Preliminary consolidated results of JSC Olainfarm for August 2013 show that the sales have reached 4.39 million lats (6.25 million euro), which is by 13% more than during the same period last year. The biggest sales increases were achieved in Georgia, where sales grew 48 times, sales to Belarus grew by 424%, sales to Kyrgyzstan grew by 81%, and sales to Moldova 40%. Major sales markets of JSC Olainfarm in August 2013 were Russia, Latvia, Ukraine and Belarus.

During eight months of 2013 preliminary consolidated sales volume of JSC Olainfarm reached 32.47 million lats (46.2 million euro) which represents an increase by 6% compared to the same period of 2012. The most rapid sales increases during this period were observed in The Netherlands, where sales grew by 2636%, Kyrgyzstan, where sales grew by 62% and Belarus, where sales grew by 61%. Major sales markets of JSC Olainfarm in eight months of 2013 are Russia, Latvia, Belarus and Ukraine.

Sales of pharmacies owned by JSC Olainfarm during August 2013 were 0.74 million lats (1.05 million euro).  In eight months these pharmacies had a total sales of 6.04 million lats (8.6 million euro).

According to preliminary unconsolidated results, sales of JSC Olainfarm during August 2013 were 3.81 million lats (5.42 million euro), which represents an increase by 14% compared to the same period of 2012. The most rapid sales increases were achieved in Georgia, where sales grew by 4832%, Belarus, where sales grew by 424% and Kyrgyzstan, where sales grew by 81%. According to unconsolidated results the major sales markets of JSC Olainfarm during August 2013 were Russia, Ukraine, Belarus and Latvia.

According to preliminary results, the unconsolidated sales of JSC Olainfarm in eight months of 2013 were 27.84 million lats (39.61 million euro), which represents an increase by 5% compares to the same period of 2012.  The most rapid sales increases during eight months of this year have been achieved in The Netherlands and in Latvia, where sales increased by 2636% and 79% respectively. According to preliminary unconsolidated reaults, the major sales markets of JSC Olainfarm in eight months of 2013 were Russia, Latvia, Belarus, Ukraine and Kazakhstan.

On April 12 Board of JSC Olainfarm approved operating plan of the Company for 2013, according to which unconsolidated sales of the company in 2013 will be as high as 50 million lats (71.1 million euro), while consolidated sales will be as high as 59 million lats (83.9 million lats). According to these preliminary sales figures, during eight months 56% of target for unconsolidated sales and 55% of target for consolidated sales have been made.

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

Olainfarm’s unaudited profit and loss statement for the first half of 2013 shows that the company had a turnover of 24.3 million lats (34.6 million euros). It is 7% more than in the same period last year. Consequently, the first half of 2013 is the most successful in terms of turnover of OlainFarm history.

„In the first half of the year Olainfarm has managed to achieve yet another sales record. We plan to retain this acceleration and increase it, because the seasonality affects the pharmaceutical industry in a way that the second half of the year is more successful. Strategically we will continue to develop in the same direction – introduce new products, will acquire and strengthen our presence in the pharmaceutical markets. This will be achieved by closer co-operation with other manufacturers for product distribution in the CIS and other countries. Simultaneously we are expanding the Latvijas aptieka network and we are actively engaging in medical device and food supplements sub segment that is possible after Olainfarm acquired the stocks of  Silvanols,” says Valerijs Maligins, Chairman of Olainfarm’s Board.

Olainfarm profit after tax during this period was 3.63 million lats (5.16 million euros). Particularly successful and thus also the most profitable 2nd quarter in company’s history has been the 2nd quarter of 2013, in which the net profit reached 1.68 million lats (2.39 million euros), which is an increase by almost 30% compared to the same period last year.

In the first half of 2013 there have been 18 completed registrations of Olainfarm products in 7 different countries, as well as started the registration processes in Turkey and Mongolia. The work also continues on a number of new drug form developments including clinical studies of injectible form of Kapikor (Olvazol).

Olainfarm in May 2013, received a discount of 5.21 million lats to the corporate income tax (CIT) for long term investments programme.

In the first half of 2013 Olainfarm became the main stockholder in the third biggest Latvian pharmaceutical company Silvanols by acquiring 70.88% stock.

Sales volumes continued to grow in all key business markets, except Ukraine, where it fell by 63% compared to the first half of 2012. This is due to the fact that JSC Olainfarm overshipped products to Ukraine in the 4th quarter of 2012, resulting in sales to Ukraine in 2013 being smaller than usual. The most rapid growth in the first half of 2013 was achieved in The Netherlands where sales increased by 1982%. In Canada, it has almost tripled, while in Belarus sales increased by 33% Latvia by 32% and Russia by 26%. Olainfarm’s biggest markets in the first half of 2013 were Russia, Belarus, Latvia, Ukraine and the United Kingdom.

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 2 quarters of 2013, 41% of annual sales plan and 32% of annual profit target have been achieved.

Preliminary consolidated sales figures of JSC Olainfarm for July show that sales have reached 3.86 million lats (5.5 million euro), which is 5% less than a year ago. The biggest sales increases were achieved in Belarus (growth by 600%) and Kazakhstan (growth by 109%). Major sales markets of JSC Olainfarm during July 2013 were Russia, Ukraine and Latvia.

During the first seven months of 2013 according to preliminary results total consolidated sales of JSC Olainfarm were 28.1 million lats (40 million euro), which represents an increase by 5% compared to similar period of 2012. The most rapid sales increases were achieved in the Netherlands, where sales grew by 2636%, Spain, where sales grew by 240% and Canada, where sales grew by 198%. Major sales markets of JSC Olainfarm during the first seven months of 2013 were Russia, Latvia, Belarus, Ukraine and United Kingdom.

Sales of pharmacies owned by JSC Olainfarm during July 2013 were 0.76 million lats (1.08 million euro). Sales of pharmacies during seven months of 2013 were 5.3 million lats (7.5 million euro). Meanwhile, sales of Silvanols Ltd., a company JSC Olainfarm holds a 70.88% ownership stake in, reached 0.13 million lats in July.

According to preliminary unconsolidated results of JSC Olainfarm, sales made during July 2013 were 3.24 million lats (4.61 million euro), which represents an decrease by 9% compared to similar period of 2012. The most rapid sales increases were achieved in Georgia (growth by 1614%), Belarus (growth by 600%) and Latvia (growth by 67%). According to unconsolidated results the major sales markets of JSC Olainfarm in July 2013 were Russia, Ukraine, Latvia and Belarus.

In seven months of 2013 according to preliminary unconsolidated results the sales of JSC Olainfarm have reached 24 million lats (34.15 million euro), which represents an increase by 4% compared to similar period of 2012. The most rapid sales increases during seven months have been achieved in the Netherlands (growth by 2636%), and Spain (growth by 240%). According to preliminary unconsolidated results, the major sales markets of JSC Olainfarm in seven months of 2013 were Russia, Latvia, Belarus, Ukraine and the United Kingdom.

An Annual General Meeting of JSC Olainfarm held on April 12, approved operating plan of the company for 2013, according to which the target of 50 million lats (71.1 million euro)  was set for unconsolidated sales and target of 59 million lats (83.9 million euro) was set for consolidated sales. According to these preliminary results in seven months of 2013, 48% of annual target of unconsolidated sales and 56% of annual target for consolidated sales 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

Preliminary consolidated sales figures of JSC Olainfarm for June show that sales have reached 4.75 million lats (6.76 million euro), which is 14% more than a year ago. The biggest sales increases were achieved in Turkmenistan (growth by 434%), United Kingdom (growth by 50%) and Kazakhstan (growth by 31%). Major sales markets of JSC Olainfarm during June 2013 were Russia, Ukraine and Latvia.

During the first six months of 2013 according to preliminary results total consolidated sales of JSC Olainfarm were 24.43 million lats (34.76 million euro), which represents an increase by 8% compared to similar period of 2012. The most rapid sales increases were achieved in the Netherlands, where sales grew by 1982%, Spain, where sales grew by 233% and Canada, where sales grew by 198%.  Major sales markets of JSC Olainfarm during the first six months of 2013 were Russia, Latvia, Belarus, Ukraine and United Kingdom.

Sales of pharmacies owned by JSC Olainfarm during June 2013 were 0,73 million lats (1.04 million euro). Sales of pharmacies during six months of 2013 were 4.6 million lats (6.5 million euro). Meanwhile, sales of Silvanols Ltd., a company JSC Olainfarm holds a 70.88% ownership stake in, reached 0.13 million lats in June.

According to preliminary unconsolidated results of JSC Olainfarm, sales made during June 2013 were 4.13 million lats (5.88 million euro), which represents an increase by 8% compared to similar period of 2012. The most rapid sales increases were achieved in Turkmenistan (growth by 434%), Latvia (growth by 59%) and United Kingdom (growth by 50%). According to unconsolidated results the major sales markets of JSC Olainfarm in June 2013 were Russia, Ukraine, United Kingdom and Latvia.

In six months of 2013 according to preliminary unconsolidated results the sales of JSC Olainfarm have reached 20.98 million lats (29.85 million euro), which represents an increase by 8% compared to similar period of 2012. The most rapid sales increases during six months have been achieved in the Netherlands (growth by 1982%), and Canada (growth by 198%). According to preliminary unconsolidated results, the major sales markets of JSC Olainfarm in six months of 2013.gada were Russia, Latvia, Belarus, Ukraine and the United Kingdom.

An Annual General Meeting of JSC Olainfarm held on April 29, approved operating plan of the company for 2013, according to which the target of 50 million lats (71.1 million euro)  was set for unconsolidated sales and target of 59 million lats (83.9 million euro) was set for consolidated sales. According to these preliminary results in six months of 2013, 41.9% of annual target of unconsolidated sales and 41.4% of annual target for consolidated sales 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

Preliminary consolidated sales figures of JSC Olainfarm for May show that sales have reached 3.38 million lats (4.8 million euro), which is 7% more than a year ago. The biggest sales increases were achieved in Kyrgyzstan (growth by 152%), Uzbekistan (growth by 111%) and Georgia (growth by 108%). Major sales markets of JSC Olainfarm during May 2013 were Russia, Latvia and Belarus.

During the first five months of 2013 according to preliminary results total consolidated sales of JSC Olainfarm were 19.68 million lats (28 million euro), which represents an increase by 7% compared to similar period of 2012. The most rapid sales increases were achieved in the Netherlands, where sales grew by 1982%, Spain, where sales grew by 233% and Tajikistan, where sales grew by 129%. Major sales markets of JSC Olainfarm during the first five months of 2013 were Russia, Latvia, Belarus, Tajikistan and Kazakhstan.

Sales of pharmacies owned by JSC Olainfarm during May 2013 were 0.8 million lats (1.14 million euro). Sales of pharmacies during 5 months of 2013 were 3.83 million lats (5.45 million euro).

According to preliminary unconsolidated results of JSC Olainfarm, sales made during May 2013 were 2.84 million lats (4.04 million euro). The most rapid sales increases were achieved in Kyrgyzstan (growth by 152%), Uzbekistan (growth by 111%) and Georgia (growth by 108%). According to unconsolidated results the major sales markets of JSC Olainfarm in May 2013 were Russia, Latvia, Belarus and Tajikistan.

In 5 months of 2013 according to preliminary unconsolidated results the sales of JSC Olainfarm have reached 16.85 million lats (23.98 million euro), which represents an increase by 6% compared to similar period of 2012. The most rapid sales increases during five months have been achieved in the Netherlands (growth by 1982%), and Spain (growth by 233%). According to preliminary unconsolidated results, the major sales markets of JSC Olainfarm in five months of 2013 were Russia, Latvia, Belarus, Ukraine and Kazakhstan.

An Annual General Meeting of JSC Olainfarm held on April 29, approved operating plan of the company for 2013, according to which the target of 50 million lats (71.1 million euro)  was set for unconsolidated sales and target of 59 million lats (83.9 million euro) was set for consolidated sales. According to these preliminary results in five months of 2013, 33.7% of annual target of unconsolidated sales and 33.4% of annual target for consolidated sales 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

JSC Olainfarm sales during the 1st quarter of 2013 have reached 12.6 million lats (17.9 million euro), which represents a 4% year-on-year growth. Thus, based on sales figures, Q1 2013 has been the most successful first quarter of the year in the company’s history. The biggest increases in sales during Q1 2013 were achieved in Kyrgyzstan (+78%), Belarus (+72%), Uzbekistan (+64%) and Great Britain (+51%).

“This year, we are planning to expand our operations by acquiring new pharmacies and other pharmaceuticals-related companies. The first step is our purchase of shares in Silvanols Ltd., which will allow Olainfarm to involve itself more actively in medical equipment and food supplement sub-segments. JSC Olainfarm recently received a corporate income tax exemption for approved investments in our project “Introduction of new products and improved exporting capacity”, which is a significant government-level acclaim of our work. We will continue to strengthen our positions and to develop by ensuring that announcements of Olainfarm record-breaking quarterly results become a regular occurrence,” says Valērijs Maligins, Chairman of the Board of JSC Olainfarm.

During the 1st quarter of 2013 JSC Olainfarm sales continued to increase in all of the company’s main markets, except for Ukraine, where they decreased by 71% year-on-year. However, JSC Olainfarm had already expected import difficulties in the Ukraine market and made extra shipments to the country in the 4th quarter of 2012. Major sales markets of JSC Olainfarm during Q1 2013 were Russia, Ukraine, Latvia, Belarus and the UK.

JSC Olainfarm consolidated profit and loss statement for the 1st quarter of 2013 shows that the company has made a net profit of 1.95 million lats (2.78 million euro), which is a 19% year-on-year decrease. Reduction of sales to Ukraine has made a significant impact on the company’s profitability.

During the 1st quarter of 2013 4 products have been registered in Ukraine, Turkmenistan, Russia and Belarus. These include Kapikor (Olvazol), a heart drug which can be used for strengthening the heart and cardiovascular system in acute cases of myocardial infarction or stroke.  The company has also reached an agreement about the commencement of product registration process in Turkey, while work has been started on developing several new final dosage forms.

JSC Olainfarm budget and operating plan for 2013 sets targets for consolidated sales to reach 59 million lats (84 million euro) and net profit to reach 11.5 million lats (16.4 million euro). According to the unaudited report, during the 1st quarter of 2013 21% of the annual sales target and 17% of the annual profit target have been 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 figures of JSC Olainfarm for April show that sales have reached 3.78 million lats (5.38 million euro), which is almost for one fifth (17%) more than a year ago.  The biggest sales increases were achieved in Canada (growth by 541%) and Spain (growth by 362%). Major sales markets of JSC Olainfarm during April 2013 were Russia, Latvia and Belarus.

During the first four months of 2013 according to preliminary results total consolidated sales of JSC Olainfarm were 16.3 million lats (23.2 million euro), which represents an increase by 7% compared to similar period of 2012.  The most rapid sales increases were achieved in the Netherlands, where sales grew by 1291%, Spain, where sales grew by 233% and Belarus, where sales grew by 69%.  Major sales markets of  JSC Olainfarm during the first four months of 2013 were Russia, Latvia, Belarus, Ukraine and Kazakhstan.

Sales of pharmacies owned by JSC Olainfarm during April 2013 were 0,8 million lats (1.14 million euro). Sales of pharmacies during 4 months o 2013 were 3.05 million lats (4.34 million euro).

According to preliminary unconsolidated results of JSC Olainfarm, sales made during April 2013 were 3.21 million lats (4.57 million euro). The most rapid sales increases were achieved in Canada (growth by 541%), Spain (growth by 362%) and un Latvia (growth by 130%).  According to unconsolidated results the major sales markets of JSC Olainfarm in April 2013 were Russia, Latvia, Belarus and The Netherlands.

In 4 months of 2013 according to preliminary unconsolidated results the sales of JSC Olainfarm have reached 14.01 million lats (19.93 million euro), which represents an increase by 6% compared to similar period of 2012. The most rapid sales increases during four months have been achieved in the Netherlands (growth by 1291%), and Spain (growth by 233%). According to preliminary unconsolidated results, the major sales markets of  JSC Olainfarm in four months of 2013.gada were Russia, Latvia, Belarus, Ukraine and Kazakhstan.

An Annual General Meeting of JSC Olainfarm held on April 29, approved operating plan of the company for 2013, according to which the target of 50 million lats (71.1 million euro)  was set for unconsolidated sales and target of 59 million lats (83.9 million euro) was set for consolidated sales.  According to these preliminary results in four months of 2013, 28% of annual target of unconsolidated sales and 27.6% of annual target for consolidated sales 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