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Friday 10.04.2020 | Name days: Anita, Anitra, Zīle
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Grindex profit last year – 7.1 million lats

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Last year, the holding group Grindex turnover comprised 65.1 million lats – an increase of 11.5 million lats or 21.5% more than in 2009. While, in the reference period, the group’s net profit attributable to the parent company’s shareholders accounted for 7.1 million lats a growth of 3.5 million lats, or 97.2% more than in 2009.

In 2010, the gross profit margin was 53.9%, while the net profit margin formed 10.9%. During the reference period, the holding group’s production was exported to 50 countries across the world, totalling 61.7 million lats, which is 10.9 million lats or 21.5% more than in the previous year, informs Grindex.

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

The sales volumes of ready-made medicinal products last year constituated 57.7 million lats – a rise of 9.5 million lats or 19.7%, compared to 2009. In 2010, the volume of ready-made product exports to Russia, other CIS countries and Georgia was 50.2 million lats, which is 8.3 million lats or 19.8% more than a year ago. In the Baltic States and other European countries, the sales volume of ready-made medicines amounted to 7.5 million lats – 1.2 million lats or 19% more than in 2009.

Last year, the active pharmaceutical ingredient sales volume reached 7.4 million lats – an increase of 2 million lats or 37%, compared to 2009. Such result was achieved due to the rise in demand after introducing active pharmaceutical ingredients for ADHD in 2009. With the growing market demand, Grindex active pharmaceutical ingredient zopiclone sales have also mounted. Overall, the company launched 17 active pharmaceutical ingredients. In 2010, Germany and the Netherlands were the main active pharmaceutical ingredient export markets.

The 2010 performance indicators show positive sales increase – a stable growth was observed in the ready-made medicament sales, as well as in active pharmaceutical ingredient business. Last year, the company successfully launched itself in new ready-made product markets in the Eastern European countries, and expanded its product assortment with new medicines, reveals Jānis Romanovskis, the Chairman of the holding group’s Board.

In 2010, the company continued to implement the investment programme. By investing 1.6 million lats in 2010, the enterprise completed an international clinical study on the original product Mildronate impact on stenocardia treatment. The second major project – new ADHD production facility construction, which is set for completion in the first half of 2011. The project provides for investments of almost 6 million lats, and to implement it the company has signed an agreement with the Latvian Investment and Development Agency on the European Regional Development Fund co-financing at the extent of 2.8 million. lats.


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  1. T.P says:

    Medicines market is the most speculative one.

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