Olaine, November 15, 2017

Sales of Olainfarm in October Shrink by 7%

Preliminary consolidated results of AS Olainfarm for October 2017 show that company’s sales have reached 9.51 million euros, which represents reduction by 7% compared to the same period of 2016.  The biggest sales increase during this period was achieved in Poland, where it grew by 623%.  Sales to Moldova increased by 180%.  Significant shipments during this period were also made to Tajikistan.  Major sales markets of Olainfarm group during October 2017 were Russia, Latvia and Ukraine.

Sales of pharmacies of SIA Latvijas Aptieka in October 2017 were 2.02 million euros, which represents an increase by 25% compared to the same period of last year.  Sixty-nine pharmacies were operating during October.  Sales of SIA Silvanols in October 2017 were 0.4 million euros, which represents a reduction by 25% compared to the same period of 2016.  SIA Silvanols was selling its products in six European countries. Sales of SIA Tonus Elast in October were 0.62 million euros, which represents a reduction by 29% compared to October 2016.  SIA Tonus Elast sold its products in 15 countries in three continents.

In ten months of 2017, according to the preliminary results, the consolidated sales of AS Olainfarm reached 95.11 million euros, which represents an increase by 7% compared to ten months of 2016.  The biggest sales increase during this period was achieved in Germany, where sales increased by 118%.  Sales to The Netherlands increased by 92%.  Biggest sales reduction took place in Ukraine, where sales shrunk by 35%.  The major sales markets of AS Olainfarm group during this period were Russia, Latvia, Ukraine and Belarus.

Sales of pharmacies of SIA Latvijas Aptieka in 10 months of 2017 reached 17.7 million euros, which represents an increase by 14% compared to ten months of 2016.   Sales of SIA Silvanols during this ten months period have reached 4.3 million euros, which represents an increase by 2%.  Products of SIA Silvanols are sold to twelve European countries.  Sales of SIA Tonus Elast in ten months was 6.8 million euros, and the company sold its products to 37 countries in four continents.

According to unconsolidated preliminary results, sales of AS Olainfarm in October 2017 were 7.63 million euros, which represents a reduction by 5% compared to October 2016.  The biggest sales increase was achieved in Poland, where sales grew by 552%.  Sales to Lithuania increase by 58%.  During October 2017, the company also made significant shipments to Tajikistan and Albania. Biggest sales reduction was experienced in Kazakhstan, where sales shrunk by 35%.  Major markets of the company during October 2017 were Russia, Latvia, Ukraine and Belarus.  During October 2017 Olainfarm sold its products to 27 countries in two continents.

According to preliminary unconsolidated results, sales of AS Olainfarm in ten months of 2017 reached 76.04 million euros, which represents an increase by 3% compared to ten months of 2016.  The biggest sales increase during this period was achieved in Germany, where sales grew by 116%.  Sales to The Netherlands increased by 92%.  Biggest sales reduction was experienced in Ukraine, where it shrunk by 36%.  Biggest sales markets of AS Olainfarm during this period were Russia, Latvia, Ukraine and Belarus.  In total in ten months of 2017, AS Olainfarm sold its products to 50 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 ten months of 2017 the company has met 79% of annual target for unconsolidated sales and 75% of annual target for consolidated sales.

 JSC Olainfarm is one of the biggest pharmaceutical companies in Latvia with 45 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