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.
| June 2014, consolidated results | Share in total sales | Changes to June 2013 |
| Latvia | 29% | 13% |
| Russia | 26% | -38% |
| Belarus | 13% | 89% |
| Poland | 9% | 2920% |
| Kazakhstan | 6% | 0% |
| Ukraine | 4% | -70% |
| The Netherlands | 4% | NA |
| Tajikistan | 3% | 529% |
| Lithuania | 2% | -5% |
| Moldova | 1% | 76% |
| Other | 4% | -87% |
| Total | 100% | -22% |
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.
| 6 months of 2014, consolidated results | Share in total sales | Changes to 6 months of 2013 |
| Russia | 34% | 18% |
| Latvia | 21% | 24% |
| Ukraine | 16% | 303% |
| Belarus | 9% | 46% |
| UK | 3% | 2% |
| The Netherlands | 3% | 180% |
| Kazakhstan | 2% | -27% |
| Poland | 2% | 13434% |
| Uzbekistan | 2% | 102% |
| Lithuania | 1% | 90% |
| Other | 7% | 4% |
| Total | 100% | 40% |
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.
| June 2014, unconsolidated results | Share in total sales | Changes to June 2013 |
| Russia | 31% | -38% |
| Latvia | 16% | 37% |
| Belarus | 16% | 89% |
| Poland | 11% | NA |
| Kazakhstan | 7% | 0% |
| Ukraine | 5% | -70% |
| The Netherlands | 4% | NA |
| Tajikistan | 3% | 529% |
| Lithuania | 2% | -4% |
| Moldova | 2% | 76% |
| Other | 4% | -88% |
| Total | 100% | -22% |
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.
| 6 months of 2014, unconsolidated results | Share in total sales | Changes to 6 months of 2013 |
| Russia | 39% | 18% |
| Ukraine | 18% | 303% |
| Latvia | 11% | 33% |
| Belarus | 10% | 46% |
| UK | 4% | 2% |
| The Netherlands | 3% | 180% |
| Kazakhstan | 2% | -27% |
| Uzbekistan | 2% | 102% |
| Poland | 2% | 11926% |
| Tajikistan | 1% | 57% |
| Other | 7% | 6% |
| Total | 100% | 44% |
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
