Interim Report 1 January – 30 September 2017
3 months ended 30 September 2017
- Local currency sales increased by 11% and Euro sales increased by 6% to €295.3m (€278.9m).
- Number of registered actives was stable at 2.6m.
- EBITDA amounted to €40.0m (€30.8m).
- Operating margin was 11.0% (9.0%), negatively impacted by 160 bps from currencies, and operating profit was €32.5m (€25.2m).
- Net profit was €17.4m (€12.7m) and diluted EPS €0.30 (€0.23). Following the successful refinancing of the Revolving Credit Facility during the quarter, the net profit was negatively impacted by a one-off amortisation of the replaced facility’s capitalised fees of around €1.0m.
- Cash flow from operating activities was €11.2m (€-5.8m).
- During the quarter, Oriflame signed a new Revolving Credit Facility amounting to €160m in total. The new five-year facility replaced the €110m facility.
- The year to date sales development is approximately 10% in local currency and the development in the fourth quarter to date is approximately 11% in local currency.
9 months ended 30 September 2017
- Local currency sales increased by 10% and Euro sales increased by 10% to €983.0m (€894.3m).
- EBITDA amounted to €128.3m (€99.1m).
- Operating margin was 10.5% (8.6%), negatively impacted by 10 bps from currencies, and operating profit was €102.8m (€77.2m).
- Net profit was €56.8m (€41.5m) and diluted EPS €0.99 (€0.74).
- Cash flow from operating activities amounted to €43.7m (€51.4m).
CEO Magnus Brännström comments
“During Q3 2017, we continued to execute on our strategic priorities resulting in yet another quarter of healthy growth and improved profitability. The overall performance in Asia & Turkey remained strong, although with variations within the region. The growth in the CIS continued, supported by sustained high productivity levels. Latin America was affected by the earthquakes and negative timing. Our efforts to improve the capacity utilisation in manufacturing continued to render results during the quarter and the number of registered actives was stable. The local currency sales development for the Group in the fourth quarter-to-date is in line with our long-term financial target.”
A Swedish translation is available on www.oriflame.com.
Conference call for the financial community
The Company will host a conference call on Wednesday, 8 November 2017 at 9.30 CET.
Participant access numbers:
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/171108
November 8, 2017
Chief Executive Officer
This report has not been audited by the company´s auditors.
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 November 8, 2017.