Oriflame confident of long-term gains

Published: 10-Feb-2010

Swedish cosmetics group Oriflame Cosmetics AB has posted a rise of 14% in local currency sales and Euro-zone sales down 2% to €382.5m in the quarter ending 31 December 2009. Pre-tax profits fell from €74.3m to €59.1m.


Swedish cosmetics group Oriflame Cosmetics AB has posted a rise of 14% in local currency sales and Euro-zone sales down 2% to €382.5m in the quarter ending 31 December 2009. Pre-tax profits fell from €74.3m to €59.1m.

Restructuring costs in the EMEA region and global supply are expected to lead to costs of between €5m and €7m. Operating margin before taking restructuring into account dipped from 18.8% to 14.4% for the three-month period with operating earnings of €55m.

Sales in local currency for 2009 went up 15% while Euro sales amounted to €1.31bn, virtually matching the year earlier total. Net profits before restructuring fell from €133.1m to €101.7m.

Oriflame says that sales growth in 2010 will be in line with the long-term target of about 10% in local currency while margins are expected to be above 12% at current rates of exchange. It was decided to construct a new production facility and distribution centre in Russia.

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