Olainfarm: Sales of "Olainfarm" in February increase by 47%

Preliminary consolidated results of AS "Olainfarm" for February show that sales of the company have reached 7.31 million euro, which represents an increase by 47% compared to the same period one year ago. The biggest sales increases were achieved in Ukraine, where sales grew by 733347% and Turkmenistan, where sales grew by 554%. It should be noted however, that such impressive growth in Ukraine appears because in February were very insignificant. Sales to Latvia have grown by 29%, while sales to Russia increased by 21%. Major sales markets of AS "Olainfarm" in February 2014 were Russia, Latvia, Ukraine, Belarus, UK and The Netherlands. During February 2014, AS "Olainfarm" has also made significant shipments to Poland and Bulgaria.

Olaine, 2014-03-17 15:17 CET (GLOBE NEWSWIRE) --

February 2013, consolidated Share in total sales Changes to February results 2013 -------------------------------------------------------------------------------- Russia 33% 21% -------------------------------------------------------------------------------- Latvia 23% 29% -------------------------------------------------------------------------------- Ukraine 14% 733 347% -------------------------------------------------------------------------------- Belarus 10% 15% -------------------------------------------------------------------------------- UK 4% -31% -------------------------------------------------------------------------------- The Netherlands 3% NA -------------------------------------------------------------------------------- Poland 2% NA -------------------------------------------------------------------------------- Turkmenistan 2% 554% -------------------------------------------------------------------------------- Kazakhstan 2% -50% -------------------------------------------------------------------------------- Bulgaria 1% NA -------------------------------------------------------------------------------- Other 6% 30% -------------------------------------------------------------------------------- Total 100% 47% --------------------------------------------------------------------------------

In two months of 2014, according to preliminary figures, consolidated sales of AS "Olainfarm" were 16.97 million euro, which represents an increase by 33% compared to the respective period of 2013. The most rapid sales increases have been achieved in Spain, where sales grew by 843%, sales to Ukraine grew by 93% and sales to Belarus grew by 45%. Major sales markets of AS "Olainfarm" in two months of 2014 were Russia, Latvia, Ukraine, Belarus, UK and The Netherlands.

Sales of SIA "Latvijas aptieka", a pharmacy chain owned by AS "Olainfarm" in February 2014 were 1.24 million euro. There were 55 pharmacies operating in February. Sales of SIA "Silvanols" in February 2014 were 0.31 million euro.

2 months of 2014, consolidated Share in total Changes to 2 months of results sales 2013 -------------------------------------------------------------------------------- Russia 35% 1% -------------------------------------------------------------------------------- Latvia 21% 33% -------------------------------------------------------------------------------- Ukraine 13% 93% -------------------------------------------------------------------------------- Belarus 10% 45% -------------------------------------------------------------------------------- UK 5% 2% -------------------------------------------------------------------------------- The Netherlands 4% NA -------------------------------------------------------------------------------- Spain 2% 843% -------------------------------------------------------------------------------- Italy 1% 31% -------------------------------------------------------------------------------- Poland 1% NA -------------------------------------------------------------------------------- Uzbekistan 1% -9% -------------------------------------------------------------------------------- Other 7% 76% -------------------------------------------------------------------------------- Total 100% 33% --------------------------------------------------------------------------------

Sales of SIA "Latvijas aptieka", a pharmacy chain owned by AS "Olainfarm" in two months of 2014 were 2.5 million euro. Sales of SIA "Silvanols" during the same period were 0.6 million euro.

According to unconsolidated preliminary results of AS "Olainfarm", sales of the company in February were 6.28 million euro, which represents an increase by 50% compared to the same period one year ago. The biggest sales increase was achieved in Ukraine, where sales grew by 733347%. Sales to Turkmenistan grew by 554%, sales to Latvia grew by 39%, and sales to Russia grew by 21%. Major sales markets of AS "Olainfarm" in February 2014 were Russia, Ukraine, Belarus, Latvia, k and the Netherlands. In total during February sales to 25 countries have been made.

February 2014, unconsolidated Share in total Changes to February results sales 2013 -------------------------------------------------------------------------------- Russia 39% 21% -------------------------------------------------------------------------------- Ukraine 16% 733347% -------------------------------------------------------------------------------- Belarus 12% 15% -------------------------------------------------------------------------------- Latvia 11% 39% -------------------------------------------------------------------------------- UK 4% -31% -------------------------------------------------------------------------------- The Netherlands 4% NA -------------------------------------------------------------------------------- Turkmenistan 2% 554% -------------------------------------------------------------------------------- Poland 2% NA -------------------------------------------------------------------------------- Kazakhstan 2% -50% -------------------------------------------------------------------------------- Bulgaria 2% NA -------------------------------------------------------------------------------- Other 6% 11% -------------------------------------------------------------------------------- Total 100% 50% --------------------------------------------------------------------------------

According to preliminary figures, during two months of 2014 volume of unconsolidated sales of AS "Olainfarm" was 14.71 million euro, which represents an increase by 31% compared to the respective period one year ago. The most rapid sales increases were achieved to Spain and Ukraine, where sales grew by 843% and 93% respectively. According to preliminary unconsolidated results, major sales markets of AS "Olainfarm" in two months of 2014 were Russia, Ukraine, Belarus, Latvia, UK and The Netherlands. During these two months AS "Olainfarm" has been selling its products to 29 countries.

2 months of 2014, unconsolidated Share in total Changes to 2 months of results sales 2013 -------------------------------------------------------------------------------- Russia 41% 1% -------------------------------------------------------------------------------- Ukraine 15% 93% -------------------------------------------------------------------------------- Belarus 12% 45% -------------------------------------------------------------------------------- Latvia 10% 31% -------------------------------------------------------------------------------- UK 6% 2% -------------------------------------------------------------------------------- The Netherlands 5% NA -------------------------------------------------------------------------------- Spain 2% 843% -------------------------------------------------------------------------------- Italy 1% 31% -------------------------------------------------------------------------------- Uzbekistan 1% -9% -------------------------------------------------------------------------------- Kazakhstan 1% -48% -------------------------------------------------------------------------------- Other 7% 172% -------------------------------------------------------------------------------- Total 100% 31% --------------------------------------------------------------------------------

According to preliminary estimates of AS "Olainfarm", unconsolidated sales of the company in 2014 could reach 80 million euro, while consolidated sales could reach 90 million euro. According to these preliminary sales figures in two months of 2014 18% of annual unconsolidated sales target and 19% of annual consolidated sales target are met.

A/s 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 AS "Olainfarm" 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 A/s "OlainFarm" Tel: [phone] e-mail: [e-mail]