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In February Olainfarm Makes Sales of 3.5 Million Lats

on March 15, 2013

Preliminary consolidated results of JSC 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  JSC 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 JSC 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 JSC 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 JSC 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 JSC 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 JSC 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.

 

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

SigitaIn February Olainfarm Makes Sales of 3.5 Million Lats