Triumph of Olainfarm continues: December sales increase by 94%
1/15/2013 9:30 AM EST
Olainfarm
Company Announcement
Triumph of Olainfarm continues: December sales increase by 94%
Preliminary consolidated results of AS “Olainfarm” for December 2012 show that
sales have increased by 94% compared to the same period one year ago and
reached 5.56 million lats (7.91 million euros). Major sales increase was
achieved in India, where sales grew by 1094% and Ukraine, where sales grew by
499%. Major sales markets of AS “Olainfarm” in December 2012 were Ukraine,
Russia, Latvia and Belarus. In total target for unconsolidated sales in 2012
has been outperformed by 15.8%.
Olaine, 2013-01-15 15:30 CET (GLOBE NEWSWIRE) --
December 2012, consolidated Share in total sales Changes to December
results 2011
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Ukraine 37% 499%
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Russia 30% 38%
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Latvia 15% 143%
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Belarus 5% 158%
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Kazakhstan 4% 51%
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The Netherlands 2% NA
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India 1% 1094%
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Moldova 1% 106%
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Lithuania 1% -60%
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Tajikistan 1% NA
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Other 3% -67%
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Total 100% 94%
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Because of the possible delay with renewal of registration documents, there is
a risk that at the beginning of 2013, imports of several products to Ukraine
will be temporarily limited. For this reason, during extra shipments to Ukraine
were made in December too. It is very difficult to identify the precise value
of extra shipments, however, it has been preliminary estimated that in addition
to normal demand, products worth 1.5 million lats were sold to Ukraine during
December. In total, according to company’s estimates, during the last three
months products worth approximately 3.7 million lats (5.2 million euros), were
shipped to Ukraine in advance.
Last year preliminary consolidated sales of AS “Olainfarm” were 52.62 million
lats (74.87 million euro), which represents an increase by 43% compared to
2011. The most rapid sales increases were achieved in Taiwan, where sales grew
11 times, sales to Latvia grew nearly fourfold, sales to the UK grew by more
than 60%, sales to Ukraine by 44% and sales to Russia grew by 31%. Major sales
markets of AS “Olainfarm” in 2012 were Russia, Ukraine, Latvia, Belarus,
Kazakhstan and the UK.
2012, consolidated results Share in total sales Changes to 2011
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Russia 35% 31%
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Ukraine 26% 44%
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Latvia 18% 262%
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Belarus 5% -10%
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Kazakhstan 4% 10%
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UK 4% 61%
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Uzbekistan 1% 22%
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Taiwan 1% 1051%
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Lithuania 1% -17%
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Georgia 1% -15%
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Other 6% -10%
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Total 100% 43%
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Sales of pharmacies owned by AS “Olainfarm” in December of 2012 were 0.68
million lats (0.97 million euros). During the entire 2012 pharmacies owned by
AS “Olainfarm” made sales of 7.16 million lats (10.19 million euros).
According to unconsolidated preliminary results the sales of AS “Olainfarm” in
December 2012 were 5.03 million lats (7.16 million euros), which represents an
increase by 89% compared to similar period of 2011. The most rapid sales
increases were achieved in India, where sales grew by 1094%, Ukraine, where
sales grew by 499%, Belarus, where sales grew by 158% and Latvia, where sales
grew by 123%. According to unconsolidated figures, the major sales markets of
AS “Olainfarm” in December 2012 were Ukraine, Russia, Latvia and Belarus.
December 2012, unconsolidated Share in total Changes to December
results sales 2011
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Ukraine 41% 499%
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Russia 33% 38%
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Latvia 6% 123%
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Belarus 5% 158%
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Kazakhstan 4% 51%
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The Netherlands 2% NA
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India 1% 1094%
--------------------------------------------------------------------------------
Moldova 1% 106%
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Lithuania 1% -60%
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Tajikistan 1% NA
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Other 3% -67%
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Total 100% 89%
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Preliminary unconsolidated sales of AS “Olainfarm” in 2012 is 46.31 million
lats (65.9 million euro), which represents an increase by 28%, compared to
2011. Last year the most rapid sales increases were achieved in Taiwan, where
sales grew 11.5 times and the UK, where sales increased by 61%. According to
preliminary unconsolidated results major sales markets of AS “Olainfarm” in
2012 were Russia, Ukraine, Latvia, Belarus, Kazakhstan and the UK.
2012, consolidated results Share in total sales Changes to 2011
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Russia 39% 31%
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Ukraine 29% 44%
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Latvia 7% 40%
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Belarus 6% -10%
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Kazakhstan 4% 10%
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UK 4% 61%
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Uzbekistan 2% 22%
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Taiwan 1% 1051%
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Lithuania 1% -17%
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Georgia 1% -15%
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Other 7% -10%
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Total 100% 28%
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Sales forecasts of AS „Olainfarm” for 2012.gada provided that unconsolidated
sales in 2012 will reach 40 million lats (56.91 million euro), but consolidated
sales will reach 48 million lats (68.3 million euro). According to these
preliminary unconsolidated sale figures, during 2012, target of unconsolidated
sales has been outperformed by more than 6 million lats (8.5 million euros),
while target for consolidated sales has been outperformed by 4.62 million lats
(6.6 million euro) or 9.6%
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: