grown by 40%, while sales to Latvia increased by 26%.  Major sales markets of AS “Olainfarm” in seven months of 2012 wereRussia,Ukraine,Latvia,Belarus,UKandKazakhstan.

7 months of 2012: unconsolidated results Share in total sales Changes to 7 months of 2011
Russia 41% 17%
Ukraine 23% 6%
Belarus 7% -10%
Latvia 7% 26%
UK 6% 75%
Kazakhstan 4% 4%
Uzbekistan 2% 10%
Taiwan 1% 596%
Lithuania 1% -17%
Georgia 1% 40%
Other 7% -20%
Total 100% 12%

Sales forecasts of AS „Olainfarm” for 2012 provide that unconsolidated sales will reach 40 million lats (56.91 million euro), while consolidated sales will be as high as 47 million lats (66.9 million euro).  According to these preliminary results, during 7 months of 2012, the company has achieved nearly 58% of planned unconsolidated sales and nearly 57% of planned consolidated sales.

 A/s Olainfarm is one of the biggest pharmaceutical companies in Latvia with 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 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.  

Information prepared by:
Salvis Lapins
Member of the Board
A/s „Olainfarm”
Tel: +371 6 7013 717
E-mail: slapinsh@olainfarm.lv

Sales of “Olainfarm” in June increase by 20%

16/07/2012

Preliminary consolidated results of AS “Olainfarm” for June 2012 show that the sales have increased by 20% compared to the same period a year ago and have reached 4.16 million lats (5.92 million euro). The biggest sales increases were achieved in Lithuania by 517%, Latvia by 291% and Belarus by 201% Major sales markets of AS “Olainfarm” in June 2012 were Russia, Latvia, Ukraine, Belarus and the UK.

June 2012: consolidated sales Share in total sales Changes to June 2011
Russia 31% -15%
Latvia 19% 291%
Ukraine 14% -22%
Belarus 10% 201%
UK 9% NA
Kazakhstan 4% -23%
Taiwan 3% NA
Australia 2% NA
Georgia 2% 21%
Lithuania 1% 517%
Other 4% -67%
Total 100% 20%

In six months of 2012 preliminary consolidated sales of AS “Olainfarm” were 22.62 million lats (32.19 million euro), which represents an increase by 26% compared to the same period a year ago.  The biggest sales increases were achieved inTaiwan, where sales grew by 596%, inLatvia, where sales grew by 313%, and theUK, where sales grew by 75%.  Major sales markets of AS “Olainfarm” in six months of 2012 wereRussia,Latvia,Ukraine,Belarusand theUK.

6 months of 2012: consolidated sales Share in total sales Changes to 6 months of 2011
Russia 35% 13%
Latvia 20% 313%
Ukraine 19% 3%
Belarus 7% 0%
UK 6% 75%
Kazakhstan 4% 3%
Taiwan 1% 596%
Uzbekistan 1% -31%
Lithuania 1% -5%
Georgia 1% 41%
Other 6% -26%
Total 100% 26%

Sales of pharmacies owned by AS “Olainfarm” in June 2012 were 0.63 million lats (0.9 million euro).   In six months of 2012 sales of these pharmacies were 3.29 million lats (4.68 million euro).

According to unconsolidated preliminary results of AS “Olainfarm”, sales during June 2012 were 3.6 million lats (5.12 million euro).  This represents an increase by 4% compared to the same period a year ago.  The biggest sales increases were achieved inLithuania– by 517%, andBelarusby 201%.  Major markets for unconsolidated sales of AS “Olainfarm” in June 2012 wereRussia,Ukraine,Belarus,UKandLatvia.

June 2012: unconsolidated sales Share in total sales Changes to June 2011
Russia 36% -15%
Ukraine 16% -22%
Belarus 12% 201%
UK 11% NA
Latvia 6% 11%
Kazakhstan 5% -23%
Taiwan 3% NA
Australia 2% NA
Georgia 2% 21%
Lithuania 1% 517%
Other 5% -67%
Total 100% 4%

During six months of 2012 preliminary unconsolidated sales of AS “Olainfarm” were 19.49 million lats (27.73 million euro).  This represents an increase by 8% compared to the same period a year ago. The biggest sales increases were achieved inTaiwan– by 596%, theUK– by 75% and Georgia by 41%.  In terms of unconsolidated sales, the major sales markets of AS “Olainfarm” in six months of 2012 wereRussia,Ukraine,Belarus,UK,LatviaandKazakhstan

6 months of 2012: unconsolidated sales Share in total sales Changes to 6 months of 2011
Russia 40% 13%
Ukraine 22% 3%
Belarus 8% 0%
UK 7% 75%
Latvia 7% 20%
Kazakhstan 5% 3%
Taiwan 2% 596%
Uzbekistan 1% -31%
Lithuania 1% -5%
Georgia 1% 41%
Other 7% -26%
Total 100% 8%

Sales target of AS „Olainfarm” for 2012 provides that unconsolidated sales of the company for the entire year will be as high as 40 million lats (56.91 million euros), while the consolidated sales will reach 47 million lats (66.9 million euro).  According to these preliminary unconsolidated sales results, during 6 months of 2012 49% of annual unconsolidated sales target was achieved, but according to preliminary consolidated sales results for 6 months of 2012, during this period 48% of annual target for consolidated sales were made.

A/s Olainfarm is one of the biggest pharmaceutical companies in Latvia with nearly 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 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.  

Information prepared by:
Salvis Lapins
Member of the Board
A/s „Olainfarm”
Tel: +371 6 7013 717
e-mail: slapinsh@olainfarm.lv

AS “Olainfarm” receives „Baltic Corporate Excellence Award”

27/06/2012

AS “Olainfarm” was named the best Latvian company listed on Baltic stock exchanges and was awarded „Baltic Corporate Excellence Award 2012”. AS “Olainfarm” this year was named second best company in the entire Baltics. During the last three years AS “Olainfarm” has demonstrated a very impressive improvement in valuations for Baltic Corporate Excellence Awards”, it has climbed from position 19 in the Baltics in 2010, to position 8 in 2011 to the second place this year.

Annual „Baltic Corporate Excellence Award” evaluation is conducted by financial analysts from „CE Services”, in order to identify which Baltic listed companies can both, maintain good financial results and good reputation and investor relations in a longer period of time. The award is also aimed to motivate other listed companies to improve their quality in terms of financial health, corporate governance and to strengthen their business model.

Experts of “CE Services” have pointed out that AS “Olainfarm” has managed to improve its financial results mainly because of increased sales and reduction of fixed costs. Product portfolio of the company is well diversified (10 bestselling products make up 87% of total sales). Experts also have emphasized that, since AS “Olainfarm” is vertically integrated and has a good infrastructure, it is very flexible with respect to its production capacity. Significant investments in marketing were started several years ago, that have allowed AS “Olainfarm” to increase its sales and market share in its major markets.

Jurry of “Baltic Corporate Excellence Award 2012” consists from representatives of Swiss based “CE Asset Management AG”, Latvian “CE Services” and BA School of Business and Finance. 50% of the score came from quantitative factors, including strength of the balance sheet, profitability, efficiency of capital and operations, currently and historically (last 5 years). The other 50% came from a deeper analysis of the company. It covered business model of the company, management structure, financial management and overall conditions of the company’s market.

Lithuanian telecommunications company „Teo LT” was named best in Baltics and in Lithuania, “Harju Elekter” was named the best listed company of Estonia. 

A/s Olainfarm is one of the biggest pharmaceutical companies in Latvia with nearly 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 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.  

Information prepared by:
Salvis Lapins
Member of the Board
A/s „Olainfarm”
Tel: +371 6 7013 717
Cell: +371 2 6448 873
E-mail: slapinsh@olainfarm.lv

Sales of “Olainfarm” in May Increase by 8%

18/06/2012

Preliminary consolidated sales results of AS “Olainfarm” for May show that sales have increased to 3.18 million lats (4.53 million euro) which is by 8% more compared to the same period one year ago.  Biggest sales increases were achieved in Kyrgyzstan – by 276%, Latvia – by 257%, Azerbaijan – by 121% and Belarus by 113%.  Major sales markets of AS “Olainfarm” in May of 2012 were Russia, Latvia, Ukraine, Belarus, Kazakhstan and the UK.

 

May 2012,
consolidated results
Changes to May 2011 Share in total sales
Russia

8%

35%

Latvia

257%

22%

Ukraine

-59%

14%

Belarus

113%

9%

Kazakhstan

14%

7%

UK

NA

6%

Azerbaijan

121%

1%

Canada

NA

1%

Kyrgyzstan

276%

1%

Uzbekistan

-79%

1%

Other

-44%

3%

Total

8%

100%

 

 

 

In five months of 2012 preliminary consolidates sales of AS “Olainfarm” were 18.43 million lats (26.23 million euros), which is an increase by 27% compared to the sale period of 2011. Impressive sales increases were achieved in US, where sales increased 344 times, Taiwan and Latvia where sales grew fourfold. Major sales markets of AS “Olainfarm” in five months of 2012 were Russia, Ukraine, Latvia, Belarus, UK and Kazakhstan.

 

5 months of 2012 -consolidated results Changes to five months of 2011 Share in total sales
Russia 21% 36%
Ukraine 8% 20%
Latvia 315% 20%
Belarus -20% 6%
UK 25% 5%
Kazakhstan 11% 4%
Uzbekistan -30% 1%
Taiwan 311% 1%
USA 34367% 1%
Lithuania -25% 1%
Other -25% 6%
Total 27% 100%

 

 

 

Sales of pharmacies owned by AS “Olainfarm” in May 2012 were 0.53 million lats (0.75 million euro). In fine months of 2012 sales of these pharmacies were 2.64 million lats (3.77 million euro).

 

According to preliminary data, unconsolidated sales of AS “Olainfarm” in May 2012 were 2.68 million lats (3.82 million euro). This is a decrease by 9% compared to the same period a year ago. Biggest sales increases were achieved in Kyrgyzstan – by 276%, Azerbaijan – by 121% and Belarus by 113%.  Major markets of AS “Olainfarm” for unconsolidated sales in May 2012 were Russia, Ukraine, Belarus, Latvia, Kazakhstan and the UK.

 

May 2012, unconsolidated results Changes to May 2012 Share in total sales
Russia 8% 41%
Ukraine -59% 16%
Belarus 113% 11%
Latvia 7% 8%
Kazakhstan 14% 8%
UK NA 7%
Azerbaijan 121% 2%
Canada NA 1%
Kyrgyzstan 276% 1%
Uzbekistan -79% 1%
Other -44% 4%
Total -9% 100%

 

 

In five months of 2012 preliminary unconsolidated sales of AS “Olainfarm” were  15.89 million lats (22.60 million euro), which is an increase by 9% compared to the same period of 2011. Impressive sales increases were achieved in US, where sales increased 344 times, Taiwan and Latvia where sales grew fourfold. Major sales markets of AS “Olainfarm” in five months of 2012 were Russia, Ukraine, Latvia, Belarus, UK and Kazakhstan.

 

 

5 months of 2012, unconsolidated results Changes to 5 months of 2011 Share in total sales
Russia 21% 41%
Ukraine 8% 23%
Belarus -20% 7%
Latvia 22% 7%
UK 25% 6%
Kazakhstan 11% 5%
Uzbekistan -30% 1%
Taiwan 311% 1%
USA 34367% 1%
Lithuania -25% 1%
Other -25% 7%
Total 9% 100%

 

 

Sales forecasts of AS „Olainfarm” for 2012 provide that unconsolidated sales of the company in 2012 will reach 40 million lats (56.91 million euro), while the consolidated sales will be as high as 47 million lats (66.9 million euro).  According to these preliminary unaudited unconsolidated results, during 5 months of 2012 nearly 40% of annual unconsolidated sales target are met, while according to preliminary consolidated sales results, during 5 months of 2012 39% of annual consolidated sales target is achieved..

 


 A/s Olainfarm is one of the biggest pharmaceutical companies in Latvia with nearly 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 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.  

Information prepared by:
Salvis Lapins
Member of the Board
A/s „Olainfarm”
Tel: +371 6 7013 717
Cell: +371 2 6448 873
E-mail: slapinsh@olainfarm.lv

First Quarter 2012 Investor Conference Webinar

07/06/2012

On June 7 AS „Olainfarm” organized its first quarter 2012 Investor Conference Online Webinar for investors. During the webinar the member of the management board of AS „Olainfarm” Salvis Lapiņš analysed the financial results of first quarter 2012 and informed about the company’s future perspectives.

As Salvis Lapiņš informed during the webinar, AS “Olainfarm” currently owns 36 different pharmacy stores, but during the next year it is planned to increase the number to 50-60 pharmacies.
According to Salvis Lapiņš, it is soon planned to rebrand the acquired pharmacies uniting them under the name “LV aptieka”.
Also, it was noted that on May 31, 2012 the registration of “Olvazol” capsules was finished in Ukraine.
Answering the questions sent in by the investors, Salvis Lapiņš informed that the retained profit of the year 2011 will be invested in company’s development – purchase of equipment and renovation of AS “Olainfarm” premises in order to ensure thermal efficiency, as well as in workforce and 2 million lats (2.85 million EUR) in purchases of new pharmacy stores.

The recorded Olainfarm webinar is available online: http://ej.uz/olf3ieraksts, and the presentation, demonstrated during the webinar, is attached to this announcement.

Olainfarm thanks all participants, who joined the webinar, and encourages everybody to follow company’s announcements to get information on the next webinar!

Information prepared by:
Salvis Lapins
Member of the Board
A/s „Olainfarm”
Tel: +371 6 7013 717
Cell: +371 2 6448 873
E-mail: slapinsh@olainfarm.lv

Olainfarm will Hold First Quarter 2012 Investor Conference Webinar

04/06/2012

AS „Olainfarm” invites shareholders, investors, mass media representatives and other stakeholders to join its first quarter 2012 investor conference webinar scheduled on June 7, 2012 at 16:00 (EET).

Webinar will be hosted by the member of the management board Salvis Lapiņš. The presentation will be in English.

During the webinar Salvis Lapiņš will analyse AS “Olainfarm” non-audited financial results of 1st quarter 2012 and inform about the latest company’s activities.

After the presentation investors will be welcomed to ask questions.  Due to the limited webinar time, please send in your questions in advance till June 6 to e-mail: ieva.kadakovska@nasdaqomx.com.

What is webinar?
Webinar is a virtual conference, during which company’s representative gives information about the company and its future plans. Webinar allows interactive communication and a possibility to ask questions and get answers directly from the company.

How to join the webinar?
To join the webinar, please go to the site http://ej.uz/OLFvebinars3 on June 7, 2012 at 16:00, choose „Enter as a guest”, type in your name, surname and click „enter”. You will be then directed to the webinar screen. Prior registration is not necessary.

Additional information on the webinar
All you need to have is a computer with internet connection and headphones. No additional installations of special programs are necessary.
You will be able to ask questions in writing or just listen to the host of webinar.

Join the webinar and be the first one to hear the news!

A/s Olainfarm is one of the biggest pharmaceutical companies in Latvia with nearly 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 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

Information prepared by:
Salvis Lapins
Member of the Board
A/s „Olainfarm”
Tel: +371 6 7013 717
Cell: +371 2 6448 873
E-mail: slapinsh@olainfarm.lv

“Olainfarm” makes another record profit: 2.4 million lats in first quarter

31/05/2012

Consolidated profit and loss account of AS „Olainfarm” for the first quarter of 2012 shows that the Concern has set yet another profits record of 2.4 million lats (3.4 million euros). This is an increase by 40% compared to the first quarter of 2011 when the company made the net profit of 1.7 million lats (2.4 million euros). This has so far been the most profitable quarter in corporate.

Unaudited profit and loss statement of AS “Olainfarm” for the 1st quarter of 2012 shows that sales were 12.1 million lats (17.2 million euros), This is an increase by 48% compared to 1st quarter of 2011 when sales of AS “Olainfarm” were 8.2 million lats (11.6 million euro).

“Results of the first quarter confirm ability of “Olainfarm” to continue increasing sales and profits not only in foreign markets. In Latvia, through our retail network we have increased our sales fourfold and are still growing. These developments had allowed us to pay dividends for the second time,” says Valerijs Maligins, Chairman of the Management Board.

During 1st quarter of 2012 sales continued increasing to all key markets except Belarus. The most rapid sales increases were achieved to USA, where sales grew 267 times, Taiwan 13 times, Latvia more than fourfold, Georgia more than threefold, and Ukraine where sales grew by 81%. Major sales markets of AS “Olainfarm” in three months of 2012 were Russia, Ukraine, Latvia, Belarus, Kazakhstan and the UK.

According to budget and operating plan of AS “Olainfarm”, sales of the Concern in 2012 are planned to be 48 million lats (68.3 million euros), but the net profit will reach 8.6 million lats (12.24 million euros). According to the unaudited report for 1st quarter of 2012, during the first three months 25.1% of annual sales target and 28% of annual profit target is met.

In 1st quarter of 2012 the Concern consists from parent company a/s „Olainfarm”, its daughter companies SIA „Ozols JRD”, whose major activities will be related to organizing sports and active leisure events in Olaine, daughter company „Olainfarm Enerģija”, that will be engaged in production of electric energy using cogeneration technologies, travel agency „First Class Lounge” and pharmaceutical retail companies SIA „Ilmas Aptieka”, SIA „Juko 99”, SIA „Veritas Farm”, SIA „Inula Farma”, a/s „Lege Artis” and SIA „Vita Plus”. In February 2012, shares in SIA „Teriaks Pļaviņu Aptieka” were also purchased.

A/s Olainfarm is one of the biggest pharmaceutical companies in Latvia with nearly 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 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.  

Information prepared by:
Salvis Lapins
Member of the Board
A/s „Olainfarm”
Tel: +371 6 7013 717
Cell: +371 2 6448 873
E-mail: slapinsh@olainfarm

In April “Olainfarm” sells products worth 3.22 million lats

15/05/2012

Preliminary consolidated sales results of AS “Olainfarm” for April 2012 show that sales reached 3.22 million lats (4.58 million euros), which represents a decrease by 5% compared to the same period last year. Sales in Latvia have increased by 374%, significant shipments were also made to Uzbekistan, Switzerland and the USA. Major sales markets of AS “Olainfarm” during April 2012 were Russia, Latvia. Ukraine, UK, Belarus Kazakhstan and Uzbekistan.

April 2012, consolidated results Changes to April 2011 Share in total sales
Russia -18% 32%
Latvia 374% 21%
Ukraine -47% 12%
UK 0% 12%
Belarus -4% 6%
Kazakhstan -51% 4%
Uzbekistan NA 3%
Lithuania -6% 2%
Switzerland NA 1%
USA NA 1%
Other -52% 5%
Total -5% 100%

According to the preliminary results, during four months of 2012 consolidated sales of AS “Olainfarm” were 15.25 million lats (21.70 million euros) – which represents an increase by 32%, compared to the same period of 2011. The most rapid sales increases were achieved to the USA, where sales increased 344 times, Taiwan, where sales increased 13 times, and Latvia, where sales increased more than fourfold. Major sales markets of AS “Olainfarm” during this period were Russia, Ukraine, Latvia, Belarus, UK and Kazakhstan.

4 months of 2012, consolidated results Changes to 4 months of 2011 Share in total sales
Russia 23% 36%
Ukraine 40% 21%
Latvia 329% 19%
Belarus -34% 6%
UK 0% 5%
Kazakhstan 10% 4%
Uzbekistan 4% 1%
Taiwan 1280% 1%
USA 34367% 1%
Lithuania -28% 1%
Other -29% 6%
Total 32% 100%

Sales of chain of pharmacies owned by AS “Olainfarm” during April 2012 were 0.52 million lats (0.74 million euros). In four months of 2012, sales of pharmacies owned by AS “Olainfarm” were 2.12 million lats (3.02 million euros).

According to preliminary unconsolidated results sales of AS “Olainfarm” in April 2012 were 2.71 million lats (3.87 million euros), which represents a decrease by 19% compared to the same period one year ago. Significant sales increase was achieved in Latvia, whjere sales grew by 28%. The major sales markets of AS “Olainfarm” in April markets Russia, Ukraine, UK, Belarus, Latvia, Kazakhstan and Uzbekistan.

April 2012, unconsolidated results

Changes to April 2011

Share in total sales

Russia -18% 38%
Ukraine -47% 14%
UK 0% 14%
Belarus -4% 7%
Latvia 28% 7%
Kazakhstan -51% 5%
Uzbekistan NA 4%
Lithuania -6% 2%
Switzerland NA 2%
USA NA 1%
Other -52% 6%
Total -19% 100%

According to preliminary unconsolidated sales figures for four months of 2012, sales of AS “Olainfarm” were 13.2 million lats (18.78 million euros), which represents an increase by 14% compared to the respective period of 2011. The most rapid sales increases were achieved to the USA, where sales increased 344 times, Taiwan, where sales increased 13 times. Major sales markets of AS “Olainfarm” during four months of 2012 were Russia, Ukraine, Belarus, Latvia, UK and Kazakhstan.

4 months of 2012, unconsolidated results

Changes to 4 months of 2011

Share in total sales

Russia 23% 41%
Ukraine 40% 24%
Belarus -34% 6%
Latvia 24% 6%
UK 0% 6%
Kazakhstan 10% 4%
Uzbekistan 4% 2%
Taiwan 1280% 1%
USA 34367% 1%
Lithuania -28% 1%
Other -29% 7%
Total 14% 100%

Sales forecasts of AS „Olainfarm” for 2012.gada provide that unconsolidated sales of the company will reach 40 million lats (56.91 million euro), while consolidated sales will reach 47 million lats (66.9 million euro) According to these preliminary unconsolidated sales figures, during four months of 2012, 33% of annual target for unconsolidated sales are reached. According to the preliminary consolidated figures, during four months 32% of annual target for consolidated sales are reached.

A/s Olainfarm is one of the biggest pharmaceutical companies in Latvia with nearly 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 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.  

Information prepared by:
Salvis Lapins
Member of the Board
A/s „Olainfarm”
Tel: +371 6 7013 717
Cell: +371 2 6448 873
E-mail: slapinsh@olainfarm

“Olainfarm” plans to increase dividends, strengthens its product portfolio in export markets

13/05/2012

AS “Olainfarm” is currently finishing registration of capsules of “Noofen” in Russia, plans to start selling capsules of “Olvazol” in Ukraine in September and has started the registration of “Neiromidin” in China, Chairman of the Board Mr Valerijs Maligins told in his interview to portal naudaslietas.lv. AS “Olainfarm” plans to gradually increase share of profit payable in dividends, so that in more distant future it might be as high as 90% of profit.

“More significant growth in the future could be achieved if we through share issues purchase new companies,” says Valerijs Maligins, Chairman of the Board of AS “Olainfarm”. “In order to keep all financial options open, “Olainfarm” has to be attractive for investors, therefore we will gradually increase the portion of profit to be paid in dividends.”

At the moment most of company’s profit is being reinvested into the company, for instance, soon the cogeneration project will commence. Possibility of purchasing other producers of pharmaceuticals, herbal medicines or elastic bandages is also not ruled out.

Currently AS “Olainfarm” is finishing the registration of capsules of “Noofen” in Russia. According to company’s forecasts, in 5-6 years volume of sales of “Noofen” to Russia could reach 6 million euros.

Sales forecasts of AS „Olainfarm” for 2012 provides that unconsolidated sales will reach 40 million lats (56.9 million euros), but consolidated sales will be as high as 47 million lats (66.9 million euro). 

A/s Olainfarm is one of the biggest pharmaceutical companies in Latvia with nearly 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 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.  

Information prepared by:
Salvis Lapins
Member of the Board
A/s „Olainfarm”
Tel: +371 6 7013 717
Cell: +371 2 6448 873
E-mail: slapinsh@olainfarm

Decisions of annual general meeting

27/04/2012

Name of securities: Public shares of JSC „Olainfarm”
ISIN code: LV000100501
Paid – in capital: 14 085 078 LVL
Date of the Annual General Meeting: April 27th, 2012, on 11.00 a.m.
Venue: Olaine, Rupnicu iela 5.
The following decisions have been adopted by the annual general meeting of shareholders:

1. Report of the Board on results of operations in 2011.

To take notice of the Report of the Board on results of operations in 2011.

Voting: the resolution was adopted unanimously.

2. Report of the Council on results of operations in 2011.

To take notice of the Report of the Council on results of operations in 2011.

Voting: the resolution was adopted unanimously.

3. Report of the Auditing Committee.

To take notice of the Report of the Auditing Committee.

Voting: the resolution was adopted unanimously.

4. Approval of the Audited Annual Report for 2011.

To approve the Audited Annual Report of JSC „Olainfarm” for 2011.

Voting: the resolution was adopted unanimously.

5. Approval of the Audited Consolidated Annual Report for 2011.

To approve the Audited Consolidated Annual Report of JSC „Olainfarm” for 2011.

Voting: the resolution was adopted unanimously.

6. Distribution of profit of 2011.

6.1. To use part of the profit of JSC “Olainfarm” in amount of 867 793,50 lats (1234758,91 euro) to pay dividends to shareholders of JSC „Olainfarm”, (ISIN code of the shares LV0000100501) paying 6,16 santims per one share, but part of the profit in amount of 6 074 554,50 lats (8 643 312,36 euro) to reinvest in development of JSC “Olainfarm”.

Voting: the resolution was adopted with the necessary majority of votes.

6.2. Set August 03rd, 2012, as a record date for dividends and August 08th, 2012, as the date of payment of dividends.

Voting: the resolution was adopted with the necessary majority of votes.

7. Report of the Board on budget and on planned operations in 2012.

To take notice of Report of the Board on budget and on planned operations in 2012, which include Company’s unconsolidated turnover forecast for 2012 in amount of 40,00 million lats (56,91 million Euro), and JSC „Olainfarm” consolidated turnover forecast for 2012 in amount of 48,00 million lats (68,3 million Euro); Forecast of unconsolidated profit of JSC “Olainfarm” is 8,3 million lats (11,81 million Euro), but consolidated profit is 8,6 million lats (12,24 million Euro).

Voting: the resolution was adopted unanimously.

8. Election of the Certified Auditor for 2012.

8.1. Elect SIA „Ernst & Young Baltic” (license No.17, unitary registration No. 40003593454) to be the certified auditor of JSC „Olainfarm” in 2012.

Voting: the resolution was adopted unanimously.

8.2. Set the total remuneration of certified auditor in accordance with the approved budget.

Voting: the resolution was adopted unanimously.

9. Election of the Auditing Committee.

9.1.Elect Zanna Karaseva, personal code 150775-10415, in the Auditing Committee of JSC „Olainfarm”.

Voting: the resolution was adopted unanimously.

9.2. Set the monthly remuneration of the members of the Auditing Committee at 500 Ls.

Voting: the resolution was adopted unanimously.

10. Padomes vēlēšanas.

    1. Elect the Council of JSC “Olainfarm” consisting of the following members for the term of five years, setting that this terms commences at April 28th, 2012: Valentina Andrejeva; Elena Dudko; Aleksandrs Raicis; Volodimirs Krivozubovs; Talis Talents.

Voting: the following number of votes were cast for each candidate:
for V.Andrejevu – 2049476 votes, or 20,02% of votes present;
for E.Dudko – 2050712 votes, or 20,05% of votes present;
for A.Raicis – 2034284 votes, or 19,87% of votes present;
for V.Krivozubovs – 2050524 votes, or 20,03% of votes present;
for T.Talents – 2050418 votes, or 20,03% of votes present.

    1. Set the total monthly remuneration of all the Supervisory Council in the amount of not more than Ls 6000.

Voting: the resolution was adopted unanimously.

In Olaine, on April 27th, 2012
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

Sales of “Olainfarm” in March grew by 65%

16/04/2012

Preliminary consolidated figures of AS “Olainfarm” for March 2012 show that sales of the company have increased by 65% compared to the same period a year ago and have reached 4.65 million lats (6.62 million euro). Major sales increases were achieved in Tajikistan by 342%, Latvia by 319%, Georgia by 142%, Russia by 57%, Ukraine and Moldova, each by 34%. During March 2012 some significant shipments were made to Taiwan. Biggest sales markets of AS “Olainfarm” during March 2012 were Russia, Ukraine, Latvia, Belarus, Kazakhstan and Taiwan.

March 2012 consolidated results Changes to March 2011 Share in total sales
Russia 57% 38%
Ukraine 34% 18%
Latvia 319% 17%
Belarus -25% 6%
Kazakhstan 23% 4%
Taiwan NA 3%
Uzbekistan -17% 2%
Georgia 142% 2%
Moldova 34% 1%
Tajikistan 342% 1%
Other -11% 4%
Total 65% 100%

Preliminary consolidates sales of AS “Olainfarm” for three months of 2012 are 12.03 million lats (17.11 million euro), which represents an increase by 47% compared to the same period a year ago. Most rapid sales increases during these three months were experienced in USA, where sales grew 267 times, Taiwan – 13 times, Latvia, more than 4 times, Georgia, more than 3 times, and Ukraine, where sales grew by 81%. Major sales markets of AS “Olainfarm” during three months of 2012 were Russia, Ukraine, Latvia, Belarus, Kazakhstan and the UK.

3 months of 2012
consolidated results
Changes to 3 months of 2011 Share in total sales
Russia 40% 37%
Ukraine 81% 23%
Latvia 317% 18%
Belarus -40% 5%
Kazakhstan 74% 4%
UK 0% 3%
Taiwan 1280% 1%
USA 26639% 1%
Moldova -4% 1%
Georgia 218% 1%
Other -42% 5%
Total 47% 100%

Sales of pharmacies owned by AS “Olainfarm” in March 2012 were 0.57 million lats (0.81 million euro). During three months pharmacies of AS “Olainfarm” have made sales worth 1.6 million lats (2.3 million euro).

According to unconsolidated preliminary sales results of AS “Olainfarm”, sales made during March of 2012 were 3.85 million lats (5.48 million euro). This represents an increase by 37% compared to March 2011. Major sales increases were achieved in Tajikistan by 342%, Georgia by 142%, Russia by 57%, Ukraine and Moldova, each by 34%. During March 2012 some significant shipments were made to Taiwan. Biggest sales markets of AS “Olainfarm” during March 2012 were Russia, Ukraine, Latvia, Belarus, Kazakhstan and Taiwan.

March 2012, unconsolidated results Changes to March 2011 Share in total sales
Russia 57% 45%
Ukraine 34% 22%
Belarus -25% 7%
Latvia 27% 6%
Kazakhstan 23% 5%
Taiwan NA 3%
Uzbekistan -17% 2%
Georgia 142% 2%
Moldova 34% 1%
Tajikistan 342% 1%
Other -11% 4%
Total 37% 100%

During three months of 2012 according to preliminary results unconsolidated sales of “Olainfarm” were 10.48 million lats (14.91 million euro) – which represents an increase by 28%, compared to the same period a year ago. Most rapid sales increases during these three months were experienced in USA, where sales grew 267 times, Taiwan – 13 times, Georgia, more than 3 times, and Ukraine, where sales grew by 81% and Kazakhstan, where sales grew by 74% . Major sales markets of AS “Olainfarm” during three months of 2012 were Russia, Ukraine, Latvia, Belarus, Kazakhstan and the UK.

3 months of 2012 unconsolidated results Changes to 3 months of 2011 Share in total sales
Russia 40% 42%
Ukraine 81% 27%
Belarus -40% 6%
Latvia 22% 6%
Kazakhstan 74% 4%
UK 0% 4%
Taiwan 1280% 2%
USA 26639% 1%
Moldova -4% 1%
Georgia 218% 1%
Other -42% 6%
Total 28% 100%

Sales forecasts of AS „Olainfarm” for 2012.gada provide that unconsolidated sales of the company will reach 40 million lats (56.91 million euro), while consolidated sales will reach 47 million lats (66.9 million euro) According to these preliminary unconsolidated sales figures, during three months of 2012, 26.2% of annual target for unconsolidated sales are reached. According to these preliminary consolidated figures, during three months 25.6% of annual target for consolidated sales are reached. A/s Olainfarm is one of the biggest pharmaceutical companies in Latvia with nearly 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 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.   Information prepared by:

Salvis Lapins
Member of the Board
A/s „Olainfarm”
Tel: +371 6 7013 717
Cell: +371 2 6448 873
E-mail: slapinsh@olainfarm

Announcement on the draft resolutions of the Annual General Meeting of Shareholders

13/04/2012

Name of securities: JSC „Olainfarm” public issue of shares
ISIN code: LV0000100501
Paid fixed capital: 14 085 078 LVL
Date of the Annual General Meeting: April 27th, 2012, on 11:00
Place of the meeting: in Olaine, Rupnicu street 5.

Draft resolutions of the Annual General Meeting of Shareholders:

1. Report of the Board on results of operations in 2011.
Draft resolution:
To take notice of the Report of the Board on results of operations in 2011.

2. Report of the Council on results of operations in 2011.
Draft resolution:
To take notice of the Report of the Council on results of operations in 2011.
 
3. Report of the Auditing Committee.
Draft resolution:
To take notice of the Report of the Auditing Committee.
 
4. Approval of the Audited Annual Report for 2011.
Draft resolution:
To approve the Audited Annual Report of JSC „Olainfarm” for 2011.
 
5. Approval of the Audited Consolidated Annual Report for 2011.
Draft resolution:
To approve the Audited Consolidated Annual Report of JSC „Olainfarm” for 2011.
 
6. Distribution of profit of 2011.
Draft resolution:
To use part of the profit of JSC “Olainfarm” in amount of 867 793.50 lats (1234758,91 euro) to pay dividends to shareholders of JSC „Olainfarm”, (ISIN code of the shares LV0000100501) paying 6.16 santims per one share, but part of the profit in amount of 6 074 554.50 lats (8 643 312.36 euro) to reinvest in development of JSC “Olainfarm”.
Set August 3rd, 2012, as a record date for dividends.
 
7. Report of the Board on budget and on planned operations in 2012.
Draft resolution:
To take notice of Report of the Board on budget and on planned operations in 2012, which include Company’s unconsolidated turnover forecast for 2012 in amount of 40 million lats (56.91 million Euro), and JSC „Olainfarm” consolidated turnover forecast for 2012 in amount of 47.00 million lats (66.9 million Euro); Forecast of unconsolidated profit of JSC “Olainfarm” is 8.3 million lats (11.81 million Euro), but consolidated profit is 8.6 million lats (12.24 million Euro).
 
8. Election of the Certified Auditor for 2012.
Draft resolutions:
8.1. to elect SIA „Ernst & Young Baltic” (license No.17, unitary registration No. 40003593454) to be the certified auditor of JSC „Olainfarm” in 2012.
8.2. to set the total remuneration of certified auditor in accordance with the approved budget.
 
9. Election of the Auditing Committee.
Draft resolutions:     
9.1. to elect Zanna Karaseva to be the sole member of the Auditing Committee.
9.2. to set the total monthly remuneration of the members of the Auditing Committee at 500 lats.
 
10.  Draft resolutions:     
10.1.  to elect the Council of JSC “Olainfarm” consisting of the following members for the further term of five years, setting that this terms commences on April 28th, 2012:
Name, surname, personal details:
1. _____________ ______________ ____________;
2. _____________ ______________ ____________;
3. _____________ ______________ ____________;
4. _____________ ______________ ____________;
5. _____________ ______________ ____________.

10.2.  To set the total monthly remuneration of all the Supervisory Council in the amount of _____________.

Election of the members of the Council and resolution on the remuneration of the members of the Council shall be made in accordance with offers of the shareholders.

In Olaine, on April 13th, 2012.
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

Bank Finasta to Become a Market Maker for Olainfarm

12/04/2012

As of today, April 12, 2012, bank Finasta will become a liquidity provider for JSC Olainfarm shares that are listed on NASDAQ OMX Baltic Main List. Olainfarm is the only listed company in Latvia for which shares the market making is provided.

Bank Finasta, in the capacity of market maker for Olainfarm, has committed itself to maintain a specified price on the buy and sell side during trading hours. Finasta will maintain the demand and supply for Olainfarm shares at total value of LVL 2000 with a maximum spread between the demand and supply price of 4%. Consequently, the company investors and shareholders will be able to buy or sell shares at small quantities with less influence on the price.

“Supported by NASDAQ OMX and Finasta, we give extra assurance to our existing and potential investors. This is one more step by Olainfarm towards high quality investor relations. Both our present shareholders and potential investors will benefit from the liquidity provided to our listed shares,” believes Salvis Lapiņš, a JSC Olainfarm” Member of the Board.

Market making is a common practice to promote trading. Currently Orion Securities and now also Finasta are liquidity providers in the Baltic market. Now four Baltic listed companies have market makers: Olainfarm, City Service, Grigiskes, Vilkyškiu pienine and market making is provided also for the OMX Baltic Benchmark Fund units.

„Liquidity providing is not a common practice in the Baltic stock exchanges, and this is why we see here an opportunity to promote this financial service. Bank Finasta is actively expanding the range of services it is providing, thereby trying to find the most appropriate financial service for each individual client. Also, we are willing to make our contribution towards the development of NASDAQ OMX Baltic securities market,” explains Andrej Cyba, a Finasta Member of the Board, Director of Finance Markets division

„The fact that after the economic downturn both listed companies and stock exchange members are starting to pay more attention to liquidity is an evidence of market stability and positive sentiment in general. We hope that other listed companies and stock exchange members will follow the example demonstrated by Finasta and Olainfarm,” adds Daiga Auziņa-Melalksne, Head of Exchange Services, NASDAQ OMX Baltic Market.

Already for several years Olainfarm has been working towards enhancing the investor relations quality. At present Olainfarm is the only Latvian company traded on NASDAQ OMX Baltic market that is publishing the current monthly sales data, conducting investor webinars on a regular basis, and now also is the only Latvian listed company to have a market maker.

About JSC „Olainfarm”
JSC Olainfarm is one of the largest companies in the Baltic States with 40 years of experience in production of medicinal and chemical pharmaceutical products. The key principle of the Company is manufacturing of reliable and effective high quality products for Latvia and the rest of world. Products of JSC Olainfarm are exported to more than 30 countries, including the Baltic States, Russia, other CIS countries, Scandinavian, Western European and Asian countries, as well as North America and Australia.

About NASDAQ OMX Group
The inventor and transformer of the electronic exchange, The NASDAQ OMX Group, Inc., fuels economies with revolutionary technologies for the entire lifecycle of a trade – from risk management to trade to surveillance to clearing. In the US and Europe, we own and operate 24 markets, 3 clearinghouses and 6 central securities depositories supporting equities, options, fixed income, derivatives, commodities, futures and structured products. Able to traffic more than 1 million messages per second at sub-80 microsecond speeds with 99.999% uptime, our technology drives more than 70 exchanges in 50 developed and emerging countries into the future, powering 1 in 10 of the world’s securities transactions. Our award-winning data products and worldwide indexes are the benchmarks in the financial industry. Home to 3,400 listed companies worth $5.1 trillion in market cap whose innovations shape our world, we give the ideas of tomorrow access to capital today. Welcome to where the world takes a big leap forward, daily. Welcome to the NASDAQ OMX Century. To learn more, visit www.nasdaqomx.com. Follow us on Facebook (http://www.facebook.com/NASDAQ) and Twitter (http://www.twitter.com/nasdaqomx). (Symbol: NDAQ and member of S&P 500)

About Finasta bank
Finasta is the largest investment bank in the Baltic region by assets under management and the number of private banking clients. Established in 2008 the bank Finasta specialises in investment and private banking services. The bank provides a package of investment, financial management and corporate finance services to private and corporate clients and offers tailor-made corporate lending solutions.
The bank has over 11,000 clients with their investment assets worth EUR 385 million. Finasta bank is one of the largest brokerage service providers in the Baltic region.

More information:
Salvis Lapiņš
JSC „Olainfarm“ Management Board Member
mob. phone +37126448873
e-mail: slapinsh@olainfarm.lv

Andrej Cyba
Bank Finasta
Member of the Board, Director of Finance Markets division
phone: +370 5 2361856
e-mail: Andrej.Cyba@Finasta.com

NASDAQ OMX Baltic Market Services
phone: +371 67212431

Announcement about convening of the Annual General Meeting of „Olainfarm”

26/03/2012

Management Board of the Joint Stock company “Olainfarm” (registration number. 40003007246, registered address: Rupnicu iela 5, Olaine, LV-2114) announces that the Annual General Meeting of JSC “Olainfarm” Shareholders will be convened on April 27, 2012 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 2011.
2. Report of the Council about the results of operations in 2011.
3. Report of the Auditing Committee.
4. Approval of the audited Annual Report of 2011.
5. Approval of the audited consolidated Annual Report of 2011.
6. Distribution of profit of 2011.
7. Report of the Management Board about the budget and operational plan for 2012.
8. Elections of the sworn auditor for 2012 and setting of the remuneration for the sworn auditor.
9. Elections of the Auditing Committee and setting of the remuneration of the Auditing Committee.
10. Election of the Council.
11. Other issues.

Registration of the shareholders will take place on the day of the meeting, i.e. April 27, 2012 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 April 19th, 2012. Only those who are the shareholders at the date of record have the right to participate in the Annual General Meeting of shareholders on April 27, 2012, 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 of 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.nasdaqomxbaltic.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 April 13, 2012 until April 26, 2012 on working 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.

Information about the Annual General Meeting and rights of the shareholders is also available at web page of JSC „Olainfarm” http://www.olainfarm.lv, the system of Central Storage of Regulated Information http://www.oricgs.lv and the web page of JSC „NASDAQ OMX Riga” http://www.nasdaqomxbaltic.com.

Management Board of the JSC „Olainfarm” 

Sales of “Olainfarm” in February grow by 60%

14/03/2012

Preliminary consolidated sales figures of AS “Olainfarm” for February 2012 show that sales have grown by 60% compared to the same period a year ago and have reached 4.02 million lats (5.72 million euros). The biggest sales increases were achieved in USA, where sales grew 50 times, sales to Georgia grew 19 times, to Latvia nearly fourfold, sales to Ukraine more than doubled, sales to Lithuania grew by 27% and to Russia by 24%. The major sales markets of AS “Olainfarm” during February 2012 were Russia, Ukraine, Latvia, the UK, Kazakhstan and Belarus.

Consolidated sales:
February 2012
Share in total sales Changes to February 2011
Russia 33% 24%
Ukraine 22% 129%
Latvia 18% 263%
UK 10% NA
Kazakhstan 6% NA
Belarus 5% -43%
Moldova 2% 13%
Lithuania 1% 27%
Georgia 1% 1801%
USA 1% 4910%
Other 2% -77%
Total 100% 60%

During two months of 2012 preliminary consolidated sales of AS “Olainfarm” were 7.62 million lats (10.84 million euros), which represents an increase by 42% compared to the respective period of 2011. The most rapid sales increases were experienced in the USA, where sales have increased 267 times, to Latvia, where sales grew fourfold, Taiwan, almost fourfold, Kazakhstan, nearly threefold, and Ukraine, where sales more than doubled. Major sales markets of AS “Olainfarm” during first two months of 2012 were Russia, Ukraine, Latvia, the UK, Belarus, Kazakhstan and the USA.

Consolidated sales:
2 months of 2012
Share in total sales Changes to two months of 2011
Russia 35% 31%
Ukraine 26% 113%
Latvia 18% 316%
UK 5% 0%
Belarus 5% -47%
Kazakhstan 3% 179%
USA 2% 26639%
Lithuania 1% -17%
Moldova 1% -19%
Taiwan 1% 259%
Other 4% -58%
Total 100% 42%

Sales of pharmacies owned by AS “Olainfarm” during February were 0.5 million lats (0.71 million euros). During two months of 2012 sales of pharmacies were 1.02 million lats (1.45 million euros). According to unconsolidated sales figures of AS “Olainfarm”, sales during February were 3.54 million lats (5.04 million euros). This represents an increase by 41% compared to the same period a year ago. The biggest sales increases were achieved in USA, where sales grew 50 times, sales to Georgia grew 19 times, to Latvia nearly fourfold, sales to Ukraine more than doubled, sales to Lithuania grew by 27% and to Russia by 24%. The major sales markets of AS “Olainfarm” during February 2012 were Russia, Ukraine, Latvia, the UK, Kazakhstan and Belarus.

Unconsolidated sales:
February 2012
Share in total sales Changes to February 2011
Russia 38% 24%
Ukraine 25% 129%
UK 11% NA
Latvia 6% 16%
Kazakhstan 6% NA
Belarus 6% -43%
Moldova 2% 13%
Lithuania 2% 27%
Georgia 1% 1801%
USA 1% 4910%
Other 2% -77%
Total 41%

During two months of 2012, according to preliminary unconsolidated figures, the sales of AS “Olainfarm” were 6.63 million lats (9.43 million euros), which is an increase by 24% compared to the respective period of 2011. The most rapid sales increases were experienced in the USA, where sales have increased 267 times, to Latvia, where sales grew fourfold, Taiwan, almost fourfold, Kazakhstan, nearly threefold, and Ukraine, where sales more than doubled. Major sales markets of AS “Olainfarm” during first two months of 2012 were Russia, Ukraine, Latvia, the UK, Belarus, Kazakhstan and the USA.

Unconsolidated sales:
a 2 months of 2012
Share in total sales Changes to 2 months of 2012
Russia 40% 31%
Ukraine 30% 113%
Latvia 6% 19%
UK 6% 0%
Belarus 6% -47%
Kazakhstan 3% 179%
USA 2% 26639%
Lithuania 1% -17%
Moldova 1% -19%
Taiwan 1% 259%
Other 4% -58%
Total 100% 24%

Although no forecasts of AS “Olainfarm” are formally approved, for planning purposes the Board of the Company is using forecasts according to which the unconsolidated sales of the company in 2012 will reach 40.6 million lats (57.8 million euro), which represents an increase by 12% compared to sales made during 2011. According to these preliminary unconsolidated sales figures, during two months of 2012, 16.33% of sales forecasts for the year 2012 are already met. AS Olainfarm is one of the biggest pharmaceutical companies in Latvia with nearly 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 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.    

Information prepared by: Salvis Lapins
Member of the Board
AS Olainfarm
Cell: +371 26448873
e-mail: Salvis.Lapins@olainfarm.lv

Fourth Quarter 2011 Investor Conference Webinar

07/03/2012

On March 6 AS „Olainfarm” organized its fourth quarter 2011 Investor Conference Online Webinar for investors. During the webinar the member of the management board of AS „Olainfarm” Salvis Lapiņš analysed the financial results of fourth quarter and 12 months of 2011 and informed about the company’s plans for 2012.

According to Salvis Lapiņš, this year in dividends it is planned to pay out 10-15% of company’s profit of 2011, if it will be approved by Olainfarm’s shareholders in the next annual general meeting.

During the webinar, Salvis Lapiņš also informed that the company is moving forward with the liquidity provider program and it is planned to launch the market making of company’s shares in April 2012.

In relation to acquisition of pharmacies, Salvis Lapiņš revealed that the total sum spent on the acquisition reached 4.5 million LVL, from which 80% was bank’s financing, while the rest 20% was covered by Olainfarm. It is planned that during 2012 total sales of all pharmacies will reach 7 million lats.

Answering the question about the economical sanctions against Belarus and their possible impact on the company, Salvis Lapiņš informed that it is unlikely that sanctions will also include the embargo of medicine import, therefore Olainfarm most probably won’t be directly affected by them.

The recorded Olainfarm webinar is available online: http://ej.uz/OLFQ42011ieraksts, and the presentation is available here:
https://newsclient.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=494258&messageId=605711.

Olainfarm thanks all participants, who joined the webinar, and encourages everybody to follow company’s announcements to get information on the next webinar!

AS Olainfarm is one of the biggest pharmaceutical companies in Latvia with nearly 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 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.    

Information prepared by:
Salvis Lapins
Member of the Board
AS Olainfarm
Cell: +371 26448873
e-mail: Salvis.Lapins@olainfarm.lv

“Olainfarm” organizes the second webinar.

06/03/2012

On March 6 AS „Olainfarm” will hold the second webinar, during which unaudited results of 4th quarter and the entire 2011 will be presented, outlines for 2012 will be disclosed and questions of the audience will be answered. Presentation of the webinar is available in the enclosed attachment.

AS Olainfarm is one of the biggest pharmaceutical companies in Latvia with 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 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia. 

Presentation   

Information prepared by:
Salvis Lapins
         
Member of the Board
AS Olainfarm
         
Cell: +371 26448873
         
e-mail: Salvis.Lapins@olainfarm.lv

Olainfarm will Hold Fourth Quarter 2011 Investor Conference Webinar

02/03/2012

AS „Olainfarm” invites shareholders, investors, mass media representatives and other stakeholders to join its fourth quarter 2011 investor conference webinar scheduled on March 6, 2012 at 16:00 (EET).

Webinar will be hosted by the member of the management board Salvis Lapiņš. The presentation will be in English.

During the webinar Salvis Lapiņš will inform about AS “Olainfarm” non-audited financial results of the year 2011 and analyse company’s activities and financial indicators of the fourth quarter 2011 and first results of 2012.

After the presentation investors will be welcomed to ask questions.  Due to the limited webinar time, please send in your questions in advance till March 5 to e-mail: ieva.kadakovska@nasdaqomx.com.
 
What is webinar?
Webinar is a virtual conference, during which company’s representative gives information about the company and its future plans. Webinar allows interactive communication and a possibility to ask questions and get answers directly from the company.

How to join the webinar?
To join the webinar, please go to the site http://ej.uz/OLFQ4vebinars on March 6, 2012 at 16:00, choose „Enter as a guest”, type in your name, surname and click „enter”. You will be then directed to the webinar screen. Prior registration is not necessary.

Additional information on the webinar
All you need to have is a computer with internet connection and headphones. No additional installations of special programs are necessary.
You will be able to ask questions in writing or just listen to the host of webinar.
 
Join the webinar and be the first one to hear the news!

AS Olainfarm is one of the biggest pharmaceutical companies in Latvia with 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 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.  
 
Information prepared by:
Salvis Lapins
         
Member of the Board
AS Olainfarm
         
Cell: +371 26448873
         
e-mail: Salvis.Lapins@olainfarm.lv

Olainfarm’s profit almost doubles

29/02/2012

Consolidated financial accounts of AS „Olainfarm” for 2010 show that the Company has set yet another record in profits by making the net profit of 6.8 million lats (9.7 million euros). This represents nearly 93% increase compared to the net profit of 2010, when AS “Olainfarm” made the net profit of 3.53 million lats (5.02 million euros).

Unaudited profit and loss statement of AS „Olainfarm” for 2011 shows that the company made sales of 36.71 million lats (52.24 million euros). Concern’s after tax profit during this period was 6 833 082 lats (9 722 600 euros). In 2010 AS “Olainfarm” made net profit of 3 539 451 lats (5 036 185 euros).

“Last year we started to build our retail pharmacy network in Latvia, and this year we are going to expand it. We are going to continue establishing our position as a steadily growing manufacturer of high-quality pharmaceuticals. Forty years of production experience helps us to create pharmaceuticals that will be the flagship in the particular product range. The skill of acquiring new markets while consolidating the existing markets, which has been developed during recent years, is going to help promote the sales volume growth,” announced Valerijs Maligins, Olainfarm’s Chairman of the Board.
During 2011 sales have grown in all main sales markets of the company, except in Georgia, where, compared to 2010, the sales were by 20% smaller. In other markets growth rate varied from 17% in Russia to 1710% in The Netherlands. Even in Belarus, which faced several local currency difficulties during 2011 and experienced several devaluations, AS “Olainfarm” managed to increase its sales by more than 25%. Main sales markets of AS “Olainfarm” during 2011 were Russia, Ukraine, Belarus, Latvia, Kazakhstan and United Kingdom.

During 2011 39 registration cases of products of AS “Olainfarm” were completed and 4 products were registered in system of the WHO. Among others, registration of Olvazol® capsules in Ukraine is still waiting its completion.

Annual General Meeting of Shareholders of „Olainfarm” held on April 29, 2011 approved the operating plan of the company. According to it, the forecast sales of the Concern for 2011 were 29.4 million lats (41.8 million Euro), but the net profit is forecast at 5.1 million lats (7.3 million Euro). On November 16, 2011 Board of the Company decided to increase annual sales and profit targets of the Company. The new sales target was set at 35 million lats (49.8 million euros) while the new profit target was set at 6.3 million lats (8.96 million euros). According to this unaudited report during 2011 105% of revised sales targets and108% of revised profit targets are met.

During 2011 changes have been made to the composition of the Concern and now it consists from Parent company AS “Olainfarm”, its daughter companies SIA “Ozols JRD”, whose main activity will be to organize sports and active leisure activities in the town of Olaine, as well as daughter company “Olainfarm Enerģija”, which will produce and sell electric energy, using cogeneration technologies. Also during the 4th quarter of 2011 travel agency „First Class Lounge” and pharmaceutical retail companies SIA „Ilmas Aptiekas”, SIA Juko 99”, SIA „Veritas Farm”, SIA „Inula Farma”, SIA „Vita Plus” un AS „Lege Artis Rīga”, were purchased. Shares in SIA „Reinolds” were alienated.
AS Olainfarm is one of the biggest pharmaceutical companies in Latvia with 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 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.    

Information prepared by:
Salvis Lapins
         
Member of the Board
AS Olainfarm
         
Cell: +371 26448873
         
e-mail: Salvis.Lapins@olainfarm.lv

Minister of Health Ingrida Circene visits “Olainfarm”

29/02/2012

Today, on February 29, 2012, AS “Olainfarm” was visited by Minister of Health Ingrida Circene and together with Chairman of Olainfarm’s Board Mr. Valerijs Maligins opened an extended Centre of Chromatography. Minister also visited the unit of final dosage forms and saw other recent improvements in the company.

“”Olainfarm” has proven that with effective and high quality operations one can achieve stable economic development, despite any financial crises. This is also a good example for other Latvian companies,” Ingrida Circene shared her impressions.

Centre of Chromatography is a structural unit of Quality Management department, conducting analytical testing with methods or instrumental chromatography, developing and validating new testing methods. It also performs chromatographic analyses, quality control of medicines, active pharmaceutical ingredients and chemical products, both for finished and in progress products.

Centre of Chromatography was initially opened in January of 2007. In order to increase its capacity, at the end of 2011 extension of premised took place and new laboratory furniture and equipment was purchased. This modernisation resulted in doubling of space and creation of 12 new workplaces. New equipment will increase productivity of laboratory and its capacity for scientific work and introduction of new medicines.

AS Olainfarm is one of the biggest pharmaceutical companies in Latvia with nearly 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 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.    

Information prepared by:
Salvis Lapins
Member of the Board
AS Olainfarm
Cell: +371 26448873
e-mail: Salvis.Lapins@olainfarm.lv

Sales of “Olainfarm” grew by 35% in January

15/02/2012

Preliminary data on consolidated sales of AS “Olainfarm” during January of 2012, shows that sales have increased by 35% compared to the similar period one year ago and have reached 3.52 million lats (5 million euros). Biggest sales increases were achieved in Latvia (by 389%), Taiwan (by 259%), Ukraine (by 88%), and Russia (by 49%). Major sales markets of AS “Olainfarm” during January were Russia, Ukraine, Latvia, Belarus and the USA.

Consolidated sales, January 2012

Share in total sales Increase to January 2011
Russia 38% 49%
Ukraine 28% 88%
Latvia 19% 389%
Belarus 5% -51%
USA 3% NA
Taiwan 1% 259%
Bulgaria 1% -54%
Spain 1% NA
Azerbaijan 1% 7%
Kyrgyzstan 1% NA
Other 2% -87%
Total 100% 35%

Sales made by pharmacies owned by AS “Olainfarm” in January 2012 were 0.52 million lats (0.74 million euro).

Thus, according to preliminary unconsolidated sales figures of AS “Olainfarm” for January of 2012, unconsolidated sales made during January were 3.02 million lats (4.29 million euro), which represents an increase by 16% compared to unconsolidated sales made in January 2011. Biggest sales increases were achieved in Taiwan (by 259%), Ukraine (by 88%), Russia (by 49%), Latvia (by 25%). According to unconsolidated sales, the major sales markets of AS “Olainfarm” in January 2012 were Russia, Ukraine, Belarus, Latvia and the USA.

Unconsolidated sales in January 2012

Share in total sales Increase to January 2011
Russia 44% 49%
Ukraine 33% 88%
Belarus 6% -51%
Latvia 6% 25%
USA 4% NA
Taiwan 2% 259%
Bulgaria 1% -54%
Spain 1% NA
Azerbaijan 1% 7%
Kyrgyzstan 1% NA
Other 2% -87%
Total 100% 16%

Although no forecasts of AS “Olainfarm” are formally approved, for planning purposes the Board of the Company is using forecasts according to which the unconsolidated sales of the company in 2012 will reach 40.6 million lats (57.8 million euro), which represents an increase by 12% compared to sales made during 2011. According to these preliminary unconsolidated sales figures, during January 2012, 7.4% of sales forecasts for the year 2012 are already met.

AS Olainfarm is one of the biggest pharmaceutical companies in Latvia with nearly 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 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.    

Information prepared by:
Salvis Lapins
Member of the Board
AS Olainfarm
Cell: +371 26448873
e-mail: Salvis.Lapins@olainfarm.lv

For acquisition of pharmacies “Olainfarm” used bank financing

08/02/2012

In order to finance recent purchases of pharmacies AS “Olainfarm” has taken a loan of 4.2 million lats (6 million euros) from AS „SEB Banka”. These funds were used to purchase 100% shares in companies „Ilmas Aptiekas”, „Inula Farma”, “Juko 99″, “Lege Artis Rīga” and “Veritas Farm”. A commercial pledge worth 6.32 million lats was taken by the bank in order to secure the said loan. AS “Olainfarm” currently owns 30 pharmaceutical retail points of sale in Riga, its agglomeration, Vidzeme, Kurzeme and Latgale. Companeis purchased by Olainfarm also own 3 licenses for pharmaceutical retail. AS “Olainfarm” plans to manage 40 pharmacies all over Latvia before the middle of 2012.

In November AS “Olainfarm” purchased 100% shares in SIA “Ilmas aptiekas” and SIA “Juko99”. These companies combined own 18 pharmaceutical points of sales in Riga, its agglomeration, Vidzeme and Kurzeme. In December AS “Olainfarm” purchased four more companies thus adding 12 more pharmacies.

Intentions of AS “Olainfarm” to create its chain of pharmacies were announced in May 2010. Plans of “Olainfarm” provide that total sales of pharmacies already purchased will reach 7 million lats (10 million euros).

AS Olainfarm is one of the biggest pharmaceutical companies in Latvia with nearly 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 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.    

Information prepared by:
Salvis Lapins
Member of the Board
AS Olainfarm
Cell: +371 26448873
e-mail: Salvis.Lapins@olainfarm.lv

Sales of “Olainfarm” in December Increased by 27%

16/01/2012

Preliminary results of AS “Olainfarm” for December 2011 show that during this period sales have increased by 27% compared to the same period a year ago and have reached 2.66 million lats (3.78 million euros). The biggest sales increase was achieved in Georgia where sales have increased nearly 9 times, in Lithuania where sales increased almost sevenfold, Ukraine where sales increased by 31% and Belarus where sales increased by 21%. The major sales markets of AS “Olainfarm” in December 2011 were Russia, Ukraine, the UK, Lithuania, Kazakhstan and Latvia.

December 2011 Share in total sales Changes to December 2010
Russia 45,7% 6%
Ukraine 13,0% 31%
UK 7,2% NA
Lithuania 5,9% 565%
Kazakhstan 5,2% -32%
Latvia 4,9% 3%
Belarus 3,7% 21%
Uzbekistan 3,7% 94%
Georgia 3,6% 791%
USA 3,0% NA
Other 4,1% -40%
Total 100,0% 27%

During twelve months of 2011 preliminary sales of AS “Olainfarm” were 36.27 million lats (51.60 million euros) – which represents an increase by 45% compared to twelve months of 2010. The most rapid sales increases were achieved in the Netherlands, where sales have increased 18 times, in Ukraine, by 132%, Lithuania by 53%, the UK by 47% and Latvia, where sales increased by 33%. Major sales markets of AS “Olainfarm” during twelve months of 2011 were Russia, Ukraine, Belarus, Latvia, Kazakhstan and the UK.

2011 Share in total sales
Changes to 2010
Russia 38,4% 17%
Ukraine 25,8% 132%
Belarus 8,0% 25%
Latvia 6,0% 33%
Kazakhstan 4,9% 30%
UK 3,3% 47%
The Netherlands 1,9% 1710%
Uzbekistan 1,6% 29%
Lithuania 1,4% 53%
Georgia 1,2% -21%
Other 7,5% 71%
Total 100,0% 45%

On November 16, 2011 Management Board of AS “Olainfarm” revised sales and profit forecast for 2011, and set the new sales forecast for 2011 at 35 million lats (49.8 million euros), and the new profit forecast at 6.3 million lats (8.96 million euro). According to these preliminary sales figures, during twelve months of 2011 104% of revised annual sales target were met.

AS Olainfarm is one of the biggest pharmaceutical companies in Latvia with nearly 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 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.    

Information prepared by:
Salvis Lapins
Member of the Board
AS Olainfarm
Cell: +371 26448873
e-mail: Salvis.Lapins@olainfarm.lv

Answers to questions unanswered during the webinar.

16/01/2012

Question: There was a twofold increase of loans to management and employees over Q3 2011 to LVL 1.3 million: what are the major terms and conditions of those loans – interest rate, collateral, term etc?

Answer: Many of the loans referred to here are loans to employees for conditions similar to those that company gets from its bank. The biggest share of the loans is to Mr. Maligins, however, Mr. Maligins has also lent significant amounts to the company but because they were subordinated to the bank loan, it was not possible to offset them. Recently the bank has allowed us to offset these loans against each other and as of the end of 2011 loan to Mr. Maligins is fully settled.

Question: Purchases of property, plant and equipment in 9 months 2011 amounted to LVL 2.2 million. The question is: what are the main items in which investments were made?

Answer: The main items are: equipment and machinery (mainly analytical) 0.7 million lats, advanced payments for fixed assets and construction 0.7 million lats (as this is cash flow you are referring to), other fixed assets 0.2 million lats, costs of registration 0.16 million lats.

Question: According to the cash flow statement, proceeds from issue of shares was a negative LVL 352K in 9 months 2011: did the company buy own shares and if it did for what purpose?

Answer: Unfortunately there has been a misrecord in our books. In fact these are the dividends we paid and should have been booked respectively. Thanks for pointing this out to us, and for a year-end report this will be booked correctly.

Question: What are the basic commercial terms based on which “marketing expense” is formed, in which markets and to which companies it is paid?

Answer: Our approach towards the marketing expenses differs from country to country. In some countries (Belarus, Latvia, Tajikistan) we have our own representative office conducting marketing activities. In Russia, Ukraine, Kazakhstan, Uzbekistan, Azerbaijan and Moldova we have outsourced marketing services from a regional or local pharma marketing companies. For these countries we have selected products that must be promoted and fee for marketing is calculated as percentage of sales of promoted products in given countries. This percentage is between 30 and 40 depending on a product and country. Yet, in another countries (Georgia, and Ukraine until recently) we ourselves do not have any marketing costs, but instead we sell our products with a certain discount and that discount is then used by our partner to cover the marketing costs.

Question: What is the total investment in Olainfarm Energija, who is the owner of the other 50% share and when is the energy production expected to begin (also, what is the expected Olainfarm own consumption / external sales ratio of the produced energy)?

Answer: The total planned investment in Olainfarm Energija is 2 million euros. Owner of other 50% of this company is Mr Girts Stelbovics, an energy sector professional, not related to Olainfarm in any way. The energy production is expected to begin in 2nd quarter of 2013. Olainfarm will purchase all the heat produced by the new company, and because of new technologies used in heat production, it is expected that the cost of heat will be by about 10% lower than what current Olainfarm heat costs are. In parallel with the heat, the new company will also produce electric energy, and 100% of that will be sold to Latvenergo, national power company.

Question: Any M&A deals planned to strengthen the product portfolio?

Answer: No, at the moment there are no M&A deals under way that I could tell about, however, as we have noted several times before, Olainfarm remains open for M&A opportunities to strengthen its product portfolio and enter new markets.

Question: Is Mr Lapins planning to increase or reduce number of shares in Olainfarm that he owns?

Answer: I strongly believe that due to many reasons not related to Olainfarm, company’s shares are significantly undervalued at the moment, so I am more likely to buy more shares than sell any of existing.

AS „Olainfarm” receives „Cooperation Partner 2011” Award

10/01/2012

Todau, on January 10, 2012 Chairman of the Board of AS „Olainfarm” Valerijs Maligins received the „Cooperation Partner 2011” Award from Chairman of the Free Trade Union Confederation of Latvia Mr. Peteris Krigers. The Award in form of a acorn along with the Diploma of Appreciation was awarded celebrating the successful cooperation between the company and the trade union. AS “Olainfarm” was nominated for the award by the Latvian Industrial Trade unions.
 
“We do support our employees and are being tough in defending their social, economic, labour and job safety interests. The team of more than 800 people and its intelectual potential, that helps us develop production of high quality exportable products is our majos asset,” says Valerijs Maligins, Chairman of the Board of AS „Olainfarm”.
 
AS „Olainfarm” constantly provides opportunity for its personnel to attend different traaining courses and seminars, including on an international level, to raise their professional qualifications. The Company creates new jobs, good working conditions, stable remuneration and cares about recreation possibilities of its people on sporting and other corporate events. During 2011 number of employees of AS “Olainfarm” has increased by 90.

AS „Olainfarm” also cares about creating comfortable working conditions for its employees, therefore an ongoing modernizing of workshops and laboratories is taking place. At the end of 2011 reconstruction of changing rooms, cantene and conference facilities were completed.

Six years ago AS “Olainfarm” already received „Cooperation Partner 2005” Award from the Free Trade Union Confederation of Latvia.

“Olainfarm” has purchased another 12 pharmacies in Latvia

23/12/2011

In December AS “Olainfarm” has negotiated the purchase of four pharmacy retailer companies, thus acquiring 12 points of pharmaceuticals sales. As a result, currently the company has 30 pharmacies in their possession, located in Riga, agglomeration of Riga, Vidzeme, Kurzeme and Latgale. The pharmaceuticals retailers, purchased by AS “Olainfarm”, also have additional 3 pharmacy licenses. By the middle of next year AS “Olainfarm” is planning to manage 40 pharmacies.

“Experience shows that distribution of medicines in Latvia is particularly successful if you have a direct access to the customer. Our future plans include managing 40 points of pharmaceuticals sales by the middle of the next year. Lately, we have made some significant investments to come closer to this goal. Furthermore, we continue to look for and evaluate further network expansion opportunities,” announced Valerijs Maligins, Olainfarm’s Chairman of the Board.

In November, 100% of shares of SIA “Ilmas aptiekas” and SIA “Juko 99” were purchased by AS “Olainfarm”. These companies combined own 18 points of pharmaceutical sales in Riga, agglomeration of Riga, Vidzeme and Kurzeme.

As a direct owner of pharmacy chain, AS “Olainfarm” will be able to ensure that its products as well as the products of other producers will be available to customers at more friendly prices. Also, the top-level pharmaceutical care will be available to the chain clients, as acquired pharmacies employ many high-level experienced professionals. AS “Olainfarm” announced that no significant changes are planned either to the number or to the composition of the staff.

AS “Olainfarm” plans to establish a pharmacy chain have been announced as early as in May 2010. AS “Olainfarm” is expecting that the turnover of newly purchased pharmacies will reach 7 millions LVL (9.96 millions Euro) in 2011. AS Olainfarm is one of the biggest pharmaceutical companies in Latvia with nearly 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 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

Information prepared by:
Salvis Lapins
Member of the Board
AS Olainfarm
Cell: +371 26448873
e-mail: Salvis.Lapins@olainfarm.lv

“Olainfarm’s” sales in November increase by 71%

15/12/2011

Preliminary sales results of AS “Olainfarm” for November show that sales have increased by 71% compared to the same period a year ago and have reached 3.68 million lats (5.24 million euro). The biggest sales increases were achieved in Bulgaria, where sales increased 24 times, Georgia, where sales increased 17 times, Kazakhstan, where they grew by 194%, Belarus by 122%, Ukraine by 111% and Azerbaijan by 89%. The major sales markets of AS “Olainfarm” in November 2011 were Russia, Ukraine, Belarus, Kazakhstan and Latvia. During November 2011 significant shipments were also made to the USA.

November 2011 Share in total sales Changes to November 2010
Russia 39% 46%
Ukraine 29% 111%
Belarus 10% 122%
Kazakhstan 7% 194%
Latvia 5% -6%
USA 2% NA
Bulgaria 2% 2283%
UK 1% -10%
Azerbaijan 1% 89%
Georgia 1% 1569%
Other 3% -19%
Total 100% 71%

Preliminary sales of AS “Olainfarm” during 11 months of 2011 were 33.61 million lats (47.82 million euro), which represents an increase by 45% compared to the same period of 2010. The most rapid sales increases were experienced in the Netherlands, where during 11 months of this year sales increased 18 times, Ukraine, where they increased by 139%, Latvia by 35%, Kazakhstan by 32%, Belarus by 25% and The UK, where sales grew by 23%. Major sales markets of AS “Olainfarm” during 11 months of 2011 were Russia, Ukraine, Belarus, Latvia and Kazakhstan.

11 months of 2011 Share in total sales Changes to 11 months of 2010
Russia 38% 18%
Ukraine 27% 139%
Belarus 8% 25%
Latvia 6% 35%
Kazakhstan 5% 32%
UK 3% 23%
The Netherlands 2% 1710%
Uzbekistan 1% 21%
Georgia 1% -36%
Lithuania 1% 13%
Other 8% 68%
Total 100% 45%

On November 16, 2011 Management Board of AS “Olainfarm” revised sales and profit forecast for 2011, and set the new sales forecast for 2011 at 35 million lats (49.8 million euros), and the new profit forecast at 6.3 million lats (8.96 million euro). According to these preliminary sales figures, during eleven months of 2011 96% of revised annual sales target were met.

AS „Olainfarm“ ir viens no lielākajiem uzņēmumiem Baltijas valstīs ar gandrīz 40 gadu pieredzi medikamentu un ķīmiski farmaceitisko produktu ražošanā. Kompānijas darbības pamatprincips ir ražot uzticamus un efektīvus augstākās kvalitātes produktus Latvijaiun visai pasaulei. Šobrīd AS „Olainfarm“ produkcija tiek eksportēta uz vairāk nekā 30 pasaules valstīm, tostarp Baltijas valstīm, Krieviju, citām NVS valstīm, Eiropu, Ziemeļameriku, Āzijas valstīm un Austrāliju.

Papildu informācija:

Salvis Lapiņš

AS „Olainfarm“ valdes loceklis

mob. tālr. +37126448873

e-pasts: slapinsh@olainfarm.lv

“Olainfarm” announces new cooperation partners and forecasts

08/12/2011

Today in Third Quarter 2011 Investor Conference Webinar the member of the management board Salvis Lapiņš presented analysis of third quarter financial results and announced AS “Olainfarm” expansion plans:

  • an agreement has been reached with one of the company’s multinational partners about increasment of the purchases from AS “Olainfarm” in 2012 by 67% or more than one million euro;
  • cooperation agreements are established, which provides that AS “Olainfarm” will become the distributor and marketing partner of a large European pharmaceutical manufacturer. In Latvia and Belarus AS “Olainfarm” will distribute in total 23 products of the partner. The first realization is expected at the end of 2012;
  • currently AS “Olainfarm” budget proposal is being discussed, which foresees non-consolidated sales growth by 12% in 2012;
  • it is planned that in 2012 one of the Baltic Exchange members will ensure AS “Olainfarm” stock liquidity.

Results for the first 9 months of 2011 show that sales of AS “Olainfarm” have grown by nearly 40% compared to the same period a year ago and have reached 26.3 million LVL (37.4 million EUR). Sales made during first 9 months of this year already exceed the sales made during the entire 2010 by more than one million lats.

Increase in sales directly influenced company’s profits, which during the third quarter of 2011 reached the best level so far of 1.8 million LVL (2.6 million EUR). The profit of the first 9 month period was 5 million LVL (7.1 million EUR).

On November 16, 2011 Board of the Company decided to increase annual sales and profit targets of the Company. The new sales target was set at 35 million LVL (49.8 million EUR) while the new profit target was set at 6.3 million LVL (8.96 million EUR). According to this unaudited report during 9 months of 2011 75% of revised sales targets and 80% of revised profit targets are met during 3 quarters of 2011.

AS Olainfarm is one of the biggest pharmaceutical companies in Latvia with nearly 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 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

Webinar presentation

Information prepared by:
Salvis Lapins
Member of the Board
AS Olainfarm
Cell: +371 26448873
e-mail: Salvis.Lapins@olainfarm.lv

Facts

07/12/2011
  • Turnover in 2013 – 77.96 million euros;
  • Post-tax profit in 2013 –12.63 million euros;
  • Number of company employees – 1004 (on January 1, 2014);
  • Major export markets – Russia, Ukraine, Belorussia, Kazakhstan, Great Britain;
  • Exports volume in 2013 – 60.03 million euro;
  • Farthest export market for JSC Olainfarm – Australia;
  • In total, for all markets, JSC Olainfarm produces around 60 types of medicine and around 30 pharmaceutical agents;
  • Representatives of the JSC Olainfarm are present in 10 countries;
  • Only approximately 10% of the total JSC Olainfarm products are realized on the Latvian market.
  • Established in 1972.

 

Folow us

06/12/2011

Welcome

06/12/2011

Joint Stock Company „OlainFarm” is one of the biggest pharmaceutical companies in Latvia with nearly 40 years of experience in production of medication and chemical and pharmaceutical products.

The company was established in 1972 as a state enterprise „Olaine Chemical-pharmaceutical Plant”. The main objective of the company’s establishment was to supply all Soviet Union plants manufacturing finished drug forms with pharmaceutical substances and intermediates.

At present JSC ‘”OlainFarm” is one of the leading representatives of the pharmaceutical sector in Latvia and Baltic States, which employs almost 900 highly qualified professionals. The company is provided with the modern international practice technologies and certified in accordance with the requirements of the European Union Good manufacturing practice (GMP), USA inspection standards (FDA), Environmental management standard ISO 14001:2004

Olainfarm will Hold Third Quarter 2011 Investor Conference Webinar

05/12/2011

AS „Olainfarm” invites shareholders, investors, mass media representatives and other stakeholders to join its third quarter 2011 investor conference webinar scheduled on December 8, 2011 at 16:00 (EET).


 

Webinar will be hosted by the member of the management board Salvis Lapiņš. The presentation will be in English.

 

During the webinar topics in relation to AS “Olainfarm” expansion plans and analysis of third quarter financial results will be discussed.

 

After the presentation investors will be welcomed to ask questions. 

Due to the limited webinar time, please send in your questions in advance till December 7 to e-mail: ieva.kadakovska@nasdaqomx.com.

 

AS „Olainfarm” is the first company on NASDAQ OMX Baltic exchanges to communicate with investors via interactive webinar platform, offering real-time interaction between investors and the company.

 

WHAT IS WEBINAR?

Webinar is a virtual conference, during which company’s representative gives information about the company and its future plans. Webinar allows interactive communication and a possibility to ask questions and get answers directly from the company.

 

HOW TO JOIN THE WEBINAR?

To join the webinar, please go to the site http://ej.uz/olainfarm on December 8, 2011 at 16:00, choose „Enter as guest”, type in your name, surname and click „enter”. You will be then directed to the webinar screen. Prior registration is not necessary.

 

ADDITIONAL INFORMATION ON THE WEBINAR

All you need to have is a computer with internet connection and headphones. No additional installations of special programs are necessary.

You will be able to ask questions in writing or just listen to the host of webinar.

 

Join the webinar and be the first one to hear the news!

 

AS Olainfarm is one of the biggest pharmaceutical companies in Latvia with nearly 40 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company#ins_quot2#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 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.    

 

Information prepared by:

Salvis Lapins

Member of the Board

AS Olainfarm

Cell: +371 26448873

e-mail: Salvis.Lapins@olainfarm.lv

Olainfarm will Hold Third Quarter 2011 Investor Conference Webinar

05/12/2011

AS „Olainfarm” invites shareholders, investors, mass media representatives and other stakeholders to join its third quarter 2011 investor conference webinar scheduled on December 8, 2011 at 16:00 (EET).


 

Webinar will be hosted by the member of the management board Salvis Lapiтр. The presentation will be in English.

 

During the webinar topics in relation to AS “Olainfarm” expansion plans and analysis of third quarter financial results will be discussed.

 

After the presentation investors will be welcomed to ask questions. 

Due to the limited webinar time, please send in your questions in advance till December 7 to e-mail: ieva.kadakovska@nasdaqomx.com.

 

AS „Olainfarm” is the first company on NASDAQ OMX Baltic exchanges to communicate with investors via interactive webinar platform, offering real-time interaction between investors and the company.

 

WHAT IS WEBINAR?

Webinar is a virtual conference, during which company’s representative gives information about the company and its future plans. Webinar allows interactive communication and a possibility to ask questions and get answers directly from the company.

 

HOW TO JOIN THE WEBINAR?

To join the webinar, please go to the site http://ej.uz/olainfarm on December 8, 2011 at 16:00, choose „Enter as guest”, type in your name, surname and click „enter”. You will be then directed to the webinar screen. Prior registration is not necessary.

 

ADDITIONAL INFORMATION ON THE WEBINAR

All you need to have is a computer with internet connection and headphones. No additional installations of special programs are necessary.

You will be able to ask questions in writing or just listen to the host of webinar.

 

Join the webinar and be the first one to hear the news!

 

AS Olainfarm is one of the biggest pharmaceutical companies in Latvia with nearly 40 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company#ins_quot2#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 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.    

 

Information prepared by:

Salvis Lapins

Member of the Board

AS Olainfarm

Cell: +371 26448873

e-mail: Salvis.Lapins@olainfarm.lv

Announcement about election of the Chairperson and Deputy Chairperson of the Supervisory Council

25/11/2011

At its meeting held on November 24th, 2011, the Supervisory council of AS “Olainfarm” elected its Chairperson and Deputy Chairperson. Mrs. Valentina Andrejeva was unanimously elected to be the new Chairperson of Supervisory Council of AS „Olainfarm” and Mrs Elena Dudko was unanimously elected to be the new deputy Chairperson of Supervisory Council of AS „Olainfarm”



In Olaine, November 25th, 2011

Information prepared by:

Salvis Lapins

AS Olainfarm

Member of the Board

Rupnicu iela 5, Olaine

Latvia, LV 2114

Tel: +371 6 7013 717

Fax: +371 6 7013 777

e-mail: slapinsh@olainfarm.lv

Announcement about election of the Chairperson and Deputy Chairperson of the Supervisory Council

25/11/2011

At its meeting held on November 24th, 2011, the Supervisory council of AS “Olainfarm” elected its Chairperson and Deputy Chairperson. Mrs. Valentina Andrejeva was unanimously elected to be the new Chairperson of Supervisory Council of AS „Olainfarm” and Mrs Elena Dudko was unanimously elected to be the new deputy Chairperson of Supervisory Council of AS „Olainfarm”



In Olaine, November 25th, 2011

Information prepared by:

Salvis Lapins

AS Olainfarm

Member of the Board

Rupnicu iela 5, Olaine

Latvia, LV 2114

Tel: +371 6 7013 717

Fax: +371 6 7013 777

e-mail: slapinsh@olainfarm.lv

“Olainfarm” increases its sales and profit forecast

16/11/2011

Management Board of AS “Olainfarm” today decided to raise the profit and sales forecast of the company for 2011. Revised budget and operating plan of AS “Olainfarm” for 2011 provides that the company will have sales worth 35 million lats (49.8 million euros) and will make the net profit of 6.3 million lats (8.96 million euros). Sales forecast has been increased by about 19%, while the profit forecast was increased by 24%. This revised forecast has been prepared basing upon unconsolidated figures of AS “Olainfarm” and does not include any impact that will be left by pharmacies that will be purchased before the end of the year.



Previous version of budget and operating plan of AS “Olainfarm” for 2011 provided that sales of the company in 2011 will reach 29.4 million lats (41.8 million euros), while the net profit will reach 5.1 million lats (7.3 million euros). According to preliminary sales results for 10 months of 2011, during this 10 months period AS “Olainfarm” has by nearly 2% outperformed its sales forecast for entire 2011.

AS Olainfarm is one of the biggest pharmaceutical companies in Latvia with nearly 40 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company#ins_quot2#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 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.    



Information prepared by:

Salvis Lapins

Member of the Board

AS Olainfarm

Cell: +371 26448873

e-mail: Salvis.Lapins@olainfarm.lv

“Olainfarm” increases its sales and profit forecast

16/11/2011

Management Board of AS “Olainfarm” today decided to raise the profit and sales forecast of the company for 2011. Revised budget and operating plan of AS “Olainfarm” for 2011 provides that the company will have sales worth 35 million lats (49.8 million euros) and will make the net profit of 6.3 million lats (8.96 million euros). Sales forecast has been increased by about 19%, while the profit forecast was increased by 24%. This revised forecast has been prepared basing upon unconsolidated figures of AS “Olainfarm” and does not include any impact that will be left by pharmacies that will be purchased before the end of the year.



Previous version of budget and operating plan of AS “Olainfarm” for 2011 provided that sales of the company in 2011 will reach 29.4 million lats (41.8 million euros), while the net profit will reach 5.1 million lats (7.3 million euros). According to preliminary sales results for 10 months of 2011, during this 10 months period AS “Olainfarm” has by nearly 2% outperformed its sales forecast for entire 2011.

AS Olainfarm is one of the biggest pharmaceutical companies in Latvia with nearly 40 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company#ins_quot2#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 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.    



Information prepared by:

Salvis Lapins

Member of the Board

AS Olainfarm

Cell: +371 26448873

e-mail: Salvis.Lapins@olainfarm.lv

Sales of “Olainfarm” grow by 47% in October

15/11/2011

Preliminary results of AS “Olainfarm” for October show that the sales have increased by 47% compared to the October of 2010 and have reached 3.21 million lats (4.56 million euros). The most rapid sales increases were experienced in the USA, where sales grew 607 times, the UK, which showed increase in sales of 138 times, Ukraine and Belarus by 51% and Latvia by 30%. The major sales markets of AS “Olainfarm” in October 2011 were Russia, Ukraine, Belarus, The Netherlands, Latvia and the UK. During October 2011 significant shipments were also made to the USA and Switzerland.





























































October 2011


Share in total sales


Changes to October 2010


Russia


37%


14%


Ukraine


19%


51%


Belarus


9%


51%


The Netherlands


8%


NA


Latvia


7%


30%


UK


6%


13654%


Kazakhstan


4%


1%


USA


2%


60607%


Georgia


2%


-3%


Switzerland


1%


NA


Others


5%


-22%


Total


100%


47%




During 10 months of 2011 sales of AS “Olainfarm” reached 29.93 million lats (42.59 million euros), which represents an increase by 42% to the respective period a year ago. The fastest sales increase was seen in Canada, where during ten months of this year sales grew 51 times, sales to The Netherlands grew 18 times, to Ukraine by 143%, to Latvia by 42%, to the UK by 25% and to Uzbekistan by 21%. Major sales markets of AS “Olainfarm” during ten months of 2011 were Russia, Ukraine, Belarus, Latvia and Kazakhstan.





























































10 months of 2011


Share in total sales


Changes to 10 months of 2010


Russia


38%


15%


Ukraine


27%


143%


Belarus


8%


18%


Latvia


6%


42%


Kazakhstan


5%


18%


UK


3%


25%


The Netherlands


2%


1710%


Uzbekistan


2%


21%


Canada


1%


5016%


Georgia


1%


-42%


Others


8%


37%


Total


100%


42%




Budget and operating plan of AS “Olainfarm” for 2011 provides that sales of the company during 2011 will reach 29.4 million lats (41.8 million euros), while the net profit will reach 5.1 million lats (7.3 million euros). According to these preliminary sales results during ten months of this year the company has by nearly 2% exceeded its annual sales forecast, therefore the Management Board of the company plans to increase the sales and profit forecasts for 2011. New sales and profit forecasts will be published on November 16, 2011 after the end of the trading session.

 

AS Olainfarm is one of the biggest pharmaceutical companies in Latvia with nearly 40 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company#ins_quot2#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 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.    



Information prepared by:

Salvis Lapins

Member of the Board

AS Olainfarm

Cell: +371 26448873

e-mail: Salvis.Lapins@olainfarm.lv


Sales of “Olainfarm” grow by 47% in October

15/11/2011

Preliminary results of AS “Olainfarm” for October show that the sales have increased by 47% compared to the October of 2010 and have reached 3.21 million lats (4.56 million euros). The most rapid sales increases were experienced in the USA, where sales grew 607 times, the UK, which showed increase in sales of 138 times, Ukraine and Belarus by 51% and Latvia by 30%. The major sales markets of AS “Olainfarm” in October 2011 were Russia, Ukraine, Belarus, The Netherlands, Latvia and the UK. During October 2011 significant shipments were also made to the USA and Switzerland.





























































October 2011


Share in total sales


Changes to October 2010


Russia


37%


14%


Ukraine


19%


51%


Belarus


9%


51%


The Netherlands


8%


NA


Latvia


7%


30%


UK


6%


13654%


Kazakhstan


4%


1%


USA


2%


60607%


Georgia


2%


-3%


Switzerland


1%


NA


Others


5%


-22%


Total


100%


47%




During 10 months of 2011 sales of AS “Olainfarm” reached 29.93 million lats (42.59 million euros), which represents an increase by 42% to the respective period a year ago. The fastest sales increase was seen in Canada, where during ten months of this year sales grew 51 times, sales to The Netherlands grew 18 times, to Ukraine by 143%, to Latvia by 42%, to the UK by 25% and to Uzbekistan by 21%. Major sales markets of AS “Olainfarm” during ten months of 2011 were Russia, Ukraine, Belarus, Latvia and Kazakhstan.





























































10 months of 2011


Share in total sales


Changes to 10 months of 2010


Russia


38%


15%


Ukraine


27%


143%


Belarus


8%


18%


Latvia


6%


42%


Kazakhstan


5%


18%


UK


3%


25%


The Netherlands


2%


1710%


Uzbekistan


2%


21%


Canada


1%


5016%


Georgia


1%


-42%


Others


8%


37%


Total


100%


42%




Budget and operating plan of AS “Olainfarm” for 2011 provides that sales of the company during 2011 will reach 29.4 million lats (41.8 million euros), while the net profit will reach 5.1 million lats (7.3 million euros). According to these preliminary sales results during ten months of this year the company has by nearly 2% exceeded its annual sales forecast, therefore the Management Board of the company plans to increase the sales and profit forecasts for 2011. New sales and profit forecasts will be published on November 16, 2011 after the end of the trading session.

 

AS Olainfarm is one of the biggest pharmaceutical companies in Latvia with nearly 40 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company#ins_quot2#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 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.    



Information prepared by:

Salvis Lapins

Member of the Board

AS Olainfarm

Cell: +371 26448873

e-mail: Salvis.Lapins@olainfarm.lv


Decisions made by an Extraordinary General Meeting of shareholders of AS Olainfarm: held on November 11, 2011

11/11/2011

Name of securities: Public shares of JSC „Olainfarm”


ISIN code: LV000100501

Paid – in capital: 14 085 078 LVL

Date of the Annual General Meeting: April 29, 2011 at 11:00

Venue: Olaine, Rupnicu iela 5.


1. Elections of the Supervisory Council.

 

To elect the Supervisory Council of AS “Olainfarm” for the period of five years, starting November 11, 2011 consisting of following members: Elena Dudko; Aleksandrs Raicis; Signe Baldere-Sildedze; Volodymyr Kryvozubov; Valentina Andrejeva.


The following number of votes were cast for each candidate:

E.Dudko – 2,948,167 votes, or 27.43% of votes present;

A.Raicis – 1,954,008 votes, or 18.18% of votes present;

S.Baldere-Sildedze – 1,954,838 votes, or 18.19% of votes present;

V.Kryvozubov – 1,953,968 votes, or 18.18% of votes present;

V.Andrejeva – 1,937,635 votes, or 18.02% of votes present.

 

To set the total monthly remuneration for members of the Supervisory Council to be not more than 6000 LVL (8537 EUR).


Voting: the decision was adopted unanimously.



Olaine, November 11, 2011

Information prepared by:

Salvis Lapins

AS Olainfarm

Member of the Board

Rupnicu iela 5, Olaine

Latvia, LV 2114

Tel: +371 6 7013 717

Fax: +371 6 7013 777

e-mail: slapinsh@olainfarm.lv


Decisions made by an Extraordinary General Meeting of shareholders of AS Olainfarm: held on November 11, 2011

11/11/2011

Name of securities: Public shares of JSC „Olainfarm”


ISIN code: LV000100501

Paid – in capital: 14 085 078 LVL

Date of the Annual General Meeting: April 29, 2011 at 11:00

Venue: Olaine, Rupnicu iela 5.


1. Elections of the Supervisory Council.

 

To elect the Supervisory Council of AS “Olainfarm” for the period of five years, starting November 11, 2011 consisting of following members: Elena Dudko; Aleksandrs Raicis; Signe Baldere-Sildedze; Volodymyr Kryvozubov; Valentina Andrejeva.


The following number of votes were cast for each candidate:

E.Dudko – 2,948,167 votes, or 27.43% of votes present;

A.Raicis – 1,954,008 votes, or 18.18% of votes present;

S.Baldere-Sildedze – 1,954,838 votes, or 18.19% of votes present;

V.Kryvozubov – 1,953,968 votes, or 18.18% of votes present;

V.Andrejeva – 1,937,635 votes, or 18.02% of votes present.

 

To set the total monthly remuneration for members of the Supervisory Council to be not more than 6000 LVL (8537 EUR).


Voting: the decision was adopted unanimously.



Olaine, November 11, 2011

Information prepared by:

Salvis Lapins

AS Olainfarm

Member of the Board

Rupnicu iela 5, Olaine

Latvia, LV 2114

Tel: +371 6 7013 717

Fax: +371 6 7013 777

e-mail: slapinsh@olainfarm.lv


“Olainfarm” buys Latvian pharmacy business

02/11/2011

Today during the press conference Chairman of the Management Board of AS “Olainfarm” Mr. Valerijs Maligins announced that AS “Olainfarm” has purchased 100% of shares in SIA “Ilmas aptiekas” and SIA “Juko 99”. These companies combined own 18 points of pharmaceutical sales in Riga, agglomeration of Riga, Vidzeme (north-east) and Kurzeme (west).



“This is just a beginning of Olainfarm’s operations in pharmaceutical retail business in Latvia. Development, production and distribution of top quality medication remain our priority, but experience shows that distribution of medicines in Latvia is particularly successful once you have a direct access to customers. We think that this business is attractive enough to continue investing in it. Our very near future plans include expanding the pharmacy network to 30 points of sales,” said Valerijs Maligins, Chairman of Olainfarm’s Management Board.


AS “Olainfarm” announced its intentions to create a pharmacy chain in May 2010. According to plans of AS “Olainfarm” the sales in 2011 of chains already purchased will be in the area of 4 million lats (5.7 million euro).


As a direct owner of pharmacy chain, AS “Olainfarm” will be able to ensure that its products and products of other producers will be available to customers for more friendly prices. Also, the top level pharmaceutical care will be available to clients, as very many top level professionals are working in the pharmacy chain: 72% of all employees have respective university degree. AS “Olainfarm” does not plan any significant changes either to number of composition of staff.


The first pharmacy was opened by SIA “Ilmas aptieka” in autumn of 1994 in the premises of „Veselibas Centrs 4” on Krisjana Barona iela 115 in Riga. During the last 17 years network of SIA “Ilmas aptieka” has increased to 17 points of sales in Riga, agglomeration of Riga, Vidzeme and Kurzeme. SIA “Juko 99” owns one pharmacy in Riga.

 

AS Olainfarm is one of the biggest pharmaceutical companies in Latvia with nearly 40 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company#ins_quot2#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 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.    



Information prepared by:

Salvis Lapins

Member of the Board

AS Olainfarm

Cell: +371 26448873

e-mail: Salvis.Lapins@olainfarm.lv


“Olainfarm” buys Latvian pharmacy business

02/11/2011

Today during the press conference Chairman of the Management Board of AS “Olainfarm” Mr. Valerijs Maligins announced that AS “Olainfarm” has purchased 100% of shares in SIA “Ilmas aptiekas” and SIA “Juko 99”. These companies combined own 18 points of pharmaceutical sales in Riga, agglomeration of Riga, Vidzeme (north-east) and Kurzeme (west).



“This is just a beginning of Olainfarm’s operations in pharmaceutical retail business in Latvia. Development, production and distribution of top quality medication remain our priority, but experience shows that distribution of medicines in Latvia is particularly successful once you have a direct access to customers. We think that this business is attractive enough to continue investing in it. Our very near future plans include expanding the pharmacy network to 30 points of sales,” said Valerijs Maligins, Chairman of Olainfarm’s Management Board.


AS “Olainfarm” announced its intentions to create a pharmacy chain in May 2010. According to plans of AS “Olainfarm” the sales in 2011 of chains already purchased will be in the area of 4 million lats (5.7 million euro).


As a direct owner of pharmacy chain, AS “Olainfarm” will be able to ensure that its products and products of other producers will be available to customers for more friendly prices. Also, the top level pharmaceutical care will be available to clients, as very many top level professionals are working in the pharmacy chain: 72% of all employees have respective university degree. AS “Olainfarm” does not plan any significant changes either to number of composition of staff.


The first pharmacy was opened by SIA “Ilmas aptieka” in autumn of 1994 in the premises of „Veselibas Centrs 4” on Krisjana Barona iela 115 in Riga. During the last 17 years network of SIA “Ilmas aptieka” has increased to 17 points of sales in Riga, agglomeration of Riga, Vidzeme and Kurzeme. SIA “Juko 99” owns one pharmacy in Riga.

 

AS Olainfarm is one of the biggest pharmaceutical companies in Latvia with nearly 40 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company#ins_quot2#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 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.    



Information prepared by:

Salvis Lapins

Member of the Board

AS Olainfarm

Cell: +371 26448873

e-mail: Salvis.Lapins@olainfarm.lv


In eight months “Olainfarm” plans to increase number of purchased pharmacies to 40

02/11/2011

Today during the press conference Chairman of the Management Board of AS “Olainfarm” Mr. Valerijs Maligins announced that AS “Olainfarm” has purchased 100% of shares in SIA “Ilmas aptiekas” and SIA “Juko 99”. These companies combined own 18 points of pharmaceutical sales in Riga, agglomeration of Riga, Vidzeme (north-east) and Kurzeme (west). With this transaction AS “Olainfarm” has also indirectly become an owner of 50% of shares in pharmaceutical wholesale company SIA “Farm Impeks” owned by SIA „Ilmas Aptiekas”. Total value of the transation remains confidential and will not be disclosed until the first stage of acquisitions is completed.



“This is just a beginning of Olainfarm’s operations in pharmaceutical retail business in Latvia. Development, production and distribution of top quality medication remain our priority, but experience shows that distribution of medicines in Latvia is particularly successful once you have a direct access to customers. We think that this business is attractive enough to continue investing in it. Our very near future plans include expanding the pharmacy network to 30 points of sales, but by the middle of the next year we might be managing about 40 pharmacies” said Valerijs Maligins, Chairman of Olainfarm’s Management Board.


AS “Olainfarm” announced its intentions to create a pharmacy chain in May 2010. According to plans of AS “Olainfarm” the sales in 2011 of chains already purchased will be in the area of 4 million lats (5.7 million euro). In future AS “Olainfarm” may also get involved into e-pharmacy business.


As a direct owner of pharmacy chain, AS “Olainfarm” will be able to ensure that its products and products of other producers will be available to customers for more friendly prices. Also, the top level pharmaceutical care will be available to clients, as very many top level professionals are working in the pharmacy chain: 72% of all employees have respective university degree. AS “Olainfarm” does not plan any significant changes either to number of composition of staff. Mr. Ilmars Pajuste, former co-owner of SIA “Ilmas Aptiekas” will remain as the Chairman of the management board of the pharmacy chain.

The first pharmacy was opened by SIA “Ilmas aptieka” in autumn of 1994 in the premises of „Veselibas Centrs 4” on Krisjana Barona iela 115 in Riga. During the last 17 years network of SIA “Ilmas aptieka” has increased to 17 points of sales in Riga, agglomeration of Riga, Vidzeme and Kurzeme. SIA “Juko 99” owns one pharmacy in Riga.

AS Olainfarm is one of the biggest pharmaceutical companies in Latvia with nearly 40 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company#ins_quot2#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 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.    


Information prepared by:

Salvis Lapins

Member of the Board

AS Olainfarm

Cell: +371 26448873

e-mail: Salvis.Lapins@olainfarm.lv


In eight months “Olainfarm” plans to increase number of purchased pharmacies to 40

02/11/2011

Today during the press conference Chairman of the Management Board of AS “Olainfarm” Mr. Valerijs Maligins announced that AS “Olainfarm” has purchased 100% of shares in SIA “Ilmas aptiekas” and SIA “Juko 99”. These companies combined own 18 points of pharmaceutical sales in Riga, agglomeration of Riga, Vidzeme (north-east) and Kurzeme (west). With this transaction AS “Olainfarm” has also indirectly become an owner of 50% of shares in pharmaceutical wholesale company SIA “Farm Impeks” owned by SIA „Ilmas Aptiekas”. Total value of the transation remains confidential and will not be disclosed until the first stage of acquisitions is completed.



“This is just a beginning of Olainfarm’s operations in pharmaceutical retail business in Latvia. Development, production and distribution of top quality medication remain our priority, but experience shows that distribution of medicines in Latvia is particularly successful once you have a direct access to customers. We think that this business is attractive enough to continue investing in it. Our very near future plans include expanding the pharmacy network to 30 points of sales, but by the middle of the next year we might be managing about 40 pharmacies” said Valerijs Maligins, Chairman of Olainfarm’s Management Board.


AS “Olainfarm” announced its intentions to create a pharmacy chain in May 2010. According to plans of AS “Olainfarm” the sales in 2011 of chains already purchased will be in the area of 4 million lats (5.7 million euro). In future AS “Olainfarm” may also get involved into e-pharmacy business.


As a direct owner of pharmacy chain, AS “Olainfarm” will be able to ensure that its products and products of other producers will be available to customers for more friendly prices. Also, the top level pharmaceutical care will be available to clients, as very many top level professionals are working in the pharmacy chain: 72% of all employees have respective university degree. AS “Olainfarm” does not plan any significant changes either to number of composition of staff. Mr. Ilmars Pajuste, former co-owner of SIA “Ilmas Aptiekas” will remain as the Chairman of the management board of the pharmacy chain.

The first pharmacy was opened by SIA “Ilmas aptieka” in autumn of 1994 in the premises of „Veselibas Centrs 4” on Krisjana Barona iela 115 in Riga. During the last 17 years network of SIA “Ilmas aptieka” has increased to 17 points of sales in Riga, agglomeration of Riga, Vidzeme and Kurzeme. SIA “Juko 99” owns one pharmacy in Riga.

AS Olainfarm is one of the biggest pharmaceutical companies in Latvia with nearly 40 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company#ins_quot2#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 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.    


Information prepared by:

Salvis Lapins

Member of the Board

AS Olainfarm

Cell: +371 26448873

e-mail: Salvis.Lapins@olainfarm.lv


Announcement about draft decisions of the extraordinary shareholders meeting

27/10/2011

Name of the securities: JSC „Olainfarm” publicly traded shares


ISIN code: LV000100501

Paid in capital: 14 085 078 LVL

Date of the extraordinary shareholders meeting:November 11th, 2011, at 11:00a.m.

Place of the meeting: Rupnicu iela 5, Olaine, Latvia.


Draft decisions of the Extraordinatry shareholders meeting of JSC „Olainfarm” to be held on November 11th, 2011:



1. Elections of the Supervisory Council


Draft decision:

1.1. Elect the Supervisory Council of JSC “Olainfarm” consisting of the following members for the five year term, setting that this terms commences at November 11th, 2011:


Name, surname, personal details:

1. Elena Dudko, Date of birth ___________________,

2. Aleksandrs Raicis, personal code ­______________ ____________,

3. Signe Baldere-Sildedze, Date of birth ___________________,

4. Volodymyr Kryvozubov, Date of birth ___________________,

5. Valentina Andrejeva, personal code ­______________ ____________.


1.2. To set the total monthly remuneration of all the Supervisory Council in the amount not exceeding Ls 6000,00.



Olaine, October 27th, 2011.


Information prepared by:

Salvis Lapins

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

Announcement about draft decisions of the extraordinary shareholders meeting

27/10/2011

Name of the securities: JSC „Olainfarm” publicly traded shares


ISIN code: LV000100501

Paid in capital: 14 085 078 LVL

Date of the extraordinary shareholders meeting:November 11th, 2011, at 11:00a.m.

Place of the meeting: Rupnicu iela 5, Olaine, Latvia.


Draft decisions of the Extraordinatry shareholders meeting of JSC „Olainfarm” to be held on November 11th, 2011:



1. Elections of the Supervisory Council


Draft decision:

1.1. Elect the Supervisory Council of JSC “Olainfarm” consisting of the following members for the five year term, setting that this terms commences at November 11th, 2011:


Name, surname, personal details:

1. Elena Dudko, Date of birth ___________________,

2. Aleksandrs Raicis, personal code ­______________ ____________,

3. Signe Baldere-Sildedze, Date of birth ___________________,

4. Volodymyr Kryvozubov, Date of birth ___________________,

5. Valentina Andrejeva, personal code ­______________ ____________.


1.2. To set the total monthly remuneration of all the Supervisory Council in the amount not exceeding Ls 6000,00.



Olaine, October 27th, 2011.


Information prepared by:

Salvis Lapins

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

“Olainfarm” doubles sales in September

13/10/2011

Preliminary sales results of AS “Olainfarm” for September 2011 show that sales have increased by 102% compared to the same period last year and have reached 3.71 million lats (5.28 million euro). The most rapid sales increase has been experienced in Canada, where sales have increased 442 times, in Ukraine they increased nearly 4 times, in Belarus, a country heavily hit by its currency crisis, the sales have grown by 71%, in Russia by 63%. Main sale markets of AS “Olainfarm” during September 2011 were Ukraine, Russia, Belarus and Latvia.





























































September 2011


% of total sales


Changes to September 2010


Ukraine


43%


293%


Russia


27%


63%


Belarus


9%


71%


Latvia


6%


19%


Georgia


3%


-20%


Kazakhstan


3%


-15%


The Netherlands


2%


NA


India


2%


NA


Canada


2%


44156%


USA


1%


NA


Other


2%


-53%


Total


100%


102%




During nine months of 2011, according to preliminary results, the sales of AS “Olainfarm” were 26.72 million lats (38.02 million euro), which represents an increase by 42% compared to the same period of 2010 and is already by nearly 7% more than sales made during the entire year of 2010. During 2010 sales of “Olainfarm” were 25.02 million lats (35.61 million euro). During 9 months of 2011 the biggest sales increases were achieved in Canada, where sales have grown 51 times, the Netherlands – 11 times, in Ukraine, where sales grew by 156%, in Latvia by 43%, in Kazakhstan and Uzbekistan by 21%, Lithuania by 20%. 15% sales increase has also been achieved in Russia and Belarus. Main sales markets of AS “Olainfarm” during nine months of 2011 were Russia, Ukraine, Belarus, Latvia and Kazakhstan.




























































9 months of 2011


% of total sales


Changes to 9 months of 2010


Russia


38%


15%


Ukraine


28%


156%


Belarus


8%


15%


Latvia


6%


43%


Kazakhstan


5%


21%


UK


3%


0%


Uzbekistan


2%


21%


The Netherlands


2%


999%


Canada


1%


5016%


Lithuania


1%


20%


Other


7%


15%


Total


100%


42%



Operating plan and budget of AS “Olainfarm” for 2011 provides that company plans the sales of 29.4 million lats (41.8 million Euro) and the net profit of 5.1 million lats (7.3 million Euro). According to preliminary sales figures published herein, in 9 months of 2011 the company has made 91% of sales planned for the entire 2011


AS Olainfarm is one of the biggest pharmaceutical companies in Latvia with nearly 40 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company#ins_quot2#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 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.    



Information prepared by:

Salvis Lapins
Member of the Board
A/s „Olainfarm”
Tel: +371 6 7013 717
Cell: +371 2 6448 873
E-mail: Salvis.Lapins@olainfarm

“Olainfarm” doubles sales in September

13/10/2011

Preliminary sales results of AS “Olainfarm” for September 2011 show that sales have increased by 102% compared to the same period last year and have reached 3.71 million lats (5.28 million euro). The most rapid sales increase has been experienced in Canada, where sales have increased 442 times, in Ukraine they increased nearly 4 times, in Belarus, a country heavily hit by its currency crisis, the sales have grown by 71%, in Russia by 63%. Main sale markets of AS “Olainfarm” during September 2011 were Ukraine, Russia, Belarus and Latvia.





























































September 2011


% of total sales


Changes to September 2010


Ukraine


43%


293%


Russia


27%


63%


Belarus


9%


71%


Latvia


6%


19%


Georgia


3%


-20%


Kazakhstan


3%


-15%


The Netherlands


2%


NA


India


2%


NA


Canada


2%


44156%


USA


1%


NA


Other


2%


-53%


Total


100%


102%




During nine months of 2011, according to preliminary results, the sales of AS “Olainfarm” were 26.72 million lats (38.02 million euro), which represents an increase by 42% compared to the same period of 2010 and is already by nearly 7% more than sales made during the entire year of 2010. During 2010 sales of “Olainfarm” were 25.02 million lats (35.61 million euro). During 9 months of 2011 the biggest sales increases were achieved in Canada, where sales have grown 51 times, the Netherlands – 11 times, in Ukraine, where sales grew by 156%, in Latvia by 43%, in Kazakhstan and Uzbekistan by 21%, Lithuania by 20%. 15% sales increase has also been achieved in Russia and Belarus. Main sales markets of AS “Olainfarm” during nine months of 2011 were Russia, Ukraine, Belarus, Latvia and Kazakhstan.




























































9 months of 2011


% of total sales


Changes to 9 months of 2010


Russia


38%


15%


Ukraine


28%


156%


Belarus


8%


15%


Latvia


6%


43%


Kazakhstan


5%


21%


UK


3%


0%


Uzbekistan


2%


21%


The Netherlands


2%


999%


Canada


1%


5016%


Lithuania


1%


20%


Other


7%


15%


Total


100%


42%



Operating plan and budget of AS “Olainfarm” for 2011 provides that company plans the sales of 29.4 million lats (41.8 million Euro) and the net profit of 5.1 million lats (7.3 million Euro). According to preliminary sales figures published herein, in 9 months of 2011 the company has made 91% of sales planned for the entire 2011


AS Olainfarm is one of the biggest pharmaceutical companies in Latvia with nearly 40 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company#ins_quot2#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 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.    



Information prepared by:

Salvis Lapins
Member of the Board
A/s „Olainfarm”
Tel: +371 6 7013 717
Cell: +371 2 6448 873
E-mail: Salvis.Lapins@olainfarm

About Notification from Helmuts Balderis – Sildedzis, Chairman of the Supervisory Council

07/10/2011

JSC „Olainfarm” hereby informs that on October  6th, 2011 it has received a


notification from Helmuts Balderis – Sildedzis, Chairman of the Supervisory Council, about his resignation from the position of the member of Supervisoy Council by November 11, 2011.

 

Information prepared by

Salvis Lapins

JSC “Olainfarm”

Member of the Board

tel. +371 6 7013717, + 371 2 6448873

fax. + 371 6 7013777

slapinsh@olainfarm.lv

About Notification from Helmuts Balderis – Sildedzis, Chairman of the Supervisory Council

07/10/2011

JSC „Olainfarm” hereby informs that on October  6th, 2011 it has received a


notification from Helmuts Balderis – Sildedzis, Chairman of the Supervisory Council, about his resignation from the position of the member of Supervisoy Council by November 11, 2011.

 

Information prepared by

Salvis Lapins

JSC “Olainfarm”

Member of the Board

tel. +371 6 7013717, + 371 2 6448873

fax. + 371 6 7013777

slapinsh@olainfarm.lv

Olainfarm’s sales in August reach 2.35 million lats

15/09/2011

Preliminary sales figures of AS “Olainfarm” for August 2011 show that sales during this period were 2,35 million lats (3.34 million euro), which represents a decrease by 14% compared to similar period a year ago. Sales to Kazakhstan have increased 18 times, to Ukraine by 130%, to Lithuania by 43% and in Latvia by 24%. Sales have fallen to Uzbekistan, Russia and Belarus, where during the August of the last year, particularly big shipments were made. Major sales markets of AS “Olainfarm” in August 2011 were Russia, Ukraine, Latvia and Kazakhstan.







































































% of total sales

Changes to August 2010

Russia

38%

-48%

Ukraine

29%

130%

Latvia

9%

24%

Kazakhstan

7%

1738%

Uzbekistan

4%

-60%

Italy

4%

NA

Belarus

3%

-41%

Canada

2%

NA

Lithuania

1%

43%

Moldova

1%

-4%

Other

2%

-51%

Total

100%

-14%



During eight months of 2011, according to preliminary results, sales of AS “Olainfarm” have reached 23.01 million lats (32.74 million euros) – which is an increase by 35% compared to similar period a year ago. The most significant sales increases were achieved in Canada, where sales grew 43 times, The Netherlands, 9 times, Ukraine by 134%, Latvia by 48%, Lithuania by 37%, Kazakhstan by 26% and Uzbekistan where sales increased by 23%. The major sales markets of AS “Olainfarm” during eight months of 2011 were Russia, Ukraine, Belarus, Latvia and Kazakhstan.

























































% of total sales

Increase to 8 months of 2010

Russia

39%

11%

Ukraine

25%

134%

Belarus

8%

8%

Latvia

6%

48%

Kazakhstan

5%

26%

UK

3%

0%

Uzbekistan

2%

23%

The Netherlands

1%

807%

Lithuania

1%

37%

Canada

1%

4216%

Other

7%

15%

Total

100%

35%



Operating plan and budget of AS “Olainfarm” for 2011 provides that company plans the sales of 29.4 million lats (41.8 million Euro) and the net profit of 5.1 million lats (7.3 million Euro). According to preliminary sales figures published herein, in 8 months of 2011 the company has made 78.2% of sales planned for the entire 2011


A/s Olainfarm is one of the biggest pharmaceutical companies in Latvia with nearly 40 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company#ins_quot2#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 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.


Information prepared by:

Salvis Lapins

Member of the Board

A/s „Olainfarm”

Tel: +371 6 7013 717

Cell: +371 2 6448 873

E-mail: slapinsh@olainfarm


Olainfarm’s sales in August reach 2.35 million lats

15/09/2011

Preliminary sales figures of AS “Olainfarm” for August 2011 show that sales during this period were 2,35 million lats (3.34 million euro), which represents a decrease by 14% compared to similar period a year ago. Sales to Kazakhstan have increased 18 times, to Ukraine by 130%, to Lithuania by 43% and in Latvia by 24%. Sales have fallen to Uzbekistan, Russia and Belarus, where during the August of the last year, particularly big shipments were made. Major sales markets of AS “Olainfarm” in August 2011 were Russia, Ukraine, Latvia and Kazakhstan.







































































% of total sales

Changes to August 2010

Russia

38%

-48%

Ukraine

29%

130%

Latvia

9%

24%

Kazakhstan

7%

1738%

Uzbekistan

4%

-60%

Italy

4%

NA

Belarus

3%

-41%

Canada

2%

NA

Lithuania

1%

43%

Moldova

1%

-4%

Other

2%

-51%

Total

100%

-14%



During eight months of 2011, according to preliminary results, sales of AS “Olainfarm” have reached 23.01 million lats (32.74 million euros) – which is an increase by 35% compared to similar period a year ago. The most significant sales increases were achieved in Canada, where sales grew 43 times, The Netherlands, 9 times, Ukraine by 134%, Latvia by 48%, Lithuania by 37%, Kazakhstan by 26% and Uzbekistan where sales increased by 23%. The major sales markets of AS “Olainfarm” during eight months of 2011 were Russia, Ukraine, Belarus, Latvia and Kazakhstan.

























































% of total sales

Increase to 8 months of 2010

Russia

39%

11%

Ukraine

25%

134%

Belarus

8%

8%

Latvia

6%

48%

Kazakhstan

5%

26%

UK

3%

0%

Uzbekistan

2%

23%

The Netherlands

1%

807%

Lithuania

1%

37%

Canada

1%

4216%

Other

7%

15%

Total

100%

35%



Operating plan and budget of AS “Olainfarm” for 2011 provides that company plans the sales of 29.4 million lats (41.8 million Euro) and the net profit of 5.1 million lats (7.3 million Euro). According to preliminary sales figures published herein, in 8 months of 2011 the company has made 78.2% of sales planned for the entire 2011


A/s Olainfarm is one of the biggest pharmaceutical companies in Latvia with nearly 40 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company#ins_quot2#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 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.


Information prepared by:

Salvis Lapins

Member of the Board

A/s „Olainfarm”

Tel: +371 6 7013 717

Cell: +371 2 6448 873

E-mail: slapinsh@olainfarm


„Olainfarm” wins in „MIDOLAT/МИДОЛАТ” dispute

19/08/2011

District court of Riga today rejected the claim by AS “Grindeks” whereby the nullification of the registration of trade mark „MIDOLAT/МИДОЛАТ” was asked. Therefore AS „Olainfarm” is now free to use the name „MIDOLAT/МИДОЛАТ” in Latvia.



On July 20, 2010, „Grindeks” submitted a claim to court asking to nullify the registration of trade mark MIDOLAT/МИДОЛАТ (in Cyrillic), to discontinue and forbid the use of the textual designations MIDOLAT/МИДОЛАТ by „Olainfarm”, to fully recall from distribution and to destroy all medicines market with textual designations MIDOLAT/МИДОЛАТ. „Olainfarm” was accused of acting in an illegal manner to crease associations with trademarks owned by „Grindeks”. On March 14, an additional claim was submitted to court asking “Olainfarm” to compensate for the damages.


On August 19 2011, a District court of Riga ruled that all these claims are unfounded and rejected them. Latvia is now the second country where this desperate attempt made by “Grindeks” to block the launch of meldonium produced by “Olainfarm” has failed. Although in the interests of “Grindeks” it managed to delay the launch a little, the main party suffering were the patients. In the near future similar claims by “Grindex” against “Rospatent” are scheduled in Moscow.


During the court trial „Olainfarm” submitted the counterclaim about nullification of registration of trademark “Mildronāts”. Counterclaim of “Olainfarm” is founded on the fact that a word “mildronāts” has been historically used and is still being used in an everyday communication as the name for particular medicine and therefore cannot be registered as the trade mark. Although Olainfarm’s counter claim was rejected for the lack of evidence, Olainfarm regards its position as strong enough to appeal against this ruling of District court of Riga to Supreme Court.


It was not Olainfarm’s choice to start the legal procedure and during the entire process we made a number of attempts to prevent this conflict from further escalation, we have expressed our willingness to negotiate and solve the dispute out of court.


„I am very satisfied with this just ruling. Olainfarm has always been acting fairly and honestly respecting ourselves, our partners and competitors. We see the development of new and effective products as our main priority, therefore despite favourable verdict and good prospects for further appeals, we would prefer solving similar situations without unnecessary waste of time in courts,” said V. Maligins, Chairman of Olainfarm’s Management Board.

A/s Olainfarm is one of the biggest pharmaceutical companies in Latvia with nearly 40 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company#ins_quot2#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 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.  

 

         Information prepared by:
         Salvis Lapins
         Member of the Board
         A/s „Olainfarm”
         Tel: +371 6 7013 717
         Cell: +371 2 6448 873
         E-mail: slapinsh@olainfarm

„Olainfarm” wins in „MIDOLAT/МИДОЛАТ” dispute

19/08/2011

District court of Riga today rejected the claim by AS “Grindeks” whereby the nullification of the registration of trade mark „MIDOLAT/МИДОЛАТ” was asked. Therefore AS „Olainfarm” is now free to use the name „MIDOLAT/МИДОЛАТ” in Latvia.



On July 20, 2010, „Grindeks” submitted a claim to court asking to nullify the registration of trade mark MIDOLAT/МИДОЛАТ (in Cyrillic), to discontinue and forbid the use of the textual designations MIDOLAT/МИДОЛАТ by „Olainfarm”, to fully recall from distribution and to destroy all medicines market with textual designations MIDOLAT/МИДОЛАТ. „Olainfarm” was accused of acting in an illegal manner to crease associations with trademarks owned by „Grindeks”. On March 14, an additional claim was submitted to court asking “Olainfarm” to compensate for the damages.


On August 19 2011, a District court of Riga ruled that all these claims are unfounded and rejected them. Latvia is now the second country where this desperate attempt made by “Grindeks” to block the launch of meldonium produced by “Olainfarm” has failed. Although in the interests of “Grindeks” it managed to delay the launch a little, the main party suffering were the patients. In the near future similar claims by “Grindex” against “Rospatent” are scheduled in Moscow.


During the court trial „Olainfarm” submitted the counterclaim about nullification of registration of trademark “Mildronвts”. Counterclaim of “Olainfarm” is founded on the fact that a word “mildronвts” has been historically used and is still being used in an everyday communication as the name for particular medicine and therefore cannot be registered as the trade mark. Although Olainfarm’s counter claim was rejected for the lack of evidence, Olainfarm regards its position as strong enough to appeal against this ruling of District court of Riga to Supreme Court.


It was not Olainfarm’s choice to start the legal procedure and during the entire process we made a number of attempts to prevent this conflict from further escalation, we have expressed our willingness to negotiate and solve the dispute out of court.


„I am very satisfied with this just ruling. Olainfarm has always been acting fairly and honestly respecting ourselves, our partners and competitors. We see the development of new and effective products as our main priority, therefore despite favourable verdict and good prospects for further appeals, we would prefer solving similar situations without unnecessary waste of time in courts,” said V. Maligins, Chairman of Olainfarm’s Management Board.

A/s Olainfarm is one of the biggest pharmaceutical companies in Latvia with nearly 40 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company#ins_quot2#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 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.  

 

         Information prepared by:
         Salvis Lapins
         Member of the Board
         A/s „Olainfarm”
         Tel: +371 6 7013 717
         Cell: +371 2 6448 873
         E-mail: slapinsh@olainfarm

Sales of “Olainfarm” grow by 54% in July

15/08/2011

Preliminary sales figures of AS “Olainfarm” for July 2011 show that the sales of the company have increased by 54% compared to similar period a year earlier and have reached 2.7 million lats (3.8 million euros). Most rapid increases in sales were experienced in Ukraine, where the sales of July 2011 exceeds that of July 2010 4 times , sales to Moldova have increased by 146%, to Latvia by 92%, Russia by 75%. In July this year the company has started sales to Albania. Major sales markets of AS “Olainfarm” in July 2011 were Russia, Ukraine, Belarus and Latvia.

































































Market


% of total sales


Changes to July 2010


Russia


43,7%


74,9%


Ukraine


36,6%


300,0%


Belarus


7,2%


-3,1%


Latvia


5,2%


91,7%


Lithuania


1,9%


NA


Kazakhstan


1,4%


-54,3%


Moldova


1,1%


145,5%


Albania


0,9%


NA


Italy


0,7%


NA


Azerbaijan


0,5%


-15,8%


Other


0,9%


-94,7%








Total


100,0%


53,5%




During seven months of 2011 the preliminary sales of AS “Olainfarm” were 20.7 million lats (29.5 million euros) which represents an increase by 45% compared to the similar period last year. The most rapid growth was experienced in Canada, where sales grew by 36 times, The Netherlands by 9 times, Uzbekistan and Ukraine by 134%, Moldova by 85% and Latvia by 53%. Major sales markets of AS “Olainfarm” during 7 months were Russia , Ukraine, Belarus, Latvia, Kazakhstan and the UK.
































































Market


% of total sales


Change to 7 months of 2010


Russia


39%


28%


Ukraine


25%


134%


Belarus


8%


12%


Latvia


6%


53%


Kazakhstan


5%


8%


UK


4%


0%


Uzbekistan


2%


134%


The Netherlands


2%


807%


Moldova


1%


85%


Canada


1%


3529%


Other


7%


11%








Total


100%


45%



Operating plan and budget of AS “Olainfarm” for 2011 provides that company plans the sales of 29.4 million lats (41.8 million Euro) and the net profit of 5.1 million lats (7.3 million Euro). According to preliminary sales figures published herein, in 7 months of 2011 the company has made 70% of sales planned for the entire 2011

 

A/s Olainfarm is one of the biggest pharmaceutical companies in Latvia with nearly 40 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company#ins_quot2#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 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.  

         Information prepared by:
         Salvis Lapins
         Member of the Board
         A/s „Olainfarm”
         Tel: +371 6 7013 717
         Cell: +371 2 6448 873
         E-mail: slapinsh@olainfarm

Sales of “Olainfarm” grow by 54% in July

15/08/2011

Preliminary sales figures of AS “Olainfarm” for July 2011 show that the sales of the company have increased by 54% compared to similar period a year earlier and have reached 2.7 million lats (3.8 million euros). Most rapid increases in sales were experienced in Ukraine, where the sales of July 2011 exceeds that of July 2010 4 times , sales to Moldova have increased by 146%, to Latvia by 92%, Russia by 75%. In July this year the company has started sales to Albania. Major sales markets of AS “Olainfarm” in July 2011 were Russia, Ukraine, Belarus and Latvia.

































































Market


% of total sales


Changes to July 2010


Russia


43,7%


74,9%


Ukraine


36,6%


300,0%


Belarus


7,2%


-3,1%


Latvia


5,2%


91,7%


Lithuania


1,9%


NA


Kazakhstan


1,4%


-54,3%


Moldova


1,1%


145,5%


Albania


0,9%


NA


Italy


0,7%


NA


Azerbaijan


0,5%


-15,8%


Other


0,9%


-94,7%








Total


100,0%


53,5%




During seven months of 2011 the preliminary sales of AS “Olainfarm” were 20.7 million lats (29.5 million euros) which represents an increase by 45% compared to the similar period last year. The most rapid growth was experienced in Canada, where sales grew by 36 times, The Netherlands by 9 times, Uzbekistan and Ukraine by 134%, Moldova by 85% and Latvia by 53%. Major sales markets of AS “Olainfarm” during 7 months were Russia , Ukraine, Belarus, Latvia, Kazakhstan and the UK.
































































Market


% of total sales


Change to 7 months of 2010


Russia


39%


28%


Ukraine


25%


134%


Belarus


8%


12%


Latvia


6%


53%


Kazakhstan


5%


8%


UK


4%


0%


Uzbekistan


2%


134%


The Netherlands


2%


807%


Moldova


1%


85%


Canada


1%


3529%


Other


7%


11%








Total


100%


45%



Operating plan and budget of AS “Olainfarm” for 2011 provides that company plans the sales of 29.4 million lats (41.8 million Euro) and the net profit of 5.1 million lats (7.3 million Euro). According to preliminary sales figures published herein, in 7 months of 2011 the company has made 70% of sales planned for the entire 2011

 

A/s Olainfarm is one of the biggest pharmaceutical companies in Latvia with nearly 40 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company#ins_quot2#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 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.  

         Information prepared by:
         Salvis Lapins
         Member of the Board
         A/s „Olainfarm”
         Tel: +371 6 7013 717
         Cell: +371 2 6448 873
         E-mail: slapinsh@olainfarm

CORRECTED: Sales of “Olainfarm” grow by 27% in June

14/07/2011

Preliminary sales figures of AS “Olainfarm” for June 2011 show that sales of the company in June have increased by 27%, compared to this period last year and totalled 3.15 million lats (4.48 million euros). The most rapid sales growth has been experienced in Spain, where sales grew 111 times, in Uzbekistan, where sales grew by 233% and in Russia where sales in up by 98%. The major sales markets of AS “Olainfarm” in June 2011 were Russia, Ukraine, The Netherlands, Kazakhstan and Latvia.


 

Olaine, July 14, 2011, 2011-07-14 13:21 CEST (GLOBE NEWSWIRE) —  

 


























































June 2011 % of total sales % change to June 2010
Russia 49% 98%
Ukraine 14% 19%
The Netherlands 9% NA
Kazakhstan 7% -29%
Latvia 6% 5%
Belarus 4% -60%
Uzbekistan 3% 233%
Georgia 2% -73%
Switzerland 1% NA
Spain 1% 11100%
Other 3% -57%
     
Total 100% 27%

 

Preliminary sales of AS “Olainfarm” for six months of 2011 are 17.97 million lats (25.57 million euros), which represents an increase by 43% compared to first six months of 2010. During the first six months of this year the biggest growth was seen in Canada, where sales have increased 36 fold, The Netherlands, where sales have grown 9 times, Uzbekistan by 134%, Ukraine by 118%, UK by 100% and Latvia by 49. The main sales markets of AS “Olainfarm” during first six months of 2011 are Russia, Ukraine, Belarus, Latvia, Kazakhstan and the UK.

 

 


























































6 months of 2011 % of total sales % change to six months of 2010
Russia 39% 22%
Ukraine 23% 118%
Belarus 9% 14%
Latvia 6% 49%
Kazakhstan 5% 14%
UK 4% 100%
Uzbekistan 2% 134%
The Netherlands 2% 807%
Canada 1% 3529%
Lithuania 1% 10%
Other 8% 15%
     
Total 100% 43%

 

 

Operating plan and budget of AS “Olainfarm” for 2011 provides that company plans the sales of 29.4 million lats (41.8 million euros) and the net profit of 5.1 million lats (7.3 million Euro). According to these preliminary figures 61% of sales planned for the entire year were made during the first six months of 2011.

 

Few shipments made to Ukraine were mistakenly not included in the 6 months sales summary published earlier and that influenced the total sales figures for 6 months, overall sales increase figures, sales increase to Ukraine, Ukraine’s share in total sales and the percentage by which the annual target sales are met.

 

The Company apologises for any inconveniences.

 

 

A/s Olainfarm is one of the biggest pharmaceutical companies in Latvia with nearly 40 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company#ins_quot2#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 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.     

         Information prepared by:
         Salvis Lapins
         Member of the Board
         A/s „Olainfarm”
         Tel: +371 6 7013 717
         Cell: +371 2 6448 873
         E-mail: slapinsh@olainfarm.lv

CORRECTED: Sales of “Olainfarm” grow by 27% in June

14/07/2011

Preliminary sales figures of AS “Olainfarm” for June 2011 show that sales of the company in June have increased by 27%, compared to this period last year and totalled 3.15 million lats (4.48 million euros). The most rapid sales growth has been experienced in Spain, where sales grew 111 times, in Uzbekistan, where sales grew by 233% and in Russia where sales in up by 98%. The major sales markets of AS “Olainfarm” in June 2011 were Russia, Ukraine, The Netherlands, Kazakhstan and Latvia.


 

Olaine, July 14, 2011, 2011-07-14 13:21 CEST (GLOBE NEWSWIRE) —  

 


























































June 2011 % of total sales % change to June 2010
Russia 49% 98%
Ukraine 14% 19%
The Netherlands 9% NA
Kazakhstan 7% -29%
Latvia 6% 5%
Belarus 4% -60%
Uzbekistan 3% 233%
Georgia 2% -73%
Switzerland 1% NA
Spain 1% 11100%
Other 3% -57%
     
Total 100% 27%

 

Preliminary sales of AS “Olainfarm” for six months of 2011 are 17.97 million lats (25.57 million euros), which represents an increase by 43% compared to first six months of 2010. During the first six months of this year the biggest growth was seen in Canada, where sales have increased 36 fold, The Netherlands, where sales have grown 9 times, Uzbekistan by 134%, Ukraine by 118%, UK by 100% and Latvia by 49. The main sales markets of AS “Olainfarm” during first six months of 2011 are Russia, Ukraine, Belarus, Latvia, Kazakhstan and the UK.

 

 


























































6 months of 2011 % of total sales % change to six months of 2010
Russia 39% 22%
Ukraine 23% 118%
Belarus 9% 14%
Latvia 6% 49%
Kazakhstan 5% 14%
UK 4% 100%
Uzbekistan 2% 134%
The Netherlands 2% 807%
Canada 1% 3529%
Lithuania 1% 10%
Other 8% 15%
     
Total 100% 43%

 

 

Operating plan and budget of AS “Olainfarm” for 2011 provides that company plans the sales of 29.4 million lats (41.8 million euros) and the net profit of 5.1 million lats (7.3 million Euro). According to these preliminary figures 61% of sales planned for the entire year were made during the first six months of 2011.

 

Few shipments made to Ukraine were mistakenly not included in the 6 months sales summary published earlier and that influenced the total sales figures for 6 months, overall sales increase figures, sales increase to Ukraine, Ukraine’s share in total sales and the percentage by which the annual target sales are met.

 

The Company apologises for any inconveniences.

 

 

A/s Olainfarm is one of the biggest pharmaceutical companies in Latvia with nearly 40 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company#ins_quot2#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 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.     

         Information prepared by:
         Salvis Lapins
         Member of the Board
         A/s „Olainfarm”
         Tel: +371 6 7013 717
         Cell: +371 2 6448 873
         E-mail: slapinsh@olainfarm.lv

Sales of “Olainfarm” grow by 27% in June

13/07/2011

Preliminary sales figures of AS “Olainfarm” for June 2011 show that sales of the company in June have increased by 27%, compared to this period last year and totalled 3.15 million lats (4.48 million euros). The most rapid sales growth has been experienced in Spain, where sales grew 111 times, in Uzbekistan, where sales grew by 233% and in Russia where sales in up by 98%. The major sales markets of AS “Olainfarm” in June 2011 were Russia, Ukraine, The Netherlands, Kazakhstan and Latvia.


 

Olaine, 2011-07-13 15:05 CEST (GLOBE NEWSWIRE) —  

 


























































June 2011 % of total sales % change to June 2010
Russia 49% 98%
Ukraine 14% 19%
The Netherlands 9% NA
Kazakhstan 7% -29%
Latvia 6% 5%
Belarus 4% -60%
Uzbekistan 3% 233%
Georgia 2% -73%
Switzerland 1% NA
Spain 1% 11100%
Other 3% -57%
     
Total 100% 27%

 

Preliminary sales of AS “Olainfarm” for six months of 2011 are 16.42 million lats (23.36 million euros), which represents an increase by 31% compared to first six months of 2010. During the first six months of this year the biggest growth was seen in Canada, where sales have increased 35 fold, The Netherlands, where sales have grown 8 times, Uzbekistan by 134%, UK by 100% and Latvia by 49.  The main sales markets of AS “Olainfarm” during first six months of 2011 are Russia, Ukraine, Belarus, Latvia, Kazakhstan and the UK.

 

 


























































6 months of 2011 % of total sales % change to six months of 2010
Russia 42% 22%
Ukraine 16% 32%
Belarus 9% 14%
Latvia 7% 49%
Kazakhstan 6% 14%
UK 5% 100%
Uzbekistan 2% 134%
The Netherlands 2% 807%
Canada 1% 3529%
Lithuania 1% 10%
Other 9% 15%
     
Total 100% 31%

 

 

Operating plan and budget of AS “Olainfarm” for 2011 provides that company plans the sales of 29.4 million lats (41.8 million euros) and the net profit of 5.1 million lats (7.3 million Euro). According to these preliminary figures 56% of sales planned for the entire year were made during the first six months of 2011.

 

A/s Olainfarm is one of the biggest pharmaceutical companies in Latvia with nearly 40 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company#ins_quot2#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 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.     

         Information prepared by:
         Salvis Lapins
         Member of the Board
         A/s „Olainfarm”
         Tel: +371 6 7013 717
         Cell: +371 2 6448 873
         E-mail: slapinsh@olainfarm.lv

Sales of “Olainfarm” grow by 27% in June

13/07/2011

Preliminary sales figures of AS “Olainfarm” for June 2011 show that sales of the company in June have increased by 27%, compared to this period last year and totalled 3.15 million lats (4.48 million euros). The most rapid sales growth has been experienced in Spain, where sales grew 111 times, in Uzbekistan, where sales grew by 233% and in Russia where sales in up by 98%. The major sales markets of AS “Olainfarm” in June 2011 were Russia, Ukraine, The Netherlands, Kazakhstan and Latvia.


 

Olaine, 2011-07-13 15:05 CEST (GLOBE NEWSWIRE) —  

 


























































June 2011 % of total sales % change to June 2010
Russia 49% 98%
Ukraine 14% 19%
The Netherlands 9% NA
Kazakhstan 7% -29%
Latvia 6% 5%
Belarus 4% -60%
Uzbekistan 3% 233%
Georgia 2% -73%
Switzerland 1% NA
Spain 1% 11100%
Other 3% -57%
     
Total 100% 27%

 

Preliminary sales of AS “Olainfarm” for six months of 2011 are 16.42 million lats (23.36 million euros), which represents an increase by 31% compared to first six months of 2010. During the first six months of this year the biggest growth was seen in Canada, where sales have increased 35 fold, The Netherlands, where sales have grown 8 times, Uzbekistan by 134%, UK by 100% and Latvia by 49.  The main sales markets of AS “Olainfarm” during first six months of 2011 are Russia, Ukraine, Belarus, Latvia, Kazakhstan and the UK.

 

 


























































6 months of 2011 % of total sales % change to six months of 2010
Russia 42% 22%
Ukraine 16% 32%
Belarus 9% 14%
Latvia 7% 49%
Kazakhstan 6% 14%
UK 5% 100%
Uzbekistan 2% 134%
The Netherlands 2% 807%
Canada 1% 3529%
Lithuania 1% 10%
Other 9% 15%
     
Total 100% 31%

 

 

Operating plan and budget of AS “Olainfarm” for 2011 provides that company plans the sales of 29.4 million lats (41.8 million euros) and the net profit of 5.1 million lats (7.3 million Euro). According to these preliminary figures 56% of sales planned for the entire year were made during the first six months of 2011.

 

A/s Olainfarm is one of the biggest pharmaceutical companies in Latvia with nearly 40 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company#ins_quot2#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 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.     

         Information prepared by:
         Salvis Lapins
         Member of the Board
         A/s „Olainfarm”
         Tel: +371 6 7013 717
         Cell: +371 2 6448 873
         E-mail: slapinsh@olainfarm.lv

“Olainfarm” Sales in May Grew by 52%

15/06/2011

Preliminary sales figures of AS “Olainfarm” for May 2011 show that sales have increased by 52% compared to the same period one year ago and have reached 2.9 million lats (4.13 million euro). The most rapid increase in sales was experienced in Moldova (by 171%), Ukraine (by 168%), Latvia (by 85%) and Georgia where the sales have grown by 58%. The major sales markets of AS “Olainfarm” during May of 2011 were Russia, Ukraine, Latvia, Kazakhstan and Belarus.

































































May, 2011


% of total sales


% change to May 2010


Russia


35%


-4%


Ukraine


35%


168%


Latvia


7%


85%


Kazakhstan


6%


NA


Belarus


5%


-28%


Uzbekistan


4%


NA


Moldova


3%


171%


Taiwan


1%


NA


Georgia


1%


58%


Lithuania


1%


-54%


Other


2%


-11%


 


 


 


Total


100%


52%



During five months of 2001 preliminary sales of AS “Olainfarm” were 14.22 million lats (20.23 million euro), which represents an increase by 41% compared to similar period of 2010. The fastest growth was seen in Canada, where sales grew by more than 30 times, Moldova by 144%, Uzbekistan (by 118%), Ukraine (by 112%) UK (by 100%) and Latvia, where sales grew by 66%. The major sales markets of AS “Olainfarm” during first five months of 2011 were Russia, Ukraine, Belarus, Latvia and the UK.
































































5 months of 2011


% of total sales


% change to 5 months of 2010


Russia


38%


9%


Ukraine


23%


112%


Belarus


10%


39%


Latvia


6%


66%


UK


5%


100%


Kazakhstan


4%


25%


Uzbekistan


2%


118%


Lithuania


1%


41%


Canada


1%


3046%


Moldova


1%


144%


Other


7%


26%


 


 


 


Total


100%


41%


 


Operating plan and budget of AS “Olainfarm” for 2011 provides that company plans the sales of 29.4 million lats (41.8 million Euro) and the net profit of 5.1 million lats (7.3 million Euro).

 

A/s Olainfarm is one of the biggest pharmaceutical companies in Latvia with nearly 40 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company#ins_quot2#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 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.   

         Information prepared by:
         Salvis Lapins
         Member of the Board
         A/s „Olainfarm”
         Tel: +371 6 7013 717
         Cell: +371 2 6448 873
         E-mail: slapinsh@olainfarm

“Olainfarm” Sales in May Grew by 52%

15/06/2011

Preliminary sales figures of AS “Olainfarm” for May 2011 show that sales have increased by 52% compared to the same period one year ago and have reached 2.9 million lats (4.13 million euro). The most rapid increase in sales was experienced in Moldova (by 171%), Ukraine (by 168%), Latvia (by 85%) and Georgia where the sales have grown by 58%. The major sales markets of AS “Olainfarm” during May of 2011 were Russia, Ukraine, Latvia, Kazakhstan and Belarus.

































































May, 2011


% of total sales


% change to May 2010


Russia


35%


-4%


Ukraine


35%


168%


Latvia


7%


85%


Kazakhstan


6%


NA


Belarus


5%


-28%


Uzbekistan


4%


NA


Moldova


3%


171%


Taiwan


1%


NA


Georgia


1%


58%


Lithuania


1%


-54%


Other


2%


-11%


 


 


 


Total


100%


52%



During five months of 2001 preliminary sales of AS “Olainfarm” were 14.22 million lats (20.23 million euro), which represents an increase by 41% compared to similar period of 2010. The fastest growth was seen in Canada, where sales grew by more than 30 times, Moldova by 144%, Uzbekistan (by 118%), Ukraine (by 112%) UK (by 100%) and Latvia, where sales grew by 66%. The major sales markets of AS “Olainfarm” during first five months of 2011 were Russia, Ukraine, Belarus, Latvia and the UK.
































































5 months of 2011


% of total sales


% change to 5 months of 2010


Russia


38%


9%


Ukraine


23%


112%


Belarus


10%


39%


Latvia


6%


66%


UK


5%


100%


Kazakhstan


4%


25%


Uzbekistan


2%


118%


Lithuania


1%


41%


Canada


1%


3046%


Moldova


1%


144%


Other


7%


26%


 


 


 


Total


100%


41%


 


Operating plan and budget of AS “Olainfarm” for 2011 provides that company plans the sales of 29.4 million lats (41.8 million Euro) and the net profit of 5.1 million lats (7.3 million Euro).

 

A/s Olainfarm is one of the biggest pharmaceutical companies in Latvia with nearly 40 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company#ins_quot2#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 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.   

         Information prepared by:
         Salvis Lapins
         Member of the Board
         A/s „Olainfarm”
         Tel: +371 6 7013 717
         Cell: +371 2 6448 873
         E-mail: slapinsh@olainfarm

On Professional Experience of Veranika Dubitskaya

23/05/2011

Veranika Dubitskaya, who was appointed a new member of the Management Board of AS „Olainfarm” has been working at Representative Office of AS „Olainfarm” since 2005.  From 2005 until 2006 she was working there as a Medical Representative, from 2006 until July 2009 she was a Product Manager. From July 2009 until May 2011 she was a Head of Representative Office of AS „Olainfarm” in Belarus.


 

In 2003 Veranika Dubitskaya graduated Belarus State Medical University.

 

Veranika Dubitskaya does not own any shares of AS “Olainfarm”  

 

         Information prepared by:
         Salvis Lapins
         Member of the Board
         A/s „Olainfarm”
         Tel: +371 6 7013 717
         Cell: +371 2 6448 873
         E-mail: slapinsh@olainfarm

On Professional Experience of Veranika Dubitskaya

23/05/2011

Veranika Dubitskaya, who was appointed a new member of the Management Board of AS „Olainfarm” has been working at Representative Office of AS „Olainfarm” since 2005.  From 2005 until 2006 she was working there as a Medical Representative, from 2006 until July 2009 she was a Product Manager. From July 2009 until May 2011 she was a Head of Representative Office of AS „Olainfarm” in Belarus.


 

In 2003 Veranika Dubitskaya graduated Belarus State Medical University.

 

Veranika Dubitskaya does not own any shares of AS “Olainfarm”  

 

         Information prepared by:
         Salvis Lapins
         Member of the Board
         A/s „Olainfarm”
         Tel: +371 6 7013 717
         Cell: +371 2 6448 873
         E-mail: slapinsh@olainfarm

Veranika Dubitskaya becames a Board member of Olainfarm

19/05/2011

On May 17, 2011, Supervisory Council of AS „Olainfarm” decided to appoint Ms. Veranika Dubitskaya to be the new member of the Management Board of AS „Olainfarm”.  In the Management Board Veranika Dubitskaya will replace Mr Jurijs Kaplinovs, who has submitted his resignation on May 12, 2011.


 

         Information prepared by:
         Salvis Lapins
         Member of the Board
         A/s „Olainfarm”
         Tel: +371 6 7013 717
         Cell: +371 2 6448 873
         E-mail: slapinsh@olainfarm

Veranika Dubitskaya becames a Board member of Olainfarm

19/05/2011

On May 17, 2011, Supervisory Council of AS „Olainfarm” decided to appoint Ms. Veranika Dubitskaya to be the new member of the Management Board of AS „Olainfarm”.  In the Management Board Veranika Dubitskaya will replace Mr Jurijs Kaplinovs, who has submitted his resignation on May 12, 2011.


 

         Information prepared by:
         Salvis Lapins
         Member of the Board
         A/s „Olainfarm”
         Tel: +371 6 7013 717
         Cell: +371 2 6448 873
         E-mail: slapinsh@olainfarm

Sales of “Olainfarm” grew by 65% in April

12/05/2011

Preliminary sales figures of AS “Olainfarm” for April 2011 show that sales have grown by 65% compared to April 2010 and have reached 3.38 million lats (4.81 million Euro). The most rapid sales growth was achieved in Kazakhstan (by 157%), Azerbaijan (by 153%), Ukraine (by 133%) and Tajikistan (by 126%). The main sales markets of AS “Olainfarm” during April 2011 were Russia, Ukraine, UK, Kazakhstan, Belarus and Latvia.


 

Olaine, May 11, 2011, 2011-05-12 06:50 CEST (GLOBE NEWSWIRE) —  

 


























































April, 2011. % of total sales % change to April 2010
Russia 37,1% 39%
Ukraine 21,9% 133%
UK 11,3% NA
Kazakhstan 7,6% 157%
Belarus 6,1% -38%
Latvia 4,3% 23%
Canada 2,9% NA
Lithuania 1,6% NA
Azerbaijan 1,2% 153%
Tajikistan 1,1% 126%
Other 5,0% -32%
     
Total 100% 65%

 

 

According to preliminary results, during 4 months of 2011 the sales have reached 11.32 million lats (16.11 million Euro), which represents an increase by 39% compared to the first four months of 2010. The biggest sales increases were observed in Canada, where sales have increased more than 30 times, in Bulgaria (by 277%), UK (by 100%), Ukraine (by 95%), Italy (by 89%) and Latvia (by 60%). Major sales markets of AS “Olainfarm” during four months of 2011 were Russia, Ukraine, Belarus, UK and Latvia.

 

 


























































4 months of 2011 % of total sales % change to 4 months of 2010
Russia 38,3% 12,4%
Ukraine 20,2% 94,5%
Belarus 11,3% 54,2%
UK 6,8% 100,0%
Latvia 5,9% 60,4%
Kazakhstan 3,7% -13,2%
Canada 1,8% 3045,5%
Uzbekistan 1,7% 30,0%
Italy 1,7% 88,6%
Bulgaria 1,6% 277,1%
Other 7,1% 14,7%
     
Total 100% 39%

 

 

Operating plan and budget of AS “Olainfarm” for 2011 provides that company plans the sales of 29.4 million lats (41.8 million Euro) and the net profit of 5.1 million lats (7.3 million Euro).

 

A/s Olainfarm is one of the biggest pharmaceutical companies in Latvia with nearly 40 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company#ins_quot2#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 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.   

 

         Information prepared by:
         Salvis Lapins
         Member of the Board
         A/s „Olainfarm”
         Tel: +371 6 7013 717
         Cell: +371 2 6448 873
         E-mail: slapinsh@olainfarm

Sales of “Olainfarm” grew by 65% in April

12/05/2011

Preliminary sales figures of AS “Olainfarm” for April 2011 show that sales have grown by 65% compared to April 2010 and have reached 3.38 million lats (4.81 million Euro). The most rapid sales growth was achieved in Kazakhstan (by 157%), Azerbaijan (by 153%), Ukraine (by 133%) and Tajikistan (by 126%). The main sales markets of AS “Olainfarm” during April 2011 were Russia, Ukraine, UK, Kazakhstan, Belarus and Latvia.


 

Olaine, May 11, 2011, 2011-05-12 06:50 CEST (GLOBE NEWSWIRE) —  

 


























































April, 2011. % of total sales % change to April 2010
Russia 37,1% 39%
Ukraine 21,9% 133%
UK 11,3% NA
Kazakhstan 7,6% 157%
Belarus 6,1% -38%
Latvia 4,3% 23%
Canada 2,9% NA
Lithuania 1,6% NA
Azerbaijan 1,2% 153%
Tajikistan 1,1% 126%
Other 5,0% -32%
     
Total 100% 65%

 

 

According to preliminary results, during 4 months of 2011 the sales have reached 11.32 million lats (16.11 million Euro), which represents an increase by 39% compared to the first four months of 2010. The biggest sales increases were observed in Canada, where sales have increased more than 30 times, in Bulgaria (by 277%), UK (by 100%), Ukraine (by 95%), Italy (by 89%) and Latvia (by 60%). Major sales markets of AS “Olainfarm” during four months of 2011 were Russia, Ukraine, Belarus, UK and Latvia.

 

 


























































4 months of 2011 % of total sales % change to 4 months of 2010
Russia 38,3% 12,4%
Ukraine 20,2% 94,5%
Belarus 11,3% 54,2%
UK 6,8% 100,0%
Latvia 5,9% 60,4%
Kazakhstan 3,7% -13,2%
Canada 1,8% 3045,5%
Uzbekistan 1,7% 30,0%
Italy 1,7% 88,6%
Bulgaria 1,6% 277,1%
Other 7,1% 14,7%
     
Total 100% 39%

 

 

Operating plan and budget of AS “Olainfarm” for 2011 provides that company plans the sales of 29.4 million lats (41.8 million Euro) and the net profit of 5.1 million lats (7.3 million Euro).

 

A/s Olainfarm is one of the biggest pharmaceutical companies in Latvia with nearly 40 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company#ins_quot2#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 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.   

 

         Information prepared by:
         Salvis Lapins
         Member of the Board
         A/s „Olainfarm”
         Tel: +371 6 7013 717
         Cell: +371 2 6448 873
         E-mail: slapinsh@olainfarm

Statement of the Supervisory Council of JSC „Olainfarm” to the General Meeting of Shareholders

02/05/2011

Supervisory Council of JSC „Olainfarm” (hereinafter referred to as „the Company”) has reviewed the annual report and consolidated report of the Company prepared by the Management Board as well as the auditor’s statement of 2010. The Supervisory Council has also assessed the financial situation at the Company and operations of the Management Board during 2010 and has prepared this Statement.


 

The Supervisory Council is very satisfied with financial results of the Company achieved in 2010 and with the work conducted by the Management Board to make further improvements to Company’s financial situation. Sales, profits and margins of the Company continue improving and intensive work at introducing new products and entering new sales markets, the basis is laid for sustainability of this positive trend.  Considerable work has been done to reduce different financial risks, improve financing terms, active work has been started to accommodate structural and other resources available to the Company. During just one year several projects have been prepared targeted at more efficient use of energy and human resources.  All of the above activities have been conducted by the Management Board with full approval of the Council.

 

2010 will be remembered not only as yet another year of record sales and profits, but also as the first year when Management Board of the Company proposed the shareholders to pay part of the profit in dividends. Council fully backs this proposal of the Management Board and agrees to the amount of profit to be distributed. The Council fully understands all the challenges that the Company is facing when trying to enter markets that are totally new to the Company and when launching new products, therefore it respects the moderate approach taken to proposed amount of dividends.   

When assessing the Company’s sales by countries for last few years, the Council has drawn the attention of Management Board to necessity to take more active steps to reduce the dependency of sales from any single market, although launching of the sales in any new market might require significant financial resources. Council is satisfied with results already achieved with registration of new products in Serbia and Albania and hopes that sales to these countries will begin in the nearest future.  The council expects Management Board to continue investing significant effort to ensure that similar results will be achieved in other countries and other regions.

 

During 2010 the Council of the Company has fulfilled its duties and has supervised the work of the Company according to the legislation and the decisions of Shareholders’ Meetings; it has been reviewing financial reports and supervising the work of Company’s management.   13 Council meeting were held during the reporting period.   At the meetings the management reports, planned and actual numbers were reviewed and issues and draft decisions included in the agenda of Shareholders’ were given a prior consideration. Several decisions were taken regarding participation of the Company in projects important for Company, pharmaceutical sector and inhabitants of Olaine.   No shortfalls were ascertained in the Management Board’s activities during 2010. In its operations the Management Board has largely been consulting Supervisory Council and has been taking into consideration its suggestions regarding the further growth of the Company .

 

The Council would like to take this opportunity and thank the Management Board and all the people of Olainfarm for a fruitful work in 2010 and congratulate shareholders of the Company with successful results of the last year.

 

Chairman of the Council                      Helmuts Balderis – Sildedzis

 

 

         Olaine, April 30, 2011
         Information prepared by:
         Salvis Lapins
         JSC Olainfarm
         Member of the Board
         Rupnicu iela 5, Olaine
         Latvia, LV 2114
         Tel: +371 6 7013 717
         Fax: +371 6 7013 777
         e-mail: slapinsh@olainfarm.lv

Statement of the Supervisory Council of JSC „Olainfarm” to the General Meeting of Shareholders

02/05/2011

Supervisory Council of JSC „Olainfarm” (hereinafter referred to as „the Company”) has reviewed the annual report and consolidated report of the Company prepared by the Management Board as well as the auditor’s statement of 2010. The Supervisory Council has also assessed the financial situation at the Company and operations of the Management Board during 2010 and has prepared this Statement.


 

The Supervisory Council is very satisfied with financial results of the Company achieved in 2010 and with the work conducted by the Management Board to make further improvements to Company’s financial situation. Sales, profits and margins of the Company continue improving and intensive work at introducing new products and entering new sales markets, the basis is laid for sustainability of this positive trend.  Considerable work has been done to reduce different financial risks, improve financing terms, active work has been started to accommodate structural and other resources available to the Company. During just one year several projects have been prepared targeted at more efficient use of energy and human resources.  All of the above activities have been conducted by the Management Board with full approval of the Council.

 

2010 will be remembered not only as yet another year of record sales and profits, but also as the first year when Management Board of the Company proposed the shareholders to pay part of the profit in dividends. Council fully backs this proposal of the Management Board and agrees to the amount of profit to be distributed. The Council fully understands all the challenges that the Company is facing when trying to enter markets that are totally new to the Company and when launching new products, therefore it respects the moderate approach taken to proposed amount of dividends.   

When assessing the Company’s sales by countries for last few years, the Council has drawn the attention of Management Board to necessity to take more active steps to reduce the dependency of sales from any single market, although launching of the sales in any new market might require significant financial resources. Council is satisfied with results already achieved with registration of new products in Serbia and Albania and hopes that sales to these countries will begin in the nearest future.  The council expects Management Board to continue investing significant effort to ensure that similar results will be achieved in other countries and other regions.

 

During 2010 the Council of the Company has fulfilled its duties and has supervised the work of the Company according to the legislation and the decisions of Shareholders’ Meetings; it has been reviewing financial reports and supervising the work of Company’s management.   13 Council meeting were held during the reporting period.   At the meetings the management reports, planned and actual numbers were reviewed and issues and draft decisions included in the agenda of Shareholders’ were given a prior consideration. Several decisions were taken regarding participation of the Company in projects important for Company, pharmaceutical sector and inhabitants of Olaine.   No shortfalls were ascertained in the Management Board’s activities during 2010. In its operations the Management Board has largely been consulting Supervisory Council and has been taking into consideration its suggestions regarding the further growth of the Company .

 

The Council would like to take this opportunity and thank the Management Board and all the people of Olainfarm for a fruitful work in 2010 and congratulate shareholders of the Company with successful results of the last year.

 

Chairman of the Council                      Helmuts Balderis – Sildedzis

 

 

         Olaine, April 30, 2011
         Information prepared by:
         Salvis Lapins
         JSC Olainfarm
         Member of the Board
         Rupnicu iela 5, Olaine
         Latvia, LV 2114
         Tel: +371 6 7013 717
         Fax: +371 6 7013 777
         e-mail: slapinsh@olainfarm.lv

Decisions of annual general meeting

29/04/2011

Name of securities: Public shares of JSC „Olainfarm”


      ISIN code: LV000100501

      Paid – in capital: 14 085 078 LVL

      Date of the Annual General Meeting: April 29, 2011 at 11:00

      Venue: Olaine, Rupnicu iela 5.

      Following documents have been approved at the Annual General Meeting:

 

1.         Report of the Board on results of operations in 2010.

 

To take notice of the Management Report on results of operations in 2010.

 

Voting: the resolution was adopted unanimously.

 

2.         Report of the Council on results of operations in 2010

 

To take notice of the Council Report on results of operations in 2010.

 

Voting: the resolution was adopted unanimously.

 

3. Report of the Auditing Committee.

 

To take notice of the Report of the Auditing Committee.

 

Voting: the resolution was adopted unanimously.

 

4.         Approval of the Audited Annual Report for 2010.

 

To approve the Audited Annual Report for 2010.

 

Voting: the resolution was adopted unanimously

 

5.         Approval of the Audited Consolidated Annual Report for 2010.

 

To approve the Audited Consolidated Annual Report for 2010.

 

Voting: the resolution was adopted unanimously.

 

6.         Division of profit of 2010.

 

To use the part of profit made by AS “Olainfarm” in 2010 in value of 352 126,95 lats (501 031,51 Euro) to pay dividends to shareholders of AS “Olainfarm”, (ISIN code LV0000100501) paying a dividend of 2.5 santims per share, and to reinvest the remaining part of the profit in value of 3 191 542,05 lats (4 541 155,22 Euro) into development of the Company.

To set June 15, 2011 to be the record date for dividends and June 20, 2011 to be the payment date.

 

Voting: the resolution was adopted with the necessary majority of votes.

 

7.         Report of the Board on budget for 2011 and on planned operations in 2011.

 

 

To take notice of Report of the Board on budget for 2011 and on planned

operations in 2011, which include Company#ins_quot2#s sales forecast of 29.4 million lats

(41.8 million Euros) and profit forecast of 5.1 million lats (7.3 million

Euros).

 

 

Voting: the resolution was adopted unanimously.

 

8. Election of the Certified Auditor for 2011.

 

8.1. to elect SIA „Ernst & Young Baltic” (license No. 17, unified registration

number: 40003593454) to be the certified auditor of JSC „Olainfarm” in 2011.

 

Voting: the resolution was adopted unanimously.

 

8.2. to set the total remuneration of certified auditor at 29 000 lats (41 263

Euros), exclusive of VAT.

 

9.         Election of the Auditing Committee.

 

9.1. to elect Zanna Karaseva to be the sole member of the Auditing Committee.

 

Voting: the resolution was adopted unanimously.

 

9.2. to set the total monthly remuneration of the members of the Auditing

Committee at 500 lats (711 Euros). 

         Olaine, April 29, 2011
         Information prepared by:
         Salvis Lapins
         JSC Olainfarm
         Member of the Board
         Rupnicu iela 5, Olaine
         Latvia, LV 2114
         Tel: +371 6 7013 717
         Fax: +371 6 7013 777
         e-mail: slapinsh@olainfarm.lv

Decisions of annual general meeting

29/04/2011

Name of securities: Public shares of JSC „Olainfarm”


      ISIN code: LV000100501

      Paid – in capital: 14 085 078 LVL

      Date of the Annual General Meeting: April 29, 2011 at 11:00

      Venue: Olaine, Rupnicu iela 5.

      Following documents have been approved at the Annual General Meeting:

 

1.         Report of the Board on results of operations in 2010.

 

To take notice of the Management Report on results of operations in 2010.

 

Voting: the resolution was adopted unanimously.

 

2.         Report of the Council on results of operations in 2010

 

To take notice of the Council Report on results of operations in 2010.

 

Voting: the resolution was adopted unanimously.

 

3. Report of the Auditing Committee.

 

To take notice of the Report of the Auditing Committee.

 

Voting: the resolution was adopted unanimously.

 

4.         Approval of the Audited Annual Report for 2010.

 

To approve the Audited Annual Report for 2010.

 

Voting: the resolution was adopted unanimously

 

5.         Approval of the Audited Consolidated Annual Report for 2010.

 

To approve the Audited Consolidated Annual Report for 2010.

 

Voting: the resolution was adopted unanimously.

 

6.         Division of profit of 2010.

 

To use the part of profit made by AS “Olainfarm” in 2010 in value of 352 126,95 lats (501 031,51 Euro) to pay dividends to shareholders of AS “Olainfarm”, (ISIN code LV0000100501) paying a dividend of 2.5 santims per share, and to reinvest the remaining part of the profit in value of 3 191 542,05 lats (4 541 155,22 Euro) into development of the Company.

To set June 15, 2011 to be the record date for dividends and June 20, 2011 to be the payment date.

 

Voting: the resolution was adopted with the necessary majority of votes.

 

7.         Report of the Board on budget for 2011 and on planned operations in 2011.

 

 

To take notice of Report of the Board on budget for 2011 and on planned

operations in 2011, which include Company#ins_quot2#s sales forecast of 29.4 million lats

(41.8 million Euros) and profit forecast of 5.1 million lats (7.3 million

Euros).

 

 

Voting: the resolution was adopted unanimously.

 

8. Election of the Certified Auditor for 2011.

 

8.1. to elect SIA „Ernst & Young Baltic” (license No. 17, unified registration

number: 40003593454) to be the certified auditor of JSC „Olainfarm” in 2011.

 

Voting: the resolution was adopted unanimously.

 

8.2. to set the total remuneration of certified auditor at 29 000 lats (41 263

Euros), exclusive of VAT.

 

9.         Election of the Auditing Committee.

 

9.1. to elect Zanna Karaseva to be the sole member of the Auditing Committee.

 

Voting: the resolution was adopted unanimously.

 

9.2. to set the total monthly remuneration of the members of the Auditing

Committee at 500 lats (711 Euros). 

         Olaine, April 29, 2011
         Information prepared by:
         Salvis Lapins
         JSC Olainfarm
         Member of the Board
         Rupnicu iela 5, Olaine
         Latvia, LV 2114
         Tel: +371 6 7013 717
         Fax: +371 6 7013 777
         e-mail: slapinsh@olainfarm.lv

Clarification of draft resolutions proposed for Annual General meeting of AS Olainfarm scheduled for April 29, 2011

21/04/2011

Olaine, 2011-04-21 12:56 CEST (GLOBE NEWSWIRE) — We hereby specify draft resolution on Item #6 of the agenda of Annual General Meeting of Shareholders of AS „Olainfarm” scheduled for April 29, 2011:


 

6. Distribution of net profit of 2010.

 

Draft resolution:

To use 352 126.95 lats (501 031.51 euros) from the net profit of AS “Olainfarm” of 2010 to pay dividends of 2.5 Latvian santims (3.557 euro cents) per share to shareholders of AS Olainfarm (ISIN Code of shares LV0000100501), and to invest the remaining part of the net profit of 2010 in amount of 3 191 542.05 lats (4 541 155.22 euro) in development of the Company.

To set June 15th, 2011 to be the record date for dividends”.

 

 

Management Board of AS “Olainfarm”  

         Information prepared by
         Salvis Lapins
         Member of the Board
         AS “Olainfarm”
         Rupnicu iela 5, Olaine
         Latvia, LV 2114
         Tel: +371 6 7013 717
         Cell: +371 2 6448 873
         e-mail: slapinsh@olainfarm.lv

Clarification of draft resolutions proposed for Annual General meeting of AS Olainfarm scheduled for April 29, 2011

21/04/2011

Olaine, 2011-04-21 12:56 CEST (GLOBE NEWSWIRE) — We hereby specify draft resolution on Item #6 of the agenda of Annual General Meeting of Shareholders of AS „Olainfarm” scheduled for April 29, 2011:


 

6. Distribution of net profit of 2010.

 

Draft resolution:

To use 352 126.95 lats (501 031.51 euros) from the net profit of AS “Olainfarm” of 2010 to pay dividends of 2.5 Latvian santims (3.557 euro cents) per share to shareholders of AS Olainfarm (ISIN Code of shares LV0000100501), and to invest the remaining part of the net profit of 2010 in amount of 3 191 542.05 lats (4 541 155.22 euro) in development of the Company.

To set June 15th, 2011 to be the record date for dividends”.

 

 

Management Board of AS “Olainfarm”  

         Information prepared by
         Salvis Lapins
         Member of the Board
         AS “Olainfarm”
         Rupnicu iela 5, Olaine
         Latvia, LV 2114
         Tel: +371 6 7013 717
         Cell: +371 2 6448 873
         e-mail: slapinsh@olainfarm.lv

Preliminary results of “Olainfarm”: sales in 1st quarter have increased by 28%

15/04/2011

Preliminary sales figures of AS “Olainfarm” for the first quarter of 2011 show the sales increase by 28% compared to similar period a year ago, thus the sales have reached 7.84 million lats (11.6 million euro). The most rapid sales growth has been experienced in Bulgaria – by 350%, Belarus by 117%, Uzbekistan by 87%, Ukraine by 80%, Latvia by 75%, and Italy by 61%. The main sales markets of AS “Olainfarm” during the first quarter of 2011 were Russia, Ukraine, Belarus and Latvia.



Reacting to a call by investors to provide a more frequent information about the development of company’s financial situation during periods between quarterly reports, AS “Olainfarm” will from now on by 15th date of the following month (or later, if 15th is a holiday) inform about the preliminary sales figures of the previous month. By similar dates of April, July, October and January AS “Olainfarm” will publish preliminary quarterly sales figures.
























































Country


% of total sales


Changes compared to similar period a year ago


Russia


39,4%


4,3%


Ukraine


19,7%


80,4%


Belarus


13,6%


116,9%


Latvia


6,7%


75,1%


UK


4,9%


0,00%


Uzbekistan


2,5%


87,3%


Kazakhstan


2,1%


-57,3%


Bulgaria


2,0%


350,1%


Lithuania


1,7%


34,6%


Italy


1,7%


60,8%


Other countries


5,8%


11,5%


 

A/s Olainfarm is one of the biggest pharmaceutical companies in Latvia with nearly 40 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company#ins_quot2#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 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.


Information prepared by:

Salvis Lapins

Member of the Board

A/s „Olainfarm”

Tel: +371 6 7013 717

Cell: +371 2 6448 873

E-mail: slapinsh@olainfarm.lv


Preliminary results of “Olainfarm”: sales in 1st quarter have increased by 28%

15/04/2011

Preliminary sales figures of AS “Olainfarm” for the first quarter of 2011 show the sales increase by 28% compared to similar period a year ago, thus the sales have reached 7.84 million lats (11.6 million euro). The most rapid sales growth has been experienced in Bulgaria – by 350%, Belarus by 117%, Uzbekistan by 87%, Ukraine by 80%, Latvia by 75%, and Italy by 61%. The main sales markets of AS “Olainfarm” during the first quarter of 2011 were Russia, Ukraine, Belarus and Latvia.



Reacting to a call by investors to provide a more frequent information about the development of company’s financial situation during periods between quarterly reports, AS “Olainfarm” will from now on by 15th date of the following month (or later, if 15th is a holiday) inform about the preliminary sales figures of the previous month. By similar dates of April, July, October and January AS “Olainfarm” will publish preliminary quarterly sales figures.
























































Country


% of total sales


Changes compared to similar period a year ago


Russia


39,4%


4,3%


Ukraine


19,7%


80,4%


Belarus


13,6%


116,9%


Latvia


6,7%


75,1%


UK


4,9%


0,00%


Uzbekistan


2,5%


87,3%


Kazakhstan


2,1%


-57,3%


Bulgaria


2,0%


350,1%


Lithuania


1,7%


34,6%


Italy


1,7%


60,8%


Other countries


5,8%


11,5%


 

A/s Olainfarm is one of the biggest pharmaceutical companies in Latvia with nearly 40 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company#ins_quot2#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 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.


Information prepared by:

Salvis Lapins

Member of the Board

A/s „Olainfarm”

Tel: +371 6 7013 717

Cell: +371 2 6448 873

E-mail: slapinsh@olainfarm.lv


Draft resolutions of the Annual General Meeting of Shareholders of JSC „Olainfarm” to be held on April 29, 2011.

15/04/2011

1.  Report of the Board on results of operations in 2010.


Draft resolution:

To take notice of the Report of the Board on results of operations in 2010.

 

2. Report of the Council on results of operations in 2010.

Draft resolution:

To take notice of the Report of the Council on results of operations in 2010.

 

3. Report of the Auditing Committee.

Draft resolution:

To take notice of the Report of the Auditing Committee.

 

4. Approval of the Audited Annual Report for 2010.

Draft resolution:

To approve the Audited Annual Report of JSC „Olainfarm” for 2010.

 

5. Approval of the Audited Consolidated Annual Report for 2010.

Draft resolution:

To approve the Audited Consolidated Annual Report of JSC „Olainfarm” for 2010.

 

6. Distribution of net profit of 2010.

Draft resolution:

To use 352 126.95 lats (501 031.51 euros) from the net profit of AS “Olainfarm” of 2010 to pay dividends to shareholders, and to invest the remaining part of the net profit of 2010 in amount of 3 191 542.05 lats (4 541 155.22 euro) in development of the Company.

 

7. Report of the Board on budget for 2011 and on planned operations in 2011

Draft resolution:

To take notice of Report of the Board on budget for 2011 and on planned operations in 2011, which include Company#ins_quot2#s sales forecast of 29.4 million lats (41.8 million Euros) and profit forecast of 5.1 million lats (7.3 million Euros).

 

8. Election of the Certified Auditor for 2011.

Draft resolutions:

8.1. to elect SIA „Ernst & Young Baltic” (license No. 17, unified registration number: 40003593454) to be the certified auditor of JSC „Olainfarm” in 2011;

8.2. to set the total remuneration of certified auditor at 29 000 lats (41 263 Euros), exclusive of VAT.

 

9. Election of the Auditing Committee.

Draft resolutions:      

9.1. to elect Zanna Karaseva to be the sole member of the Auditing Committee;

9.2. to set the total monthly remuneration of the members of the Auditing Committee at 500 lats (711 Euros)      

 

10.  Upon the request made by shareholder SIA „Olmafarm”, item of the agenda „Elections of the Supervisory Council” previously additionally included in the agenda upon the request of the same shareholder, has been withdrawn from the agenda of the Annual General Meeting of Shareholders of AS „Olainfarm”.

 

  

         Information prepared by:
         Salvis Lapins
         Member of the Board
         A/s „Olainfarm”
         Tel: +371 6 7013 717
         Cell: +371 2 6448 873
         E-mail: slapinsh@olainfarm.lv

Draft resolutions of the Annual General Meeting of Shareholders of JSC „Olainfarm” to be held on April 29, 2011.

15/04/2011

1.  Report of the Board on results of operations in 2010.


Draft resolution:

To take notice of the Report of the Board on results of operations in 2010.

 

2. Report of the Council on results of operations in 2010.

Draft resolution:

To take notice of the Report of the Council on results of operations in 2010.

 

3. Report of the Auditing Committee.

Draft resolution:

To take notice of the Report of the Auditing Committee.

 

4. Approval of the Audited Annual Report for 2010.

Draft resolution:

To approve the Audited Annual Report of JSC „Olainfarm” for 2010.

 

5. Approval of the Audited Consolidated Annual Report for 2010.

Draft resolution:

To approve the Audited Consolidated Annual Report of JSC „Olainfarm” for 2010.

 

6. Distribution of net profit of 2010.

Draft resolution:

To use 352 126.95 lats (501 031.51 euros) from the net profit of AS “Olainfarm” of 2010 to pay dividends to shareholders, and to invest the remaining part of the net profit of 2010 in amount of 3 191 542.05 lats (4 541 155.22 euro) in development of the Company.

 

7. Report of the Board on budget for 2011 and on planned operations in 2011

Draft resolution:

To take notice of Report of the Board on budget for 2011 and on planned operations in 2011, which include Company#ins_quot2#s sales forecast of 29.4 million lats (41.8 million Euros) and profit forecast of 5.1 million lats (7.3 million Euros).

 

8. Election of the Certified Auditor for 2011.

Draft resolutions:

8.1. to elect SIA „Ernst & Young Baltic” (license No. 17, unified registration number: 40003593454) to be the certified auditor of JSC „Olainfarm” in 2011;

8.2. to set the total remuneration of certified auditor at 29 000 lats (41 263 Euros), exclusive of VAT.

 

9. Election of the Auditing Committee.

Draft resolutions:      

9.1. to elect Zanna Karaseva to be the sole member of the Auditing Committee;

9.2. to set the total monthly remuneration of the members of the Auditing Committee at 500 lats (711 Euros)      

 

10.  Upon the request made by shareholder SIA „Olmafarm”, item of the agenda „Elections of the Supervisory Council” previously additionally included in the agenda upon the request of the same shareholder, has been withdrawn from the agenda of the Annual General Meeting of Shareholders of AS „Olainfarm”.

 

  

         Information prepared by:
         Salvis Lapins
         Member of the Board
         A/s „Olainfarm”
         Tel: +371 6 7013 717
         Cell: +371 2 6448 873
         E-mail: slapinsh@olainfarm.lv

“Olainfarm” to supply anti-tuberculosis medication to the World Health Organisation

15/04/2011

At the end of March AS „Olainfarm” became the first post-soviet producer of pharmaceuticals to have its product included in the list of prequalified medicines of the World Health Organisation (WHO). Anti-tuberculosis medicine Para amino salicylic acid – sodium salt (PASA) has been included in WHO programme for countries with high incidence of tuberculosis. This means that the company can sell this medication to the relevant programmes of WHO without separate market authorisation for particular countries. Within this programme Olainfarm has already been awarded a first order of received a first order of PASA worth 1.4 million US dollars.



“Being prequalified for this WHO programme is the highest possible appreciation of quality of Olainfarm’s products. It opens new sales market for this anti-tuberculosis medicine. We are glad that the process of assessing production quality of Olainfarm that has lasted for four years has ended with such result, and it has been confirmed that in quality terms we are in the same league with pharmaceutical giants like “GlaxoSmithKline”, “Roche”, “Pfizer” and others”, says Valerijs Maligins, Chairman of Olainfarm’s Board.


AS “Olainfarm” launched PASA in 2001. Since then the company has been delivering this product to special clinical centres in Latvia, Lithuania, Estonia, Ukraine and Belarus. In 2007 AS „Olainfarm” was awarded a contract by authorities of Kazakhstan to supply PASA to national reserves of Kazakhstan. Value of the contract then was 974 000 lats (1,38 million euro).


AS “Olainfarm” is the only European producer of PASA, producing it in a user friendly and comfortable form of sachets for per-oral use. PASA is an anti-tuberculosis medicine with bacteriostatic activity against micro-bacteria of tuberculosis. In combination with other anti-tuberculosis products it is being used for treatment of different forms and localisations of tuberculosis if more traditional treatment methods have proven ineffective.


List of WHO prequalified medicines includes companies from US, UK, Australia, Latvia, Belgium, RSA, France, Italy, India, China, Canada, The Netherlands, Spain, Switzerland, Hungary, Germany and other countries. More detailed information about WHO programmes is available at: http://apps.who.int/prequal/default.htm.


A/s Olainfarm is one of the biggest pharmaceutical companies in Latvia with nearly 40 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company#ins_quot2#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 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.



Information prepared by:

Salvis Lapins

Member of the Board

A/s „Olainfarm”

Tel: +371 6 7013 717

Cell: +371 2 6448 873

E-mail: slapinsh@olainfarm.lv


“Olainfarm” to supply anti-tuberculosis medication to the World Health Organisation

15/04/2011

At the end of March AS „Olainfarm” became the first post-soviet producer of pharmaceuticals to have its product included in the list of prequalified medicines of the World Health Organisation (WHO). Anti-tuberculosis medicine Para amino salicylic acid – sodium salt (PASA) has been included in WHO programme for countries with high incidence of tuberculosis. This means that the company can sell this medication to the relevant programmes of WHO without separate market authorisation for particular countries. Within this programme Olainfarm has already been awarded a first order of received a first order of PASA worth 1.4 million US dollars.



“Being prequalified for this WHO programme is the highest possible appreciation of quality of Olainfarm’s products. It opens new sales market for this anti-tuberculosis medicine. We are glad that the process of assessing production quality of Olainfarm that has lasted for four years has ended with such result, and it has been confirmed that in quality terms we are in the same league with pharmaceutical giants like “GlaxoSmithKline”, “Roche”, “Pfizer” and others”, says Valerijs Maligins, Chairman of Olainfarm’s Board.


AS “Olainfarm” launched PASA in 2001. Since then the company has been delivering this product to special clinical centres in Latvia, Lithuania, Estonia, Ukraine and Belarus. In 2007 AS „Olainfarm” was awarded a contract by authorities of Kazakhstan to supply PASA to national reserves of Kazakhstan. Value of the contract then was 974 000 lats (1,38 million euro).


AS “Olainfarm” is the only European producer of PASA, producing it in a user friendly and comfortable form of sachets for per-oral use. PASA is an anti-tuberculosis medicine with bacteriostatic activity against micro-bacteria of tuberculosis. In combination with other anti-tuberculosis products it is being used for treatment of different forms and localisations of tuberculosis if more traditional treatment methods have proven ineffective.


List of WHO prequalified medicines includes companies from US, UK, Australia, Latvia, Belgium, RSA, France, Italy, India, China, Canada, The Netherlands, Spain, Switzerland, Hungary, Germany and other countries. More detailed information about WHO programmes is available at: http://apps.who.int/prequal/default.htm.


A/s Olainfarm is one of the biggest pharmaceutical companies in Latvia with nearly 40 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company#ins_quot2#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 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.



Information prepared by:

Salvis Lapins

Member of the Board

A/s „Olainfarm”

Tel: +371 6 7013 717

Cell: +371 2 6448 873

E-mail: slapinsh@olainfarm.lv


Number of shares belonging to the members of Management Board and of Supervisory Council

07/04/2011

Number of shares belonging to the members of Management Board and of Supervisory Council (as of April 23rd, 2010)

Supervisory Council
Name Directly Indirectly Total
Helmuts Balderis – Sildedzis
3 686 014 3 686 014
Management Board
Valērijs Maligins 430 730 5 994 054 6 424 784
Salvis Lapiņš 83 153
83 153
Jurijs Kapļinovs 26 071
26 071
Inga Liščika 1 002
1 002

Financial reports

07/04/2011


Year Q1 Q2 Q3 Q4 Annual reports
1999 LVL
2000 LVL
2001 LVL LVL LVL LVL
2002 LVL LVL LVL LVL
2003 LVL LVL LVL LVL LVL
2004 LVL LVL UNI UNI LVL 3
2005 UNI UNI UNI 1,3

UNI 3

UNI UNI 3

UNI 1,3

2006 UNI 1,3 UNI 1,3 UNI 1,2 UNI 1,2

UNI 2

UNI 3

UNI 1,2

LVL 2

2007 UNI 2

UNI 1,2

UNI 1,2

UNI 2

UNI 2

UNI 1,2

UNI 2

UNI 1,2

UNI 1,2

UNI 3

2008 UNI 1,2

UNI 2

UNI 1,2

UNI 2

UNI 2

UNI 1,2

UNI 2

UNI 1,2

UNI 1,2

UNI 3

2009 UNI 1,2 UNI 1,2 UNI 1,2 UNI 1,2 UNI 3

UNI 1,2

2010 UNI 1,2 UNI 1,2 UNI 1,2

Notes:

  1. Consolidated report
  2. Prepared according to international accounting standards
  3. Prepared according to Latvian accounting standards

Security

07/04/2011


ISIN LV0000100501
Code of Stock Exchange OLF1R
Market BALTIC MAIN LIST
Face value 1,00 LVL
Total number of securities 14 085 078
Number of listed securities 14 085 078
Listing date 09.06.1997

Major shareholders

07/04/2011

Major shareholders of A/s “Olainfarm” as of April 23rd, 2010

Shareholder % of holdings in a/s “Olainfarm”
SIA „Olmafarm” 42,56%
HB – 19 Investments Limited 26,17%