The first half of the year shows stability in the sales results of JSC Olainfarm
In the first six months of 2020 Olainfarm Group successfully continued its operations in the core markets and ensured growth of medicines supplied within its primary therapeutic areas, which allowed the Group to reach EUR 66 million sales, a similar amount of sales compared to the same time period last year.
The Group's main market in the first half of 2020 was Russia, representing 30% of total sales, while the products for the health of the nervous system reached 53% of medical product sales, the growth was mainly led by increased sales of Adaptol.
“I look back at the first six months of this year and rate it as a dynamic time full of learning. Our main focus was to provide uninterrupted accessibility of our products to the patients we serve in our core markets, in a backdrop of Covid-19 related challenges. Also, it is important to highlight that we have finished work with the company's 5 year strategy transforming to sustainable year-over-year double digit growth in our core segments of prescription products, OTC products and our APIs. In the first half of this year, our focus was on securing our existing business and business in the long-term. A critical strategic lever is to optimize our R&D activities fueling the portfolio with new products. Now we are ready to bring it to the next level by accelerating growth, leading to a significant increase of the company's value. I am pleased to report that our work so far is reflected in the financial results of the first half of the year,” said Jeroen Weites, Chairperson of the Management Board of JSC Olainfarm.
Groups reported EBITDA for the first six months of 2020 is EUR 17.9 million, which is a 19% increase compared to the same time period last year, while the net profit is EUR 10 million, which is a 18% decline due to the currency exchange losses resulting from the Ruble exchange rate fluctuations in the reporting period.
Although the Group has implemented comprehensive security measures and was able to continuously supply products due to its vertically integrated manufacturing structure, some markets experienced a decline in demand due to changes in purchasing power and limitations to acquire medical products. Due to the changes in demand, the Group has decreased the sales forecast for 2020 to EUR 126 million, which is a 7% decline to the previously reported. The forecasted net profit for the Group in 2020 is EUR 11.2 million, which is a EUR 3 million decline compared to the prior forecast due to negative exchange rate fluctuations.
JSC Olainfarm is one of the largest companies in the Baltic States with more than 45 years of experience in the production of medicines and chemical pharmaceutical products. The basic principle of the company's activity is to produce reliable and efficient products of the highest quality for Latvia and the whole world. Currently, the products of JSC Olainfarm are exported to more than 50 countries and territories of the world, including the Baltic States, Russia, other CIS countries, Europe, North America, Asian countries and Australia.
Investor Relations Advisor of JSC Olainfarm
Phone: +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
ZetaDisplay launches next generation global software platform25.11.2020 08:30:00 CET | Press release
Malmö - ZetaDisplay AB (publ) (Nasdaq Stockholm: ZETA) announces the launch of its next-generation software platform for proprietary, cloud-based content scheduling and distribution. The upgraded ZetaDisplay Engage will be implemented with immediate effect with the Group’s international customer base. “Despite the uncertainty in the market, we have continued to invest in our software and services offer during 2020 to accelerate growth”, says CEO Per Mandorf. “After 5,000 manhours of development we are now ready to launch the latest version of our content management system steering our customers’ Digital Signage networks”, Mandorf continues. The upgrade will happen in two phases where the initial focus will be on a state-of-the-art user interface together with a future-proof cloud-based solution. The platform offers a broad range of functionality, is easily connectable to customers’ digital ecosystem and can also handle live data. In parallel, a new standard service catalogue has been l
ZetaDisplay lanserar nästa generations globala mjukvaruplattform25.11.2020 08:30:00 CET | Pressemelding
Malmö - ZetaDisplay AB (publ) (Nasdaq Stockholm: ZETA) lanserar sin egenutvecklade nästa generations mjukvaruplattform för schemaläggning och distribution av molnbaserat innehåll. Den uppgraderade mjukvaran ZetaDisplay Engage kommer att implementeras med omedelbar verkan hos koncernens internationella kundbas. "Trots osäkerheten på marknaden har vi fortsatt att investera i vårt mjukvaru- och tjänsteerbjudande under 2020 för att accelerera tillväxten", säger VD Per Mandorf. " Efter 5 000 mantimmar av utveckling är vi nu redo att lansera den senaste versionen av vårt content management system som styr våra kunders Digital Signage-installationer", fortsätter Mandorf. Uppgraderingen kommer att ske i två faser där det inledande fokuset kommer att ligga på ett toppmodernt användargränssnitt tillsammans med en framtidssäker molnbaserad lösning. Plattformen erbjuder ett brett utbud av funktionalitet, är lätt att ansluta till kundernas digitala ekosystem och kan även hantera livedata. Parallell
ArcAroma AB: 201125 Samarbetsavtal med OptiFreeze ökar möjligheten till accelerad tillväxt25.11.2020 08:30:00 CET | Pressemelding
Pressmeddelande 2020-11-25 ArcAroma och OptiFreeze har idag tecknat ett utvärderingsavtal gällande samarbete. Syftet med avtalet är att utvärdera möjligheten till framtida gemensamma projekt för livsmedelsapplikationer. ArcAromas organisation kommer dessutom stödja OptiFreeze i deras marknadsexpansion för snittblommor. ArcAroma har under de senaste åren mer och mer fokuserat på livsmedelssektorn. Bolaget ser en stor potential i denna globala marknad och har olika applikationer under marknadsutveckling och nya i utvecklingsfas. ArcAromas ledning och styrelse ser att ett fördjupat samarbete med OptiFreeze erbjuder en stor potential att skapa ett starkare och konkurrenskraftigare ArcAroma inom livsmedelsteknik. Det tekniska och vetenskapliga kunnandet i respektive bolag är komplementära. ArcAroma har redan ett starkt fokus på olika livsmedel och här skulle OptiFreeze gedigna grundforskning och höga kompetens inom metodutveckling kunna bidra till att bredda applikationsportföljen. ArcAroma
Avance Gas Holding Ltd Reports Unaudited Results for the Third Quarter of 202025.11.2020 08:00:00 CET | Press release
BERMUDA, 25 November 2020 – Avance Gas Holding Ltd (OSE: AVANCE) today reported unaudited results for the third quarter 2020. HIGHLIGHTS An achieved time charter equivalent (TCE) rate of $23,283 on a discharge to discharge basis and $21,524/day on the basis of IFRS 15 accounting standard, compared to $28,453/day and $28,932/day in Q2 2020 respectively.The TCE rates in Q3 reflects ballast cost of approx. $4,000/day, corresponding to an adjusted TCE rate of $27,283 in Q3. The ballast cost will recover into the following quarter.Daily operating expenses (OPEX) were $9,256/day, compared to $8,576/day in Q2 2020. OPEX was impacted by change of technical manager and Covid-19 related crew change expense representing approx. $900/day in Q3.A&G expenses were $727/day, up from $608/day in Q2.Secured funding for predelivery CAPEX of newbuilding program through two transactions In September, the sale of the 2003-built VLGC Avance was successfully completed. Following repayment of debt, the transac
Incap Corporation: Incap Group’s Business Review for January–September 2020: Back on track with good growth and profitability25.11.2020 07:30:00 CET | Press release
Incap Corporation Stock Exchange Release Business Review Q3 2020 25 November 2020 at 8.30 a.m. (EET) Incap Group’s Business Review for January–September 2020: Back on track with good growth and profitability July–September 2020 highlights The revenue of the third quarter amounted to EUR 28.1 million, showing an increase of 59.9% (7– 9/2019: EUR 17.6 million).Excluding revenue from AWS Electronics Group acquired in January 2020, the revenue increased organically by 10.7%.Adjusted EBIT was EUR 3.6 million (EUR 2.4 million), corresponding to 12.9% of revenue (13.7%).AWS Electronics Group acquisition related purchase price allocation (PPA) amortisation amounted to EUR 0.4 million (EUR 0.0 million) and non-recurring costs were EUR 0.0 million (EUR 0.2 million). Operating profit (EBIT) was EUR 3.3 million (EUR 2.2 million), an increase of 46.0%, corresponding to 11.6% of revenue (12.7%).Net profit for the period was EUR 2.4 million (EUR 1.8 million), an increase of 33.7%.In November 2020, In
FRO - Third Quarter and Nine Months 2020 Results25.11.2020 07:29:39 CET | Press release
Frontline Ltd. (the “Company” or “Frontline”), today reported unaudited results for the three and nine months ended September 30, 2020: Highlights Net income of $57.1 million, or $0.29 per diluted share for the third quarter of 2020 Adjusted net income of $56.4 million, or $0.29 per diluted share for the third quarter of 2020Reported total operating revenues of $247.4 million for the third quarter of 2020Reported spot TCEs for VLCCs, Suezmax tankers and LR2 tankers in the third quarter of 2020 were $49,200, $25,100 and $12,800 per day, respectivelyFor the fourth quarter of 2020, we estimate spot TCE on a load-to discharge basis of $22,600 contracted for 74% of vessel days for VLCCs, $12,600 contracted for 61% of vessel days for Suezmax tankers and $13,800 contracted for 65% of vessel days for LR2 tankers. We expect the spot TCEs for the full fourth quarter of 2020 to be lower than the TCEs currently contracted, due to the impact of ballast days at the end of the fourth quarter as well