Sales of Olainfarm Increase by 55% in January
2/15/2013 9:59 AM EST
Olainfarm
Company Announcement
Sales of Olainfarm Increase by 55% in January
Preliminary consolidated results of AS “Olainfarm” for January 2013 show that
sales have increased by 55% compared to the same period of last year and have
reached 5.47 million lats (7.78 million euros). Major sales increases were
achieved in Belarus, where sales grew by 110%, Russia (by 105%) and Latvia,
where sales grew by 48%. Biggest sales markets of AS “Olainfarm” in January
2013 were Russia, Latvia and Ukraine
Olaine, 2013-02-15 15:59 CET (GLOBE NEWSWIRE) --
January 2013, consolidated Share in total sales Changes to January 2012
results
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Russia 50% 105%
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Latvia 18% 48%
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Ukraine 14% -22%
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Belarus 7% 110%
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UK 5% NA
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Uzbekistan 2% NA
--------------------------------------------------------------------------------
Czech Republic 1% NA
--------------------------------------------------------------------------------
Italy <1% NA
--------------------------------------------------------------------------------
Kazakhstan <1% NA
--------------------------------------------------------------------------------
Moldova <1% NA
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Other 1% -79%
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Total 100% 55%
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Sales of pharmacies owned by AS “Olainfarm” in January 2013 was 0.74 million
lats (1.05 million euros).
According to preliminary unconsolidated results of AS “Olainfarm”, the sales
during January 2013 were 4.92 million lats (7 million euros), which represents
an increase by 63% compared to similar period a year ago. Most rapid sales
increases were achieved in Latvia (by 165%), Belarus (by 110%) and Russia,
where sales grew by 105%. According to unconsolidated results the main sales
markets of AS “Olainfarm” in January 2013 were Russia, Ukraine, Latvia and
Belarus.
January 2013, unconsolidated Share in total sales Changes to January
results 2012
--------------------------------------------------------------------------------
Russia 55% 105%
--------------------------------------------------------------------------------
Ukraine 16% -22%
--------------------------------------------------------------------------------
Latvia 9% 165%
--------------------------------------------------------------------------------
Belarus 8% 110%
--------------------------------------------------------------------------------
UK 6% NA
--------------------------------------------------------------------------------
Uzbekistan 3% NA
--------------------------------------------------------------------------------
Czech Republic 1% NA
--------------------------------------------------------------------------------
Italy <1% NA
--------------------------------------------------------------------------------
Kazakhstan <1% NA
--------------------------------------------------------------------------------
Moldova <1% NA
--------------------------------------------------------------------------------
Other 1% -79%
--------------------------------------------------------------------------------
Total 100% 63%
--------------------------------------------------------------------------------
Although no sales targets for 2013 are formally approved yet, for planning
purposes management is using the target of 50 million lats (71.1 million euros)
for unconsolidated sales and 57 million lats (81.1 million euros) for
consolidated sales. According to these preliminary results, during the month of
January the company has made 9.8% of annual unconsolidated sales target and
9.6% of annual consolidated sales target.
A/s Olainfarm is one of the biggest pharmaceutical companies in Latvia with 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
e-mail: