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Thursday, 25.04.2024, 10:20
Olainfarm pharmaceutical group raises sales 20% in January-February
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The steepest sales growth in January-February 2019 was
recorded in the Netherlands where the company’s sales grew 2.9 times y-o-y.
Sales also grew 45% in Poland and 39% in Russia. Meanwhile, sales in Uzbekistan
fell 7%. The companies key sales market included Latvia (27%), Russia (26%),
Belarus (17%) and Ukraine (11%).
Sales of Latvijas
Aptieka pharmacies in January-February 2019 reached EUR 4.5 mln, which
represents an increase of 21% compared to January-February of 2018. Sales of Silvanols during January-February
reached EUR 1.1 mln, which represents a 6% increase compared to
January-February 2018. Sales of elastic medical product makers Tonus Elast and Elast Medical rose 6% to EUR 1.23 mln, sales of health care
providers Olainmed and Diamed reached EUR 0.47 mln, but sales
of Belarus based NPK Biotest were as
high as EUR 0.55 mln.
Unconsolidated sales results for two months show that sales
of Olainfarm reached EUR 18.6 mln,
which represents an increase of 19% compared to two months of 2018. During the
reporting period, sales increased in all major sales markets of Olainfarm, except Uzbekistan, where
sales shrunk by 7%. In this two-month period, sales of Olainfarm to Turkmenistan grew by 437%, sales to the Netherlands
grew by 190%, but sales Russia by 41%.
Preliminary consolidated results of Olainfarm for February 2019, show that the group achieved EUR 11.4 mln
in sales, which represents an increase of 7% compared to February of 2018.
According to the budgets of Olainfarm, unconsolidated sales of the company in 2019 are planned
to reach EUR 99 mln euros, while consolidated sales are expected at EUR 133 mln.
According to these preliminary sales figures, in the two months of 2019, the
company met 19% of the annual target for unconsolidated sales and 18 % of the
annual target for consolidated sales.
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.
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