Sales of Olainfarm in November Shrink by 10%

Preliminary consolidated results of AS Olainfarm for November 2017 show that total sales of the company have reached 10.07 million euros, which represents a reduction by 10% compared to the same period of 2016.  The biggest sales increase has been achieved in Ukraine, where it increased by 209%.  Sales to Kyrgyzstan increased by 149%, but sales to Uzbekistan increased by 133%.  Biggest sales reduction took place in Kazakhstan, where they shrunk by 65%.  During November 2017 AS Olainfarm also made significant shipments to Turkmenistan. Major sales markets of the Group during November 2017 were Russia, Latvia and Ukraine.

Sales of SIA Latvijas Aptieka during November were 1.9 million euros, which represents an increase by 18% compared to November of 2016.  Sixty – nine pharmacies were operating during this period.  Sales of SIA Silvanols in November 2017 were 0.46 million euros, which represents a reduction by 28% compared to the same period of last year. During November, SIA Silvanols was selling its products to nine European countries and with the assistance from AS Olainfarm also to Belarus, Russia, Azerbaijan and Kosovo.  Sales of SIA Tonus Elast during November 2017 were 0.9 million euros, which represents an increase by 15% compared to November 2016.  Its products were sold to 20 countries in three continents.

According to preliminary consolidated results sales of eleven months of 2017 reached 105.19 million euros, which represents an increase by 5% compared to eleven months of 2016.  The biggest sales increase during this period was achieved in Germany, where sales grew by 106%, while sales to The Netherlands increased by 92%.  The biggest sales reduction was experienced in Ukraine, where sales shrunk by 27%.  Major sales markets of the Group during this period were Russia, Latvia, Ukraine and Belarus.  Products of the group were sold to 61 countries in five continents

During eleven months period, sales of SIA Latvijas Aptieka reached 19.6 million euros, which represents an increase by 15% compared to the same period of last year. Sales of SIA Silvanols during this period shrunk by 4% and reached 4.7 million euros. SIA Silvanols sold its products to twelve European countries and with assistance from AS Olainfarm also to Kazakhstan, Lithuania, Belarus, Russia, Armenia, Mongolia, Kosovo and Azerbaijan. Sales of SIA Tonus Elast during eleven months were 7.7 million euros, and its products were sold to 38 countries in four continents.

According to preliminary unconsolidated results, sales of AS Olainfarm during November 2017 reached 7.97 million euros, which represents a reduction by 12% compared to November 2016.  The biggest sales increase during this period was achieved in Ukraine, where sales grew by 223%.  Sales to Uzbekistan increased by 133%, sales to Kyrgyzstan increased by 104%.  The biggest sales reduction during November was experienced in Kazakhstan, where sales shrunk by 76%.  During November 2017, AS Olainfarm also made significant shipments to Turkmenistan. Major sales markets of AS Olainfarm during this period were Russia, Ukraine, Latvia and Belarus.  In total products of Olainfarm were sold to 23 countries in Europe and Asia.

According to preliminary unconsolidated results, sales of AS Olainfarm in eleven months of 2017 were 84 million euros, which represents a reduction by 1% compared to eleven months of 2016.  The biggest sales increase during this period was achieved in Germany, where sales grew by 103% and The Netherlands, where the sales grew by 92%.  The biggest sales reduction was experienced in Ukraine, where sales shrunk by 27% and Uzbekistan, where sales shrunk by 23%.  Major sales markets of AS Olainfarm during this period were Russia, Latvia, Ukraine and Belarus.  IN total during eleven months period products of AS Olainfarm were sold 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 eleven months of 2017 the company has met 88% of annual target for unconsolidated sales and 83% 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