AS “Olainfarm” receives „Baltic Corporate Excellence Award”

7/10/2012 10:00 AM EST

Olainfarm
Company Announcement

AS “Olainfarm” receives „Baltic Corporate Excellence Award”

AS “Olainfarm” was named the best Latvian company listed on Baltic stock
exchanges and was awarded „Baltic Corporate Excellence Award 2012”.  AS
“Olainfarm” this year was named second best company in the entire Baltics. 
During the last three years AS “Olainfarm” has demonstrated a very impressive
improvement in valuations for Baltic Corporate Excellence Awards”, it has
climbed from position 19 in the Baltics in 2010, to position 8 in 2011 to the
second place this year. 

Olaine, July 10, 2012, 2012-07-10 16:00 CEST (GLOBE NEWSWIRE) -- Annual „Baltic
Corporate Excellence Award” evaluation is conducted by financial analysts from
„CE Services”, in order to identify which Baltic listed companies can both,
maintain good financial results and good reputation and investor relations in a
longer period of time. The award is also aimed to motivate other listed
companies to improve their quality in terms of financial health, corporate
governance and to strengthen their business model. 

 Experts of “CE Services” have pointed out that AS “Olainfarm” has managed to
improve its financial results mainly because of increased sales and reduction
of fixed costs. Product portfolio of the company is well diversified (10
bestselling products make up 87% of total sales). Experts also have emphasized
that, since AS “Olainfarm” is vertically integrated and has a good
infrastructure, it is very flexible with respect to its production capacity. 
Significant investments in marketing were started several years ago, that have
allowed AS “Olainfarm” to increase its sales and market share in its major
markets. 

 Jurry of “Baltic Corporate Excellence Award 2012” consists from
representatives of Swiss based “CE Asset Management AG”, Latvian “CE Services”
and BA School of Business and Finance. 50% of the score came from quantitative
factors, including strength of the balance sheet, profitability, efficiency of
capital and operations, currently and historically (last 5 years). The other
50% came from a deeper analysis of the company. It covered business model of
the company, management structure, financial management and overall conditions
of the company’s market. 

Lithuanian telecommunications company „Teo LT” was named best in Baltics and in
Lithuania, “Harju Elekter” was named the best listed company of Estonia. 



A/s Olainfarm is one of the biggest pharmaceutical companies in Latvia with
nearly 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. 


         Information prepared by:
         Salvis Lapins
         Member of the Board
         A/s „Olainfarm”
         Tel: +371 6 7013 717
         Cell: +371 2 6448 873
         E-mail: