Sales of Olainfarm in Six Months Increase by 11%

Preliminary consolidated results of AS Olainfarm for June 2017 show that company’s sales have reached 10.11 million euros, which represents an increase by 8% compared to the same period of 2016. The biggest sales increase has been achieved in Turkmenistan, where sales grew by 1206%. Sales to Italy increased by 296%, sales to Kazakhstan increased by 103%, sales to Poland increased by 78%, but sales to Belarus increased by 60%.  During June 2017, significant shipments also were made to Uzbekistan and The Netherlands.  The biggest sales reduction took place in Ukraine, where sales shrunk by 38%.  Major sales markets of Olainfarm group in June 2017 were Russia, Latvia, Ukraine and Belarus.

Sales of pharmacy chain of SIA Latvijas Aptieka in June 2017 reached 1.79 million euros, which represents an increase by 21% compared to sales in June 2016. During the month of June 67 pharmacies were operating.   Sales of SIA Silvanols in June shrunk by a third to 0.29 million euros. During June 2016, SIA Silvanols sold its products to five European countries and with the help of AS Olainfarm also to Kazakhstan, Belarus and Armenia.  Sales of SIA Tonus Elast in June 2017 reached 0.8 million euros, which represents a reduction by 6% compared to the same period of 2016, products of this company were sold to 21 countries in four continents.

In six months of 2017, according to preliminary numbers, consolidated sales of AS Olainfarm reached 59.16 million euros, which represents an increase by 11% compared to six months of 2016.  The biggest sales increase was achieved in The Netherlands, where sales grew by 600%.  Sales to Italy increased by 56%, but sales to Kazakhstan increased by 55%.  The biggest sales reduction during this period took place in Ukraine, where sales volumes contracted by 40%.  Major sales markets of Olainfarm group during these six months were Russia, Latvia, Belarus and Ukraine.

Sales of pharmacy chain of SIA Latvijas Aptieka in six months of 2017 reached 10.3 million euros, which represents an increase by 10% compared to six months of 2016.  Sales of SIA Silvanols in six months of 2017 reached 2.74 million euros, which represents an increase by 15% compared to six months of 2016. SIA Silvanols made its sales to nine European countries during this period, and with the help of AS Olainfarm, also to Lithuania, Russia, Azerbaijan, Belarus and Armenia.  Sales of SIA Tonus Elast in six months reached 3.9 million euros, and products of this company were sold to 35 countries in four continents.

According to preliminary unconsolidated numbers, sales of AS Olainfarm in June 2017 reached 8.22 million euros, which represents an increase by 11%, compared to the same period of 2016.  The biggest sales increase was achieved in Turkmenistan, where sales increased by 1206%.  Sales to Italy grew by 296%, sales to Kazakhstan increased by 125%, sales to Poland grew by 80%, but sales to Belarus increased by 60%.  During June 2016, significant shipments were also made to Uzbekistan and The Netherlands.  The biggest reduction of sales during this period took place in Ukraine, where sales shrunk by 38%. The biggest sales markets during this period were Russia, Latvia, Ukraine and Belarus.  In total, during June 2017, products of AS Olainfarm were sold to 28 countries in three continents.

According to preliminary unconsolidated results, sales of AS Olainfarm in six months of 2017 reached 48 million euros, which represents an increase by 4% compared to the same period of 2016.  The biggest sales increase during this six months period was achieved in The Netherlands, where sales increased by 600%.  Sales to Germany grew by 202%, but sales to Italy by 51%.  Biggest sales reduction in six months period took place in Ukraine, where sales shrunk by 40%.  Biggest sales markets of AS Olainfarm during this period were Russia, Latvia, Belarus Ukraine and The Netherlands.  In total, during the first six months of 2017, AS Olainfarm sold its products to 41 countries in five continents.  

General meeting of shareholders of AS Olainfarm held on June 1, 2017 approved operating plan of the company, providing that unconsolidated sales of the company in 2017 will reach 96 million euros, while consolidated sales of the company will reach 127 million euros.  According to these preliminary sales numbers, in six months of 2017 the company has met 50% of annual target for unconsolidated sales and 46% 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

         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