Sales of Olainfarm Grow by 27% in June

on July 14, 2011

Preliminary sales figures of JSC Olainfarm for June 2011 show that sales of the company in June have increased by 27%, compared to this period last year and totalled 3.15 million lats (4.48 million euros). The most rapid sales growth has been experienced in Spain, where sales grew 111 times, in Uzbekistan, where sales grew by 233% and in Russia where sales in up by 98%. The major sales markets of JSC Olainfarm in June 2011 were Russia, Ukraine, The Netherlands, Kazakhstan and Latvia.

June 2011 % of total sales % change to June 2010
Russia 49% 98%
Ukraine 14% 19%
The Netherlands 9% NA
Kazakhstan 7% -29%
Latvia 6% 5%
Belarus 4% -60%
Uzbekistan 3% 233%
Georgia 2% -73%
Switzerland 1% NA
Spain 1% 11100%
Other 3% -57%
Total 100% 27%


Preliminary sales of JSC Olainfarm for six months of 2011 are 17.97 million lats (25.57 million euros), which represents an increase by 43% compared to first six months of 2010. During the first six months of this year the biggest growth was seen in Canada, where sales have increased 36 fold, The Netherlands, where sales have grown 9 times, Uzbekistan by 134%, Ukraine by 118%, UK by 100% and Latvia by 49. The main sales markets of JSC Olainfarm during first six months of 2011 are Russia, Ukraine, Belarus, Latvia, Kazakhstan and the UK.


6 months of 2011 % of total sales % change to six months of 2010
Russia 39% 22%
Ukraine 23% 118%
Belarus 9% 14%
Latvia 6% 49%
Kazakhstan 5% 14%
UK 4% 100%
Uzbekistan 2% 134%
The Netherlands 2% 807%
Canada 1% 3529%
Lithuania 1% 10%
Other 8% 15%
Total 100% 43%


Operating plan and budget of JSC Olainfarm for 2011 provides that company plans the sales of 29.4 million lats (41.8 million euros) and the net profit of 5.1 million lats (7.3 million Euro). According to these preliminary figures 61% of sales planned for the entire year were made during the first six months of 2011.

Few shipments made to Ukraine were mistakenly not included in the 6 months sales summary published earlier and that influenced the total sales figures for 6 months, overall sales increase figures, sales increase to Ukraine, Ukraine’s share in total sales and the percentage by which the annual target sales are met.


JSC Olainfarm is one of the biggest pharmaceutical companies in Latvia with more than 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 35 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
JSC Olainfarm
Tel: +371 6 7013 717
Cell: +371 2 6448 873

Sales of Olainfarm Grow by 27% in June