Olainfarm Acquires Kiwi Cosmetics, Producer of Eco-cosmetics

20/01/2016

Earlier this week, on January 18, 2016, JSC Olainfarm signed an agreement whereby it acquired 100% shares in eco-cosmetics company Kiwi Cosmetics Ltd..  The acquisition will allow both companies to expand and to optimize their production, enter new markets and strengthen positions in existing ones. The existing management team of Agate Jurkovska-Kanca, Elina Iltnere-Karkla and Solveiga Zvejniece will continue working in the company. According to preliminary results, sales of Kiwi Cosmetics Ltd. in 2015 were 123 000 euros.

“We very highly value the ability of different Latvian producers to supply best quality demanded products to the increasing market of admirers of a green lifestyle. Latvia has several well-cherished companies both, in area of green pharma and eco-cosmetics that for more rapid development need a little stronger base.  Therefore, we continue what we started with acquisition of Silvanols, Latvia’s green pharma leader, and are acquiring Kiwi Cosmetics, a producer of eco-cosmetics, a company, which is also driven by a desire to help people use the power of nature.  We see many synergies between Kiwi Cosmetics and Silvanols in production, marketing and exports, and between Kiwi Cosmetics and Latvijas aptieka in distribution of eco-cosmetics with health claims.  Also, experience of Olainfarm in production development, optimization and export expansion will provide considerable contribution to further growth of newly acquired company,” says Valerijs Maligins, Chairman of Olainfarm’s Board.

Co-founder of Kiwi Cosmetic Ltd., Agate Jurkovska-Kanca admits: “Five years ago, a company named “Kivvi” was founded to produce products with optimal balance between power of nature and achievements of science.  From initial portfolio of five more classical products, including facial, eye and hand creams, we have grown to more than 70 products, including a special product line for men.  We feel we have managed to make a good initial run, so Kiwi Cosmetics can now take-off and gain more and more height. We hope that soon many more people in many more countries will enjoy concentrated strength of its products. Olainfarm and its experienced team, whom we are joining will help us achieve that.”

Kiwi Cosmetics Ltd. founded in 2011 is producing eco-cosmetics for body and face, both, for men and women under “Kivvi” label.  Its product portfolio includes more than 70 names, all suitable for vegans. Most of “Kivvi” products are certified according to internationally renowned ECOCERT standards. The standard guarantees that composition of cosmetic product includes only natural ingredients, sourced from biological farming, that products are produced in energy efficient way and that the packaging is recyclable and environmentally friendly. Some 30% of sales are made in Latvia, while 70% are exported to countries, including Austria, Bulgaria, Denmark, Czech Republic, Estonia, Italy, Japan, Lithuania, Norway, Poland, Romania, Slovakia, Slovenia, Finland, Spain, Germany and Sweden.  In Latvia, products of Kiwi Cosmetics are sold in stores in Riga, Liepaja, Valmiera, Jelgava, Sigulda, Ogre, Adazi and Marupe, in beauty salons and internet shops.

Group of Olainfarm consists of parent company JSC Olainfarm, pharmacy chain of Latvijas aptieka Ltd.. JSC Olainfarm also owns 96.69% shares in leading Latvian food supplement producer Silvanols Ltd..

 

JSC Olainfarm is one of the biggest pharmaceutical companies in Latvia with more than 40 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company’s operations is to produce reliable and effective top quality products for Latvia and the rest of the world. Products made by the Group are being exported to more than 40 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

 

Information prepared by:

Salvis Lapins
JSC Olainfarm
Member of the Management Board
Rupnicu iela 5, Olaine, Latvia, LV 2114
Phone: +371 6 7013 717
Fax: +371 6 7013 777
E-mail: Salvis.Lapins@olainfarm.lv

Sales of Olainfarm in 2015 Exceeds 98 Million Euros

15/01/2016

Preliminary consolidated results of JSC Olainfarm for December 2015 show that sales of the company have reached 7.4 million euros, which represents a reduction by 5% compared to the same period one year ago. The biggest sales increase was achieved in Albania, where sales grew by 153%. Sales to The Netherlands grew by 145%, sales to Georgia by 138% and sales to Tajikistan by 89%. Significant shipments during this period have also been made to Uzbekistan. Major sales markets of JSC Olainfarm during December 2015 were Russia, Latvia, and The Netherlands.

December 2015, consolidated sales Share in total sales Changes to December 2014
Russia 40% 24%
Latvia 31% 30%
The Netherlands 7% 145%
Tajikistan 3% 89%
Poland 3% 37%
Ukraine 2% -89%
Uzbekistan 2% NA
Georgia 1% 138%
Belarus 1% -91%
Albania 1% 153%
Other 8% 3%
Total 100% -5%

Sales of pharmacy chain of Latvijas aptieka Ltd. in December 2015 were 1.62 million euros, which represents an increase by 42% compared to the same period one year ago.  62 pharmacies were operating during December. Sales of Silvanols Ltd. during December were 0.52 million euros, which represents an increase by 24% compared to December 2014. During this period products of Silvanols Ltd. were sold to four European countries and with assistance from Olainfarm, also to Belarus and Azerbaijan.

In twelve months of 2015, according to preliminary figures, the consolidated sales of JSC Olainfarm reached 98.09 million euros, which represents an increase by 5% compared to the same period of 2014. The most rapid sales increase in 2015 was achieved in The Netherlands, where sales grew by 107%. Major sales markets of JSC Olainfarm during 2015 were Russia, Latvia, Ukraine, Belarus and The Netherlands.

12 months of 2015, consolidated sales Share in total sales Changes to 12 months of 2014
Russia 34% -1%
Latvia 24% 11%
Ukraine 13% -7%
Belarus 6% -19%
The Netherlands 6% 107%
Kazakhstan 2% 7%
UK 2% -6%
Poland 1% -13%
Uzbekistan 1% 3%
Tajikistan 1% 39%
Other 9% 23%
Total 100% 5%

During 12 months of 2015, sales of pharmacy chain of Latvijas aptieka Ltd. were 16.9 million euros, which represents and increase by 13% compared to 12 months of 2014. Sales of Silvanols Ltd. during 2015 was 4.4 million euros, which represents an increase by 26% compared to 2014, when Silvanols Ltd. made sales worth 3.5 million euros. Products of Silvanols Ltd. during 2015 were sold to 13 countries on two continents, and with the help of JSC Olainfarm also to Belarus, Kazakhstan and Azerbaijan.

According to unconsolidated preliminary results, sales of JSC Olainfarm during December 2015 were 6.08 million euros, which represents a reduction by 12% compared to December 2014. The biggest sales increase was achieved in Albania, where sales grew by 153%. Sales to The Netherlands grew by 145%, sales to Georgia grew by 138%, while sales to Tajikistan grew by 89%. Significant shipments during this period were also made to Uzbekistan. The major sale markets of JSC Olainfarm in December 2015 were Russia, Latvia, and The Netherlands. In total during this period JSC Olainfarm sold its products in 24 countries on three continents.

December 2015, unconsolidated sales Share in total sales Changes to December 2014
Russia 49% 24%
Latvia 18% 13%
The Netherlands 8% 145%
Tajikistan 4% 89%
Ukraine 3% -89%
Poland 2% 4%
Uzbekistan 2% NA
Georgia 2% 138%
Belarus 1% -91%
Albania 1% 153%
Other 9% 13%
Total 100% -12%

According to preliminary unconsolidated results, during 12 months of 2015, sales of JSC Olainfarm were 85.67 million euros, which represents an increase by 5% compared to the same period of 2014. The most rapid sales increase in 2015 was achieved in The Netherlands, where sales grew by 107%. Sales to Turkmenistan grew by 46%, sales to Tajikistan grew by 39% and sales to Latvia grew by 25%. According to preliminary unconsolidated results, the major sales markets of JSC Olainfarm in 2015 were Russia, Ukraine, Latvia, Belarus and The Netherlands. In total during 2015 JSC Olainfarm sold its products in 42 countries on five continents.

12 months of 2015, unconsolidated sales Share in total sales Changes to 12 months of 2014
Russia 39% -1%
Ukraine 15% -7%
Latvia 14% 25%
Belarus 7% -19%
The Netherlands 7% 107%
Kazakhstan 3% 7%
UK 2% -6%
Uzbekistan 2% 3%
Tajikistan 2% 39%
Turkmenistan 1% 46%
Other 9% 9%
Total 100% 5%

Annual General Meeting of shareholders of JSC Olainfarm, held on June 11, 2015 approved operating plan of the company, according to which the unconsolidated sales of the company in 2015 will reach 87 million euros, while consolidated sales will reach 100 million euro. According to these preliminary sales figures, the company has attained 98% of annual target for unconsolidated sales and 98% of annual target for consolidated sales.

 

JSC Olainfarm is one of the biggest pharmaceutical companies in Latvia with more than 40 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company’s operations is to produce reliable and effective top quality products for Latvia and the rest of the world. Products made by the Group are being exported to more than 40 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

 

Information prepared by:

Salvis Lapins
JSC Olainfarm
Member of the Management Board
Rupnicu iela 5, Olaine, Latvia, LV 2114
Phone: +371 6 7013 717
Fax: +371 6 7013 777
E-mail: Salvis.Lapins@olainfarm.lv

 

 

 

 

 

Dates When Financial Reports of JSC Olainfarm Will Be Published in 2016

30/12/2015

JSC Olainfarm hereby announces the dates on which its financial reports will be published in 2016:

Unaudited financial report for 2015 will be published on February 29, 2016.

Audited financial report for 2015 will be published on April 29, 2016.

Unaudited financial report for 1st quarter of 2016 will be published on May 31, 2016.

Unaudited financial report for 2 quarters of 2016 will be published on August 31, 2016.

Unaudited financial report for 3 quarters of 2016 will be published on November 30, 2016.

 

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

Olainfarm Tentatively Plans the Sales Increase of 3% for 2016

23/12/2015

Preliminary plans of JSC Olainfarm for 2016 provide for sales increase of 3% while profit could remain at the levels forecast for 2015 of 15 million euros, or even slightly shrink. More precise forecasts will be approved by an AGM of Olainfarm to be held in June 2016.

Annual General Meeting of shareholders of JSC Olainfarm, held on June 11, 2015 approved operating plan of the company, according to which the unconsolidated sales of the company in 2015 will reach 87 million euros, while consolidated sales will reach 100 million euro.  According to these preliminary sales figures, in eleven months of 2015, the company has attained 91% of annual target for unconsolidated sales and 90% of annual target for consolidated sales.

In eleven months of 2015 according to preliminary results, consolidated sales of JSC Olainfarm have reached 90.19 million euros, which represents an increase by 6% compared to the same period in 2014.  According to preliminary figures the unconsolidated sales of the company have reached 79.59 million euros, which represents an increase by 8% compared to eleven months of 2014.

JSC Olainfarm is one of the biggest pharmaceutical companies in Latvia with more than 40 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company’s operations is to produce reliable and effective top quality products for Latvia and the rest of the world. Products made by the Group are being exported to more than 40 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

Information prepared by:

Salvis Lapins
JSC Olainfarm
Member of the Management Board
Rupnicu iela 5, Olaine, Latvia, LV 2114
Phone: +371 6 7013 717
Fax: +371 6 7013 777
E-mail: Salvis.Lapins@olainfarm.lv

Third Quarter 2015 Investor Conference Webinar

23/12/2015

On December 22 JSC Olainfarm organized its third quarter 2015 Investor Conference Online Webinar. During the webinar the member of the management board of JSC Olainfarm Salvis Lapiņš analyzed the financial results of third quarter 2015 and informed about the company’s future activities, this time paying extra attention to JSC Olainfarm daughter company Silvanols Ltd..

The recorded Olainfarm webinar is available online: ej.uz/OLF_3Q2015_video, and the presentation, demonstrated during the webinar, can be found in the previously published company’s announcement:https://cns.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=690522&messageId=862500.

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
e-mail: Salvis.Lapins@OlainFarm.lv

 

Olainfarm Holds Third Quarter 2015 Investor Conference Webinar

22/12/2015

JSC Olainfarm invites shareholders, investors, mass media representatives and other stakeholders to join its third quarter 2015 investor conference webinar scheduled on December 22, 2015 at 16:00 (EET). Please note that attendees have to register for the webinar – detailed information on the registration process is available below.

Webinar will be hosted by the Member of the Management Board Salvis Lapiņš. The presentation will be held in English.

During the webinar Salvis Lapiņš will inform about JSC Olainfarm latest activities and analyze the non-audited financial results of the third quarter 2015. After the presentation investors are welcome to ask questions.

During the webinar the enclosed presentation will be presented: Webinar Presentation: 3rd quarter and 9 months of 2015

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

How to join the webinar?
All you need is a computer with internet connection and headphones.

To join the webinar, we invite you to register via ej.uz/OLF_3Q2015.

You will be provided with the webinar link and instructions to join webinar successfully. When joining the webinar for the first time, you will be asked to download the system application on your computer which will take only few seconds.

For more information on webinar service please visit: http://www.nasdaqbaltic.com/en/products-services/webinars-3/
Join the webinar and be the first one to hear the news!

 

JSC Olainfarm is one of the biggest pharmaceutical companies in Latvia with more than 40 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company’s operations is to produce reliable and effective top quality products for Latvia and the rest of the world. Products made by the Group are being exported to more than 40 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

 

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

Sales of Olainfarm in November Increase by 38%

15/12/2015

According to preliminary consolidated results of JSC Olainfarm for November 2015, company’s sales have reached 9.29 million euro, which represents an increase by 38% compared to November 2014. The biggest sales increase was achieved in Ukraine, where sales grew by 247%. Sales to Poland grew by 271%, sales to Moldova by 194%, and sales to Russia by 54%. In November 2015, significant shipments were also made to Switzerland. Major sales markets of JSC Olainfarm during November 2015 were Russia, Latvia, Ukraine and Switzerland.

November 2015, consolidated sales Share in total sales Changes to November 2014
Russia 39% 54%
Latvia 22% 15%
Ukraine 20% 274%
Switzerland 4% NA
Belarus 3% -54%
Kazakhstan 2% -28%
The Netherlands 2% -77%
Moldova 2% 194%
Poland 1% 271%
Uzbekistan 1% -30%
Other 4% 29%
Total 100% 38%

Sales of the pharmacy chain of  Latvijas Aptieka Ltd. during November 2015 were 1.45 million euro, which represents an increase by 12% compared to the same period of 2014.  Sixty pharmacies were operating during this period.  Silvanols Ltd. has doubled its sales in November, as its sales during this month reached 0.58 million euros, which is the biggest monthly sales so far.  Silvanols Ltd. made its sales in six European countries and with participation of JSC Olainfarm in Belarus as well.

During eleven months of 2015, according to preliminary results, consolidated sales of JSC Olainfarm have reached 90.19 million euros, which represents an increase by 6% compared to the same period of 2014.  The most rapid sales increase during this period was achieved in The Netherlands, where sales have increased by 105%.  The biggest sales markets of JSC Olainfarm during eleven months of 2015 were Russia, Latvia, Ukraine, Belarus and The Netherlands.

11 months of 2015, consolidated sales Share in total sales Changes to 11 months of 2014
Russia 34% -3%
Latvia 23% 9%
Ukraine 14% 15%
Belarus 7% -9%
The Netherlands 6% 105%
Kazakhstan 3% 7%
UK 2% -7%
Uzbekistan 1% -6%
Poland 1% -19%
Tajikistan 1 31%
Other 9% 15%
Total 100% 6%

During eleven months of 2015, sales of pharmacy chain of Latvijas Aptieka Ltd. was 15.3 million euros, which represents an increase by 11% compared to the same period of 2014.  Sales of Silvanols Ltd. during this period were 3.9 million euros, which represents an increase by 27% compared to 11 months of a previous year, when sales of Silvanols Ltd. were 3.03 million euros.  During eleven months of 2015, Silvanols Ltd. sold its products in 13 countries on two continents, with assistance from JSC Olainfarm to Belarus, Kazakhstan and Azerbaijan.

According to preliminary unconsolidated results for November 2015, sales of JSC Olainfarm during this period were 8.1 million euros, which represents an increase by 16% compared to the same period of 2014. The biggest sales increase was achieved in Ukraine, where sales grew by 269%.  Sales to Moldova grew by 194%, sales to Tajikistan grew by 69% and sales to Russia grew by 54%. During November 2015, significant shipments have also been made to Switzerland. The major sales markets of JSC Olainfarm in November 2015 were Russia, Ukraine, Latvia and Switzerland.  During November 2015, JSC Olainfarm sold its products to 23 countries on three continents.

November 2015, unconsolidated sales Share in total sales Changes to November 2014
Russia 44% 54%
Ukraine 23% 269%
Latvia 13% 18%
Switzerland 5% NA
Belarus 4% -54%
Kazakhstan 2% -28%
The Netherlands 2% -77%
Moldova 2% 194%
Uzbekistan 1% -30%
Tajikistan 1% 69%
Other 3% 8%
Total 100% 40%

According to preliminary unconsolidated results, sales of JSC Olainfarm in eleven months of 2015 was 79.59 million euros, which represents an increase by 8% compared to the same period of 2014.The most rapid sales growth was achieved in The Netherlands, where sales grew by 105%. Sales to Turkmenistan grew by 35%, sales to Tajikistan grew by 31%, but sales to Latvia grew by 27%. According to preliminary unconsolidated results, the major sales markets of JSC Olainfarm during eleven months of 2015 were Russia, Ukraine, Latvia, Belarus and The Netherlands. In total during 11 months of 2015, products of JSC Olainfarm were sold to 42 countries on five continents.

11 months of 2015, unconsolidated sales Share in total sales Changes to 11 months of 2014
Russia 38% -3%
Ukraine 16% 15%
Latvia 14% 27%
Belarus 8% -9%
The Netherlands 6% 105%
Kazakhstan 3% 7%
UK 2% -7%
Uzbekistan 2% -6%
Tajikistan 1% 31%
Turkmenistan 1% 35%
Other 9% 9%
Total 100% 6%

Annual General Meeting of shareholders of JSC Olainfarm, held on June 11, 2015 approved operating plan of the company, according to which the unconsolidated sales of the company in 2015 will reach 87 million euros, while consolidated sales will reach 100 million euro.  According to these preliminary sales figures, in eleven months of 2015, the company has attained 91% of annual target for unconsolidated sales and 90% of annual target for consolidated sales.

 

JSC Olainfarm is one of the biggest pharmaceutical companies in Latvia with more than 40 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company’s operations is to produce reliable and effective top quality products for Latvia and the rest of the world. Products made by the Group are being exported to more than 40 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

 

Information prepared by:

Salvis Lapins
JSC Olainfarm
Member of the Management Board
Rupnicu iela 5, Olaine, Latvia, LV 2114
Phone: +371 6 7013 717
Fax: +371 6 7013 777
E-mail: Salvis.Lapins@olainfarm.lv

 

Olainfarm will hold Third Quarter 2015 Investor Conference Webinar

12/12/2015

JSC Olainfarm invites shareholders, investors, mass media representatives and other stakeholders to join its third quarter 2015 investor conference webinar scheduled on December 22, 2015 at 16:00 (EET). Please note that attendees have to register for the webinar – detailed information on the registration process is available below.

Webinar will be hosted by the Member of the Management Board Salvis Lapiņš. The presentation will be held in English.

During the webinar Salvis Lapiņš will inform about JSC Olainfarm latest activities and analyze the non-audited financial results of the third quarter 2015.

After the presentation investors are welcome to ask questions. Due to the limited webinar time, please send in your questions in advance till December 21 to e-mail: ieva.kadakovska@nasdaq.com or Investors’ portal naudaslietas.lv.

 

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

How to join the webinar?
All you need is a computer with internet connection and headphones.

To join the webinar, we invite you to register via ej.uz/OLF_3Q2015.

You will be provided with the webinar link and instructions to join webinar successfully. When joining the webinar for the first time, you will be asked to download the system application on your computer which will take only few seconds.

For more information on webinar service please visit: http://www.nasdaqbaltic.com/en/products-services/webinars-3/
Join the webinar and be the first one to hear the news!

 

JSC Olainfarm is one of the biggest pharmaceutical companies in Latvia with more than 40 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company’s operations is to produce reliable and effective top quality products for Latvia and the rest of the world. Products made by the Group are being exported to more than 40 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

 

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

Nine Months Sales of Olainfarm: 71.9 Million Euros

30/11/2015

Unaudited profit and loss account of JSC Olainfarm for nine months of 2015 shows that with the sales worth 71.9 million euros, the Group has experiences the best nine months in its corporate history. Sales have increased by 3%, while profit has remained almost unchanged, as it has shrunk by 1000 euros and equals 12.105 million euros. Main sales markets of JSC Olainfarm during this period were Russia, Latvia, Ukraine, Belarus and The Netherlands.

3rd quarter of 2015 has in terms of sales been the best third quarter in corporate history, as sales of the Group reached 21.8 million euros, which exceeds the sales made during 3rd quarter of 2014 by more than 2%. During this period the company made a net profit of 2.8 million euros, which represents a reduction by 12% compared to the same period of last year.

 

Condensed Consolidated Statement of Financial Position

Group

30.09.2015

31.12.2014

EUR ’000

EUR ’000

ASSETS
NON-CURRENT ASSETS
Intangible assets

20 063

18 848

Property, plant and equipment

36 501

34 674

Financial assets

4 085

4 234

TOTAL NON-CURRENT ASSETS

60 649

57 756

CURRENT ASSETS
Inventories

20 013

18 693

Receivables

33 023

28 219

Cash

2 489

2 055

TOTAL CURRENT ASSETS

55 525

48 967

TOTAL ASSETS

116 174

106 723

EQUITY AND LIABILITIES
EQUITY
Share capital

19 719

20 041

Share premium

2 504

2 504

Reserves

322

-

Retained earnings

62 591

50 492

Non-controlling interests

28

8

TOTAL EQUITY

85 164

73 045

LIABILITIES
Non-current liabilities
Borrowings

9 761

10 387

Deferred corporate income tax

1 830

1 640

Deferred income

2 706

2 099

Total Non-Current Liabilities

14 297

14 126

Current liabilities
Borrowings

4 957

6 906

Trade payables and other liabilities

11 177

12 227

Deferred income

579

419

Total Current Liabilities

16 713

19 552

TOTAL LIABILITIES

31 010

33 678

TOTAL EQUITY AND LIABILITIES

116 174

106 723

 

Consolidated statement of comprehensive income

Group

Group

Q3 2015

Q3 2014

M9 2015

M9 2014

EUR ’000

EUR ’000

EUR ’000

EUR ’000

Net revenue

21 792

21 328

71 861

69 891

Cost of goods sold

(7 346)

(7 647)

(23 588)

(22 918)

Gross Profit

14 446

13 681

48 273

46 973

Selling expense

(6 732)

(6 466)

(20 284)

(19 617)

Administrative expense

(3 633)

(3 315)

(11 851)

(11 188)

Other operating income

1 159

533

2 487

1 514

Other operating expense

(37)

(870)

(3 739)

(2 871)

Share of profit of an associate

(17)

23

78

116

Financial income

69

42

198

124

Financial expense

(2 226)

(272)

(208)

(1 166)

Profit Before Tax

3 029

3 356

14 954

13 885

Corporate income tax

(185)

(455)

(2 695)

(2 134)

Deferred corporate income tax

(19)

296

(154)

355

PROFIT FOR THE REPORTING PERIOD

2 825

3 197

12 105

12 106

Other comprehensive income for the reporting period

-

-

-

-

Total comprehensive income for the reporting period

2 825

3 197

12 105

12 106

Total comprehensive income attributable to:
The equity holders of the Parent Company

2 823

3 180

12 099

12 106

Non-controlling interests

2

17

6

Basic and diluted earnings per share, EUR 0.20 0.23 0.86 0.86

“Successful operations in Latvia and Lithuania and good cooperation with the World Health Organization’s anti-tuberculosis program are the key driving forces behind these record sales. However, we realize that continuing with such series of records becomes increasingly difficult as new challenges are appearing in several important CIS markets. In addition to economic instability and depreciating local currencies have left a significant impact on purchasing power of local population. In addition to these factors, governments of CIS countries use administrative methods to limit imports of different products, including pharmaceuticals. Therefore we have to continue searching for possibilities to further diversify our sales markets and strengthen our presence there”, says Salvis Lapins, Member of company’s Board.

During nine months of 2015 Company’s sales grew in Latvia (by 9%), The Netherlands (WHO shipments, by 181%), Kazakhstan (by 2%), Lithuania (by 185), and other countries (by 28% on average). Sales have been shrinking to Ukraine (by 15%), Belarus (by 7%), UK (by 9%), Uzbekistan (by 6%) and Russia (by 3%). In total, during this nine months period JSC Olainfarm was selling its products to 41 countries on five continents.

During the 3rd quarter, 5 registration processes have been completed in Azerbaijan, Ukraine and Romania. A food supplement Jogurt Babydrops has been registered in Latvia. Further extension of Gripoflex line has been launched.

Annual meeting of shareholders of JSC Olainfarm held on June 11, 2015 approved operating plan of the Group for 2015. According to it, sales of the Group in 2015 are planned to be 100 million euros, but the net profit will reach 15 million euros. According to this unaudited report for 9 months of 2015, during this period 72% of annual sales target and 81% of annual profit target is met.

JSC Olainfarm UNAUDITED INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS FOR THE 9 MONTHS PERIOD ENDED 30 SEPTEMBER 2015

 

JSC Olainfarm is one of the biggest pharmaceutical companies in Latvia with more than 40 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company’s operations is to produce reliable and effective top quality products for Latvia and the rest of the world. Products made by the Group are being exported to more than 40 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

Information prepared by:

Salvis Lapins
JSC Olainfarm
Member of the Management Board
Rupnicu iela 5, Olaine, Latvia, LV 2114
Phone: +371 6 7013 717
Fax: +371 6 7013 777
E-mail: Salvis.Lapins@olainfarm.lv

 

 

VIVI Line

17/11/2015
Viviline_30caps_3D_FINAL

Marjana Ivanova-Jevsejeva to Become a Board Member of JSC Olainfarm

16/11/2015

Today the Supervisory Council of JSC Olainfarm decided to elect Mrs. Marjana Ivanova – Jevsejeva to be the new Board member of JSC Olainfarm.  This decision will take effect once the respective entry is made into the Commercial Register of Latvian Enterprise Register.  Mrs Inga Liscika is therefore dismissed from the position of a Board member.

Previous positions of Marjana Ivanova – Jevsejeva include Member of Latvian Parliament, Socioeconomics analyst at Fenster publishing house and Project manager at Daugavpils city Council.  Educational background of Mrs. Ivanova – Jevsejeva includes Master degrees of Public Administration and Social sciences from University of Daugavpils and BBA degree of Baltic Russian Institute.

CV of the Newly Elected Board Member of JSC Olainfarm Mrs. Marjana Ivanova – Jevsejeva: CV_Ivanova_Jevsejeva_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 the Group are being exported to more than 40 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

 

Information prepared by:
Salvis Lapins
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 Ten Months Exceed 81 Million Euro

16/11/2015

Preliminary consolidated sales results of JSC Olainfarm for October 2015 show that sales during this months have reached 8.38 million euros, which represents an increase by 1% compared to the same period of 2014. The biggest sales increase was achieved in Ukraine, where sales grew by 9094%. Sales to Switzerland grew by 572%, while sales to Kazakhstan grew by 100%. During October 2015 significant shipments were also made to Brazil. Major sales markets of  JSC Olainfarm during October 2015 were Russia, Latvia, Ukraine, Belarus and Kazakhstan.

October 2015, consolidated sales Share in total sales Changes to October 2014
Russia 26% -41%
Latvia 26% 8%
Ukraine 22% 9094%
Belarus 9% 18%
Kazakhstan 4% 100%
Brazil 2% NA
Poland 1% -22%
Switzerland 1% 572%
Albania 1% 26%
Turkmenistan 1% -21%
Other 7% -59%
Total 100% 1%

Sales of pharmacy chain of Latvijas Aptieka Ltd., fully owned by JSC Olainfarm, were 1.6 million euros in October 2015.  This represents an increase by 8%, compared to October 2014.  59 pharmacies were operating during this period.  Sales of Silvanols Ltd. during October 2015 were 0.39 million euros, which represents a reduction by 3% compared to the same period one year ago.  Silvanols Ltd. sold its products to four European countries directly and to Belarus and Azerbaijan via system of JSC Olainfarm.

According to preliminary consolidated results for ten months of 2015, sales of JSC Olainfarm have reached 81.42 million euros, which represents an increase by 4% compared to the same period of 2014.  The most rapid sales increase was achieved in The Netherlands, where sales grew by 181%.  Major sales markets of JSC Olainfarm during this period were Russia Ukraine, Latvia, Belarus and The Netherlands.

10 months of 2015, consolidated sales Share in total sales Changes to 10 months of 2014
Russia 33% -8%
Ukraine 13% 3%
Latvia 23% 9%
Belarus 7% -5%
The Netherlands 6% 181%
Kazakhstan 3% 12%
UK 2% -7%
Uzbekistan 1% -4%
Tajikistan 1% 28%
Poland 1% -25%
Other 9% 8%
Total 100% 4%

Sales of chain of pharmacies of  Latvijas Aptieka Ltd. during ten months of 2015 were 13.8 million euros, which represents an increase by 10% compared to ten months of 2014.  Sales of Silvanols Ltd. in ten months were 3.3 million euros, this represents an increase by 19% compared to same period of 2014, when it made sales of 2.78 million euros.  During this period Silvanols Ltd. sold its products to 13 countries in two continents, and via system of JSC Olainfarm to Belarus, Azerbaijan and Kazakhstan.

According to preliminary unconsolidated results, sales of JSC Olainfarm during October 2015 were 7.24 million euros, which represents an increase by 7% compared to the same period of 2014. The biggest sales increase was achieved in Poland, where sales grew by 173 513%. Sales to Ukraine grew by 9094%, sales to Switzerland grew by 572%, but sales to Kazakhstan grew by 100%. During this period significant shipments were also made to Brazil.  Major sales markets of JSC Olainfarm during October 2015 were Russia, Ukraine, Latvia, Belarus and Kazakhstan.  During October 2015, JSC Olainfarm sold its products to 24 countries on three continents.

October 2015, unconsolidated sales Share in total sales Changes to October 2014
Russia 30% -41%
Ukraine 25% 9094%
Latvia 15% 5%
Belarus 10% 18%
Kazakhstan 5% 100%
Brazil 2% NA
Poland 2% 173513%
Switzerland 1% 572%
Albania 1% 26%
Turkmenistan 1% -21%
Other 7% -48%
Total 100% 7%

According to preliminary unconsolidated results for ten months of 2015, sales of JSC Olainfarm were 71.49 million euros, which represents an increase by 5% compared to the same period one year ago.   The most rapid sales increase during this period was achieved in The Netherlands, where sales grew by 181%.  Sales to Turkmenistan grew by 35%, sales to Tajikistan and Latvia grew by 28%.  According to preliminary unconsolidated results, major sales markets of JSC Olainfarm in ten months of 2015 were Russia, Ukraine, Latvia, Belarus and The Netherlands. In total during this ten months period products of JSC Olainfarm were sold to 42 countries on five continents.

10 months of 2015, unconsolidated sales Share in total sales Changes to 10 months of 2014
Russia 38% -8%
Ukraine 15% 3%
Latvia 14% 28%
Belarus 8% -5%
The Netherlands 7% 181%
Kazakhstan 3% 12%
UK 2% -7%
Uzbekistan 2% -4%
Tajikistan 1% 28%
Turkmenistan 1% 35%
Other 9% 1%
Total 100% 5%

Annual General Meeting of shareholders of JSC Olainfarm, held on June 11, 2015 approved operating plan of the company, according to which the unconsolidated sales of the company in 2015 will reach 87 million euros, while consolidated sales will reach 100 million euro.  According to these preliminary sales figures, in ten months of 2015, the company has attained 82% of annual target for unconsolidated sales and 81% of annual target for consolidated sales.

 

JSC Olainfarm is one of the biggest pharmaceutical companies in Latvia with more than 40 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company’s operations is to produce reliable and effective top quality products for Latvia and the rest of the world. Products made by the Group are being exported to more than 40 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

Information prepared by:

Salvis Lapins
JSC Olainfarm
Member of the Management Board
Rupnicu iela 5, Olaine, Latvia, LV 2114
Phone: +371 6 7013 717
Fax: +371 6 7013 777
E-mail: Salvis.Lapins@olainfarm.lv

 

Olainfarm Recognised as the Best Employer in the Region of Riga

13/11/2015

Yesterday, on 12 November, at the Annual Award ceremony of the Employer’s Confederation of Latvia (ECL), where the best employers and supporting bodies in Latvia were honoured, JSC Olainfarm received the award as the best employer in the region of Riga. It was presented to the Member of the Board of JSC Olainfarm Jeļena Borcova by the Director General of the ECL Līga Meņģelsone and the member of the Council of the ECL, the Chairman of the Board and the Chief Executive Officer of Lattelecom Ltd. Juris Gulbis.

In his address to the ECL Annual Award winners, the President of the State Raimonds Vējonis said: “The work is the link uniting employers, employees, and the State. It is an important skill to perform work, but bigger yet — to create work. You need knowledge, initiative, courage and boldness.

We in Latvia can be proud with you — daring, talented, skilful people, whose knowledge, experience, and endeavours, in building strong companies, help creating jobs. This contributes immensely to our economy and recognisability of our country the world over.”

ECL adds that the award was given to JSC Olainfarm because the company can not only develop new medicines and conquer new markets across the globe, but also truly thoughtfully care for its employees and the future of the region.

Olainfarm to Go on Baltic – Nordic Roadshow

23/10/2015

From October 26-30 Member of the Board of JSC Olainfarm and company’s Investor Relations Officer Salvis Lapins will go on Roadshow to inform investors and shareholders of Baltic and Nordic region about company’s performance, important issues and future intentions.

„Late October Baltic – Nordic roadshows are turning into annual tradition. During meetings, we reflect of results and discuss our plans for the future. We highly value these meetings, and I believe, both, us and investors are looking forward to them as direct contact allows us to better convey our message and better feel the sentiment among investors,” says Salvis Lapins, Member of the Board and Investor Relations Officer.

On October 26 meetings will take place in Tallinn, on October 27th in Helsinki, on October 28th in Stockholm, and on October 29 and 30 in Vilnius. In total about 20 meetings will be held, during which the enclosed presentation will be discussed: Baltic – Nordic Roadshow Presentation

 

JSC Olainfarm is one of the biggest pharmaceutical companies in Latvia with more than 40 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company’s operations is to produce reliable and effective top quality products for Latvia and the rest of the world. Products made by the Group are being exported to more than 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 Nine Months Reaches 73 Million Euro

15/10/2015

Preliminary consolidated results of AS Olainfarm for September, 2015 show that sales of the company during this period has reached 8.03 million euro, which represents a reduction by 5% compared to the same period of 2014.  The biggest sales increases were achieved in Ukraine, where sales grew by 77% and Uzbekistan, where sales grew by 60%. Significant shipments have also been made to Germany and Australia.  The major sales markets of AS “Olainfarm” during September were Russia, Latvia, Ukraine, Belarus, The Netherlands and Poland.

 

September 2015, consolidated sales Share in total sales Changes to September 2014
Russia 28% -27%
Latvia 26% 5%
Ukraine 15% 77%
Belarus 6% -9%
The Netherlands 5% 21%
Poland 5% 8%
Uzbekistan 3% 60%
Germany 2% NA
Lithuania 2% 13%
Australia 2% NA
Other 8% -51%
Total 100% -5%

 

Sales of pharmacy chain of SIA Latvijas aptieka, fully owned by AS Olainfarm were 1.43 million euros, which represents an increase by 8% compared to the same period of 2014; 57 pharmacies were operating during September.  Sales of SIA Silvanols during September were 0.54 million euro, and this represents an increase by 15% compared to 2014.  Silvanols was selling its products in six European countries directly.  Sales to Kazakhstan were made via Olainfarm.

 

According to preliminary consolidated results for nine months of 2015, sales of AS Olainfarm during this period were 73.03 million euro, which represents an increase by 4% compared to nine months of 2014.  The most rapid sales increases in nine months were achieved in The Netherlands, where sales grew by 181%.  Major sales markets of AS Olainfarm in nine months of 2015 were Russia, Latvia, Ukraine, Belarus and The Netherlands.

 

9 months of 2015, consolidated sales Share in total sales Changes to nine months of 2014
Russia 34% -3%
Latvia 23% 9%
Ukraine 12% -15%
Belarus 7% -7%
The Netherlands 7% 181%
Kazakhstan 2% 2%
UK 2% -9%
Uzbekistan 1% -6%
Poland 1% -32%
Lithuania 1% 18%
Other 9% 28%
Total 100% 4%

 

Sales of pharmacies of SIA Latvijas Aptieka in nine months of 2105 were 12.2 million euro, which represents an increase by 10% compared to the same period of 2014.  Sales of SIA Silvanols in nine months of 2015 were 2.9 million euro, which is an increase by 22% compared to 2014. SIA Silvanols during this period made sales in 13 countries on two continents.  Sales to Kazakhstan and Azerbaijan were made via AS Olainfarm.

 

According to preliminary unconsolidated results, sales of AS Olainfarm during September 2015 were 6.87 million euro, which represents a reduction by 6% compared to the same period of 2014.  The biggest sales increases were achieved in Ukraine, where sales grew by 77%, Uzbekistan, where sales grew by 60%, and Lithuania, where sales grew by 24%.  During this month, significant shipments have also been made to Germany and Australia. Major sales markets of AS Olainfarm in September 2015 were Russia, Ukraine, Latvia, Belarus and The Netherlands.  During September 2015, products of AS Olainfarm were sold in 24 countries on five continents.

 

September 2015, unconsolidated sales Share in total sales Changes to September 2014
Russia 33% -27%
Ukraine 17% 77%
Latvia 17% 21%
Belarus 7% -9%
The Netherlands 6% 21%
Poland 4% -20%
Uzbekistan 3% 60%
Germany 2% NA
Lithuania 2% 24%
Australia 2% NA
Other 8% -53%
Total 100% -6%

 

According to preliminary unconsolidated results for nine months of 2015, sales of AS Olainfarm during this period were 64.24 million euro, which represents an increase by 5% compared to the same period of 2014.  The most rapid sales increases were achieved in The Netherlands, where sales grew by 181%, sales to Turkmenistan grew by 48%, sales to Tajikistan grew by 36%, and sales to Latvia grew by 31%.  Major sales markets of AS Olainfarm in none months of 2015 were Russia, Latvia, Ukraine, Belarus and The Netherlands.  In total in nine months AS Olainfarm made sales in 41 countries on five continents.

 

9 months of 2015, unconsolidated sales Share in total sales Changes to 9 months of 2014
Russia 38% -3%
Latvia 14% 31%
Ukraine 14% -15%
Belarus 8% -7%
The Netherlands 8% 181%
Kazakhstan 3% 2%
UK 2% -9%
Uzbekistan 2% -6%
Tajikistan 1% 36%
Turkmenistan 1% 48%
Other 9% 4%
Total 100% 5%

 

 

Annual General Meeting of shareholders of JSC Olainfarm, held on June 11, 2015 approved operating plan of the company, according to which the unconsolidated sales of the company in 2015 will reach 87 million euros, while consolidated sales will reach 100 million euro.  According to these preliminary sales figures, in nine months of 2015, the company has attained 74% of annual target for unconsolidated sales and 73% 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

Meet Olainfarm at the CPhI Worldwide 2015 in Madrid at Hall 10 Stand 10F70

18/09/2015

We are pleased to invite you to visit our stand 10F70 at Hall 10 at the CPhI 2015 in Madrid, 13-15 October 2015.

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 40 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.

If you need any assistance or information, please feel free to contact us.

 

Kind regards,

Elena Vasilevskaya

evasilevskaja@olainfarm.lv (APIs & Intermediates)

 

Veranika Dubitskaya

vdubitskaya@olainfarm.lv (marketing, in-licensing)

 

Vilnis Liepins

vliepins@olainfarm.lv (R&D APIs &Intermediates)

 

Kristina Rizhanova

krizhanova@olainfarm.lv (R&D FFs, clinical trial)

 

Ieva Bela

ieva.bela@olainfarm.lv (out-licensing)

 

Liva Pildava

liva.pildava@silvanols.lv (Silvanols)

 

Eight Months Sales of Olainfarm Increase by 5%

15/09/2015

Preliminary consolidated sales figures of JSC Olainfarm for August 2015 show that sales of the company have reached 6.67 million euros, which is nearly the same amount as in August 2014.  The biggest sales increases were achieved in India, where sales grew by 766%.  Sales to Turkmenistan grew by 204%, sales to The Netherlands by 135%, while sales to Lithuania by 114%. Significant shipments during this period were also made to Uzbekistan.  Major sales markets of JSC Olainfarm during August of 2015 were Russia, Latvia, Belarus, Ukraine and The Netherlands.

August 2015, consolidated sales Share in total sales Changes to August 2014
Russia 39% 13%
Latvia 24% 12%
Belarus 13% 18%
Ukraine 5% -72%
The Netherlands 5% 135%
Turkmenistan 3% 204%
Kazakhstan 2% -40%
Uzbekistan 2% NA
India 2% 766%
Lithuania 1% 114%
Other 3% -49%
Total 100% 0%

Sales of pharmacy chain of Latvijas aptieka Ltd. during August 2105 were 1.25 million euros, which represents an increase by 10% compared to the same period one year ago.  58 pharmacies were operating during this period. Sales of Silvanols Ltd. during this period were 0.23 million euros, which represents an increase by 64% compared to August 2014. Silvanols Ltd. made its sales in seven European countries.

According to preliminary consolidated figures, sales of JSC Olainfarm in eight months of this year were 64.97 million euros, which represents a 5% increase compared to eight months of 2014. The most rapid sales increase during this period was achieved in The Netherlands, where sales increased by 218%, and in Tajikistan, where sales grew by 70%.  Major sales markets of JSC Olainfarm in eight months of 2015 were Russia, Latvia, Ukraine, Belarus and The Netherlands.

Eight months of 2015, consolidated sales Share in total sales Changes to eight months of 2014
Russia 34% 0%
Latvia 22% 9%
Ukraine 12% -21%
Belarus 7% -7%
The Netherlands 7% 218%
Kazakhstan 3% 17%
UK 2% -9%
Tajikistan 1% 70%
Uzbekistan 1% -15%
Lithuania 1% 19%
Other 9% 17%
Total 100% 5%

Sales of pharmacy chain of Latvijas aptieka Ltd. in eight months were 10.8 milion euros, which represents an increase by 11%compared to the same period one year ago. Sales of Silvanols Ltd. in eight months totaled 2.4 million euros, which represents an increase by 26% compared to eight months of 2014, when Silvanols made sales worth 1.9 million euros. Silvanols Ltd. made its sales in 12 countries on two continents.

According to preliminary unconsolidated results, sales of JSC Olainfarm in August 2015 were 5.84 million euros, which is an increase by 1% compared to the same period one year ago.  The biggest sales increase was achieved in India, where sales increased by 766%.  Sales to Lithuania increased by 233%, Sales to Turkmenistan grew by 204%, but sales to The Netherlands grew by 135%.   During August 2015, significant shipments were also made to Uzbekistan. Major sales markets of JSC Olainfarm in August 2015 were Russia, Latvia, Belarus, Ukraine and The Netherlands. During August 2015, JSC Olainfarm made sales in 16 countries in Europe, Asia and North America.

August 2015, unconsolidated sales Share in total sales Changes to August 2014
Russia 45% 13%
Latvia 15% 32%
Belarus 15% 18%
Ukraine 6% -72%
The Netherlands 5% 135%
Turkmenistan 3% 204%
Kazakhstan 3% -40%
Uzbekistan 2% NA
India 2% 766%
Lithuania 2% 233%
Other 2% -63%
Total 100% 1%

According to preliminary unconsolidated results, sales of JSC Olainfarm in eight months of 2015 were 57.36 million euros, which represents an increase by 7% compared to similar period of 2014.  The most rapid sales increase was achieved in The Netherlands, where sales grew by 218%.  Sales to Tajikistan grew by 70%, but sales to Latvia grew by 32%.  According to preliminary unconsolidated results, the major sales markets of JSC Olainfarm in eight months of 2015 were Russia, Latvia, Ukraine, Belarus and The Netherlands.  In total during eight months JSC Olainfarm made its sales in 38 countries in Europe, Asia, The Americas and Australia..

Eight months of 2015, unconsolidated results Share in total sales Changes to 8 months of 2014
Russia 39% 0%
Latvia 14% 32%
Ukraine 13% -21%
Belarus 8% -7%
The Netherlands 8% 218%
Kazakhstan 3% 17%
UK 3% -9%
Tajikistan 2% 70%
Uzbekistan 1% -15%
Lithuania 1% 9%
Other 8% 12%
Total 100% 7%

Annual General Meeting of shareholders of JSC Olainfarm, held on June 11, 2015 approved operating plan of the company, according to which the unconsolidated sales of the Company in 2015 will reach 87 million euros, while consolidated sales will reach 100 million euro.  According to these preliminary sales figures, in eight months of 2015, the Company has attained 66% of annual target for unconsolidated sales and 65% 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

 

Second Quarter 2015 Investor Conference Webinar

08/09/2015

On September 8 JSC Olainfarm organized its second quarter 2015 Investor Conference Online Webinar. During the webinar the member of the management board of JSC Olainfarm Salvis Lapiņš analyzed the financial results of second quarter 2015 and informed about the company’s future activities, this time paying extra attention to pharmacy chain Latvijas aptieka Ltd. owned by JSC Olainfarm.

The recorded Olainfarm webinar is available online: ej.uz/OLF_2Q2015_video, and the presentation, demonstrated during the webinar, can be found in the previously published company’s announcement: https://newsclient.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=675418&messageId=841985.

 

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 Second Quarter 2015 Investor Conference Webinar

08/09/2015

JSC Olainfarm invites shareholders, investors, mass media representatives and other stakeholders to join its second quarter 2015 investor conference webinar scheduled on September 8, 2015 at 16:00 (EETWebinar will be hosted by the Member of the Management Board Salvis Lapiņš. The presentation will be held in English.

During the webinar Salvis Lapiņš informs about JSC Olainfarm latest activities and analyze the non-audited financial results of the second quarter 2015. The enclosed presentation will be presented during the webinar: Webinar Presentation: 2nd Quarter and 6 Months of 2015

 

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

How to join the webinar?
All you need is a computer with internet connection and headphones.

To join the webinar, we invite you to register via ej.uz/OLF_2Q2015.

You will be provided with the webinar link and instructions to join webinar successfully. When joining the webinar for the first time, you will be asked to download the system application on your computer which will take only few seconds.

For more information on webinar service please visit: http://www.nasdaqbaltic.com/en/products-services/webinars-3/

 

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

 

Olainfarm will hold Second Quarter 2015 Investor Conference Webinar

04/09/2015

JSC Olainfarm invites shareholders, investors, mass media representatives and other stakeholders to join its second quarter 2015 investor conference webinar scheduled on September 8, 2015 at 16:00 (EET). Please note that attendees have to register for the webinar – detailed information on the registration process is available below.

Webinar will be hosted by the Member of the Management Board Salvis Lapiņš. The presentation will be held in English.

During the webinar Salvis Lapiņš will inform about JSC Olainfarm latest activities and analyze the non-audited financial results of the second quarter 2015.

After the presentation investors are welcome to ask questions. Due to the limited webinar time, please send in your questions in advance till September 7 to e-mail: ieva.kadakovska@nasdaq.com or Investors’ portal naudaslietas.lv.

 

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

How to join the webinar?
All you need is a computer with internet connection and headphones.

To join the webinar, we invite you to register via ej.uz/OLF_2Q2015.

You will be provided with the webinar link and instructions to join webinar successfully. When joining the webinar for the first time, you will be asked to download the system application on your computer which will take only few seconds.

For more information on webinar service please visit: http://www.nasdaqbaltic.com/en/products-services/webinars-3/
Join the webinar and be the first one to hear the news!

 

Profit of Olainfarm in Six Months Reaches 9.3 Million Euros

31/08/2015

Unaudited profit and loss account of JSC Olainfarm for six months of 2015 shows that the Group has made a net profit of 9.3 million euros, while sales reached 50 million euros. Net profit has increased by 4%, while the sales have increased by 3%, compared to the same period of 2014, making this the best first six months in corporate history so far, both in terms of sales and in terms of profit. The major sales markets of JSC Olainfarm during this period were Russia, Latvia, Ukraine, The Netherlands and Belarus.

„Taking into consideration the geopolitical reality, a further diversification of sales markets increasingly is a priority. During 2015 and subsequent years company plans to continue all efforts targeted at implementation of new products, entering new markets, making a little more emphasis on cooperation with other producers in distribution of their products on CIS and other markets. After the end of the reporting period, the exports were commenced to Mongolia, registration processes in Turkey and other countries are successfully continuing. More attention is being paid to possible acquisition of a company, whose sales markets or products are significantly different ours, which would help us expand our sales geography,” says Valerijs Maligins, Chairman of the Board.

During the six months period the company has made provisions of more than 1.5 million euros for receivables and currency risks.

During the first half of 2015 Company’s sales grew in Russia, Latvia, The Netherlands, where the anti-tuberculosis products is shipped for the needs of the World Health Organization (WHO), Kazakhstan, Tajikistan, Lithuania and other markets, while in Ukraine, Belarus, UK and Uzbekistan they shrunk. In general, the sales split between countries has remained relatively unchanged, and reduction of Russia’s share from 37% to 34% is really the only significant development.  In total, during six months of 2015, JSC Olainfarm was selling its products to 37 countries on five continents.

During the reporting registration processes have been launched in Bosnia And Herzegovina; Vietnam, Myanmar; GMP audit by Turkish authorities has been passed, allowing the company to proceed with registration in Turkey.. New forms have been developed for Gripoflex 325 (with reduced content of paracetamol), ACC 200mg powder, and lactose free Memantine tablets of 10mg and 20mg. The work continues at development of new combined prolonged activity form of nitrofurantoin. Two new food supplements have been developed and registered in Baltic countries with urological and hepatological application.

Annual meeting of shareholders of  JSC Olainfarm held on June 11, 2015 approved operating plan of the Group for 2015.  According to it, sales of the Group in 2015 are planned to be 100 million euros, but the net profit will reach 15 million euros.  According to this unaudited report for 1st half of 2015, during the first six months 50% of annual sales target and 62% of annual profit target is met.

 

Condensed Consolidated Statement of  Financial Position

Group

30.06.2015

31.12.2014

EUR ’000

EUR ’000

     ASSETS
NON-CURRENT ASSETS
Intangible assets

          19 876

          18 848

Property, plant and equipment

          36 645

          34 674

Financial assets

            4 122

            4 234

TOTAL NON-CURRENT ASSETS

          60 643

          57 756

CURRENT ASSETS
Inventories

          19 666

          18 693

Receivables

          33 148

          28 219

Cash

            1 854

            2 055

TOTAL CURRENT ASSETS

          54 668

          48 967

TOTAL ASSETS

        115 311

        106 723

           EQUITY AND LIABILITIES
EQUITY
Share capital

          19 719

          20 041

Share premium

            2 504

            2 504

Reserves

               322

                    -

Retained earnings

          59 768

          50 492

Non-controlling interests

                 12

                   8

TOTAL EQUITY

          82 325

          73 045

LIABILITIES
Non-current liabilities
Borrowings

            8 453

          10 387

Deferred corporate income tax

            1 811

            1 640

Deferred income

            2 722

            2 099

Total Non-Current Liabilities

          12 986

          14 126

Current liabilities
Borrowings

            6 973

            6 906

Trade payables and other liabilities

          12 452

          12 227

Deferred income

               575

               419

Total Current Liabilities

          20 000

          19 552

TOTAL LIABILITIES

          32 986

          33 678

TOTAL EQUITY AND LIABILITIES

        115 311

        106 723

 

Consolidated statement of comprehensive income

Group

Group

Q2 2015

Q2 2014

6M 2015

6M 2014

EUR ’000

EUR ’000

EUR ’000

EUR ’000

Net revenue

       23 045

       25 249

       50 069

       48 563

Cost of goods sold

        (8 052)

        (7 684)

      (16 242)

      (15 271)

Gross Profit

       14 993

       17 565

       33 827

       33 292

Selling expense

        (6 433)

        (6 689)

      (13 552)

      (13 151)

Administrative expense

        (4 092)

        (3 880)

        (8 218)

        (7 873)

Other operating income

            736

            484

         1 328

            981

Other operating expense

        (2 076)

        (1 587)

        (3 702)

        (2 001)

Share of profit of an associate

              23

              71

              95

              93

Financial income

            268

            156

         2 258

              82

Financial expense

             (55)

             (74)

           (111)

           (894)

Profit Before Tax

         3 364

         6 046

       11 925

       10 529

Corporate income tax

           (738)

           (996)

        (2 510)

        (1 679)

Deferred corporate income tax

             (21)

            182

           (135)

              59

PROFIT FOR THE REPORTING PERIOD

         2 605

         5 232

         9 280

         8 909

Other comprehensive income for the reporting period

                 -

                 -

                 -

                 -

Total comprehensive income for the reporting period

         2 605

         5 232

         9 280

         8 909

Total comprehensive income attributable to:
The equity holders of the Parent Company

         2 605

         5 272

         9 276

         8 926

Non-controlling interests

                -

            (40)

                4

            (17)

Basic and diluted earnings per share, EUR            0.18            0.37            0.66            0.63

 

JSC Olainfarm unaudited interim condensed consolidated financial statements for the 6 months period ended 30 June 2015

 


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 July increase by 19%

17/08/2015

Preliminary consolidated sales figures of AS Olainfarm for July 2015 show that sales have reached 7.44 million euros, which represents an increase by 19% compared to the same period one year ago. The biggest sales increase was achieved in Belarus, where sales grew by 850%, while sales to Poland grew by 407%, sales to Tajikistan grew by 364%, sales to Kazakhstan grew by 215% and sales to Ukraine grew by 96%. During July 2015, significant shipments were also made to The Netherlands and Uzbekistan. Major sales markets of AS Olainfarm during July were Russia, Latvia and Ukraine.

July 2015, consolidated sales Share in total sales Changes to July 2014
Russia 33% -29%
Latvia 22% 4%
Ukraine 16% 96%
Belarus 6% 850%
Kazakhstan 4% 215%
The Netherlands 3% NA
Tajikistan 3% 364%
Uzbekistan 3% NA
Poland 2% 407%
Turkmenistan 1% -13%
Other 8% 78%
Total 100% 19%

 

Sales of pharmacy chain of SIA Latvijas aptieka in July 2015 were 1.3 million euro, which represents an increase by 11% compared to July 2014. During July 2015 58 pharmacies were operating. Sales of SIA Silvanols during July 2015 were 0.16 million euros, which represents an increase by 33% compared to the same period of 2014. During July, SIA Silvanols sold its products in four European countries.

 

According to preliminary figures, in seven months of 2015 sales of AS Olainfarm reached 58.32 million euros, which represents an increase by 6% compared to the same period of 2014. The most rapid sales increases during this period were achieved in The Netherlands , where sales increased by 227%, while sales to Tajikistan increased by 75% and sales to Kazakhstan increased by 31%. The major sales markets of AS Olainfarm in seven months of 2015 were Russia, Latvian, Ukraine, The Netherlands and Belarus.

 

7 months of 2015, consolidated sales Share in total sales Changes to 7 months of 2014
Russia 34% -1%
Latvia 22% 9%
Ukraine 12% -13%
The Netherlands 7% 227%
Belarus 7% -12%
UK 3% -10%
Kazakhstan 3% 31%
Tajikistan 2% 75%
Uzbekistan 1% -28%
Lithuania 1% 11%
Other 9% 18%
Total 100% 6%

 

In seven months of 2015 the sales of pharmacy chain of SIA “Latvijas aptieka” was 9.5 million euro, which represents an increase by 11% compared to the same period one year ago. Sales of SIA Silvanols in seven months of 2015 were 2.2 million euros, which represents an increase by 33% compared to seven months of 2014, where its sales were 1.65 million euro. During seven months, products of SIA Silvanols were sold to 11 countries on two continents.

 

According to preliminary unconsolidated results, sales of AS Olainfarm during July 2015 were 6.66 million euros, which represents an increase by 22% compared to the same period of 2014. The major sales increase was achieved in Belarus, where sales grew by 850%, while sales to Tajikistan grew by 364%, sales to Kazakhstan by 215% and sales to Ukraine by 96%. Significant shipments during this period have also been made to The Netherlands, Uzbekistan and Poland. Major sales markets of AS Olainfarm during July 2015 were Russia, Ukraine and Latvia. During July 2015, products of AS Olainfarm were sold in 24 countries on three continents.

 

July 2015, unconsolidated sales Share in total sales Changes to July 2014
Russia 37% -29%
Ukraine 18% 96%
Latvia 14% 12%
Belarus 6% 850%
Kazakhstan 4% 215%
The Netherlands 4% NA
Tajikistan 3% 364%
Uzbekistan 3% NA
Poland 2% NA
Turkmenistan 1% -13%
Other 8% 71%
Total 100% 22%

 

According to preliminary unconsolidated results in seven months of 2015 AS Olainfarm has made sales worth 51.52 million euros, which represents an increase by 7% compared to the same period of 2014. The most rapid sales increase was achieved in The Netherlands, where sales grew by 227%, while sales to Tajikistan grew by 75%, sales to Latvia by 32% and sales to Kazakhstan by 31%. The major sales markets of AS Olainfarm seven months of 2015 were Russia, Ukraine, Latvia, The Netherlands and Belarus. In total during seven months of 2015 products of AS Olainfarm were sold to 38 countries on five continents.

 

7 months of 2015, unconsolidated sales Share in total sales Changes to 7 months of 2014
Russia 38% -1%
Ukraine 14% -13%
Latvia 14% 32%
The Netherlands 8% 227%
Belarus 7% -12%
UK 3% -10%
Kazakhstan 3% 31%
Tajikistan 2% 75%
Uzbekistan 1% -28%
Turkmenistan 1% 25%
Other 8% 8%
Total 100% 7%

 

Annual General Meeting of shareholders of JSC Olainfarm, held on June 11, 2015 approved operating plan of the company, according to which the unconsolidated sales of the Company in 2015 will reach 87 million euros, while consolidated sales will reach 100 million euro. According to these preliminary sales figures, in seven months of 2015, the Company has attained 59% of annual target for unconsolidated sales and 58% 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 Grow By 24% in January

21/07/2015

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.

 

 

June Sales of Olainfarm Increase by 37%

15/07/2015

 Preliminary consolidated sales results of JSC Olainfarm for June 2015 show that sales have reached 7.17 million euros, which represents an increase by 37% compared to the same period one year ago. The biggest sales increases were achieved in Georgia, where sales grew by 3346% and in Ukraine, where sales grew by 431%. Sales to Turkmenistan grew by 76%, but sales to Tajikistan grew by 71%. Significant shipments have also been made to UK and Germany. Biggest sales markets of JSC Olainfarm during June 2015 were Russia, Latvia, Ukraine, UK and Belarus.

June 2015, consolidated sales Share in total sales Changes to June 2014
Russia 25% 31%
Latvia 23% 11%
Ukraine 17% 431%
UK 9% NA
Belarus 6% -36%
Tajikistan 3% 71%
Germany 2% NA
Georgia 2% 3346%
Turkmenistan 2% 76%
Kazakhstan 1% -67%
Other 10% -26%
Total 100% 37%

Sales of pharmacy chain of Latvijas aptieka Ltd. fully owned by JSC Olainfarm were 1.32 million euros, which represents an increase by 16% compared to the same period of 2014.  Fifty-eight pharmacies were operating during this period.  Sales of Silvanols Ltd. in June 2015 were 0.38 million euros, which represents an increase by 65%, compared to sales made in June 2014. During May Silvanols Ltd. was selling its products to nine European countries.

In six months of 2015, according to preliminary consolidated results, sales of JSC Olainfarm were 51.05 million euros, which represents an increase by 5% compared to the same period of 2014.  The most rapid sales increases in this period were achieved in The Netherlands, where sales grew by 209%, sales to Tajikistan grew by 46%. The biggest sales markets of JSC Olainfarm during the first six months of 2015 were Russia, Latvia, Ukraine, The Netherlands and Belarus.

6 months of 2015, consolidated sales Share in total sales Changes to 6 months of 2014
Russia 34% 5%
Latvia 22% 10%
Ukraine 12% -20%
The Netherlands 8% 209%
Belarus 7% -20%
UK 3% -10%
Kazakhstan 2% 15%
Tajikistan 1% 46%
Uzbekistan 1% -49%
Lithuania 1% 7%
Other 9% 12%
Total 100% 5%

Sales of pharmacy chain of Latvijas aptieka Ltd. in six months were 8.24 million euros, which represents an 11% increase compared to six months of 2014. Sales of Silvanols Ltd. in six months of 2015 were 2 million euros, which means an increase by 31% compared to six months of 2014, when Silvanols Ltd. made sales of 1.523 million euros. In six months of 2015, Silvanols Ltd. made sales to 11 countries on two continents.

According to unconsolidated sales results of JSC Olainfarm, sales of the company in June 2015 were 6.17 million euro, which represents an increase by 42% compared to the same period one year ago. The biggest sales increases were achieved in Georgia, where sales grew by 2539% and in Ukraine, where sales grew by 431%. Sales to Turkmenistan grew by 76%, but sales to Tajikistan grew by 71%. Significant shipments were also made to UK and Germany. The major sales markets of JSC Olainfarm in June 2015 were Russia, Ukraine, Latvia, UK and Belarus. In total during June 2015, JSC Olainfarm sold its products in 21 countries on three continents.

June 2015, unconsolidated sales Share in total sales Changes to June 2014
Russia 29% 31%
Ukraine 20% 431%
Latvia 15% 32%
UK 11% NA
Belarus 7% -36%
Tajikistan 4% 71%
Germany 2% NA
Turkmenistan 2% 76%
Kazakhstan 2% -67%
Georgia 2% 2539%
Other 8% -42%
Total 100% 42%

In six months of 2015, according to preliminary unconsolidated results, the sales of JSC Olainfarm were 45.02 million euros, which represents an increase by 6% compared to the respective period of 2014. The most rapid sale increases were achieved in The Netherlands, Kyrgyzstan, Tajikistan and Latvia, where sales respectively grew by 209%, 60%, 46% and 36%. According to preliminary unconsolidated sales results, the major sales markets of JSC Olainfarm in six months of 2015 were Russia, Ukraine, Latvia, the Netherlands and Belarus. In total in six months of 2015, JSC Olainfarm sold its products in 37 countries on five continents.  

6 months of 2015, unconsolidated sales Share in total sales Changes to 6 months of 2014
Russia 38% 5%
Ukraine 14% -20%
Latvia 14% 36%
The Netherlands 9% 209%
Belarus 8% -20%
UK 3% -10%
Kazakhstan 3% 15%
Tajikistan 1% 46%
Uzbekistan 1% -49%
Kirgizstan 1% 60%
Other 8% -2%
Total 100% 6%

Annual General Meeting of shareholders of JSC Olainfarm, held on June 11, 2015 approved operating plan of the company, according to which the unconsolidated sales of the Company in 2015 will reach 87 million euros, while consolidated sales will reach 100 million euro.  According to these preliminary sales figures, in six months of 2015, the Company has attained 52% of annual target for unconsolidated sales and 51% 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 May Reach 7.11 Million Euro

15/06/2015

Preliminary consolidated sales results of JSC Olainfarm for May 2015 show that sales have reached 7.11 million euro, which represents a reduction by a third comparing to the same period one year ago.  The biggest sales increases were achieved in Moldova, where sales grew by 651% and in The Netherlands, where sales grew by 500%.  During May 2015, JSC Olainfarm also made significant shipments to Switzerland. Biggest sales markets of JSC Olainfarm during May 2015 were Russia, The Netherlands, Latvia, Ukraine and Belarus.

May 2015, consolidated sales Share in total sales Changes to May 2014
Russia 27% -31%
The Netherlands 15% 500%
Latvia 24% 11%
Ukraine 9% -79%
Belarus 7% -12%
Kazakhstan 3% 33%
Poland 3% -26%
Uzbekistan 2% -69%
Switzerland 2% NA
Moldova 1% 651%
Other 7% -69%
Total 100% -33%

Sales of pharmacy chain of Latvijas aptieka Ltd. fully owned by JSC Olainfarm were 1.3 million euros, which represents an increase by 9% compared to the same period of 2014.  Fifty-eight pharmacies were operating during this period.  Sales of Silvanols Ltd. in May 2015 were 0.2 million euro, which represents an increase by 43%, compared to sales made in May 2014.   During May Silvanols Ltd. was selling its products to five European countries.

In five months of 2015, according to preliminary consolidated results, sales of JSC Olainfarm were 43.82 million euros, which represents an increase by 1% compared to the same period of 2014.  The most rapid sales increases during this period were achieved in The Netherlands, where sales grew by 251%, sales to Kyrgyzstan grew by 88%, sales to Kazakhstan grew by 53%, but sales to Tajikistan grew by 36%.  The biggest sales markets of JSC Olainfarm in five months of 2015 were Russia, Latvia, Ukraine, The Netherlands and Belarus.

5 months of 2015, consolidated sales Share in total sales Changes to 5 months of 2014
Russia 36% 2%
Latvia 22% 9%
Ukraine 11% -33%
The Netherlands 9% 251%
Belarus 7% -17%
Kazakhstan 2% 53%
UK 2% -50%
Uzbekistan 1% -49%
Kyrgyzstan 1% 88%
Tajikistan 1% 36%
Other 8% 8%
Total 100% 1%

Sales of pharmacy chain of Latvijas Aptieka Ltd. in five months were 6.9 million euros, which represents a 10% increase compared to 5 months of 2014.  Sales of Silvanols Ltd. in five months of 2105 were 1.6 million euros, which means an increase by 23% compared to five months of 2014, when Silvanols Ltd. made sales of 1.3 million euro. In five months of 2015, Silvanols Ltd. made sales to 11 countries on two continents.

According to unconsolidated sales results of JSC Olainfarm, sales of the company in May 2015 were 6.24 million euro, which represents a reduction by 36% compared to the same period one year ago.  The biggest sales increases were achieved in Moldova, where sales grew by 651% and in The Netherlands, where sales grew by 500%.  Significant shipments were also made to Switzerland.  The major sales markets of JSC Olainfarm in May 2015 were Russia, The Netherlands, Latvia, Ukraine and Belarus.  In total during May 2015, JSC Olainfarm sold its products in 25 countries on four continents.

May 2015, unconsolidated sales Share in total sales Changes to May, 2014
Russia 31% -31%
The Netherlands 17% 500%
Latvia 15% 28%
Ukraine 11% -79%
Belarus 8% -12%
Kazakhstan 3% 33%
Poland 3% -35%
Uzbekistan 2% -69%
Switzerland 2% NA
Moldova 1% 651%
Other 7% -72%
Total 100% -36%

In five months of 2015, according to preliminary unconsolidated results the sales of JSC Olainfarm were 38.8 million euro, which represents an increase by 2% compared to the respective period of 2014. The most rapid sale increases were achieved in The Netherlands, Kyrgyzstan, Kazakhstan, Tajikistan and Latvia, where sales respectively grew by 251%, 88%, 53%, 36% and 35%.  According to preliminary unconsolidated sales results, the major sales markets of JSC Olainfarm in five months of 2015 were Russia, Latvia, Ukraine, The Netherlands and Belarus. In total in five months of 2015, JSC Olainfarm sold its products in 36 countries on five continents.

5 months of 2015, unconsolidated sales Share in total sales Changes to 5 months of 2014
Russia 40% 2%
Latvia 13% 35%
Ukraine 13% -33%
The Netherlands 10% 251%
Belarus 8% -17%
Kazakhstan 3% 53%
UK 2% -50%
Uzbekistan 1% -49%
Kyrgyzstan 1% 88%
Tajikistan 1% 36%
Other 7% -4%
Total 100% 2%

Annual General Meeting of shareholders of JSC Olainfarm, held on June 11, 2015 approved operating plan of the company, according to which the unconsolidated sales of the Company in 2015 will reach 87 million euros, while consolidated sales will reach 100 million euro.  According to these preliminary sales figures, in five months of 2015, the Company has attained 45% of annual target for unconsolidated sales and 44% 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

 

 

Decisions Adopted by the Annual General Meeting of Shareholders

11/06/2015

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

 

1. Report of the Board on results of operations in 2014.

To take notice of the Report of the Board on results of operations in year 2014.

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

 

2. Report of the Council on results of operations in 2014.

To take notice of the Report of the Council on results of operations in year 2014.

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

 

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 JSC Olainfarm Consolidated and Parent company’s Annual report for year 2014.

To approve JSC Olainfarm Consolidated and Parent mother company’s Annual report for year 2014.

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

 

5. Distribution of profit of 2014.

To reinvest the profit of JSC Olainfarm for year 2014 in amount of  EUR 11 424 000.00 (eleven million four hundred twenty four thousand euro, 00 cents) in the development of JSC Olainfarm.

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

 

6.Report of the Management Board about the budget and operational plan for 2015.

To take notice of Report of the Board on budget and operational plan for 2015, which include Company’s unconsolidated turnover forecast for 2015 in amount of 87 million Euro; Forecast of unconsolidated profit of JSC Olainfarm in amount of 14 million Euro, but consolidated turnover forecast for amount of 100 million Euro and profit consolidated profit forecast for amount of 15 million Euro.

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

 

7. Elections of the sworn auditor for 2015 and setting of the remuneration for the sworn auditor.

7.1. To elect SIA Ernst & Young Baltic (license No.17, unitary registration No. 40003593454) to be the certified auditor of JSC Olainfarm in 2015.

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

7.2.  Set the total remuneration of certified auditor for 2015 in amount of 42 450.00 Euro.

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

 

8. Elections of the Auditing Committee for 2015 and setting of the remuneration of the Auditing Committee .

8.1.To elect Mr. Viesturs Gurtlavs  to be the member of the Auditing Committee.

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

8.2. Set the total monthly remuneration of the member of the Auditing Committee at EUR 4 200.00.

Voting: the resolution was adopted unanimously.

 

9. Approval of Regulations for Auditing Committee

To approve the Regulations for Auditing Committee.

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

 

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 2015 Investor Conference Webinar

10/06/2015

On June 9 JSC Olainfarm organized its first quarter 2015 Investor Conference Online Webinar. During the webinar the member of the management board of JSC Olainfarm Salvis Lapiņš analyzed the financial results of first quarter 2015 and informed about the company’s future activities, this time paying extra attention to company’s Tajikistan, Kyrgyzstan and Turkmenistan markets.

The recorded Olainfarm webinar is available online: ej.uz/Olainfarm_Q1_2015, and the presentation, demonstrated during the webinar, can be found in the previously published company’s announcement: https://newsclient.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=664216&messageId=826964.

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
JSC Olainfarm
Tel: +371 6 7013 717
Cell: +371 2 6448 873
E-mail: slapinsh@olainfarm.lv

Olainfarm holds First Quarter 2015 Investor Conference Webinar

09/06/2015

JSC Olainfarm invites shareholders, investors, mass media representatives and other stakeholders to join its first quarter 2015 investor conference webinar scheduled on June 9, 2015 at 16:00 (EET). Please note that attendees have to register for the webinar – detailed information on the registration process is available below.

During the webinar Salvis Lapiņš will inform about JSC Olainfarm latest activities and analyze the non-audited financial results of the first quarter 2015 and audited financial results of 2014. After the presentation investors are welcome to ask questions. During the webinar the enclosed presentation will be presented: Webinar: 1st quarter of 2015

How to join the webinar?
All you need is a computer with internet connection and headphones.

To join the webinar, we invite you to register via http://ej.uz/OLF_1Q2015.

You will be provided with the webinar link and instructions to join webinar successfully. When joining the webinar for the first time, you will be asked to download the system application on your computer which will take only few seconds.

For more information on webinar service please visit: http://www.nasdaqbaltic.com/en/products-services/webinars-3/

 

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

Olainfarm will hold First Quarter 2015 Investor Conference Webinar

05/06/2015

JSC Olainfarm invites shareholders, investors, mass media representatives and other stakeholders to join its first quarter 2015 investor conference webinar scheduled on June 9, 2015 at 16:00 (EET). Please note that attendees have to register for the webinar – detailed information on the registration process is available below.

Webinar will be hosted by the Member of the Management Board Salvis Lapiņš. The presentation will be held in English.

During the webinar Salvis Lapiņš will inform about JSC Olainfarm latest activities and analyze the non-audited financial results of the first quarter 2015 and audited financial results of 2014.

After the presentation investors are welcome to ask questions. Due to the limited webinar time, please send in your questions in advance till June 8 to e-mail: ieva.kadakovska@nasdaq.com or Investors’ portal naudaslietas.lv.

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

How to join the webinar?
All you need is a computer with internet connection and headphones.

To join the webinar, we invite you to register via http://ej.uz/OLF_1Q2015.

You will be provided with the webinar link and instructions to join webinar successfully. When joining the webinar for the first time, you will be asked to download the system application on your computer which will take only few seconds.

For more information on webinar service please visit: http://www.nasdaqbaltic.com/en/products-services/webinars-3/

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

 

Profit of Olainfarm in First Quarter Increases by 81%, Sales Reached 27 Million

29/05/2015

JSC Olainfarm has just experienced its most profitable quarter so far, as it made a net profit of 6.7 million euro and sales of 27 million euro. Net profit has increased by 81%, while sales have increased by 16% compared to the same period one year ago.  Major sales markets of AS Olainfarm during this period were Russia, Latvia, Ukraine, The Netherlands and Belarus.

„Significant sales growth to countries of Central Asia and to Russia along with increased deliveries to the World Health Organization have helped us achieve yet another most successful quarter in history of Olainfarm.  However, worsening of situation on Ukrainian and Russian markets make us be more careful and focus even more on further diversification of our sales markets. We have already taken a few steps in this direction, and commencement of exports to Mongolia and successful development with registration in Turkey are proof to that.  We are expecting more rapid sales growth of Silvanols soon, as it has been more than a year since we started a lot more active use of our marketing and logistics power to help them succeed in our traditional markets,” says Valerijs Maligins, Chairman of Olainfarm’s Board.

During the 1st quarter of 2015 sales to all company’s main markets continued increasing except for Belarus, where they shrunk by 26%, compared to 1st quarter of 2014.  It should be noted, however, that during previous two years in a row, sales to Belarus were growing: by more than 40% in 2014 and more than 70% in 2013. The most rapid sales increases during the 1st quarter of 2015 were achieved in Tajikistan, where sales grew by 173%, The Netherlands, where sales grew by 157%, Kyrgyzstan, where sales grew by 129% and Kazakhstan, where sales grew by 106%.  Sales to Russia grew by 27%. In total, during the first quarter JSC Olainfarm made sales in 31 countries on 5 continents.

During this time, significant changes have occurred to the structure of bestselling products, as due to increased demand for anti-tuberculosis product PASA Sodium salt, this product has become the second best selling product with a total share of 14% of all Olainfarm products sold.  The list of best sellers is still headed by Neiromidin, Olainfarm’s product for health of nervous system.

It is proposed, that Annual meeting of shareholders of JSC Olainfarm to be convened on June 11, 2015 approves operating plan of the Group for 2015.  According to it, sales of the Group in 2015 are planned to be 100 million euros, but the net profit will reach 15 million euros.  According to this unaudited report for 1st quarter of 2015, during the first three months 27% of annual sales target and 45% of annual profit target is met.

Condensed Consolidated Statement of  Financial Position

Group

31.03.2015

31.12.2014

EUR ’000

EUR ’000

 ASSETS
NON-CURRENT ASSETS
Intangible assets

          18 792

          18 848

Property, plant and equipment

          36 006

          34 674

Financial assets

            4 279

            4 234

TOTAL NON-CURRENT ASSETS

          59 077

          57 756

CURRENT ASSETS
Inventories

          18 754

          18 693

Receivables

          33 929

          28 219

Cash

            4 111

            2 055

TOTAL CURRENT ASSETS

          56 794

          48 967

TOTAL ASSETS

        115 871

        106 723

EQUITY AND LIABILITIES
EQUITY
Share capital

          19 719

          20 041

Share premium

            2 504

            2 504

Reserves

               322

                    -

Retained earnings

          57 163

          50 492

Non-controlling interests

                 12

                   8

TOTAL EQUITY

          79 720

          73 045

LIABILITIES
Non-current liabilities
Borrowings

            9 940

          10 387

Deferred corporate income tax

            1 754

            1 640

Deferred income

            2 037

            2 099

Total Non-Current Liabilities

          13 731

          14 126

Current liabilities
Borrowings

            6 953

            6 906

Trade payables and other liabilities

          15 028

          12 227

Deferred income

               439

               419

Total Current Liabilities

          22 420

          19 552

TOTAL LIABILITIES

          36 151

          33 678

TOTAL EQUITY AND LIABILITIES

        115 871

        106 723

 

Consolidated statement of comprehensive income

Group

Q1 2015

Q1 2014

EUR ’000

EUR ’000

Net revenue

       27 024

       23 314

Cost of goods sold

        (8 190)

        (7 587)

Gross Profit

       18 834

       15 727

Selling expense

        (7 119)

        (6 460)

Administrative expense

        (4 126)

        (3 762)

Other operating income

            592

            497

Other operating expense

        (1 626)

           (646)

Share of profit of an associate

              72

              22

Financial income

         1 990

              35

Financial expense

             (56)

           (930)

Profit Before Tax

         8 561

         4 483

Corporate income tax

        (1 772)

           (683)

Deferred corporate income tax

           (114)

           (123)

PROFIT FOR THE REPORTING PERIOD

         6 675

         3 677

Other comprehensive income for the reporting period

                 -

                 -

Total comprehensive income for the reporting period

         6 675

         3 677

Total comprehensive income attributable to:
The equity holders of the Parent Company

         6 671

         3 654

Non-controlling interests

                4

              23

Basic and diluted earnings per share, EUR            0.47            0.26

JSC Olainfarm Unaudited Interim Condensed Consolidated Financial Statements for the 3 Months Period Ended 31 March 2015:  Olainfarm_I_2015_consolidated FS_ENG

JSC Olainfarm is one of the biggest pharmaceutical companies in Latvia with more than 40 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company’s operations is to produce reliable and effective top quality products for Latvia and the rest of the world. Products made by the Group are being exported to more than 35 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

Information prepared by:

Salvis Lapins
JSC Olainfarm
Member of the Management Board
Rupnicu iela 5, Olaine, Latvia, LV 2114
Phone: +371 6 7013 717
Fax: +371 6 7013 777
E-mail: Salvis.Lapins@olainfarm.lv

 

 

Draft resolutions of the Annual General Meeting of Shareholders of JSC Olainfarm to be held on June 11th, 2015

28/05/2015

1. Report of the Board about the results of operations in 2014.

Draft resolution:

To take notice of the Report of the Board on results of operations in 2014.

 2. Report of the Council about the results of operations in 2014.

Draft resolution:

To take notice of the Report of the Council on results of operations in 2014.

3. Report of the Auditing Committee.

Draft resolution:

To take notice of the Report of the Auditing Committee.

4.JSC Olainfarm Consolidated and Parent company’s Annual report for year 2014.      

Draft resolution:

To approve JSC Olainfarm Consolidated and Parent mother company’s Annual report for year 2014.

5. Distribution of profit of 2014.

Draft resolution:

To reinvest the profit of JSC Olainfarm for year 2014 in amount of  EUR 11 424 000.00 (eleven million four hundred twenty four thousand euro, 00 cents) in the development of JSC Olainfarm.

6. Report of the Management Board about the budget and operational plan for 2015.

Draft resolution:

To take notice of Report of the Board on budget and operational plan for 2015, which include Company’s unconsolidated turnover forecast for 2015 in amount of 87 million Euro; Forecast of unconsolidated profit of JSC Olainfarm in amount of 14 million Euro, but consolidated turnover forecast for amount of 100 million Euro and profit consolidated profit forecast for amount of 15 million Euro.

7. Elections of the sworn auditor for 2015 and setting of the remuneration for the sworn auditor.

Draft resolutions:

7.1. to elect SIA Ernst & Young Baltic (license No.17, unitary registration No. 40003593454) to be the certified auditor of JSC Olainfarm in 2015.

7.2. to set the total remuneration of certified auditor for 2015 in amount of 42 450.00 Euro.

8. Elections of the Auditing Committee for 2015 and setting of the remuneration of the Auditing Committee.

Draft resolutions:

8.1. to elect Mr. Viesturs Gurtlavs  to be the member of the Auditing Committee.

8.2. to set the total monthly remuneration of the member of the Auditing Committee in amount of EUR 4 200.00.

9. Approval of Regulations for Auditing Committee.

Draft resolutions:

To approve the Regulations for Auditing Committee.

Olainfarm Sells for 9.15 Million in April, Starts Exporting to Mongolia

15/05/2015

Preliminary consolidated results of JSC Olainfarm for April 2015 show that the group has made sales worth 9.15 million euros, which represents a reduction by 3% compared to April of last year.  Sales to The Netherlands grew the most, as they increased by 800%.  Sales to Kyrgyzstan increased by 129%.  During April, the group also made significant shipments to Germany and started exporting of final dosage forms to Mongolia. Major sales markets of the group during April were Russia, Latvia, Ukraine, Belarus and The Netherlands.

April 2015, consolidated sales Share in total sales Changes to April 2014
Russia 38% -21%
Latvia 22% 11%
Ukraine 11% -33%
Belarus 8% 8%
The Netherlands 7% 800%
Kazakhstan 2% -11%
Uzbekistan 2% 11%
Germany 1% NA
Kyrgyzstan 1% 129%
Turkmenistan 1% 37%
Other 6% 18%
Total 100% -3%

Sales of pharmacy chain of Latvijas aptieka Ltd. in April 2015 was 1.4 million euros, which represents an increase by 11% compared to 2013.  58 pharmacies were during April.  Sales of Silvanols Ltd. in April 2015 was 0.33 million euros, which represents an increase by 22% compared to 2014.  In April Silvanols Ltd. started exporting to Austria and generally was selling its products in six European countries.

During four months of 2015, according to preliminary figures, consolidated sales of JSC Olainfarm were 36.76 million euros, which represents an increase by 12% compared to similar period of 2014.  The most rapid sales growth were achieved in the Netherlands, where sales grew by 203%. Sales to Kyrgyzstan grew by 129%, sales to Tajikistan grew by 88%, but sales to Kazakhstan grew by 58%.  Major sales markets of JSC Olainfarm in four months of 2015 were Russia, Latvia, Ukraine, The Netherlands and Belarus.

4 months of 2015, consolidated sales Share in total sales Changes to 4 months of 2014
Russia 37% 10%
Latvia 21% 9%
Ukrain4 12% -1%
The Netherlands 8% 203%
Belarus 7% -18%
Kazakhstan 2% 58%
UK 2% 0%
Kyrgyzstan 1% 129%
Tajikistan 1% 88%
Uzbekistan 1% -29%
Other 7% 4%
Total 100% 12%

In four months of 2015, sales of pharmacy chain of Latvijas aptieka Ltd. was 5.6 million euros, which represents an increase by 10% compared to the same period one year ago.  Sales of Silvanols Ltd. in four months of 2015 were 1.4 million euros, which represents and increase by 24% compared to first four months of 2014, when Silvanols’ sales equaled 1.13 million euros. During first four months of 2015, Silvanols Ltd. was exporting its products to 11 countries in two continents.

According to preliminary unconsolidated sales figures of JSC Olainfarm, sales of the company during April 2015 were 8.08 million euros, which represents a reduction by 4% compared to the same period of 2014. The biggest sales increases were achieved in The Netherlands, where sales grew by 800%.  Sales to Kyrgyzstan grew by 129%, sales to Turkmenistan grew by 37%, and significant shipments were made to Germany and exports started to Mongolia.  Major sales markets of JSC Olainfarm in April 2015 were Russia, Latvia, Ukraine, Belarus and The Netherlands.  In total during April 2015, JSC Olainfarm made its sales in 24 countries on three continents.

April 2015, unconsolidated sales Share in total sales Changes to April 2014
Russia 43% -21%
Latvia 13% 26%
Ukraine 12% -33%
Belarus 9% 8%
The Netherlands 7% 800%
Kazakhstan 2% -11%
Uzbekistan 2% 11%
Germany 2% NA
Kyrgyzstan 2% 129%
Turkmenistan 1% 37%
Other 6% 15%
Total 100% -4%

According to preliminary results, during 4 months of 2015 unconsolidated sales of JSC Olainfarm has reached 32.6 million euros, which represents an increase by 15% compared to the same period of 2014.  The most rapid sales increases were achieved in The Netherlands, Kyrgyzstan, Tajikistan and Kazakhstan, where sales respectively grew by 203%, 129%, 88% and 58%.  According to preliminary unconsolidated results the major sales markets of JSC Olainfarm in four months of 2015 were Russia, Ukraine, Latvia, The Netherlands and Belarus.  In total in four months of 2015 JSC Olainfarm made sales to 33 countries in 5 continents.

4 months of 2015, unconsolidated sales Share in total sales Changes to 4 months of 2014
Russia 42% 10%
Ukraine 13% -1%
Latvia 13% 38%
The Netherlands 9% 203%
Belarus 8% -18%
Kazakhstan 3% 58%
UK 3% 0%
Kyrgyzstan 1% 129%
Tajikistan 1% 88%
Uzbekistan 1% -29%
Other 6% -6%
Total 100% 15%

According to preliminary estimates, the Company expects its unconsolidated sales of 2015 to reach 84 million euro, while its consolidated sales are expected to be at 100 million euro.  Preliminary sales numbers published herein show that in 4 months of 2015 the company has attained 39% of its annual estimate of unconsolidated sales and 37% of its annual estimate of 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

 

 

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

11/05/2015

Supervisory Council of JSC Olainfarm has read the Consolidated and Parent Company’s Annual reports for 2014, as well as Independent Auditors’ Report about it. In addition, the Council has assessed financial position of the Company and Operations of the Management Board during this financial year and hence produced this Report.

The Council is satisfied that this has been the sixth consecutive year since the Company is demonstrating considerable profitability and sales of the Company continue growing. Although during 2014 serious economic turbulences were experienced by four markets important to the Company, it managed to increase its sales in almost all of them.  It resulted in overall sales of the Company increasing by more than 20%.  We would like to particularly stress Company’s successful cooperation with its Polish partners as well as increasing shipments to the World Health Organization. In both cases Company’s sales during this year have grown by different factors, and, which is particularly important, they contribute to independence from currently unstable markets of CIS countries.

Because of successfully established and growing chain of pharmacies as well as improving operations of Silvanols Ltd., company managed to stabilize its positions on Latvian market even further as Latvia is now very clearly a second most important market for the Company.  Every fifth euro during 2014 was received from Company’s Latvian partners, while every third euro came from sales to EU countries. Since pharmaceutical sector is very seriously regulated, the Supervisory Council regards this as an important achievement for market diversification.

Consolidated profit of the Company in 2014 was 12.2 million euros, while profit of the parent company exceeded 11.4 million euro.  Throughout the year we had reasonable expectations that the Company will be able to meets its profit guidances of 15 and 14 million euros respectively.  However, the rapid devaluation of Russian Ruble versus the Euro at the end of 2014, as well as adverse fluctuations of other currencies generated the total foreign exchange loss of 4.5 million euro, which made the meeting of initial profit targets practically impossible.  The Council has drawn the attention of the Management Board to the fact that this is yet another proof that further diversification of sales markets is of utmost importance for stable development of the company.

Since over the last number of years Company has been undergoing a phase of very significant sales increases, the Council has repeatedly drawn Board’s attention to the necessity to follow carefully if the Company has all the technological capacities necessary for further development.  Council very highly appreciates the work conducted by the Board for modernization of the production and respective raising of funding.  While during the last two years significant improvements have been made to modernize production processes, a lot remains to be done in the near future for improving production infrastructure.  Not only will it significantly improve environmental standards of the Company, but if funded using different sources of support, should also provide considerable economic effect.

Because of the necessity to continue with investments, including investments into production related infrastructure, as well as taking into consideration still unstable situation in sales markets important to the Company, the Council maintains its previously expressed proposal, to abstain from declaring dividends until the profits of 2015 are distributed.  If the situation does not deteriorate, the Council might ask the shareholders to approve dividends from the profit of 2015, with a payout ratio of 17.5%

The Council continues carefully following recent developments in Russia, which remains the main market of the Company.  Although on a numerous occasions, including this Report, the Council has drawn Board’s attention to necessity to diversify Company’s sales markets, in order to reduce dependency on a market as unstable as Russia today, by no means is the Council supporting any reduction of operations or activity in Russia.  Instead, the diversification should be promoted by achieving even bigger sales increases in other countries.  The council still regards an acquisition of similar profile company, whose sales markets are significantly different from Company’s markets as one of the particularly efficient ways for increasing sales diversity. Council invites the Board to put even more effort in considering development of this kind.

Council regards acquisition of 70.88% stake of Silvanols Ltd. and a further increase to nearly 97% an important but insufficient step to better sales market diversity.  In collaboration with Silvanols Ltd. the Company has a very real chance to strengthen its positions domestically, in CIS countries and other countries, where entry with food supplements is easier.

During 2014 the Council of the Company has performed its duties and supervised operations of the Company according to legislation, decisions by the general meetings.  The Council has approved financial statements and overviewed operations of Company’s management.  During the reporting period 25 Council meetings were held.  During these meetings, Board reports, plans, planned and actual budgets were reviewed.  Agenda items of general meetings were pre-approved. Council found no insufficiencies in Boards operations in 2014.  To a large extent the Board has been consulting the Council and has taken into account all previously mentioned and other recommendations of the Council targeted at safe further development of the Company.

The Council would like to take this opportunity to thank the Board, all employees of the Company, its partners for successful operations in 2014, congratulate shareholders with good results and wish a successful, stable and positively challenging 2015 and the further years.

 

Approved by the Council Meeting on May 5, 2015

 

 

 

Proposal of the Management Board of JSC Olainfarm regarding distribution of profit of 2014

11/05/2015

The amount of net profit made by JSC Olainfarm in 2014 is 11 424 000.00 (eleven million four hundred  and twenty four thousand) euros.

Managament Board of JSC Olainfarm proposes to shareholders of the company that the entire profit made in 2014 be retained by the company and fully reinvested into further development of JSC Olainfarm.

Announcement about convening of the Annual General Meeting of Olainfarm

11/05/2015

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 June 11, 2015 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 2014.

2.    Report of the Council about the results of operations in 2014.

3.    Report of the Auditing Committee.

4.    JSC Olainfarm Сonsolidated and ParentСompany’s Annual Report for year 2014.

5.    Distribution of profit of 2014.

6.    Report of the Management Board about the budget and operational plan for 2015.

7.    Elections of the sworn auditor for 2015 and setting of the remuneration for the sworn auditor.

8.    Elections of the Auditing Committee for 2015 and setting of the remuneration of the Auditing Committee.

9.    Approval of Regulations for Auditing Committee.

 

Registration of the shareholders will take place on the day of the meeting, i.e. June 11, 2015 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 June 3rd, 2015. Only those who are the shareholders at the date of record have the right to participate in the Annual General Meeting of shareholders on June 11, 2015, 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 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 May 28, 2015 until June 10, 2015 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 Riga http://www.nasdaqomxbaltic.com.

JSC Olainfarm Сonsolidated and PARENT Сompany’s Annual Report for Year 2014, Report of Independent Auditors, Report of the Council, Corporate Governance Report and Proposals Regarding Distribution of Profit are available at JSC Olainfarm web-site www.olainfarm.lv, web-site of the system of Central Storage of Regulated Information www.oricgs.lv and web-site of JSC  NASDAQ Riga www.nasdaqomxbaltic.com.

 

FORM OF POWER OF ATTORNEY: Pilnvaras_veidlapa_11062015_EN

 

Management Board of the JSC Olainfarm

 

 

 

Olainfarm Sets Group and Company Revenue Records

30/04/2015

Consolidated profit and loss account of JSC Olainfarm for 2014 shows that the Group has made sales worth 93.7 million euros, which represents an increase by 20% compared to 2013, when revenues of the Group was 77.9 million euro.  Sales of the Company in 2014 were 81.6 million, which is an increase by 22% compared to 2013, when sales of the Company were 66.9 million euro.  Therefore, 2014 in terms of revenues was the best year in Company’s and Group’s history so far.

Net after tax profit of the Group in 2014 was 12.23 million euro, which is a reduction by 0.3% compared to 2013, when Group’s profit was 12.6 million euros. Profit of the Company in 2014. was 11.4 million euro, which is a reduction by 11% compared to 2013.  2014 was the third best year in terms of profit in corporate history so far.

Payment discipline of one of the Russian based wholesaling partners Oriola has significantly deteriorated since the end of 2014 and because information available on the financial status of that company causes concerns regarding its ability to settle outstanding payments, the Company, and hence the Group, have made provisions of 979 thousand euros, which equals 100% of  receivables due from Oriola.

During 2014 sales to all Group’s main markets continued increasing except for Kazakhstan, UK and Uzbekistan, where sales shrunk by 32%, 32% and 11% respectively. The most rapid sales increase during 2014 was achieved in Poland, where sales grew by 434%, and in The Netherlands, where products of WHO’s anti-tuberculosis program are being shipped. Sales to The Netherlands grew by 192%.  Significant sales growth has also been achieved in Lithuania (by 60%) and Belarus (by 40%).  Major sales markets of the Group during 2014 were Russia, Latvia, Ukraine, Belarus and The Netherlands.

During 2014 sales to all Company’s main markets continued increasing except for the same markets of Kazakhstan, UK and Uzbekistan, where sales shrunk by 32%, 32% and 11% respectively. The most rapid Company sales increase during 2014 was achieved in Poland, where sales grew by impressive 1136%, and in The Netherlands, where products of WHO’s anti-tuberculosis program are being shipped. Sales to The Netherlands grew by 192%.  Significant sales growth has also been achieved in Tajikistan (by 70%) and Belarus (by 40%).  Major sales markets of the Company during 2014 were Russia, Ukraine, Latvia, Belarus and The Netherlands.

Best selling products of the Company in 2014 were central nervous system medicines  „Neiromidin”, „Noofen” un „Adaptol”, antibacterial product „Furamag” and antiarrhythmic product „Etacizin”.

During 2014 38 registration cases have been approved in several countries, including such untraditional countries for JSC Olainfarm as Peru, Mongolia, Bhutan, Romania and Kosovo.   Several products are still in the process of obtaining MAs, among other countries, in Turkey, 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.  Among other things the company works at development of a new nootropic medication, new product of nitrofurantoin group and a new food supplement.

In December of 2014 JSC Olainfarm established a fully owned subsidiary Olainfarm Azija in Kyrgyzstan and in March of 2015 – fully owned subsidiary Olainfarm Lithuania. Main operations of the newly established entities will be related to promotion of products made by the Group and its partners in these countries.

Annual meeting of shareholders of JSC Olainfarm held on April 29, 2014 approved operating plan of the Group and the Company.  According to it, sales of the Group in 2014 were planned to be 93 million euros, but the net profit was to reach 15 million euros.  According to this audited report for 2014, during this period 100.7% of annual sales target and 82% of annual profit target is met.

Sales and profit targets approved at the same AGM for the Company were 80 million and 14 million respectively.  According to this audited report for 2014, in 2014 102% of annual sales target and 82% of Company’s annual were attained.

 

JSC Olainfarm is one of the biggest pharmaceutical companies in Latvia with more than 40 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company’s operations is to produce reliable and effective top quality products for Latvia and the rest of the world. Products made by the Group are being exported to more than 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

March Sales of Olainfarm Increase By 36%

15/04/2015

Preliminary consolidated sales results of JSC Olainfarm show that the sales have reached 8.7 million euro, which represents an increase by 36% compared to the same period one year ago.  The biggest sales increases were achieved in The Netherlands, where sales grew by 594%.  Sales to Tajikistan grew by 227%, but sales to Kazakhstan grew by 144%.  Significant shipments have also been made to Papua New Guinea and Turkmenistan. The major sales markets of JSC Olainfarm during March were Russia, Latvia, The Netherlands and Belarus.

March 2015, consolidated sales Share in total sales Changes to March 2014
Russia 31% 29%
Latvia 22% 11%
The Netherlands 13% 594%
Belarus 9% 26%
Ukraine 6% -34%
Kazakhstan 5% 144%
Tajikistan 4% 227%
Papua New Guinea 2% NA
Kyrgyzstan 1% 39%
Turkmenistan 1% NA
Other 6% -17%
Total 100% 36%

Sales of pharmacy chain of Latvijas aptieka Ltd. in March 2015 were 1.44 million euro, which represents an increase by 9% compared to the March of 2014.  57 pharmacies were operating during this period.  Sales of Silvanols Ltd. in March 2015 was 0.29 million euros, which represents an increase by 7%, compared to similar period one year ago. During March 2015 Silvanols Ltd. was selling its products in eight European countries.

According to preliminary consolidated results the sales of JSC Olainfarm during the first quarter of 2015 was 27.65 million euro, which represents an increase by 18% compared to the first quarter of 2014.  The most rapid sales increases were achieved in Tajikistan, where sales grew by 173%, The Netherlands, where sales grew by 157%, Kyrgyzstan, where sales grew by 129% and Kazakhstan, where sales grew by 106%.  Major sales markets of JSC Olainfarm during the first quarter of 2015 were Russia, Latvia, Ukraine, The Netherlands and Belarus.

3 months of 2015, consolidated sales Share in total sales Changes to 3 months of 2014
Russia 37% 27%
Latvia 21% 9%
Ukraine 12% 14%
The Netherlands 8% 157%
Belarus 6% -26%
UK 3% 0%
Kazakhstan 2% 106%
Tajikistan 1% 173%
Kyrgyzstan 1% 129%
Lithuania 1% 11%
Other 7% -16%
Total 100% 18%

Sales of pharmacy chain of Latvijas aptieka Ltd. during the first quarter of 2015 were 4.22 million euro.  Sales of Silvanols Ltd. during this period were 1.1 million euro, and sales were made to 12 European countries.

According to preliminary unconsolidated sales results of JSC Olainfarm for March 2015, the sales were 7.72 million euro, which represents an increase by 45% compared to the same period one year ago  The biggest sales increases were achieved in The Netherlands, where sales grew by 594%.  Sales to Tajikistan grew by 227%, but sales to Kazakhstan grew by 144%.  Significant shipments during this period were also made to Papua New Guinea and Turkmenistan.  Major sales markets of JSC Olainfarm during March 2015 were Russia, The Netherlands, Latvia, Belarus, Ukraine and Kazakhstan.  In total during Marchs 2015, products of JSC Olainfarm were sold to 24 countries in five continents.

March 2015, unconsolidated sales Share in total sales Changes to March, 2014
Russia 34% 29%
The Netherlands 14% 594%
Latvia 14% 51%
Belarus 10% 26%
Ukraine 7% -34%
Kazakhstan 6% 144%
Tajikistan 5% 227%
Papua New Guinea 2% NA
Kyrgyzstan 1% 39%
Turkmenistan 1% NA
Other 5% -31%
Total 100% 45%

According to preliminary unconsolidated sales figures of JSC Olainfarm for three months of 2015, the sales during this period were 24.57 million euro, which represents an increase by 23% compared to the same period one year ago.  The most rapid sales increases were achieved in Tajikistan, The Netherlands, Kyrgyzstan and Kazakhstan, where sales respectively grew by 173%, 157%, 129% and 106%.  According to preliminary unconsolidated sales results, the major sales markets of JSC Olainfarm in three months of 2015 were Russia, Ukraine, Latvia, The Netherlands and Belarus.  In total, during three months of 2015 products of JSC Olainfarm were sold in 31 countries in 5 continents.

3 months of 2015, unconsolidated sales Share in total sales Changes to 3 months of 2104
Russia 41% 27%
Ukraine 14% 14%
Latvia 13% 43%
The Netherlands 9% 157%
Belarus 7% -26%
UK 3% 0%
Kazakhstan 3% 106%
Tajikistan 1% 173%
Kyrgyzstan 1% 129%
Uzbekistan 1% -43%
Other 6% -18%
Total 100% 23%

According to preliminary sales target estimates of JSC Olainfarm, unconsolidated sales of the company in 2015 could reach 84 million euros, while consolidated sales could be as high as 100 million euro.  According to these preliminary sales figures, during three months of 2015 the company has attained 29% of annual estimate for unconsolidated sales and 28% of annual estimate 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

 

 

 

Olainfarm’s Sales in February Increase by 56%, Export to Kosovo Commenced

13/03/2015

Preliminary consolidated sales results of JSC Olainfarm for February 2015 show that company’s sales have reached 11.4 million euros, which is an increase by 56% compared to the same period one year ago.  The biggest sales increases were achieved to Moldova, where sales grew by 1288%, sales to Kyrgyzstan grew by 458%, and sales to The Netherlands grew by 167%, while sales to Russia grew by 114%. In February 2015, JSC Olainfarm started exports of final dosage forms to Kosovo. First shipment to this market was worth a little more than 60 thousand euros. The biggest sales markets of JSC Olainfarm in February 2015 were Russia, Latvia, Ukraine, Belarus and The Netherlands.

February 2015, consolidated sales

Share in total sales

Changes to February 2014

Russia 46% 114%
Latvia 17% 13%
Ukraine 15% 74%
Belarus 7% 8%
The Netherlands 5% 167%
Kyrgyzstan 2% 458%
Kazakhstan 1% 40%
Bulgaria 1% 35%
Lithuania 1% 59%
Moldova 1% 1288%
Other 4% -54%
Total 100% 56%

Sales of the pharmacy chain of Latvijas Aptieka Ltd., fully owned by JSC Olainfarm in February 2015 were 1.34 million euro, which is an increase by 9% compared to the same period of last year.  57 pharmacies were operating during February.  Sales of Silvanols Ltd. in this period were 0.43 million euros, which is an increase by 39% compared to February 2014.  In February 2015 Silvanols Ltd. sold its products to 7 European countries.

According to preliminary consolidated sales figures, in two months of 2015 sales of JSC Olainfarm were 19.17 million euros, which represents an increase by 13% compared to two months of 2014. The most rapid sales increases were achieved in Kyrgyzstan, where sales grew by 215%, sales to The Netherlands grew by 60%, while sales to Kazakhstan grew by 56%.  Major sales markets of JSC Olainfarm in two months of 2105 were Russia, Latvia, Ukraine, The Netherlands and Belarus.

2 months of 2015, consolidated sales

Share in total sales

Changes to 2 months of 2014

Russia 40% 28%
Latvia 21% 10%
Ukraine 15% 33%
The Netherlands 6% 60%
Belarus 5% -45%
UK 4% 0%
Kyrgyzstan 1% 215%
Kazakhstan 1% 56%
Uzbekistan 1% 5%
Lithuania 1% 30%
Other 5% -36%
Total 100% 13%

In first two months of 2015 sales of Latvijas Aptieka Ltd. were 2.8 million euros, while sales of Silvanols Ltd. were 0.82 million euros.  Silvanols Ltd. made its sales in 7 European countries.

According to preliminary unconsolidated sales figures of  JSC Olainfarm, sales of the company during February 2015 were 10.36 million euros, which represents an increase by 65% compared to the same period one year ago. The biggest sales increases were achieved in Azerbaijan, where sales grew by 99010%, sales to Moldova grew by 1288%, sales to Kyrgyzstan by 458%, sales to The Netherlands by 167%, and sales to Russia by 114%. The biggest sales markets of JSC Olainfarm in February 2015 were Russia, Ukraine, Latvia, Belarus and The Netherlands.  During February 2015, JSC Olainfarm sold its products in 17 Asian and European countries.

February 2015, unconsolidated sales Share in total sales Changes to February 2014
Russia 50% 114%
Ukraine 17% 74%
Latvia 10% 39%
Belarus 8% 8%
The Netherlands 6% 167%
Kyrgyzstan 2% 458%
Kazakhstan 2% 40%
Bulgaria 1% 35%
Moldova 1% 1288%
Azerbaijan 1% 99010%
Other 3% -66%
Total 100% 65%

In 2 months of 2015, according to preliminary unconsolidated sales results, the sales of JSC Olainfarm were 17.07 million euros, which represents an increase by 16% compared to the same period of 2014.  The most rapid sales increases have been achieved in Kyrgyzstan, The Netherlands and Kazakhstan, where sales grew by 215%, 60% and 56% respectively. According to preliminary unconsolidated results major sales markets of JSC Olainfarm in two months of 2015 were Russia, Ukraine, Latvia, The Netherlands, Belarus and the UK.  In total in two months of 2015 AS Olainfarm sold its products to 23 countries on 4 continents.

2 months of 2015, unconsolidated sales Share in total sales Changes to 2 months of 2014
Russia 45% 28%
Ukraine 17% 33%
Latvia 13% 42%
The Netherlands 7% 60%
Belarus 5% -45%
UK 5% 0%
Kyrgyzstan 1% 215%
Kazakhstan 1% 56%
Uzbekistan 1% 5%
Bulgaria 1% -15%
Other 4% -45%
Total 100% 16%

According to preliminary estimates the Company expects its unconsolidated sales of 2015 to reach 84 million euro, while its consolidated sales are expected to be at 100 million euro.  Preliminary sales numbers published herein, show that in 2 months of 2015 the company has attained 20% of its annual estimate of unconsolidated sales and 19% of its annual estimate of 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

 

 

Fourth Quarter 2014 Investor Conference Webinar

11/03/2015

On March 11 JSC Olainfarm organized its fourth quarter 2014 Investor Conference Online Webinar. During the webinar the member of the management board of JSC Olainfarm Salvis Lapiņš analyzed the financial results of fourth quarter 2014 and non-audited financial results of 12 months 2014 and informed about the company’s future activities, paying extra attention to company’s home market – Latvia.

During the webinar Salvis Lapiņš said that with the aim to mitigate the effect the recession of Russia company continues to move its marketing effort into smaller regions of Russia. In 2015 minor sales increase is planned in Russia compared to 2014.

Answering to the question of loans given to Management, Salvis Lapiņš noted that repayment schedule is being developed and in around 3 years the loan should be repaid.

The recorded Olainfarm webinar is available online: bit.ly/1AjfhKU, and the presentation, demonstrated during the webinar, can be found here: Webinar presentation: 4th quarter and entire 2014

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

Olainfarm will hold Fourth Quarter 2014 Investor Conference Webinar

05/03/2015

JSC Olainfarm invites shareholders, investors, mass media representatives and other stakeholders to join its fourth quarter 2014 investor conference webinar scheduled on March 11, 2015 at 16:00 (EET). Please note that the registration process for the webinar has been changed – detailed information can be found below.

Webinar will be hosted by the Member of the Management Board Salvis Lapiņš. The presentation will be held in English.

During the webinar Salvis Lapiņš will inform about JSC Olainfarm latest activities and analyze the financial results of the fourth quarter 2014 and non-audited financial results of 12 months 2014.

After the presentation investors are welcome to ask questions. Due to the limited webinar time, please send in your questions in advance till March 10 to e-mail: ieva.kadakovska@nasdaq.com or Investors’ portal naudaslietas.lv.

 

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

How to join the webinar?
All you need is a computer with internet connection and headphones.

To join the webinar, we invite you to register via http://ej.uz/OLF_Q4_2014.

You will be provided with the webinar link and instructions to join webinar successfully. When joining the webinar for the first time, you will be asked to download the system application on your computer which will take only few seconds.

For more information on webinar service please visit: http://www.nasdaqbaltic.com/en/products-services/webinars-3/
Join the webinar and be the first one to hear the news!

 

JSC Olainfarm is one of the biggest pharmaceutical companies in Latvia with more than 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.

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

 

Olainfarm’s Sales Last Year Reach 93.7 Million, Profit Target Not Attained

27/02/2015

Consolidated profit and loss account of JSC Olainfarm for 2014 shows that the Group has set the new sales record as it sold its products worth 93.7 million euros.  This represents an increase by 20% compared to 2013, when sales of JSC Olainfarm were 78 million euros.

Net profit of the Group in 2014 was 12.66 million euros, which is an increase by 0.5% compared to 2013, when profit of JSC Olainfarm was 12.6 million euros.

“Although we have managed to set yet another sales record in history of Olainfarm, significant changes in almost all of our key markets, including difficulty to deliver our products to several regions of Ukraine, currency devaluations in Ukraine, Russia, Kazakhstan and Belarus, prevented us from attaining the profit guidance.  Instability in these important markets makes us put even more effort to star selling our final dosage and chemical products in other regions and pay a lot more attention at identification of potential acquisition targets, which have less dependency on CIS markets,” says Valerijs Maligins, Chairman of the Board of JSC Olainfarm.

During 2014 sales to all company’s main markets continued increasing except for Kazakhstan, UK and Uzbekistan, where sales shrunk by 32%, 32% and 11% respectively. The most rapid sales increase during 2014 was achieved in Poland, where sales grew by 434%, and in The Netherlands, where products of WHO’s anti-tuberculosis program are being shipped. Sales to The Netherlands grew by 192%.  Significant sales growth has also been achieved in Lithuania (by 60%) and Belarus (by 40%).  Major sales markets of  JSC Olainfarm during 2014 were Russia, Latvia, Ukraine, Belarus and The Netherlands.

During 2014 38 registration cases have been approved in several countries, including such untraditional countries for JSC Olainfarm as Peru, Mongolia, Bhutan, Romania and Kosovo.   Several products are still in the process of obtaining MAs, among other countries, in Turkey, 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.  Among other things the company works at development of a new nootropic medication, new product of nitrofurantoin group and a new food supplement.

Annual meeting of shareholders of JSC Olainfarm held on April 29, 2014 approved operating plan of the Group.  According to it, sales of the Group in 2014 are planned to be 93 million euros, but the net profit will reach 15 million euros.  According to this unaudited report for 2014, during this period 100.7% of annual sales target and 84% 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.

 

Olainfarm Makes Shipments to Brazil, Silvanols Increases Sales to Georgia

16/02/2015

According to preliminary consolidated sales results for January 2015, sales of JSC Olainfarm have reached 7.75 million euro, which represents a reduction by 20% compared to January of 2014.  The biggest sales increase has been achieved to the UK, where sales have grown by 50%, shipment of almost 55 000 euro has also been made to Brazil.  The major sales markets of  JSC Olainfarm in January 2015 were Russia, Latvia, Ukraine, The UK and The Netherlands.

January 2015, consolidated sales Share in total sales Changes to January, 2014
Russia 32% -31%
Latvia 27% 8%
Ukraine 15% -3%
UK 11% 50%
The Netherlands 6% 6%
Uzbekistan 2% 22%
Belarus 2% -86%
Lithuania 1% 6%
Brazil 1% NA
Georgia 1% -30%
Other 3% -71%
Total 100% -20%

Sales of Latvijas aptieka Ltd. during January were 1.43 million euro and 57 pharmacies were operating during this period. Sales of Silvanols Ltd. during January were 0.39 million euro, which is an increase by 36% compared to January of 2014. During this month Silvanols Ltd. has made sales to five European countries, sales to Georgia have demonstrated particularly strong growth.

According to unconsolidated sales results of JSC Olainfarm for January 2015, the sales of the company were 6.7 million euro, which represents a reduction by 20% compared to the same period one year ago.  The biggest sales increases were achieved in Kazakhstan, where sales grew by 141%, the UK, where sales grew by 50% and Latvia, where sales grew by 46%.  Major sales markets of JSC Olainfarm during January 2015 were Russia, Latvia, Ukraine, the UK and the Netherlands.  In total products of JSC Olainfarm during this period were sold to 20 countries on four continents.

January 2015, unconsolidated sales Share in total sales Changes to January 2014
Russia 37% -31%
Latvia 18% 46%
Ukraine 17% -3%
UK 13% 50%
The Netherlands 7% 6%
Uzbekistan 3% 22%
Belarus 2% -86%
Brazil 1% NA
Kazakhstan 1% 141%
Lithuania 1% -22%
Other 2% -79%
Total 100% -20%

According to preliminary estimated made by the Board of the company, the unconsolidated sales of the company in 2015 are expected to be at 84 million euro, while consolidated sales are expected to be at 100 million euro.  According to these preliminary sales figures, during January 2015 8% of annual consolidated sales target and 8% of annual unconsolidated sales targets were 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: Salvis.Lapins@olainfarm.lv

 

Denomination of Shares From Lats to Euro

23/01/2015

JSC Olainfarm informs that in accordance to the decision of extraordinary general meeting that took place on December 17, 2014 to denominate share nominal value from lats to euro, the denomination date is set on January 23, 2015.

The Articles of association are registered within Commercial registry on January 12, 2015.

The new Articles of Association: JSC Olainfarm Articles of Association 2014

 

Additional information:

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 Grew by 19% Last Year, Silvanols Restarts Exporting to Kazakhstan

15/01/2015

According to preliminary consolidated sales results for December 2014, sales of the company have reached 7.82 million euros, which represents an increase by 23% compared to the same period of 2013.  The biggest sales increases were achieved in Poland, where sales grew by 692%, sales to Tajikistan grew by 211%, and sales to Kyrgyzstan grew by 99%, while sales to Lithuania grew by 89%.  During December 2014 JSC Olainfarm also made significant shipments to Belarus, The Netherlands, and Bulgaria, and helped Silvanols Ltd. restart exporting to Kazakhstan.  Major sales markets of JSC Olainfarm during December 2014 were Russia, Ukraine, Latvia and Belarus.

December 2014, consolidated sales

Share in total sales

Changes to December 2013

Russia 31% 36%
Ukraine 29% 24%
Latvia 22% 10%
Belarus 12% NA
The Netherlands 3% NA
Bulgaria 2% NA
Poland 2% 692%
Tajikistan 2% 211%
Lithuania 2% 89%
Kyrgyzstan 1% 99%
Other 3% -72%
Total 100% 23%

Sales of pharmacy chain of Latvijas aptieka Ltd., fully owned by JSC Olainfarm during December 2014 were 1.14 million euros and 57 pharmacies were operating during December.  Sales of Silvanols Ltd. in December 2014 were 0.42 million euros, and the company was selling its products to 4 European countries and, with assistance from JSC Olainfarm to Belarus and Kazakhstan.

During 2014 according to preliminary consolidated sales figures, sales of JSC Olainfarm were 93.79 million euros, which represents an increase by 19% compared to 2013. The most rapid sales increases were achieved in Poland, where sales grew by 434%, and in The Netherlands, where sales grew by 192%.  The major sales markets of JSC Olainfarm in 2014 were Russia, Latvia, Ukraine and Belarus.

2014, consolidated sales

Share in total sales

Changes to 2013

Russia 36% 15%
Latvia 22% 16%
Ukraine 15% 28%
Belarus 8% 40%
The Netherlands 3% 192%
Kazakhstan 2% -32%
UK 2% -32%
Poland 2% 434%
Uzbekistan 1% -11%
Lithuania 1% 60%
Other 8% 20%
Total 100% 19%

During 2014 sales of pharmacy chain of Latvijas aptieka Ltd. fully owned by JSC Olainfarm were 14.9 million euro.  Sales of  Silvanols Ltd. during 2014 were 3.5 million euro.  Silvanols Ltd. made its sales in eleven countries on two continents.

According to unconsolidated sales results of  JSC Olainfarm, sales in December 2014 were 7.62 million euros, which represents an increase by 44% compared to the same period one year ago.  The major sales increases were achieved in Tajikistan, where sales grew by 211%, Kyrgyzstan, where sales grew by 99% and Latvia, where sales grew by 45.  During December the company has also made significant shipments to Belarus, The Netherlands, Bulgaria and Poland.  The major sales markets of  JSC Olainfarm during December 2014 were Russia, Ukraine, Latvia and Belarus. During December products of JSC Olainfarm were sold to 20 countries on two continents.

December 2014, unconsolidated sales

Share in total sales

Changes to December 2013

Russia 32% 36%
Ukraine 30% 24%
Latvia 13% 45%
Belarus 12% NA
The Netherlands 3% NA
Bulgaria 3% NA
Poland 2% NA
Tajikistan 2% 211%
Kyrgyzstan 1% 99%
Lithuania 1% 13%
Other 3% -74%
Total 100% 44%

According to unconsolidated figures, sales of JSC Olainfarm during 2014 were 81.7 million euros, which represents an increase by 21% compared to 2103. The biggest sales increases were achieved to Poland, where sales grew by 1136%, sales to The Netherlands grew by 192%, sales to Tajikistan grew by 70% and sales to Belarus grew by 40%.  According to preliminary unconsolidated sales results, the biggest sales markets of JSC Olainfarm in 12 months of 2014 were Russia, Ukraine, Latvia and Belarus.  In total, during 2014 JSC Olainfarm sold its products to 35 countries on five continents.

2014, unconsolidated sales

Share in total sales Changes to 2013
Russia 41% 15%
Ukraine 17% 28%
Latvia 12% 35%
Belarus 9% 40%
The Netherlands 3% 192%
Kazakhstan 3% -32%
UK 2% -32%
Poland 2% 1136%
Uzbekistan 2% -11%
Tajikistan 1% 70%
Other 8% 15%
Total 100% 21%

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 2014 JSC Olainfarm has met 102% on annual unconsolidated sales target and 101% 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: Salvis.Lapins@olainfarm.lv

 

 

 

Olainfarm Invests 9.6 Million Euros in New Final Dosage Form Production Unit

13/01/2015

Today with participation of President of Latvia Andris Berzins, the new final dosage form production unit of JSC Olainfarm was opened. The unit includes final dosage form site for nitrofuranes, small batch production unit and final dosage development laboratory.  The project has been implemented with a support from European Regional Development Fund.

“Olainfarm has always been the most outstanding locomotive of Latvian chemical industry, which today, with opening of the capacities is doubling our economic capabilities.  Because of skilful management and introduction of new technologies, the company has been able to find markets in new and distant countries,” says President of Latvia Andris Berzins.

The new production unit has been built through reconstruction of previously underused building.  Its total space is 2112 square metres.  The building has two floors and is connected to the main final dosage form production unit. On the ground floor there is a small batch production unit and final dosage development laboratory, but on the second floor the nitrofurane final dosage production unit and in-process quality control laboratories are located.

„New final dosage form production unit of Olainfarm is a high added value investment project, that will help company to strengthen its competitiveness in growing world market of nitrofuranes and will significantly improve company’s ability to develop new products.  We have a long term experience in production of nitrofuranes, we are the only producer of them in Latvia and the Baltic States and the only ones in former Soviet Union who produce active pharmaceutical ingredients of nitrofuranes. Nitrofuranes make up more than 20% of sales of Olainfarm and during the last five years sales of nitrofuranes have tripled,” adds Chairman of the Board of JSC Olainfarm Mr. Valerijs Maligins.

Antibacterial nitrofurane derivatives, namely Furamag, Furagin, Furadonin and Furasol will be produced in the modernized facility, and after the completion of development process they will be joined by the new nitrofurane product. New equipment will significantly improve the efficiency of production processes, making them highly technological, and at the same time reduce energy consumption.

Small batch final dosage form production unit of JSC Olainfarm will produce smaller batches of finished products and will be used for technology scale-up. Small scale technologies will also allow optimisation of the use of more productive equipment. Final dosage form development laboratory has also been moved to the new building, where it will continue working on new forms of existing products and on development of brand new products.

New final dosage production unit of JSC Olainfarm  is the biggest financial investment in development of pharmaceutical production in the Baltics in 2014.  Total costs of the project are 9.6 million euro, of which 2.5 million euro is funded by European Regional Development Fund. Of the total project costs 4.1 million euro were invested in construction works, 4.8 in production equipment and 0.6 in analytical equipment.

New final dosage form production unit was constructed within the project „High Added Value Investments into Production of Nitrofuranes”, on which the contract No.L-APV-12-0039 was signed between JSC Olainfarm and Latvian Investment and Development Agency on August 15, 2012.

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

Dates When Financial Reports of JSC Olainfarm Will Be Published in 2015

31/12/2014

JSC Olainfarm hereby announces the dates on which its financial reports will be published in 2015:

  • Unaudited financial report for 2014 will be published on February 27, 2015.
  • Audited financial report for 2014 will be published on April 30, 2015.
  • Unaudited financial report for 1st quarter of 2015 will be published on May 29, 2015.
  • Unaudited financial report for 2 quarters of 2015 will be published on August 31, 2015.
  • Unaudited financial report for 3 quarters of 2015 will be published on November 30, 2015.

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

Decisions Adopted by the Extraordinary General Meeting of JSC Olainfarm

17/12/2014

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

 

1. Elections of the Council

1.1. To elect the Council of JSC Olainfarm consisting of the following members for the further term of five years, setting that term of the Council powers commences on December 18th, 2014: Valentīna Andrējeva; Gunta Veismane; Aleksandrs Raicis; Volodimirs Krivozubovs; Ingrīda Circene.

Voting: the following number of votes has been placed for each candidate:

for V.Andrējeva – 2226844 votes or 22,39% from the number of present shareholders with voting rights;

for G.Veismane – 1927765 votes or 19,38% from the number of present shareholders with voting rights.

for A.Raicis – 1928201 votes or 19,39% from the number of present shareholders with voting rights;

for V.Krivozubovs – 1927565  votes or 19,38 % from the number of present shareholders with voting rights;

for I.Circene – 1936035  votes or 19,46 % from the number of present shareholders with voting rights.

1.2. To set the total monthly remuneration of all the Supervisory Council at 10500,00 EUR.

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

 

2. Amendments of the Articles of Association and denomination of the nominal value of shares from lats to euro.

2.1. To perform fixed capital denomination to euro of Joint Stock Company Olainfarm, unitary registration Nr. 40003007246, determining that company’s fixed capital consists of 14,085,078 (fourteen million eighty-five thousand and seventy-eight) shares, with a nominal value 1, 40 EUR (one euro 40 euro cents) per share, forming the fixed capital in amount of EUR 19 719 109.20 (nineteen million seven hundred and nineteen thousand one hundred and nine euro and 20 euro cents).

Voting: the resolution was adopted unanimously.

2.2. To determine that Joint Stock Company Olainfarm share denomination date (calculation date) is January 23rd , 2015 (end of the day).

Voting: the resolution was adopted unanimously.

2.3. To transfer positive balance arising from denomination of shares of JSC Olainfarm from lats to euros  in amount of 322 151.24 EUR  (three hundred and twenty-two thousand one hundred fifty one euro and 24 euro cents) to the reserves of Joint Stock Company Olainfarm.

Voting: the resolution was adopted unanimously.

2.4. To amend Articles of Association of JSC Olainfarm as follows:

2.4.1. To express article 3.1. of the Articles of Association as follows:

“ 3.1. Fixed capital of the Company is 19 719 109.20 (nineteen million seven hundred and nineteen thousand one hundred and nine euro and 20 euro cents). Fixed capital of the Company consists of 14,085,078 (fourteen million eighty-five thousand and seventy-eight) shares. Nominal value of one share is EUR 1.40 (one euro 40 euro cents). “

Voting: the resolution was adopted unanimously.

2.4.2. To express article 4. of the Articles of Association as follows:

“ 4. Management Board

The Management Board of the Company consists from five members of the Management Board. Members of the Management Board are elected by the Council. Council designates Chairman of the Management Board, chosen among the Members of the Management Board.

Chairman of the Management Board and two Members of the Management Board has unrestricted authority to represent the company separately. Other two Members of the Management Board are authorized to represent the company only collectively.”

Voting: the resolution was adopted unanimously.

2.4.3. To approve the new edition of Articles of Association JSC Olainfarm.

Voting: the resolution was adopted unanimously.

 

3. Regarding approval of the separate audited report of JSC Olainfarm for the Year 2013, prepared in accordance with the International Financial Reporting Standards accepted in European Union.

To approve the separate audited report of Joint Stock Company Olainfarm for the Year 2013, which is prepared in accordance with the International Financial Reporting Standards accepted in European Union.

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

 

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 Eleven Months Increase by 17%

15/12/2014

According to preliminary consolidated results of JSC Olainfarm for November of 2014, company’s sales have reached 6.75 million euro, which represents a reduction by 27% compared to the same period one year ago. The biggest sales increases were achieved in The Netherlands, where sales grew by 227%, and sales to Lithuania have grown by 94%, while sales to Uzbekistan have grown by 51%.  The major sales markets of JSC Olainfarm in November 2014 were Russia, Latvia, The Netherlands and Belarus.

November 2014, consolidated sales Share in total sales Changes to November 2013
Russia 35% -28%
Latvia 26% 5%
The Netherlands 11% 227%
Belarus 9% 6%
Ukraine 8% -81%
Kazakhstan 4% -11%
Uzbekistan 2% 51%
Lithuania 2% 94%
Tajikistan 1% -42%
Moldova 1% -28%
Other 2% -35%
Total 100% -27%

Sales of pharmacy chain of Latvijas Aptieka Ltd., fully owned by JSC Olainfarm during this period were 1.3 million euro, and the chain consisted of 57 operating pharmacies. Sales of Silvanols Ltd. in this period were 0.29 million euro, and the sales were made to four European companies.

According to preliminary consolidated figures, during eleven months of 2014, JSC Olainfarm made sales worth 84.77 million euro, which represents an increase by 17% compared to the same period of 2013.  The most rapid sales increases during this period were achieved in Poland, where sales grew by 378%, sales to The Netherlands grew by 170% and sales to Lithuania grew by 56%.  The major sales markets of JSC Olainfarm during 11 months of 2014 were Russia, Latvia, Ukraine and Belarus.

11 months of 2014, consolidated sales Share in total sales Changes to 11 months of 2013
Russia 37% 13%
Latvia 23% 17%
Ukraine 13% 23%
Belarus 8% 22%
The Netherlands 3% 170%
Kazakhstan 3% -22%
UK 2% -32%
Poland 2% 378%
Uzbekistan 2% -3%
Lithuania 1% 56%
Other 8% 18%
Total 100% 17%

Sales of pharmacy chain of Latvijas Aptieka Ltd., fully owned by JSC Olainfarm during 11 months were 13.8 million euro. Sales of Silvanols Ltd. in 11 months period were 3.07 million euro, and the sales were made to ten European companies.

According to preliminary unconsolidated results of JSC Olainfarm for November of 2014, company’s sales have reached 5.79 million euro, which represents a reduction by 13% compared to the same period one year ago. The biggest sales increases were achieved in The Netherlands, where sales grew by 227%, and sales to Lithuania have grown by 156%, while sales to Uzbekistan have grown by 51%.  Sales to Latvia have grown by 36%. The major sales markets of JSC Olainfarm in November 2014 were Russia, Latvia, The Netherlands and Belarus. In November 2014 JSC Olainfarm made sales to 19 countries on 3 continents.

November 2014 unconsolidated results Share in total sales Changes to November 2013
Russia 40% -28%
Latvia 15% 36%
The Netherlands 11% 227%
Belarus 9% 6%
Ukraine 9% -81%
Kazakhstan 4% -11%
Uzbekistan 2% 51%
Lithuania 2% 156%
Tajikistan 1% -42%
Moldova 1% -28%
Other 2% -16%
Total 100% -13%

According to preliminary unconsolidated figures, during eleven months of 2014, JSC Olainfarm made sales worth 73.58 million euro, which represents an increase by 21% compared to the same period of 2013.  The most rapid sales increases during this period were achieved in Poland, where sales grew by 1013%, sales to The Netherlands grew by 170% and sales to Tajikistan grew by 58%.  Sales to Latvia grew by 34% According to preliminary unconsolidated sales figures, the major markets of JSC Olainfarm during 11 months of 2014 were Russia, Ukraine, Latvia and Belarus. During eleven months of 2014 the sales were made to 35 countries on five continents.

11 months of 2014, unconsolidated sales Share in total sales Changes to 11 months of 2013
Russia 43% 13%
Ukraine 15% 23%
Latvia 12% 34%
Belarus 9% 22%
The Netherlands 3% 170%
Kazakhstan 3% -22%
UK 2% -32%
Uzbekistan 2% -3%
Poland 2% 1013%
Tajikistan 1% 58%
Other 8% 14%
Total 100% 21%

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 eleven months of 2014 JSC Olainfarm has met 92% on annual unconsolidated sales target and 91% 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: Salvis.Lapins@olainfarm.lv

 

 

 

Third Quarter 2014 Investor Conference Webinar

10/12/2014

On December 9 JSC Olainfarm organized its third quarter 2014 Investor Conference Online Webinar. During the webinar the member of the management board of JSC Olainfarm Salvis Lapiņš analyzed the financial results of third quarter 2014 and informed about the company’s future activities, paying extra attention to CAPEX investment program.

During the webinar Salvis Lapiņš said that considering current JSC Olainfarm stock price tendencies, company’s Board has decided not to pursue the stock split idea, which was discussed earlier, for the time being.

Answering to the question of 2015 financial forecasts, Salvis Lapiņš noted that certain growth can be expected next year, but more detailed information is yet unknown.

The recorded Olainfarm webinar is available online:http://ej.uz/OLF_3Q_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=636447&messageId=790219.

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
JSC Olainfarm
Tel: +371 6 7013 717
Cell: +371 2 6448 873
E-mail: slapinsh@olainfarm.lv

Olainfarm Holds Third Quarter 2014 Investor Conference Webinar

09/12/2014

JSC Olainfarm invites shareholders, investors, mass media representatives and other stakeholders to join its third quarter 2014 investor conference webinar scheduled on December 9, 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 third quarter 2014.

After the presentation investors will be welcomed to ask questions.

The enclosed presentation will be used during the webinar: Webinar presentation: 3rd quarter and 9 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/Olainfarm_2014_Q3 on December 9, 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.nasdaqbaltic.com/en/products-services/webinars-3/
Join the webinar and be the first one to hear the news!

JSC Olainfarm is one of the biggest pharmaceutical companies in Latvia with more than 40 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company’s operations is to produce reliable and effective top quality products for Latvia and the rest of the world. Products made by the Group are being exported to more than 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

Olainfarm will Hold Third Quarter 2014 Investor Conference Webinar

05/12/2014

JSC Olainfarm invites shareholders, investors, mass media representatives and other stakeholders to join its third quarter 2014 investor conference webinar scheduled on December 9, 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 third 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 December 8 to e-mail: ieva.kadakovska@nasdaq.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/Olainfarm_2014_Q3 on December 9, 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.nasdaqbaltic.com/en/products-services/webinars-3/
Join the webinar and be the first one to hear the news!

JSC Olainfarm is one of the biggest pharmaceutical companies in Latvia with more than 40 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company’s operations is to produce reliable and effective top quality products for Latvia and the rest of the world. Products made by the Group are being exported to more than 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

Olainfarm Becomes Latvian Exports Champion of 2014

05/12/2014

JSC Olainfarm was awarded a title of Exports Champion at „Exports and Innovations Awards 2014” organised by Ministry of Economy and by Latvian Investment and Development Agency. Award to Chairman of the Board of JSC Olainfarm Mr. Valerijs Maligins was presented by President of Latvia Mr. Andris Berzins.

Winners of „Exports and Innovations Awards 2014” were announces and celebrated at the ceremony held on December 4th at Vidzeme Concert Hall in Cesis.

“This award is an outstanding appreciation to all the effort that we make every day to have medicines and pharmaceutical ingredients produced by Olainfarm more and more available worldwide.  It is time and effort consuming, but the strength, unity and dedication to growth does produce results.  I am delighted to have a team like this and partners like this and everyone who chooses Olainfarm,” says Valerijs Maligins.

Unaudited profit and loss account of JSC Olainfarm for nine months of 2014 shows that the Group has made a profit of 12.1 million euro and sales of 69.9 million euro, and these have been the most profitable nine months in corporate history so far.  Compared to the last year the profit has grown by 37%, while sales were 30% up.

These have been the tenth annual „Exports and Innovations Awards” organized by Latvian Investment and Development Agency in cooperation with the Ministry of Economy. It is aimed at celebrating Latvian companies that have achieved good results in production of new exportable products and in supplying domestic market with high quality locally produced goods, in implementation of innovative ideas and in development of industrial design.

Photo: Chancery of the President of Latvia

Draft resolutions of the Extraordinary General Meeting of Shareholders of JSC Olainfarm to be held on December 17th , 2014

03/12/2014

1. Elections of the Council.

Draft resolutions:

1.1. to elect the Council of JSC Olainfarm consisting of the following members for the further term of five years, setting that term of the Council powers commences on December 18th , 2014:

Name, surname, personal details:

1. Valentina Andrejeva,

2. Gunta Veismane,

3. Aleksandrs Raicis,

4. Volodymir Kryvozubov,

5. Ingrida Circene,

1.2.  To set the total monthly remuneration of all the Supervisory Council at 10500,00 EUR.

 

2. Amendments of the Articles of Association and denomination of the nominal value of shares from lats to euro.

Draft resolutions:

2.1. To perform fixed capital denomination to euro of Joint Stock Company Olainfarm, unitary registration Nr. 40003007246, determining that company’s fixed capital consists of 14,085,078 (fourteen million eighty-five thousand and seventy-eight) shares, with a nominal value 1.40 EUR (one euro 40 euro cents) per share, forming the fixed capital in amount of EUR 19 719 109.20 (nineteen million seven hundred and nineteen thousand one hundred and nine euro and 20 euro cents).

2.2. To determine that Joint Stock Company Olainfarm share denomination date (calculation date) is January 23rd , 2015 (end of the day).

2.3. To transfer positive balance arising from denomination of shares of JSC Olainfarm from lats to euros  in amount of 322 151.24 EUR  (three hundred and twenty-two thousand one hundred fifty one euro and 24 euro cents) to the reserves of Joint Stock Company Olainfarm.

2.4. To amend Articles of Association of JSC Olainfarm follows:

2.4.1. To express article 3.1. of the Articles of Association as follows:

“ 3.1. Fixed capital of the Company is 19 719 109.20 (nineteen million seven hundred and nineteen thousand one hundred and nine euro and 20 euro cents). Fixed capital of the Company consists of 14,085,078 (fourteen million eighty-five thousand and seventy-eight)shares.Nominal value of one share is EUR 1.40 (one euro 40 euro cents). ”

2.4.2. To express article 4. of the Articles of Association as follows:

“ 4. Management Board

The Management Board of the Company consists from five members of the Management Board. Members of the Management Board are elected by the Council. Council designates Chairman of the Management Board, chosen among the Members of the Management Board.

Chairman of the Management Board and two Members of the Management Board has unrestricted authority to represent the company separately. Other two Members of the Management Board are authorized to represent the company only collectively.”

2.4.3. To approve the new edition of Articles of Association JSC Olainfarm.

 

3.  Regarding approval of the separate audited report of JSC Olainfarm for the Year 2013, prepared in accordance with the International Financial Reporting Standards accepted in European Union.

Draft resolutions:

3.1. To approve the separate audited report of Joint Stock Company Olainfarm for the Year 2013, which is prepared in accordance with the International Financial Reporting Standards accepted in European Union.

 

Announcement prepared by:

Salvis Lapins

JSC Olainfarm

Member of the Management Board

Rupnicu street 5, Olaine

Latvia, LV-2114

Tel: +371 6 7013 717

e-mail: slapinsh@olainfarm.lv

Profit of Olainfarm Has Increased by 37% in Nine Months

28/11/2014

Unaudited profit and loss account for 9 months of 2014 shows that the group has experiences its best nine months so far as it made the net profit of 12.1 million euros and sales of 69.9 million euros.  Net profit has increased by 37%, whereas new sales by 30% compared to the same period one year ago.  The major sales markets of JSC Olainfarm during this period were Russia, Latvia, Ukraine, Belarus and The Netherlands.

Also a third quarter has been the most successful third quarter  for JSC Olainfarm in terms of sales so far, as it made sales of 21.3 million euros, which represents an increase by 12% compared to the same period of last year.  Net profit of the company during this quarter was 3.2 million euro.  This represents a reduction by 12.5% compared to the last year, but it has to be noted that due to economic difficulties in two of company’s key markets, the company decided to create provisions of 0.7 million euros for Russian and Ukrainian receivables..

„We have experienced the best third quarter in terms of sales and the best nine months in terms of the net profit in our history.  This and the next year our main focus will be on significant improvement of company’s infrastructure as well as increase of our presence in new export markets.  We are glad to have new market authorisations in countries that are hardly typical for us, including Peru, Bhutan, Mongolia, Romania and Kosovo.  First shipment to Mongolia might even take place later this year,” says Valerijs Maligins, Chairman of the Board of JSC Olainfarm.

During nine months of 2014 sales to all company’s main markets continued increasing except for Kazakhstan, where they shrunk by 11%, compared to the same period of 2013.  To a large extent such reduction was caused by the devaluation of Kazakhstan’s currency, but the decline in sales slowed down during the third quarter. The most rapid sales increases during the reporting period were achieved to Poland, where sales grew by 714%, The Netherlands by 184%, Ukraine by 119%, and Lithuania by 94.  In total during nine months products of JSC Olainfarm were sold to 32 countries in 5 continents.

During the 9 months of 2014 35 registration cases have been approved in several countries, including such untraditional countries for JSC Olainfarm as Peru, Mongolia, Bhutan, Romania and Kosovo.  Several products are still in the process of obtaining MAs, among other countries, in Turkey, registration processes have been launched in Bosnia and Herzegovina and other new markets.  Preclinical trials of R-phenylpiracetam are being conducted and totally new forms and line extensions of existing products are being developed.  Among other things the company works at development of a new nootropic medication, new product of nitrofurantoine group and a new food supplement.  New final dosage laboratory is undergoing a significant modernisation.

Annual meeting of shareholders of JSC Olainfarm held on April 29, 2014 approved operating plan of the Group.  According to it, sales of the Group in 2014 are planned to be 93 million euros, but the net profit will reach 15 million euros.  According to this unaudited report for 9 months of 2014, during this period 75.2% of annual sales target and 80.7% 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: Salvis.Lapins@olainfarm.lv

 

Sales of Olainfarm in Ten Months Increase by 25%

14/11/2014

Preliminary consolidated sales results of JSC Olainfarm for October 2014 show that the sales of the company were 8.29 million euros, which represents a reduction by 3% compared to the same period one year ago.  The biggest sales increases were achieved in Italy and Russia, where they grew by 383% and 55% respectively. During October 2014 significant sales were also made to Germany and Australia. The major sales markets of JSC Olainfarm in October 2014 were Russia, Latvia, Belarus and Ukraine.

October 2014, consolidated sales Share in total sales Changes to October 2013
Russia 44% 55%
Latvia 24% 22%
Belarus 7% 10%
Ukraine 7% -62%
Italy 3% 383%
Kazakhstan 2% -67%
Georgia 2% -53%
Germany 2% NA
Australia 1% NA
Turkmenistan 1% 23%
Other 7% -63%
Total 100% -3%

Sales of pharmacy chain of Latvijas aptieka Ltd., fully owned by JSC Olainfarm during October 2014 were 1.48 million euros. 56 pharmacies were operating during this period. Sales of Silvanols Ltd. during October 2014 were 0.4 million euros. Sales were made to 6 European countries.

In ten months of 2014, according to preliminary figures, consolidated sales of JSC Olainfarm were 78.49 million euros, which represents an increase by 25% compared to the same period one year ago. The biggest sales increases during this period were achieved in Poland, where sales increased by 369%, sales to The Netherlands grew by 151%; sales to Ukraine grew by 76%, while sale to Lithuania grew by 45%.  The major sales markets of JSC Olainfarm in ten months of 2014 were Russia, Latvia, Ukraine and Belarus.

10 months of 2014, consolidated sales Share in total sales Changes to 10 months of 2013
Russia 37% 19%
Latvia 22% 21%
Ukraine 14% 76%
Belarus 8% 24%
Kazakhstan 2% -23%
The Netherlands 2% 151%
UK 2% -32%
Poland 2% 369%
Uzbekistan 1% -12%
Lithuania 1% 45%
Other 8% 20%
Total 100% 25%

Sales of pharmacy chain of Latvijas aptieka Ltd., fully owned by JSC Olainfarm in ten months of 2014 were 12.5 million euros. Sales of  Silvanols Ltd. during this period were 2.78 million euros.  Sales were made to 9 European countries.

According to unconsolidated preliminary results of JSC Olainfarm, sales made during October 2104 were 7.21 million euro, which represents a reduction by 7%, compared to the same period one year ago. The biggest sales increases were achieved in Italy and Russia, where they grew by 383% and 55% respectively. During October 2014 significant sales were also made to Germany and Australia. The major sales markets of JSC Olainfarm in October 2014 were Russia, Latvia, Belarus and Ukraine.

October 2014, unconsolidated sales Share in total sales Changes to October 2013
Russia 51% 55%
Latvia 14% 39%
Belarus 8% 10%
Ukraine 8% -62%
Italy 3% 383%
Kazakhstan 2% -67%
Georgia 2% -53%
Germany 2% NA
Australia 2% NA
Turkmenistan 2% 23%
Other 6% -73%
Total 100% -7%

In ten months of 2014, according to preliminary figures, unconsolidated sales of JSC Olainfarm were 68.24 million euros, which represents an increase by 26% compared to the same period of 2013. The biggest sales increases during this period were achieved in Poland, where sales increased by 993%, sales to The Netherlands grew by 151%; sales to Ukraine grew by 76%, while sale to Lithuania grew by 51%.  According to preliminary unconsolidated sales figured, the major sales markets of JSC Olainfarm in ten months of 2014 were Russia, Ukraine, Latvia and Belarus. In total during nine months the sales have been made to 34 countries on five continents

10 months of 2014, unconsolidated sales Share in total sales Changes to 10 months of 2013
Russia 43% 19%
Ukraine 16% 76%
Latvia 12% 34%
Belarus 9% 24%
Kazakhstan 3% -23%
The Netherlands 3% 151%
UK 2% -32%
Poland 2% 993%
Uzbekistan 2% -12%
Lithuania 1% 51%
Other 9% 17%
Total 100% 26%

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 ten months of 2014 JSC Olainfarm has met 84% on annual unconsolidated sales target and 84% 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: Salvis.Lapins@olainfarm.lv

 

 

Announcement about convening of the Extraordinary General Meeting of Olainfarm

14/11/2014

Management Board of the Joint Stock company Olainfarm (registration number. 40003007246, registered address: Rupnicu iela 5, Olaine, LV-2114) announces that the Extraordinary General Meeting of JSC Olainfarm Shareholders will be convened on December 17, 2014 at 11:00 at the premises of JSC Olainfarm in Olaine, Rupnicu iela 5.
Agenda:
1. Elections of the Council.
2. Amendments of the Articles of Association and denomination of the face value of shares from lats to  euro.
3. Regarding approval of the separate audited report of JSC Olainfarm for the Year 2013, prepared in accordance with the International Financial Reporting Standards accepted in European Union.


Registration of the shareholders will take place on the day of the meeting, i.e. December 17, 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 Extraordinary General Meeting or shareholders of JSC Olainfarm is December 9th, 2014. Only those who are the shareholders at the date of record have the right to participate in the Extraordinary General Meeting of shareholders on December 17, 2014, with the number of shares held by them at the date of record.


Shareholders may participate in the Extraordinary 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 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  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 Extraordinary 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 Extraordinary General Meeting of Shareholders itself;
- should the shareholder submit an inquiry at least 7 days before the Extraordinary General Meeting of shareholders, the Management Board shall at least 3 days before the Extraordinary 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 Extraordinary General Meeting of Shareholders from December 03, 2014 until December 16, 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 794 or on the web page of JSC Olainfarm http://www.olainfarm.lv, but on the day of the Extraordinary General Meeting – at the registration desk.

Information about the Extraordinary 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 NASDAQ OMX Riga http://www.nasdaqomxbaltic.com.

 

Management Board of the JSC Olainfarm
In Olaine, November 13th, 2014

EN_Pilnvaras_veidlapa_17122014_EN

Statutu_grozijumi_2014_ENG

About Notification from Elena Dudko, Member of the Supervisory Council

13/11/2014

JSC Olainfarm hereby informs that on November 12th, 2014 it has received a notification from Elena Dudko, member of the Supervisory Council, about her resignation from the position of the member of Supervisoy Council by November 12, 2014.

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

Rekviziti

10/11/2014

AS ”Olainfarm”

Olaines nov., Olaine, Rūpnīcu iela 5,

LV-2114

Reģ.Nr. 40003007246

PVN Reģ.Nr. LV40003007246

AS SEB banka

Kods: UNLALV2X
Konta Nr.LV60UNLA0050003735144

Olainfarm Goes on Baltic – Nordic Roadshow

25/10/2014

During October 27-31 representatives of JSC Olainfarm will go on a roadshow to update Baltic and Nordic investors about company’s recent performance, current status and future prospects.

„An ongoing communication with investors in a manner most convenient for them is a cornerstone of good investor relations, therefore we provide monthly updates on our sales development, deliver timely disclosures and talk to our investors in our quarterly webinars. However, all of that is a distant communication that can not replace relationships that can only be established in live meetings.  Therefore we are going on this roadshow, so we not only present our story, but listen to investors and understand what their expectations are,” says Salvis Lapins, Member of the Board of JSC Olainfarm, Head of company’s Investor relations.

The investors will be introduced to the enclosed presentation, that pays particular attention to company’s operations in Russia and Ukraine as well as to company’s CAPEX programme: Olainfarm_Roadshow_Presentation_2014

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 9 months increase by 30%

15/10/2014

According to preliminary consolidated results of JSC Olainfarm for September 2014, sales of the company have reached 8.47 million euro, which represents an increase by 7% compared to the same period of last year. The biggest sales increase was achieved in The Netherlands, where sales grew by 2940%.  Sales to Poland grew by 681%; sales to Georgia grew by 358% while sales to Kazakhstan grew by 131%.  Major sales markets of JSC Olainfarm in September 2014 were Russia, Latvia, Ukraine and Belarus.

September 2014, consolidated sales Share in total sales Changes to September 2013
Russia 37% 4%
Latvia 24% 23%
Ukraine 8% -41%
Belarus 6% -19%
Poland 4% 681%
The Netherlands 4% 2940%
Kazakhstan 4% 131%
Georgia 2% 358%
Tajikistan 2% 25%
Uzbekistan 2% 7%
Other 8% -31%
Total 100% 7%

Sales of pharmacy chain of Latvijas aptieka Ltd. fully owned by JSC Olainfarm in September were 1.32 million euro.  55 pharmacies were operating during this period. Sales of Silvanols Ltd. during this period were 0.47 million euro and the company was selling its products in 7 European countries.

During nine months of 2014, according to preliminary consolidated results, sales of  JSC Olainfarm were 70.2 million euro, which represents an increase by 32% compared to the same period of 2013.  The most rapid sales increase was achieved in Poland, where sales increased by 714%. Sales to The Netherlands grew by 184%, sales to Ukraine by 119%, and sales to Lithuania grew by 94%. Major sales markets of JSC Olainfarm in nine months of 2014 were Russia, Latvia, Ukraine and Belarus.

9 months of 2014, consolidated results Share in total sales Changes to 9 months of 2013
Russia 36% 15%
Latvia 22% 22%
Ukraine 15% 119%
Belarus 8% 26%
The Netherlands 3% 184%
Kazakhstan 2% -11%
UK 2% 2%
Poland 2% 714%
Uzbekistan 2% 27%
Lithuania 1% 94%
Other 7% 12%
Total 100% 30%

Sales of pharmacy chain of Latvijas aptieka Ltd. fully owned by  JSC Olainfarm in 9 months were 11.1 million euro.  Sales of Silvanols Ltd. in nine months were 2.38 million euro and the company was selling its products in 9 European countries.

According to preliminary unconsolidated results for September 2014, sales of JSC Olainfarm during this period were 7.27 million euro, which represents an increase by 10% compared to the same period one year ago.  The biggest sales increase was achieved in The Netherlands, where sales grew by 2940%.  Sales to Poland grew by 1015%; sales to Georgia grew by 358%, while sales to Kazakhstan grew by 131%. Major sales markets of JSC Olainfarm in September 2014 were Russia, Latvia, Ukraine, Belarus and The Netherlands.  During September 2014 products of JSC Olainfarm were sold to 22 countries on 4 continents.

September 2014, unconsolidated sales Share in total sales Changes to September 2013
Russia 43% 4%
Latvia 13% 35%
Ukraine 9% -41%
Belarus 7% -19%
The Netherlands 5% 2940%
Poland 4% 1015%
Kazakhstan 4% 131%
Georgia 2% 358%
Tajikistan 2% 25%
Uzbekistan 2% 7%
Other 8% -17%
Total 100% 10%

In nine months of 2104, according to preliminary unconsolidated results, the sales of JSC Olainfarm were 61.04 million euro, which represents an increase by 32% compared to the same period one year ago.  The biggest sales increase was achieved in Poland, where sales grew by 3186%. Sales to The Netherlands grew by 184%; sales to Ukraine grew by 119%, while sales to Tajikistan grew by 61%.  According to preliminary unconsolidated results, the major sales markets of JSC Olainfarm in nine months of 2014 were Russia, Ukraine, Latvia and Belarus. During 9 months of 2014 products of JSC Olainfarm were sold to 32 countries on 5 continents.

9 months of 2014, unconsolidated sales Share in total sales Changes of 9 months of 2013
Russia 42% 15%
Ukraine 17% 119%
Latvia 11% 33%
Belarus 9% 26%
The Netherlands 3% 184%
Kazakhstan 3% -11%
UK 3% 2%
Poland 2% 3186%
Uzbekistan 2% 27%
Tajikistani 1% 61%
Other 8% 9%
Total 100% 32%

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 nine months of 2014 JSC Olainfarm has met 76% on annual unconsolidated sales target and 75% 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: Salvis.Lapins@olainfarm.lv

 

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-Phenylpiracetam 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-Phenylpiracetam 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

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_3D_ann

GRIPOFLEKS 500

29/01/2013
Gripofleks_500_3D_ann

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
remantadin

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

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_10mg_3D_ann

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