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Sales of Olainfarm in February Reached 8.23 Million Euros

on March 15, 2016

Preliminary consolidated results of JSC Olainfarm for February 2016 show that sales of the group have reached 8.23 million euros, which represents a reduction by 28% compared to February of 2015. The biggest sales increase was achieved in Uzbekistan, where sales grew by 387%. During February significant shipments have also been made to Tajikistan. The major sales markets of JSC Olainfarm during this period were Latvia, Russia, Ukraine and Belarus.

February 2016, consolidated sales Sales, thsnd. EUR Changes to February 2015 Share in total sales
Latvia 2 282 21% 28%
Russia 2 125 -59% 26%
Ukraine 1 580 -8% 19%
Belarus 923 17% 11%
The Netherlands 255 -59% 3%
Kazakhstan 182 8% 2%
Uzbekistan 165 387% 2%
Tajikistan 135 NA 2%
Lithuania 125 16% 2%
Other 456 -83% 6%
Total 8 226 -28% 100%

 

Sales of pharmacy chain of Latvijas aptieka Ltd. during February 2016 were 1.74 million euro, which represents an increase by 30% compared to February of 2015. Sixty-two pharmacies were operating during this period. Sales of Silvanols Ltd. in February 2016 were 0.47 million euros, which represents an increase by 9% compared to February of 2015. During February of 2016,  Silvanols Ltd. was selling its products to four European countries and with assistance from JSC Olainfarm also to Azerbaijan and Belarus.

According to preliminary consolidated results, sales of the group of JSC Olainfarm during two months of 2016 were 17.06 million euros, which represents a reduction by 11% compared to the same period of 2015. The biggest sales increase during this period was achieved in Poland, where sales grew by 226%. Sales to Belarus increased by 164%, sales to Kazakhstan increased by 75%. During two months of 2016, significant shipments were also made to Germany and Tajikistan. Major sales markets of JSC Olainfarm during two months of 2016 were Latvia, Russia, Belarus, Ukraine and the UK.

2 months of 2016, consolidated sales Sales, thsnd. EUR Changes to 2 months of 2015 Share in total sales
Latvia 4 397 10% 26%
Russia 4 385 -41% 26%
Belarus 2 443 164% 14%
Ukraine 2 366 -17% 14%
UK 893 6% 5%
Kazakhstan 389 75% 2%
The Netherlands 255 -77% 1%
Germany 198 NA 1%
Tajikistan 197 NA 1%
Poland 230 226% 1%
Other 1 307 -22% 8%
Total 17 060 -11% 100%

 

During two months of 2016, sales of Latvijas aptieka Ltd. reached 3.4 million euros, which represents an increase by 21% compared to the same period one year ago. Sales of Silvanols Ltd. during two months of this year were 0.79 million euros, which represents a reduction by 4% compared to the same period of 2015, where this company made sales of 0.82 million euros. During two months of 2016, products of Silvanols Ltd. were sold to eight European countries and with the help of JSC Olainfarm also to Azerbaijan and Belarus.

According to unconsolidated preliminary results for February 2016, sales of JSC Olainfarm during this period were 6.93 million euros, which represents a reduction by 33% compared to the same period of 2015. The biggest sales increases were achieved in Uzbekistan, where sales grew by 387% and Lithuania, where sales grew by 65%. During February 2016, JSC Olainfarm also made significant shipments to Tajikistan. Major sales markets during this period were Russia, Ukraine, Latvia and Belarus. Products of JSC Olainfarm were sold to 24 countries on three continents.

February 2016, unconsolidated sales Sales, thsnd. EUR Changes to February 2015 Share in total sales
Russia 2 125 -59% 31%
Ukraine 1 496 -13% 22%
Latvia 1 127 19% 16%
Belarus 923 17% 13%
The Netherlands 255 -59% 4%
Kazakhstan 182 8% 3%
Uzbekistan 165 387% 2%
Tajikistan 135 NA 2%
Lithuania 108 65% 2%
Other 413 -46% 6%
Total 6 927 -33% 100%

 

According to preliminary unconsolidated results, sales of JSC Olainfarm in two months of 2016 were 14.68 million euros, which represents a reduction by 13% compared to the respective period of 2015. The most rapid sales increases during two months of this year were achieved in Belarus, where sales grew by 164%, and Kazakhstan where sales grew by 75%. During two months of 2016 significant shipments were also made to Germany, Tajikistan and Poland. Major sales markets of JSC Olainfarm during two months of 2016 were Russia, Belarus, Latvia, and the UK. In total, during two months of 2016, products of JSC Olainfarm were sold to 30 countries on three continents.

2 months of 2016, unconsolidated sales Sales, thsnd. EUR Changes to 2 months of 2015 Share in total sales
Russia 4 385 -41% 30%
Belarus 2 443 164% 17%
Latvia 2 313 9% 16%
Ukraine 2 282 -20% 16%
UK 893 6% 6%
Kazakhstan 389 75% 3%
The Netherlands 255 -77% 2%
Germany 198 NA 1%
Tajikistan 197 NA 1%
Poland 180 NA 1%
Other 1 145 -10% 8%
Total 14 679 -13% 100%

 

In accordance with preliminary estimates by JSC Olainfarm, unconsolidated sales of the company in 2016 might reach 90 million euros, while consolidated sales of the group could be as high as 103 million euros. According to these preliminary sales figures, in two months of 2016, 17% of annual target for unconsolidated sales and 16% of annual target for consolidated sales have been achieved.

 

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 35 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 February Reached 8.23 Million Euros