Oriflame USA
April 21, 2022
Oriflame Holding Ltd said first-quarter 2022 Euro sales were 229.9 million euros, down 16 percent from a year earlier, while local-currency sales fell 15 percent. Adjusted EBITDA was 22.1 million euros with a 9.6 percent margin, and adjusted net profit was 9.9 million euros. Cash and cash equivalents were 103.8 million euros and the net secured debt ratio was 3.9.
The company said it closed operations in Ukraine after Russia's invasion, restricted Russian business by suspending investments, marketing, training, events, and online sales to end consumers, and designated its Russian subsidiaries as unrestricted under its notes indenture. The board postponed the proposed 30.5 million euro dividend for 2021. Chief executive Magnus Brannstrom said the war would continue to have a material impact and that cost control and price increases would intensify.