According to preliminary consolidated results of JSC Olainfarm for November of 2014, company’s sales have reached 6.75 million euro, which represents a reduction by 27% compared to the same period one year ago. The biggest sales increases were achieved in The Netherlands, where sales grew by 227%, and sales to Lithuania have grown by 94%, while sales to Uzbekistan have grown by 51%.  The major sales markets of JSC Olainfarm in November 2014 were Russia, Latvia, The Netherlands and Belarus.

Sales of pharmacy chain of Latvijas Aptieka Ltd., fully owned by JSC Olainfarm during this period were 1.3 million euro, and the chain consisted of 57 operating pharmacies. Sales of Silvanols Ltd. in this period were 0.29 million euro, and the sales were made to four European companies.

According to preliminary consolidated figures, during eleven months of 2014, JSC Olainfarm made sales worth 84.77 million euro, which represents an increase by 17% compared to the same period of 2013.  The most rapid sales increases during this period were achieved in Poland, where sales grew by 378%, sales to The Netherlands grew by 170% and sales to Lithuania grew by 56%.  The major sales markets of JSC Olainfarm during 11 months of 2014 were Russia, Latvia, Ukraine and Belarus.

Sales of pharmacy chain of Latvijas Aptieka Ltd., fully owned by JSC Olainfarm during 11 months were 13.8 million euro. Sales of Silvanols Ltd. in 11 months period were 3.07 million euro, and the sales were made to ten European companies.

According to preliminary unconsolidated results of JSC Olainfarm for November of 2014, company’s sales have reached 5.79 million euro, which represents a reduction by 13% compared to the same period one year ago. The biggest sales increases were achieved in The Netherlands, where sales grew by 227%, and sales to Lithuania have grown by 156%, while sales to Uzbekistan have grown by 51%.  Sales to Latvia have grown by 36%. The major sales markets of JSC Olainfarm in November 2014 were Russia, Latvia, The Netherlands and Belarus. In November 2014 JSC Olainfarm made sales to 19 countries on 3 continents.

According to preliminary unconsolidated figures, during eleven months of 2014, JSC Olainfarm made sales worth 73.58 million euro, which represents an increase by 21% compared to the same period of 2013.  The most rapid sales increases during this period were achieved in Poland, where sales grew by 1013%, sales to The Netherlands grew by 170% and sales to Tajikistan grew by 58%.  Sales to Latvia grew by 34% According to preliminary unconsolidated sales figures, the major markets of JSC Olainfarm during 11 months of 2014 were Russia, Ukraine, Latvia and Belarus. During eleven months of 2014 the sales were made to 35 countries on five continents.

On April 29, 2014 an AGM of JSC Olainfarm approved an operating plan of the company, providing that the unconsolidated sales target for 2014 is 80 million euro, while consolidated sales target for 2014 is 93 million euro.  According to these preliminary sales results, in eleven months of 2014 JSC Olainfarm has met 92% on annual unconsolidated sales target and 91% of annual consolidated sales target.

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

Unaudited profit and loss account for 9 months of 2014 shows that the group has experiences its best nine months so far as it made the net profit of 12.1 million euros and sales of 69.9 million euros.  Net profit has increased by 37%, whereas new sales by 30% compared to the same period one year ago.  The major sales markets of JSC Olainfarm during this period were Russia, Latvia, Ukraine, Belarus and The Netherlands.

Also a third quarter has been the most successful third quarter  for JSC Olainfarm in terms of sales so far, as it made sales of 21.3 million euros, which represents an increase by 12% compared to the same period of last year.  Net profit of the company during this quarter was 3.2 million euro.  This represents a reduction by 12.5% compared to the last year, but it has to be noted that due to economic difficulties in two of company’s key markets, the company decided to create provisions of 0.7 million euros for Russian and Ukrainian receivables..

„We have experienced the best third quarter in terms of sales and the best nine months in terms of the net profit in our history.  This and the next year our main focus will be on significant improvement of company’s infrastructure as well as increase of our presence in new export markets.  We are glad to have new market authorisations in countries that are hardly typical for us, including Peru, Bhutan, Mongolia, Romania and Kosovo.  First shipment to Mongolia might even take place later this year,” says Valerijs Maligins, Chairman of the Board of JSC Olainfarm.

During nine months of 2014 sales to all company’s main markets continued increasing except for Kazakhstan, where they shrunk by 11%, compared to the same period of 2013.  To a large extent such reduction was caused by the devaluation of Kazakhstan’s currency, but the decline in sales slowed down during the third quarter. The most rapid sales increases during the reporting period were achieved to Poland, where sales grew by 714%, The Netherlands by 184%, Ukraine by 119%, and Lithuania by 94.  In total during nine months products of JSC Olainfarm were sold to 32 countries in 5 continents.

During the 9 months of 2014 35 registration cases have been approved in several countries, including such untraditional countries for JSC Olainfarm as Peru, Mongolia, Bhutan, Romania and Kosovo.  Several products are still in the process of obtaining MAs, among other countries, in Turkey, registration processes have been launched in Bosnia and Herzegovina and other new markets.  Preclinical trials of R-phenylpiracetam are being conducted and totally new forms and line extensions of existing products are being developed.  Among other things the company works at development of a new nootropic medication, new product of nitrofurantoine group and a new food supplement.  New final dosage laboratory is undergoing a significant modernisation.

Annual meeting of shareholders of JSC Olainfarm held on April 29, 2014 approved operating plan of the Group.  According to it, sales of the Group in 2014 are planned to be 93 million euros, but the net profit will reach 15 million euros.  According to this unaudited report for 9 months of 2014, during this period 75.2% of annual sales target and 80.7% of annual profit target is met.

 JSC Olainfarm is one of the biggest pharmaceutical companies in Latvia with more than 40 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company’s operations is to produce reliable and effective top quality products for Latvia and the rest of the world. Products made by the Group are being exported to more than 35 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

Information prepared by:

Salvis Lapins
Member of the Board
JSC Olainfarm
Tel: +371 6 7013 717
Cell: +371 2 6448 873
E-mail: slapinsh@olainfarm.lv

Management Board of the Joint Stock company Olainfarm (registration number. 40003007246, registered address: Rupnicu iela 5, Olaine, LV-2114) announces that the Extraordinary General Meeting of JSC Olainfarm Shareholders will be convened on December 17, 2014 at 11:00 at the premises of JSC Olainfarm in Olaine, Rupnicu iela 5.
Agenda:
1. Elections of the Council.
2. Amendments of the Articles of Association and denomination of the face value of shares from lats to  euro.
3. Regarding approval of the separate audited report of JSC Olainfarm for the Year 2013, prepared in accordance with the International Financial Reporting Standards accepted in European Union.

Registration of the shareholders will take place on the day of the meeting, i.e. December 17, 2014 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 Extraordinary General Meeting or shareholders of JSC Olainfarm is December 9th, 2014. Only those who are the shareholders at the date of record have the right to participate in the Extraordinary General Meeting of shareholders on December 17, 2014, with the number of shares held by them at the date of record.

Shareholders may participate in the Extraordinary 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 of 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 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  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 Extraordinary 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 Extraordinary General Meeting of Shareholders itself;
– should the shareholder submit an inquiry at least 7 days before the Extraordinary General Meeting of shareholders, the Management Board shall at least 3 days before the Extraordinary 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 Extraordinary General Meeting of Shareholders from December 03, 2014 until December 16, 2014 on working 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 794 or on the web page of JSC Olainfarm https://lt.olainfarm.com, but on the day of the Extraordinary General Meeting – at the registration desk.

Information about the Extraordinary General Meeting and rights of the shareholders is also available at web page of JSC Olainfarm https://lt.olainfarm.com, the system of Central Storage of Regulated Information http://www.oricgs.lv and the web page of NASDAQ OMX Riga http://www.nasdaqomxbaltic.com.

Management Board of the JSC Olainfarm
In Olaine, November 13th, 2014

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Statutu_grozijumi_2014_ENG

Preliminary consolidated sales results of JSC Olainfarm for October 2014 show that the sales of the company were 8.29 million euros, which represents a reduction by 3% compared to the same period one year ago.  The biggest sales increases were achieved in Italy and Russia, where they grew by 383% and 55% respectively. During October 2014 significant sales were also made to Germany and Australia. The major sales markets of JSC Olainfarm in October 2014 were Russia, Latvia, Belarus and Ukraine.

Sales of pharmacy chain of Latvijas aptieka Ltd., fully owned by JSC Olainfarm during October 2014 were 1.48 million euros. 56 pharmacies were operating during this period. Sales of Silvanols Ltd. during October 2014 were 0.4 million euros. Sales were made to 6 European countries.

In ten months of 2014, according to preliminary figures, consolidated sales of JSC Olainfarm were 78.49 million euros, which represents an increase by 25% compared to the same period one year ago. The biggest sales increases during this period were achieved in Poland, where sales increased by 369%, sales to The Netherlands grew by 151%; sales to Ukraine grew by 76%, while sale to Lithuania grew by 45%.  The major sales markets of JSC Olainfarm in ten months of 2014 were Russia, Latvia, Ukraine and Belarus.

Sales of pharmacy chain of Latvijas aptieka Ltd., fully owned by JSC Olainfarm in ten months of 2014 were 12.5 million euros. Sales of  Silvanols Ltd. during this period were 2.78 million euros.  Sales were made to 9 European countries.

According to unconsolidated preliminary results of JSC Olainfarm, sales made during October 2104 were 7.21 million euro, which represents a reduction by 7%, compared to the same period one year ago. The biggest sales increases were achieved in Italy and Russia, where they grew by 383% and 55% respectively. During October 2014 significant sales were also made to Germany and Australia. The major sales markets of JSC Olainfarm in October 2014 were Russia, Latvia, Belarus and Ukraine.

In ten months of 2014, according to preliminary figures, unconsolidated sales of JSC Olainfarm were 68.24 million euros, which represents an increase by 26% compared to the same period of 2013. The biggest sales increases during this period were achieved in Poland, where sales increased by 993%, sales to The Netherlands grew by 151%; sales to Ukraine grew by 76%, while sale to Lithuania grew by 51%.  According to preliminary unconsolidated sales figured, the major sales markets of JSC Olainfarm in ten months of 2014 were Russia, Ukraine, Latvia and Belarus. In total during nine months the sales have been made to 34 countries on five continents

On April 29, 2014 an AGM of  JSC Olainfarm approved an operating plan of the company, providing that the unconsolidated sales target for 2014 is 80 million euro, while consolidated sales target for 2014 is 93 million euro.  According to these preliminary sales results, in ten months of 2014 JSC Olainfarm has met 84% on annual unconsolidated sales target and 84% of annual consolidated sales target.

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

During October 27-31 representatives of JSC Olainfarm will go on a roadshow to update Baltic and Nordic investors about company’s recent performance, current status and future prospects.

„An ongoing communication with investors in a manner most convenient for them is a cornerstone of good investor relations, therefore we provide monthly updates on our sales development, deliver timely disclosures and talk to our investors in our quarterly webinars. However, all of that is a distant communication that can not replace relationships that can only be established in live meetings.  Therefore we are going on this roadshow, so we not only present our story, but listen to investors and understand what their expectations are,” says Salvis Lapins, Member of the Board of JSC Olainfarm, Head of company’s Investor relations.

The investors will be introduced to the enclosed presentation, that pays particular attention to company’s operations in Russia and Ukraine as well as to company’s CAPEX programme: Olainfarm Roadshow Presentation 2014

JSC Olainfarm is one of the biggest pharmaceutical companies in Latvia with more than 40 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company’s operations is to produce reliable and effective top quality products for Latvia and the rest of the world. Products made by the Group are being exported to more than 35 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

Information prepared by:

Salvis Lapins
Member of the Board
JSC Olainfarm
Tel: +371 6 7013 717
Cell: +371 2 6448 873
E-mail: slapinsh@olainfarm.lv

According to preliminary consolidated results of JSC Olainfarm for September 2014, sales of the company have reached 8.47 million euro, which represents an increase by 7% compared to the same period of last year. The biggest sales increase was achieved in The Netherlands, where sales grew by 2940%.  Sales to Poland grew by 681%; sales to Georgia grew by 358% while sales to Kazakhstan grew by 131%.  Major sales markets of JSC Olainfarm in September 2014 were Russia, Latvia, Ukraine and Belarus.

Sales of pharmacy chain of Latvijas aptieka Ltd. fully owned by JSC Olainfarm in September were 1.32 million euro.  55 pharmacies were operating during this period. Sales of Silvanols Ltd. during this period were 0.47 million euro and the company was selling its products in 7 European countries.

During nine months of 2014, according to preliminary consolidated results, sales of  JSC Olainfarm were 70.2 million euro, which represents an increase by 32% compared to the same period of 2013.  The most rapid sales increase was achieved in Poland, where sales increased by 714%. Sales to The Netherlands grew by 184%, sales to Ukraine by 119%, and sales to Lithuania grew by 94%. Major sales markets of JSC Olainfarm in nine months of 2014 were Russia, Latvia, Ukraine and Belarus.

Sales of pharmacy chain of Latvijas aptieka Ltd. fully owned by  JSC Olainfarm in 9 months were 11.1 million euro.  Sales of Silvanols Ltd. in nine months were 2.38 million euro and the company was selling its products in 9 European countries.

According to preliminary unconsolidated results for September 2014, sales of JSC Olainfarm during this period were 7.27 million euro, which represents an increase by 10% compared to the same period one year ago.  The biggest sales increase was achieved in The Netherlands, where sales grew by 2940%.  Sales to Poland grew by 1015%; sales to Georgia grew by 358%, while sales to Kazakhstan grew by 131%. Major sales markets of JSC Olainfarm in September 2014 were Russia, Latvia, Ukraine, Belarus and The Netherlands.  During September 2014 products of JSC Olainfarm were sold to 22 countries on 4 continents.

In nine months of 2104, according to preliminary unconsolidated results, the sales of JSC Olainfarm were 61.04 million euro, which represents an increase by 32% compared to the same period one year ago.  The biggest sales increase was achieved in Poland, where sales grew by 3186%. Sales to The Netherlands grew by 184%; sales to Ukraine grew by 119%, while sales to Tajikistan grew by 61%.  According to preliminary unconsolidated results, the major sales markets of JSC Olainfarm in nine months of 2014 were Russia, Ukraine, Latvia and Belarus. During 9 months of 2014 products of JSC Olainfarm were sold to 32 countries on 5 continents.

On April 29, 2014 an AGM of JSC Olainfarm approved an operating plan of the company, providing that the unconsolidated sales target for 2014 is 80 million euro, while consolidated sales target for 2014 is 93 million euro.  According to these preliminary sales results, in nine months of 2014 JSC Olainfarm has met 76% on annual unconsolidated sales target and 75% of annual consolidated sales target.

JSC Olainfarm is one of the biggest pharmaceutical companies in Latvia with more than 40 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company’s operations is to produce reliable and effective top quality products for Latvia and the rest of the world. Products made by the Group are being exported to more than 35 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

Information prepared by:

Salvis Lapins
Member of the Board
JSC Olainfarm
Tel: +371 6 7013 717
Cell: +371 2 6448 873
E-mail: slapinsh@olainfarm.lv

According to preliminary consolidated sales results of  JSC Olainfarm for August 2014, company’s sales have reached 6.68 million euro, which represents an increase by 7% compared to the same period one year ago.  The biggest sales increases were achieved in Azerbaijan, where sales grew by 303%, while sales to Lithuania grew by 83%.  During August 2014 significant shipments have also been made to The Netherlands and Turkmenistan.  Major sales markets of JSC Olainfarm in August 2014 were Russia, Latvia, Ukraine and Belarus.

Latvijas aptieka LTD, a pharmacy chain fully owned by JSC Olainfarm in August 2014 made the monthly sales of 1.14 million euro.  54 pharmacies were operating during this period.  Sales of Silvanols LTD in August were 0.14 million euro.

In eight months of 2014 according to preliminary consolidated data, the sales of JSC Olainfarm were 61.7 million euro, which represents an increase by 34% compared to the respective period of 2013.  The most rapid sales increases were achieved in Poland, where sales grew by 725%, sales to Ukraine grew by 170%, sales to The Netherlands grew by 135%, but sales to Lithuania grew by 83%.  The biggest sales markets of JSC Olainfarm in eight months of 2014 were Russia, Latvia, Ukraine and Belarus.

Latvijas aptieka LTD, a pharmacy chain fully owned by JSC Olainfarm in eight months of 2014 made the sales of 9.74 million euro. Sales of Silvanols LTD in eight months were 1.9 million euro.

According to preliminary unconsolidated sales results of Olainfarm JSC for August 2014, the sales during this month were worth 5.79 million euro, which represents an increase by 7% compared to the same period one year ago.  The biggest sales increases were achieved in Azerbaijan, where sales grew by 303%, while sales to Ukraine and Belarus grew by 27%.  Also during this period significant shipments have been made to The Netherlands and Turkmenistan.  The biggest markets of JSC Olainfarm during august 2014 were Russia, Ukraine, Belarus and Latvia.  During August, 2014  JSC Olainfarm made sales to 18 countries on 3 continents.

In eight months of 2014 according to preliminary unconsolidated data, the sales of JSC Olainfarm were 53.76 million euro, which represents an increase by 36% compared to the respective period of 2013.  The most rapid sales increases were achieved in Poland, where sales grew by 11926%, sales to Ukraine grew by 170%, sales to The Netherlands grew by 135%, but sales to Tajikistan by 77%.  The biggest sales markets of JSC Olainfarm in eight months of 2014 were Russia, Ukraine, Latvia and Belarus. In total during eight months of 2014, JSC Olainfarm has made sales to 32 countries on five continents.

On April 29, 2014 an AGM of JSC Olainfarm approved an operating plan of the company, providing that the unconsolidated sales target for 2014 is 80 million euro, while consolidated sales target for 2014 is 93 million euro.  According to these preliminary sales results, in eight months of 2014 JSC Olainfarm has met 67% on annual unconsolidated sales target and 66% of annual consolidated sales target.

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

Unaudited report of JSC Olainfarm for first six months of 2104 shows that the consolidated profit was 8.9 million euro, while consolidated sales were 48.6 million euro.  The profit has increased by 73%, while sales increased by 41%, compared to the same period of 2013. Major sales markets of JSC Olainfarm during this period were Russia, Ukraine, Latvia, Belarus and the UK.

Thus JSC Olainfarm has experienced its most profitable quarter making the new profit of 5.25 million euro, which is by 119% more than the net profit of the second quarter of 2013.  In terms of sales this has also been the most successful second quarter as 25.2 million euros worth of sales were made, which is an increase by 52% compares to the same period one year ago.

„Despite very tense relations between Russia and Ukraine, we managed to make this our best six months so far, both in terms of sales and profits. However, we cannot be sure that this conflict or related sanctions will not influence us in the future. As political and economic outlook for Russia and Ukraine is very difficult to predict at this point, we have decided to make provisions on all receivable outstanding from these countries as of June 30th,” says Valerijs Maligins, Chairman of the Board of JSC Olainfarm.

During the 1st half of 2014 sales to all company’s main markets continued increasing except for Kazakhstan, where they shrunk by 27%, compared to 1st half of 2013. Such a reduction was expected, mainly because of devaluation of Kazakhstan’s currency. The most rapid sales increases during the 1st half of 2014 were achieved to Poland, where sales grew by 13434%, Ukraine by 303%, The Netherlands by 180% and Uzbekistan by 102%.  In total during six months of 2014,  JSC Olainfarm made sales to 32 countries on 5 continents.

During this period 27 registration cases have been approved in 12 countries, including Poland, Mongolia, Romania and Kosovo.  Several products are still in the process of obtaining MAs, among other countries, in Turkey and Kosovo, registration processes have been launched in Bosnia and Herzegovina and other new markets. Preclinical trials of R-Phenylpiracetam are being conducted and totally new forms and line extensions of existing products are being developed

Annual meeting of shareholders of JSC Olainfarm held on April 29, 2014 approved operating plan of the Concern. According to it, sales of the Concern in 2014 are planned to be 93 million euros, but the net profit will reach 15 million euros. According to this unaudited report for 1st half of 2014, during the first six months 52.2% of annual sales target and 59.4% of annual profit target is met.

JSC Olainfarm is one of the biggest pharmaceutical companies in Latvia with more than 40 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company’s operations is to produce reliable and effective top quality products for Latvia and the rest of the world. Products made by the Group are being exported to more than 35 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.  

Information prepared by:

Salvis Lapins
Member of the Board
JSC Olainfarm
Tel: +371 6 7013 717
Cell: +371 2 6448 873
E-mail: slapinsh@olainfarm.lv

Preliminary consolidated results of JSC Olainfarm for July 2014 show that sales have reached 6.28 million euro, which is by 15% more than sales made during July of 2013.  The biggest sales increase has been achieved in Kyrgyzstan, where sales grew by 181%. Sales to Lithuania grew by 172%; sales to Turkmenistan grew by 54%, while sales to Russia grew by 42%.  During July 2014 the company has also made significant shipments to Tajikistan and the USA.  Major sales markets of JSC Olainfarm during this month were Russia, Latvia and Ukraine.

Sales of the pharmacy chain of Latvijas aptieka Ltd. during July 2014 were 1.17 million euro and 52 pharmacies were operating during this period.  Sales of Silvanols Ltd. during this period were 0.12 million euro.

In seven months of 2014, according to preliminary consolidated data, sales of JSC Olainfarm reached 55 million euro, which represents an increase by 38% compared to the same period of 2013.  The most rapid sales increases were achieved in Poland, where sales grew by 881%, sales to Ukraine grew by 224%, sales to the Netherlands grew by 113% and sales to Lithuania grew by 84%.  Major sales markets of JSC Olainfarm in seven months of 2014 were Russia, Latvia, Ukraine and Belarus.

Sales of the pharmacy chain of Latvijas aptieka Ltd. in seven months were 8.6 million euro.  Sales of Silvanols Ltd. in the same period were 1.65 million euro; the company has its sales made to 9 European countries.

According to preliminary unconsolidated figures, sales of JSC Olainfarm during July 2014 were 5.47 million euro, which represents an increase by 18% compared to the same period one year ago.  The biggest sales increases were achieved in Kyrgyzstan, where sales grew by 181%, Lithuania, where sales grew by 172%, Turkmenistan, where sales grew by 76%, Latvia, where sales grew by 45% and Russia, where sales grew by 42%.  Significant shipments have also been made to Tajikistan and the USA. Major sales markets of JSC Olainfarm during July 2014 were Russia, Latvia and Ukraine.  During this month the sales have been made to 19 countries on three continents.

In seven months of 2014, according to preliminary results, the unconsolidated sales of JSC Olainfarm were 47.97 million euro, which represents an increase by 40% compared to the same period one year ago. The most rapid sales increases were achieved in Poland, where sales grew by 11926%, sales to Ukraine have grown by 224%, sales to The Netherlands grew by 113%, but sales to Tajikistan grew by 72%.  According to preliminary unconsolidated results, the major sales markets of JSC Olainfarm in seven months of 2014 were Russia, Ukraine, Latvia, Belarus and the UK.  During seven months the sales have been made in 32 countries on 5 continents.

Annual General Meeting of shareholders of JSC Olainfarm, held on April 29, 2014 approved an operating plan of the company that provides that unconsolidated sales of the company in 2014 will reach 80 million euro, while consolidated sales of the company in 2014 will reach 93 million euro.  According to preliminary sales figures published hereby, during six months the company has achieved 60% of annual target for unconsolidated sales and 59% 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