News

Olainfarm Starts the Year With 40% Sales Increase

on February 18, 2019

Consolidated sales – January
Preliminary consolidated results of JSC Olainfarm for January 2019 show that sales of the Group have reached 12.4 million euros, which represents an increase by 35% compared to sales made in January 2018.

According to consolidated sales figures of January three major sales markets of the Group were Latvia, where sales grew by 16%, Russia, where during the same period sales have grown by 78% and Belarus with 32% sales increase. From 10 biggest sales markets the sales have shrunk only in Uzbekistan (by 8%). All other of top 10 markets have demonstrated sales increases, the biggest ones coming from Turkmenistan (437%), Moldova (308%) and The Netherlands (246%).

 January 2019, consolidated sales

Sales, Thsnd. EUR

Share in total sales

Changes to January 2018

Latvia

3 397

27%

16%

Russia

3 055

25%

78%

Belarus

2 236

18%

32%

Ukraine

1 508

12%

36%

The Netherlands

336

3%

246%

Turkmenistan

251

2%

437%

Germany

244

2%

17%

Poland

219

2%

27%

Uzbekistan

157

1%

-8%

Moldova

127

1%

308%

Other

889

7%

-13%

Total

12 419

100%

35%

 

Unconsolidated sales – January
According to preliminary unconsolidated sales figures of JSC Olainfarm for January, the company made sales worth 9.9 million euros, which represents an increase by 40% compared to the same period of 2018. The main growth drivers were sales increases in Turkmenistan (by 437%), The Netherlands (by 246%) and Russia (by 91%).  The only country with some sales reduction was Uzbekistan (-8%)

January 2019, unconsolidated sales

Sales, Thsnd. EUR

Share in total sales

Changes to January 2018

Russia

2 833

29%

91%

Belarus

1 929

19%

29%

Latvia

1 647

17%

10%

Ukraine

1 508

15%

36%

The Netherlands

336

3%

246%

Turkmenistan

251

3%

437%

Germany

244

2%

18%

Poland

219

2%

65%

Uzbekistan

157

2%

-8%

Spain

114

1%

NA

Other

695

7%

-18%       

Total

9 934

100%

40%

 

Performance of Daughter Companies in January
Sales of Latvijas aptieka Ltd. in January 2019 reached 2.3 million euros, which represents an increase by 16% compared to January of 2018.  Seventy pharmacies were operating during this period. Sales of Silvanols Ltd. during January reached 0.48 million, which also represents 16% increase compared to January 2018. Sales of elastic medical companies Tonus Elast and Elast Medical reached 0.53 million euros, sales of health care providers Olainmed and Diamed reached 0.23 million euros, but sales of Belarus based NPK Biotest were as high as 0.27 million euros.

 

January 2019

Sales markets of Olainfarm

28

Sales markets of the Group

32

Number of Latvijas aptieka pharmacies

70

Sales of Latvijas aptieka thsnd.

2 345

Sales of Olainmed and Diamed thsnd.

232

Sales of NPK Biotest thsnd.

265

Sales of Tonus Elast and Elast Medical, thsnd.

529

Sales of Silvanols, thsnd.

 485

 

JSC Olainfarm is one of the biggest pharmaceutical companies in Latvia with 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 60 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

 

Information prepared by:
Inga Krūkle
Member of the Board JSC Olainfarm
Ph.: +371 28698449
inga.krukle@olainfarm.com

Olainfarm Starts the Year With 40% Sales Increase