Olaine, January 16, 2012

 Sales of “Olainfarm” in December Increased by 27%

Preliminary results of AS “Olainfarm” for December 2011 show that during this period sales have increased by 27% compared to the same period a year ago and have reached 2.66 million lats (3.78 million euros). The biggest sales increase was achieved in Georgia where sales have increased nearly 9 times, in Lithuania where sales increased almost sevenfold, Ukraine where sales increased by 31% and Belarus where sales increased by 21%.  The major sales markets of  AS “Olainfarm” in December 2011 were Russia, Ukraine, the UK, Lithuania, Kazakhstan and Latvia.

December 2011 Share in total sales  Changes to December 2010

Russia 45,7% 6%
Ukraine 13,0% 31%
UK 7,2% NA
Lithuania  5,9% 565%
Kazakhstan 5,2% -32%
Latvia 4,9% 3%
Belarus  3,7% 21%
Uzbekistan 3,7% 94%
Georgia 3,6% 791%
USA 3,0% NA
Other 4,1% -40%
Total 100,0% 27%

During twelve months of 2011 preliminary sales of AS “Olainfarm” were 36.27 million lats (51.60 million euros) – which represents an increase by 45% compared to twelve months of 2010.  The most rapid sales increases were achieved in the Netherlands, where sales have increased 18 times, in Ukraine, by 132%, Lithuania by 53%, the UK by 47% and Latvia, where sales increased by 33%. Major sales markets of AS “Olainfarm” during twelve months of 2011 were Russia, Ukraine, Belarus, Latvia, Kazakhstan and the UK.

2011 Share in total sales
 Changes to 2010 
Russia 38,4% 17%
Ukraine 25,8% 132%
Belarus 8,0% 25%
Latvia 6,0% 33%
Kazakhstan 4,9% 30%
UK 3,3% 47%
The Netherlands  1,9% 1710%
Uzbekistan 1,6% 29%
Lithuania 1,4% 53%
Georgia 1,2% -21%
Other 7,5% 71%
Total 100,0% 45%

On November 16, 2011 Management Board of AS “Olainfarm” revised sales and profit forecast for 2011, and set the new sales forecast for 2011 at 35 million lats (49.8 million euros), and the new profit forecast at 6.3 million lats (8.96 million euro).  According to these preliminary sales figures, during twelve months of 2011 104% of revised annual sales target were met. 

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AS 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
AS Olainfarm
Cell: +371 26448873
e-mail: Salvis.Lapins@olainfarm.lv