On March 6 JSC Olainfarm organized its fourth quarter 2011 Investor Conference Online Webinar for investors. During the webinar the member of the management board of JSC Olainfarm Salvis Lapiņš analysed the financial results of fourth quarter and 12 months of 2011 and informed about the company’s plans for 2012.
According to Salvis Lapiņš, this year in dividends it is planned to pay out 10-15% of company’s profit of 2011, if it will be approved by Olainfarm’s shareholders in the next annual general meeting.
During the webinar, Salvis Lapiņš also informed that the company is moving forward with the liquidity provider program and it is planned to launch the market making of company’s shares in April 2012.
In relation to acquisition of pharmacies, Salvis Lapiņš revealed that the total sum spent on the acquisition reached 4.5 million LVL, from which 80% was bank’s financing, while the rest 20% was covered by Olainfarm. It is planned that during 2012 total sales of all pharmacies will reach 7 million lats.
Answering the question about the economical sanctions against Belarus and their possible impact on the company, Salvis Lapiņš informed that it is unlikely that sanctions will also include the embargo of medicine import, therefore Olainfarm most probably won’t be directly affected by them.
The recorded Olainfarm webinar is available online: http://ej.uz/OLFQ42011ieraksts, and the presentation is available here:
Olainfarm thanks all participants, who joined the webinar, and encourages everybody to follow company’s announcements to get information on the next webinar!
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:
Member of the Board
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