On “Grindeks” results in 2019

Written by Customer Service on . Posted in Public Companies.

Profit of “Grindeks” reaches 12.9 million euros in 2019
Today, on 28 February, the JSC “Grindeks” submitted the non-audited consolidated financial statements of 2019 to Nasdaq Riga. Non-audited financial results indicate that the Group’s profit in 2019 attributable to shareholders of the parent company was 12.9 million euro. The Group’s turnover in 2019 was 141.4 million euro. In 2019, the Group’s production was exported to 84 countries worldwide, a total of 132.0 million euro.The Chairman of the Board of JSC “Grindeks” Juris Hmelnickis: “The last year was a success as we managed to reach 12.9 million euro in profit – this is a guarantee for the further development of the Group. In the recent years, the pharmaceutical industry has been changing, and now pharmaceutical businesses must operate in an environment where customer needs are becoming more specific. “Grindeks” Group potential to offer solutions tailored to customer needs is very high. Our strategic business development goal is to be one step forward of the intense competition and expand “Grindeks” activities in our traditional markets, and in European Union, South East Asia countries and the USA.”Sales volume of the final dosage forms in 2019 was 132.2 million euro. In 2019, the sales amount in Russia, the other CIS countries and Georgia reached 77.9 million euro. In comparison to 2018, in 2019 the biggest increase in sales volume was reached in Belarus (20%), Georgia (18%), Moldova (13%) and Armenia (12%). Sales volume of the final dosage forms in the EU countries in 2019 reached 50.2 million euro. Sales volume in 2019, compared with 2018, increased by 3 times in France, by 2 times in Sweden and Czech Republic, by 52% in Hungary and by 46% in Great Britain.In 2019, sales of the active pharmaceutical ingredients reached 8.6 million euro. During this reporting period “Grindeks” mostly exported its active pharmaceutical ingredients to the EU countries, Japan, Australia and Canada. The most required active pharmaceutical ingredients of “Grindeks” in 2019 were dexmedetomidine, xylazine and pimobendan.
About “Grindeks”
“Grindeks” is an international pharmaceutical company focused on research, development, manufacturing and sales of original products, generics and active pharmaceutical ingredients. The Group of “Grindeks” has four subsidiary companies in Latvia, Estonia, and Slovakia as well as representative offices in 11 countries.“Grindeks” specializes in the heart and cardiovascular, CNS, anti-cancer and gastroenterological medication therapeutic groups. A range of products covers a combination of original products Mildronate® (meldonium*) and Ftorafur®, generics, food supplements and active pharmaceutical ingredients.In 2019, products of the company were exported to 84 countries. The most significant “Grindeks” markets include the EU countries, Russia and the other CIS countries, the USA, Canada and Japan.Further information:
Laila Klavina
Head of the Communications Department, JSC “Grindeks”
Phones: (+371) 67083370, (+371) 29256012
Fax: (+371) 67083505
laila.klavina@grindeks.lv
AttachmentGrindeks_Group_Q4_2019_Financial_Statements

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Cookie Notice

We use cookies to improve your experience on our website

Information we collect about your use of Goldea Capital website

Goldea Capital website collects personal data about visitors to its website.

When someone visits our websites, we use a third party service, Google Analytics, to collect standard internet log information (such as IP address and type of browser they’re using) and details of visitor behavior patterns. We do this to allow us to keep track of the number of visitors to the various parts of the sites and understand how our website is used. We do not make any attempt to find out the identities or nature of those visiting our websites. We won’t share your information with any other organizations for marketing, market research or commercial purposes and we don’t pass on your details to other websites.

Use of cookies
Cookies are small text files that are placed on your computer or other device by websites that you visit. They are widely used to make websites work, or work more efficiently, as well as to provide information to the owners of the site.