OREANDA-NEWS. January 17, 2013. Preliminary consolidated results of AS “Olainfarm” for December 2012 show that sales have increased by 94% compared to the same period one year ago and reached 5.56 million lats (7.91 million euros).

Major sales increase was achieved in India, where sales grew by 1094% and Ukraine, where sales grew by 499%. Major sales markets of AS “Olainfarm” in December 2012 were Ukraine, Russia, Latvia and Belarus. In total target for unconsolidated sales in 2012 has been outperformed by 15.8%.

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 in December too. 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 1.5 million lats were sold to Ukraine during December. In total, according to company’s estimates, during the last three months products worth approximately 3.7 million lats (5.2 million euros), were shipped to Ukraine in advance.
 
Last year preliminary consolidated sales of AS “Olainfarm” were 52.62 million lats (74.87 million euro), which represents an increase by 43% compared to 2011. The most rapid sales increases were achieved in Taiwan, where sales grew 11 times, sales to Latvia grew nearly fourfold, sales to the UK grew by more than 60%, sales to Ukraine by 44% and sales to Russia grew by 31%.  Major sales markets of AS “Olainfarm” in 2012 were Russia, Ukraine, Latvia, Belarus, Kazakhstan and the UK.

Sales of pharmacies owned by AS “Olainfarm” in December of 2012 were 0.68 million lats (0.97 million euros).  During the entire 2012 pharmacies owned by AS “Olainfarm” made sales of 7.16 million lats (10.19 million euros).
 
According to unconsolidated preliminary results the sales of AS “Olainfarm” in December 2012 were 5.03 million lats (7.16 million euros), which represents an increase by 89% compared to similar period of 2011. The most rapid sales increases were achieved in India, where sales grew by 1094%, Ukraine, where sales grew by 499%, Belarus, where sales grew by 158% and Latvia, where sales grew by 123%. According to unconsolidated figures, the major sales markets of AS “Olainfarm” in December 2012 were Ukraine, Russia, Latvia and Belarus.

Preliminary unconsolidated sales of AS “Olainfarm” in 2012 is 46.31 million lats (65.9 million euro), which represents an increase by 28%, compared to 2011. Last year the most rapid sales increases were achieved in Taiwan, where sales grew 11.5 times and the UK, where sales increased by 61%.   According to preliminary unconsolidated results major sales markets of AS “Olainfarm” in 2012 were Russia, Ukraine, Latvia, Belarus, Kazakhstan and the UK.

Sales forecasts of AS „Olainfarm” for 2012.gada provided 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 2012, target of unconsolidated sales has been outperformed by more than 6 million lats (8.5 million euros), while target for consolidated sales has been outperformed by 4.62 million lats (6.6 million euro) or 9.6%
 
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.