Oriflame sees 2% decrease in local currency sales
Euro sales remain stable at €410.6m
Swedish direct seller Oriflame has reported a local currency sales drop of 2% in the three months ended 31 December 2012.
The average size of the sales force also registered a decrease, down by 7% to 3.2m Oriflame Consultants, while the closing sales force was down by 5% to 3.4m. Euro sales did remain stable at €410.6m and EBIDTA totalled €64.2m, while adjusted operating margin came in at 13.7% resulting in an adjusted operating profit of €56.2m. Furthermore, cash flow from operating activities amounted to €77.9m.
CEO Magnus Brännström said: “I am pleased to see an improvement of the sales development compared to the third quarter. Despite the challenges we have seen during the year, we have achieved improved operating margin and an excellent cash flow. For 2013, we remain confident with the strategy laid out for the company which provides a solid base for our ambitions to return to sales growth.”
