Baltic Export, Baltic States – CIS, Latvia, Markets and Companies, Medicine

The biggest sales increase has been achieved in Ukraine, where sales grew by 361%. Sales to Turkmenistan grew by 208%, sales to Poland grew by 133%, but sales to Lithuania by 120%. During this period, significant shipments have also been made to Uzbekistan. Major sales markets of Olainfarm in March 2016 were Ukraine, Latvia, Russia and Belarus.

Sales of Olainfarm’s pharmacy chain Latvijas Aptieka in March 2016 were EUR 1.63 million, which represents an increase by 13% compared to the same period of the last year. Sixty-one pharmacies were operating in March this year.

Sales of Silvanols pharmaceutical company in March 2016 were EUR 0.44 million, which represents an increase by 52% compared to sales made in March 2015. In March 2016, Silvanols sold its products in four European countries and with assistance of Olainfarm also to Azerbaijan and Belarus.

In the first three months of 2016, according to preliminary consolidated results, sales of Olainfarm reached EUR 26.1 million, which represents a reduction by 6% compared to the first three months of 2015. The most rapid sales increase has been achieved in Poland, where sales grew by 181%. Sales to Turkmenistan grew by 162%, sales to Uzbekistan grew by 134% and sales to Belarus grew by 77%. Major sales markets of Olainfarm in the first three months of 2016 were Latvia, Russia, Ukraine and Belarus.

During the first three months period of 2016 sales of pharmacy chain Latvijas Aptieka reached EUR 5.02 million, which represents an increase by 19% compared to the same period of 2015. Sales of Silvanols in three months of 2016 were EUR 1.22 million, which represents an increase by 11% compared to the first quarter of 2015. Products of Silvanols were sold to seven European countries and with assistance of Olainfarm also to Azerbaijan and Belarus.

According to preliminary unconsolidated results, sales of Olainfarm in March 2016 were EUR 7.91 million, which represents an increase by 3% compared to the same period of 2015. The biggest sales increase was achieved to Ukraine, where sales grew by 361%. Sales to Italy grew by 287%, sales to Turkmenistan grew by 208%, and sales to Lithuania grew by 159%. Significant shipments during this period were also made to Uzbekistan. Major sales markets of Olainfarm were Ukraine, Russia, Latvia and Belarus. During March 2016, products of Olainfarm were sold to 28 countries in three continents.

According to unconsolidated preliminary results for three months of 2016, sales of Olainfarm have reached EUR 22.6 million, which represents a reduction by 8% compared to the same period of 2015. The most rapid sales increase was achieved in Turkmenistan, where sales grew by 162%. Sales to Uzbekistan grew by 134%, while sales to Belarus and Lithuania grew by 77% each. The major sales markets of Olainfarm in three months of 2016 were Russia, Ukraine, Latvia and Belarus. In three months of 2016, products of Olainfarm were sold to 32 countries in three continents.

According to preliminary estimates by the management of Olainfarm, unconsolidated sales in 2016 are expected at EUR 90 million, while consolidated sales at EUR 103 million. According to these preliminary sales results, in three months of 2016, the company has reached 25% of its annual unconsolidated sales estimate and 25% of its annual consolidated sales estimate.

Olainfarm is listed on the Main List of the Riga Nasdaq stock exchange. Its largest shareholder is the company’s board chairman Valerijs Maligins.