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Proposal of the Management Board of JSC Olainfarm Regarding Distribution of Profit of 2015

on 6 gegužės, 2016 Komentavimas išjungtas įraše Proposal of the Management Board of JSC Olainfarm Regarding Distribution of Profit of 2015

The amount of net profit made by JSC Olainfarm in 2015 is 14 566 000.00 (fourteen million five hundred and sixty six thousand) euros.

Management Board of JSC Olainfarm proposes to use part of the year 2015 profit of JSC Olainfarm in amount of 2 549 399.12 euro to pay dividends to shareholders of JSC Olainfarm (ISIN code of the shares LV0000100501) paying 0.181 euro per one share, but part of the profit in amount of 12 016 600.88 to retain by the company and reinvest into further development of JSC Olainfarm.

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Proposal of the Management Board of JSC Olainfarm Regarding Distribution of Profit of 2015

Announcement About Convening of the Annual General Meeting of Olainfarm

on 6 gegužės, 2016 Komentavimas išjungtas įraše Announcement About Convening of the Annual General Meeting of Olainfarm

Management Board of the Joint Stock company Olainfarm (registration number. 40003007246, registered  address: Rupnicu iela 5, Olaine, LV-2114) convenes and announces that the Annual General Meeting of JSC Olainfarm Shareholders will be held on June 7th, 2016 at 11:00 at the  premises of JSC Olainfarm in Olaine, Rupnicu iela 5.

Agenda:

  1.  Report of the Management Board about the results of operations in 2015.
  2.  Report of the Council about the results of operations in 2015.
  3.  Report of the Auditing Committee about 2015.
  4.  Approval of JSC Olainfarm Сonsolidated and Parent Сompany’s Annual Report for year 2015.
  5.  Distribution of profit of 2015.
  6.  Report of the Management Board about the budget and operational plan for 2016.
  7. Elections of the sworn auditor for 2016 and setting of the remuneration for the sworn auditor.
  8. Elections of the Auditing Committee for 2016 and setting of the remuneration of the Auditing  Committee.

Registration of the shareholders will take place on the day of the meeting, i.e. June 7th, 2016 from  10:00 until 10:45 on the venue.

Total number of shares and the total number of the voting shares of JSC Olainfarm is 14 085 078.

Date of the record for participation of the shareholders in the Annual General Meeting of shareholders  of JSC Olainfarm is May 30th, 2016. Only those who are the shareholders at the date of record have  the right to participate in the Annual General Meeting of shareholders on June 7th, 2016, with the  number of shares held by them at the date of record.

Shareholders may participate in the Annual General Meeting of shareholders either in person or  represented through a proxy:

– When registering the shareholders must present either the passport or other  identification document;
– When registering the representatives of the shareholders must present the passport or  other identification document, submit a written power of attorney by the represented shareholder (the  form of the power of attorney is available at JSC Olainfarm web-site  https://lt.olainfarm.com, web-site of the system of Central Storage of Regulated Information http://www.oricgs.lv; and web-site of JSC  NASDAQ OMX Riga http://www.nasdaqomxbaltic.com) or the legal representative has to present a document confirming the authority.

Shareholders have the following rights:

– shareholders that represent at least 1/20 of the capital of the company have the right  to within 7 days after the announcement is published to request the Management Board of JSC Olainfarm  to include additional items in the agenda. Shareholders that request inclusion of additional items in  the agenda of the Annual General Meeting of shareholders must submit to the Management Board of JSC  Olainfarm draft decisions about the issues to be included in the agenda upon their request or  explanations about the item, if no decision is planned;

– within 7 days after the publishing of this announcement, submit draft decisions about  the items of agenda.  Should all submitted draft decisions be reviewed and declined, shareholders may  submit their proposed draft decisions during the Annual General Meeting of Shareholders itself;

– should the shareholder submit an inquiry at least 7 days before the Annual General  Meeting of shareholders, the Management Board shall at least 3 days before the Annual General Meeting  of shareholders provide the requested information about the items included in the agenda. It is a duty  of the Management Board to upon the request of the shareholder provide information about the economic  situation of the company to the extent necessary for objective decision-making of the particular item  on the agenda.

Shareholders may see the draft resolutions of the Annual general Meeting of Shareholders from May 24,  20165 until June 6, 2016 on business days from 09:00 until 16:00 in Olaine, Rupnicu iela 5, in the Legal  division of JSC Olainfarm, if scheduled in advance through telephone + 371 6 7013 870 or on the web  page of JSC Olainfarm  https://lt.olainfarm.com, but on the day of the Annual General Meeting – at the registration desk.

JSC Olainfarm Сonsolidated and Parent Сompany’s Annual Report for year 2015, report of the independent auditors, report of the Council, Corporate governance report and profit distribution proposals are available at web  page of JSC Olainfarm  https://lt.olainfarm.com, web-page of the system of Central Storage of Regulated Information http://www.oricgs.lv and the web page of JSC NASDAQ OMX Riga http://www.nasdaqomxbaltic.com.

Form of Power of Attorney

 

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

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Announcement About Convening of the Annual General Meeting of Olainfarm

Last Year Olainfarm Sets a New Profit Record of 15.3 Million Euros

on 29 balandžio, 2016 Komentavimas išjungtas įraše Last Year Olainfarm Sets a New Profit Record of 15.3 Million Euros

Audited consolidated profit and loss account of JSC Olainfarm for 2015 shows that consolidated net profit was 15.3 million euros. This represents an increase by 25% compared to the net profit of 2014 and by 8% compared to the net profit of 2012, when the previous profit record was set. Parent company’s net profit in 2015 was 14.6 million euros, which represents an increase by 28% compared to the net profit of 2014.

Sales of the Group in 2015 reached 97.4 million euros, which represents an increase by 4% compared to 2014, when sales of the Group were 93.7 million euros and is the highest sales number ever reached by the group so far. Sales of the Parent company in 2015 were 84.7 million euros, which also represents an increase by 4% compared to 2014, when Parent company made sales of 81.6 million euros.

The biggest consolidated sales increase (by 107%) was achieved in The Netherlands, where products for WHO’s Anti-Tuberculosis program are shipped. Sales in Tajikistan increased by 39%, sales to Latvia by 11%. The major sales markets of the Group in 2015 were Russia, Latvia, Ukraine, Belarus and The Netherlands

The biggest Parent company’s sales increase in 2015 was achieved in The Netherlands where sales grew by 107%. Sales to Turkmenistan grew by 46%, but sales to Tajikistan grew by 39%. Significant sales growth has also been achieved in Latvia where sales of the Parent company increased by 25%. Major sales markets of Parent company of JSC Olainfarm in 2015 were Russia, Latvia, Ukraine Belarus and The Netherlands.

The best sold company’s products in 2015 were neurological products “Neiromidin”, “Noofen” and “Adaptol”, anti-tuberculosis product „PASA Sodium”, Antibacterial products „Furamag” and “Furasol”, antiarrhythmic products “Etacizin” and antihistamine product “Fenkarol”.

During the reporting period, registration processes have been launched in Bosnia and Herzegovina, Vietnam, Myanmar; GMP audit by Turkish pharmaceutical authorities has been passed, and bioavailability tests for Turkish registration completed, allowing the Parent company to proceed with registration in Turkey.

New forms have been developed for „Gripoflex 325“ (with reduced content of paracetamol), „ACC 200mg“ powder, and lactose free „Memantine“ tablets of 10mg and 20mg. The work continues at development of new combined prolonged activity form of nitrofurantoin. Two new food supplements have been developed and registered in Baltic countries with urological and hepatological application. Food supplement „Jogurt Babydrops“ has been registered in the Baltics and is planned for further registration in 14 countries.

Annual meeting of shareholders of JSC Olainfarm held on June 11, 2015 approved operating plan of the Group for 2015. According to it, sales of the Group in 2015 are planned to be 100 million euros, but the net profit will reach 15 million euros. According to this audited report for 2015, during this period 97.4% of annual sales target and 101.9% of annual profit target is met. The same meeting approved targets for Parent company’s operations, stating that Parent company’s sales target is 87 million euros, but the profit target is 14 million euros. According to these accounts, Parent company met 97.4% of sales target but exceeded its profit target by 4%.

Statement of Financial Position Group Parent company
31.12.2015 31.12.2014 31.12.2015 31.12.2014
EUR ‘000 EUR ‘000 EUR ‘000 EUR ‘000
     ASSETS
NON-CURRENT ASSETS
Intangible assets 20 591 18 848 2 210 2 109
Property, plant and equipment 35 579 34 674 34 047 33 252
Financial assets 4 910 4 234 22 382 19 848
TOTAL NON-CURRENT ASSETS 61 080 57 756 58 639 55 209
CURRENT ASSETS
Inventories 20 990 18 693 18 979 17 172
Receivables 30 487 28 219 31 178 29 077
Cash 5 574 2 055 5 015 1 745
TOTAL CURRENT ASSETS 57 051 48 967 55 172 47 994
TOTAL ASSETS 118 131 106 723 113 811 103 203
EQUITY AND LIABILITIES
EQUITY
Share capital 19 719 20 041 19 719 20 041
Share premium 2 504 2 504 2 504 2 504
Reserves 322 322
Retained earnings 65 773 50 492 65 921 51 355
Non-controlling interests 30 8
TOTAL EQUITY 88 348 73 045 88 466 73 900
LIABILITIES
Non-current liabilities
Borrowings 8 560 10 387 8 051 10 361
Deferred corporate income tax 1 947 1 640 635 438
Deferred income 2 656 2 099 2 604 2 032
Total Non-Current Liabilities 13 163 14 126 11 290 12 831
Current liabilities
Borrowings 4 258 6 906 3 593 5 700
Trade payables and other liabilities 11 562 12 227 9 677 10 370
Deferred income 800 419 785 402
Total Current Liabilities 16 620 19 552 14 055 16 472
TOTAL LIABILITIES 29 783 33 678 25 345 29 303
TOTAL EQUITY AND LIABILITIES 118 131 106 723 113 811 103 203

 

Statement of comprehensive income Group Parent company
2015 2014 2015 2014
EUR ‘000 EUR ‘000 EUR ‘000 EUR ‘000
Net revenue 97 392 93 654 84 746 81 625
Cost of goods sold (32 315) (29 683) (25 979) (22 791)
Gross Profit 65 077 63 971 58 767 58 834
Selling expense (28 202) (28 356) (23 742) (24 063)
Administrative expense (18 965) (16 198) (18 118) (15 286)
Other operating income 2 715 1 788 2 487 1 274
Other operating expense (1 957) (2 974) (1 864) (3 047)
Share of profit of an associate 118 153
Income from investments in subsidiaries 300
Financial income 262 187 261 183
Financial expense (1 404) (4 728) (1 352) (4 691)
Profit Before Tax 17 644 13 843 16 739 13 204
Corporate income tax (2 110) (2 266) (1 976) (2 247)
Deferred corporate income tax (245) 657 (197) 467
PROFIT FOR THE REPORTING PERIOD 15 289 12 234 14 566 11 424
Other comprehensive income for the reporting period
Total comprehensive income for the reporting period 15 289 12 234 14 566 11 424
Total comprehensive income attributable to:
The equity holders of the Parent Company 15 281 12 237 14 566 11 424
Non-controlling interests 8 (3)
Basic and diluted earnings per share, EUR 1.08 0.87 1.03 0.81

 

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

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Last Year Olainfarm Sets a New Profit Record of 15.3 Million Euros

Olainfarm to Participate at the International Pharmaceutical Exhibition in Japan

on 20 balandžio, 2016 Komentavimas išjungtas įraše Olainfarm to Participate at the International Pharmaceutical Exhibition in Japan

On 20–22 April, JSC Olainfarm representatives will take part at the international pharmaceutical exhibition “CPhI Japan 2016” in Tokyo, the capital of Japan. The exhibit presentation will include the product portfolio and co-operation offer not only of JSC Olainfarm, but also of its subsidiaries — the Latvian green pharmaceutical company Silvanols, manufacturer of organic cosmetics Kiwi Cosmetics and the pharmaceutical retail chain Latvijas aptieka. The stand of JSC Olainfarm Q-35 will be located at the great CPhI hall.

JSC Olainfarm will be placing emphasis on the research, manufacturing, and development offer of active pharmaceutical ingredients and optically active chemical products, as in the recent years this region has seen particular interest in attracting social partners in the development of new products, technologies and services. Representatives of the company will also meet with existing and new co-operation partners regarding the procurement of manufacturing inputs. 

Last year, JSC Olainfarm developed an innovative adamantane group chemical compound especially for the Japanese market; the compound has already been successfully used at an industrial scale by the Japanese partners. Deliveries of this product are planned to the Japanese market also in the future. 

JSC Olainfarm will be participating in “CPhI Japan” for the fifth time around. More than 465 participants from 27 countries and regions have registered for “CPhI Japan 2016”; it is expected to draw more than 16,000 professionals of the pharmaceutical industry. 48% of the exhibition visitors are looking for new suppliers, inputs, and services.

 

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.

 

Further information:

Sigita Lapsiņa
Head of PR
mobile: (+371) 26 377 286
e-mail: slapsina@olainfarm.lv

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Olainfarm to Participate at the International Pharmaceutical Exhibition in Japan

Sales of Olainfarm in March Reach 9.05 Million Euros

on 15 balandžio, 2016 Komentavimas išjungtas įraše Sales of Olainfarm in March Reach 9.05 Million Euros

According to preliminary consolidated results of JSC Olainfarm for March 2016, sales of company have reached 9.05 million euros, which represents a growth by 4% compared to March 2015. The biggest sales increase has been achieved in Ukraine, where sales grew by 361%. Sales to Turkmenistan grew by 208%, sales to Poland grew by 133%, but sales to Lithuania by 120%. During this period, significant shipments have also been made to Uzbekistan. Major sales markets of JSC Olainfarm in March 2016 were Ukraine, Latvia, Russia and Belarus.

March 2016, consolidated sales Sales, thsnd. EUR Changes to March 2015 Share in total sales
Ukraine 2 494 361% 28%
Latvia 2 222 17% 25%
Russia 1 920 -28% 21%
Belarus 585 -24% 6%
Turkmenistan 316 208% 3%
Uzbekistan 313 NA 3%
The Netherlands 219 -80% 2%
Kazakhstan 180 -60% 2%
Lithuania 173 120% 2%
Poland 155 133% 2%
Other 467 -55% 5%
Total 9 045 4% 100%

 

Sales of pharmacy chain of Latvijas aptieka Ltd. during March 2016 were 1.63 million euros, which represents an increase by 13% compared to the same period of the last year. Sixty-one pharmacies were operating during March this year. Sales of Silvanols Ltd. during March 2016 were 0.44 million euros, which represents an increase by 52% compared to sales made during March 2015. In March 2016, Silvanols Ltd. sold its products in four European countries and with assistance of JSC Olainfarm also to Azerbaijan and Belarus.

In three months of 2016, according to preliminary consolidated results, sales of JSC Olainfarm reached 26.1 million euros, which represents a reduction by 6% compared to three months of 2015. 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%. Major sales markets of JSC Olainfarm in three months of 2016 were Latvia, Russia, Ukraine and Belarus.

3 months of 2016, consolidated sales Sales, thsnd. EUR Changes to three months of 2015 Share in total sales
Latvia 6 627 13% 25%
Russia 6 305 -38% 24%
Ukraine 4 860 44% 19%
Belarus 3 027 77% 12%
UK 927 10% 4%
Kazakhstan 569 26% 2%
Turkmenistan 482 162% 2%
Uzbekistan 478 134% 2%
The Netherlands 473 -79% 2%
Poland 386 181% 1%
Other 1 968 -23% 8%
Total 26 101 -6% 100%

 

During the three months period of 2016 sales of pharmacy chain of  Latvijas aptieka Ltd. reached 5.02 million euro, which represents an increase by 19% compared to the same period of 2015. Sales of Silvanols Ltd. in three months of 2016 were 1.22 million euro, which represents an increase by 11% compared to the first quarter of 2015, when sales of Silvanols were 1.1 million euros. Products of Silvanols Ltd. were sold to eight European countries and with assistance of JSC Olainfarm also to Azerbaijan and Belarus.

According to preliminary unconsolidated results, sales of JSC Olainfarm in March 2016 were 7.91 million euros, which represents an increase by 3% compared to the same period of 2015. The biggest sales increase was achieved to Ukraine, where sales grew by 361%. Sales to Italy grew by 287%, sales to Turkmenistan grew by 208%, and sales to Lithuania grew by 159%. Significant shipments during this period were also made to Uzbekistan. Major sales markets of JSC Olainfarm were Ukraine, Russia, Latvia and Belarus. During March 2016, products of JSC Olainfarm were sold to 28 countries in three continents.

March 2016, unconsolidated sales Sales, thsnd. EUR Changes to March, 2015 Share in total sales
Ukraine 2 494 361% 32%
Russia 1 920 -28% 24%
Latvia 1 235 19% 16%
Belarus 585 -24% 7%
Turkmenistan 316 208% 4%
Uzbekistan 313 NA 4%
The Netherlands 219 -80% 3%
Kazakhstan 180 -60% 2%
Lithuania 157 159% 2%
Italy 127 287% 2%
Other 367 -60% 5%
Total 7 911 3% 100%

 

According to unconsolidated preliminary results for three months of 2016, sales of JSC Olainfarm have reached 22.6 million euros, which represents a reduction by 8% compared to the same period of 2015. The most rapid sales increase was achieved in Turkmenistan, where sales grew by 162%. Sales to Uzbekistan grew by 134%, while sales to Belarus and Lithuania grew by 77% each. The major sales markets of JSC Olainfarm in three months of 2016 were Russia, Ukraine, Latvia and Belarus. In three months of 2016, products of JSC Olainfarm were sold to 32 countries in three continents.

3 months of 2016, unconsolidated sales Sales, thsnd. EUR Changes to 3 months of 2015 Share in total sales
Russia 6 305 -38% 28%
Ukraine 4 776 41% 21%
Latvia 3 555 12% 16%
Belarus 3 027 77% 13%
UK 927 10% 4%
Kazakhstan 569 -15% 3%
Turkmenistan 482 162% 2%
Uzbekistan 478 134% 2%
The Netherlands 473 -79% 2%
Lithuania 312 77% 1%
Other 1 698 -7% 8%
Total 22 600 -8% 100%

 

According to preliminary estimates by the management of JSC Olainfarm, unconsolidated sales in 2016 are expected at 90 million euros, while consolidated sales at 103 million euros. According to these preliminary sales results, in three months of 2016, the company has reached 25% of its annual unconsolidated sales estimate and 25% of its annual consolidated sales estimate.

 

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
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

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Sales of Olainfarm in March Reach 9.05 Million Euros

Sales of Olainfarm in February Reached 8.23 Million Euros

on 15 kovo, 2016 Komentavimas išjungtas įraše Sales of Olainfarm in February Reached 8.23 Million Euros

Preliminary consolidated results of JSC Olainfarm for February 2016 show that sales of the group have reached 8.23 million euros, which represents a reduction by 28% compared to February of 2015. The biggest sales increase was achieved in Uzbekistan, where sales grew by 387%. During February significant shipments have also been made to Tajikistan. The major sales markets of JSC Olainfarm during this period were Latvia, Russia, Ukraine and Belarus.

February 2016, consolidated sales Sales, thsnd. EUR Changes to February 2015 Share in total sales
Latvia 2 282 21% 28%
Russia 2 125 -59% 26%
Ukraine 1 580 -8% 19%
Belarus 923 17% 11%
The Netherlands 255 -59% 3%
Kazakhstan 182 8% 2%
Uzbekistan 165 387% 2%
Tajikistan 135 NA 2%
Lithuania 125 16% 2%
Other 456 -83% 6%
Total 8 226 -28% 100%

 

Sales of pharmacy chain of Latvijas aptieka Ltd. during February 2016 were 1.74 million euro, which represents an increase by 30% compared to February of 2015. Sixty-two pharmacies were operating during this period. Sales of Silvanols Ltd. in February 2016 were 0.47 million euros, which represents an increase by 9% compared to February of 2015. During February of 2016,  Silvanols Ltd. was selling its products to four European countries and with assistance from JSC Olainfarm also to Azerbaijan and Belarus.

According to preliminary consolidated results, sales of the group of JSC Olainfarm during two months of 2016 were 17.06 million euros, which represents a reduction by 11% compared to the same period of 2015. The biggest sales increase during this period was achieved in Poland, where sales grew by 226%. Sales to Belarus increased by 164%, sales to Kazakhstan increased by 75%. During two months of 2016, significant shipments were also made to Germany and Tajikistan. Major sales markets of JSC Olainfarm during two months of 2016 were Latvia, Russia, Belarus, Ukraine and the UK.

2 months of 2016, consolidated sales Sales, thsnd. EUR Changes to 2 months of 2015 Share in total sales
Latvia 4 397 10% 26%
Russia 4 385 -41% 26%
Belarus 2 443 164% 14%
Ukraine 2 366 -17% 14%
UK 893 6% 5%
Kazakhstan 389 75% 2%
The Netherlands 255 -77% 1%
Germany 198 NA 1%
Tajikistan 197 NA 1%
Poland 230 226% 1%
Other 1 307 -22% 8%
Total 17 060 -11% 100%

 

During two months of 2016, sales of Latvijas aptieka Ltd. reached 3.4 million euros, which represents an increase by 21% compared to the same period one year ago. Sales of Silvanols Ltd. during two months of this year were 0.79 million euros, which represents a reduction by 4% compared to the same period of 2015, where this company made sales of 0.82 million euros. During two months of 2016, products of Silvanols Ltd. were sold to eight European countries and with the help of JSC Olainfarm also to Azerbaijan and Belarus.

According to unconsolidated preliminary results for February 2016, sales of JSC Olainfarm during this period were 6.93 million euros, which represents a reduction by 33% compared to the same period of 2015. The biggest sales increases were achieved in Uzbekistan, where sales grew by 387% and Lithuania, where sales grew by 65%. During February 2016, JSC Olainfarm also made significant shipments to Tajikistan. Major sales markets during this period were Russia, Ukraine, Latvia and Belarus. Products of JSC Olainfarm were sold to 24 countries on three continents.

February 2016, unconsolidated sales Sales, thsnd. EUR Changes to February 2015 Share in total sales
Russia 2 125 -59% 31%
Ukraine 1 496 -13% 22%
Latvia 1 127 19% 16%
Belarus 923 17% 13%
The Netherlands 255 -59% 4%
Kazakhstan 182 8% 3%
Uzbekistan 165 387% 2%
Tajikistan 135 NA 2%
Lithuania 108 65% 2%
Other 413 -46% 6%
Total 6 927 -33% 100%

 

According to preliminary unconsolidated results, sales of JSC Olainfarm in two months of 2016 were 14.68 million euros, which represents a reduction by 13% compared to the respective period of 2015. The most rapid sales increases during two months of this year were achieved in Belarus, where sales grew by 164%, and Kazakhstan where sales grew by 75%. During two months of 2016 significant shipments were also made to Germany, Tajikistan and Poland. Major sales markets of JSC Olainfarm during two months of 2016 were Russia, Belarus, Latvia, and the UK. In total, during two months of 2016, products of JSC Olainfarm were sold to 30 countries on three continents.

2 months of 2016, unconsolidated sales Sales, thsnd. EUR Changes to 2 months of 2015 Share in total sales
Russia 4 385 -41% 30%
Belarus 2 443 164% 17%
Latvia 2 313 9% 16%
Ukraine 2 282 -20% 16%
UK 893 6% 6%
Kazakhstan 389 75% 3%
The Netherlands 255 -77% 2%
Germany 198 NA 1%
Tajikistan 197 NA 1%
Poland 180 NA 1%
Other 1 145 -10% 8%
Total 14 679 -13% 100%

 

In accordance with preliminary estimates by JSC Olainfarm, unconsolidated sales of the company in 2016 might reach 90 million euros, while consolidated sales of the group could be as high as 103 million euros. According to these preliminary sales figures, in two months of 2016, 17% of annual target for unconsolidated sales and 16% 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
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

 

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Sales of Olainfarm in February Reached 8.23 Million Euros

Olainfarm holds Investor Conference Webinar about financial results of 2015

on 14 kovo, 2016 Komentavimas išjungtas įraše Olainfarm holds Investor Conference Webinar about financial results of 2015

JSC Olainfarm invites shareholders, investors, mass media representatives and other stakeholders to join its investor conference webinar scheduled on March 14, 2016 at 16:00 (EET). To join the webinar please follow the instructions below.

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

Salvis Lapiņš informs about JSC Olainfarm latest activities and analyzes the financial results of the fourth quarter 2015 and non-audited financial results of 12 months 2015.

After the presentation investors are welcome to ask questions.

During the webinar the enclosed presentation is being presented: Webinar Presentation: 4th quarter and the whole 2015

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 ej.uz/OLF_YE2015.

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

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Olainfarm holds Investor Conference Webinar about financial results of 2015

Olainfarm will hold Investor Conference Webinar about financial results of 2015

on 10 kovo, 2016 Komentavimas išjungtas įraše Olainfarm will hold Investor Conference Webinar about financial results of 2015

JSC Olainfarm invites shareholders, investors, mass media representatives and other stakeholders to join its investor conference webinar scheduled on March 14, 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 and analyze the financial results of the fourth quarter 2015 and non-audited financial results of 12 months 2015.

After the presentation investors are welcome to ask questions. Due to the limited webinar time, please send in your questions in advance till March 13 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 ej.uz/OLF_YE2015.

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

read more
Olainfarm will hold Investor Conference Webinar about financial results of 2015

Olainfarm will hold Investor Conference Webinar about financial results of 2015

on 10 kovo, 2016 Komentavimas išjungtas įraše Olainfarm will hold Investor Conference Webinar about financial results of 2015

JSC Olainfarm invites shareholders, investors, mass media representatives and other stakeholders to join its investor conference webinar scheduled on March 14, 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 and analyze the financial results of the fourth quarter 2015 and non-audited financial results of 12 months 2015.

After the presentation investors are welcome to ask questions. Due to the limited webinar time, please send in your questions in advance till March 13 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 ej.uz/OLF_YE2015.

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

read more
Olainfarm will hold Investor Conference Webinar about financial results of 2015

Profit of Olainfarm Increases to 14.8 Million Euros

on 29 vasario, 2016 Komentavimas išjungtas įraše Profit of Olainfarm Increases to 14.8 Million Euros

Consolidated financial report of JSC Olainfarm for 2015 shows that the Group has set yet another profit record, as it made a net profit of 14.8 million euros in 2015. This represents an increase by 21% compared to 2014 and by 7% compared to 2012, when the previous profit record of 13.88 million euros was set.

Sales of JSC Olainfarm have increased by 4% compared to 2014 and was at 97.6 million euros. Thus, this has also been the best year in corporate history in terms of sales as well.

4th  quarter of 2015 has in terms of sales been the best last quarter in corporate history, as sales of the Group reached 25.7 million euros, which exceeds the sales made during 4th quarter of 2014 by 8%.  This has been achieved despite the fact that sales to many important markets, including, Ukraine, Belarus, UK and Poland were shrinking.

“Last year has really been a stamina test for Olainfarm in CIS markets. Local currencies remained considerably turbulent in Russia, Belarus, Ukraine and Kazakhstan. Belarus continues tightening imports of several products, including pharmaceuticals.  Therefore we not only try to strengthen our marketing efforts in these countries to preserve our positions, but also work towards differentiation of our sales markets. This year we plan to make a lot of efforts to launch our Turkish sales and continue with what we have started in several other new markets,” says Valerijs Maligins, Chairman of the Board of JSC Olainfarm.

During 2015 the most rapid sales growth has been achieved to the Netherlands, where sales grew by 107%.  This is where products for World Health Organization’s anti-tuberculosis program are shipped.  In 2015 sales to Tajikistan increased by 39%, sales to Latvia increased by 11%, sales to Kazakhstan increased by 7% and sales to Uzbekistan increases by 3%.  Sales to all other countries increased by 23 on average. Sales to Belarus shrunk by 19%, sales to Poland shrunk by 13%, sales to Ukraine decreased by 7%, sales to UK shrunk by 6% and sales to Russia decreased by 1%.  Major sales markets of JSC Olainfarm in 2015 were Russia, Latvia, Ukraine, Belarus and The Netherlands.

During the reporting registration processes have been launched in Bosnia And Herzegovina; Vietnam, Myanmar; GMP audit by Turkish pharmaceutical authorities has been passed, and bioavailability tests for Turkish registration completed, allowing the company to proceed with registration in Turkey. New forms have been developed for Gripoflex 325 (with reduced content of paracetamol), ACC 200mg powder, and lactose free Memantine tablets of 10mg and 20mg. The work continues at development of new combined prolonged activity form of nitrofurantoin. Two new food supplements have been developed and registered in Baltic countries with urological and hepatological application. Food supplement Jogurt Babydrops has been registered in the Baltics and is planned for further registration in 14 countries.

During the 4th quarter alone 4 registration processes have been completed in Tajikistan, Turkmenistan and Moldova, files are being prepared for South Africa, Croatia and Iraq.

Annual meeting of shareholders of JSC Olainfarm held on June 11, 2015 approved operating plan of the Group for 2015.  According to it, sales of the Group in 2015 are planned to be 100 million euros, but the net profit will reach 15 million euros.  According to this unaudited report for 2015, during this period 96% of annual sales target and 99% of annual profit target is met.

Condensed Consolidated Statement of Financial Position Group
31.12.2015 31.12.2014
EUR ‘000 EUR ‘000
     ASSETS
NON-CURRENT ASSETS
Intangible assets          20 593          18 848
Property, plant and equipment          35 591          34 674
Financial assets            4 862            4 234
TOTAL NON-CURRENT ASSETS          61 046          57 756
CURRENT ASSETS
Inventories          20 716          18 693
Receivables          31 987          28 219
Cash            5 572            2 055
TOTAL CURRENT ASSETS          58 275          48 967
TOTAL ASSETS        119 321        106 723
           EQUITY AND LIABILITIES
EQUITY
Share capital          19 719          20 041
Share premium            2 504            2 504
Reserves                322                    –
Retained earnings          65 293          50 492
Non-controlling interests                  30                    8
TOTAL EQUITY          87 868          73 045
LIABILITIES
Non-current liabilities
Borrowings            8 530          10 387
Deferred corporate income tax            1 893            1 640
Deferred income            2 656            2 099
Total Non-Current Liabilities          13 079          14 126
Current liabilities
Borrowings            4 288            6 906
Trade payables and other liabilities          13 286          12 227
Deferred income                800                419
Total Current Liabilities          18 374          19 552
TOTAL LIABILITIES          31 453          33 678
TOTAL EQUITY AND LIABILITIES        119 321        106 723

 

Consolidated statement of comprehensive income Group Group
Q4 2015 Q4 2014 M12 2015 M12 2014
EUR ‘000 EUR ‘000 EUR ‘000 EUR ‘000
Net revenue

       25 704

23 763 97 565

      93 654

Cost of goods sold

       (8 723)

(6 765)      (32 311)

     (29 683)

Gross Profit

       16 981

       16 998        65 254

       63 971

Selling expense        (7 610)        (8 380)      (27 894)      (28 037)
Administrative expense

       (7 118)

       (4 907)      (18 921)

     (16 566)

Other operating income

         1 984

          708          3 833

         1 893

Other operating expense

          (297)

          (999)        (3 445)

       (3 030)

Share of profit of an associate              40            37            118            153
Financial income

             61

             63            259

           187

Financial expense

       (1 191)

       (3 562)        (1 399)

       (4 728)

Profit Before Tax

         2 850

            (42)        17 805

       13 843

Corporate income tax

          (110)

          (132)        (2 805)

       (2 266)

Deferred corporate income tax

            (37)

           302           (191)

           657

PROFIT FOR THE REPORTING PERIOD

         2 703

           128        14 809

       12 234

Other comprehensive income for the reporting period                  –                  –                  –                  –
Total comprehensive income for the reporting period

         2 703

           128        14 809

       12 234

Total comprehensive income attributable to:
The equity holders of the Parent Company

         2 701

           131        14 801

       12 237

Non-controlling interests

              2

             (3)               8

            (3)

Basic and diluted earnings per share, EUR

            0.19

            0.01             1.05

            0.87

 

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

read more
Profit of Olainfarm Increases to 14.8 Million Euros