Olainfarm
Company Announcement

“Olainfarm” Achieves Record Sales in November

Preliminary consolidated results of AS “Olainfarm” for November show that sales of the company have increased by 95% compared to the same period one year ago and reached 6.04 million lats (8.59 million euro). Biggest sales increases were experienced in Ukraine, where sales grew by 526% and Latvia, where sales grew by 338%. Major sales markets of AS “Olainfarm” in November 2012 were Ukraine, Russia, Latvia and Belarus.

Olaine, December 17, 2012, 2012-12-17 16:27 CET --  

Because of the possible delay with renewal of registration documents, there is a risk that at the beginning of 2013, imports of several products to Ukraine will be temporarily limited.  For this reason, during extra shipments to Ukraine were made.  It is very difficult to identify the precise value of extra shipments, however, it has been preliminary estimated that in addition to normal demand, products worth 1.9 million lats were sold to Ukraine during November. 

During eleven months of 2012 preliminary consolidated sales of AS “Olainfarm” reached 47.12 million lats (67.05 million euro), which represents an increase by 40% compared to the same period of 2011.  Biggest sales increases during these 11 months were achieved in Taiwan, where sales grew 11.5 times, Latvia (4 times), UK, where sales nearly doubled, Uzbekistan, where sales grew by 36%, and Russia where sales grew by 30%.  Major sales markets of  AS “Olainfarm” during eleven months of 2012 were Russia, Ukraine, Latvia, Belarus, UK and Kazakhstan.

During November 2012, pharmacies owned by AS “Olainfarm” made sales of 0.66 million lats (0.94 million euro). During eleven months of 2012 sales of pharmacies owned by AS “Olainfarm” were 6.48 million lats (9.22 million euro).

According to preliminary unconsolidated figures, sales of AS “Olainfarm” in November 2012 were 5.53 million lats (7.87 million euro), which represents an increase by 79% compared to the same period a year ago.  The biggest sales increases were experienced in Ukraine (by 526%), Moldova (by 117%), Kyrgyzstan (by 87%), and Latvia, where sales increased by 69%.  According to unconsolidated numbers the major sales markets of AS in November were Ukraine, Russia, Latvia and Belarus.

According to preliminary data, during eleven months of 2012 unconsolidated sales of AS “Olainfarm” were 41.34 million lats (58.8 million euro), which represents an increase by 23% compared to the same period of 2011.   The most rapid sales increases were observed in Taiwan, where sales grew 11.5 times and the UK, where sales almost doubled.  According to preliminary unconsolidated figures the major sales markets of AS “Olainfarm” during eleven months of 2012 were Russia, Ukraine, Latvia, Belarus, UK and Kazakhstan.

Sales forecasts of AS „Olainfarm” for 2012.gada provide that unconsolidated sales in 2012 will reach 40 million lats (56.91 million euro), but consolidated sales will reach 48 million lats (68.3 million euro).  According to these preliminary unconsolidated sale figures, during eleven months of 2012, target of unconsolidated sales for the entire year has exceeded as 103% of target are achieved, while according to preliminary consolidated figures, during the eleven months of 2012 nearly 98% of the target are met.

A/s Olainfarm is one of the biggest pharmaceutical companies in Latvia with 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
         A/s „Olainfarm”
         Tel: +371 6 7013 717
         e-mail: Salvis.Lapins@olainfarm.lv