Preliminary consolidated results of JSC Olainfarm for June 2014 show that company’s sales have reached 5.25 million euro, which represents a reduction by 22% compared to the same period one year ago.  The major sales increases have been achieved in Poland, where sales grew by 2920%, sales to Tajikistan grew by 529%, and sales to Belarus grew by 89%, while sales to Moldova grew by 76%.  During June of 2014 the company has also made significant shipments to The Netherlands.  Major sales markets of Olainfarm in June 2014 were Latvia, Russia, Belarus, Poland and Kazakhstan.

Sales of pharmacy chain of Latvijas aptieka Ltd., fully owned by  JSC Olainfarm in June of 2014 were 1.14 million euro, and 55 pharmacies were operating during this period. Sales of Silvanols Ltd. during this period were 0.23 million euro.

During six months of 2014, according to preliminary figures the consolidated sales of  JSC Olainfarm has reached 48.74 million euros, which represents an increase by 40% compared to similar period of 2013.  The most rapid sales increases during these six months have been achieved in Poland, where sales grew by 13434%, Ukraine, where sales grew by 303%, The Netherlands, where sales grew by 180%, Uzbekistan, where sales grew by 102% and Lithuania, where sales grew by 90%.    Major sales markets of JSC Olainfarm during the first six months of 2014 were Russia, Latvia, Ukraine and Belarus.

Sales of the pharmacy chain of Latvijas Aptieka Ltd. fully owned by JSC Olainfarm in 6 months were 7.4 million euros.  Sales of Silvanols Ltd. in six months of 2014 were 1.523 million euros.

According to unconsolidated results of JSC Olainfarm, sales of the company in June 2014 were 4.34 million euros, which represents a reduction by 22% compared to the same period one year ago.   The major sales increases have been achieved in Tajikistan, where sales grew by 529%, Belarus, where sales grew by 89%, Moldova, where sales grew by 76% and Latvia, where sales grew by 37%.  Major sales markets of JSC Olainfarm in June 2014 were Russia, Latvia, Belarus, Poland, Kazakhstan and Ukraine.  During June of 2014 products of JSC Olainfarm were sold to 19 countries in three continents.

According to preliminary figures, during six months of 2014 unconsolidated sales of JSC Olainfarm was 42.5 million euro, which represents an increase by 44% compared to the same period of 2013. The most rapid sales increases during these six months have been achieved in Poland, where sales grew by 11926%, Ukraine, where sales grew by 303%, The Netherlands, where sales grew by 180%, and Uzbekistan, where sales grew by 102%.  According to preliminary unconsolidated results, the main sales markets of JSC Olainfarm during the first six months of 2014 were Russia, Ukraine, Latvia and Belarus.  During six months of 2014 the sales have been made to 32 countries on five 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 53% of annual target for unconsolidated sales and 52% 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

According to preliminary consolidated sales figures of  JSC Olainfarm for May, sales of the company have reached 10.62 million euro, which is an increase by 121% compared to the same period one year ago.  The biggest sales increases have been achieved in Ukraine, where sales grew by 86931%, Uzbekistan by 500%, and Lithuania by 119%.  During May 2014, the company has also made significant shipments to the UK and Poland.  Biggest sales markets of JSC Olainfarm in May 2014 were Ukraine, Russia, Latvia, UK, Belarus and Uzbekistan.

Sales of pharmacy chain of Latvijas aptieka Ltd., fully owned by JSC Olainfarm in May 2014 were 1.19 million euro.  54 pharmacies were operating during this period. Sales of Silvanolsm Ltd.  in this period were 0.14 million euro.

During the first five months of 2014, according to preliminary consolidated results, sales of JSC Olainfarm were 43.38 million euro, which represents an increase by 55% compared to the same period of 2013. The most rapid sales increases have been achieved in Ukraine, where sales have grown by 548%, sales to Lithuania have grown by 140%, Sales to The Netherlands have grown by 139%, sales to Uzbekistan have grown by 113% but sales to the UK have grown by 104%.  Significant shipments have also been made to Poland. Major sales markets of JSC Olainfarm during five months of 2014 were Russia, Latvia, Ukraine and Belarus.

During first five months sales of pharmacy chain of Latvijas aptieka Ltd., fully owned by JSC Olainfarm reached 6.29 million euro.  Sales of Silvanols Ltd. during the same period were 1.3 million euro.

According to preliminary unconsolidated results of JSC Olainfarm, sales in May reached 9.76 million euro, which represents an increase by 141% compared to the same period one year ago.  The biggest sales increases were achieved in Ukraine, where sales grew by 86931% and Uzbekistan, where sales grew by 500%. Major sales markets of JSC Olainfarm in May 2014 were Ukraine, Russia, UK, Latvia, Belarus and Uzbekistan.  Significant shipments have also been made to Poland. During May 2014, JSC Olainfarm has made sales to 23 countries in 4 continents.

According to preliminary results, during five months of 2014 unconsolidated sales of JSC Olainfarm reached 38.16 million euro, which represents an increase by 59% compared to the same period one year ago.  The most rapid sales increases during the period have been achieved in Ukraine, where sales grew by 548%, sales to the Netherlands grew by 139%, and sales to Uzbekistan grew by 113%, while sales to the UK grew by 104%.  Biggest sales markets of  JSC Olainfarm in five months of 2014 were Russia, Ukraine, Latvia and Belarus.  In five months of 2014 sales have been made to 32 countries in five continents.

Annual General Meeting of shareholders of  JSC Olainfarm held on May 29, 2014, approved operating plan of the company, providing that unconsolidated sales of the company will reach 80 million euro, while consolidated sales will reach 93 million euro.  According to these preliminary sales figures, in five months of 2014 48% of annual unconsolidated sales target and 47% of annual consolidated sales target have been achieved.

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

Information prepared by:

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

JSC Olainfarm has experienced the most profitable first quarter in its history, as its profits reached 3.7 million euro and sales were up to 23.3 million euro.  Profit has increased by 32%, while sales by 30%, compared to the same period one year ago. Major sales markets of JSC Olainfarm during Q1 2014 were Russia, Ukraine, Latvia, Belarus and the Netherlands.

„Despite very tense Russia – Ukraine relationships and devaluation of Tenge in Kazakhstan, we have experienced the most profitable first quarter in our history.  Sales of major products are more even, sales of registered products are expanding and we plan to start exporting to Mongolia this year.  Sales of nti-tuberculosis product to WHO are also increasing,” says Valerijs Maligins, Chairman of the Board of JSC Olainfarm.

During the 1st quarter of 2014 JSC Olainfarm sales continued to increase in all of the company’s main markets, except for Kazakhstan, where they decreased by 50% year-on-year. The decrease was due to devaluation of Kazakhstan national currency Tenge at the beginning of the year. The biggest increases in sales during Q1 2014 were achieved in Spain (+181%), Lithuania (+171%), Ukraine (+157%) and Uzbekistan (+67%).In total during three months of 2014 products of JSC Olainfarm were sold to 31 countries in five continents.

During this period 12 registration cases have been approved in several countries. Several products are still in the process of obtaining MAs, among other countries, in Poland, Mongolia and Kosovo. Preclinical trials of R-Phenylpiracetam are being conducted and totally new forms of existing products are being developed.

JSC Olainfarm budget and operating plan for 2014 sets targets for consolidated sales to reach 93 million euro and net profit to reach 15 million euro. According to the unaudited report, during the 1st quarter of 2014 25.1% of the annual sales target and 24.5% of the annual profit target have been met.

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

Information prepared by:

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

Preliminary consolidated sales figures of JSC Olainfarm for April 2014 show that sales have reached 9.46 million euro, which represents an increase by 76% compared to the same period one year ago. The major sales increases were achieved in Ukraine, where sales grew by 13708%, sales to Georgia grew by 716%, sales to Tajikistan grew by 647%, sales to Lithuania grew by 361% and sales to Russia grew by 130%. Major sales markets of JSC Olainfarm in Aprils 2014 were Russia, Latvia, Ukraine and Belarus.  Sales during this period were made to 19 countries on 2 continents.

Sales of pharmacy chain Ltd. Latvijas aptieka owned by JSC Olainfarm in April of 2014 were 1.26 million euro, and 53 pharmacies were operating during this period.  Sales of Ltd. Silvanols in April 2014 were 0.27 million euro.

During the first four months of 2014 according to preliminary results sales of JSC Olainfarm were 32.85 million euro, which represents an increase by 42% compared to the same period of 2013. The most rapid sales increases were achieved in Ukraine, where sales grew by 281%, sales to The Netherlands grew by 201%, while sales to Lithuania grew by 165%.  Major sales markets of JSC Olainfarm during four months of 2014 were Russia, Latvia, Ukraine and Belarus. In total during four months of 2014 sales have been made to 34 countries on 5 continents.

Sales of pharmacy chain Latvijas aptieka Ltd., owned by JSC Olainfarm in four months were 5.1 million euro.  Sales of Silvanols Ltd. during this period were 1.13 million euro.

According to preliminary unconsolidated results, the sales of JSC Olainfarm in April 2014 were 8.44 million euro, which represents an increase by 85% compared to the same period one year ago.  The biggest sales increases were achieved in Ukraine, where sales grew by 13708%, sales to Georgia grew by 716%, sales to Tajikistan grew by 647%, sales to Lithuania grew by 361%, but sales to Russia grew by 130%.  Major sales markets of JSC Olainfarm in April 2014 were Russia, Ukraine, Latvia and Belarus.  During Aprils 2014, products of JSC Olainfarm were sold in 18 countries on two continents.

During four months of 2014, according to preliminary results, unconsolidated sales of JSC Olainfarm were 28.41 million euro, which represents an increase by 43% compared to the same period of 2013.  The most rapid sales increases were achieved in Ukraine and The Netherlands, where sales grew by 281% and 201% respectively.  Sales to Tajikistan grew by 119%.  According to preliminary unconsolidated results the major sales markets of JSC Olainfarm in four months of 2104 were Russia, Ukraine, Latvia and Belarus.  In total during four months of 2014 products of JSC Olainfarm were sold in 32 countries on 5 continents.

On April 29, 2014, on Annual General Meeting of JSC Olainfarm, operating plan of the company was approved, providing that unconsolidated sales of company in 2014 will reach 80 million euros, while consolidated sales will be as high as 93 million euro.  According to these preliminary sales figures, during four months of this year 36% of annual target for unconsolidated sales and 35% of annual target for consolidated sales have been achieved.

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

Information prepared by:

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

Unconsolidated profit and loss account of JSC Olainfarm for 2013 shows that the company has reached sales of 66.9 million euro. This represents an increase by 1.4% compared to 2012, when sales of JSC Olainfarm were 65.9 million euros.

After tax profit of the company in 2013 was 12.9 million euro, which is a reduction by 10% compared to 2012, when the net profit was 14.2 million euro.

The biggest sales increases in 2013 were achieved in The Netherlands, where products for WHO’s anti-tuberculosis products are being sent. Sales there have increased by 351%.  Significant sales increase has also been achieved in Spain (sales grew by 202%), Latvia (sales grew by 71%), Belarus (sales grew by 48%) and Uzbekistan (sales grew by 42%).  Major sales markets of JSC Olainfarm in 2013 were Russia, Latvia, Ukraine, Belarus, Kazakhstan and the UK.  In total during 2013 Olainfarm made sales to 37 countries in five continents.

The bestselling products in 2013 were neurology medication Neiromidin, Noofen and Adaptol, antibacterial medication Furamags and cardiology medication Etacizīns.

During 2013 37 products have been registered in 7 different countries, including the marketing partnership products.  Registration processes have been started also in Turkey, Mongolia, Mexico and Kosovo. The work has been started at developing several new final dosage forms, clinical trials of injectable form of Kapikor (Olvazol) are being conducted.

With support of European Regional Development Fund in 2013 laboratory equipment has been acquired which will allow moving the production of nitrofuranes to a new production unit and further improving production technologies of this group of products.

In December 2013 Management Board of JSC Olainfarm adjusted previously set profit and sales guidance. According to them the sales of the company in 2013 were planned to be 64.6 million euro while the net profit guidance was 10.5 million euro. According to audited report the sales guidance has been outperformed by 3.5%, while profit guidance was outperformed by 20.4%.

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

Consolidated profit and loss account of JSC Olainfarm for 2013 shows that the company has reached sales of 77.9 million euro. This represents an increase by 4% compared to 2012, when sales of JSC Olainfarm were 75.2 million euro.

After tax profit of the company in 2013 was 12.6 million euro, which is a reduction by 9% compared to 2012, when the net profit was 13.8 million euro.During 2013 sales to all key markets of JSC Olainfarm continued growing, except Ukraine, where due to extra shipments of 2012 they shrank by 45%. The biggest sales increases were achieved in The Netherlands, where products for WHO’s anti-tuberculosis products are being sent. Sales there have increased by 351%.  Significant sales increase has also been achieved in Spain (sales grew by 202%), Belarus (sales grew by 48%) and Uzbekistan (sales grew by 42%).  Major sales markets of JSC Olainfarm in 2013 were Russia, Latvia, Ukraine, Belarus, Kazakhstan and the UK.

The bestselling products in 2013 were neurology medication Neiromidin, Noofen and Adaptol, antibacterial medication Furamags and cardiology medication Etacizīns.

During 2013 37 products have been registered in 7 different countries, including the marketing partnership products.  Registration processes have been started also in Turkey, Mongolia, Mexico and Kosovo. The work has been started at developing several new final dosage forms, clinical trials of injectable form of Kapikor (Olvazol) are being conducted.

With support of European Regional Development Fund in 2013 laboratory equipment has been acquired which will allow moving the production of nitrofuranes to a new production unit and further improving production technologies of this group of products.

In December 2013 Management Board of JSC Olainfarm adjusted previously set profit and sales guidance. According to them the sales of the Concern in 2013 were planned to be 75.1 million euro while the net profit guidance was 12.5 million euro.  According to audited report the sales guidance has been outperformed by 3.8%, while profit guidance was outperformed by 0.8%.

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 March 2014 show that sales have reached the level of 6.41 million euro, which represent an increase by 35% compared to the same period one year ago.  The biggest sales increases were achieved in Ukraine, where sales grew by 1893%, while sales to Lithuania grew by 248%, sales to Tajikistan by 69%, sales to Belarus by 52% and sales to Latvia by 51%.  Major sales markets of JSC Olainfarm in March 2014 were Russia, Latvia, Ukraine and Belarus.  Significant shipments during this period have also been made to Uzbekistan, The Netherlands and Albania.

During the first three months of 2013, according to preliminary figures consolidated sales of JSC Olainfarm were 23.44 million euro, which represents an increase by 37% compared to the same period of 2013. The most rapid sales increase during this period was achieved in Spain, where sales grew by 181%.  Sales to Lithuania grew by 171% but sales to Ukraine grew by 157%.  Major sales markets of JSC Olainfarm during first three months of 2014 were Russia, Latvia, Ukraine, Belarus, The Netherlands and the UK.

Sales of pharmacy chain Ltd. Latvijas aptieka, owned by JSC Olainfarm in March 2014 were 1.32 million euro.  There were 54 pharmacies operating in March.  Sales of Ltd. Silvanols in March were 0.27 million euro.

During the first three months of 2014 sales of chain of pharmacies Ltd. Latvijas aptieka owned by JSC Olainfarm were 3.84 million euros, while sales of Ltd. Silvanols in this period were 0.86 million euros.

According to unconsolidated preliminary sales results of JSC Olainfarm for March 2014, the sales in this period were 5.31 million euro, which represents an increase by 28% compared to the same period of 2013.  The biggest sales increase was achieved in Ukraine, where sales grew by 1893%.  Sales to Lithuania grew by 186%, sales to Tajikistan grew by 69% but sales to Belarus grew by 52%.  In March significant shipments were also made to Uzbekistan, The Netherlands and Albania.  Major sales markets of JSC Olainfarm in March 2014 were Russia, Ukraine, Latvia and Belarus.  In total during March JSC Olainfarm made sales to 19 countries in three continents.

During the first three months of 2014, according to preliminary results, unconsolidated sales of JSC Olainfarm were 20.01 million euro, which represents an increase by 30% compared to the same period of 2013. The most rapid sales increases during these three months have been achieved in Spain and Ukraine, where sales grew by 181% and 157% respectively.  Per order of the Who, significant sales have also been made to The Netherlands.  According to preliminary unaudited results the major sales markets of JSC Olainfarm during three months of 2014 were Russia, Ukraine, Belarus, Latvia, The Netherlands and the UK.  In total during three months of 2014 products of JSC Olainfarm were sold to 31 countries in five continents.

According to preliminary estimates, unconsolidated sales of JSC Olainfarm could reach 80 million euro, while consolidated sales could reach 90 million euro.  According to these preliminary sales figures, during three months of 2014, 25% of annual target for unconsolidated and 26% 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 JSC Olainfarm 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 February show that sales of the company have reached 7.31 million euro, which represents an increase by 47% compared to the same period one year ago. The biggest sales increases were achieved in Ukraine, where sales grew by 733347% and Turkmenistan, where sales grew by 554%.  It should be noted however, that such impressive growth in Ukraine appears because in February were very insignificant.  Sales to Latvia have grown by 29%, while sales to Russia increased by 21%.  Major sales markets of JSC Olainfarm in February 2014 were Russia, Latvia, Ukraine, Belarus, UK and The Netherlands.  During February 2014, JSC Olainfarm has also made significant shipments to Poland and Bulgaria.

In two months of 2014, according to preliminary figures, consolidated sales of JSC Olainfarm were 16.97 million euro, which represents an increase by 33% compared to the respective period of 2013.  The most rapid sales increases have been achieved in Spain, where sales grew by 843%, sales to Ukraine grew by 93% and sales to Belarus grew by 45%.  Major sales markets of JSC Olainfarm in two months of 2014 were Russia, Latvia, Ukraine, Belarus, UK and The Netherlands.

Sales of Latvijas aptieka Ltd., a pharmacy chain owned by JSC Olainfarm in February 2014 were 1.24 million euro.  There were 55 pharmacies operating in February.  Sales of Silvanols Ltd. in February 2014 were 0.31 million euro.

Sales of  Latvijas aptieka Ltd., a pharmacy chain owned by JSC Olainfarm in two months of 2014 were 2.5 million euro.  Sales of Silvanols Ltd. during the same period were 0.6 million euro.

According to unconsolidated preliminary results of Olainfarm Ltd., sales of the company in February were 6.28 million euro, which represents an increase by 50% compared to the same period one year ago.  The biggest sales increase was achieved in Ukraine, where sales grew by 733347%.  Sales to Turkmenistan grew by 554%, sales to Latvia grew by 39%, and sales to Russia grew by 21%.  Major sales markets of JSC Olainfarm in February 2014 were Russia, Ukraine, Belarus, Latvia, UK and the Netherlands.  In total during February sales to 25 countries have been made.

According to preliminary figures, during two months of 2014 volume of unconsolidated sales of JSC Olainfarm was 14.71 million euro, which represents an increase by 31% compared to the respective period one year ago.  The most rapid sales increases were achieved to Spain and Ukraine, where sales grew by 843% and 93% respectively.  According to preliminary unconsolidated results, major sales markets of JSC Olainfarm in two months of 2014 were Russia, Ukraine, Belarus, Latvia, UK and The Netherlands. During these two months JSC Olainfarm has been selling its products to 29 countries.

According to preliminary estimates of JSC Olainfarm, unconsolidated sales of the company in 2014 could reach 80 million euro, while consolidated sales could reach 90 million euro.  According to these preliminary sales figures in two months of 2014 18% of annual unconsolidated sales target and 19% of annual consolidated sales target are 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  JSC Olainfarm 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

Currently Olainfarm does not see any significant threats for its sales to Ukraine and Russia.  However, if the European Union and its partners fail to solve the situation in Ukraine, the outcome could have a negative impact not only on company’s sales in Ukraine bus also in Russia.

„Not only Ukrainian market is important to Olainfarm, Russian one even more crucial, therefore I do hope that the all parties will get involved in solving the current situation and the conflict will be settled peacefully,” says Valerijs Maligins, chairman of JSC Olainfarm.

Preliminary consolidated results of JSC Olainfarm for January 2014 show that sales have reached 9.67 million euro, which is an increase by 24% compared to the same period one year ago.  The biggest sales increases were achieved in Georgia, here sales grew by  3496%, Spain, where sales grew by 843%, Italy, where sales grew by 321% and Lithuania, where sales grew by 126 as well as Latvia, where sales grew by 101%.  In January 2014, sales to Ukraine grew by 4% compared to January 2013. The major sales markets of JSC Olainfarm in January 2014 were Russia, Latvia, Ukraine, Belarus, UK and The Netherlands.

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

Consolidated profit and loss account of JSC Olainfarm for 2013 shows that the company has reached a new sales record of 54.8 million lats (78 million euro).  This represents an increase by 4% compared to 2012, when sales of JSC Olainfarm were 52.9 million lats (75.3 million euro).

After tax profit of the company in 2013 was 8.9 million lats (12.6 million euro), which is a reduction by 8% compared to 2012, when the net profit was 0.8 million lats (13.9 million euro).

“This year our investments will be particularly strongly focused on infrastructure and capacities of Olainfarm.  Creation of new production unit for nitrofuranes is the biggest of such investments.  Since last year we acquired more than 70% shares in Silvanols, a leading Latvian producer of food supplements, we intend to use our experience in promotion and marketing in CIS countries to help Silvanols strengthen its position there.  We will continue working at improving our portfolio, entering new markets and co-marketing.  Development of chain of Latvijas aptieka is also among our priorities, although number of pharmacies this year will increase at a slower pace than during previous years,” says Valerijs Maligins, Chairman of the Board of JSC Olainfarm.

During 2013 sales to all key markets of JSC Olainfarm continued growing, except Ukraine, where due to the above mentioned extra shipments of 2012 they shrank by 45%.  The biggest sales increases were achieved in The Netherlands, where products for WHO’s anti-tuberculosis products are being sent.  Sales there have increased by 351%.  Significant sales increase has also been achieved in Spain (sales grew by 202%), Belarus (sales grew by 48%) and Uzbekistan (sales grew by 42%).  Major sales markets of JSC Olainfarm in 2013 were Russia, Latvia, Ukraine, Belarus, Kazakhstan and the UK.

During 2013 37 products have been registered in 7 different countries, including the marketing partnership products.  Registration processes have been started also in Turkey, Mongolia, Mexico and Kosovo.

In December 2013 Management Board of JSC Olainfarm adjusted previously set profit and sales guidance. According to them the sales of the Concern in 2013 were planned to be 52.8 million lats (75.1 million euro) while the net profit guidance was 8.8 million lats (12.5 million euro).  According to this unaudited report the sales guidance has been outperformed by 3.8%, while profit guidance was outperformed by 0.8%.

JSC Olainfarm is one of the biggest pharmaceutical companies in Latvia with 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 30 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