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Sales of Olainfarm in April Reach 8.82 Million Euros

on May 16, 2016

According to preliminary consolidated results of JSC Olainfarm for April 2016, sales of the company have reached 8.82 million euros, which represents a reduction by 4% compared to April of 2015. The biggest sales increase was achieved in Italy, where sales grew by 388%. Sales to Uzbekistan grew by 191%; sales to Turkmenistan grew by 77% while sales to Lithuania grew by 69%. The major sales markets in April were Russia, Latvia, Ukraine, Belarus and Uzbekistan.

April 2016, consolidated sales Sales, thsnd. EUR Changes to April, 2015 Share in total sales
Russia 2 969 -15% 34%
Latvia 2 160 7% 24%
Ukraine 1 285 31% 15%
Belarus 669 -9% 8%
Uzbekistan 426 191% 5%
Italy 284 388% 3%
Turkmenistan 172 77% 2%
Kazakhstan 98 -51% 1%
Lithuania 88 69% 1%
Kyrgyzstan 78 -39% 1%
Other 593 -51% 7%
Total 8 823 -4% 100%

 

Sales of chain of pharmacies of Latvijas aptieka Ltd., fully owned by JSC Olainfarm were 1.58 million euros, which represents an increase by 13% compared to April of 2015. Sixty-one pharmacies were operating during this period. Sales of Silvanols Ltd. during April of 2016 were 0.39 million euros, which represents an increase by 18% compared to April of last year. During April of this year, Silvanols Ltd. sold its products in six European countries, and, with a help of JSC Olainfarm, also to Albania, Kosovo and Azerbaijan.

In four months of 2016, according to preliminary consolidated results, consolidated sales of JSC Olainfarm were 35.05 million euros, which represents a reduction by 5% compared to the same period of 2015. The biggest sales increase was achieved in Italy, where sales grew by 328%. Sales to Uzbekistan grew by 158%, sales to Turkmenistan grew by 133% while sales to Belarus grew by 51%. Major sales markets in four months of 2016 were Russia, Latvia, Ukraine and Belarus.

4 months of 2016, consolidated sales Sales, thsnd. EUR Changes to 4 months of 2015 Share in total sales
Russia 9 274 -32% 26%
Latvia 8 780 11% 25%
Ukraine 6 274 44% 18%
Belarus 3 696 51% 11%
UK 939 12% 3%
Uzbekistan 904 158% 3%
Kazakhstan 667 -24% 2%
Turkmenistan 654 133% 2%
Italy 530 328% 2%
The Netherlands 473 -83% 1%
Other 2 856 -9% 8%
Total 35 047 -5% 100%

 

During 4 months of 2016, sales of pharmacy chain of Latvijas aptieka Ltd. were 6.6 million euros, which represents an increase by 18% compared to the same period of 2015. Sales of Silvanols Ltd. during this 4 months period were 1.6 million euros, which represents an increase by 14% compared to 2015, when its sales during four months were 1.4 million euros. Products of Silvanols Ltd. were sold to nine European countries and with the help from JSC Olainfarm to Albania, Kosovo, Azerbaijan and Belarus.

According to unconsolidated preliminary results, sales of JSC Olainfarm during April 2016 reached 7.67 million euros, which represents a reduction by 5% compared to the same period of last year. The biggest sales increase was achieved in Italy, where sales increased by 388%. Sales to Uzbekistan increased by 191%, but sales to Turkmenistan increased by 77%. The major sales markets were Russia, Ukraine, Latvia, Belarus and Uzbekistan. During April 2016, JSC Olainfarm sold its products to 27 countries in three continents.

April 2016, unconsolidated sales Sales, thsnd. EUR Changes to April, 2015 Share in total sales
Russia 2 969 -15% 39%
Ukraine 1 285 31% 17%
Latvia 1 103 2% 14%
Belarus 669 -9% 9%
Uzbekistan 426 191% 6%
Italy 284 388% 4%
Turkmenistan 172 77% 2%
Kazakhstan 98 -51% 1%
Kyrgyzstan 78 -39% 1%
Moldova 72 31% 1%
Other 508 -51% 7%
Total 7 665 -5% 100%

 

According to unconsolidated preliminary results sales of JSC Olainfarm in four months of 2016 were 30.39 million euros, which represents a reduction by 7% compared to the same period of 2015. The biggest sales increase was achieved in Italy, where sales grew by 328%. Sales to Uzbekistan grew by 158%; sales to Turkmenistan grew by 133%, while sales to Belarus grew by 51%. Major sales markets of JSC Olainfarm in four months of 2016 were Russia, Ukraine, Latvia and Belarus. In total, during four months of 2016 products of JSC Olainfarm were sold to 37 countries in three continents.

4 months of 2016, unconsolidated sales Sales, thsnd. EUR Changes to 4 months of 2015 Share in total sales
Russia 9 274 -32% 31%
Ukraine 6 190 42% 20%
Latvia 4 650 9% 15%
Belarus 3 696 51% 12%
UK 939 12% 3%
Uzbekistan 904 158% 3%
Kazakhstan 667 -24% 2%
Turkmenistan 654 133% 2%
Italy 530 328% 2%
The Netherlands 473 -83% 2%
Other 241 -6% 8%
Total 30 387 -7% 100%

 

According to preliminary estimates of JSC Olainfarm, unconsolidated sales of company in 2016 could reach 90 million euros, while consolidated sales are expected to reach 103 million euros. According to preliminary sales figures published here, in four months of 2016, the Company has attained 34% of its target for unconsolidated sales and 34% of its 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 April Reach 8.82 Million Euros