Oriflame USA
March 18, 2025
Oriflame said fourth-quarter 2024 euro sales fell 15 percent to 168.7 million euros from 199.1 million euros a year earlier, or 12 percent in local currencies, as lower membership cut sales in every region. Adjusted EBITDA was 5.3 million euros, with the margin flat at 3.1 percent, and the adjusted net loss widened to 54.0 million euros from 19.6 million euros. Full-year sales fell 20 percent to 604.2 million euros.
The company said it faces uncertainty about its ability to continue as a going concern after several years of weak results and tight liquidity, but that the uncertainty should be significantly reduced by a recapitalization agreed in March 2025 with its shareholders and holders of more than 80 percent of its notes, which is conditional on extending its revolving credit facility. Cash stood at 62.0 million euros at year-end, with 45.0 million euros drawn on the credit facility.
Oriflame said its Beauty Community Model covered 42 markets representing more than 75 percent of sales and that total members were down 5 percent from the prior year-end. The board resolved not to pay any dividends in 2025.