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Olainfarm’s Sales in February are 8 Million Euros

on March 15, 2017

Preliminary consolidated results of JSC Olainfarm for February 2017 show that sales of the group have reached 8 million euros, which represents a reduction by 8% compared to the same period of 2016. The biggest sales increases were achieved in Georgia, where sales grew by 25% and in Russia, where sales grew by 23%. The biggest reduction in sales took place in Ukraine, where sales shrunk by 33% and in Lithuania, where sales were for 30% smaller this year. Significant shipments during this period were also made to Bulgaria, Moldova and Germany. The major sales markets of the group in February 2017 were Russia, Latvia, Ukraine and Belarus.

February 2017, consolidated sales Sales, thsnd. EUR Changes to February 2016 Share in total sales
Russia 2 617 23% 33%
Latvia 2 498 9% 31%
Ukraine 1 052 -33% 13%
Belarus 867 -6% 11%
Kazakhstan 137 -24% 2%
Bulgaria 114 NA 1%
Moldova 97 NA 1%
Lithuania 88 -30% 1%
Germany 86 NA 1%
Georgia 65 35% 1%
Other 385 -60% 5%
Total 8 006 -3% 100%

 

Sales by pharmacies of Latvijas aptieka Ltd. in February 2017 were 1.68 million euros, which represents a reduction by 3% compared to the same period one year ago. Sixty-eight pharmacies were operating during February. Sales of Silvanols Ltd. during February 2017 were .57 million euros, which is an increase by 21% compared to 2016. During this period, Silvanols Ltd. sold its products to six European countries and with assistance of JSC Olainfarm also to Belarus. Sales of Tonus Elast Ltd. in February were 0.77 million euros. This company sold its products to 17 countries in three continents.

During the first two months of 2017, the consolidated sales of the group reached 17.1 million euros, which represents an increase by 0.3% compared to consolidated sales of two months of 2016. The biggest sales increases were achieved in Georgia, where sales grew by 327% and in The Netherlands, where sales grew by 258%. The biggest reduction in sales took place in Ukraine, where sales shrunk by 42% and in Kazakhstan, where sales shrunk by 37%. The major sales markets of AS Olainfarm in two months of 2017 were Russia, Latvia, Belarus and Ukraine.

2 months of 2017, consolidated sales Sales, thsnd. EUR Changes to 2 months of 2016 Share in total sales
Russia 4 958 13% 29%
Latvia 4 949 13% 29%
Belarus 2 481 3% 14%
Ukraine 1 369 -42% 8%
The Netherlands 912 258% 5%
Poland 288 25% 2%
Germany 287 45% 2%
Lithuania 255 35% 1%
Kazakhstan 246 -37% 1%
Georgia 205 327% 1%
Other 1 165 -46% 7%
Total 17 116 0% 100%

 

Sales of pharmacies of Latvijas aptieka Ltd. in two months of 2017 were 3.4 million euros, which is comparable to their sales during the same period of 2016. Sales of Silvanols Ltd. during two months was 1.06 million euros, which represents an increase by 34% compared to two months of last year, when Silvanols’ sales were 0.79 million euros. Silvanols Ltd. sold its products to nine European countries, and, with the help of JSC Olainfarm, also to Russia and Belarus. Sales of Tonus Elast Ltd. in two months of 2017 were 0.94 million euros. This company made its sales to 21 countries in four continents.

According to unconsolidated preliminary results, sales of JSC Olainfarm during February 2017 were 6 million euros, which represents a reduction by 14% compared to the same period of 2016. The biggest sales increases were achieved in Azerbaijan, where sales grew by 67% and in Russia, where sales grew by 8%. The biggest sales reductions took place in Kazakhstan, where sales shrunk by 64% and in Lithuania, where sales shrunk by 39%. During February 2017, significant shipments were also made to Bulgaria, Germany and Moldova. The major sales markets during this period were Russia, Latvia, Ukraine and Belarus. In total JSC Olainfarm sold its products to 23 countries in Europe and Asia.

February, 2017, unconsolidated sales Sales, thsnd. EUR Changes to February, 2016 Share in total sales
Russia 2 288 8% 38%
Latvia 1 212 7% 20%
Ukraine 1 052 -30% 18%
Belarus 853 -8% 14%
Bulgaria 106 NA 2%
Germany 86 NA 1%
Lithuania 66 -39% 1%
Kazakhstan 65 -64% 1%
Moldova 55 NA 1%
Azerbaijan 41 67% 1%
Other 164 -83% 3%
Total 5 988 -14% 100%

 

According to unconsolidated preliminary results, sales of JSC Olainfarm in two months of 2017 were 13.7 million euros, which represents a reduction by 7% compared to the same period of 2016. The biggest sales increases were achieved in The Netherlands, where sales grew by 258% and in Georgia, where sales grew by 229%. The biggest sales reduction took place in Kazakhstan, where sales shrunk by 62% and in Ukraine, where sales shrunk by 40%. Biggest sales markets of JSC Olainfarm in two months of 2017 were Russia, Latvia, Belarus and Ukraine. In total in two months of 2017, JSC Olainfarm sold its products to 33 countries in four continents.

2 months of 2017, unconsolidated sales Sales, thsnd. EUR Changes to 2 months of 2016 Share in total sales
Russia 4 628 6% 34%
Latvia 2 491 7% 18%
Belarus 2 467 1% 18%
Ukraine 1 369 -40% 10%
The Netherlands 913 258% 7%
Germany 284 43% 2%
Poland 264 47% 2%
Lithuania 208 34% 2%
Georgia 159 229% 1%
Kazakhstan 150 -62% 1%
Other 792 -61% 6%
Total 13 725 -7% 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 two months of 2017, the company has already made 14% of its unconsolidated sales estimate and 13% of its annual consolidated sales estimate.

 

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

 

Eva DombrovskaOlainfarm’s Sales in February are 8 Million Euros