On March 6 AS „Olainfarm” organized its fourth quarter 2012
Investor Conference Online Webinar for investors. During the
webinar the member of the management board of AS „Olainfarm” Salvis
Lapiņš analysed the financial results of fourth quarter
and full year of 2012 and informed about the company’s future
activities.
As Salvis Lapiņš informed during the webinar AS “Olainfarm” Board
intends to increase the dividend pay-out ratio by 2.5
percentage points every year in coming years, if possible. The
Board intends to propose such approach to shareholders until
the pay-out ratio reaches 25%. Taking into account the non-audited
financial results of 2012, the dividends for the year
2012 could reach 0.10 LVL (0.14 EUR) per share.
Also, Salvis Lapiņš informed that currently AS „Olainfarm”
already owns 45 pharmacies in Latvia and the plan to increase
the
number till 50 is still valid.
Answering the questions sent in by the investors, Salvis Lapiņš
reminded that the company has signed an Agreement On Project
Implementation with Latvian Investment and Development Agency
(LIDA), according to which AS „Olainfarm”willl make high
value-added investments into production of nitrofuranes and 35% of
the eligible project costs will be funded by LIDA. Total
cost of the project is 5.88 million lats and the completion is
scheduled in 2015. During 2013 it is planned to invest 3-3.2
million lats (4.3-4.5 million EUR) from the total sum of the
project.
The recorded “Olainfarm” webinar is available online: http://ej.uz/OLFQ4_rec,
and the presentation, demonstrated during the
webinar, can be found in the previously published AS “Olainfarm”
announcement:
https://newsclient.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=545057&messageId=671769.
Olainfarm thanks all participants, who joined the webinar, and
encourages everybody to follow company’s announcements to get
information on the next webinar!
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
Cell: +371 2 6448 873
E-mail: slapinsh@olainfarm.lv
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