In July revenues increased by 14%, significant growth in all the main markets
JSC Olainfarm preliminary consolidated results for July 2019 indicate that revenues increased by 14% compared to the same month last year and reached 9.5 million euro. At the same time consolidated results for the first seven months of 2019 show that revenues reached 75.9 million euro which is an increase by 8%, compared to the seven-month period of 2018. Positive tendencies are observed in all the main markets – Latvia, Russia, Belarus and Ukraine. Products of Olainfarm Group during this period were sold in 54 markets worldwide.
Consolidated sales in July show that historical major markets (Latvia, Russia, Ukraine and Belarus) had significant increase over July last year, where revenues in Latvia rose by 27%, in Russia by 9%, in Ukraine and Belarus by 26% and 42%, respectively. Sale of products also increased in Italy (by 1153%), in Turkmenistan (by 75%), in Moldova (by 46%) and in the Netherlands (by 62%). Out of the ten largest markets revenues declined only in Kazakhstan (by 42%) and in Germany (by 17%).
In the first seven months of 2019, the main sales markets of Olainfarm Group continued to contribute 78% of the total revenue – Latvia (29% share), Russia (27% share), Belarus (13% share) and Ukraine (9% share). Other major sales markets included Kazakhstan, Uzbekistan, the Netherlands, Germany, Tajikistan and Lithuania. The most rapid sales growth during this seven-month period was achieved in the Netherlands, where sales grew by 481% compared to the last year, and in Tajikistan where sales grew by 29%. Sales in Latvia improved by 13%, in Russia by 3%, in Belarus by 10% but in Uzbekistan by 21%. Amongst the largest sales outlets a decline was marked in Ukraine (-2%), in Kazakhstan (-2%), Germany (-7%) and Lithuania (-28%).
“The most recent sales data for July indicates significant increase, including in such target markets as Latvia and Russia. It shows wider picture about situation in the company and confirms that chosen development path is successful. Olainfarm’s management team carefully analyses situation in strategic markets and we can confirm that short-term revenue drop in June was related to practical short-term factors on our partners’ side, and we continue to head according to the plan with confidence,” emphasizes Lauris Macijevskis, Chairman of the Board of JSC Olainfarm.
|July 2019, consolidated sales||Sales, thous. EUR||Share in total sales||Changes to July 2018|
|7 months 2019, consolidated sales||Sales, thous. EUR||Share in total sales||Changes to 7 months 2018|
|The Netherlands||1 666||2%||481%|
Unconsolidated sales – July and 7 months
According to preliminary unconsolidated figures, JSC Olainfarm sales reached 7 million euros in July, which represents an increase by 16% compared to July, 2018. Sale of products improved in Russia (+21%), Latvia (+18%), Ukraine (+25%), Belarus (+71%), Italy (+1153%), Turkmenistan (+75%) and in the Netherlands (+62%). The decline was observed Germany by 19% and in Poland by 31%. In July India was among the major markets.
The unconsolidated sales results for the first seven months of 2019 show that JSC Olainfarm sales reached 57.4 million euros, which represents an increase by 7% compared to the first 7 months of 2018. During this reporting period, sales have increased in seven out of the ten major markets of Olainfarm – Russia (+6%), Latvia (+2%), Belarus (+9%), Uzbekistan (+21%), the Netherlands (+483%), Tajikistan (+252%) and in Italy (+28%). Revenues declined by 1% in Ukraine, by 7% in Germany and by 23% in Kazakhstan.
|July 2019, unconsolidated sales||Sales, thous. EUR||Share in total sales||Changes to July 2018|
|Seven months 2019 unconsolidated sales||Sales, thous. EUR||Share in total sales||Changes to seven months 2018|
|The Netherlands||1 666||3%||483%|
Results of subsidiaries – July and the first seven months of 2019
The pharmacy chain Ltd. Latvijas Aptieka sales reached 2.1 million euros in July 2019, which represents a 16% increase compared to July 2018. 68 pharmacies were operating during this period. Ltd. Silvanols sales reached 0.2 million euros in July 2019, representing a decline by 11% vs. July 2018. The combined sales of Tonus Elast and Elast Medical in July 2019 were 1.03 million euros, which is by 14% more than this time last year. Olainmed and Diamed Medical Center sales reached 0.27 million euros, while the Belarus subsidiary NPK Biotest reached 0.21 million euros in sales in July that is higher by 59% than in July last year.
During the first seven month period of 2019, Ltd. Latvijas Aptieka sales amounted to 15.0 million euros, demonstrating a 7% increase in comparison to the same time period last year, sales of Ltd. Silvanols reached 3.2 million euros which is 3% less than last year. The combined sales of Tonus Elast and Elast Medical during the seven months this year totaled 5.6 million euros which is an increase by 4%. Medical Centers Diamed and Olainmed revenues were 1.8 million euros during the first seven months of this year and the Belarus company NPK Biotest sales were worth 1.7 million euros, improving the result of the last year by 36%.
|July 2019||7 months 2019|
|Sales markets of Olainfarm||46||47|
|Sales markets of the Group||53||54|
|Number of pharmacies||68|
|Sales of Latvijas Aptieka, thous. EUR||2 060||15 028|
|Sales of Medical centers, thous. EUR||266||1 802|
|Sales of NPK Biotest, thous. EUR||211||1 726|
|Sales of Tonus Elast and Elast Medical, thous. EUR||1 025||5 564|
|Sales of Silvanols, thous. EUR||208||3 169|
According to the JSC Olainfarm budget, unconsolidated sales are planned to reach 99 million euros in 2019, while consolidated sales are expected at 133 million euros. According to these preliminary sales figures, in the first six months of 2019, 58% of annual target for unconsolidated sales and 57% of annual target for consolidated sales have been 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.
Investor Relations Advisor of JSC Olainfarm
Ph.: +371 29178878
One Liberty Plaza - 165 Broadway
NY 10006 New York
GlobeNewswire is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.
Subscribe to releases from GlobeNewswire
Subscribe to all the latest releases from GlobeNewswire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from GlobeNewswire
Bayport Management Limited Quarterly report March 202029.5.2020 22:00:00 CEST | Press release
Please find Bayport Management Limited Quarterly report March 2020 attached. Attachments BML Quarterly Report March 2020BML Quarterly Report March 2020
Ress Life Investments A/S: Ress Life Investments A/S publishes Net Asset Value (NAV)29.5.2020 20:50:00 CEST | Press release
Ress Life Investments Holbergsgade 14, 2 tv DK-1057 Copenhagen K Denmark CVR nr. 33593163 www.resslifeinvestments.com To: Nasdaq Copenhagen Date: 29 May 2020 Corporate Announcement 22/2020 Ress Life Investments A/S publishes Net Asset Value (NAV). Ress Life Investments A/S publishes the Net Asset Value (NAV) per share and performance data as of 15 May 2020. NAV per share in USD: 1955.92 NAV per share in EUR: 1811.38 The performance during the first half of May was 0.01% in USD. The year-to-date net performance is -0.15% in USD. Assets under management (AUM) was 184.6 million US dollars. Questions related to this announcement can be made to the company's AIF-manager, Resscapital AB. Contact person: Gustaf Hagerud email@example.com Tel + 46 8 545 282 27 Note: The terms for subscription of shares, minimum subscription amount and redemption of shares are provided in the Articles of Association, Information Brochure and in the Key Investment Information Document (KIID) availabl
Eastern Property Holdings Limited (EPH):First quarter 2020 Financial Update29.5.2020 19:45:23 CEST | Press release
29 May 2020, Road Town, Tortola, BVI KEY EVENTS In March 2020, the Company received EUR 204.7 million by issuance of subordinated notes to its two largest shareholders at an interest rate of 3.5% p.a. The management intends to use the funds for the acquisition of properties in Western Europe in order to further strengthen the Group’s business and follow its strategy to invest in premium quality income producing commercial property assets in Europe.Arbat sales have been continued: a few more apartments and parking lots were sold in Q1 2020.Leases with the Company’s top tenants (Chanel and Richemont Group) have been extended.As a subsequent event, in April 2020 the Company acquired 89.9% of interest in the Nhow Hotel in Berlin, Germany. The property had been completed in 2010 and comprises approximately 20,160 sqm, including 304 rooms, 86 underground & 39 surface parking spaces, a spa, restaurant and two music studios. FINANCIAL HIGHLIGHTS The Company’s rental properties demonstrate stab
Arion Bank: Transactions of primary insiders / financially connected parties29.5.2020 16:58:35 CEST | Press release
Please see announcements attached. Attachments BBL VII ehfBrekkuás ehf
AB Linas Agro Group performance and financial results for 9-month period of FY 2019/2029.5.2020 16:30:07 CEST | Press release
Consolidated revenue was 9.6 % less and totaled EUR 476 million. Sales volume reached 1.67 million tons of various products and was 3.2% less as compared to previous year. The gross profit reached EUR 27.1 million and was 11,8 % higher than a year before. Consolidated EBITDA was 74 % higher and amounted to EUR 11.8 million. The operating profit was EUR 2.9 million (last year there was an operating loss of EUR 1.2 million). Profit before taxes amounted to EUR 0.67 million (compared to a loss of EUR 3.6 million in the previous year). Net profit attributable to the Group amounted to EUR 0.64 million (previous year there was a loss of EUR 3.5 million). A brief comment by Finance Director Mažvydas Šileika: Trade in grains, oilseeds and feedstuffs has been affected by the pandemic as the borders of the countries were closed, and the value of some stocks that haven’t been sold before quarantine has declined during the quarantine. Sales fell 16% to EUR 305 million. However, the operating profi
Conditions for Riksbank Bid Procedures SEK Municipal Bonds29.5.2020 16:20:00 CEST | Press release
Bid procedure on 2 June 2020, Municipalities and Regions Bonds:Fixed-rate Bonds issued in SEK by Municipalities or Regions with maturity in 2023. The following issuers are accepted for delivery: Borås Kommun Göteborgs Kommun Jönköpings Kommun Nacka Kommun Norrköpings Kommun Skåne Läns Landsting Stockholms Kommun Stockholms Läns Landsting Sundsvalls Kommun Vellinge Kommun Delivery may not be made in Bonds purchased by the Counterparty from the issuer less than one week prior to the date for announcing the Specific terms, i.e. the purchase may not have been made after 22 May 2020.Bids:Bids are made to tel 08-696 69 70 and confirmed in writing by a filled-in Bid form by e-mail to EOL@riksbank.se.Bid date:Tuesday 2 June 2020Bid time:1000-1100 hours (CEST) on the Bid dateRequested volume: (corresponding nominal amount)SEK 750 +/- 750 millionHighest permitted bid volume: (corresponding nominal amount)The total bid volume from one Counterparty for the two Credit rating classes may not exceed