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International Internet Magazine. Baltic States news & analytics Thursday, 06.08.2020, 18:34

Olainfarm pharmaceutical group raises sales 14% in four months of 2019

BC, Riga, 16.05.2019.Print version
During the first four months of 2019, Latvia’s Olainfarm pharmaceutical group raised sales 14% y-o-y to EUR 47.3 mln, according to the group’s unaudited consolidated results for January-April 2019, informed representative of the Olainfarm.

During the four-month period, Olainfarm products were sold in 50 countries of the world. The group’s largest sales markets in the four months of 2019 included Russia (30%), Latvia (27%), Belarus (14%) and Ukraine (9%). The group’s largest trade partners also included the Netherlands, Uzbekistan, Kazakhstan, Germany, Tajikistan and Lithuania.

The most rapid sales growth during this four-month period was achieved in the Netherlands, where sales grew by 702% compared to the last year, and in Uzbekistan where sale grew by 64%. Russia and Belarus have demonstrated 27% and 12% sales increase in the four months, respectably. Amongst the largest sales outlets decline has been marked in Ukraine (-5%), Kazakhstan (-14%), Germany (-19%) and Lithuania (-34%).

Unconsolidated sales results for four months 2019 show that sales of Olainfarm reached 36.6 mln euros, which represents and increase by 14% compared to the first four months of 2018. During the reporting period, sales increased in all major sales markets of Olainfarm, except Ukraine, where sales shrunk by 11%, Uzbekistan (decrease by 23%) and Tajikistan (decrease by 34%). In this 4-months period, sales of Olainfarm to the Netherlands grew by 64%, but sales to Kazakhstan and Lithuania accordingly by 13% and 55%.

Preliminary consolidated results of Olainfarm for April 2019, show that the group generated EUR 12.6 mln in sales, which represents an increase of 14% compared to April 2018. 

According to non-consolidated results, Olainfarm raised sales 15% to EUR 10 mln in April.

According to consolidated sales numbers for April, four major sales markets of the group remained the same: Russia, with 77% sales increase, Latvia, where the sales jumped by 10%, Ukraine with the sales decrease of 38%, and Belarus with the 17% decrease. Amongst the ten largest sales markets, the sales have been shrinking also in Lithuania (by 27%). All other major outlets demonstrated sales growth in April, with substantial deliveries to the Netherlands, Kazakhstan and Germany.

According to the budget of Olainfarm, unconsolidated sales of the company in 2019 are planned to reach EUR 99 mln, while consolidated sales are expected at EUR 133 mln. According to these preliminary sales figures, 37% of the annual target for unconsolidated sales and 35% of annual target for consolidated sales were reached in the first four months 2019.

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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