News

Sales of Olainfarm Group in 2018 Exceed 123 Million

on January 16, 2019

Consolidated sales: December and twelve months

Preliminary consolidated results of AS Olainfarm for December 2018 show that the sales of the Group have reached 11.1 million euros, which represents an increase by 10% compared to December of 2017.  According to preliminary information, sales in 2018 reached 123.6 million euros and demonstrated 8% growth compared to preliminary results of 2017, while compared to consolidated sales according to Annual report, they demonstrated 1% increase.  During 2018, products of Olainfarm group were sold to 54 countries worldwide.

According to consolidated sales figures for December three major sales markets of the Group are Russia, where sales have dropped by 7% compared to December of 2017, Latvia, where during the same period sales have increased by 19%, and Ukraine with 37% sales drop.  Uzbekistan is the only other country from major sales markets, experiencing minor (-2%) sales drop.  All other major markets demonstrated sales increase.  The biggest increases were achieved in Japan (by 5568%), Poland (300%) and Kazakhstan (116%). 

Major sales markets of Olainfarm Group have remained unchanged in 2018, as they include: Russia (with 31% share) Latvia (28%), Belarus (11%) and Ukraine (9%). Kazakhstan, Uzbekistan, Germany, Lithuania, Poland, and Tajikistan are also among the top 10 sales markets.  The biggest sales increases have been achieved in Belarus, where sales have increased by 54%, compared to 2017, and Tajikistan, where sales have increased by 32%.  Sales to Poland and Uzbekistan have increased by 28% each.  Russia is the only top 10 market of the Group, where sales have decreased (by 5%) during the reporting period.

 December 2018, consolidated sales

 Sales, thsnd. EUR

Share in total sales

Changes to December 2017

Russia

4 150

37%

-7%

Latvia

3 203

29%

19%

Ukraine

532

5%

-37%

Belarus

428

4%

39%

Kazakhstan

416

4%

116%

Japan

411

4%

5568%

Poland

376

3%

300%

Georgia

207

2%

67%

Kyrgyzstan

184

2%

64%

Uzbekistan

172

2%

-2%

Other

1 009

9%

-6%

Total

11 090

100%

10%

 

12 months of 2018, consolidated sales

 Sales, thsnd. EUR

Share in total sales

Changes to 12 months of 2017

Russia

 37 866

31%

-5%

Latvia

28 492

28%

23%

Belarus

13 764

11%

54%

Ukraine

11 172

9%

2%

Kazakhstan

3 486

3%

12%

Uzbekistan

2 391

2%

28%

Germany

1 883

2%

10%

Lithuania

1 814

1%

20%

Poland

1 762

1%

28%

Tajikistan

1 413

1%

32%

Other

13 064

11%

-14%

Total

123 645

100%

8%

Standalone sales: December and twelve months

According to preliminary unconsolidated figures, sales of AS Olainfarm in December reached 8.3 million euros, which represents an increase by 3% compared to the same period of last year.  The main factors influencing such an increase are sales increases in Japan (by 5568%), Poland (by 298%) and Kazakhstan (by 180%). Some sales reduction took place in Ukraine (by 38%), Belarus (by 19%), Russia (by 9%) and in Uzbekistan (by 2%).

Unconsolidated results of twelve months show that sales of AS Olainfarm reached 93.7 million euros, which represents an increase by 2% compared to 2017. During this period sales increased in all major markets of the company, except Russia, where they shrunk by 10%.  During this twelve-month period the sales of AS Olainfarm increased in Tajikistan by 35%, in Lithuania by 30% and in Poland and in Uzbekistan by 28% each.

December 2018, unconsolidated sales

  Sales, thsnd. EUR

Share in total sales

Changes to December, 2017

Russia

3 794

45%

-9%

Latvia

1 512

18%

7%

Ukraine

470

6%

-38%

Japan

411

5%

5568%

Poland

372

4%

298%

Kazakhstan

313

4%

180%

Belarus

198

2%

-19%

Uzbekistan

172

2%

-2%

Kyrgyzstan

148

2%

49%

Georgia

136

2%

177%

Other

820

10%

-13%       

Total

8 347

100%

3%

 

Twelve months of 2018, unconsolidated sales

   Sales, thsnd. EUR

Share in total sales

Changes to 12 months of 2017

Russia

32 919

35%

-10%

Latvia

17 187

18%

16%

Belarus

11 167

12%

27%

Ukraine

10 900

12%

2%

Uzbekistan

2 391

2%

28%

Kazakhstan

2 303

2%

10%

Germany

1 865

2%

12%

Lithuania

1 671

2%

30%

Poland

1 415

2%

28%

Tajikistan

1 365

1%

35%

Other

10 565

11%

-14%

Total

93 747

100%

2%

 

Performance of daughter companies: December and twelve months

Pharmacies of SIA Latvijas Aptieka owned by AS Olainfarm made sales worth 2.1 million euros in December, demonstrating 6% increase compared to December of 2017. Sixty-nine pharmacies were operating during December. Sales of SIA Silvanols in December reached 0.56 million euros, representing 39% increase compared to December 2017.  Combined sales of Tonus Elast and Elast Medical during this period were 0.86 million euros.  Sales of medical centers of Olainmed and Diamed reached 0.2 million, while sales of Belarus based NKP Biotest reached 0.23 million. 

Sales of SIA Latvijas Aptieka in 2018 reached 23.5 million euros, representing 9% increase compared to 2017.  Sales of SIA Silvanols during the reporting period reached 5.9 million euros, which represents an increase by 14% compared to previous year.  Combined sales of Tonus Elast and Elast Medical reached 10.1 million euros, sales of medical centers reached 2.6 million, while sales of NPK Biotest reached 2.4 million euros.

 

December 2018

12 months of 2018

Sales countries of Olainfarm

29

48

Sales countries of the Group

34

54

Number of pharmacies of Latvijas Aptieka

69

 

Sales of Latvijas Aptieka, thsnd.

 2 124

23 524

Sales of Diamed and Olainmed, thsnd.

207

 

2 599

 

Sales of NPK Biotest, thsnd  

230

2 360

Sales of Tonus Elast and Elast Medical, thsnd.

862

 

10 054

 

Sales of Silvanols, thsnd.

 558

5 885

According to the approved operating plan of AS Olainfarm for 2018, unconsolidated sales of the company were planned to reach 96 million euros, while consolidated sales were planned at 130 million euros.  According to these preliminary sales figures, during 12 months of 2018, 98% of unconsolidated sales plan and 95% of consolidated sales plan have been attained.

JSC Olainfarm is one of the biggest pharmaceutical companies in Latvia with 45 years of experience in the 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

Sales of Olainfarm Group in 2018 Exceed 123 Million