Olaine, March 14, 2012

 Sales of “Olainfarm” in February grow by 60%

Preliminary consolidated sales figures of AS “Olainfarm” for February 2012 show that sales have grown by 60% compared to the same period a year ago and have reached 4.02 million lats (5.72 million euros).  The biggest sales increases were achieved in USA, where sales grew 50 times, sales to Georgia grew 19 times, to Latvia nearly fourfold, sales to Ukraine more than doubled, sales to Lithuania grew by 27% and to Russia by 24%. The major sales markets of AS “Olainfarm” during February 2012 were Russia, Ukraine, Latvia, the UK, Kazakhstan and Belarus.

 
Consolidated sales: February 2012  Share in total sales  Changes to February 2011    
Russia      33%   24%   
Ukraine      22%   129%   
Latvia      18%   263%   
UK      10%   NA   
Kazakhstan     6%   NA   
Belarus      5%   -43%   
Moldova      2%   13%   
Lithuania     1%   27%   
Georgia      1%   1801%   
USA      1%   4910%   
Other       2%   -77%   
Total      100%   60% 

During two months of 2012 preliminary consolidated sales of AS “Olainfarm” were 7.62 million lats (10.84 million euros), which represents an increase by 42% compared to the respective period of 2011.  The most rapid sales increases were experienced in the USA, where sales have increased 267 times, to Latvia, where sales grew fourfold, Taiwan, almost fourfold, Kazakhstan, nearly threefold, and Ukraine, where sales more than doubled.  Major sales markets of AS “Olainfarm” during first two months of 2012 were Russia, Ukraine, Latvia, the UK, Belarus, Kazakhstan and the USA.

 
Consolidated sales: 2 months of 2012  Share in total sales  Changes to two months of 2011   
Russia      35%   31%   
Ukraine      26%   113%   
Latvia      18%   316%   
UK      5%   0%   
Belarus      5%   -47%   
Kazakhstan     3%   179%   
USA      2%   26639%   
Lithuania      1%   -17%   
Moldova      1%   -19%   
Taiwan      1%   259%   
Other      4%   -58%   
Total      100%   42% 

Sales of pharmacies owned by AS “Olainfarm” during February were 0.5 million lats (0.71 million euros). During two months of 2012 sales of pharmacies were 1.02 million lats (1.45 million euros).

According to unconsolidated sales figures of AS “Olainfarm”, sales during February were 3.54 million lats (5.04 million euros).  This represents an increase by 41% compared to the same period a year ago.  The biggest sales increases were achieved in USA, where sales grew 50 times, sales to Georgia grew 19 times, to Latvia nearly fourfold, sales to Ukraine more than doubled, sales to Lithuania grew by 27% and to Russia by 24%. The major sales markets of AS “Olainfarm” during February 2012 were Russia, Ukraine, Latvia, the UK, Kazakhstan and Belarus.

 
Unconsolidated sales: February 2012  Share in total sales  Changes to February 2011   
Russia      38%   24%   
Ukraine      25%   129%   
UK      11%   NA   
Latvia      6%   16%   
Kazakhstan     6%   NA   
Belarus      6%   -43%   
Moldova      2%   13%   
Lithuania     2%   27%   
Georgia      1%   1801%   
USA      1%   4910%   
Other       2%   -77%   
Total       100%   41% 

During two months of 2012, according to preliminary unconsolidated figures, the sales of AS “Olainfarm” were 6.63 million lats (9.43 million euros), which is an increase by 24% compared to the respective period of 2011. The most rapid sales increases were experienced in the USA, where sales have increased 267 times, to Latvia, where sales grew fourfold, Taiwan, almost fourfold, Kazakhstan, nearly threefold, and Ukraine, where sales more than doubled.  Major sales markets of AS “Olainfarm” during first two months of 2012 were Russia, Ukraine, Latvia, the UK, Belarus, Kazakhstan and the USA.

 
Unconsolidated sales: 2 months of 2012  Share in total sales  Changes to 2 months of 2012   
Russia      40%   31%   
Ukraine      30%   113%   
Latvia      6%   19%   
UK      6%   0%   
Belarus      6%   -47%   
Kazakhstan     3%   179%   
USA      2%   26639%   
Lithuania      1%   -17%   
Moldova      1%   -19%   
Taiwan      1%   259%   
Other      4%   -58%   
Total      100%   24% 

Although no forecasts of AS “Olainfarm” are formally approved, for planning purposes the Board of the Company is using forecasts according to which the unconsolidated sales of the company in 2012 will reach 40.6 million lats (57.8 million euro), which represents an increase by 12% compared to sales made during 2011. According to these preliminary unconsolidated sales figures, during two months of 2012, 16.33% of sales forecasts for the year 2012 are already met.

  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