On June 8 JSC Olainfarm organized its Investor Conference Online Webinar. During the webinar the member of the management board of JSC Olainfarm Salvis Lapiņš analyzed the financial results of first quarter 2016 and informed about other recent activities within the company.

During the presentation Salvis Lapiņš noted that Olainfarm has started working on acquisition idea in Belarus, while there are no serious acquisition plans in Russia at the moment. As previously announced, there are two more acquisition ideas that are currently in advance state. During the webinar Salvis Lapiņš also elaborated on profit prognoses for 2016 and explained that decrease in profit prognoses are associated with Ukrainian provisions in amount of 4.5 million EUR.

The recorded “Olainfarm” webinar is available online: http://ej.uz/OLF_Q1_2016_rec, and the presentation, demonstrated during the webinar, is available in the previously published company’s announcement: http://ej.uz/OLF_Q1_2016_PDF_LV.

Olainfarm thanks all participants, who joined the webinar, and encourages everybody to follow company’s announcements to get information on the next webinar!

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 40 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

Information prepared by:

Salvis Lapins
JSC Olainfarm
Member of the Management Board
Rupnicu iela 5, Olaine, Latvia, LV 2114
Phone: +371 6 7013 717
Fax: +371 6 7013 777
E-mail: Salvis.Lapins@olainfarm.lv

JSC Olainfarm invites shareholders, investors, mass media representatives and other stakeholders to join its investor conference webinar scheduled today at 16:00 (EET). To join the webinar please follow the instructions below.

Webinar will be hosted by the Member of the Management Board Salvis Lapiņš. The presentation will be held in English.

During the webinar Salvis Lapiņš will inform about JSC Olainfarm latest activities, provide more detailed information about the recent acquisition – company Tonus Elast and analyze the financial results of the first quarter 2016. During the webinar the attached presentation will be presented: Webinar Presentation: 1st quarter of 2016

What is webinar?
Webinar is a virtual conference, during which company’s representative gives information about the company, its activities and future plans. Webinar allows interactive communication and provides an opportunity to ask questions and get answers directly from the company.

How to join the webinar?
All you need is a computer with internet connection and headphones.

To join the webinar, we invite you to register via https://attendee.gotowebinar.com/register/6056497448553409537.

You will be provided with the webinar link and instructions to join webinar successfully. When joining the webinar for the first time, you will be asked to download the system application on your computer which will take only few seconds.

For more information on webinar service please visit: http://www.nasdaqbaltic.com/en/products-services/webinars-3/

Join the webinar and be the first one to hear the news!

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 40 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

Information prepared by:

Salvis Lapins
JSC Olainfarm
Member of the Management Board
Rupnicu iela 5, Olaine, Latvia, LV 2114
Phone: +371 6 7013 717
Fax: +371 6 7013 777
E-mail: Salvis.Lapins@olainfarm.lv

The following decisions have been adopted by the annual general meeting of shareholders:

1. Report of the Board on results of operations in 2015.

To take notice of the Report of the Board on results of operations in 2015.
Voting: the resolution was adopted with the necessary majority of votes.

2.   Report of the Council on results of operations in 2015.

To take notice of the Report of the Council on results of operations in 2015.
Voting: the resolution was adopted with the necessary majority of votes.

3. Report of the Auditing Committee on activities in 2015.

To take notice of the Report of the Auditing Committee on activities in 2015.
Voting: the resolution was adopted with the necessary majority of votes.

4. Approval of the Audited Consolidated Annual Report of Group and Parent Company for 2015.

To approve the Audited Consolidated Annual Report of JSC Olainfarm group and of Parent Company for 2015.
Voting: the resolution was adopted with the necessary majority of votes.

5. Distribution of profit of 2015.

5.1. To use part of the year 2015 profit of JSC Olainfarm in amount of 2 549 399.12 euros to pay dividends to shareholders of JSC Olainfarm (ISIN code of the shares LV0000100501), paying 0.181 euros per one share. Part of the profit in amount of 12 016 600.88 euros to retain undistributed and to reinvest in development of JSC Olainfarm.
Voting: the resolution was adopted unanimously.

5.2. Decline proposition of the Management board to set September 14, 2016, as a record date for dividends and September 21, 2016, as the date of payment of dividends.
Voting: the resolution was adopted with the necessary majority of votes.

5.3. Set June 21st, 2016, as a record date for dividends and June 27th, 2016, as the date of payment of dividends.
Voting: the resolution was adopted with the necessary majority of votes.

6. Report of the Board on budget and on planned operations in 2016.

To take notice of Report of the Board on budget and on planned operations in 2016, which include Parent Company’s unconsolidated turnover forecast for 2016 in amount of 86 million euro, and JSC Olainfarm consolidated turnover forecast for 2016 in amount of 100 million euro. Forecast of unconsolidated profit of JSC Olainfarm is 9 million euro, but consolidated profit is 10 million euro.
Voting: the resolution was adopted with the necessary majority of votes.

7. Election of the Certified Auditor for 2016 and setting the remuneration for the Certified Auditor.

7.1. To elect SIA Ernst & Young Baltic (license No.17, unitary registration No. 40003593454) to be the certified auditor of JSC Olainfarm in 2016.
Voting: the resolution was adopted with the necessary majority of votes.

7.2. To set 43 300 EUR as the total remuneration of certified auditor for 2016.
Voting: the resolution was adopted with the necessary majority of votes.

8. Election of the Auditing Committee for 2016 and setting the remuneration for the Auditing Committee.

8.1. To elect Viesturs Gurtlavs to be the member of the Auditing Committee.
Voting: the resolution was adopted with the necessary majority of votes.

8.2. To set the total monthly remuneration of the Auditing Committee at 4800 euro.
Voting: the resolution was adopted with the necessary majority of votes.

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 40 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

Information prepared by:
Salvis Lapins
JSC Olainfarm
Member of the Management Board
Rupnicu iela 5, Olaine, Latvia, LV 2114
Phone: +371 6 7013 717
Fax: +371 6 7013 777
E-mail: Salvis.Lapins@olainfarm.lv

JSC Olainfarm invites shareholders, investors, mass media representatives and other stakeholders to join its investor conference webinar scheduled on June 8, 2016 at 16:00 (EET). To join the webinar please follow the instructions below.

Webinar will be hosted by the Member of the Management Board Salvis Lapiņš. The presentation will be held in English.

During the webinar Salvis Lapiņš will inform about JSC Olainfarm latest activities, provide more detailed information about the recent acquisition – company Tonus Elast and analyze the financial results of the first quarter 2016.

After the presentation investors are welcome to ask questions. Due to the limited webinar time, please send in your questions in advance till June 7 to e-mail: ieva.unda@nasdaq.com or Investors’ portal naudaslietas.lv.

What is webinar?
Webinar is a virtual conference, during which company’s representative gives information about the company, its activities and future plans. Webinar allows interactive communication and provides an opportunity to ask questions and get answers directly from the company.

How to join the webinar?
All you need is a computer with internet connection and headphones.

To join the webinar, we invite you to register via https://attendee.gotowebinar.com/register/6056497448553409537

You will be provided with the webinar link and instructions to join webinar successfully. When joining the webinar for the first time, you will be asked to download the system application on your computer which will take only few seconds.
For more information on webinar service please visit: http://www.nasdaqbaltic.com/en/products-services/webinars-3/

Join the webinar and be the first one to hear the news!

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 40 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

Information prepared by:

Salvis Lapins
JSC Olainfarm
Member of the Management Board
Rupnicu iela 5, Olaine, Latvia, LV 2114
Phone: +371 6 7013 717
Fax: +371 6 7013 777
E-mail: Salvis.Lapins@olainfarm.lv

Consolidated sales of JSC Olainfarm during the first quarter of 2016 were 26.1 million euros, which represents a reduction by 3% compared to the same period one year ago. The net profit during this period was 3.1 million euros, which is a reduction by 52% compared to first quarter of 2015. Provisions of 1 million euros have been made for receivables from Ukrainian partners. The major sales markets during this period were Latvia, Russia, Ukraine and Belarus.

„This year has started with rather unpredictable environment in several CIS countries, where we see worsening of economic situation, governmental activities targeted at protection of local markets and support of local producers. Several of these activities have influences our sales adversely. Therefore we plan to place part of production in these countries of acquire a daughter company there, which would allow at least partially mitigating the effects,” says Valerijs Maligins, Chairman of the Board of JSC Olainfarm.

During the 1st quarter of 2016 sales to all company’s main markets continued increasing except for Russia, where they shrunk by 38%, compared to 1st quarter of 2015. This fact, combined with good sales growth in Latvia, has made Latvia to be the biggest market for the Group during 1st quarter of 2016. The most rapid sales increase has been achieved in Poland, where sales grew by 181%.  Sales to Turkmenistan grew by 162%, sales to Uzbekistan grew by 134% and sales to Belarus grew by 77%.

During this period significant changes have occurred to the structure of bestselling products, as Adaptol has become the bestselling product, leaving a long term leader Neiromidin in the second place. Share of the bestselling products has also levelled out as no product makes up more than 15% of Olainfarm sales. Overall concentration of sales has also improved, as ten bestselling products make up only 89% of sales.

During the reporting period, registration processes continued in Turkey, Bosnia and Herzegovina, Myanmar, Cameroon and Vietnam. Registration of several products has been successfully completed in Estonia, Turkmenistan, Bosnia and Herzegovina. Laboratory research has been completed for new product “Ibuprofen Antigripp”, two new final dosage forms developed for Ranitidine, scheduled for registration by the end of 2016. Work continues at developing new final dosage forms of anti-tuberculosis products.

It is proposed, that Annual meeting of shareholders of JSC Olainfarm to be convened on June 7, 2016 approves operating plan of the Group for 2016. According to it, sales of the Group in 2016 are planned to be 100 million euros, but the net profit will reach 10 million euros. According to this unaudited report for 1st quarter of 2016, during the first three months 26% of annual sales target and 31% 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 40 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

Information prepared by:

Salvis Lapins
JSC Olainfarm
Member of the Management Board
Rupnicu iela 5, Olaine, Latvia, LV 2114
Phone: +371 6 7013 717
Fax: +371 6 7013 777
E-mail: Salvis.Lapins@olainfarm.lv

1. Report of the Board on results of operations in 2015.

Draft resolution:
To take notice of the Report of the Board on results of operations in 2015.

2. Report of the Council on results of operations in 2015.

Draft resolution:
To take notice of the Report of the Council on results of operations in 2015.

3. Report of the Auditing Committee on activities in 2015.

Draft resolution:
To take notice of the Report of the Auditing Committee on activities in 2015.

4. Approval of the Audited Consolidated Annual Report of Group and Parent Company for 2015.

Draft resolution:
To approve the Audited Consolidated Annual Report of JSC Olainfarm group and of Parent Company for 2015.

5. Distribution of profit of 2015.

Draft resolutions:
5.1. To use part of the year 2015 profit of JSC Olainfarm in amount of 2 549 399.12 euros to pay dividends to shareholders of JSC Olainfarm, (ISIN code of the shares LV0000100501) paying 0.181 euros per one share. Part of the profit in amount of 12 016 600.88 euros to retain undistributed and to reinvest in development of JSC Olainfarm.
5.2. Set September 14, 2016, as a record date for dividends and September 21, 2016, as the date of payment of dividends.

6. Report of the Board on budget and on planned operations in 2016.

Draft resolution:
To take notice of Report of the Board on budget and on planned operations in 2016, which include Parent Company’s unconsolidated turnover forecast for 2016 in amount of 86 million euro, and JSC Olainfarm consolidated turnover forecast for 2016 in amount of 100 million euro. Forecast of unconsolidated profit of JSC Olainfarm is 9 million euro, but consolidated profit is 10 million euro.

7. Election of the Certified Auditor for 2016.

Draft resolutions:
7.1. to elect SIA Ernst & Young Baltic (license No.17, unitary registration No. 40003593454) to be the certified auditor of JSC Olainfarm in 2016.
7.2. to set 43 300 EUR as the total remuneration of certified auditor for 2016.

8. Election of the Auditing Committee.

Draft resolutions:
8.1. to elect Viesturs Gurtlavs to be the sole member of the Auditing Committee.
8.2. to set the total monthly remuneration of the Auditing Committee at 4800 euros.

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 40 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

Information prepared by:

Salvis Lapins
JSC Olainfarm
Member of the Management Board
Rupnicu iela 5, Olaine, Latvia, LV 2114
Phone: +371 6 7013 717
Fax: +371 6 7013 777
E-mail: Salvis.Lapins@olainfarm.lv

According to preliminary consolidated results of JSC Olainfarm for April 2016, sales of the company have reached 8.82 million euros, which represents a reduction by 4% compared to April of 2015. The biggest sales increase was achieved in Italy, where sales grew by 388%. Sales to Uzbekistan grew by 191%; sales to Turkmenistan grew by 77% while sales to Lithuania grew by 69%. The major sales markets in April were Russia, Latvia, Ukraine, Belarus and Uzbekistan.

Sales of chain of pharmacies of Latvijas aptieka Ltd., fully owned by JSC Olainfarm were 1.58 million euros, which represents an increase by 13% compared to April of 2015. Sixty-one pharmacies were operating during this period. Sales of Silvanols Ltd. during April of 2016 were 0.39 million euros, which represents an increase by 18% compared to April of last year. During April of this year, Silvanols Ltd. sold its products in six European countries, and, with a help of JSC Olainfarm, also to Albania, Kosovo and Azerbaijan.

In four months of 2016, according to preliminary consolidated results, consolidated sales of JSC Olainfarm were 35.05 million euros, which represents a reduction by 5% compared to the same period of 2015. The biggest sales increase was achieved in Italy, where sales grew by 328%. Sales to Uzbekistan grew by 158%, sales to Turkmenistan grew by 133% while sales to Belarus grew by 51%. Major sales markets in four months of 2016 were Russia, Latvia, Ukraine and Belarus.

During 4 months of 2016, sales of pharmacy chain of Latvijas aptieka Ltd. were 6.6 million euros, which represents an increase by 18% compared to the same period of 2015. Sales of Silvanols Ltd. during this 4 months period were 1.6 million euros, which represents an increase by 14% compared to 2015, when its sales during four months were 1.4 million euros. Products of Silvanols Ltd. were sold to nine European countries and with the help from JSC Olainfarm to Albania, Kosovo, Azerbaijan and Belarus.

According to unconsolidated preliminary results, sales of JSC Olainfarm during April 2016 reached 7.67 million euros, which represents a reduction by 5% compared to the same period of last year. The biggest sales increase was achieved in Italy, where sales increased by 388%. Sales to Uzbekistan increased by 191%, but sales to Turkmenistan increased by 77%. The major sales markets were Russia, Ukraine, Latvia, Belarus and Uzbekistan. During April 2016, JSC Olainfarm sold its products to 27 countries in three continents.

According to unconsolidated preliminary results sales of JSC Olainfarm in four months of 2016 were 30.39 million euros, which represents a reduction by 7% compared to the same period of 2015. The biggest sales increase was achieved in Italy, where sales grew by 328%. Sales to Uzbekistan grew by 158%; sales to Turkmenistan grew by 133%, while sales to Belarus grew by 51%. Major sales markets of JSC Olainfarm in four months of 2016 were Russia, Ukraine, Latvia and Belarus. In total, during four months of 2016 products of JSC Olainfarm were sold to 37 countries in three continents.

According to preliminary estimates of JSC Olainfarm, unconsolidated sales of company in 2016 could reach 90 million euros, while consolidated sales are expected to reach 103 million euros. According to preliminary sales figures published here, in four months of 2016, the Company has attained 34% of its target for unconsolidated sales and 34% of its target for 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 40 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

Information prepared by:

Salvis Lapins
JSC Olainfarm
Member of the Management Board
Rupnicu iela 5, Olaine, Latvia, LV 2114
Phone: +371 6 7013 717
Fax: +371 6 7013 777
E-mail: Salvis.Lapins@olainfarm.lv