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Olainfarm Starts 2016 With 14% Sales Growth

on February 15, 2016

According to preliminary consolidated sales figures of JSC Olainfarm for January 2016, the sales have reached 8.84 million euro, which represents an increase by 14% compared to the same period of last year. The major sales increase was achieved in Belarus, where sales grew by 1001%. Sales to Turkmenistan grew by 674%, sales to Kazakhstan grew by 286%, while sales to Italy grew by 257%. During January 2016, significant shipments have also been made to Poland and Germany. The major sales markets during January 2016 were Russia, Belarus, UK and Ukraine.

January 2016, consolidated sales Sales, thsnd. EUR Changes to January 2015 Share in total sales
Russia 2 260 -1% 26%
Latvia 2 122 1% 24%
Belarus 1 520 1001% 17%
UK 866 3% 10%
Ukraine 786 -30% 9%
Poland 230 NA 3%
Kazakhstan 207 286% 2%
Germany 198 NA 2%
Turkmenistan 165 674% 2%
Italy 117 257% 1%
Other 368 -68% 4%
Total 8 840 14% 100%

 

Sales of pharmacy chain of Latvijas aptieka Ltd. during January 2016 were 1.66 million EUR, which represents an increase by 16% compared to the same period of 2015. 62 pharmacies were operating during January. Sales of Silvanols Ltd. during January 2016 were 0.32 million euros, which represents a reduction by 18% compared to January 2015. During January 2016 Silvanols Ltd. sold its products to six European countries, and with mediation of JSC Olainfarm also to Kazakhstan and Belarus.

According to preliminary unconsolidated results, sales of JSC Olainfarm in January 2016 were 7.76 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 gre by 1001%.  Sales to Turkmenistan grew by 674%, sales to Kazakhstan grew by 286%, but sales to Italy grew by 257%. During January 2016, significant shipments were also made to Poland and Germany. The major sales markets of JSC Olainfarm during this period were Russia, Belarus, Latvia, UK and Ukraine. During January of 2016, products of JSC Olainfarm were sold to 21 countries in Europe and Asia.

January 2016, unconsolidated sales Sales, thsnd. EUR Changes to January 2015 Share in total sales
Russia 2 260 -1% 29%
Belarus 1 520 1001% 20%
Latvia 1 192 1% 15%
UK 866 3% 11%
Ukraine 786 -30% 10%
Kazakhstan 207 286% 3%
Germany 198 NA 3%
Poland 180 NA 2%
Turkmenistan 165 674% 2%
Italy 117 257% 2%
Other 265 -69% 3%
Total 7 758 19% 100%

 

According to preliminary estimates of JSC Olainfarm, unconsolidated sales of the company in 2016 will reach 90 million euros, while consolidated sales will reach 103 million euros. According to these preliminary sales figures, during January 2016 the company has attained 9% of its annual target for unconsolidated sales and 9% of its 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

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