Consolidated Results of 8 months and August, 2018
Preliminary consolidated Olainfarm Group sales results in August of 2018 have reached 9.1million euros and that is 13% more compared to corresponding period of 2017. Largest sales growth was reached in Italy and Kirgizstan where due to the low base in 2017, sales have increased by 11650% and 292% respectively. Sales declined at most in Turkmenistan and Russia, 31% and 9% respectively. In August JSC Olainfarm Group’ s largest sales markets remained the same - Russia, Latvia and Belarus.
| August 2018, consolidated sales | Sales, thsnd. EUR | Share in total sales | Year on year change in sales |
| Latvia | 2 701 | 30% | 15% |
| Russia | 2 396 | 26% | -9% |
| Belarus | 1214 | 13% | 50% |
| Ukraine | 970 | 11% | 97% |
| The Netherlands | 339 | 4% | 183% |
| Kazakhstan | 292 | 3% | 19% |
| Turkmenistan | 133 | 1% | -31% |
| Tajikistan | 128 | 1% | 27% |
| Kirgizstan | 118 | 1% | 292% |
| Italy | 94 | 1% | 11650% |
| Other | 723 | 8% | -1% |
| Total | 9 108 | 100% | 13% |
In August 2018 the sales of JSC Olainfarm Pharmacy network Latvijas Aptieka LTD, with 69 pharmacy sales points, reached EUR 1.9 million and that is by 20% more than in the same period last year. Silvanols LTD turnover in August 2018 was registered EUR 0.42 million, reaching 13% increase compared to August 2017. Tonus Elast LTD, producer of elastic medical products, increased its sales by 21%, reaching EUR 0.88 million in August
Consolidated results of the first eight months of 2018 show that JSC Olainfarm sales reached EUR 79.5 million that is by 4% more than in the same period last year. Fastest sales increase was demonstrated in Tajikistan (+51%) and Belarus (+ 42%), and some decrease was reached in Russia (10%) and Poland (4%). Russia, Latvia, Ukraine, Belarus remain among the largest sales markets of the Company.
| 8 months of 2018, consolidated sales | Sales, thsnd. EUR | Share in total sales | Year on year change in sales |
| Latvia | 22 578 | 28.39% | 17% |
| Russia | 22 357 | 28.11% | -10% |
| Belarus | 9 953 | 12.5% | 42% |
| Ukraine | 7 838 | 9.9% | 23% |
| Kazakhstan | 2 296 | 3% | 1% |
| Uzbekistan | 1 585 | 2% | 26% |
| Germany | 1 294 | 2% | 10% |
| Lithuania | 1 216 | 2% | 25% |
| Tajikistan | 961 | 1% | 51% |
| Poland | 941 | 1% | -4% |
| Other | 8 523 | 11% | 2% |
| Total | 79 542 | 100% | 4% |
During first 8-month of 2018 Latvijas Aptieka LTD sales increased by 21%, reaching EUR 16 million. Silvanols LTD turnover reached EUR 3.7 million and that is 8% increase compared to respective period in 2017. Tonus Elast LTD sales results retained on the same level - EUR 5.4 million compared to the 8 months of 2017.
Non-consolidated results of 8 months 2018
The unconsolidated results of August 2018 show that JSC Olainfarm sales reached EUR 6.8 million, and that is 12% increase compared to August 2017. The highest sales increase due to low base in 2017 was reached in following markets: in Italy, where sales volumes increased by 11049%, in The Netherlands by 182% and in Ukraine by 140%. Decrease in sales by 31% was registered in Turkmenistan. Significant products volumes were delivered to Poland. Russia, Latvia and Ukraine that are remaining among the largest sales markets.
| August 2018, unconsolidated sales | Sales, thsnd. EUR | Share in total sales | Year on year change in sales |
| Russia | 1 842 | 27% | -19% |
| Latvia | 1 329 | 19% | 16% |
| Belarus | 1099 | 16% | 41% |
| Ukraine | 964 | 14% | 140% |
| The Netherlands | 339 | 5% | 182% |
| Kazakhstan | 223 | 3% | 12% |
| Turkmenistan | 133 | 2% | -31% |
| Tajikistan | 109 | 2% | 7% |
| Italy | 94 | 1% | 11049% |
| Poland | 93 | 1% | N/A |
| Other | 603 | 9% | 13% |
| Total | 6 828 | 100% | 12% |
The unconsolidated results of 8 month of 2018 show that JSC Olainfarm sales reached EUR 60.3 million, that is slight 1% decrease compared to same period of 2017. Fastest growth was registered in Japan, with 321% sales increase, and in Tajikistan with 52% sales increase. Sales in Russian market experienced slight decrease by 15%, however remaining among the largest markets together with Latvia, Ukraine and Belarus.
| 8 months of 2018, unconsolidated sales | Sales, thsnd. EUR | Share in total sales | Year on year change in sales |
| Russia | 19 284 | 32% | -15% |
| Latvia | 10 764 | 18% | 15% |
| Belarus | 8 577 | 14% | 24% |
| Ukraine | 7 693 | 13% | 24% |
| Uzbekistan | 1 585 | 3% | 26% |
| Kazakhstan | 1 476 | 2% | -11% |
| Germany | 1 294 | 2% | -12% |
| Lithuania | 1 162 | 2% | 46% |
| Tajikistan | 926 | 2% | 52% |
| Japan | 731 | 1% | 321% |
| Other | 6 837 | 11% | 13% |
| Total | 60 329 | 100% | -1% |
According to the estimates of JSC Olainfarm, approved on 5th of June 2018 by supervisory Council of JSC Olainfarm, the unconsolidated turnover of the company in 2018 could reach 96 million euros, while the consolidated turnover - 130 million euros. According to the preliminary turnover figures published here, in the 8 months of 2018, 63% of the total unconsolidated turnover planned for 2018 and 61% of the planned annual consolidated turnover has been achieved.
JSC Olainfarm is one of the biggest pharmaceutical companies in Latvia with 45 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company's operations is to produce reliable and effective top -quality products for Latvia and the rest of the world. Products made by the Group are being exported to more than 50 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.
Information prepared by:
Inga Krukle
Member of the Management Board
JSC Olainfarm
Phone +371 28698449
Email:Inga.krukle@olainfarm.com