Year-end report 1 January – 31 December 2017

3 months ended 31 December 2017

  • Local currency sales increased by 14%, slightly impacted by positive timing. Euro sales increased by 7% to €380.1m (€355.1m).
  • Number of registered actives increased by 2% to 3.1m.
  • EBITDA amounted to €63.5m (€49.0m).
  • Operating margin was 14.8% (11.8%), negatively impacted by 210 bps from currencies, and operating profit was €56.3m (€42.0m).
  • Net profit was €35.8m (€25.2m) and diluted EPS €0.62 (€0.44).
  • Cash flow from operating activities was €79.0m (€61.7m).
  • The first quarter to date sales development is approximately 10% in local currency.

12 months ended 31 December 2017

  • Local currency sales increased by 11% and Euro sales increased by 9% to €1,363.1m (€1,249.4m).
  • Euro sales in the largest market in each Global Business Area amounted to; Russia €241.5m (€210.7m), China €190.4m (€139.1m), Mexico €88.5m (€81.2m) and Poland €51.5m (€47.6m).
  • EBITDA amounted to €191.8m (€148.2m).
  • Operating margin was 11.7% (9.5%), negatively impacted by 60 bps from currencies, and operating profit was €159.0m (€119.2m).
  • Net profit was €92.6m (€66.7m) and diluted EPS €1.62 (€1.18).
  • Cash flow from operating activities amounted to €122.7m (€113.1m).
  • The Board of Directors will propose to the 2018 AGM a total dividend of €2.60 per share for 2017, of which €1.60 (€1.00) per share is to be considered as ordinary and €1.00 (€0.50) to be considered as extra dividend. The ordinary dividend is to be paid in equal quarterly instalments of €0.40 respectively starting in the second quarter 2018, and the extra dividend is to be paid during the second quarter 2018.

Significant events after the end of the quarter

  • As a consequence of the strong 2017 year-end results and in accordance with the terms of the Company’s share incentive and retention plans, the Board has resolved to deliver achievement shares totalling 729,921 shares, out of which 688,401 will be issued as new shares under the Company’s conditional share capital and the rest from the Company’s treasury shares and/or up to 40,000 shares to be repurchased on Nasdaq Stockholm. Following the issuance, the Company’s total number of shares will amount to 56,442,366 shares.
  • The Board of Directors has resolved to continue with its long-standing practice of offering key employees of the Oriflame Group to annually invest in a share incentive plan, and has resolved to during the first quarter 2018 implement a share incentive plan for the investment year 2018. The main terms and conditions of the new share incentive plan are consistent with those of the current share incentive plan.
  • Co-founder and Board member Jonas af Jochnick has informed the Nomination and Governance Committee and the Board that he will not be available for re-election to the Board.
  • As of January 1 2018, the Group is introducing IFRS 15 and is making an early adoption of IFRS 16. This is expected to impact the income statement and balance sheet at different levels. High-level pro-forma figures are available in the report

CEO Magnus Brännström comments

“2017 was another year of healthy Euro growth and double-digit local currency growth, also reflected in the fourth quarter. We delivered very strong profitability improvements this year, above our expectations. Our strategic categories – Skin Care and Wellness sets and routines – served as significant drivers of growth and price mix development, with further results achieved by the efficiency measures in manufacturing and supply chain. We have now spent over 50 years of constantly adopting to changing and challenging environments, a reality we will continue to be faced with. Looking ahead, I believe our social direct selling business model, online positioning and asset-light company structure make Oriflame more relevant than ever. We stay committed to our long-term financial targets – we have a more balanced geographical footprint with growth opportunities and the right people to make it happen.”


A Swedish translation is available on

Conference call for the financial community
The Company will host a conference call on Thursday, 15 February 2018 at 9.30 CET.

Participant access numbers:
SE: +46856642664
DK: +4535445575
FI: +358981710491
UK: +442030089809
NO: +4723500265
US: +18558315945

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

This report has not been audited by the Company’s auditors.

February 15, 2018

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. The information was submitted for publication, through the agency of the contact person set out above, at 07:15 CET on February 15, 2018.


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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