Interim Report 1 January – 30 June 2017

3 months ended 30 June 2017

  • Local currency sales increased by 11% and Euro sales increased by 12% to €347.6m (€309.6m).
  • Number of registered actives decreased by 2% to 2.8m.
  • EBITDA amounted to €47.9m (€40.6m).
  • Operating margin was 11.7% (9.9%), favourably impacted by 40 bps from currencies, and operating profit was €40.5m (€30.8m). 
  • Net profit was €19.9m (€18.1m) and diluted EPS €0.35 (€0.32), negatively impacted by a one-off translation reserve loss on exchange rate of around €3m. The tax rate was further unfavorably impacted by approximately 300 bps from withholding tax on extraordinary large intra group dividends during the quarter.
  • Cash flow from operating activities was €33.9m (€35.8m). 
  • During the quarter, Oriflame successfully completed a €70m issue of Euro denominated private placement notes bilaterally agreed with an international investor. 
  • The year to date sales development is approximately 9% in local currency and the development in the third quarter to date is approximately 10% in local currency.

6 months ended 30 June 2017

  • Local currency sales increased by 9% and Euro sales increased by 12% to €687.8m (€615.4m).
  • EBITDA amounted to €88.3m (€68.3m).
  • Operating margin was 10.2% (8.4%), positively impacted by 60 bps from currencies, and operating profit was €70.3m (€51.9m). 
  • Net profit was €39.4m (€28.8m) and diluted EPS €0.69 (€0.51). 
  • Cash flow from operating activities amounted to €32.5m (€57.3m).

CEO Magnus Brännström comments
“We are pleased to report double-digit growth in both Euro and local currency with healthy profitability improvements and a strong financial position. During the quarter, our strategic priorities continued to serve as important drivers of growth. CIS experienced local currency growth in the quarter, driven by ongoing productivity increases and positive timing. Asia & Turkey and Latin America were affected by fewer trading days and negative timing of catalogues ­– the underlying performance remained strong. The positive sales momentum for the Group has continued into the third quarter, in which Oriflame celebrates its 50th anniversary Gold Conference.”  

A Swedish translation is available on

Conference call for the financial community
The Company will host a conference call on Thursday, 17 August 2017 at 9.30 CET.

Participant access numbers:
SE: +46856642664
DK: +4535445576
FIN: +358981710492
UK: +442030089808
NO: +4723500252
US: 18558315947

The conference call will also be audio web cast in “listen-only” mode through Oriflame’s website: or through

August 17, 2017

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, Sr. Manager IR 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 17, 2017.

Oriflame Holding AG
Bleicheplatz 3, CH-8200 Schaffhausen, Switzerland
Company registration no CHE-134.446.883


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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