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Sales of Olainfarm in 2015 Exceeds 98 Million Euros

on January 15, 2016

Preliminary consolidated results of JSC Olainfarm for December 2015 show that sales of the company have reached 7.4 million euros, which represents a reduction by 5% compared to the same period one year ago. The biggest sales increase was achieved in Albania, where sales grew by 153%. Sales to The Netherlands grew by 145%, sales to Georgia by 138% and sales to Tajikistan by 89%. Significant shipments during this period have also been made to Uzbekistan. Major sales markets of JSC Olainfarm during December 2015 were Russia, Latvia, and The Netherlands.

December 2015, consolidated sales Share in total sales Changes to December 2014
Russia 40% 24%
Latvia 31% 30%
The Netherlands 7% 145%
Tajikistan 3% 89%
Poland 3% 37%
Ukraine 2% -89%
Uzbekistan 2% NA
Georgia 1% 138%
Belarus 1% -91%
Albania 1% 153%
Other 8% 3%
Total 100% -5%

 

Sales of pharmacy chain of Latvijas aptieka Ltd. in December 2015 were 1.62 million euros, which represents an increase by 42% compared to the same period one year ago.  62 pharmacies were operating during December. Sales of Silvanols Ltd. during December were 0.52 million euros, which represents an increase by 24% compared to December 2014. During this period products of Silvanols Ltd. were sold to four European countries and with assistance from Olainfarm, also to Belarus and Azerbaijan.

In twelve months of 2015, according to preliminary figures, the consolidated sales of JSC Olainfarm reached 98.09 million euros, which represents an increase by 5% compared to the same period of 2014. The most rapid sales increase in 2015 was achieved in The Netherlands, where sales grew by 107%. Major sales markets of JSC Olainfarm during 2015 were Russia, Latvia, Ukraine, Belarus and The Netherlands.

12 months of 2015, consolidated sales Share in total sales Changes to 12 months of 2014
Russia 34% -1%
Latvia 24% 11%
Ukraine 13% -7%
Belarus 6% -19%
The Netherlands 6% 107%
Kazakhstan 2% 7%
UK 2% -6%
Poland 1% -13%
Uzbekistan 1% 3%
Tajikistan 1% 39%
Other 9% 23%
Total 100% 5%

 

During 12 months of 2015, sales of pharmacy chain of Latvijas aptieka Ltd. were 16.9 million euros, which represents and increase by 13% compared to 12 months of 2014. Sales of Silvanols Ltd. during 2015 was 4.4 million euros, which represents an increase by 26% compared to 2014, when Silvanols Ltd. made sales worth 3.5 million euros. Products of Silvanols Ltd. during 2015 were sold to 13 countries on two continents, and with the help of JSC Olainfarm also to Belarus, Kazakhstan and Azerbaijan.

According to unconsolidated preliminary results, sales of JSC Olainfarm during December 2015 were 6.08 million euros, which represents a reduction by 12% compared to December 2014. The biggest sales increase was achieved in Albania, where sales grew by 153%. Sales to The Netherlands grew by 145%, sales to Georgia grew by 138%, while sales to Tajikistan grew by 89%. Significant shipments during this period were also made to Uzbekistan. The major sale markets of JSC Olainfarm in December 2015 were Russia, Latvia, and The Netherlands. In total during this period JSC Olainfarm sold its products in 24 countries on three continents.

December 2015, unconsolidated sales Share in total sales Changes to December 2014
Russia 49% 24%
Latvia 18% 13%
The Netherlands 8% 145%
Tajikistan 4% 89%
Ukraine 3% -89%
Poland 2% 4%
Uzbekistan 2% NA
Georgia 2% 138%
Belarus 1% -91%
Albania 1% 153%
Other 9% 13%
Total 100% -12%

 

According to preliminary unconsolidated results, during 12 months of 2015, sales of JSC Olainfarm were 85.67 million euros, which represents an increase by 5% compared to the same period of 2014. The most rapid sales increase in 2015 was achieved in The Netherlands, where sales grew by 107%. Sales to Turkmenistan grew by 46%, sales to Tajikistan grew by 39% and sales to Latvia grew by 25%. According to preliminary unconsolidated results, the major sales markets of JSC Olainfarm in 2015 were Russia, Ukraine, Latvia, Belarus and The Netherlands. In total during 2015 JSC Olainfarm sold its products in 42 countries on five continents.

12 months of 2015, unconsolidated sales Share in total sales Changes to 12 months of 2014
Russia 39% -1%
Ukraine 15% -7%
Latvia 14% 25%
Belarus 7% -19%
The Netherlands 7% 107%
Kazakhstan 3% 7%
UK 2% -6%
Uzbekistan 2% 3%
Tajikistan 2% 39%
Turkmenistan 1% 46%
Other 9% 9%
Total 100% 5%

 

Annual General Meeting of shareholders of JSC Olainfarm, held on June 11, 2015 approved operating plan of the company, according to which the unconsolidated sales of the company in 2015 will reach 87 million euros, while consolidated sales will reach 100 million euro. According to these preliminary sales figures, the company has attained 98% of annual target for unconsolidated sales and 98% of 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

SigitaSales of Olainfarm in 2015 Exceeds 98 Million Euros