Year-end report 1 January – 31 December 2010
Three months ended 31 December 2010
- Local currency sales increased by 8% and Euro sales increased by 15% to €440.1m (€382.5m).
- Average size of the sales force increased by 8% to 3.6m consultants and closing sales force was up by 9%.
- EBITDA amounted to €68.2m (€57.7m).
- Adjusted operating margin was 13.9% (14.4%) resulting in an adjusted operating profit of €61.0m (€55.0m).
- Adjusted net profit amounted to €55.7m (€41.5m).
- Adjusted EPS after dilution amounted to €0.97 (€0.73).
- Cash flow from operating activities amounted to €61.3m (€100.9m).
Twelve months ended 31 December 2010
- Local currency sales increased by 8% and Euro sales increased by 15% to €1,513.6m (€1,316.6m).
- Adjusted operating margins amounted to 11.1% (11.1%) resulting in an adjusted operating profit of €168.1m (€146.8m).
- Adjusted net profit amounted to €128.3m (€101.7m).
- Adjusted EPS after dilution amounted to €2.25 (€1.78).
- Cash flow from operating activities amounted to €90.3m (€131.7m).
- Oriflame’s Board of Directors will propose a dividend of €1.50 (€1.25) per share, amounting to €85.5m, corresponding to 67% of adjusted net profit.
- Outlook: Operating margins are expected to improve compared to 2010 while sales growth for 2011 is expected to be 5 - 10% in local currency.
For further information, please contact:
Magnus Brännström, Chief Executive Officer Telephone: +35 269 115 1930
Gabriel Bennet, Chief Financial Officer Telephone: +41 798 263 713
Patrik Linzenbold, Sr. Director Investor Relations Telephone: +46 765 422 709