Oriflame - Year end report
(Thomson Reuters ONE) - Year-end report 1 January - 31 December 2009Three months ended 31 December 2009§ Local currency sales increased by 14% and Euro sales decreased by 2% toEUR382.5m (EUR391.8m).§ Average size of the sales force increased by 18% to 3.3m consultants andclosing sales force was up by 18%.§ EBITDA amounted to EUR59.1m (EUR74.3m).§ Restructuring of operations in the EMEA region and global supply is estimatedto lead to restructuring charges of EUR5 - 7m of which EUR1.3m was taken in Q4 2009and the remaining is expected during the next 12-24 months.§ Operating margin before restructuring costs was 14.4% (16.8%) resulting in anoperating profit of EUR55.0m (EUR66.0m). § Net profit before restructuring costs amounted to EUR41.5m (EUR39.3m). § Cash flow from operating activities amounted to EUR100.9m (EUR86.2m). § EPS after dilution and before restructuring costs amounted to EUR0.73 (EUR0.69). § Credit facility of EUR400m securedTwelve months ended 31 December 2009§ Local currency sales increased by 15% and Euro sales amounted to EUR1,316.6m(EUR1,319.7m).§ Operating margins before restructuring costs amounted to 11.1% (14.2%)resulting in an operating profit of EUR146.8m (EUR187.3m).§ Net profit before restructuring costs amounted to EUR101.7m (133.1m). § Diluted EPS before restructuring costs amounted to EUR1.78 (EUR2.36). DilutedEPS after restructuring costs amounted to EUR1.76 (EUR2.20). § Cash flow from operating activities improved to EUR131.7m (EUR91.3m) § Oriflame's Board of Directors will propose an unchanged dividend of EUR1.25(EUR1.25) per share, amounting to EUR71.0m, corresponding to 70% of net profitbefore restructuring costs. § It was decided to build a new 150 - 200m unit production facility anddistribution centre in Russia with an expected capex of EUR125 - 175m over fouryears.§ Outlook: Sales growth for 2010 is expected to be in line with Oriflame's longterm target of around 10% in local currency and operating margins are expectedto be above 12% at current exchange rates.Long term financial targets are to achieve local currency sales growth of around10% per annum and to reach 15% operating margin.[HUG#1382512] Release in PDF: http://hugin.info/134730/R/1382512/341387.pdf
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Datum: 10.02.2010 - 01:16 Uhr
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