Preliminary sales results for June show that sales of JSC Olainfarm reached 9.36 million euros, which represents an increase by 30% compared to June of 2015. The biggest sales increase was achieved in Moldova, where sales grew by 946%. Sales to Kazakhstan grew by 190%, sales to Poland grew by 105% and sales to Russia grew by 67%. Group also made significant shipments to Kyrgyzstan and Switzerland. The major markets of the Group were Russia, Latvia, Ukraine and Belarus.
| June 2016, consolidated sales | Sales, thousand EUR | Changes to June 2015 | Share in total sales |
| Russia | 2 937 | 67% | 31% |
| Latvia | 2 156 | 28% | 23% |
| Ukraine | 1 737 | 44% | 19% |
| Belarus | 643 | 47% | 7% |
| Kazakhstan | 306 | 190% | 3% |
| Poland | 178 | 105% | 2% |
| Moldova | 166 | 946% | 2% |
| Kyrgyzstan | 149 | NA | 2% |
| Lithuania | 122 | 37% | 1% |
| Switzerland | 102 | NA | 1% |
| Other | 860 | -52% | 9% |
| Total | 9 356 | 30% | 100% |
Sales of pharmacies of Latvijas aptieka Ltd. during June 2016 were 1.48 million euros, which represents an increase by 12% compared to June 2015. Sixty-three pharmacies operated during this month. Green pharma company Silvanols made sales worth 0.43 million euros, which is an increase by 13% compared to June 2015. During June 2016, Silvanols Ltd. started selling its products directly to Turkey, and with assistance from JSC Olainfarm launched its sales in Russia. During June, products of Silvanols Ltd. were sold in seven other European countries directly, and with assistance from JSC Olainfarm also to Azerbaijan. Sales of Tonus Elast Ltd., producer of elastic medical products during June 2016 was 0.85 million euros and it sold its products to 24 countries in four continents.
In six months of 2016, according to preliminary data, consolidated sales of JSC Olainfarm was 53.51 million euros, which represents an increase by 5% compared to the same perio done year ago. The most rapid sales increase during this period was achieved in Italy, where sales grew by 194%. Sales to Uzbekistan grew by 134% and sales to Turkmenistan grew by 97%. The major sales markets of the Group in six months of 2016 were Russia, Latvia, Ukraine and Belarus.
| Six months of 2016, consolidated sales | Sales, thousand EUR | Changes to 6 months of 2015 | Share in total sales |
| Russia | 16 024 | -7% | 30% |
| Latvia | 12 681 | 12% | 24% |
| Ukraine | 9 019 | 44% | 17% |
| Belarus | 4 700 | 39% | 9% |
| UK | 1 534 | 2% | 3% |
| Uzbekistan | 1 171 | 134% | 2% |
| Kazakhstan | 1 042 | -12% | 2% |
| Turkmenistan | 943 | 97% | 2% |
| Poland | 708 | 57% | 1% |
| Italy | 627 | 194% | 1% |
| Other | 5 061 | -40% | 9% |
| Total | 53 510 | 5% | 100% |
Sales of pharmacies of Latvijas aptieka Ltd. in six months was 9.4 million euros, which represents an increase by 14% compared to the same period of 2015. Sales of Silvanols Ltd. in six months of 2016 was 2.38 million euros, which represents an increase by 19% compared to six months of last year, when company’s sales reached 2 million euros. Silvanols Ltd. made its sales in nine European countries and with assistance from JSC Olainfarm also to Albania, Kosovo, Azerbaijan, Kazakhstan, Belarus and Russia.
According to preliminary unconsolidated results, sales of JSC Olainfarm during June 2016 was 7.39 million euro, which represents an increase by 22% compared to the same period one year ago. The biggest sales increase was achieved in Moldova, where sales grew by 767%. Sales to Albania grew by 123%, while sales to Kazakhstan grew by 111%. Company also made significant shipments to Kyrgyzstan and Poland. The major sales markets of AS Olainfarm during this period were Russia, Ukraine, Latvia and Belarus. During June 2016, Olainfarm’s products were sold to 29 countries in three continents.
| June 2016, unconsolidated sales | Sales, thousand EUR | Changes to June 2015 | Share in total sales | |
| Russia | 2 740 | 56% | 37% | |
| Ukraine | 1 737 | 70% | 24% | |
| Latvia | 996 | 3% | 13% | |
| Belarus | 632 | 45% | 9% | |
| Kazakhstan | 223 | 111% | 3% | |
| Poland | 141 | NA | 2% | |
| Moldova | 138 | 767% | 2% | |
| Lithuania | 111 | 51% | 2% | |
| Kyrgyzstan | 108 | NA | 1% | |
| Albania | 99 | 123% | 1% | |
| Other | 465 | -71% | 6% | |
| Total | 7 390 | 22% | 100% | |
According to preliminary unconsolidated results, sales of JSC Olainfarm in six months of 2016 were 46.16 million euros, which represents an increase by 3% compared to the same period of 2015. The biggest sales increase was achieved in Italy, where sales grew by 194%. Sales to Uzbekistan grew by 134%, sales to Turkmenistan grew by 97% and sales to Lithuania grew by 69%. Major sales markets of JSC Olainfarm in six months of 2016 were Russia, Ukraine, Latvia and Belarus. During first half of 2016, products of JSC Olainfarm were sold to 38 countries in four continents.
| Six months of 2016, unconsolidated sales | Sales, thousand EUR | Changes to six months of 2015 | Share in total sales |
| Russia | 15 827 | -9% | 34% |
| Ukraine | 8 934 | 48% | 19% |
| Latvia | 6 746 | 9% | 15% |
| Belarus | 4 700 | 39% | 10% |
| UK | 1 507 | 0% | 3% |
| Uzbekistan | 1 171 | 134% | 3% |
| Kazakhstan | 959 | -19% | 2% |
| Turkmenistan | 943 | 97% | 2% |
| Italy | 627 | 194% | 1% |
| Lithuania | 597 | 69% | 1% |
| Other | 4 145 | -46% | 9% |
| Total | 46 156 | 3% | 100% |
AGM of JSC Olainfarm held on June 7, this year approved operating plan of the Company and the Group, providing that Company’s sales in 2016 will reach 86 million euros, while Group’s sales will reach 100 million euros. According to these preliminary sales numbers, in six months of 2016 fifty four percent of planned annual Company’s sales and fifty four percent of planned annual Group’s sales have been attained.
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
