Olaine, February 15, 2017

Sales of Olainfarm in January Reach 9.15 Million Euro

Preliminary consolidated results of AS Olainfarm” for January 2017 show that sales of the company during this period were 9.15 million euros, which represents an increase by 4% compared to the same period of 2016.  The biggest sales increase was achieved in Georgia, where sales grew by 615%.  Sales to Lithuania grew by 161%, but sales to Poland grew by 25%.  Significant shipments were also made to The Netherlands.  The biggest sales markets of AS Olainfarm during January 2017 were Latvia, Russia, Belarus and The Netherlands.

Sales of pharmacy chain of SIA Latvijas Aptieka in January were 1.72 million euro, which represents an increase by 4% compared to January 2016.  Sixty six pharmacies were operating during this period.  Sales of SIA Silvanols in January 2017 were 0.5 million euro, which represents an increase by 56% compared to the same period of 2016.  SIA Silvanols sold its products in eight European countries and with the help of AS Olainfarm also to Lithuania, Russia, and Belarus. Sales of SIA Tonus Elast during January 2017 were 0.17 million euros, and its products were sold to 12 countries in four continents.

According to unconsolidated preliminary results, sales of AS Olainfarm in January 2017 were 7.78 million euro, which is comparable to the sales made during January 2016.  The biggest sales increase was achieved in Georgia, where sales grew by 565%.  Sales to Lithuania grew by 200%, sales to Poland grew by 47%.  During this period, significant shipments were also made to The Netherlands and Argentina.  The major sales markets of AS Olainfarm during January 2017 were Russia, Belarus, Latvia and The Netherlands. During January 2017, AS Olainfarm sold its products to 27 countries in four continents.

According to preliminary estimates, unconsolidated sales of AS Olainfarm in 2017 might reach 94 million euros, while consolidated sales might reach 120 million euros.  According to the preliminary sales numbers published here, during January 2017, the company has already made 8% of its unconsolidated sales estimate and 8% of its annual consolidated sales estimate.

 JSC Olainfarm is one of the biggest pharmaceutical companies in Latvia with more than 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 35 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

Information prepared by:

         Salvis Lapins

         JSC Olainfarm

         Member of the Management Board

         Rupnicu iela 5, Olaine, Latvia, LV 2114

         Phone: +371 6 7013 717

         Fax: +371 6 7013 777

         E-mail: Salvis.Lapins@olainfarm.lv