Oriflame USA
April 23, 2024
Oriflame reported first-quarter 2024 euro sales of 156.5 million euros, down 25 percent from 208.3 million euros a year earlier, or down 19 percent in local currency, citing fewer members and softer activity across most markets amid macroeconomic and geopolitical pressures including the Russia-Ukraine war.
Adjusted EBITDA fell to 6.7 million euros from 16.8 million euros, with the adjusted EBITDA margin dropping to 4.3 percent from 8.1 percent. Adjusted net loss widened to 24.3 million euros from 6.8 million euros. Average active members declined to about 1.5 million from roughly 1.8 million a year earlier.
The company said its transformation program was delivering better-than-expected savings and working-capital results, and that its Beauty Community Model was live in more than 20 markets. The board also approved opening several new European Union markets-Denmark, Belgium, Luxembourg, Austria, Italy, France and Malta-for sales from its Netherlands entity in coming quarters.