Interim Report 1 January – 30 September 2016

3 months ended 30 September 2016

• Local currency sales increased by 12% and Euro sales increased by 6% to €278.9m (€263.2m).
• Number of active consultants decreased by 5% to 2.6m.
• EBITDA amounted to €30.8m (€25.1m).
• Operating margin was 9.0% (7.3%), impacted by -160 bps from currencies, and operating profit €25.2m (€19.1m).
• Net profit was €12.7m (€4.9m,) and diluted EPS €0.23 (€0.09).
• Cash flow from operating activities was €-5.8m (€4.1m).
• During the quarter $14.1m of the Private Placement debt was prepaid, corresponding to a cash outflow of €9.9m.
• The year to date sales development is approximately 13% in local currency and the development in the fourth quarter to date is approximately 7% in local currency.

9 months ended 30 September 2016

• Local currency sales increased by 13% and Euro sales increased by 3% to €894.3m (€872.1m)
• EBITDA amounted to €99.1m (€77.8m).
• Operating margin was 8.6% (6.7%, adjusted* 7.0%), impacted by -320 bps from currencies, and operating profit was €77.2m (€58.1m, adjusted* €61.3m).
• Net profit was €41.5m (€25.3m, adjusted** €28.0m) and diluted EPS €0.74 (€0.45, adjusted** €0.50).
• Cash flow from operating activities amounted to €51.4m (€53.5m).

*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
 

CEO Magnus Brännström comments

“We are pleased to report yet another quarter of Euro and local currency growth with healthy improvements in profitability. The strong performance in Asia & Turkey and Latin America continued, while in the CIS the focus remains on returning to sustainable growth and improving margins. The success from our online leaders and the sales of Skin Care and Wellness sets and routines reached new levels, serving as important drivers of the growth. The local currency sales development in the fourth quarter-to-date reflects slightly tougher comparables in the beginning of the quarter as well as volatility in some markets. We have a solid strategy, a strong financial position with low debt levels and a business model proven to meet challenging market conditions and changing environments.”


Conference call for the financial community
The company will host a conference call on Friday, 11 November 2016 at 09.30 CET.

Participant access numbers:
SE: +46 856642690
NO: +47 23500252
DK: +45 35445575
FI: +358 981710491
UK: +44 2030089802
US: +1 8557532235
        
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/161111
 
 
11 November 2016

Magnus Brännström
Chief Executive Officer

This report has not been audited by the company´s auditors.

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 November 11, 2016.


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

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