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Sales of Olainfarm pharmaceutical group in April grow 28% y-o-y

BC, Riga, 16.05.2017.Print version
Preliminary consolidated results of Latvian pharmaceutical group Olainfarm show that sales in April this year reached EUR 11.28 mln, which is a 28% growth from April 2016, reported LETA.

The biggest sales increase was achieved in the Netherlands where sales grew by 6,642%, Olainfarm said. Sales to Kazakhstan grew by 159%, sales to Poland grew by 143%, sales to Russia increased by 58% and sales to Lithuania grew by 49%. The biggest sales reduction took place in Italy, where sales contracted by 43%. The group's major sales markets in April this year were Russia, Latvia, Ukraine and the Netherlands.


As to Olainfarm subsidiaries, Latvijas Aptieka drugstore chain comprising 66 drugstores reported EUR 1.66 mln in sales in April 2017, up 5% y-o-y. Sales of Silvanols green pharmaceutical company stood at EUR 0.48 mln at a 23 % rise from April 2016. This April Silvanols sold its products to six European countries and, through Olainfarm, also to Azerbaijan, Russia, Belarus and Armenia. Sales of Tonus Elast producer of elastic medical products in April 2017 amounted to EUR 0.65 mln, and the company sold its products to 16 countries in three continents.


Preliminary consolidated sales of Olainfarm in the first four months of 2017 was EUR 38.28 mln, which represents an increase by 9% compared to the same period in 2016. The biggest sales increase during this period was achieved in the Netherlands where sales grew by 427%, while sales to Germany increased by 151%. The biggest sales reduction took place in Ukraine, where sales shrank by 49%. The major sales markets of the group in the first four months of 2017 were Russia, Latvia, Belarus, Ukraine and the Netherlands.


Sales of Latvijas Aptieka in January-April 2017 were EUR 6.8 mln, up 3% y-o-y. The four-month sales of Silvanols grew 31% to EUR 2.1 mln in the first four months of this year. During this period Silvanols sold its products to nine European countries and, through Olainfarm, also to Lithuania, Russia, Azerbaijan, Belarus and Armenia. Sales of Tonus Elast in the first four months of 2017 reached EUR 2.5 mln with its products sold to 30 countries in four continents.


According to unconsolidated preliminary results, Olainfarm sales in April 2017 were EUR 9.38 mln or by 22% higher than in April 2016. The biggest sales increase was achieved in the Netherlands where sales grew by 6,642%. Sales to Lithuania grew by 49%, and sales to Russia increased by 44%. The biggest sales reduction took place in Italy where sales shrank by 43%. In April 2017, the company also made significant shipments to Germany. The biggest sales markets during this period were Russia, Ukraine, Latvia, the Netherlands and Belarus. Olainfarm products were sold to 29 countries in five continents.


In the first four months of 2017, Olainfarm unconsolidated preliminary sales were EUR 30.72 mln, growing one % from the same period in 2016. The biggest sales increase has been achieved in the Netherlands where sales increased by 415%, while sales to Germany increased by 106%. The biggest sales reduction during this period took place in Ukraine where sales shrank by 50%. The major sales markets of Olainfarm in the first four months were Russia, Latvia, Belarus, Ukraine and the Netherlands. During the four-month period Olainfarm sold its products to 38 countries in five continents.


According to preliminary estimates, unconsolidated sales of Olainfarm in 2017 might reach EUR 96 mln, while consolidated annual sales are estimated at EUR 127 mln. According to the preliminary sales numbers, during the first four months of 2017 the company has already made 32% of its unconsolidated sales estimate and 30% of its annual consolidated sales estimate.


In 2016, the Olainfarm group generated EUR 110.693 mln in sales, up 13.7% from 2015, but its profit fell 24.2% y-o-y to EUR 11.586 mln.


Olainfarm makes medicines, food supplements, active pharmaceutical ingredients and chemical substances.


Olainfarm shares are quoted on the Main List of the Nasdaq Riga stock exchange. The company's key owner is its board chairman Valerijs Maligins.






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