Olainfarm
Financial Statement Release

Sales of Olainfarm in April Increase by 28%

Preliminary consolidated results of AS Olainfarm for April 2017 show that sales in April have reached 11.28 million euros, which represents an increase by 28% compared to sales of April 2016. The biggest sales increase was achieved in The Netherlands, where sales grew by 6642%. Sales to Kazakhstan grew by 159%, sales to Poland grew by 143%, sales to Russia increased by 58%, but sales to Lithuania grew by 43%. The biggest sales reduction took place in Italy, where sales contracted by 43%. Major sales markets of the Group were Russia, Latvia, Ukraine and The Netherlands.

Olaine, 2017-05-15 16:12 CEST --  

Sales of pharmacies of SIA Latvijas aptieka during April 2017 were 1.66 million euros, which represents an increase by 5% compared to Aprils 2016.  Sales of  SIA “Silvanols” in Aprils 2017 were 0.48 million euros, which is an increase by 23% compared to the same period of last year. Suring Aprils 2017, SIA Silvanols sold its products to six European countries and with help of AS Olainfarm also to Azerbaijan, Russia, Belarus and Armenia. Sales of SIA Tonus Elast in Aprils 2017 were 0.65 million euros, and the company sold its products to 16 countries in three continents.

According to preliminary numbers, consolidated sales of AS Olainfarm in four months of 2017 was 38.28 million euros, which represents an increase by 9% compared to the same period of 2016.  The biggest sales increase during this period was achieved in The Netherlands, where sales grew by 427%, while sales to Germany increased by 151%.  The biggest sales reduction took place in Ukraine, where sales shrunk by 49%.  The major sales markets of the group in four months of 2017 were Russia, Latvia, Belarus, Ukraine and The Netherlands.

Sales of pharmacies of SIA Latvijas aptieka in four months of 2017 were 6.8 million euros, which represents an increase by 3% compared to the same period of 2016.  Sales of SIA Silvanols in four months of 2017 were 2.1 million euros, which is an increase by 31% compared to the same period of 2016, when Silvanols’ sales were 1.6 million euros. Products of SIA Silvanols in four months of 2017 were sold to nine European countries and with the help of AS Olainfarm also to Lithuania, Russia, Azerbaijan, Belarus and Armenia.  Sales of SIA Tonus Elast in four months reached 2.5 million euros and this company sold its products to 30 countries in 4 continents.

According to unconsolidated preliminary results, sales of AS Olainfarm in April 2017 were 9.38 million euros, which represents an increase by 22% compared to April 2016.  The biggest sales increase was achieved in The Netherlands, where sales grew by 6642%.  Sales to Lithuania grew by 49%, while sales to Russia increased by 44%.  The biggest sales reduction took place in Italy where sales shrunk by 43%.   In April 2017, the company also made significant shipments to Germany. The biggest sales markets during this period were Russia, Ukraine, Latvia, The Netherlands and Belarus. Products of AS Olainfarm were sold to 29 countries in five continents.

According to unconsolidated preliminary results, sales of AS Olainfarm in four months of 2017 were 30.72 million euros, which represents an increase by 1% compared to the same period of 2016.  The biggest sales increase has been achieved in The Netherlands, where sales have increased by 415%, while sales to Germany increased by 106%.  The biggest sales reduction during this period took place in Ukraine, where sales shrunk by 50%.  The major sales markets of AS Olainfarm in four months were Russia, Latvia, Belarus, Ukraine and The Netherlands.  In total during this four months period AS Olainfarm sold its products to 38 countries in five continents.  

According to preliminary estimates, unconsolidated sales of AS Olainfarm in 2017 might reach 96 million euros, while consolidated sales might reach 127 million euros.  According to the preliminary sales numbers published here, during four months of 2017, the company has already made 32% of its unconsolidated sales estimate and 30% 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