Olaine, February 28, 2013
2012 Was the Most Successful Year of "OlainFarm" So Far
Consolidated profit and loss statement of AS "OlainFarm" for
2012 shows that a concern has set yet another profit record,
making a net profit of 9.75 million lats (13.88 million
euro). This is an increase by 41% compared to 2011 when
AS
"OlainFarm" made a profit of 6.91 million lats (9.84 million
euro).
"Last year was so far the most successful one in corporate
history, which makes us set even higher targets for our
processes
and operations to keep similar pace in future. This year we
will continue with developing the network of “Latvijas aptiekas”,
but in near future we also plan to grow into segment of medical
devices and food supplements and use our
marketing and promotion resources of CIS and other countries to
strengthen it," says Valerijs Maligins, Chairman of
OlainFarm’s Board.
Unaudited consolidated profit and loss statement for 2012 shows
that consolidated sales were 52.91 million lats (75.29
million euro). Net profit of the concern in this period was 9
752 488 lats (13 876 540 euro). A year ago profit of AS
"OlainFarm" was 6 914 051 lats (9 837 808 euro). Fourth quarter of
2012 was the most profitable in corporate history as the
net profit reached 3.4 million lats (4.8 million euro) which is an
increase by 85% compared to the 4th quarter of 2011.
During 2012 41 registration cases of OlainFarm products have
been completed. An eCTD system has been successfully
implemented in a Company and the first file in such format has been
submitted (Memodex 10mg) for registration in 10 EU
countries. For the first time OlainFarm is registering medicines
according to DCP procedure with Latvia being a reference
country.
During 2012 sales to all our key markets continued growing,
except Belarus, which experienced a decline of 10% compared to
rather successful 2011. The biggest sales increases were
achieved in Taiwan, where sales grew 11 times, in Latvia, where
sales grew more than threefold, UK where sales increased by 61%,
Ukraine by 44% and Russia, where sales grew by 31%. Major
sales markets of AS “OlainFarm” in 2012 were Russia, Latvia,
Ukraine, Belarus, Kazakhstan and the UK.
Annual meeting of shareholders of A/s “OlainFarm” held on April
27, 2012 approved operating plan of the Concern.
According
to it, sales of the Concern in 2012 are planned to be 48 million
lats (68.3 million euros), but the net profit will reach
8.6 million lats (12.24 million euros). According to this
unaudited report for 2012, annual sales plan has been
outperformed
by 10.2%, while annual profit target has been exceeded by
13.4%.
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A/s Olainfarm is one of the biggest pharmaceutical companies in
Latvia with 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
e-mail:
Salvis.Lapins@olainfarm.lv
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