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Sales of Olainfarm Continue Growing in February
By: Nasdaq / GlobenewsWire - 15 Mar 2019Back to overview list

Consolidated sales – February and 2 months

Preliminary consolidated results of JSC Olainfarm for February 2019, show that the Group has made sales worth 11.4 million euros, which represents an increase by 7% compared to February of 2018. Preliminary results for two months of this year demonstrate 20% sales increase, as sales during this period reached 23.9 million euros.  Products of Olainfarm Group during this period were sold in 40 countries worldwide.

According to consolidated sales numbers for February, three major sales markets were Russia, with 15% sales increase, Latvia, with a 14% sales increase and Belarus with the sales increase of 3%. Amongst the 10 biggest sales markets, the sales have been shrinking only in Lithuania (by 43%), Kazakhstan (by 37%) and Uzbekistan (by 6%). All other key markets demonstrated sales growth during February, and significant shipments were also made to Japan and Canada.

In two months of 2019, the main sales markets of Olainfarm Group remained the same: Latvia (27% share), Russia, (26% share), Belarus (15%) and Ukraine (10%).   Other major sales markets include Kazakhstan, Uzbekistan, Germany, The Netherlands, Japan, Canada, and Poland.  The most rapid sales growth during this two-month period was achieved in The Netherlands, where sales grew by 190% compared to last year, and Poland, where sale grew by 45%.  Russia has demonstrated a 39% sales increase and significant shipments were also made to Canada.  During this period only sales to Uzbekistan have been shrinking (by 7%).

 February 2019, consolidated sales  Sales, thsnd. EURShare in total salesChanges to February 2018
Russia3 15628%15%
Latvia3 15628%14%
Belarus1 70615%3%
Ukraine1 17310%14%
Total11 440100% 7%

2 months of 2019, consolidated sales Sales, thsnd. EURShare in total salesChanges to 2 months of 2018
Latvia 6 55327%15%
Russia6 211 26%39%
Belarus3 94217%17%
Ukraine2 68111%26%
The Netherlands3531%190%
Other2 44310%-15%
Total 23 859100%20%

Unconsolidated sales – February and 2 months

According to preliminary unconsolidated numbers, sales of JSC Olainfarm in February reached 8.7 million euros, which represents an increase by 23% compared to February of 2018.  Such an increase was mainly influenced by the sales increase in Italy (by 420%), Russia (by 85%) and Uzbekistan (by 23%). Sales shrunk in Kazakhstan (by 44%), Germany (by 29%), Latvia (by 7%) and Belarus (by 5%).

Unconsolidated sales results for two months show that sales of JSC Olainfarm reached 18.6 million euros, which represents an increase by 19% compared to two months of 2018.  During the reporting period, sales have increased in all major sales markets of Olainfarm, except Uzbekistan, where sales shrunk by 7%.  In this two-month period, sales of Olainfarm to Turkmenistan grew by 437%, sales to The Netherlands grew by 190, but sales Russia by 41%.

February 2019, unconsolidated sales Sales, thsnd. EURShare in total salesChanges to February 2018
Russia2 74432%85%
Belarus1 42416%-5%
Latvia1 39716%-7%
Ukraine1 17113%6%
Total8 704100%23%

2 months of 2019. unconsolidated sales Sales, thsnd. EURShare in total salesChanges to 2 months of 2018
Russia5 57730%41%
Belarus3 35318%15%
Latvia3 04416%1%
Ukraine2 67914%26%
The Netherlands3532%190%
Other1 96411%-20%
Total18 638100%19%

Results of Daughter companies – February and 2 months

Sales of pharmacy chain of SIA Latvijas Aptieka in February 2019 exceeded 2.1 million euros, which represents and increase by 27% compared to February of 2018.  Sales of SIA Silvanols in February reached 0.58 million euros, which is comparable to sales made one year ago.  Combined sales of Tonus Elast and Elast Medical in February 2019 were 0.7 million euros, an increase by 8%, medical centers of Olainmed and Diamed made sales worth 0.24 million, while Belarus daughter company NPK Biotest made sales of 0.28 million euros.

In 2 months of 2019, SIA Latvijas Aptieka’s sales were 4.5 million euros, demonstrating 21% increase, sales of SIA Silvanols reached 1.1 million euros (an increase by 6%).  Combined sales of Tonus Elast and Elast Medical also grew by 6% to 1.23 million euros.  Medical centers sold services worth 0.47 million, while NPK Biotest’s sales reached 0.55 million

 February 2019 2 months of 2019
Sales markets of Olainfarm2635
Sales markets of the Group3240
Number of pharmacies69 
Sales of Latvijas Aptieka, thsnd.  2 124 4 469
Sales of Medical centers, thsnd.   238 470

Sales of NPK Biotest, thsnd.   282 547
Sales of Tonus Elast and Elast Medical, thsnd.   704 1 233

Sales of Silvanols, thsnd. 580 1 065

According to the budgets of JSC Olainfarm, unconsolidated sales of the company in 2019 are planned to reach 99 million euros, while consolidated sales are expected at 133 million euros.  According to these preliminary sales figures, in 2 months of 2019, 19% of annual target for unconsolidated sales and 18% of the annual target for consolidated sales are reached.

JSC Olainfarm is one of the biggest pharmaceutical companies in Latvia with more than 45 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 60 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

Information prepared by:
Inga Kr?kle
Member of the Board JSC Olainfarm
Ph.: +371 28698449

Related companies:JSC Olainfarm
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