Oriflame Cosmetics First Quarter Report 2010

Interim report 1 January - 31 March 2010


 §  Local currency sales increased by 4% and Euro sales increased by 6% to
€361.9m (€341.3m).
§  Average size of the sales force increased by 12% to 3.5m consultants and
closing sales force was up by 6%.
§  EBITDA amounted to €49.3m (€43.3m).
§  Operating margin before restructuring costs increased to 11.7% (11.1%)
resulting in an operating profit of €42.2m (€37.9m).
§  Net profit before restructuring costs increased to €37.2m (€24.2m). §  EPS
after dilution and before restructuring costs amounted to €0.65 (€0.43).
§  Cash flow from operating activities amounted to €20.7m (€12.6m).
§  Oriflame completed a $165m issue of private placement notes after the close
of the period.


"As  we have communicated earlier,  the first  half of  2010 will be challenging
with  tough comparables. This has proven true as growth in the first quarter was
rather  modest. However, we are comfortable  with our outlook for 2010 of around
10% sales  growth with an operating margin  above 12% at current exchange rates.
Given the growth at the start of the year, we will focus our resources even more
towards top line growth. On the positive side, we see that currencies are moving
strongly in our favour and if that remains it will have a positive effect on our
operating margins for 2010," CEO Magnus Brännström comments.








[HUG#1406036]





    Oriflame Q1 2010 Report, PDF: 

http://hugin.info/134730/R/1406036/359681.pdf