According to preliminary consolidated results of JSC Olainfarm for March 2016, sales of company have reached 9.05 million euros, which represents a growth by 4% compared to March 2015. The biggest sales increase has been achieved in Ukraine, where sales grew by 361%. Sales to Turkmenistan grew by 208%, sales to Poland grew by 133%, but sales to Lithuania by 120%. During this period, significant shipments have also been made to Uzbekistan. Major sales markets of JSC Olainfarm in March 2016 were Ukraine, Latvia, Russia and Belarus.
| March 2016, consolidated sales | Sales, thsnd. EUR | Changes to March 2015 | Share in total sales |
| Ukraine | 2 494 | 361% | 28% |
| Latvia | 2 222 | 17% | 25% |
| Russia | 1 920 | -28% | 21% |
| Belarus | 585 | -24% | 6% |
| Turkmenistan | 316 | 208% | 3% |
| Uzbekistan | 313 | NA | 3% |
| The Netherlands | 219 | -80% | 2% |
| Kazakhstan | 180 | -60% | 2% |
| Lithuania | 173 | 120% | 2% |
| Poland | 155 | 133% | 2% |
| Other | 467 | -55% | 5% |
| Total | 9 045 | 4% | 100% |
Sales of pharmacy chain of Latvijas aptieka Ltd. during March 2016 were 1.63 million euros, which represents an increase by 13% compared to the same period of the last year. Sixty-one pharmacies were operating during March this year. Sales of Silvanols Ltd. during March 2016 were 0.44 million euros, which represents an increase by 52% compared to sales made during March 2015. In March 2016, Silvanols Ltd. sold its products in four European countries and with assistance of JSC Olainfarm also to Azerbaijan and Belarus.
In three months of 2016, according to preliminary consolidated results, sales of JSC Olainfarm reached 26.1 million euros, which represents a reduction by 6% compared to three months of 2015. The most rapid sales increase has been achieved in Poland, where sales grew by 181%. Sales to Turkmenistan grew by 162%, sales to Uzbekistan grew by 134% and sales to Belarus grew by 77%. Major sales markets of JSC Olainfarm in three months of 2016 were Latvia, Russia, Ukraine and Belarus.
| 3 months of 2016, consolidated sales | Sales, thsnd. EUR | Changes to three months of 2015 | Share in total sales |
| Latvia | 6 627 | 13% | 25% |
| Russia | 6 305 | -38% | 24% |
| Ukraine | 4 860 | 44% | 19% |
| Belarus | 3 027 | 77% | 12% |
| UK | 927 | 10% | 4% |
| Kazakhstan | 569 | 26% | 2% |
| Turkmenistan | 482 | 162% | 2% |
| Uzbekistan | 478 | 134% | 2% |
| The Netherlands | 473 | -79% | 2% |
| Poland | 386 | 181% | 1% |
| Other | 1 968 | -23% | 8% |
| Total | 26 101 | -6% | 100% |
During the three months period of 2016 sales of pharmacy chain of Latvijas aptieka Ltd. reached 5.02 million euro, which represents an increase by 19% compared to the same period of 2015. Sales of Silvanols Ltd. in three months of 2016 were 1.22 million euro, which represents an increase by 11% compared to the first quarter of 2015, when sales of Silvanols were 1.1 million euros. Products of Silvanols Ltd. were sold to eight European countries and with assistance of JSC Olainfarm also to Azerbaijan and Belarus.
According to preliminary unconsolidated results, sales of JSC Olainfarm in March 2016 were 7.91 million euros, which represents an increase by 3% compared to the same period of 2015. The biggest sales increase was achieved to Ukraine, where sales grew by 361%. Sales to Italy grew by 287%, sales to Turkmenistan grew by 208%, and sales to Lithuania grew by 159%. Significant shipments during this period were also made to Uzbekistan. Major sales markets of JSC Olainfarm were Ukraine, Russia, Latvia and Belarus. During March 2016, products of JSC Olainfarm were sold to 28 countries in three continents.
| March 2016, unconsolidated sales | Sales, thsnd. EUR | Changes to March, 2015 | Share in total sales |
| Ukraine | 2 494 | 361% | 32% |
| Russia | 1 920 | -28% | 24% |
| Latvia | 1 235 | 19% | 16% |
| Belarus | 585 | -24% | 7% |
| Turkmenistan | 316 | 208% | 4% |
| Uzbekistan | 313 | NA | 4% |
| The Netherlands | 219 | -80% | 3% |
| Kazakhstan | 180 | -60% | 2% |
| Lithuania | 157 | 159% | 2% |
| Italy | 127 | 287% | 2% |
| Other | 367 | -60% | 5% |
| Total | 7 911 | 3% | 100% |
According to unconsolidated preliminary results for three months of 2016, sales of JSC Olainfarm have reached 22.6 million euros, which represents a reduction by 8% compared to the same period of 2015. The most rapid sales increase was achieved in Turkmenistan, where sales grew by 162%. Sales to Uzbekistan grew by 134%, while sales to Belarus and Lithuania grew by 77% each. The major sales markets of JSC Olainfarm in three months of 2016 were Russia, Ukraine, Latvia and Belarus. In three months of 2016, products of JSC Olainfarm were sold to 32 countries in three continents.
| 3 months of 2016, unconsolidated sales | Sales, thsnd. EUR | Changes to 3 months of 2015 | Share in total sales |
| Russia | 6 305 | -38% | 28% |
| Ukraine | 4 776 | 41% | 21% |
| Latvia | 3 555 | 12% | 16% |
| Belarus | 3 027 | 77% | 13% |
| UK | 927 | 10% | 4% |
| Kazakhstan | 569 | -15% | 3% |
| Turkmenistan | 482 | 162% | 2% |
| Uzbekistan | 478 | 134% | 2% |
| The Netherlands | 473 | -79% | 2% |
| Lithuania | 312 | 77% | 1% |
| Other | 1 698 | -7% | 8% |
| Total | 22 600 | -8% | 100% |
According to preliminary estimates by the management of JSC Olainfarm, unconsolidated sales in 2016 are expected at 90 million euros, while consolidated sales at 103 million euros. According to these preliminary sales results, in three months of 2016, the company has reached 25% of its annual unconsolidated sales estimate and 25% of its annual consolidated sales estimate.
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
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
