Preliminary consolidated results of JSC Olainfarm for October 2018 show that company’s sales have reached 12.78 million euros, which represents an increase by 34% compared to the same period of 2017.  Over the ten-month period, sales of the Olainfarm Group have increased by 7%, in comparison with the corresponding period of 2017, and reached 101.8 million euros. In the ten months Olainfarm Group has sold its products in 52 markets.

Consolidated data

The biggest sales increase in October was achieved in Kazakhstan, where sales grew by 447%.  Significant growth was also reached in India and Belarus where sales grew accordingly by 330% and 189%.   The three major sales markets of Olainfarm Group during the October 2018 were Russia, Latvia and Belarus. In October Olainfarm Group sold its products in 35 countries worldwide.

In ten months of 2017, according to the preliminary results, the consolidated sales of JSC Olainfarm reached 101,8 million euros, which represents an increase by 7% compared to ten months of 2017.  The biggest sales increase during this period was achieved in Belarus, where sales increased by 52%.  Sales to Uzbekistan and Tajikistan increased by 45% and 43% accordingly.   Minor sales reduction by 5% took place in Russia. The major sales markets of Olainfarm Group during the ten-month period were Russia, Latvia and Belarus.

Unconsolidated data

According to unconsolidated preliminary results, sales of JSC Olainfarm in October 2018 were 9.8 million euros, which represents the growth by 28% compared to October 2017.  The biggest sales increase was achieved in India, Kazakhstan and Belarus where sales grew accordingly by 330%, 255% and 142% vs. the October of 2017. Biggest sales reduction in October was experienced in Germany, where sales shrunk by 31%.  All the major markets of the JSC Olainfarm (Russia, Latvia and Belarus) had performed with “plus sign” in October and had a positive impact on total sales results.   During October 2018 JSC Olainfarm sold its products to 33 global markets.  

According to preliminary unconsolidated results, sales of JSC Olainfarm in ten months of 2018 reached 77,41 million euros, which represents an increase by 2% compared to the ten months of 2017.  The biggest sales increase during this period was achieved in Tajikistan, where sales grew by 46%.  Sales to Uzbekistan increased by 45%. Biggest sales reduction was experienced in Russia, where it shrunk by 10%.  The core sales markets of JSC Olainfarm during the ten-month period were Russia, Latvia and Belarus.  In total in ten months of 2018, JSC Olainfarm sold its products to 46 countries worldwide.

Results of The Largest Daughter Companies

Sales of pharmacies of SIA Latvijas Aptieka in October 2018 were 2.16 million euros remaining at the level of the previous year.   Sixty-nine pharmacies were operating during October.  Sales of SIA Silvanols in October 2018 were 0.7 million euros, which represents a growth by 75% compared to the same period of 2017.  Combined sales of SIA Tonus Elast and Elast Medikl in October reached 1 million euros, which represents an increase by 61% vs. to October 2017.  Combined sales of healthcare companies Diamed and Olainmed in October reached 0.25 million euros, but sales of NPK Biotest in October 2018 - 0.20 million euros.

Sales of pharmacies of SIA Latvijas Aptieka in 10 months of 2018 reached 19.4 million euros, which represents an increase by 10% compared to the ten months of 2017.   Sales of SIA Silvanols during the reporting period of 10 month reached 4.8 million euros, which represents an increase by 12%.  Combined sales of SIA Tonus Elast and Elast Medikl in ten months reached 8.1 million euros, that is for 19% more then in the corresponding period of 2017. Combined sales of healthcare companies Diamed and Olainmed in ten-month period reached 2.1 million euros, but sales of NPK Biotest – 1.9 million euros.

According to the estimates of JSC Olainfarm, the unconsolidated turnover of the company in 2018 could reach 96 million euros, while the consolidated turnover - 130 million euros.  According to these preliminary sales numbers, in the ten months of 2018 the company has met 80,6% of the annual target for unconsolidated sales and 78% of the annual target for consolidated sales.

JSC Olainfarm is one of the biggest pharmaceutical companies in Latvia with more than 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