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Monday 18.06.2018 | Name days: Madis, Alberts
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Grindex turnover grows 21.5% in 2010

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Baltic news, News from Latvia, BNN-NEWS.COM, BNN-NEWS.RULast year, the holding group Grindex turned 65.1 million lats, outdoing the 2009 performance by 11.5 million lats or 21.5%.

While during the reference period the group’s net profit attributable to the parent company’s shareholders formed 7.1 million lats, which is 3.5 million lats more than in 2009, spiking 97.2%, informs Grindex.

The 2010 gross profit margin was 56.4%, while the net profit margin – 10.9%. During the reference period, the holding group’s production was exported to 50 countries, totalling 61.7 million lats, which is 10.9 million lats or 21.5% more, compared to the previous year.

In 2010, the return on equity (ROE) was 13%, return on assets (ROA) – 11.3%; while liquidity was 2.54.

The ready-made medicinal product sales in 2010 constituted 57.7 million lats – an increase of 9.5 million lats or 19.7%, compared to 2009. Last year, the ready-made product exports to Russia, other CIS countries and Georgia formed 50.2 million lats, which is 8.3 million lats or 19.8% more than in 2009. In the Baltics and other European countries, the ready-made product sales comprised 7.5 million lats – 1.2 million lats or 19% more than in 2009.

In 2010, the active pharmaceutical ingredient sales amounted to 7.4 million lats – 2 million lats or 37% more than in 2009. Such performance was achieved thanks to surging demand for the active pharmaceutical ingredient for ADHD (Attention Deficit Hyperactivity Disorder), whose production was launched in 2009. The growing market demand also triggered the active pharmaceutical ingredient Zopiclone sales. Overall, the company marketed 17 active pharmaceutical ingredients. In 2010, the main active pharmaceutical ingredient export markets were Germany and the Netherlands.

The 2010 performance indicates positive sales – stable growth is observed in the ready-made medicine sales, as well as in active pharmaceutical ingredient business. Last year the company entered new ready-made medicine markets in the Eastern European countries and expanded its product range with new medicines, says Jānis Romanovskis, the chairman of Grindex Board.

Last year, Grindex continued to implement the investment programme. By investing 1.6 million lats in 2010, the holding group completed an international clinical study on the original product Mildronate impact on the treatment of stenocardia. The second ambitious project  is construction of a new ADHD medicine production facility to round up in the first half of 2011. It is planned to invest nearly 6 million lats in the project, therefore the company has concluded an agreement with the Latvian Investment and Development Agency on the European Regional Development Fund co-financing of 2.8 million lats.


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  1. Dee says:

    Impressive financial results, as usually with medicines producers.

  2. Lena says:

    Thanks alot – your answer solved all my probmles after several days struggling

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