Interim Management Statement 1 January – 31 March 2019

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Important information concerning IFRS

  • Oriflame has implemented IFRS 15 Revenue from Contracts with Customers from 1st January 2018. Early adoption of IFRS 16 Leases has been carried out to allow all changes to be implemented at the same time.
  • Unless otherwise stated, comparisons and comments on the numbers are now prepared according to the implemented IFRS 15 and IFRS 16.

Three months ended 31 March 2019

  • Local currency sales decreased by 6% and Euro sales decreased by 7% to €309.2m (€330.8m), of which 2 percentage points are related to a one-off IFRS effect.
  • Number of registered actives decreased by 5% and amounted to 2.9m.
  • Operating margin was 10.5% (10.5%), negatively impacted by 30 bps from currencies, and operating profit was €32.5m (€34.8m).
  • Net profit was €23.0m (€21.0m) and diluted EPS €0.40 (€0.36).
  • Cash flow from operating activities was €20.5m (€24.9m).
  • The year to date sales development is approximately -5% in local currency and the development in the second quarter to date is approximately -4% in local currency.

CEO Magnus Brännström comments

“Despite a weaker sales development and changed geographical mix, we are pleased to report a stable profitability for the quarter and continued healthy cash flow generation. While we are encouraged by the positive development in Latin America, Africa, Europe and most of the CIS markets, we continued to see a sales decline in Asia & Turkey impacted by challenging market conditions as well as governmental and legislative initiatives in China and Vietnam. The sales development during the second quarter to date reflects the performance in the first quarter. Oriflame has a balanced geographical footprint, and we will continue to take responsible steps adapted to each respective market to drive sales and healthy margins.”


A Swedish translation is available on

Conference call for the financial community
The Company will host a conference call on Thursday, 9 May 2019 at 9.30 CET.

Participant access numbers:
Denmark: +4582333194

Finland: +358981710520
Sweden: +46856642695
United Kingdom: +443333009267
United States: +18335268382
Norway: +47 23500243 (PIN: 40940005#)

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

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

May 9, 2019

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 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 May 9, 2019.

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


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