AS “Olainfarm” receives „Baltic Corporate Excellence Award”

AS “Olainfarm” was named the best Latvian company listed on Baltic stock exchanges and was awarded „Baltic Corporate Excellence Award 2012”. AS “Olainfarm” this year was named second best company in the entire Baltics. During the last three years AS “Olainfarm” has demonstrated a very impressive improvement in valuations for Baltic Corporate Excellence Awards”, it has climbed from position 19 in the Baltics in 2010, to position 8 in 2011 to the second place this year.

| Source: Olainfarm Olainfarm

Olaine, July 10, 2012, 2012-07-10 16:00 CEST (GLOBE NEWSWIRE) -- Annual „Baltic Corporate Excellence Award” evaluation is conducted by financial analysts from „CE Services”, in order to identify which Baltic listed companies can both, maintain good financial results and good reputation and investor relations in a longer period of time. The award is also aimed to motivate other listed companies to improve their quality in terms of financial health, corporate governance and to strengthen their business model.

 Experts of “CE Services” have pointed out that AS “Olainfarm” has managed to improve its financial results mainly because of increased sales and reduction of fixed costs. Product portfolio of the company is well diversified (10 bestselling products make up 87% of total sales). Experts also have emphasized that, since AS “Olainfarm” is vertically integrated and has a good infrastructure, it is very flexible with respect to its production capacity.  Significant investments in marketing were started several years ago, that have allowed AS “Olainfarm” to increase its sales and market share in its major markets.

 Jurry of “Baltic Corporate Excellence Award 2012” consists from representatives of Swiss based “CE Asset Management AG”, Latvian “CE Services” and BA School of Business and Finance. 50% of the score came from quantitative factors, including strength of the balance sheet, profitability, efficiency of capital and operations, currently and historically (last 5 years). The other 50% came from a deeper analysis of the company. It covered business model of the company, management structure, financial management and overall conditions of the company’s market.

Lithuanian telecommunications company „Teo LT” was named best in Baltics and in Lithuania, “Harju Elekter” was named the best listed company of Estonia. 

 

A/s Olainfarm is one of the biggest pharmaceutical companies in Latvia with nearly 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 the Group are being exported to more than 30 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: +371 6 7013 717
         Cell: +371 2 6448 873
         E-mail: slapinsh@olainfarm.lv