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Olainfarm’s Sales in February Increase by 56%, Export to Kosovo Commenced

on March 13, 2015

Preliminary consolidated sales results of JSC Olainfarm for February 2015 show that company’s sales have reached 11.4 million euros, which is an increase by 56% compared to the same period one year ago.  The biggest sales increases were achieved to Moldova, where sales grew by 1288%, sales to Kyrgyzstan grew by 458%, and sales to The Netherlands grew by 167%, while sales to Russia grew by 114%. In February 2015, JSC Olainfarm started exports of final dosage forms to Kosovo. First shipment to this market was worth a little more than 60 thousand euros. The biggest sales markets of JSC Olainfarm in February 2015 were Russia, Latvia, Ukraine, Belarus and The Netherlands.

February 2015, consolidated sales

Share in total sales

Changes to February 2014

Russia 46% 114%
Latvia 17% 13%
Ukraine 15% 74%
Belarus 7% 8%
The Netherlands 5% 167%
Kyrgyzstan 2% 458%
Kazakhstan 1% 40%
Bulgaria 1% 35%
Lithuania 1% 59%
Moldova 1% 1288%
Other 4% -54%
Total 100% 56%

 

Sales of the pharmacy chain of Latvijas Aptieka Ltd., fully owned by JSC Olainfarm in February 2015 were 1.34 million euro, which is an increase by 9% compared to the same period of last year.  57 pharmacies were operating during February.  Sales of Silvanols Ltd. in this period were 0.43 million euros, which is an increase by 39% compared to February 2014.  In February 2015 Silvanols Ltd. sold its products to 7 European countries.

According to preliminary consolidated sales figures, in two months of 2015 sales of JSC Olainfarm were 19.17 million euros, which represents an increase by 13% compared to two months of 2014. The most rapid sales increases were achieved in Kyrgyzstan, where sales grew by 215%, sales to The Netherlands grew by 60%, while sales to Kazakhstan grew by 56%.  Major sales markets of JSC Olainfarm in two months of 2105 were Russia, Latvia, Ukraine, The Netherlands and Belarus.

2 months of 2015, consolidated sales

Share in total sales

Changes to 2 months of 2014

Russia 40% 28%
Latvia 21% 10%
Ukraine 15% 33%
The Netherlands 6% 60%
Belarus 5% -45%
UK 4% 0%
Kyrgyzstan 1% 215%
Kazakhstan 1% 56%
Uzbekistan 1% 5%
Lithuania 1% 30%
Other 5% -36%
Total 100% 13%

 

In first two months of 2015 sales of Latvijas Aptieka Ltd. were 2.8 million euros, while sales of Silvanols Ltd. were 0.82 million euros.  Silvanols Ltd. made its sales in 7 European countries.

According to preliminary unconsolidated sales figures of  JSC Olainfarm, sales of the company during February 2015 were 10.36 million euros, which represents an increase by 65% compared to the same period one year ago. The biggest sales increases were achieved in Azerbaijan, where sales grew by 99010%, sales to Moldova grew by 1288%, sales to Kyrgyzstan by 458%, sales to The Netherlands by 167%, and sales to Russia by 114%. The biggest sales markets of JSC Olainfarm in February 2015 were Russia, Ukraine, Latvia, Belarus and The Netherlands.  During February 2015, JSC Olainfarm sold its products in 17 Asian and European countries.

February 2015, unconsolidated sales Share in total sales Changes to February 2014
Russia 50% 114%
Ukraine 17% 74%
Latvia 10% 39%
Belarus 8% 8%
The Netherlands 6% 167%
Kyrgyzstan 2% 458%
Kazakhstan 2% 40%
Bulgaria 1% 35%
Moldova 1% 1288%
Azerbaijan 1% 99010%
Other 3% -66%
Total 100% 65%

 

In 2 months of 2015, according to preliminary unconsolidated sales results, the sales of JSC Olainfarm were 17.07 million euros, which represents an increase by 16% compared to the same period of 2014.  The most rapid sales increases have been achieved in Kyrgyzstan, The Netherlands and Kazakhstan, where sales grew by 215%, 60% and 56% respectively. According to preliminary unconsolidated results major sales markets of JSC Olainfarm in two months of 2015 were Russia, Ukraine, Latvia, The Netherlands, Belarus and the UK.  In total in two months of 2015 AS Olainfarm sold its products to 23 countries on 4 continents.

2 months of 2015, unconsolidated sales Share in total sales Changes to 2 months of 2014
Russia 45% 28%
Ukraine 17% 33%
Latvia 13% 42%
The Netherlands 7% 60%
Belarus 5% -45%
UK 5% 0%
Kyrgyzstan 1% 215%
Kazakhstan 1% 56%
Uzbekistan 1% 5%
Bulgaria 1% -15%
Other 4% -45%
Total 100% 16%

 

According to preliminary estimates the Company expects its unconsolidated sales of 2015 to reach 84 million euro, while its consolidated sales are expected to be at 100 million euro.  Preliminary sales numbers published herein, show that in 2 months of 2015 the company has attained 20% of its annual estimate of unconsolidated sales and 19% of its annual estimate of 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 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’s Sales in February Increase by 56%, Export to Kosovo Commenced