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Friday, 29.03.2024, 07:59
Sales of Olainfarm pharmaceutical group in April grow 28% y-o-y
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.