Consolidated sales : December and twelve months

Preliminary consolidated results of AS Olainfarm for December 2018 show that the sales of the Group have reached 11.1 million euros, which represents an increase by 10% compared to December of 2017.  According to preliminary information, sales in 2018 reached 123.6 million euros and demonstrated 8% growth compared to preliminary results of 2017, while compared to consolidated sales according to Annual report, they demonstrated 1% increase.  During 2018, products of Olainfarm group were sold to 54 countries worldwide.

According to consolidated sales figures for December three major sales markets of the Group are Russia, where sales have dropped by 7% compared to December of 2017, Latvia, where during the same period sales have increased by 19%, and Ukraine with 37% sales drop.  Uzbekistan is the only other country from major sales markets, experiencing minor (-2%) sales drop.  All other major markets demonstrated sales increase.  The biggest increases were achieved in Japan (by 5568%), Poland (300%) and Kazakhstan (116%).

Major sales markets of Olainfarm Group have remained unchanged in 2018, as they include: Russia (with 31% share) Latvia (28%), Belarus (11%) and Ukraine (9%). Kazakhstan, Uzbekistan, Germany, Lithuania, Poland and Tajikistan are also among top 10 sales markets.  The biggest sales increases have been achieved in Belarus, where sales have increased by 54%, compared to 2017, and Tajikistan, where sales have increased by 32%.  Sales to Poland and Uzbekistan have increased by 28% each.  Russia is the only top 10 market of the Group, where sales have decreased (by 5%) during the reporting period.

 December 2018, consolidated sales Sales, thsnd. EUR Share in total sales Changes to December 2017
Russia 4 150 37% -7%
Latvia 3 203 29% 19%
Ukraine 532 5% -37%
Belarus 428 4% 39%
Kazakhstan 416 4% 116%
Japan 411 4% 5568%
Poland 376 3% 300%
Georgia 207 2% 67%
Kyrgyzstan 184 2% 64%
Uzbekistan 172 2% -2%
Other 1 009 9% -6%
Total 11 090 100% 10%
12 months of 2018, consolidated sales Sales, thsnd. EUR Share in total sales Changes to 12 months of 2017
Russia  37 866 31% -5%
Latvia 28 492 28% 23%
Belarus 13 764 11% 54%
Ukraine 11 172 9% 2%
Kazakhstan 3 486 3% 12%
Uzbekistan 2 391 2% 28%
Germany 1 883 2% 10%
Lithuania 1 814 1% 20%
Poland 1 762 1% 28%
Tajikistan 1 413 1% 32%
Other 13 064 11% -14%
Total 123 645 100% 8%

Standalone sales: December and twelve months

According to preliminary unconsolidated figures, sales of AS Olainfarm in December reached 8.3 million euros, which represents an increase by 3% compared to the same period of last year.   The main factors influencing such an increase are sales increases in Japan (by 5568%), Poland (by 298%) and Kazakhstan (by 180%).  Some sales reduction took place in Ukraine (by 38%), Belarus (by 19%), Russia (by 9%) and in Uzbekistan (by 2%).

Unconsolidated results of twelve months show that sales of AS Olainfarm reached 93.7 million euros, which represents an increase by 2% compared to 2017. During this period sales increased in all major markets of the company, except Russia, where they shrunk by 10%.  During this twelve-month period the sales of AS Olainfarm increased in Tajikistan by 35%, in Lithuania by 30% and in Poland and in Uzbekistan by 28% each.

December 2018, unconsolidated sales Sales, thsnd. EUR Share in total sales Changes to December, 2017
Russia 3 794 45% -9%
Latvia 1 512 18% 7%
Ukraine 470 6% -38%
Japan 411 5% 5568%
Poland 372 4% 298%
Kazakhstan 313 4% 180%
Belarus 198 2% -19%
Uzbekistan 172 2% -2%
Kyrgyzstan 148 2% 49%
Georgia 136 2% 177%
Other 820 10% -13% 
Total 8 347 100% 3%
Twelve months of 2018, unconsolidated sales Sales, thsnd. EUR Share in total sales Changes to 12 months of 2017
Russia 32 919 35% -10%
Latvia 17 187 18% 16%
Belarus 11 167 12% 27%
Ukraine 10 900 12% 2%
Uzbekistan 2 391 2% 28%
Kazakhstan 2 303 2% 10%
Germany 1 865 2% 12%
Lithuania 1 671 2% 30%
Poland 1 415 2% 28%
Tajikistan 1 365 1% 35%
Other 10 565 11% -14%
Total 93 747 100% 2%

Performance of daughter companies: December and twelve months

Pharmacies of SIA Latvijas Aptieka owned by AS Olainfarm made sales worth 2.1 million euros in December, demonstrating 6% increase compared to December of 2017. Sixty-nine pharmacies were operating during December. Sales of SIA Silvanols in December reached 0.56 million euros, representing 39% increase compared to December 2017.  Combined sales of Tonus Elast and Elast Medical during this period were 0.86 million euros.  Sales of medical centers of Olainmed and Diamed reached 0.2 million, while sales of Belarus based NKP Biotest reached 0.23 million.

Sales of SIA Latvijas Aptieka in 2018 reached 23.5 million euros, representing 9% increase compared to 2017.  Sales of SIA Silvanols during the reporting period reached 5.9 million euros, which represents an increase by 14% compared to previous year.  Combined sales of Tonus Elast and Elast Medical reached 10.1 million euros, sales of medical centres reached 2.6 million, while sales of NPK Biotest reached 2.4 million euros.

  December 2018 12 months of 2018
Sales countries of Olainfarm 29 48
Sales countries of the Group 34 54
Number of pharmacies of Latvijas Aptieka 69  
Sales of Latvijas Aptieka, thsnd.   2 124 23 524
Sales of Diamed and Olainmed, thsnd.    207 2 599  
Sales of NPK Biotest, thsnd     230 2 360
Sales of Tonus Elast and Elast Medical, thsnd.   862 10 054  
Sales of Silvanols, thsnd.  558 5 885

According to approved operating plan of AS Olainfarm for 2018, unconsolidated sales of the company were planned to reach 96 million euros, while consolidated sales were planned at 130 million euros.  According to these preliminary sales figures, during 12 months of 2018, 98% of unconsolidated sales plan and 95% of consolidated sales plan have been attained.

 JSC Olainfarm is one of the biggest pharmaceutical companies in Latvia with 45 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 60 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

Information prepared by:          Inga Krūkle Member of the Board JSC Olainfarm Ph.: +371 28698449 inga.krukle@olainfarm.com