Sales of Olainfarm in January Exceed 9 Million Euros

Preliminary consolidated sales results of AS Olainfarm for January of 2018 show that sales have reached 9.19 million euros, which is comparable to the sales volume demonstrated in January of 2017.  The biggest sales increase was achieved in Uzbekistan, where sales grew by 237%.  Sales to Ukraine grew by 222%, but sales to Kazakhstan increased by 131%.  The biggest sales reductions were experienced in The Netherlands, where sales shrunk by 89% and Poland, where sales shrunk by 40%.  Major sales markets of Olainfarm group in January of 2018 were Latvia, Russia, Belarus and Ukraine.  Products of the group were sold to 31 countries.

Sales numbers of daughter companies of AS Olainfarm that provide significant impact on consolidated results show that sales of Latvijas Aptieka in January reached 2.03 million euros, which represents an increase by 18% compared to January of 2017. Sixty-nine pharmacies were operating during January.  Sales of SIA Silvanols during this period were 0.42 million euros, which represents a reduction by 16%.  Combined sales of Tonus Elast and its Russian based distributor Elast Medical reached 0.52 million euros.  Combined sales of medical companies Diamed and Olainmed reached 0.2 million euros, while sales of Belarus based company NPK Biotest also reached 0.2 million euros.

According to unconsolidated preliminary results, sales of As Olainfarm in January 2018 reached 7.1 million euros, which represents a reduction by 9% compared to the same period of 2017.  Biggest sales increase was achieved in Uzbekistan, where sales grew by 237%.  Sales to Ukraine grew by 222%, but sales to Kazakhstan grew by 175%.  The biggest sales reduction was experienced in The Netherlands, where sales shrunk by 89%.  Major sales markets during January were Belarus, Latvia, Russia and Ukraine.  In total products of Olainfarm were sold to 27 countries.

Preliminary sales targets of AS Olainfarm for 2018 are being finalized, therefore the percentages of achieved sales targets will be provided beginning with the next monthly sales reports, once budgets for 2018 are approved.

 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