Oriflame Euro Sales Down 1%, Local Currency Sales Up 4%
Oriflame (ORI-SS—Stockholm) announced financial results for the third quarter ending September 30, 2018.
Euro sales decreased by 1 percent to €292.5 million. Euro sales amounted to €279.4 million in accordance with IFRS. Local currency sales increased by 4 percent. The number of registered actives was stable and amounted to 2.7 million.
For the nine months ended 30 September 2018, Euro sales decreased by 4 percent to €948.6 million. Euro sales amounted to €919.4 million in accordance with IFRS. Local currency sales increased by 3 percent.
“We entered the third quarter facing continued challenging market conditions in some of our key markets as well as difficult comparables with the 50th Anniversary activities prior year,” said CEO Magnus Brännström. “Measures focused on driving activity and recruitment to enhance sales growth in CIS and Latin America have proven successful yet had a negative operating margin impact in the quarter. The performance in Asia and Turkey was slower during the second part of the quarter, partly as a result of the macroeconomic conditions in Turkey and lower activity in China. Sales development into the fourth quarter is slightly above the previous quarter and actions focused on driving activity and recruitment are ongoing. We remain committed to return to long-term profitable growth.”
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