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Friday, 14.03.2025, 07:56
Latvia's Olainfarm pharmaceutical co raises sales to 5% in 2015

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The most rapid sales increase was achieved in the Netherlands, where sales grew 107 %. The biggest sales markets of Olainfarm in 2015 were Russia, Latvia, Ukraine, Belarus and the Netherlands.
In 2015, sales of the group's pharmacy chain Latvijas Aptieka was EUR 16.9 mln., which represents an increase by 13 % against 2014. Sales of Silvanols during this period were EUR 4.4 mln. which represents an increase by 26 % compared to a year before, when sales of Silvanols were EUR 3.5 mln.. During the 12 months of 2015, Silvanols sold its products in 13 countries on two continents, with assistance of Olainfarm to Belarus, Kazakhstan and Azerbaijan.
According to preliminary consolidated results for December 2015, sales of Olainfarm during this period were EUR 7.4 mln., which represents a 5 % drop compared to the same period of 2014. The biggest growth was achieved in Albania where Olainfarm sales increased 3.5 times, in the Netherlands (2.4 times), Georgia (2.4 times), and Tajikistan (89 %).
During December 2015, significant shipments have also been made to Uzbekistan. The major sales markets of Olainfarm in December 2015 were Russia, Latvia and the Netherlands.
Latvijas Aptieka pharmacy chain, which in December operated 62 pharmacies, increased sales 42 % year-on-year in December. Silvanols raised sales 24 % to EUR 0.52 mln., selling its products in four European countries and through Olainfarm in Belarus and Azerbaijan.
An annual general meeting of Olainfarm shareholders on June 11, 2015 approved the company's business plan, according to which unconsolidated sales in 2015 were supposed to reach EUR 87 mln., while consolidated sales were projected at EUR 100 mln. According to the preliminary sales figures, the company met 98 % of the annual unconsolidated sales target and 98 % of the annual consolidated sales target in 2015.
The company's largest shareholder is its board chairman Valerijs Maligins.