March 19, 2018
Sales of Olainfarm in February Increase by 33%
Preliminary consolidated sales results of JSC Olainfarm for February 2018 show that sales have reached 10.69 million euros, which represents an increase by 33% compared to February 2017. The biggest sales increase was achieved in Japan, where sales grew by 6430%. Sales to Lithuania grew by 161%, sales to Georgia grew by 155%, sales to Kazakhstan grew by 118%, but sales to Belarus increased by 92%. During February 2018, the group also made significant shipments to Uzbekistan and Tajikistan. Major sales markets of Olainfarm group in February 2018 were Latvia, Russia, Belarus and Ukraine. Products of the group were sold to 35 countries.
| February 2018, consolidated sales | Sales, thsnd. EUR | Changes to February 2017 | Share in total sales |
| Latvia | 2 773 | 11% | 26% |
| Russia | 2 753 | 5% | 26% |
| Belarus | 1 661 | 92% | 16% |
| Ukraine | 1 024 | -3% | 10% |
| Japan | 315 | 6430% | 3% |
| Kazakhstan | 300 | 118% | 3% |
| Lithuania | 229 | 161% | 2% |
| Uzbekistan | 222 | NA | 2% |
| Georgia | 165 | 155% | 2% |
| Tajikistan | 145 | NA | 1% |
| Other | 1 099 | 62% | 10% |
| Total | 10 686 | 33% | 100% |
Sales numbers of daughter companies of JSC Olainfarm that provide significant impact on consolidated results show that sales of Latvijas aptieka in February 2018 reached 1.68 million euros, which is comparable to the sales volume demonstrated in February 2017. Sixty-eight pharmacies were operating during February. Sales of Silvanols during this period were 0.59 million euros, which represents an increase by 4%. Combined sales of Tonus Elast and its Russian based distributor Elast Medikl reached 0.65 million euros. Combined sales of medical companies Klīnika DiaMed and OlainMed reached 0.2 million euros, while sales of Belarus based company NPK Biotest also reached 0.2 million euros.
| February 2018 | |
| Sales markets of Olainfarm | 28 |
| Sales markets of the Group | 35 |
| Number of pharmacies of Latvijas aptieka | 68 |
| Sales of Latvijas aptieka | € 1 675 594 |
| Combined sales of OlainMed and Klīnika DiaMed | € 199 000 |
| Sales of NPK Biotest | € 199 407 |
| Combined sales of Tonus Elast and Elast Medikl | € 647 265 |
| Sales of Silvanols | € 585 302 |
According to unconsolidated preliminary results, sales of JSC Olainfarm in February 2018 reached 8.62 million euros, which represents an increase by 44% compared to the same period of 2017. Biggest sales increase was achieved in Japan, where sales grew by 6430%. Sales to Kazakhstan grew by 257%, but sales to Lithuania grew by 240%. During February 2018, JSC Olainfarm also made significant shipments to Uzbekistan and Tajikistan. Major sales markets during February were Russia, Latvia, Belarus and Ukraine. In total products of JSC Olainfarm were sold to 28 countries.
| February 2018, unconsolidated sales | Sales, thsnd., EUR | Changes to February 2017 | Share in total sales |
| Russia | 2 459 | 8% | 29% |
| Latvia | 1 526 | 26% | 18% |
| Belarus | 1 427 | 67% | 17% |
| Ukraine | 1 024 | -3% | 12% |
| Japan | 315 | 6430% | 4% |
| Kazakhstan | 231 | 257% | 3% |
| Lithuania | 225 | 240% | 3% |
| Uzbekistan | 222 | NA | 3% |
| Tajikistan | 145 | NA | 2% |
| Germany | 143 | 67% | 2% |
| Other | 899 | 149% | 10% |
| Total | 8 616 | 44% | 100% |
During the first two months of 2018, the consolidated sales of the group reached 19.88 million euros, which represents an increase by 16% compared to consolidated sales of two months of 2017. The biggest sales increases were achieved in Uzbekistan, where sales grew by 757%, in Japan sales grew by 332%, and in Kazakhstan, where sales grew by 124%. The major sales markets of JSC Olainfarm in two months of 2018 were Latvia, Russia, Belarus and Ukraine, products were sold in 32 countries.
| 2 months of 2018, consolidated sales | Sales, thsnd. EUR | Changes to 2 months of 2017 | Share in total sales |
| Latvia | 5 695 | 15% | 29% |
| Russia | 4 469 | -10% | 22% |
| Belarus | 3 357 | 35% | 17% |
| Ukraine | 2 132 | 56% | 11% |
| Kazakhstan | 549 | 124% | 3% |
| Uzbekistan | 393 | 757% | 2% |
| Lithuania | 374 | 47% | 2% |
| Germany | 353 | 23% | 2% |
| Japan | 315 | 332% | 2% |
| Tajikistan | 208 | NA | 1% |
| Other | 2 032 | -17% | 10% |
| Total | 19 877 | 16% | 100% |
During the first two months of 2018, sales of Latvijas aptieka reached 3.7 million euros, which represents an increase by 9% compared to sales during the same period of 2017. Sales of Silvanols during two months were 1 million euros, which represents a reduction by 6% compared to two months of 2017. Combined sales of Tonus Elast and its Russian based distributor Elast Medikl in two months of 2018 reached 1.16 million euros. Combined sales of medical companies Klīnika DiaMed and OlainMed in two months of 2018 reached 0.4 million euros, while sales of Belarus based company NPK Biotest also reached 0.4 million euros.
| 2 months of 2018 | |
| Sales markets of Olainfarm | 32 |
| Sales markets of the Group | 39 |
| Sales of Latvijas aptieka | € 3 702 114 |
| Combined sales of OlainMed and Klīnika DiaMed | € 396 000 |
| Sales of NPK Biotest | € 395 435 |
| Combined sales of Tonus Elast and Elast Medikl | € 1 162 517 |
| Sales of Silvanols | € 1 003 518 |
According to unconsolidated preliminary results, sales of JSC Olainfarm in two months of 2018 were 15.72 million euros, which represents an increase by 15% compared to the same period of 2017. The biggest sales increases were achieved in Uzbekistan, where sales grew by 757%, in Japan, where sales grew by 332%, and in Kazakhstan, where sales grew by 211%. Biggest sales markets of JSC Olainfarm in the first two months of 2018 were Russia, Latvia, Belarus and Ukraine. In total in two months of 2018, JSC Olainfarm sold its products to 32 countries.
| 2 months of 2018, unconsolidated sales | Sales, thsnd. EUR | Changes to 2 months of 2017 | Share in total sales |
| Russia | 3 946 | -15% | 25% |
| Latvia | 3 024 | 21% | 19% |
| Belarus | 2 927 | 19% | 19% |
| Ukraine | 2 132 | 56% | 14% |
| Kazakhstan | 464 | 211% | 3% |
| Uzbekistan | 393 | 757% | 3% |
| Lithuania | 361 | 74% | 2% |
| Germany | 350 | 23% | 2% |
| Japan | 315 | 332% | 2% |
| Tajikistan | 208 | NA | 1% |
| Other | 1 595 | -21% | 10% |
| Total | 15 715 | 15% | 100% |
According to preliminary estimates, unconsolidated sales of JSC Olainfarm in 2018 might reach 96 million euros, while consolidated sales might reach 130 million euros. According to the preliminary sales numbers published here, during two months of 2018, the company has already made 16% of its unconsolidated sales estimate and 15% of its annual consolidated sales estimate.
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 50 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.
Information prepared by:
Salvis Lapins
JSC Olainfarm
Member of the Management Board
Rupnicu iela 5, Olaine, Latvia, LV 2114
Phone: +371 6 7013 717
Fax: +371 6 7013 777
E-mail: Salvis.Lapins@olainfarm.lv