Baltic Export, Good for Business, Latvia, Markets and Companies, Medicine

The biggest sales increase was achieved in Tajikistan, where sales grew by 349%. Sales to Germany grew by 110%; sales to Russia grew by 93%, sales to Belarus increased by 63%. The biggest sales reduction happened in Ukraine where sales shrunk by 49%. During August 2017, the Group also made significant shipments to Turkmenistan and the Netherlands. The major sales markets of the group during this period were Russia, Latvia and Belarus.

Latvijas Aptieka drugstore chain owned by Olainfarm posted EUR 1.83 million in sales in August, up 24% compared to August 2016. Another subsidiary, Silvanols, reported EUR 0.38 million in August sales at a 6% growth year-on-year. Sales of Tonus Elast in August 2017 reached EUR 0.73 million, down 4% compared to August 2016.

Preliminary consolidated sales of the Olainfarm group in the first eight months of 2017 reached EUR 76.39 million, which represents an increase by 9% compared to the eight-month period in 2016. The biggest sales increase was achieved in the Netherlands, where sales grew by 236%. Sales to Germany increased by 206%, sakes to Kazakhstan increased by 44% but sales to Italy increased by 43%. The biggest reduction of sales took place in Ukraine, where sales shrunk by 44%. The major sales markets of the Olainfarm group in January-August this year were Russia, Latvia, Belarus and Ukraine.

Sales of Latvijas Aptieka in the eight months of 2017 were EUR 13.8 million, which represents an increase by 12% compared to the same period in 2016. Sales of Silvanols during this period were EUR 3.3 million, which represents an increase by 6% compared to the first eight months of 2016 when this company made EUR 3.1 million in sales. Sales of Tonus Elast in were EUR 5.4 million in January-August this year.

According to unconsolidated preliminary results, sales of Olainfarm in August 2017 were EUR 6.07 million, which represents an increase by 24% compared to August 2016. The biggest sales increase was achieved in Tajikistan, where sales grew by 349%, while the biggest sales reduction took place in Ukraine, where sales shrunk by 58%.

Preliminary unconsolidated sales of Olainfarm in the first eight months of 2017 were EUR 60.87 million euros, growing 2% year-on-year. The biggest sales increase during this period was achieved in the Netherlands, where sales increased by 249%, and the biggest sales reduction was experienced in Ukraine, where sales shrunk by 46%.

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.