Today, on 30 August, the financial statements of the JSC “Grindeks” on the first half year of 2013, submitted to “NASDAQ OMX Riga”, indicate that the Group’s turnover in the first half year of 2013 was 38.4million lats, which is by 4.2 million lats or 12.3% more than in the first half year of 2012. Whereas, the net profit of the Group, related to the shareholders of the holding company, in the first half year of 2013 was 4.1 million lats that comparing to the first half year of 2012 has increased by 0.4 million lats or 10.8%. The gross profit margin in the first half year of 2013 was 64.3%, whereas, the net profit margin was 10.7%. In the first half year of 2013 the products manufactured by the Group were exported to 50 countries all over the world for the total amount of 36.4 million lats that comparing to the first half year of 2012 has increased by 4.2 million lats or 13%.
The sales volume of the final dosage forms of “Grindeks” in the first half year of 2013 was 33.2 million lats and has increased comparing to the same period of the previous year by 1.5 million lats or 4.7%. The main markets of the final dosage form are Russia, other CIS countries, Georgia and the Baltic States. The sales amount in Russia, other CIS countries and Georgia in the first half year of 2013 was 28.5 million lats, which is by 1.2 million lats or 4.4% more than in the first half year of 2012. Whereas, the sales amount of final dosage forms in the Baltic States and other European countries reached 4.7 million lats, which is by 0.3 million lats or 6.8% more than in the first half year of 2012.
In order to expand its presence in the Central Asian region “Grindeks” has opened new representative offices in the Kyrgyz Republic of and the Republic of Tajikistan.
The sales of active pharmaceutical ingredients in the first half year of 2013 reached 5.1 million lats, which is by 2.7 million lats or 112% (2.1 times more) than in the first half year of 2012. The most demanded active pharmaceutical ingredients of “Grindeks” are: zopiclone, oxytocin and ftorafur (tegafur).
JSC “Grindeks” Chairman of the Board Juris Bundulis: "Investing knowledge and experience, in the first half of the year “Grindeks” has ensured stable growth dynamics in turnover and profit figures. The first half of the year has also been important for various long-term decision-making – with the recent strategic meeting of all representative office top-managers, addressing efficiency issues for marketing and sales. This reassures company's ability to successfully respond to changes in domestic and export markets."
“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. The Group of “Grindeks” consists of four subsidiary companies in Latvia, Estonia and Russia, as well as representative offices in 13 countries.
“Grindeks” specializes in the heart and cardiovascular, CNS and anti-cancer medication therapeutic groups. A range of products covers a successful combination of original products and generics, with the original products Mildronate® and Ftorafur® and more than 100 forms of effective and safe generics included therein. Currently “Grindeks” produces 24 active pharmaceutical ingredients.
Products of the company are exported to 55 countries and its export comprises more than 95% of the total turnover. The main markets are: Russia and other CIS countries, the Baltic States, Germany, the Netherlands, Japan and the U.S.
To increase production capacity and develop infrastructure, since 2002 the company has accomplished many significant investment projects, investing 45.6 million lats over the years.
JSC “Grindeks” shares are listed on the Official List of “NASDAQ OMX Riga”. Major shareholders of JSC “Grindeks” are Kirovs Lipmans – 33.29%, Anna Lipmane – 16.69%, “AB.LV Private Equity fund 2010” – 11.38%, “Skandinaviska Enskilda Banken” (nominal holder) – 10.02%, “Swedbank” AS Clients Account (nominal holder) – 8.84%.
More information about the company – www.grindeks.lv/en/
Head of the Communications Department, JSC “Grindeks”
Phones: (+371) 67083370, (+371) 29256012
Fax: (+371) 67083505