Interim Report 1 January – 30 June 2016

3 months ended 30 June 2016

  • Local currency sales increased by 17% and Euro sales increased by 3% to €309.6m (€301.0m).
  • Number of active consultants decreased by 5% to 2.9m.
  • EBITDA amounted to €40.6m (€29.6m).
  • Operating margin was 9.9% (7.2%, adjusted* 8.3%), impacted by -390 bps from currencies, and operating profit €30.8m (€21.7m, adjusted* €25.0m ).
  • Net profit was €18.1m (€9.1m, adjusted** €11.9m) and diluted EPS €0.32 (€0.16, adjusted** €0.21).
  • Cash flow from operating activities was €35.8m (€25.3m).
  • The year to date sales development is approximately 14% in local currency and the development in the third quarter to date is approximately 12% in local currency.

*Adjusted for non-recurring items of €3.2m in the second quarter 2015
**Adjusted for additional non-recurring items of (€0.5m) in the second quarter 2015

6 months ended 30 June 2016

  • Local currency sales increased by 14% and Euro sales increased by 1% to €615.4m (€608.9m).
  • EBITDA amounted to €68.3m (€52.6m).
  • Operating margin was 8.4% (6.4%, adjusted* 6.9%), impacted by -390 bps from currencies, and operating profit was €51.9m (€39.0m, adjusted* €42.2m).
  • Net profit was €28.8m (€20.4m, adjusted** €23.1m) and diluted EPS €0.51 (€0.37, adjusted** €0.42).
  • Cash flow from operating activities amounted to €57.3m (€49.4m).

*Adjusted for non-recurring items of €3.2m during the period 2015
**Adjusted for additional non-recurring items of (€0.5m) during the period 2015

 Significant events after the end of the quarter

  • Oriflame will prepay $14.1m of the Private Placement debt during the third quarter 2016, corresponding to a cash outflow of €9.9m.

    
CEO Magnus Brännström comments

We are pleased with the healthy sales development during the second quarter where we report Euro growth despite strong currency headwinds, partly fueled by positive timing and a strong start of the quarter. The solid performance in Asia & Turkey and Latin America continued and further improvements could be seen in Europe, while the situation in Africa was continuously challenging. CIS experienced local currency growth in the quarter although margin improvement challenges remain. The third quarter has started in a promising way, although many of our markets continue to be volatile and we face highly uncertain geopolitical and macroeconomic conditions. We continue to execute on our strategic priorities to further strengthen our position and efficiency going forward.”


Conference call for the financial community
The company will host a conference call on Tuesday, 16 August 2016 at 11.00 CET.

Participant access numbers:
DK: +45 35445575
FI: +35 8981710493
UK: +44 2030089802
NO: +47 23500254
SE: +46 856642691
US: +18558315948    

The conference call will also be audio web cast in “listen-only” mode through Oriflame’s website: www.oriflame.com or through http://oriflame-ir.creo.se/160816
  
  
16 August 2016

Magnus Brännström
Chief Executive Officer

     

For further information, please contact:
Magnus Brännström, Chief Executive Officer Tel: +41 798 263 754
Gabriel Bennet, Chief Financial Officer Tel: +41 798 263 769
Nathalie Redmo, Investor Relations Manager Tel: +41 799 220 173

    
This information is information that Oriflame Holding AG is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out above, at 07:15 CET on August 16, 2016.
   
   
Oriflame Holding AG

Bleicheplatz 3, CH-8200 Schaffhausen, Switzerland
www.oriflame.com
Company registration no CHE-134.446.883


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About Us

Founded in 1967, Oriflame is a beauty company selling direct in more than 60 countries. Its wide portfolio of Swedish, nature-inspired, innovative beauty products is marketed through approximately 3 million independent Oriflame Consultants, generating annual sales of around €1.3 billion. Respect for people and nature underlies Oriflame’s operating principles and is reflected in its social and environmental policies. Oriflame supports numerous charities worldwide and is a Co-founder of the World Childhood Foundation. Oriflame is a Swiss company group listed on the Nasdaq Stockholm Exchange.

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