News

Sales of Olainfarm in January Reach 9.15 Million Euro

on February 15, 2017

Preliminary consolidated results of JSC Olainfarm for January 2017 show that sales of the company during this period were 9.15 million euros, which represents an increase by 4% compared to the same period of 2016. The biggest sales increase was achieved in Georgia, where sales grew by 615%. Sales to Lithuania grew by 161%, but sales to Poland grew by 25%. Significant shipments were also made to The Netherlands. The biggest sales markets of JSC Olainfarm during January 2017 were Latvia, Russia, Belarus and The Netherlands.

January 2017, consolidated sales Sales, thsnd. EUR Changes to January 2016 Share in total sales
Latvia 2 467 16% 27%
Russia 2 341 4% 26%
Belarus 1 614 6% 18%
The Netherlands 880 NA 10%
Ukraine 344 -56% 4%
Poland 288 25% 3%
Germany 201 2% 2%
Lithuania 167 161% 2%
Georgia 140 615% 2%
Kazakhstan 108 -48% 1%
Other 602 -58% 7%
Total 9 152 4% 100%

Sales of pharmacy chain of Latvijas aptieka in January were 1.72 million euro, which represents an increase by 4% compared to January 2016. Sixty six pharmacies were operating during this period. Sales of Silvanols in January 2017 were 0.5 million euro, which represents an increase by 56% compared to the same period of 2016. Silvanols sold its products in eight European countries and with the help of JSC Olainfarm also to Lithuania, Russia, and Belarus. Sales of Tonus Elast during January 2017 were 0.17 million euros, and its products were sold to 12 countries in four continents.

According to unconsolidated preliminary results, sales of JSC Olainfarm in January 2017 were 7.78 million euro, which is comparable to the sales made during January 2016. The biggest sales increase was achieved in Georgia, where sales grew by 565%. Sales to Lithuania grew by 200%, sales to Poland grew by 47%. During this period, significant shipments were also made to The Netherlands and Argentina. The major sales markets of JSC Olainfarm during January 2017 were Russia, Belarus, Latvia and The Netherlands. During January 2017, JSC Olainfarm sold its products to 27 countries in four continents.

January 2017, unconsolidated sales Sales, thsnd. EUR Changes to January 2016 Share in total sales
Russia 2 341 4% 30%
Belarus 1 614 6% 21%
Latvia 1 294 9% 17%
The Netherlands 880 NA 11%
Ukraine 344 -56% 4%
Poland 265 47% 3%
Germany 198 0% 3%
Lithuania 142 200% 2%
Georgia 130 565% 2%
Argentina 86 NA 1%
Other 485 -69% 6%
Total 7 779 0% 100%

According to preliminary estimates, unconsolidated sales of JSC Olainfarm in 2017 might reach 94 million euros, while consolidated sales might reach 120 million euros. According to the preliminary sales numbers published here, during January 2017, the company has already made 8% of its unconsolidated sales estimate and 8% of its annual consolidated sales estimate.

 

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

Share this post:
SigitaSales of Olainfarm in January Reach 9.15 Million Euro