Consolidated sales – January

Preliminary consolidated results of AS Olainfarm for January 2019 show that sales of the Group have reached 12.4 million euros, which represents an increase by 35% compared to sales made in January 2018.

According to consolidated sales figures of January three major sales markets of the Group were Latvia, where sales grew by 16%, Russia, where during the same period sales have grown by 78% and Belarus with 32% sales increase.  From 10 biggest sales markets the sales have shrunk only in Uzbekistan (by 8%). All other of top 10 markets have demonstrated sales increases, the biggest ones coming from Turkmenistan (437%), Moldova (308%) and The Netherlands (246%).

 January 2019, consolidated sales Sales, Thsnd. EUR S hare in total sales Changes to January 2018
Latvia 3 397 27% 16%
Russia 3 055 25% 78%
Belarus 2 236 18% 32%
Ukraine 1 508 12% 36%
The Netherlands 336 3% 246%
Turkmenistan 251 2% 437%
Germany 244 2% 17%
Poland 219 2% 27%
Uzbekistan 157 1% -8%
Moldova 127 1% 308%
Other 889 7% -13%
Total 12 419 100% 35%

Unconsolidated sales – January

According to preliminary unconsolidated sales figures of AS Olainfarm for January, the company made sales worth 9.9 million euros, which represents an increase by 40% compared to the same period of 2018. The main growth drivers were sales increases in Turkmenistan (by 437%), The Netherlands (by 246%) and Russia (by 91%).  The only country with some sales reduction was Uzbekistan (-8%)

January 2019, unconsolidated sales Sales, Thsnd. EUR Share in total sales Changes to January 2018
Russia 2 833 29% 91%
Belarus 1 929 19% 29%
Latvia 1 647 17% 10%
Ukraine 1 508 15% 36%
The Netherlands 336 3% 246%
Turkmenistan 251 3% 437%
Germany 244 2% 18%
Poland 219 2% 65%
Uzbekistan 157 2% -8%
Spain 114 1% NA
Other 695 7% -18% 
Total 9 934 100% 40%

Performance of Daughter Companies in January

Sales of SIA Latvijas Aptieka in January 2019 reached 2.3 million euros, which represents an increase by 16% compared to January of 2018.  Seventy pharmacies were operating during this period.  Sales of SIA Silvanols during January reached 0.48 million, which also represents 16% increase compared to January 2018.  Sales of elastic medical companies Tonus Elast and Elast Medical reached 0.53 million euros, sales of health care providers Olainmed and Diamed reached 0.23 million euros, but sales of Belarus based NPK Biotest were as high as 0.27 million euros.

  January 2019
Sales markets of Olainfarm 28
Sales markets of the Group 32
Number of Latvijas Aptieka pharmacies 70
Sales of Latvijas Aptieka thsnd.   2 345
Sales of Olainmed and Diamed thsnd.    232
Sales of NPK Biotest thsnd.   265
Sales of Tonus Elast and Elast Medical, thsnd.   529
Sales of Silvanols, thsnd.  485

  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