News

Olainfarm Doubles Sales in September

on October 14, 2011

Preliminary sales results of JSC Olainfarm for September 2011 show that sales have increased by 102% compared to the same period last year and have reached 3.71 million lats (5.28 million euro). The most rapid sales increase has been experienced in Canada, where sales have increased 442 times, in Ukraine they increased nearly 4 times, in Belarus, a country heavily hit by its currency crisis, the sales have grown by 71%, in Russia by 63%. Main sale markets of JSC Olainfarm during September 2011 were Ukraine, Russia, Belarus and Latvia.

September 2011 % of total sales Changes to September 2010
Ukraine 43% 293%
Russia 27% 63%
Belarus 9% 71%
Latvia 6% 19%
Georgia 3% -20%
Kazakhstan 3% -15%
The Netherlands 2% NA
India 2% NA
Canada 2% 44156%
USA 1% NA
Other 2% -53%
Total 100% 102%

 

During nine months of 2011, according to preliminary results, the sales of JSC Olainfarm were 26.72 million lats (38.02 million euro), which represents an increase by 42% compared to the same period of 2010 and is already by nearly 7% more than sales made during the entire year of 2010. During 2010 sales of Olainfarm were 25.02 million lats (35.61 million euro). During 9 months of 2011 the biggest sales increases were achieved in Canada, where sales have grown 51 times, the Netherlands – 11 times, in Ukraine, where sales grew by 156%, in Latvia by 43%, in Kazakhstan and Uzbekistan by 21%, Lithuania by 20%. 15% sales increase has also been achieved in Russia and Belarus. Main sales markets of  JSC Olainfarm during nine months of 2011 were Russia, Ukraine, Belarus, Latvia and Kazakhstan.

 

9 months of 2011 % of total sales Changes to 9 months of 2010
Russia 38% 15%
Ukraine 28% 156%
Belarus 8% 15%
Latvia 6% 43%
Kazakhstan 5% 21%
UK 3% 0%
Uzbekistan 2% 21%
The Netherlands 2% 999%
Canada 1% 5016%
Lithuania 1% 20%
Other 7% 15%
Total 100% 42%

 

Operating plan and budget of JSC Olainfarm for 2011 provides that company plans the sales of 29.4 million lats (41.8 million Euro) and the net profit of 5.1 million lats (7.3 million Euro). According to preliminary sales figures published herein, in 9 months of 2011 the company has made 91% of sales planned for the entire 2011.

 

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
Member of the Board
JSC Olainfarm
Tel: +371 6 7013 717
Cell: +371 2 6448 873
E-mail: slapinsh@olainfarm.lv

 

SigitaOlainfarm Doubles Sales in September