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“Olainfarm” Sales in May Grew by 52%

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Olainfarm, AS (213800WCG52W62ENOP27)

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2011-06-15 22:47:34

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Olaine, June 15, 2011

“Olainfarm” Sales in May Grew by 52%

Preliminary sales figures of AS “Olainfarm” for May 2011 show that sales have increased by 52% compared to the same period one year ago and have reached 2.9 million lats (4.13 million euro). The most rapid increase in sales was experienced in Moldova (by 171%), Ukraine (by 168%), Latvia (by 85%) and Georgia where the sales have grown by 58%. The major sales markets of AS “Olainfarm” during May of 2011 were Russia, Ukraine, Latvia, Kazakhstan and Belarus.

May, 2011	% of total sales	% change to May 2010
Russia	35%	-4%
Ukraine	35%	168%
Latvia	7%	85%
Kazakhstan	6%	NA
Belarus	5%	-28%
Uzbekistan	4%	NA
Moldova	3%	171%
Taiwan	1%	NA
Georgia	1%	58%
Lithuania	1%	-54%
Other	2%	-11%

Total	100%	52%

During five months of 2001 preliminary sales of AS “Olainfarm” were 14.22 million lats (20.23 million euro), which represents an increase by 41% compared to similar period of 2010. The fastest growth was seen in Canada, where sales grew by more than 30 times, Moldova by 144%, Uzbekistan (by 118%), Ukraine (by 112%) UK (by 100%) and Latvia, where sales grew by 66%. The major sales markets of AS “Olainfarm” during first five months of 2011 were Russia, Ukraine, Belarus, Latvia and the UK.

5 months of 2011	% of total sales	% change to 5 months of 2010
Russia	38%	9%
Ukraine	23%	112%
Belarus	10%	39%
Latvia	6%	66%
UK	5%	100%
Kazakhstan	4%	25%
Uzbekistan	2%	118%
Lithuania	1%	41%
Canada	1%	3046%
Moldova	1%	144%
Other	7%	26%

Total	100%	41%

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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