Emitents | Olainfarm, AS (213800WCG52W62ENOP27) |
Veids | Finanšu pārskati |
Valoda | EN |
Statuss | Publicēts |
Versija | |
Datums | 2014-08-29 17:11:39 |
Versijas komentārs | |
Teksts |
Olaine, August 29, 2014
In Six Months of 2014
„Olainfarm” Sets New Sales and Profit Records
Unaudited report of AS "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
AS “Olainfarm” during this period were Russia, Ukraine, Latvia,
Belarus and the UK.
Thus AS „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 AS
„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, AS „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-fenotropil are being conducted and
totally new forms and line extensions of existing products are
being developed
Annual meeting of shareholders of A/s “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
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:
slapinsh@olainfarm.lv
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