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Saturday 24.02.2018 | Name days: Diāna, Dina, Dins

Grindeks profit this year - 5.2 million lats

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The company Grindeks profit hits 5.2 million lats in nine months of 2010 reporting a triple, compared to the exact period in 2009.

The concern turnover in nine months of 2010 reaches 46.9 million lats, which is 8.35 million lats or 21.7% more than in nine months of 2009. Gross profit margin of the period forms 54.6%, while net profit margin – 11.1%, the business portal BNN was informed by Grindeks.

The company exports to 51 countries all over the world, and the export production amounts to 44.5 million lats, which is 7.9 million lats or 21.6% more than in the exact accounting period of 2009.

The sales volume of final dosage medicines in nine months of 2010 amount to 40.9 million lats, which is an increase of 6.15 million lats or 17.7%. Final dosage medicines to the main markets – Russia, other CIS countries and Georgia amounted to 35.7 million lats, while in the Baltics and Europe – 5.2 million lats.

The main active pharmaceutical ingredients export markets of the company are – Europe, Japan, USA, Australia, Pakistan and India. In nine months of 2010, active pharmaceutical ingredients sales brought 6.0 million lats, which is 2.2 million lats or 57.9% more than in the exact reporting period of 2009.

Nine months results report positive sales growth in both final dosage medicines and active pharmaceutical ingredients sales. The positive results have been achieved due to marketing and sales activities in Grindeks major markets, enhanced introduction of generic medicine and directional strategy, as well as strict costs control. The company’s future plans include determined business activities diversification – introduction of new products, entering new markets, increasing production capacity and well thought over investments in future development, says Board Chairman Jānis Romanovskis.


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  1. Urmas says:

    An example of a successful Latvian company.

    Thumb up 0 Thumb down 0

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