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Update: preliminary and unaudited key figures for the fourth quarter 2018 (*IFRS)

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Oriflame is updating the market with preliminary unaudited key figures for the fourth quarter 2018, showing a shift in the geographical mix and maintaining a stable underlying profitability. Asia & Turkey recorded a sales decline during the quarter, while an improved sales momentum was seen in Latin America, Europe & Africa and CIS. Given the company’s financial position and profitability, the Board of Directors has the intention to propose to the 2019 AGM a total dividend in line with last year’s ordinary dividend.

Preliminary and unaudited key figures Q4 2018 (Q4 2017, FY 2018)

  • Local currency sales increased by 1% with a euro sales decrease of 3% to €370m (€380.1m, FY €1,319m).
  • Operating margin amounted to 13.5% (14.8%, FY 11.3%), negatively impacted by around 140 bps from currencies, and operating profit amounted to €50m (€56.3m, FY €149m).
  • Net profit amounted to €33 (€35.8m, FY €96m) and diluted EPS to €0.57 (€0.62, FY €1.68).
  • The net debt at hedged values/EBITDA ratio amounted to 0.25 compared to -0.02 in 2017.

Preliminary and unaudited geographical sales mix Q4 2018

  • Latin America: local currency sales increased by 6% (euro sales increase of 5%).
  • Europe & Africa: local currency sales increased by 7% (euro sales increase of 7%).
  • CIS: local currency sales increased by 5% (euro sales decrease of 2%).
  • Asia & Turkey: local currency sales decreased by 8% (euro sales decrease of 13%).

Dividend proposal
Based on the preliminary unaudited results and financial position, and in line with the company’s dividend policy, the Board of Directors has the intention to propose to the 2019 AGM a total dividend of €1.60 (to be compared with 2018 AGM €1.60 ordinary dividend + €1.00 extra ordinary dividend).

The company remains in a closed period until the full year-end report will be published on February 14, 2019 according to the company’s financial calendar and policy.

For information, please contact:
Gabriel Bennet, Chief Financial Officer +41 798 263 769
Nathalie Redmo, Sr. Manager Investor Relations, +41 799 220 173

This information is inside 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 08:05 CET on January 18, 2019.

*IFRS - Clarifying information
The preliminary unaudited figures and comments above are excluding the impact of IFRS 15, IFRS 16 and related accounting alignments. The numbers are fully comparable with the 2017 reported figures.

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 €1.4 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. For more information about Oriflame, please visit www.oriflame.com. 

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