Today, on 26 August, financial statements of JSC “Grindeks” on the first half
of the year 2010 submitted to “NASDAQ OMX Riga” indicate that the net profit of
the Group of “Grindeks” (hereinafter - the Group) was 4.1 million lats in the
reporting period. It has risen by 0.7 million lats or 20.6% compared with the
first six months of 2009. In its turn, the Group's turnover of the first
half-year of 2010 was 32.1 million lats, which is by 2.3 million lats or 7.7%
more than during the first half-year of 2009. The Group's gross profit margin,
in the first half-year of 2010, was 56.4%, whereas, net profit margin comprised
12.8%.
During the reporting period the Group's production was exported to 47 countries
worldwide, for 30.5 million lats in total.
Sales volume of the final dosage forms of “Grindeks” amounted to 27.9 million
lats in the first half-year of 2010, which is by 0.6 million lats or 2.2% more
comparing to the results of the first half-year of the previous year. In the
first half-year of 2010 amount of “Grindeks” final dosage forms exports to the
main markets - Russia, other CIS countries and Georgia - comprised 24.4 million
lats. In its turn, turnover of the final dosage forms to the Baltic and other
European countries reached 3.5 million lats.
The main export markets for active pharmaceutical ingredients of “Grindeks” are
Europe, Japan, the USA, Australia, Pakistan and India. In the first half-year
of 2010, the APIs realization reached 4.2 million lats, which is by 1.7 million
lats or 68% more than in the first half-year of 2009.
“Grindeks” Chairman of the Board Janis Romanovskis: “Operating results of
“Grindeks” in the first half of the year are pleasing - stable growth is seen
in both final dosage forms, and active pharmaceutical ingredients` realisation.
The half-year turnover has reached the best half-year indicator of all time,
and this is confirmation of effective marketing and sales activities. Focusing
on the new products will help us to strengthen our market position and to
ensure growth dynamics.”
On “Grindeks”
“Grindeks” is the leading pharmaceutical company in the Baltic States. Its main
fields of action are: research, development, manufacturing and sale of original
products, generics and active pharmaceutical ingredients. “Grindeks”
specializes in the heart and cardiovascular, CNS and anti-cancer medication
therapeutic groups.
The Group of “Grindeks” consists of four subsidiary companies in Latvia,
Estonia and Russia, as well representatives and representative offices in
fourteen countries. Products of the company are exported to more than 40
countries and its export comprises more than 96% of the total turnover. The
main markets are: the Baltic States, Russia and other CIS countries, Japan and
the USA. JSC “Grindeks” shares are listed on the Official List of “NASDAQ OMX
Riga”.
Further information:
Laila Klavina
Head of the Communications Department, JSC “Grindeks”
Phones: (+371) 67083370, (+371) 29256012
Fax: (+371) 67083505
e-mail: laila.klavina@grindeks.lv
