Oriflame Cosmetics - Full Year Report

Year-end report 1 January - 31 December 2008
Three months ended 31 December 2008
§  Local currency sales increased by 16% and Euro sales increased by
15% to ¤394.4m (¤341.6m).
§  Average size of the sales force increased by 21% to 2.8m
consultants and closing sales force was up by 19%.
§  EBITDA increased by 14% to ¤74.3m (¤65.3m).
§  Operating margin was 16.7% (16.6%) and operating profit increased
by 16% to ¤66.0m   (¤56.7m).
§  Foreign exchange losses impacted the quarter negatively by ¤14.3m
(¤1.9m).
§  Net profit amounted to ¤39.3m (¤43.6m).
§  EPS after dilution and before restructuring costs amounted to
¤0.69 (¤0.77).

Twelve months ended 31 December 2008

§  Local currency sales increased by 23% and Euro sales increased by
20% to ¤1,329.1m (¤1,109.4m).
§  Operating margin before restructuring costs amounted 14.1% (14.0%)
resulting in an operating profit of ¤187.3m (¤155.4m).
§  Net profit before restructuring costs increased by 15% to ¤133.1m
(¤116.0m).
§  Diluted EPS before restructuring costs increased by 15% to ¤2.36
(¤2.05). Diluted EPS after restructuring costs amounted to ¤2.20
(¤1.63).
§  Cash flow from operating activities amounted to ¤91.3m (¤102.2m).

§  Oriflame's Board of Directors will propose an unchanged dividend
of ¤1.25 (¤1.25) per share, amounting to ¤70.4m and corresponding to
53% of net profit before restructuring costs.
§  New outlook for 2009: Sales growth is expected to be above 10% in
local currency and, due to unfavourable currency movements, the
operating margin is expected to be around 11% at the prevailing
exchange rates.
§  Long term financial targets are to achieve local currency sales
growth of around 10% per annum and to reach 15% operating margin.


This announcement was originally distributed by Hugin. The issuer is 
solely responsible for the content of this announcement.