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International Internet Magazine. Baltic States news & analytics Thursday, 28.03.2024, 19:01

Olainfarm pharmaceutical group raises sales 4% in seven months of 2018

BC, Riga, 20.08.2018.Print version
In the first seven months of 2018, Latvia's Olainfarm pharmaceutical group raised sales 4% against the same period last year to EUR 70.602 mln, informs LETA.

The steepest sales increase was achieved in Uzbekistan where the Latvian pharmaceutical company’s sales grew 46% year-on-year, followed by Belarus (44%) and Latvia (22%). Meanwhile, sales fell 13% in Poland and 11% in Russia. In the seven months of 2018 the company’s key markets included Latvia (29%, or EUR 20.173 mln), Russia (28% or EUR 19.935 mln), Belarus (13% or EUR 8.97 mln) and Ukraine (10% or EUR 6.874 mln).


The group’s unconsolidated seven-month sales result was EUR 53.813 mln, down 2% from the respective period a year ago, according to preliminary data. Although sales volumes in Russia declined during the reporting period, Olainfarm managed to increase sales in Latvia by 18%, in Belarus by 22% and in Ukraine by 16%.


The fastest increase over the seven months of this year was achieved in Uzbekistan, where sales have grown by 46% against the corresponding period of last year.


In the seven months of 2018, Olainfarm met 56% of its annual unconsolidated turnover target and 54% of its annual consolidated turnover target, according to the preliminary turnover figures.

This year, the company’s unconsolidated turnover is planned at EUR 96 mln and consolidated turnover at EUR 130 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.

 






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