AS Olainfarm announced consolidated and unconsolidated sales results for the month and year to date ended December 2019. For the month, on consolidated basis, the company indicate that revenues decreased by 41% compared to the same month the year before and reached EUR 6.5 million.

At the same time consolidated results for the entire year show that revenues reached EUR 137.7 million, which is an increase by 12%, compared to 2018.

For the month, on unconsolidated basis, the company indicate that revenues decreased by 55% compared to the same month the year before and reached EUR 3.721 million.

At the same time unconsolidated results for the entire year show that revenues reached EUR 105.110 million, which is an increase by 13%, compared to 2018.

The company provided earnings guidance for the year 2020. When looking at 2020, sales forecast in first quarter is reflecting a modest sales due to stock building in Russia in fourth quarter of 2019. Although the implementation of serilization is delayed to July 2020, it will have no negative impact on the financial projections for entire 2020.