Preliminary consolidated sales results of JSC Olainfarm for January 2014, show that sales have reached 9.67 million euros, which is an increase by 24% compared to the same period one year ago. The biggest sales increases have been achieved in Georgia, where sales grew by 3496%, Spain, where sales grew by 843%, Italy, where sales grew by 321%, Lithuania, where sales grew by 126% and Latvia, where sales grew by 101%. Major sales markets of  JSC Olainfarm in January 2014 were Russia, Latvia, Ukraine, Belarus, The UK and The Netherlands. During January 2014 almost half a million euros worth of sales have also been made to The Netherlands.

Sales of pharmacy chain of LTD Latvijas aptieka owned by JSC Olainfarm in January were 1.4 million euros.  There were 54 pharmacies operating in January.  Sales of LTD Silvanols in January were 0.29 million euros.

According to preliminary unconsolidated results of JSC Olainfarm sales made in January were worth 8.43 million euros, which is an increase by 20% compared to the same period one year ago.  The biggest sales increases were achieved in Georgia, where sales grew by 3496%, Azerbaijan, where sales grew by 883%, Spain, where sales grew by 843% and Italy, where sales grew by 321%.  Major sales markets of JSC Olainfarm during January 2014 were Russia, Ukraine, Belarus, Latvia, UK and The Netherlands.  In total sales to 19 countries in 2 continents have been made during January.

According to preliminary targets, unconsolidated sales of Olainfarm in 2014 are planned at  80 million euros, while consolidated sales are planned at 90 million euros.  According to these preliminary sales figures, during January 2014, 11% of annual sales target for unconsolidated sales and 11% of annual target for consolidated sales are achieved.

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

According to preliminary estimates unconsolidated sales of AS „Olainfarm” in 2014 will reach 80 million euro, while unconsolidated profit will reach 14 million euro. It i splanned that consolidated sales will reach 90 million euro, while consolidated profit will be as high as 15 million euro. AS „Olainfarm” will continue strengthening its position in chemical intermediate and API market and plans that sales in this segment will increase to at least 28 million euros in five to seven years. Last year the sales in this segment were slightly above 5 million euro.

This year JSC Olainfarm will focus on penetration into Central Asian markets of  Tajikistan, Turkmenistan, Kyrgyzstan and Uzbekistan.  The task is to make a full use of having  representative offices there. Among other things, the company intends to use its experience and capacity to increase CIS exports of Latvian food supplement producer LTD Silvanols, controlling stake in which was acquired by JSC Olainfarm last year.

During 2014 JSC Olainfarm plans to make a capital investment of at least 13 million euro. During this and the next four years ir is planned to build a new production unit of nitrofuranes, increase capacity of final dosage form production, reconstruct the wastewater system, improve energy efficiency, invest in chemical production and quality assurance systems.

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

JSC Olainfarm confirms that Chamber of Civil cases of the Supreme Court of Latvia in its ruling has partially satisfied the claim by JSC Grindeks to cancel the registration of trade marks MIDOLAT and МИДОЛАТ.  Therefore it is now an obligation of JSC Olainfarm to destroy all the medicines and packaging, on which a graphic designation of Mildronāts, MIDOLAT and МИДОЛАТ.  This has to be completed within one year after the ruling takes effect.

JSC Olainfarm does not produce either medicines or packaging with such designations since 2010, therefore this obligation poses no impact on performance of financial state of the company.

„Respecting worries of Grindeks about the trade mark of its flagship product, we have been producing and selling meldonium under trade marks of Vazonat, Vazomag, Zovanat and Meldonium Olainfarm for three years now,” says Salvis Lapins, Member of the Board of JSC Olainfarm. „We have registered trade marks on this metabolic medicine in 27 differrent countries.  Sales and production volumes of this product have grown by 250% over the last three years making it s stable participant of our top 15 products team”.

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

According to preliminary sales results of JSC Olainfarm for December 2013, sales of the company have reached 4.45 million lats (6.33 million euro), which is a reduction by 20% compared to the same period one year ago. The major sales increases were achieved in Uzbekistan, where sales grew by 81%, sales to Kyrgyzstan grew by 79%, and sales to Kazakhstan grew by 69%.  Major sales markets of JSC Olainfarm in December 2013 were Russia, Ukraine, Latvia and Kazakhstan.  Significant shipments to Australia and Brazil have also taken place.

In twelve months of 2013, according to preliminary figures, the consolidated sales of JSC Olainfarm were 55.29 million lats (78.67 million euro), which represents an increase by 5% compared to 2012.  The most rapid sales increases during this twelve months period were achieved in The Netherlands, where the sales grew by 351%, sales to Spain grew by 2002%, sales to Belarus grew by 48%, but sales to Uzbekistan grew by 42%.  Major sales markets of JSC Olainfarm in 2013 were Russia, Latvia, Ukraine, Belarus and Kazakhstan.

Sales of chain of pharmacies of Latvijas aptieka Ltd. owned by JSC Olainfarm in December of 2013 were 0.88 million lats (1.25 million euro).  In December 2013, 54 pharmacies of this chain were operating. During 2013 pharmacies of Latvijas aptieka Ltd. made total sales of 10.5 million lats (14.94 million euro). Sales of Silvanols Ltd. partially owned by JSC Olainfarm in December 2013 were 0.14 million lats (0.2 million euro).

According to preliminary unconsolidated sales figures of JSC Olainfarm, sales of the company during December reached 3.75 million lats (5.34 million euro), which is a reduction by 25% compared to the same period of 2012.  The most rapid sales increases were achieved in Uzbekistan, where sales grew by 81%, sales to Kyrgyzstan grew by 79%, sales to Kazakhstan grew by 69%, and sales to Latvia grew by 54%.  In December 2013, significant shipments have also been made to Brazil and Australia. According to unconsolidated results, the major sales markets of JSC Olainfarm in December 2013 were Russia, Ukraine, Latvia and Kazakhstan.  In total during December 2013, products of JSC Olainfarm were sold in 18 countries on 5 continents.

During 2013, according to preliminary figures, unconsolidated sales of JSC Olainfarm were 47.35 million lats (67.37 million euro), which represents an increase by 2% compared to 2012.  The most rapid sales increases during this period were achieved in The Netherlands and Spain, where sales grew by 351% and 202%, respectively. Relatively rapid sales increases during this period were also achieved in Latvia, where sales grew by 71%, sales in Belarus grew by 48%, but sales in Uzbekistan grew by 42%. According to preliminary unconsolidated results, the major sales markets of JSC Olainfarm during 2013 were Russia, Ukraine, Latvia, Belarus, Kazakhstan and the UK. In total in 2013 products of JSC Olainfarm were sold to 37 countries in 5 continents.

The adjusted sales guidance for JSC Olainfarm says that unconsolidated sales of the company in 2013 will reach 45.4 million lats (64.6 million euro), while consolidated sales will reach 52.8 million lats (75.1 million euro).  According to these preliminary results, the company has outperformed its adjusted unconsolidated sales guidance by 4% and has outperformed its adjusted consolidated sales guidance by 5%.

JSC Olainfarm is one of the biggest pharmaceutical companies in Latvia with 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

Updated financial guidance of JSC Olainfarm provides that unconsolidated sales of the company in 2013 will reach 45.4 million lats (64.6 million euro), while consolidated sales will be as high as 52.8 million lats (75.1 million euro).  Consolidated profit is expected to be at 8.8 million lats (12.5 million euro), while unconsolidated profit will reach 7.5 million lats.

Initial financial guidance was approved on April 12, 2013, they were revised and presented in December 10, during the webinar conference hosted by Salvis Lapins, member of company’s Management Board. Financial guidance was adjusted after more precise data became available on November sales.  Although the sales in November were rather good, they were still too small to reasonably expect that the initial financial targets will be attained.

Since sales of JSC Olainfarm have a rather clear seasonality, and traditionally it is third and fourth quarters, especially November and December when sales are particularly and sometimes unusually high, the probability of actually reaching the initial guidance remained reasonable up until when November sales figures became apparent. Although sales to Ukraine were improved significantly, bigger sales improvements to other countries were required in order to reach the initial financial targets.

Since JSC Olainfarm is a company with a large base of employees and fixed assets, its has a comparatively high break-even point. It implies that when company’s sales are growing, its profits grow disproportionally and also, when company’s sales are not reaching the expected levels, the profit is also corrected disproportionally. Therefore profit guidance of JSC Olainfarm for 2013 has been reduced by a bigger factor than the sales guidance.

JSC Olainfarm is one of the biggest pharmaceutical companies in Latvia with 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

Preliminary consolidated sales results of  JSC Olainfarm for November show that company’s sales has reached 6.47 million lats (9.21 million euro), which represents an increase by 7% compared to the same period one year ago. The biggest sales increases have been experienced in The Netherlands, where sales grew by 885%, Lithuania by 102%, Belarus by 93% and Russia by 61%.  Major sales markets of  JSC Olainfarm in November 2013 were Russia, Ukraine, Latvia and Belarus.  Considerable shipments have also been made to Tajikistan and Uzbekistan.

In eleven months of 2013 according to preliminary consolidated results, the total sales of JSC Olainfarm was 50.8 million lats (72.28 million euro), which represents an increase by 8% compared to the same period of 2012.  The most rapid sales increases were achieved in The Netherlands, where sales grew by 1953%, Spain, where sales grew by  202% and Belarus, where sales grew by 66%.  Major sales markets of  JSC Olainfarm in eleven months of 2013 were Russia, Latvia, Ukraine and Belarus.

Sales of chain of pharmacies Latvijas aptieka Ltd. in November 2013 were 0.82 million lats (1.17 million euro).  52 pharmacies were operating in November 2013.  In eleven months of 2013 sales of Latvijas aptieka Ltd. were 8.62 million lats (12.27 million euro). Sales of Silvanols Ltd. in November 2013 was 0.24 million lats (0.34 million euro).

According to unconsolidated preliminary sales results, sales of JSC Olainfarm in November were 5.65 million lats (8.04 million euro), which represents an increase by 2% compared to the same period one year ago.  The most rapid sales increases were achieved in the Netherlands, where sales grew by 885%, Belarus, where sales grew by 93%, Russia, where the sales grew by 61%, Moldova, where sales grew by 54% and Latvia, where sales grew by 43%. Products of JSC Olainfarm worth more than 0.061 million lats (0.087 million euro) have been sold to both Tajikistan and Uzbekistan during November. According to unconsolidated results, the major sales markets of JSC Olainfarm in November 2013 were Russia, Ukraine, Latvia and Belarus.  In total in November 2013, the sales have been made to 20 countries in three continents.

During eleven months according to preliminary unconsolidated sales results, sales of JSC Olainfarm were 43.61 million lats (62 million euro), which represents an increase by 5% compared to the same period one year ago. During eleven months of this year the most rapid sales increases were achieved in The Netherlands and Spain, where the sales have grown by 1953% and 202% respectively. Comparatively rapid sales increase has also been witnessed during this period in Latvia, where sales grew by 71%, Belarus, where sales have grown by 66%, as well as Georgia and Uzbekistan, where sales grew by 39%. According to preliminary unconsolidated sales results, the major sales markets of JSC Olainfarm in eleven months of 2013 were Russia, Ukraine, Latvia, Belarus, Kazakhstan and the UK. In total during 11 months of 2013 JSC Olainfarm has been selling its products to 36 countries in 5 continents.

Operating plan of JSC Olainfarm provides that unconsolidated sales of the company in 2012 will reach 45.4 million lats (64.6 million euro), while consolidated sales will reach 52.8 million lats (75.1 million euro). According to these preliminary sales figures in eleven months of 2013 96% of both targets have been attained.

JSC Olainfarm is one of the biggest pharmaceutical companies in Latvia with 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

Consolidated profit and loss statement of JSC Olainfarm for nine months of 2013 shows that the concern has made a net profit of 6.2 million lats (8.84 million euro). New nine months sales record has been set during this period, as company has made sales of 37.7 million lats (53.6 million euro). This is an increase by 7% compared to 2012.

“We have experienced the most successful thirs quarter in our history, as sales to Ukraine are back to normal. Ukraine historically is one of the main markets of the company. In order to ensure a longer term development and growth we have this year completed nearly 30 registrations in 7 countries and started more registration processes in Turkey, Mongolia and Mexico. In cooperation with other producers we plan to strengthen and widen our geographical presence, especially in CIS countries,” says Valerijs Maligins, Chairman of the Management Board of JSC Olainfarm.

During 9 months of 2013 sales to all company’s main markets continued increasing except for Ukraine and the UK. The most rapid sales increases during the 9 months of 2013 were achieved to The Netherlands, where sales grew by 2685%, Spain by 202%, Belarus by 62%, Latvia by 32% and Uzbekistan by 20%. Major sales markets of JSC Olainfarm during the 9 months of 2013 were Russia, Ukraine, Latvia, Belarus and Kazakhstan.

Annual meeting of shareholders of JSC Olainfarm held on April 29, 2013 approved operating plan of the Concern. According to it, sales of the Concern in 2013 are planned to be 59 million lats (84 million euros), but the net profit will reach 11.5 million lats (16.4 million euros). According to this unaudited report for 9 months of 2013, during this period 64% of annual sales target and 54% of annual profit target is met.

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

Preliminary consolidated sales results of JSC Olainfarm for October 2013 show that sales have reached 6.11 million lats (8.69 million euro), which is an increase by 2% compared to the same period a year ago.  The biggest sales increases were achieved in Georgia, where sales grew by 165%, Lithuania, where sales grew by 131% and Belarus, where sales grew by 81%.  Major sales markets of JSC Olainfarm in October 2013 were Russia, Latvia, Ukraine and the UK. Significant shipments were also made to Turkmenistan.

In ten months of 2013, according to preliminary consolidated figures, sales of JSC Olainfarm have reached 44.28 million lats (63 million euro), which represents an increase by 8% compared to the same period of 2012. The most rapid sales increases during this period  were achieved in The Netherlands, where sales grew by 3055%, in Spain, where sales grew by 202% and Belarus, where sales grew by 64%. Major sales markets of JSC Olainfarm in ten months of 2013 were Russia, Latvia, Ukraine and Belarus.

Sales of Latvijas aptieka Ltd., a chain of pharmacies owned by JSC Olainfarm, in October 2013 were 0.91 million lats (1.29 million euro).  50 pharmacies of Latvijas aptieka Ltd. were operating during October. In ten months of 2013 sales of Latvijas aptieka Ltd. reached 7.8 million lats (11.1 million euro). Sales of Silvanols Ltd., partially owned by JSC Olainfarm, in October 2013 were 0.17 million lats (0.24 million euro).

According to preliminary unconsolidated results of JSC Olainfarm, sales in October 2013 were 5.42 million lats (7.71 million euro), which is just as much as they were during the same period one year ago. The most rapid sales increases were achieved in Georgia, where sales grew by 160%, in Lithuania, where sales grew by 91% and in Belarus, where sales grew by 81%. In October 2013, almost 0.07 million lats (0.98 million euro) worth of products of JSC Olainfarm were sold to Turkmenistan.  According to unconsolidated results the major sales markets of JSC Olainfarm during October 2013 were Russia, Ukraine, UK, Latvia, Belarus and Kazakhstan. In total during October 2013 products of JSC Olainfarm were sold to 21 countries in 3 continents.

According to preliminary unconsolidated results, in ten months of 2013 sales of JSC Olainfarm have reached 38.13 million lats (54.25 million euro), which represents an increase by 6% compared to the same period of 2012. The most rapid sales increases were achieved in The Netherlands and Spain, where sales grew by 3055% and 202% respectively. Relatively significant sales increase in ten months has also been achieved in Latvia (by 73%), Belarus (by 64%) and Georgia (by 47%). According to preliminary unconsolidated results, major sales markets of JSC Olainfarm in ten months of 2013 were Russia, Ukraine, Latvia, Belarus, Kazakhstan and the UK.  In total in ten months of 2013 products of JSC Olainfarm were sold to 35 countries in 5 continents.

On April 12, 2013 Management Board of JSC Olainfarm approved an operating plan of the company, which provided that unconsolidated sales of company in 2013 will reach 50 million lats (71.1 million euro), while consolidated sales of the company will reach 59 million lats (83.9 million euro).  According to these preliminary results in ten months of 2013 76% of annual target for unconsolidated sales and 75% of annual target for consolidated sales have been reached.

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

Today at the „National Capital Awards” ceremony  JSC Olainfarm received a special award for being the most rapidly growing listed company in Latvia in the list of TOP 101 most valuable Latvian companies.  This year Olainfarm has been ranked 15^th most valuable company in Latvia, as the value of its business has increased by 58% during a year.

“Increase in company’s value reflects very professional and successful team work that we have been demonstrating over a number of years. It is a grand total of very many decisions. Last year price of share of Olainfarm in Riga Stock Exchange increased by 50%. All this successful development allowed us to pay 1.5 million lats in dividends. Over the last number of years we have been actively informing investors about corporate news and results, in webinars we share achievements and plans. We will continue developing these and other initiatives in order to even further improve the level of investor relations,” Salvis Lapins, Member of the Board of JSC Olainfarm said.

„Through ambitious and dedicated work the company has achieved excellent results. Olainfarm is the last year’s most traded company among all the companies listed in Riga Stock Exchange, besides, its share price has increased the most among all the companies of the Official list,” Daiga Auzina-Melalksne, Chairwoman of NASDAQ OMX Riga emphasized. „According to evaluation done by the Stock exchange, Olainfarm has a high corporate management coefficient.  As a listed company it is making its financial disclosures on a regular basis, its operations are closely watched by investors, media and the general public,” said Chairwoman of the Stock Exchange.

Value of the business of JSC Olainfarm has this year increased by 58% compared to the last year, i.e. from 90.7 million lats (129.05 million euro) in 2012 to 143.6 million lats (204.3 million euro) in 2013.  This has ensured that JSC Olainfarm has moved up 9 positions in the list of most valuable Latvian companies, from 24^th place last year to 15^th place in 2013.

Last year at the ceremony of “National Capital Awards” Chairman of the Board of JSC Olainfarm Valerijs Maligins received a Certificate of Appreciation from President Andris Berzins of Latvia. The Certificate was awarded celebrating impressive growth of the company that has been achieved through successful conquest of export markets.

Top 101 of the most valuable Latvian companies is an annual publication by Kapitāls magazine, the winners are celebrated at the National Capital Awards ceremony.  List of the most valuable Latvian companies is being prepared in cooperation with NASDAQ OMX Riga and independent investment banking and financial advising company Prudentia, informative support is provided by Lursoft IT.

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

Preliminary consolidated sales results of JSC Olainfarm for September 2013 show that sales have reached 5.54 million lats (7.88 million euro), which is an increase by  22% compared to the same period one year ago.  The biggest sales increases were achieved in Spain, where sales increased by 167%, sales to Belarus increased by 71%, while sales in Latvian market increased by 41%. Major sales markets of JSC Olainfarm in September 2013 were Russia, Latvia, Ukraine and Belarus. Significant shipments to Tajikistan have also been made.

According to preliminary consolidated results, sales of JSC Olainfarm in nine months of 2013 were 38.02 million lats (54.1 million euro), which represents an increase by 8% compared to the same period of 2012. The most rapid sales increases have been witnessed in The Netherlands, where sales increases by 2685%, as well as Spain  (by 202%) and Belarus, where sales increased by 62%.  Major sales markets of JSC Olainfarm in nine months of 2013 were Russia, Latvia, Ukraine, Belarus and Kazakhstan.

Sales of pharmacy chain Latvijas aptieka Ltd. owned by JSC Olainfarm were record-high in September as they reached 0.83 million lats (1.18 million euro).  49 pharmacies were operating throughout September. In nine months of 2013 sales of Latvijas aptieka Ltd. were 6.89 million lats.  Sales of Silvanols Ltd. in September 2013 were 0.19 million lats (0.27 million euro).

According to preliminary unconsolidated results sales of JSC Olainfarm in September 2013 were 4.87 million lats (6.93 million euro), which represents an increase by 22% compared to the respective period of 2012. The biggest sales increases were achieved in Spain, where sales grew by 167%, sales in Latvia grew by 110%, and sales to Belarus by 71%. 0,09 million lats (0.13 million euro) worth of products have also been sold to Tajikistan.  According to unconsolidated result the major sales markets of JSC Olainfarm in September 2013 were Russia, Ukraine, Latvia, Belarus and Spain. During September 2013 products of JSC Olainfarm were sold to 26 countries on 4 continents.

In nine months of 2013 according to preliminary unconsolidated results sales of JSC Olainfarm were 32.71 million lats (46.54 million euro), which is an increase by 8% compared to the same period of 2012. The most rapid sales increases during this period have been achieved in The Netherlands and Spain, where sales have grown by 2685% and 202% respectively. Relatively high rate of increase during this period has also been observed in Latvia (by 82%) and Belarus (by 62%). According to preliminary unconsolidated results major sales markets of JSC Olainfarm in nine months of 2013 were Russia, Latvia, Ukraine, Belarus, Kazakhstan and the UK. Products to 35 countries have been sold during nine months of 2013.

On April 12, 2013 Management Board of JSC Olainfarm approved an operating plan for the company, providing that unconsolidated sales of the company will reach 50 million lats (71.1 million euro), while consolidated sales of the company will reach 59 million lats (83.9 million euro).  According to these preliminary sales results, during nine months of 2013 65% of unconsolidated sales target and 64% of consolidated sales target have been achieved.

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