Preliminary Results of Olainfarm: Sales in 1st Quarter Have Increased by 28%

on April 15, 2011

Preliminary sales figures of JSC Olainfarm for the first quarter of 2011 show the sales increase by 28% compared to similar period a year ago, thus the sales have reached 7.84 million lats (11.6 million euro). The most rapid sales growth has been experienced in Bulgaria – by 350%, Belarus by 117%, Uzbekistan by 87%, Ukraine by 80%, Latvia by 75%, and Italy by 61%. The main sales markets of JSC Olainfarm during the first quarter of 2011 were Russia, Ukraine, Belarus and Latvia.

Reacting to a call by investors to provide a more frequent information about the development of company’s financial situation during periods between quarterly reports, JSC Olainfarm will from now on by 15th date of the following month (or later, if 15th is a holiday) inform about the preliminary sales figures of the previous month. By similar dates of April, July, October and January JSC Olainfarm will publish preliminary quarterly sales figures.

Country % of total sales Changes compared to similar period a year ago
Russia 39,4% 4,3%
Ukraine 19,7% 80,4%
Belarus 13,6% 116,9%
Latvia 6,7% 75,1%
UK 4,9% 0,00%
Uzbekistan 2,5% 87,3%
Kazakhstan 2,1% -57,3%
Bulgaria 2,0% 350,1%
Lithuania 1,7% 34,6%
Italy 1,7% 60,8%
Other countries 5,8% 11,5%



JSC Olainfarm is one of the biggest pharmaceutical companies in Latvia with more than 40 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 35 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

Information prepared by:

Salvis Lapins
Member of the Board
JSC Olainfarm
Tel: +371 6 7013 717
Cell: +371 2 6448 873


SigitaPreliminary Results of Olainfarm: Sales in 1st Quarter Have Increased by 28%