News

Sales of Olainfarm Grew by 19% Last Year, Silvanols Restarts Exporting to Kazakhstan

on January 15, 2015

According to preliminary consolidated sales results for December 2014, sales of the company have reached 7.82 million euros, which represents an increase by 23% compared to the same period of 2013.  The biggest sales increases were achieved in Poland, where sales grew by 692%, sales to Tajikistan grew by 211%, and sales to Kyrgyzstan grew by 99%, while sales to Lithuania grew by 89%.  During December 2014 JSC Olainfarm also made significant shipments to Belarus, The Netherlands, and Bulgaria, and helped Silvanols Ltd. restart exporting to Kazakhstan.  Major sales markets of JSC Olainfarm during December 2014 were Russia, Ukraine, Latvia and Belarus.

December 2014, consolidated sales Share in total sales Changes to December 2013
Russia 31% 36%
Ukraine 29% 24%
Latvia 22% 10%
Belarus 12% NA
The Netherlands 3% NA
Bulgaria 2% NA
Poland 2% 692%
Tajikistan 2% 211%
Lithuania 2% 89%
Kyrgyzstan 1% 99%
Other 3% -72%
Total 100% 23%

 

Sales of pharmacy chain of Latvijas aptieka Ltd., fully owned by JSC Olainfarm during December 2014 were 1.14 million euros and 57 pharmacies were operating during December.  Sales of Silvanols Ltd. in December 2014 were 0.42 million euros, and the company was selling its products to 4 European countries and, with assistance from JSC Olainfarm to Belarus and Kazakhstan.

During 2014 according to preliminary consolidated sales figures, sales of JSC Olainfarm were 93.79 million euros, which represents an increase by 19% compared to 2013. The most rapid sales increases were achieved in Poland, where sales grew by 434%, and in The Netherlands, where sales grew by 192%.  The major sales markets of JSC Olainfarm in 2014 were Russia, Latvia, Ukraine and Belarus.

2014, consolidated sales Share in total sales Changes to 2013
Russia 36% 15%
Latvia 22% 16%
Ukraine 15% 28%
Belarus 8% 40%
The Netherlands 3% 192%
Kazakhstan 2% -32%
UK 2% -32%
Poland 2% 434%
Uzbekistan 1% -11%
Lithuania 1% 60%
Other 8% 20%
Total 100% 19%

 

During 2014 sales of pharmacy chain of Latvijas aptieka Ltd. fully owned by JSC Olainfarm were 14.9 million euro.  Sales of  Silvanols Ltd. during 2014 were 3.5 million euro.  Silvanols Ltd. made its sales in eleven countries on two continents.

According to unconsolidated sales results of  JSC Olainfarm, sales in December 2014 were 7.62 million euros, which represents an increase by 44% compared to the same period one year ago.  The major sales increases were achieved in Tajikistan, where sales grew by 211%, Kyrgyzstan, where sales grew by 99% and Latvia, where sales grew by 45.  During December the company has also made significant shipments to Belarus, The Netherlands, Bulgaria and Poland.  The major sales markets of  JSC Olainfarm during December 2014 were Russia, Ukraine, Latvia and Belarus. During December products of JSC Olainfarm were sold to 20 countries on two continents.

December 2014, unconsolidated sales Share in total sales Changes to December 2013
Russia 32% 36%
Ukraine 30% 24%
Latvia 13% 45%
Belarus 12% NA
The Netherlands 3% NA
Bulgaria 3% NA
Poland 2% NA
Tajikistan 2% 211%
Kyrgyzstan 1% 99%
Lithuania 1% 13%
Other 3% -74%
Total 100% 44%

 

According to unconsolidated figures, sales of JSC Olainfarm during 2014 were 81.7 million euros, which represents an increase by 21% compared to 2103. The biggest sales increases were achieved to Poland, where sales grew by 1136%, sales to The Netherlands grew by 192%, sales to Tajikistan grew by 70% and sales to Belarus grew by 40%.  According to preliminary unconsolidated sales results, the biggest sales markets of JSC Olainfarm in 12 months of 2014 were Russia, Ukraine, Latvia and Belarus.  In total, during 2014 JSC Olainfarm sold its products to 35 countries on five continents.

2014, unconsolidated sales Share in total sales Changes to 2013
Russia 41% 15%
Ukraine 17% 28%
Latvia 12% 35%
Belarus 9% 40%
The Netherlands 3% 192%
Kazakhstan 3% -32%
UK 2% -32%
Poland 2% 1136%
Uzbekistan 2% -11%
Tajikistan 1% 70%
Other 8% 15%
Total 100% 21%

 

On April 29, 2014 an AGM of JSC Olainfarm approved an operating plan of the company, providing that the unconsolidated sales target for 2014 is 80 million euro, while consolidated sales target for 2014 is 93 million euro.  According to these preliminary sales results, in 2014 JSC Olainfarm has met 102% on annual unconsolidated sales target and 101% of annual consolidated sales target.

 

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

 

 

 

SigitaSales of Olainfarm Grew by 19% Last Year, Silvanols Restarts Exporting to Kazakhstan