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GlobeNewswire
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Olainfarm: Sales of Olainfarm in October Shrink by 7%

Preliminary consolidated results of AS Olainfarm for October 2017 show that
company's sales have reached 9.51 million euros, which represents reduction by
7% compared to the same period of 2016.  The biggest sales increase during this
period was achieved in Poland, where it grew by 623%.  Sales to Moldova
increased by 180%.  Significant shipments during this period were also made to
Tajikistan.  Major sales markets of Olainfarm group during October 2017 were
Russia, Latvia and Ukraine. 

Olaine, 2017-11-15 16:57 CET (GLOBE NEWSWIRE) --

October 2017,              Sales, thsnd.   Changes to October  Share in total   
 consolidated sales         EUR             2016                sales           
--------------------------------------------------------------------------------
Russia                     3 434                         -18%                36%
--------------------------------------------------------------------------------
Latvia                     2 754                          18%                29%
--------------------------------------------------------------------------------
Ukraine                    1 143                           3%                12%
--------------------------------------------------------------------------------
Belarus                               518                 -5%                 5%
--------------------------------------------------------------------------------
Germany                               249                -11%                 3%
--------------------------------------------------------------------------------
Poland                                216                623%                 2%
--------------------------------------------------------------------------------
Tajikistan                            176  NA                                 2%
--------------------------------------------------------------------------------
Moldova                               149                180%                 2%
--------------------------------------------------------------------------------
Lithuania                             136                 40%                 1%
--------------------------------------------------------------------------------
Georgia                               105                  7%                 1%
--------------------------------------------------------------------------------
Other                                 630                -55%                 7%
--------------------------------------------------------------------------------
Total                      9 510                          -7%               100%
--------------------------------------------------------------------------------

Sales of pharmacies of SIA Latvijas Aptieka in October 2017 were 2.02 million
euros, which represents an increase by 25% compared to the same period of last
year.  Sixty-nine pharmacies were operating during October.  Sales of SIA
Silvanols in October 2017 were 0.4 million euros, which represents a reduction
by 25% compared to the same period of 2016.  SIA Silvanols was selling its
products in six European countries. Sales of SIA Tonus Elast in October were
0.62 million euros, which represents a reduction by 29% compared to October
2016.  SIA Tonus Elast sold its products in 15 countries in three continents. 

In ten months of 2017, according to the preliminary results, the consolidated
sales of AS Olainfarm reached 95.11 million euros, which represents an increase
by 7% compared to ten months of 2016.  The biggest sales increase during this
period was achieved in Germany, where sales increased by 118%.  Sales to The
Netherlands increased by 92%.  Biggest sales reduction took place in Ukraine,
where sales shrunk by 35%.  The major sales markets of AS Olainfarm group
during this period were Russia, Latvia, Ukraine and Belarus. 

10 months of 2017,          Sales, thsnd.  Changes to 10 months  Share in total 
 consolidated sales          EUR            of 2016               sales         
--------------------------------------------------------------------------------
Russia                      31 816                          17%              33%
--------------------------------------------------------------------------------
Latvia                      24 359                          13%              26%
--------------------------------------------------------------------------------
Ukraine                     8 554                          -35%               9%
--------------------------------------------------------------------------------
Belarus                     8 214                           20%               9%
--------------------------------------------------------------------------------
The Netherlands             3 831                           92%               4%
--------------------------------------------------------------------------------
Kazakhstan                  2 733                           16%               3%
--------------------------------------------------------------------------------
Germany                     1 554                          118%               2%
--------------------------------------------------------------------------------
Uzbekistan                  1 397                          -33%               1%
--------------------------------------------------------------------------------
Lithuania                   1 265                           15%               1%
--------------------------------------------------------------------------------
Poland                      1 222                           11%               1%
--------------------------------------------------------------------------------
Other                       10 168                          -3%              11%
--------------------------------------------------------------------------------
Total                       95 113                           7%             100%
--------------------------------------------------------------------------------

Sales of pharmacies of SIA Latvijas Aptieka in 10 months of 2017 reached 17.7
million euros, which represents an increase by 14% compared to ten months of
2016.   Sales of SIA Silvanols during this ten months period have reached 4.3
million euros, which represents an increase by 2%.  Products of SIA Silvanols
are sold to twelve European countries.  Sales of SIA Tonus Elast in ten months
was 6.8 million euros, and the company sold its products to 37 countries in
four continents. 

According to unconsolidated preliminary results, sales of AS Olainfarm in
October 2017 were 7.63 million euros, which represents a reduction by 5%
compared to October 2016.  The biggest sales increase was achieved in Poland,
where sales grew by 552%.  Sales to Lithuania increase by 58%.  During October
2017, the company also made significant shipments to Tajikistan and Albania.
Biggest sales reduction was experienced in Kazakhstan, where sales shrunk by
35%.  Major markets of the company during October 2017 were Russia, Latvia,
Ukraine and Belarus.  During October 2017 Olainfarm sold its products to 27
countries in two continents. 

October 2017,               Sales, thsnd.   Changes to October  Share in total  
 unconsolidated sales        EUR             2016                sales          
--------------------------------------------------------------------------------
Russia                      3 151                         -18%               41%
--------------------------------------------------------------------------------
Latvia                      1 447                          33%               19%
--------------------------------------------------------------------------------
Ukraine                     1 125                           3%               15%
--------------------------------------------------------------------------------
Belarus                                518                 -1%                7%
--------------------------------------------------------------------------------
Germany                                236                -16%                3%
--------------------------------------------------------------------------------
Poland                                 187                552%                2%
--------------------------------------------------------------------------------
Tajikistan                             176  NA                                2%
--------------------------------------------------------------------------------
Lithuania                              115                 58%                2%
--------------------------------------------------------------------------------
Kazakhstan                              93                -35%                1%
--------------------------------------------------------------------------------
Albania                                 77  NA                                1%
--------------------------------------------------------------------------------
Other                                  502                -47%                7%
--------------------------------------------------------------------------------
Total                       7 627                          -5%              100%
--------------------------------------------------------------------------------

According to preliminary unconsolidated results, sales of AS Olainfarm in ten
months of 2017 reached 76.04 million euros, which represents an increase by 3%
compared to ten months of 2016.  The biggest sales increase during this period
was achieved in Germany, where sales grew by 116%.  Sales to The Netherlands
increased by 92%.  Biggest sales reduction was experienced in Ukraine, where it
shrunk by 36%.  Biggest sales markets of AS Olainfarm during this period were
Russia, Latvia, Ukraine and Belarus.  In total in ten months of 2017, AS
Olainfarm sold its products to 50 countries in five continents. 

10 months of 2017,           Sales,        Changes to ten        Share in total 
 unconsolidated sales         thsnd. EUR    months of 2016        sales         
--------------------------------------------------------------------------------
Russia                       29 096                         10%              38%
--------------------------------------------------------------------------------
Latvia                       12 043                          9%              16%
--------------------------------------------------------------------------------
Ukraine                      8 352                         -36%              11%
--------------------------------------------------------------------------------
Belarus                      8 120                          19%              11%
--------------------------------------------------------------------------------
The Netherlands              3 831                          92%               5%
--------------------------------------------------------------------------------
Kazakhstan                   1 868                           0%               2%
--------------------------------------------------------------------------------
Germany                      1 528                         116%               2%
--------------------------------------------------------------------------------
Uzbekistan                   1 397                         -33%               2%
--------------------------------------------------------------------------------
Lithuania                    1 047                          18%               1%
--------------------------------------------------------------------------------
Turkmenistan                 1 023                          -4%               1%
--------------------------------------------------------------------------------
Other                        7 738                          -4%              10%
--------------------------------------------------------------------------------
Total                        76 043                          3%             100%
--------------------------------------------------------------------------------

General meeting of shareholders of AS Olainfarm held on June 1, 2017 approved
operating plan of the company, providing that unconsolidated sales of the
company in 2017 will reach 96 million euros, while consolidated sales of the
company will reach 127 million euros.  According to these preliminary sales
numbers, in ten months of 2017 the company has met 79% of annual target for
unconsolidated sales and 75% of annual target for consolidated sales. 

                                        

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

         Information prepared by:
         
         Salvis Lapins
         JSC Olainfarm
         Member of the Management Board
         Rupnicu iela 5, Olaine, Latvia, LV 2114
         Phone: +371 6 7013 717
         Fax: +371 6 7013 777
         E-mail: Salvis.Lapins@olainfarm.lv
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