Sales of Olainfarm Continue Growing in February
Consolidated sales – February and 2 months
Preliminary consolidated results of JSC Olainfarm for February 2019, show that the Group has made sales worth 11.4 million euros, which represents an increase by 7% compared to February of 2018. Preliminary results for two months of this year demonstrate 20% sales increase, as sales during this period reached 23.9 million euros. Products of Olainfarm Group during this period were sold in 40 countries worldwide.
According to consolidated sales numbers for February, three major sales markets were Russia, with 15% sales increase, Latvia, with a 14% sales increase and Belarus with the sales increase of 3%. Amongst the 10 biggest sales markets, the sales have been shrinking only in Lithuania (by 43%), Kazakhstan (by 37%) and Uzbekistan (by 6%). All other key markets demonstrated sales growth during February, and significant shipments were also made to Japan and Canada.
In two months of 2019, the main sales markets of Olainfarm Group remained the same: Latvia (27% share), Russia, (26% share), Belarus (15%) and Ukraine (10%). Other major sales markets include Kazakhstan, Uzbekistan, Germany, The Netherlands, Japan, Canada, and Poland. The most rapid sales growth during this two-month period was achieved in The Netherlands, where sales grew by 190% compared to last year, and Poland, where sale grew by 45%. Russia has demonstrated a 39% sales increase and significant shipments were also made to Canada. During this period only sales to Uzbekistan have been shrinking (by 7%).
| February 2019, consolidated sales | Sales, thsnd. EUR | Share in total sales | Changes to February 2018 |
| Russia | 3 156 | 28% | 15% |
| Latvia | 3 156 | 28% | 14% |
| Belarus | 1 706 | 15% | 3% |
| Ukraine | 1 173 | 10% | 14% |
| Japan | 336 | 3% | NA |
| Canada | 323 | 3% | NA |
| Uzbekistan | 210 | 2% | -6% |
| Kazakhstan | 189 | 2% | -37% |
| Germany | 149 | 1% | 4% |
| Lithuania | 130 | 1% | -43% |
| Other | 913 | 8% | -42% |
| Total | 11 440 | 100% | 7% |
| 2 months of 2019, consolidated sales | Sales, thsnd. EUR | Share in total sales | Changes to 2 months of 2018 |
| Latvia | 6 553 | 27% | 15% |
| Russia | 6 211 | 26% | 39% |
| Belarus | 3 942 | 17% | 17% |
| Ukraine | 2 681 | 11% | 26% |
| Germany | 394 | 2% | 11% |
| Uzbekistan | 367 | 2% | -7% |
| The Netherlands | 353 | 1% | 190% |
| Japan | 337 | 1% | 7% |
| Canada | 323 | 1% | NA |
| Poland | 257 | 1% | 45% |
| Other | 2 443 | 10% | -15% |
| Total | 23 859 | 100% | 20% |
Unconsolidated sales – February and 2 months
According to preliminary unconsolidated numbers, sales of JSC Olainfarm in February reached 8.7 million euros, which represents an increase by 23% compared to February of 2018. Such an increase was mainly influenced by the sales increase in Italy (by 420%), Russia (by 85%) and Uzbekistan (by 23%). Sales shrunk in Kazakhstan (by 44%), Germany (by 29%), Latvia (by 7%) and Belarus (by 5%).
Unconsolidated sales results for two months show that sales of JSC Olainfarm reached 18.6 million euros, which represents an increase by 19% compared to two months of 2018. During the reporting period, sales have 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%.
| February 2019, unconsolidated sales | Sales, thsnd. EUR | Share in total sales | Changes to February 2018 |
| Russia | 2 744 | 32% | 85% |
| Belarus | 1 424 | 16% | -5% |
| Latvia | 1 397 | 16% | -7% |
| Ukraine | 1 171 | 13% | 6% |
| Japan | 336 | 4% | NA |
| Canada | 323 | 4% | NA |
| Uzbekistan | 210 | 2% | 23% |
| Germany | 146 | 2% | -29% |
| Kazakhstan | 130 | 1% | -44% |
| Italy | 127 | 1% | 420% |
| Other | 696 | 8% | -20% |
| Total | 8 704 | 100% | 23% |
| 2 months of 2019. unconsolidated sales | Sales, thsnd. EUR | Share in total sales | Changes to 2 months of 2018 |
| Russia | 5 577 | 30% | 41% |
| Belarus | 3 353 | 18% | 15% |
| Latvia | 3 044 | 16% | 1% |
| Ukraine | 2 679 | 14% | 26% |
| Germany | 391 | 2% | 12% |
| Uzbekistan | 367 | 2% | -7% |
| The Netherlands | 353 | 2% | 190% |
| Japan | 337 | 2% | 7% |
| Canada | 323 | 2% | NA |
| Turkmenistan | 251 | 1% | 437% |
| Other | 1 964 | 11% | -20% |
| Total | 18 638 | 100% | 19% |
Results of Daughter companies – February and 2 months
Sales of pharmacy chain of SIA Latvijas Aptieka in February 2019 exceeded 2.1 million euros, which represents and increase by 27% compared to February of 2018. Sales of SIA Silvanols in February reached 0.58 million euros, which is comparable to sales made one year ago. Combined sales of Tonus Elast and Elast Medical in February 2019 were 0.7 million euros, an increase by 8%, medical centers of Olainmed and Diamed made sales worth 0.24 million, while Belarus daughter company NPK Biotest made sales of 0.28 million euros.
In 2 months of 2019, SIA Latvijas Aptieka’s sales were 4.5 million euros, demonstrating 21% increase, sales of SIA Silvanols reached 1.1 million euros (an increase by 6%). Combined sales of Tonus Elast and Elast Medical also grew by 6% to 1.23 million euros. Medical centers sold services worth 0.47 million, while NPK Biotest’s sales reached 0.55 million
| February 2019 | 2 months of 2019 | |
| Sales markets of Olainfarm | 26 | 35 |
| Sales markets of the Group | 32 | 40 |
| Number of pharmacies | 69 | |
| Sales of Latvijas Aptieka, thsnd. | 2 124 | 4 469 |
| Sales of Medical centers, thsnd. | 238 | 470
|
| Sales of NPK Biotest, thsnd. | 282 | 547 |
| Sales of Tonus Elast and Elast Medical, thsnd. | 704 | 1 233
|
| Sales of Silvanols, thsnd. | 580 | 1 065 |
According to the budgets of JSC Olainfarm, unconsolidated sales of the company in 2019 are planned to reach 99 million euros, while consolidated sales are expected at 133 million euros. According to these preliminary sales figures, in 2 months of 2019, 19% of annual target for unconsolidated sales and 18% of the annual target for consolidated sales are reached.
JSC Olainfarm is one of the biggest pharmaceutical companies in Latvia with more than 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 60 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.
Information prepared by:
Inga Krūkle
Member of the Board JSC Olainfarm
Ph.: +371 28698449
inga.krukle@olainfarm.com