| Emitents | Olainfarm, AS (213800WCG52W62ENOP27) |
| Veids | Finanšu pārskati |
| Valoda | EN |
| Statuss | Publicēts |
| Versija | |
| Datums | 2010-05-28 16:56:52 |
| Versijas komentārs | Drukas kļūda pārskata pirmajā lapaspusē |
| Teksts |
Olaine, May 28, 2010
Profit of Olainfarm in 3 months reaches 1
million euros, export increases to 95%
Profit of JSC „Olainfarm” during the first quarter of
this year has reached 0.7 million lats (1 million euros), but the
sales exceed 6.1 million lats (8.6 million euros). For
Olainfarm this has been the best ever beginning of the year (first
quarter) and it can be explained with significant increase in
exports, today 95% of company’s sales are made abroad. In some
export markets the sales increase exceeds 100%, but in Uzbekistan
Olainfarm’s sales have grown even by 1500% compared to the first
quarter of 2009.
“Because of work we did for product promotion,
introduction and for entering new markets, the first quarter of
2010 has been historically best beginning of the year for
Olainfarm’s financials. We are particularly glad to be
performing so well in the countries of Central Asia: Uzbekistan,
Kyrgyzstan, Kazakhstan and Tajikistan. Sales to these
countries have grown particularly strongly and this gives me the
reason to say that Olainfarm now has caught the wave of growth”,
says Valerijs Maligins, Chairman of the Board of
Olainfarm.
During the first quarter of 2010 sales of Olainfarm have
grown by about 10%, but profit by 50% compared to the first quarter
of 2009.
Sales to some export markets have been growing
particularly strongly in the first three months of 2010. Some
untypical sales markets, like the UK and Australia have appeared
among Olainfarm’s top 10 countries during this period. The
biggest sales growth was experienced in Uzbekistan, where the sales
grew very considerably – by 1 457%. Kyrgyzstan, despite
political unrest in this country, has shown the increase by 192%,
Kazakhstan by 117%, Tajikistan by 60%, Azerbaijan by 25%, Russia by
15%, Belarus by 12%, and Ukraine by 10%. This resulted in
Belarus becoming the third biggest market for the Company (after
Russia and Ukraine) and exports increasing to 95% of the total
sales.
During the 1st quarter of 2010 7 registration cases have
been finished, including registration of company’s new product
Midolat® in Latvia, registration of ampouled form of Vazonat® in
Ukraine and registration of 5 products in Albania. This market
is completely new for the Company and the first shipments to this
market are planned for the nearest months. Also several
registration files have been submitted to other markets that are
untypical for the company, including Indonesia and
Serbia. During the reporting period pilot tests of
R-Fenotropil have also been successfully completed and the work has
been launched to identify the optimal drug form for this
molecule.
Annual General Meeting of Shareholders of „Olainfarm”
held on April 29, 2010 approved the operating plan of the
company. According to it, the forecast sales of Olainfarm for
2010 are 24.5 million lats (34.9 million Euro), but the net profit
is forecast at 2.7 million lats (3.8 million Euro). Sales of
the Concern during the first quarter of 2010 were 24% of the annual
target, while the net profit was 26% of it. Therefore, during
the first quarter the company has been rather precisely following
its annual forecast.
AS „Olainfarm“ is one of the largest companies in
Baltic countries with nearly 40 years of experience in production
of medicines and chemical and pharmaceutical products. The key
principle of company's operations is to produce reliable and
effective top quality products for Latvia and the rest of the
world. Currently products of “Olainfarm” are being exported to
more than 30 countries worldwide, including the Baltics, Russia,
other CIS, Europe, North America, Asia, and
Australia
Information prepared by
Salvis Lapins
JSC "Olainfarm"
Member of the Board
tel. +371 6 7013717,
Cell: + 371 2 6448873
Fax. + 371 6 7013777
E-mail:
slapinsh@olainfarm.lv
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