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Sales of “Olainfarm” grew by 65% in April

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Olainfarm, AS (213800WCG52W62ENOP27)

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2011-05-11 20:36:53

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Olaine, May 11, 2011

Sales of “Olainfarm” grew by 65% in April

Preliminary sales figures of AS “Olainfarm” for April 2011 show that sales have grown by 65% compared to April 2010 and have reached 3.38 million lats (4.81 million Euro). The most rapid sales growth was achieved in Kazakhstan (by 157%), Azerbaijan (by 153%), Ukraine (by 133%) and Tajikistan (by 126%). The main sales markets of AS “Olainfarm” during April 2011 were Russia, Ukraine, UK, Kazakhstan, Belarus and Latvia.

April, 2011.	% of total sales	% change to April 2010
Russia	37,1%	39%
Ukraine	21,9%	133%
UK	11,3%	NA
Kazakhstan	7,6%	157%
Belarus	6,1%	-38%
Latvia	4,3%	23%
Canada	2,9%	NA
Lithuania	1,6%	NA
Azerbaijan	1,2%	153%
Tajikistan	1,1%	126%
Other	5,0%	-32%

Total	100%	65%

According to preliminary results, during 4 months of 2011 the sales have reached 11.32 million lats (16.11 million Euro), which represents an increase by 39% compared to the first four months of 2010. The biggest sales increases were observed in Canada, where sales have increased more than 30 times, in Bulgaria (by 277%), UK (by 100%), Ukraine (by 95%), Italy (by 89%) and Latvia (by 60%). Major sales markets of AS “Olainfarm” during four months of 2011 were Russia, Ukraine, Belarus, UK and Latvia.

4 months of 2011	% of total sales	% change to 4 months of 2010
Russia	38,3%	12,4%
Ukraine	20,2%	94,5%
Belarus	11,3%	54,2%
UK	6,8%	100,0%
Latvia	5,9%	60,4%
Kazakhstan	3,7%	-13,2%
Canada	1,8%	3045,5%
Uzbekistan	1,7%	30,0%
Italy	1,7%	88,6%
Bulgaria	1,6%	277,1%
Other	7,1%	14,7%

Total	100%	39%

Operating plan and budget of AS “Olainfarm” for 2011 provides that company plans the sales of 29.4 million lats (41.8 million Euro) and the net profit of 5.1 million lats (7.3 million Euro).

A/s Olainfarm is one of the biggest pharmaceutical companies in Latvia with nearly 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 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

         Information prepared by:
         Salvis Lapins
         Member of the Board
         A/s „Olainfarm”
         Tel: +371 6 7013 717
         Cell: +371 2 6448 873
         E-mail: slapinsh@olainfarm

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