Oriflame USA
October 21, 2022
Oriflame Holding said third-quarter 2022 Euro sales were 220.0 million euros compared with 221.4 million euros a year earlier, a decline of 1 percent, while local-currency sales fell 11 percent. Adjusted EBITDA fell to 24.7 million euros, an 11.2 percent margin, from 48.3 million euros and a 21.8 percent margin. Adjusted operating profit was 17.2 million euros versus 40.4 million euros, and net profit dropped to 1.0 million euros from 20.5 million euros.
The number of members fell 15 percent to 1.912 million from 2.248 million. Total debt stood at 868.6 million euros, and the net secured debt ratio rose to 6.4 from 3.3. Cash was 96.6 million euros after the company repaid a 25.0 million euro revolving credit drawdown.
The company said a strategic review of its Russian assets was under way and that color cosmetics production had moved from Russia to India, while operations in Ukraine had reopened. The previously announced 30.5 million euro dividend will be paid late in the fourth quarter. Chief executive Magnus Brannstrom said the company was focused on cost control and pricing.