Sales of Olainfarm in Eleven Months Increase by 17%

OREANDA-NEWS. According to preliminary consolidated results of JSC Olainfarm for November of 2014, company's sales have reached 6.75 million euro, which represents a reduction by 27% compared to the same period one year ago. The biggest sales increases were achieved in The Netherlands, where sales grew by 227%, and sales to Lithuania have grown by 94%, while sales to Uzbekistan have grown by 51%. The major sales markets of JSC Olainfarm in November 2014 were Russia, Latvia, The Netherlands and Belarus.

Sales of pharmacy chain of Latvijas Aptieka Ltd., fully owned by JSC Olainfarm during this period were 1.3 million euro, and the chain consisted of 57 operating pharmacies. Sales of Silvanols Ltd. in this period were 0.29 million euro, and the sales were made to four European companies.

According to preliminary consolidated figures, during eleven months of 2014, JSC Olainfarm made sales worth 84.77 million euro, which represents an increase by 17% compared to the same period of 2013. The most rapid sales increases during this period were achieved in Poland, where sales grew by 378%, sales to The Netherlands grew by 170% and sales to Lithuania grew by 56%. The major sales markets of JSC Olainfarm during 11 months of 2014 were Russia, Latvia, Ukraine and Belarus.

Sales of pharmacy chain of Latvijas Aptieka Ltd., fully owned by JSC Olainfarm during 11 months were 13.8 million euro. Sales of Silvanols Ltd. in 11 months period were 3.07 million euro, and the sales were made to ten European companies.

According to preliminary unconsolidated results of JSC Olainfarm for November of 2014, company's sales have reached 5.79 million euro, which represents a reduction by 13% compared to the same period one year ago. The biggest sales increases were achieved in The Netherlands, where sales grew by 227%, and sales to Lithuania have grown by 156%, while sales to Uzbekistan have grown by 51%. Sales to Latvia have grown by 36%. The major sales markets of JSC Olainfarm in November 2014 were Russia, Latvia, The Netherlands and Belarus. In November 2014 JSC Olainfarm made sales to 19 countries on 3 continents

According to preliminary unconsolidated figures, during eleven months of 2014, JSC Olainfarm made sales worth 73.58 million euro, which represents an increase by 21% compared to the same period of 2013. The most rapid sales increases during this period were achieved in Poland, where sales grew by 1013%, sales to The Netherlands grew by 170% and sales to Tajikistan grew by 58%. Sales to Latvia grew by 34% According to preliminary unconsolidated sales figures, the major markets of JSC Olainfarm during 11 months of 2014 were Russia, Ukraine, Latvia and Belarus. During eleven months of 2014 the sales were made to 35 countries on five continents.

On April 29, 2014 an AGM of JSC Olainfarm approved an operating plan of the company, providing that the unconsolidated sales target for 2014 is 80 million euro, while consolidated sales target for 2014 is 93 million euro. According to these preliminary sales results, in eleven months of 2014 JSC Olainfarm has met 92% on annual unconsolidated sales target and 91% of annual consolidated sales target.

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.