Sales of Olainfarm in August Increase by 19%

Preliminary consolidated results of Olainfarm for August 2017 show that sales of the group reached 8.04 million euros, which represents an increase by 19% compared to August of 2016.  The biggest sales increase was achieved in Tajikistan, where sales grew by 349%.  Sales to Germany grew by 110%; sales to Russia grew by 93%, sales to Belarus increased by 63%.  Biggest sales reduction happened in Ukraine where sales shrunk by 49%.  During August 2017, the Group also made significant shipments to Turkmenistan and The Netherlands.  Major sales markets of the group during this period were Russia, Latvia and Belarus.

Sales of pharmacies of SIA Latvijas Aptieka during August 2017 were 1.83 million euros, which represents an increase by 24% compared to August 2016.  Sixty-eight pharmacies were operating during this period.  Sales of SIA Silvanols during August were 0.38 million euros, which represents an increase by 6% compared to 2016.  In August 2017, SIA Silvanols sold its products in seven European countries and, with the assistance from AS Olainfarm to Kazakhstan, Belarus and Russia.  Sales of SIA Tonus Elast during August 2017 reached .73 million euros, which represents a reduction by 4% compared to August 2016.  Products of Tonus Elast were sold to 19 countries in three continents.

According to preliminary numbers, consolidated sales of Olainfarm group in eight months of 2017 reached 76.39 million euros, which represents an increase by 9% compared to eight months of 2016.  The biggest sales increase was achieved in The Netherlands, where sales grew by 236%.  Sales to Germany increased by 206%, sakes to Kazakhstan increased by 44% but sales to Italy increased by 43%. Biggest reduction of sales took place in Ukraine, where sales shrunk by 44%.  Major sales markets of Olainfarm group in eight months were Russia, Latvia, Belarus and Ukraine.

Sales of pharmacies of SIA Latvijas aptieka in eight months of 2017 were 13.8 million euros, which represents an increase by 12% compared to eight months of 2016.  Sales of SIA Silvanols during this period were 3.3 million euros, which represents an increase by 6% compared to eight months of 2016 when this company made sales of 3.1 million euros.  Products of SIA Silvanols were sold to twelve European countries and with the help from AS Olainfarm to Lithuania, Russia, Azerbaijan, Belarus, Kazakhstan and Armenia.  Sales of SIA Tonus Elast in eight months were 5.4 million euros and its products were sold to 37 countries in four continents.

According to unconsolidated preliminary results, sales of AS Olainfarm in August 2017 were 6.07 million euros, which represents an increase by 24% compared to August of 2016.  The biggest sales increase was achieved in Tajikistan, where sales grew by 349%.  Sales to Germany increased by 112%, sale to Russia increased by 66%, sales to Kazakhstan increased by 65% but sales to Belarus increased by 61%.  The biggest sales reduction took place in Ukraine, where sales shrunk by 58%.  During August 2017, AS Olainfarm also made significant shipments to Turkmenistan and The Netherlands. Major sales markets of AS Olainfarm during this period were Russia, Latvia, Belarus and Ukraine.  In august 2017, products of AS Olainfarm were sold to 25 countries in two continents.

According to preliminary unconsolidated results, sales of AS Olainfarm in eight months of 2017 were 60.87 million euros, which represents and increase by 2% compared to the same period one year ago.  The biggest sales increase during this period was achieved in The Netherlands, where sales increased by 249%, while sales to Germany increased by 207%.  Biggest sales reduction was experienced in Ukraine, where sales shrunk by 46%.  Major sales markets of AS Olainfarm during these eight months were Russia, Latvia, Belarus and Ukraine.  In total during this eight months period AS Olainfarm sold its products to 46 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 eight months of 2017 the company has met 63% of annual target for unconsolidated sales and 60% 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