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Olegs Grigorjevs Appointed As the New Board Member of Olainfarm

on 24 vasario, 2016 Komentavimas išjungtas įraše Olegs Grigorjevs Appointed As the New Board Member of Olainfarm

On February 24, Supervisory Council of JSC Olainfarm has appointed Mr. Olegs Grigorjevs as the new Board Member of the Company. By mutual agreement, Ms. Marjana Ivanova- Jevsejeva has resigned from position of Board Member of JSC Olainfarm.

Olegs Grigorjevs previously held a position of Director of Commercial Department of JSC Olainfarm, having more than 20 years of experience in chemical and pharmaceutical sector. Mr. Grigorjevs joined Olainfarm in 2001. His previous career included sales units of Aroma Ltd. (1996 – 2000) and Grif Ltd. (2000 – 2001). Olegs Grigorjevs has a degree in Economics from Moscow Institute of Communications and Informatics. Mr. Grigorjevs owns no shares of JSC Olainfarm.

 

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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Olegs Grigorjevs Appointed As the New Board Member of Olainfarm

Olainfarm Starts 2016 With 14% Sales Growth

on 15 vasario, 2016 Komentavimas išjungtas įraše Olainfarm Starts 2016 With 14% Sales Growth

According to preliminary consolidated sales figures of JSC Olainfarm for January 2016, the sales have reached 8.84 million euro, which represents an increase by 14% compared to the same period of last year. The major sales increase was achieved in Belarus, where sales grew by 1001%. Sales to Turkmenistan grew by 674%, sales to Kazakhstan grew by 286%, while sales to Italy grew by 257%. During January 2016, significant shipments have also been made to Poland and Germany. The major sales markets during January 2016 were Russia, Belarus, UK and Ukraine.

January 2016, consolidated sales Sales, thsnd. EUR Changes to January 2015 Share in total sales
Russia 2 260 -1% 26%
Latvia 2 122 1% 24%
Belarus 1 520 1001% 17%
UK 866 3% 10%
Ukraine 786 -30% 9%
Poland 230 NA 3%
Kazakhstan 207 286% 2%
Germany 198 NA 2%
Turkmenistan 165 674% 2%
Italy 117 257% 1%
Other 368 -68% 4%
Total 8 840 14% 100%

 

Sales of pharmacy chain of Latvijas aptieka Ltd. during January 2016 were 1.66 million EUR, which represents an increase by 16% compared to the same period of 2015. 62 pharmacies were operating during January. Sales of Silvanols Ltd. during January 2016 were 0.32 million euros, which represents a reduction by 18% compared to January 2015. During January 2016 Silvanols Ltd. sold its products to six European countries, and with mediation of JSC Olainfarm also to Kazakhstan and Belarus.

According to preliminary unconsolidated results, sales of JSC Olainfarm in January 2016 were 7.76 million euros, which represents an increase by 19% compared to the same period one year ago. The biggest sales increase was achieved in Belarus, where sales gre by 1001%.  Sales to Turkmenistan grew by 674%, sales to Kazakhstan grew by 286%, but sales to Italy grew by 257%. During January 2016, significant shipments were also made to Poland and Germany. The major sales markets of JSC Olainfarm during this period were Russia, Belarus, Latvia, UK and Ukraine. During January of 2016, products of JSC Olainfarm were sold to 21 countries in Europe and Asia.

January 2016, unconsolidated sales Sales, thsnd. EUR Changes to January 2015 Share in total sales
Russia 2 260 -1% 29%
Belarus 1 520 1001% 20%
Latvia 1 192 1% 15%
UK 866 3% 11%
Ukraine 786 -30% 10%
Kazakhstan 207 286% 3%
Germany 198 NA 3%
Poland 180 NA 2%
Turkmenistan 165 674% 2%
Italy 117 257% 2%
Other 265 -69% 3%
Total 7 758 19% 100%

 

According to preliminary estimates of JSC Olainfarm, unconsolidated sales of the company in 2016 will reach 90 million euros, while consolidated sales will reach 103 million euros. According to these preliminary sales figures, during January 2016 the company has attained 9% of its annual target for unconsolidated sales and 9% of its annual 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

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Olainfarm Starts 2016 With 14% Sales Growth

Olainfarm Acquires Kiwi Cosmetics, Producer of Eco-cosmetics

on 20 sausio, 2016 Komentavimas išjungtas įraše Olainfarm Acquires Kiwi Cosmetics, Producer of Eco-cosmetics

Earlier this week, on January 18, 2016, JSC Olainfarm signed an agreement whereby it acquired 100% shares in eco-cosmetics company Kiwi Cosmetics Ltd..  The acquisition will allow both companies to expand and to optimize their production, enter new markets and strengthen positions in existing ones. The existing management team of Agate Jurkovska-Kanca, Elina Iltnere-Karkla and Solveiga Zvejniece will continue working in the company. According to preliminary results, sales of Kiwi Cosmetics Ltd. in 2015 were 123 000 euros.

“We very highly value the ability of different Latvian producers to supply best quality demanded products to the increasing market of admirers of a green lifestyle. Latvia has several well-cherished companies both, in area of green pharma and eco-cosmetics that for more rapid development need a little stronger base.  Therefore, we continue what we started with acquisition of Silvanols, Latvia’s green pharma leader, and are acquiring Kiwi Cosmetics, a producer of eco-cosmetics, a company, which is also driven by a desire to help people use the power of nature.  We see many synergies between Kiwi Cosmetics and Silvanols in production, marketing and exports, and between Kiwi Cosmetics and Latvijas aptieka in distribution of eco-cosmetics with health claims.  Also, experience of Olainfarm in production development, optimization and export expansion will provide considerable contribution to further growth of newly acquired company,” says Valerijs Maligins, Chairman of Olainfarm’s Board.

Co-founder of Kiwi Cosmetic Ltd., Agate Jurkovska-Kanca admits: “Five years ago, a company named “Kivvi” was founded to produce products with optimal balance between power of nature and achievements of science.  From initial portfolio of five more classical products, including facial, eye and hand creams, we have grown to more than 70 products, including a special product line for men.  We feel we have managed to make a good initial run, so Kiwi Cosmetics can now take-off and gain more and more height. We hope that soon many more people in many more countries will enjoy concentrated strength of its products. Olainfarm and its experienced team, whom we are joining will help us achieve that.”

Kiwi Cosmetics Ltd. founded in 2011 is producing eco-cosmetics for body and face, both, for men and women under “Kivvi” label.  Its product portfolio includes more than 70 names, all suitable for vegans. Most of “Kivvi” products are certified according to internationally renowned ECOCERT standards. The standard guarantees that composition of cosmetic product includes only natural ingredients, sourced from biological farming, that products are produced in energy efficient way and that the packaging is recyclable and environmentally friendly. Some 30% of sales are made in Latvia, while 70% are exported to countries, including Austria, Bulgaria, Denmark, Czech Republic, Estonia, Italy, Japan, Lithuania, Norway, Poland, Romania, Slovakia, Slovenia, Finland, Spain, Germany and Sweden.  In Latvia, products of Kiwi Cosmetics are sold in stores in Riga, Liepaja, Valmiera, Jelgava, Sigulda, Ogre, Adazi and Marupe, in beauty salons and internet shops.

Group of Olainfarm consists of parent company JSC Olainfarm, pharmacy chain of Latvijas aptieka Ltd.. JSC Olainfarm also owns 96.69% shares in leading Latvian food supplement producer Silvanols Ltd..

 

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 Acquires Kiwi Cosmetics, Producer of Eco-cosmetics

Sales of Olainfarm in 2015 Exceeds 98 Million Euros

on 15 sausio, 2016 Komentavimas išjungtas įraše Sales of Olainfarm in 2015 Exceeds 98 Million Euros

Preliminary consolidated results of JSC Olainfarm for December 2015 show that sales of the company have reached 7.4 million euros, which represents a reduction by 5% compared to the same period one year ago. The biggest sales increase was achieved in Albania, where sales grew by 153%. Sales to The Netherlands grew by 145%, sales to Georgia by 138% and sales to Tajikistan by 89%. Significant shipments during this period have also been made to Uzbekistan. Major sales markets of JSC Olainfarm during December 2015 were Russia, Latvia, and The Netherlands.

December 2015, consolidated sales Share in total sales Changes to December 2014
Russia 40% 24%
Latvia 31% 30%
The Netherlands 7% 145%
Tajikistan 3% 89%
Poland 3% 37%
Ukraine 2% -89%
Uzbekistan 2% NA
Georgia 1% 138%
Belarus 1% -91%
Albania 1% 153%
Other 8% 3%
Total 100% -5%

 

Sales of pharmacy chain of Latvijas aptieka Ltd. in December 2015 were 1.62 million euros, which represents an increase by 42% compared to the same period one year ago.  62 pharmacies were operating during December. Sales of Silvanols Ltd. during December were 0.52 million euros, which represents an increase by 24% compared to December 2014. During this period products of Silvanols Ltd. were sold to four European countries and with assistance from Olainfarm, also to Belarus and Azerbaijan.

In twelve months of 2015, according to preliminary figures, the consolidated sales of JSC Olainfarm reached 98.09 million euros, which represents an increase by 5% compared to the same period of 2014. The most rapid sales increase in 2015 was achieved in The Netherlands, where sales grew by 107%. Major sales markets of JSC Olainfarm during 2015 were Russia, Latvia, Ukraine, Belarus and The Netherlands.

12 months of 2015, consolidated sales Share in total sales Changes to 12 months of 2014
Russia 34% -1%
Latvia 24% 11%
Ukraine 13% -7%
Belarus 6% -19%
The Netherlands 6% 107%
Kazakhstan 2% 7%
UK 2% -6%
Poland 1% -13%
Uzbekistan 1% 3%
Tajikistan 1% 39%
Other 9% 23%
Total 100% 5%

 

During 12 months of 2015, sales of pharmacy chain of Latvijas aptieka Ltd. were 16.9 million euros, which represents and increase by 13% compared to 12 months of 2014. Sales of Silvanols Ltd. during 2015 was 4.4 million euros, which represents an increase by 26% compared to 2014, when Silvanols Ltd. made sales worth 3.5 million euros. Products of Silvanols Ltd. during 2015 were sold to 13 countries on two continents, and with the help of JSC Olainfarm also to Belarus, Kazakhstan and Azerbaijan.

According to unconsolidated preliminary results, sales of JSC Olainfarm during December 2015 were 6.08 million euros, which represents a reduction by 12% compared to December 2014. The biggest sales increase was achieved in Albania, where sales grew by 153%. Sales to The Netherlands grew by 145%, sales to Georgia grew by 138%, while sales to Tajikistan grew by 89%. Significant shipments during this period were also made to Uzbekistan. The major sale markets of JSC Olainfarm in December 2015 were Russia, Latvia, and The Netherlands. In total during this period JSC Olainfarm sold its products in 24 countries on three continents.

December 2015, unconsolidated sales Share in total sales Changes to December 2014
Russia 49% 24%
Latvia 18% 13%
The Netherlands 8% 145%
Tajikistan 4% 89%
Ukraine 3% -89%
Poland 2% 4%
Uzbekistan 2% NA
Georgia 2% 138%
Belarus 1% -91%
Albania 1% 153%
Other 9% 13%
Total 100% -12%

 

According to preliminary unconsolidated results, during 12 months of 2015, sales of JSC Olainfarm were 85.67 million euros, which represents an increase by 5% compared to the same period of 2014. The most rapid sales increase in 2015 was achieved in The Netherlands, where sales grew by 107%. Sales to Turkmenistan grew by 46%, sales to Tajikistan grew by 39% and sales to Latvia grew by 25%. According to preliminary unconsolidated results, the major sales markets of JSC Olainfarm in 2015 were Russia, Ukraine, Latvia, Belarus and The Netherlands. In total during 2015 JSC Olainfarm sold its products in 42 countries on five continents.

12 months of 2015, unconsolidated sales Share in total sales Changes to 12 months of 2014
Russia 39% -1%
Ukraine 15% -7%
Latvia 14% 25%
Belarus 7% -19%
The Netherlands 7% 107%
Kazakhstan 3% 7%
UK 2% -6%
Uzbekistan 2% 3%
Tajikistan 2% 39%
Turkmenistan 1% 46%
Other 9% 9%
Total 100% 5%

 

Annual General Meeting of shareholders of JSC Olainfarm, held on June 11, 2015 approved operating plan of the company, according to which the unconsolidated sales of the company in 2015 will reach 87 million euros, while consolidated sales will reach 100 million euro. According to these preliminary sales figures, the company has attained 98% of annual target for unconsolidated sales and 98% of annual 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

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Sales of Olainfarm in 2015 Exceeds 98 Million Euros

Olainfarm will hold Third Quarter 2015 Investor Conference Webinar

on 12 gruodžio, 2015 Komentavimas išjungtas įraše Olainfarm will hold Third Quarter 2015 Investor Conference Webinar

JSC Olainfarm invites shareholders, investors, mass media representatives and other stakeholders to join its third quarter 2015 investor conference webinar scheduled on December 22, 2015 at 16:00 (EET). Please note that attendees have to register for the webinar – detailed information on the registration process is available 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 non-audited financial results of the third quarter 2015.

After the presentation investors are welcome to ask questions. Due to the limited webinar time, please send in your questions in advance till December 21 to e-mail: ieva.kadakovska@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_3Q2015.

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
Member of the Board
JSC Olainfarm
Tel: +371 6 7013 717
e-mail: Salvis.Lapins@olainfarm.lv

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Olainfarm will hold Third Quarter 2015 Investor Conference Webinar

Nine Months Sales of Olainfarm: 71.9 Million Euros

on 30 lapkričio, 2015 Komentavimas išjungtas įraše Nine Months Sales of Olainfarm: 71.9 Million Euros

Unaudited profit and loss account of JSC Olainfarm for nine months of 2015 shows that with the sales worth 71.9 million euros, the Group has experiences the best nine months in its corporate history. Sales have increased by 3%, while profit has remained almost unchanged, as it has shrunk by 1000 euros and equals 12.105 million euros. Main sales markets of JSC Olainfarm during this period were Russia, Latvia, Ukraine, Belarus and The Netherlands.

3rd quarter of 2015 has in terms of sales been the best third quarter in corporate history, as sales of the Group reached 21.8 million euros, which exceeds the sales made during 3rd quarter of 2014 by more than 2%. During this period the company made a net profit of 2.8 million euros, which represents a reduction by 12% compared to the same period of last year.

Condensed Consolidated Statement of Financial Position

Group

30.09.2015

31.12.2014

EUR ’000

EUR ’000

ASSETS
NON-CURRENT ASSETS
Intangible assets

20 063

18 848

Property, plant and equipment

36 501

34 674

Financial assets

4 085

4 234

TOTAL NON-CURRENT ASSETS

60 649

57 756

CURRENT ASSETS
Inventories

20 013

18 693

Receivables

33 023

28 219

Cash

2 489

2 055

TOTAL CURRENT ASSETS

55 525

48 967

TOTAL ASSETS

116 174

106 723

EQUITY AND LIABILITIES
EQUITY
Share capital

19 719

20 041

Share premium

2 504

2 504

Reserves

322

Retained earnings

62 591

50 492

Non-controlling interests

28

8

TOTAL EQUITY

85 164

73 045

LIABILITIES
Non-current liabilities
Borrowings

9 761

10 387

Deferred corporate income tax

1 830

1 640

Deferred income

2 706

2 099

Total Non-Current Liabilities

14 297

14 126

Current liabilities
Borrowings

4 957

6 906

Trade payables and other liabilities

11 177

12 227

Deferred income

579

419

Total Current Liabilities

16 713

19 552

TOTAL LIABILITIES

31 010

33 678

TOTAL EQUITY AND LIABILITIES

116 174

106 723

 

Consolidated statement of comprehensive income

Group

Group

Q3 2015

Q3 2014

M9 2015

M9 2014

EUR ’000

EUR ’000

EUR ’000

EUR ’000

Net revenue

21 792

21 328

71 861

69 891

Cost of goods sold

(7 346)

(7 647)

(23 588)

(22 918)

Gross Profit

14 446

13 681

48 273

46 973

Selling expense

(6 732)

(6 466)

(20 284)

(19 617)

Administrative expense

(3 633)

(3 315)

(11 851)

(11 188)

Other operating income

1 159

533

2 487

1 514

Other operating expense

(37)

(870)

(3 739)

(2 871)

Share of profit of an associate

(17)

23

78

116

Financial income

69

42

198

124

Financial expense

(2 226)

(272)

(208)

(1 166)

Profit Before Tax

3 029

3 356

14 954

13 885

Corporate income tax

(185)

(455)

(2 695)

(2 134)

Deferred corporate income tax

(19)

296

(154)

355

PROFIT FOR THE REPORTING PERIOD

2 825

3 197

12 105

12 106

Other comprehensive income for the reporting period

Total comprehensive income for the reporting period

2 825

3 197

12 105

12 106

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

2 823

3 180

12 099

12 106

Non-controlling interests

2

17

6

Basic and diluted earnings per share, EUR 0.20 0.23 0.86 0.86

 

“Successful operations in Latvia and Lithuania and good cooperation with the World Health Organization’s anti-tuberculosis program are the key driving forces behind these record sales. However, we realize that continuing with such series of records becomes increasingly difficult as new challenges are appearing in several important CIS markets. In addition to economic instability and depreciating local currencies have left a significant impact on purchasing power of local population. In addition to these factors, governments of CIS countries use administrative methods to limit imports of different products, including pharmaceuticals. Therefore we have to continue searching for possibilities to further diversify our sales markets and strengthen our presence there”, says Salvis Lapins, Member of company’s Board.

During nine months of 2015 Company’s sales grew in Latvia (by 9%), The Netherlands (WHO shipments, by 181%), Kazakhstan (by 2%), Lithuania (by 185), and other countries (by 28% on average). Sales have been shrinking to Ukraine (by 15%), Belarus (by 7%), UK (by 9%), Uzbekistan (by 6%) and Russia (by 3%). In total, during this nine months period JSC Olainfarm was selling its products to 41 countries on five continents.

During the 3rd quarter, 5 registration processes have been completed in Azerbaijan, Ukraine and Romania. A food supplement Jogurt Babydrops has been registered in Latvia. Further extension of Gripoflex line has been launched.

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 9 months of 2015, during this period 72% of annual sales target and 81% of annual profit target is met.

JSC Olainfarm UNAUDITED INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS FOR THE 9 MONTHS PERIOD ENDED 30 SEPTEMBER 2015

 

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
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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Nine Months Sales of Olainfarm: 71.9 Million Euros

Marjana Ivanova-Jevsejeva to Become a Board Member of JSC Olainfarm

on 16 lapkričio, 2015 Komentavimas išjungtas įraše Marjana Ivanova-Jevsejeva to Become a Board Member of JSC Olainfarm

Today the Supervisory Council of JSC Olainfarm decided to elect Mrs. Marjana Ivanova – Jevsejeva to be the new Board member of JSC Olainfarm.  This decision will take effect once the respective entry is made into the Commercial Register of Latvian Enterprise Register. Mrs Inga Liscika is therefore dismissed from the position of a Board member.

Previous positions of Marjana Ivanova – Jevsejeva include Member of Latvian Parliament, Socioeconomics analyst at Fenster publishing house and Project manager at Daugavpils city Council. Educational background of Mrs. Ivanova – Jevsejeva includes Master degrees of Public Administration and Social sciences from University of Daugavpils and BBA degree of Baltic Russian Institute.

CV of the Newly Elected Board Member of JSC Olainfarm Mrs. Marjana Ivanova – Jevsejeva: CV_Ivanova_Jevsejeva_EN

 

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
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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Marjana Ivanova-Jevsejeva to Become a Board Member of JSC Olainfarm

Sales of Olainfarm in Ten Months Exceed 81 Million Euro

on 16 lapkričio, 2015 Komentavimas išjungtas įraše Sales of Olainfarm in Ten Months Exceed 81 Million Euro

Preliminary consolidated sales results of JSC Olainfarm for October 2015 show that sales during this months have reached 8.38 million euros, which represents an increase by 1% compared to the same period of 2014. The biggest sales increase was achieved in Ukraine, where sales grew by 9094%. Sales to Switzerland grew by 572%, while sales to Kazakhstan grew by 100%. During October 2015 significant shipments were also made to Brazil. Major sales markets of  JSC Olainfarm during October 2015 were Russia, Latvia, Ukraine, Belarus and Kazakhstan.

October 2015, consolidated sales Share in total sales Changes to October 2014
Russia 26% -41%
Latvia 26% 8%
Ukraine 22% 9094%
Belarus 9% 18%
Kazakhstan 4% 100%
Brazil 2% NA
Poland 1% -22%
Switzerland 1% 572%
Albania 1% 26%
Turkmenistan 1% -21%
Other 7% -59%
Total 100% 1%

 

Sales of pharmacy chain of Latvijas Aptieka Ltd., fully owned by JSC Olainfarm, were 1.6 million euros in October 2015.  This represents an increase by 8%, compared to October 2014.  59 pharmacies were operating during this period.  Sales of Silvanols Ltd. during October 2015 were 0.39 million euros, which represents a reduction by 3% compared to the same period one year ago.  Silvanols Ltd. sold its products to four European countries directly and to Belarus and Azerbaijan via system of JSC Olainfarm.

According to preliminary consolidated results for ten months of 2015, sales of JSC Olainfarm have reached 81.42 million euros, which represents an increase by 4% compared to the same period of 2014.  The most rapid sales increase was achieved in The Netherlands, where sales grew by 181%.  Major sales markets of JSC Olainfarm during this period were Russia Ukraine, Latvia, Belarus and The Netherlands.

10 months of 2015, consolidated sales Share in total sales Changes to 10 months of 2014
Russia 33% -8%
Ukraine 13% 3%
Latvia 23% 9%
Belarus 7% -5%
The Netherlands 6% 181%
Kazakhstan 3% 12%
UK 2% -7%
Uzbekistan 1% -4%
Tajikistan 1% 28%
Poland 1% -25%
Other 9% 8%
Total 100% 4%

 

Sales of chain of pharmacies of  Latvijas Aptieka Ltd. during ten months of 2015 were 13.8 million euros, which represents an increase by 10% compared to ten months of 2014.  Sales of Silvanols Ltd. in ten months were 3.3 million euros, this represents an increase by 19% compared to same period of 2014, when it made sales of 2.78 million euros.  During this period Silvanols Ltd. sold its products to 13 countries in two continents, and via system of JSC Olainfarm to Belarus, Azerbaijan and Kazakhstan.

According to preliminary unconsolidated results, sales of JSC Olainfarm during October 2015 were 7.24 million euros, which represents an increase by 7% compared to the same period of 2014. The biggest sales increase was achieved in Poland, where sales grew by 173 513%. Sales to Ukraine grew by 9094%, sales to Switzerland grew by 572%, but sales to Kazakhstan grew by 100%. During this period significant shipments were also made to Brazil.  Major sales markets of JSC Olainfarm during October 2015 were Russia, Ukraine, Latvia, Belarus and Kazakhstan.  During October 2015, JSC Olainfarm sold its products to 24 countries on three continents.

October 2015, unconsolidated sales Share in total sales Changes to October 2014
Russia 30% -41%
Ukraine 25% 9094%
Latvia 15% 5%
Belarus 10% 18%
Kazakhstan 5% 100%
Brazil 2% NA
Poland 2% 173513%
Switzerland 1% 572%
Albania 1% 26%
Turkmenistan 1% -21%
Other 7% -48%
Total 100% 7%

 

According to preliminary unconsolidated results for ten months of 2015, sales of JSC Olainfarm were 71.49 million euros, which represents an increase by 5% compared to the same period one year ago.   The most rapid sales increase during this period was achieved in The Netherlands, where sales grew by 181%.  Sales to Turkmenistan grew by 35%, sales to Tajikistan and Latvia grew by 28%.  According to preliminary unconsolidated results, major sales markets of JSC Olainfarm in ten months of 2015 were Russia, Ukraine, Latvia, Belarus and The Netherlands. In total during this ten months period products of JSC Olainfarm were sold to 42 countries on five continents.

10 months of 2015, unconsolidated sales Share in total sales Changes to 10 months of 2014
Russia 38% -8%
Ukraine 15% 3%
Latvia 14% 28%
Belarus 8% -5%
The Netherlands 7% 181%
Kazakhstan 3% 12%
UK 2% -7%
Uzbekistan 2% -4%
Tajikistan 1% 28%
Turkmenistan 1% 35%
Other 9% 1%
Total 100% 5%

 

Annual General Meeting of shareholders of JSC Olainfarm, held on June 11, 2015 approved operating plan of the company, according to which the unconsolidated sales of the company in 2015 will reach 87 million euros, while consolidated sales will reach 100 million euro.  According to these preliminary sales figures, in ten months of 2015, the company has attained 82% of annual target for unconsolidated sales and 81% of annual 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 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

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Sales of Olainfarm in Ten Months Exceed 81 Million Euro

Olainfarm Recognised as the Best Employer in the Region of Riga

on 13 lapkričio, 2015 Komentavimas išjungtas įraše Olainfarm Recognised as the Best Employer in the Region of Riga

Yesterday, on 12 November, at the Annual Award ceremony of the Employer’s Confederation of Latvia (ECL), where the best employers and supporting bodies in Latvia were honoured, JSC Olainfarm received the award as the best employer in the region of Riga. It was presented to the Member of the Board of JSC Olainfarm Jeļena Borcova by the Director General of the ECL Līga Meņģelsone and the member of the Council of the ECL, the Chairman of the Board and the Chief Executive Officer of Lattelecom Ltd. Juris Gulbis.

In his address to the ECL Annual Award winners, the President of the State Raimonds Vējonis said: “The work is the link uniting employers, employees, and the State. It is an important skill to perform work, but bigger yet — to create work. You need knowledge, initiative, courage and boldness.

We in Latvia can be proud with you — daring, talented, skilful people, whose knowledge, experience, and endeavours, in building strong companies, help creating jobs. This contributes immensely to our economy and recognisability of our country the world over.”

ECL adds that the award was given to JSC Olainfarm because the company can not only develop new medicines and conquer new markets across the globe, but also truly thoughtfully care for its employees and the future of the region.

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Olainfarm Recognised as the Best Employer in the Region of Riga

Ambassador of Ukraine to Latvia visits Olainfarm

on 15 rugsėjo, 2015 Komentavimas išjungtas įraše Ambassador of Ukraine to Latvia visits Olainfarm

On Monday, 14 September, the Ambassador of Ukraine to Latvia Yevgen Perebyinis visited JSC Olainfarm. During the visit, the Ambassador together with representatives from the Embassy of Ukraine in Latvia learnt about the operations at the plant of JSC Olainfarm and met its management to discuss the opportunities of strengthening the positions of the company on the Ukrainian market.

„During the visit, I could see that Olainfarm is a modern, dynamically growing company, and I can say without exaggerating that it is the flagship of the pharmaceutical industry in the Baltic region. It employs not only professionals, but also an excellent team of people who think alike and who care about the image of the company, town and country. Leading technologies and creative, innovative approach allow the company to maintain stable positions on the markets of many countries. It includes also Ukraine, where the products of Olainfarm are in demand for many years now, but the company is considered a convincing authority. I am certain that the co-operation between Olainfarm and its Ukrainian partners will continue developing and will get closer,“ after the visit said the Ambassador of Ukraine to Latvia Yevgen Perebyinis.

JSC Olainfarm has a representation in the capital of Ukraine Kiev. According to preliminary consolidated results of JSC Olainfarm for the seven months of 2015, Ukraine with a 12% share in the total sales figures is the third largest market of the company.

 

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
Cell: +371 2 6377286
E-mail: slapsina@olainfarm.lv

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Ambassador of Ukraine to Latvia visits Olainfarm