News

Olainfarm Announces Forecasts For 2014

on February 12, 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.

 

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

 

SigitaOlainfarm Announces Forecasts For 2014