Sales of Olainfarm in 9 Months Increase by 30%

OREANDA-NEWS. According to preliminary consolidated results of JSC Olainfarm for September 2014, sales of the company have reached 8.47 million euro, which represents an increase by 7% compared to the same period of last year. The biggest sales increase was achieved in The Netherlands, where sales grew by 2940%. Sales to Poland grew by 681%; sales to Georgia grew by 358% while sales to Kazakhstan grew by 131%. Major sales markets of JSC Olainfarm in September 2014 were Russia, Latvia, Ukraine and Belarus.

Sales of pharmacy chain of Latvijas aptieka Ltd. fully owned by JSC Olainfarm in September were 1.32 million euro. 55 pharmacies were operating during this period. Sales of Silvanols Ltd. during this period were 0.47 million euro and the company was selling its products in 7 European countries.

During nine months of 2014, according to preliminary consolidated results, sales of JSC Olainfarm were 70.2 million euro, which represents an increase by 32% compared to the same period of 2013. The most rapid sales increase was achieved in Poland, where sales increased by 714%. Sales to The Netherlands grew by 184%, sales to Ukraine by 119%, and sales to Lithuania grew by 94%. Major sales markets of JSC Olainfarm in nine months of 2014 were Russia, Latvia, Ukraine and Belarus.

Sales of pharmacy chain of Latvijas aptieka Ltd. fully owned by JSC Olainfarm in 9 months were 11.1 million euro. Sales of Silvanols Ltd. in nine months were 2.38 million euro and the company was selling its products in 9 European countries.

According to preliminary unconsolidated results for September 2014, sales of JSC Olainfarm during this period were 7.27 million euro, which represents an increase by 10% compared to the same period one year ago. The biggest sales increase was achieved in The Netherlands, where sales grew by 2940%. Sales to Poland grew by 1015%; sales to Georgia grew by 358%, while sales to Kazakhstan grew by 131%. Major sales markets of JSC Olainfarm in September 2014 were Russia, Latvia, Ukraine, Belarus and The Netherlands. During September 2014 products of JSC Olainfarm were sold to 22 countries on 4 continents.

In nine months of 2104, according to preliminary unconsolidated results, the sales of JSC Olainfarm were 61.04 million euro, which represents an increase by 32% compared to the same period one year ago. The biggest sales increase was achieved in Poland, where sales grew by 3186%. Sales to The Netherlands grew by 184%; sales to Ukraine grew by 119%, while sales to Tajikistan grew by 61%. According to preliminary unconsolidated results, the major sales markets of JSC Olainfarm in nine months of 2014 were Russia, Ukraine, Latvia and Belarus. During 9 months of 2014 products of JSC Olainfarm were sold to 32 countries on 5 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 nine months of 2014 JSC Olainfarm has met 76% on annual unconsolidated sales target and 75% 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