Sales of OlainFarm in September Increase by 22%

OREANDA-NEWS. Preliminary consolidated sales results of AS “OlainFarm” for September 2013 show that sales have reached 5.54 million lats (7.88 million euro), which is an increase by 22% compared to the same period one year ago. The biggest sales increases wrer achieved in Spain, where sales increased by 167%, sales to Belarus increased by 71%, while sales in Latvian market increased by 41%. Major sales markets of AS “OlainFarm” in September 2013 were Russia, Latvia, Ukraine and Belarus. Significant shipments to Tajikistan have also been made.

According to preliminary consolidated results, sales of AS “OlainFarm” in nine months of 2013 were 38.02 million lats (54.1 million euro), which represents an increase by 8% compared to the same period of 2012. The most rapid sales increases have been witnessed in The Netherlands, where sales increases by 2685%, as well as Spain (by 202%) and Belarus, where sales increased by 62%. Major sales markets of AS “OlainFarm” in nine months of 2013 were Russia, Latvia, Ukraine, Belarus and Kazakhstan.

Sales of Pharmacy chain SIA “Latvijas aptieka” owned by AS “OlainFarm” were record-high in September as they reached 0.83 million lats (1.18 million euro). 49 pharmacies were operating throughout September. In nine months of 2013 sales of SIA “Latvijas aptieka” were 6.89 million lats. Sales of SIA “SIlvanols” in September 2013 were 0.19 million lats (0.27 million euro).

According to preliminary unconsolidated results sales of AS “OlainFarm” in September 2013 were 4.87 million lats (6.93 million euro), which represents an increase by 22% compared to the respective period of 2012. The biggest sales increases were achieved in Spain, where sales grew by 167%, sales in Latvia grew by 110%, and sales to Belarus by 71%. 0,09 million lats (0.13 million euro) worth of products have also been sold to Tajikistan. According to unconsolidated result the major sales markets of AS “OlainFarm” in September 2013 were Russia, Ukraine, Latvia, Belarus and Spain. Suring September 2013 products of AS “OlainFarm” were sold to 26 countries on 4 continents.

In nine months of 2013 according to preliminary unconsolidated results sales of AS “OlainFarm” were 32.71 million lats (46.54 million euro), which is an increase by 8% compared to the same period of 2012. The most rapid sales increases during this period have been achieved in The Netherlands and Spain, where sales have grown by 2685% and 202% respectively. Relatively high rate of increase during this period has also been observed in Latvia (by 82%) and Belarus (by 62%). According to preliminary unconsolidated results major sales markets of AS “OlainFarm” in nine months of 2013 were Russia, Latvia, Ukraine, Belarus, Kazakhstan and the UK. Products to 35 countries have been sold during nine months of 2013.

On April 12, 2013 Management Board of AS “OlainFarm” approved an operating plan for the company, providing that unconsolidated sales of the company will reach 50 million lats (71.1 million euro), while consolidated sales of the company will reach 59 million lats (83.9 million euro). According to these preliminary sales results, during nine months of 2013 65% of unconsolidated sales target and 64% of consolidated sales target have been achieved.

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.