Oriflame Q3 Sales Up 6% To €278.9 Million
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.”
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 201
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