Sales of Olainfarm in May Grow by 121%

OREANDA-NEWS. According to preliminary consolidated sales figures of JSC Olainfarm for May, sales of the company have reached 10.62 million euro, which is an increase by 121% compared to the same period one year ago. The biggest sales increases have been achieved in Ukraine, where sales grew by 86931%, Uzbekistan by 500%, and Lithuania by 119%. During May 2014, the company has also made significant shipments to the UK and Poland. Biggest sales markets of JSC Olainfarm in May 2014 were Ukraine, Russia, Latvia, UK, Belarus and Uzbekistan.

Sales of pharmacy chain of Latvijas aptieka Ltd., fully owned by JSC Olainfarm in May 2014 were 1.19 million euro. 54 pharmacies were operating during this period. Sales of Silvanolsm Ltd. in this period were 0.14 million euro.

During the first five months of 2014, according to preliminary consolidated results, sales of JSC Olainfarm were 43.38 million euro, which represents an increase by 55% compared to the same period of 2013. The most rapid sales increases have been achieved in Ukraine, where sales have grown by 548%, sales to Lithuania have grown by 140%, Sales to The Netherlands have grown by 139%, sales to Uzbekistan have grown by 113% but sales to the UK have grown by 104%. Significant shipments have also been made to Poland. Major sales markets of JSC Olainfarm during five months of 2014 were Russia, Latvia, Ukraine and Belarus.

During first five months sales of pharmacy chain of Latvijas aptieka Ltd., fully owned by JSC Olainfarm reached 6.29 million euro. Sales of Silvanols Ltd. during the same period were 1.3 million euro.

According to preliminary unconsolidated results of JSC Olainfarm, sales in May reached 9.76 million euro, which represents an increase by 141% compared to the same period one year ago. The biggest sales increases were achieved in Ukraine, where sales grew by 86931% and Uzbekistan, where sales grew by 500%. Major sales markets of JSC Olainfarm in May 2014 were Ukraine, Russia, UK, Latvia, Belarus and Uzbekistan. Significant shipments have also been made to Poland. During May 2014, JSC Olainfarm has made sales to 23 countries in 4 continents.

According to preliminary results, during five months of 2014 unconsolidated sales of JSC Olainfarm reached 38.16 million euro, which represents an increase by 59% compared to the same period one year ago. The most rapid sales increases during the period have been achieved in Ukraine, where sales grew by 548%, sales to the Netherlands grew by 139%, and sales to Uzbekistan grew by 113%, while sales to the UK grew by 104%. Biggest sales markets of JSC Olainfarm in five months of 2014 were Russia, Ukraine, Latvia and Belarus. In five months of 2014 sales have been made to 32 countries in five continents.

Annual General Meeting of shareholders of JSC Olainfarm held on May 29, 2014, approved operating plan of the company, providing that unconsolidated sales of the company will reach 80 million euro, while consolidated sales will reach 93 million euro. According to these preliminary sales figures, in five months of 2014 48% of annual unconsolidated sales target and 47% of annual consolidated sales target have been achieved.

JSC Olainfarm is one of the biggest pharmaceutical companies in Latvia with more than 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 35 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.