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Olainfarm Sells 9.83 Million in March

on April 18, 2017

Preliminary consolidated results for March 2017 show that sales of JSC Olainfarm reached 9.83 million euros, which represents an increase by 9% compared to March 2016. The biggest sales increase was achieved in The Netherlands, where sales increased by 285%. Sales to Italy grew by 268%, but sales to Russia grew by 42%. The biggest reduction of sales took place in Ukraine, where sales dropped by 75%. Significant shipments were also made to Georgia and Tajikistan. The major sales markets of Olainfarm group in March 2017 were Russia, Latvia and The Netherlands.

March 2017, consolidated sales Sales, thsnd. EUR Changes to March 2016 Share in total sales
Russia 2 719 42% 28%
Latvia 2 496 12% 25%
The Netherlands 845 286% 9%
Belarus 721 23% 7%
Ukraine 631 -75% 6%
Italy 467 268% 5%
Turkmenistan 279 -12% 3%
Kazakhstan 203 13% 2%
Georgia 176 NA 2%
Tajikistan 147 NA 1%
Other 1 145 17% 12%
Total 9 829 9% 100%

 

Sales of pharmacy chain of Latvijas aptieka during March 2017 were 1.78 million euros, which represents an increase by 9% compared to March 2016. Sixty-five pharmacies were operating during this period. Sales of Silvanols in March 2017 were 0.53 million euros, which represents an increase by 20% compared to March of 2016. Suring this period Silvanols sold its products in five European countries and with the help of JSC Olainfarm also to Russia, Lithuania, Belarus and Armenia. Sales of Tonus Elast in March 2017 were 0.96 million euros, and the company sold its products to 19 countries in three continents.

In three months of 2017, according to preliminary results, consolidated sales of JSC Olainfarm reached 26.95 million euros, which represents an increase by 3% compared to the same period of 2016. The biggest sales increase during this period was achieved in Georgia, where sales grew by 694%. Sales to The Netherlands grew by 271%, sales to Italy grew by 120% and sales to Germany grew by 99%. The biggest sales reduction took place in Ukraine, where sales dropped by 59%. The major markets of Olainfarm group in three months of 2017 were Russia, Latvia, Belarus and Ukraine.

3 months of 2017, consolidated sales Sales, thsnd. EUR Changes to 3 months of 2016 Share in total sales
Russia 7 676 22% 28%
Latvia 7 445 12% 28%
Belarus 3 202 6% 12%
Ukraine 2 000 -59% 7%
The Netherlands 1 758 271% 7%
Italy 541 120% 2%
Kazakhstan 449 -21% 2%
Lithuania 402 11% 1%
Germany 394 99% 1%
Georgia 382 694% 1%
Other 2 696 -20% 10%
Total 26 945 3% 100%

 

In three months of 2017 sales of pharmacies of Latvijas aptieka reached 5.17 million euros, which represents an increase by 3% compared to three months of 2016. Sales of Silvanols in three months of 2017 were 1.6 million euros, which represents an increase by 31% compared to three months of 2016. Products of Silvanols were sold to nine European countries and with the help of JSC Olainfarm also to Lithuania, Russia, Belarus and Armenia. Sales of Tonus Elast in 3 months were 1.9 million euros, and company’s products were sold to 26 countries in four continents.

According to preliminary unconsolidated results for March 2017, sales of JSC Olainfarm during this period were 7.58 million euros, which represents a reduction by 6% compared to March of 2016. The biggest sales increase was achieved in The Netherlands, where sales grew by 286%, but sales to Italy grew by 266%. Biggest sales reduction occurred in Ukraine, where sales dropped by 79%. During March 2017, the company also made significant shipments to Georgia and Tajikistan. The biggest sales markets were Russia, Latvia, The Netherlands and Belarus. During March 2017, products of JSC Olainfarm were sold to 27 countries in four continents.

March 2017, unconsolidated sales Sales, thsnd. EUR Changes to March 2016 Share in total sales
Russia 2 287 19% 30%
Latvia 1 193 -3% 16%
The Netherlands 845 286% 11%
Belarus 683 17% 9%
Ukraine 539 -79% 7%
Italy 464 266% 6%
Turkmenistan 279 -12% 4%
Georgia 177 NA 2%
Tajikistan 147 NA 2%
Lithuania 119 -24% 2%
Other 842 -2% 11%
Total 7 575 -6% 100%

 

According to preliminary unconsolidated results for three months of 2017, sales of JSC Olainfarm during this period were 21.3 million euros, which represents a reduction by 6% compared to the respective period of 2016. The most rapid sales increase during this period was achieved in Georgia, where sales grew by 596%. Sales to The Netherlands grew by 271%, but sales to Italy increased by 106%. The biggest sales reduction took place in Ukraine, where sales dropped by 61%. Major sales markets of JSC Olainfarm during this period were Russia, Latvia, Belarus, Ukraine and The Netherlands. In total in three months of 2017, JSC Olainfarm sold its products to 37 countries in four continents.

3 months of 2017, unconsolidated sales Sales, thsnd. EUR Changes to 3 months of 2016 Share in total sales
Russia 6 915 10% 32%
Latvia 3 684 4% 17%
Belarus 3 151 4% 15%
Ukraine 1 908 -61% 9%
The Netherlands 1 758 271% 8%
Italy 508 106% 2%
Germany 390 97% 2%
Georgia 335 596% 2%
Lithuania 327 5% 2%
Turkmenistan 279 -42% 1%
Other 2 045 -36% 10%
Total 21 300 -6% 100%

 

According to preliminary estimates, unconsolidated sales of JSC Olainfarm in 2017 might reach 96 million euros, while consolidated sales might reach 127 million euros. According to the preliminary sales numbers published here, during three months of 2017, the company has already made 22% of its unconsolidated sales estimate and 21% of its annual consolidated sales estimate.

 

JSC Olainfarm is one of the biggest pharmaceutical companies in the Baltic States with 45 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company’s operations is to produce reliable and effective top quality products for Latvia and the rest of the world. Products made by the Group are being exported to more than 40 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

 

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

 

 

 

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