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Sales of Olainfarm in July Increase by 35%

on August 15, 2016

Preliminary consolidated data of JSC Olainfarm for July 2016 shows that sales have reached 10.05 million euros, which represents an increase by 35% compared to the same period of 2015. The biggest sales increase took place in The Netherlands, where sales grew by 151%. Sales to Poland grew by 97%, but sales to Russia grew by 46%. Major sales markets during July were Russia, Latvia, Ukraine, The Netherlands and Belarus.

July 2016, consolidated sales Sales, thsnd. EUR Changes to July 2015 Share in total sales
Russia 3 564 46% 35%
Latvia 1 943 17% 19%
Ukraine 1 505 24% 15%
The Netherlands 587 151% 6%
Belarus 565 37% 6%
Kazakhstan 316 12% 3%
Uzbekistan 279 37% 3%
Poland 230 97% 2%
Tajikistan 151 -28% 2%
Turkmenistan 124 39% 1%
Other 788 39% 8%
Total 10 052 35% 100%

 

Sales of pharmacy chain of Latvijas aptieka Ltd. in July 2016 were 1.38 million euros, which represents an increase by 6% compared to the same period one year ago. Fifty – eight pharmacies were operating during this period. Sales of green pharma company Silvanols during July 2016 were 0.32 million euros, which represents an increase by 100% compared to the same period of 2015. Products of Silvanols Ltd. during this period were sold to three European countries. Producer of elastic medical products Tonus Elast Ltd. in July 2016 were 0.52 million euros, and its products were sold to 11 countries in three continents.

According to preliminary consolidated data, in seven months of 2016 sales of JSC Olainfarm reached 63.58 million euros, which represents an increase by 9% compared to the same period of one year ago. The most rapid sales increase in seven months was achieved in Uzbekistan, where sales grew by 106%. Sales to Turkmenistan grew by 88%, sales to Ukraine grew by 45% and sales to Belarus grew by 39%. The major sales markets in seven months of 2016 were Russia, Latvia, Ukraine and Belarus.

7 months of 2016, consolidated sales Sales, thsnd. EUR Changes to 7 months of 2016 Share in total sales
Russia 19 583 -1% 31%
Latvia 14 647 13% 23%
Ukraine 10 524 45% 17%
Belarus 5 276 39% 8%
UK 1 535 2% 2%
Uzbekistan 1 450 106% 2%
Kazakhstan 1 358 -7% 2%
The Netherlands 1 090 -74% 2%
Turkmenistan 1 067 88% 2%
Poland 938 6% 1%
Other 6 109 18% 10%
Total 63 577 9% 100%

 

Sales of pharmacy chain of Latvijas aptieka Ltd. in seven months of 2016 were 10.8 million euros, which represents an increase by 14% compared to the same period one year ago. Sales of green pharma company Silvanols during July 2016 were 2.7 million euros, which represents an increase by 23% compared to the same period of 2015. Products of Silvanols Ltd, during this period were sold to eleven European countries and with mediation of JSC Olainfarm, also to Albania, Kosovo, Azerbaijan, Kazakhstan, Belarus and Russia. Producer of elastic medical materials Tonus Elast Ltd, in two months of 2016 were 1.37 million euros.

According to preliminary unconsolidated figures, sales of JSC Olainfarm in July 2016 were 8.54 million euros, which represents an increase by 28% compared to the same period of 2015. The biggest sales increase was achieved in The Netherlands, where the sales grew by 151%. Sales to Poland increased by 97%, but sales to Turkmenistan increased by 39%. The biggest sales markets were Russia, Ukraine, Latvia, The Netherlands and Belarus. In total, during July 2016, products of JSC Olainfarm were sold to 26 countries in three continents.

July 2016, unconsolidated sales Sales, thsnd. EUR Changes to July 2015 Share in total sales
Russia 3 359 37% 39%
Ukraine 1 505 24% 18%
Latvia 868 -7% 10%
The Netherlands 587 151% 7%
Belarus 565 37% 7%
Uzbekistan 279 37% 3%
Kazakhstan 256 -10% 3%
Poland 230 97% 3%
Tajikistan 151 -28% 2%
Turkmenistan 124 39% 1%
Other 614 19% 7%
Total 8 538 28% 100%

 

According to unconsolidated preliminary figures, in seven months of 2016 sales of JSC Olainfarm were 54.71 million euros, which represents an increase by 6% compared to the same period of 2015. The most rapid sales increase was achieved in Poland, where sales grew by 161%. Sales to Uzbekistan grew by 106% and sales to Turkmenistan grew by 88%. Major sales markets of JSC Olainfarm in seven months of 2016 were Russia, Ukraine, Latvia and Belarus. In total in seven months of 2016 products of JSC Olainfarm were sold to 38 countries in four continents.

7 months of 2016, unconsolidated sales Sales, thsnd. EUR Changes to 7 months of 2015 Share in total sales
Russia 19 182 -3% 35%
Ukraine 10 440 44% 19%
Latvia 7 637 7% 14%
Belarus 5 265 38% 10%
UK 1 507 0% 3%
Uzbekistan 1 450 106% 3%
Kazakhstan 1 215 -17% 2%
The Netherlands 1 090 -74% 2%
Turkmenistan 1 067 88% 2%
Poland 721 161% 1%
Other 5 138 6% 9%
Total 54 712 6% 100%

 

General meeting of shareholders of JSC Olainfarm held on June 7, 2016 approved operating plan of the company, providing that unconsolidated sales of the company in 2016 will reach 86 million euros, while consolidated sales of the company will reach 100 million euros. According to these preliminary sales numbers, in seven months of 2016 the company has met 64% of annual target for unconsolidated sales and 64% 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

 

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