Published: 2011-11-15 15:45:15 CET
Interim report (Q1 and Q3)

Sales of “Olainfarm” grow by 47% in October

Preliminary results of AS “Olainfarm” for October show that the sales have increased by 47% compared to the October of 2010 and have reached 3.21 million lats (4.56 million euros). The most rapid sales increases were experienced in the USA, where sales grew 607 times, the UK, which showed increase in sales of 138 times, Ukraine and Belarus by 51% and Latvia by 30%. The major sales markets of AS “Olainfarm” in October 2011 were Russia, Ukraine, Belarus, The Netherlands, Latvia and the UK. During October 2011 significant shipments were also made to the USA and Switzerland.

Olaine, November 15, 2011, 2011-11-15 15:45 CET --  

October 2011 Share  in total  sales          Changes to October 2010
Russia 37% 14%
Ukraine 19% 51%
Belarus 9% 51%
The Netherlands 8% NA
Latvia 7% 30%
UK 6% 13654%
Kazakhstan 4% 1%
USA 2% 60607%
Georgia 2% -3%
Switzerland 1% NA
Others 5% -22%
Total 100% 47%


During 10 months of 2011 sales of AS “Olainfarm” reached 29.93 million lats (42.59 million euros), which represents an increase by 42% to the respective period a year ago.  The fastest sales increase was seen in Canada, where during ten months of this year sales grew 51 times, sales to The Netherlands grew 18 times, to Ukraine by 143%, to Latvia by 42%, to the UK by 25% and to Uzbekistan by 21%.  Major sales markets of AS “Olainfarm” during ten months of 2011 were Russia, Ukraine, Belarus, Latvia and Kazakhstan.



10 months of 2011 Share            in total sales Changes to 10 months of 2010
Russia 38% 15%
Ukraine 27% 143%
Belarus 8% 18%
Latvia 6% 42%
Kazakhstan 5% 18%
UK 3% 25%
The Netherlands 2% 1710%
Uzbekistan 2% 21%
Canada 1% 5016%
Georgia 1% -42%
Others 8% 37%
Total 100% 42%



Budget and operating plan of AS “Olainfarm” for 2011 provides that sales of the company during 2011 will reach 29.4 million lats (41.8 million euros), while the net profit will reach 5.1 million lats (7.3 million euros). According to these preliminary sales results during ten months of this year the company has by nearly 2% exceeded its annual sales forecast, therefore the Management Board of the company plans to increase the sales and profit forecasts for 2011.  New sales and profit forecasts will be published on November 16, 2011 after the end of the trading session.


AS Olainfarm is one of the biggest pharmaceutical companies in Latvia with nearly 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 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.    


         Information prepared by:
         Salvis Lapins
         Member of the Board
         AS Olainfarm
         Cell: +371 26448873