Olainfarm’s Sales in February are 8 Million Euro

Olaine, 2017-03-15 15:41 CET (GLOBE NEWSWIRE) --  

Sales by pharmacies of SIA Latvijas aptieka in February 2017 were 1.68 million euros, which represents a reduction by 3% compared to the same period one year ago. Sixty-eight pharmacies were operating during February.  Sales of SIA Silvanols during February 2017 were .57 million euros, which is an increase by 21% compared to 2016.  During this period, SIA Silvanols sold its products to six European countries and with assistance of AS Olainfarm also to Belarus.  Sales of SIA Tonus Elast in February were 0.77 million euros.  This company sold its products to 17 countries in three continents.

During the first two months of 2017, the consolidated sales of the group reached 17.1 million euros, which represents an increase by 0.3% compared to consolidated sales of two months of 2016.  The biggest sales increases were achieved in Georgia, where sales grew by 327% and in The Netherlands, where sales grew by 258%.  The biggest reduction in sales took place in Ukraine, where sales shrunk by 42% and in Kazakhstan, where sales shrunk by 37%.  The major sales markets of AS Olainfarm in two months of 2017 were Russia, Latvia, Belarus and Ukraine.

Sales of pharmacies of SIA Latvijas aptieka in two months of 2017 were 3.4 million euros, which is comparable to their sales during the same period of 2016.  Sales of SIA Silvanols during two months was 1.06 million euros, which represents an increase by 34% compared to two months of last year, when Silvanols’ sales were 0.79 million euros. SIA Silvanols sold its products to nine European countries, and, with the help of AS Olainfarm, also to Russia and Belarus.  Sales of SIA Tonus Elast in two months of 2017 were 0.94 million euros.  This company made its sales to 21 countries in four continents.

According to unconsolidated preliminary results, sales of AS Olainfarm during February 2017 were 6 million euros, which represents a reduction by 14% compared to the same period of 2016.  The biggest sales increases were achieved in Azerbaijan, where sales grew by 67% and in Russia, where sales grew by 8%.  The biggest sales reductions took place in Kazakhstan, where sales shrunk by 64% and in Lithuania, where sales shrunk by 39%.  During February 2017, significant shipments were also made to Bulgaria, Germany and Moldova.  The major sales markets during this period were Russia, Latvia, Ukraine and Belarus.  In total AS Olainfarm sold its products to 23 countries in Europe and Asia.

According to unconsolidated preliminary results, sales of AS Olainfarm in two months of 2017 were 13.7 million euros, which represents a reduction by 7% compared to the same period of 2016.  The biggest sales increases were achieved in The Netherlands, where sales grew by 258% and in Georgia, where sales grew by 229%.  The biggest sales reduction took place in Kazakhstan, where sales shrunk by 62% and in Ukraine, where sales shrunk by 40%.  Biggest sales markets of AS Olainfarm in two months of 2017 were Russia, Latvia, Belarus and Ukraine.  In total in two months of 2017, AS Olainfarm sold its products to 33 countries in four 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 two months of 2017, the company has already made 14% of its unconsolidated sales estimate and 13% 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