Two-year record
|
€ million (unless otherwise stated) |
2010 |
2009 |
|
Sales |
1,513.6 |
1,316.6 |
|
Gross profit |
1,002.5 |
874.8 |
|
Gross margin, % |
66.2 |
66.4 |
|
EBITDA |
184.4 |
167.0 |
|
Adjusted operating profit |
** 168.1 |
* 146.8 |
|
Adjusted operating margin, % |
** 11.1 |
* 11.1 |
|
Adjusted profit before tax |
** 146.0 |
* 118.6 |
|
Adjusted net profit |
** 128.3 |
* 101.7 |
|
Cash generated from operations |
139.7 |
176.9 |
|
Cash flow from operating activities |
90.3 |
131.7 |
|
Average operating capital |
368.6 |
319.2 |
|
Return on operating capital, % |
42.7 |
45.6 |
|
Average capital employed |
465.3 |
407.0 |
|
Return on capital employed, % |
34.4 |
35.9 |
|
Net interest-bearing debt |
*** 200.5 |
160.0 |
|
Interest cover |
5.6 |
6.1 |
|
Earnings per share, basic, € |
2.07 |
1.77 |
|
Earnings per share, diluted, € |
2.06 |
1.76 |
|
Average number of full-time equivalent employees |
8,353 |
8,281 |
* Before restructing costs in the EMEA region of €1.3m.
** Before restructing costs in the EMEA region of €0.7m and effect on operating profit from Iran impairment of €10.1m.
*** Net interest-bearing debt includes US loan fair value. The net interest-bearing debt would be €195.4m when US loan is measured at €/USD exchange rate of €1.36, reflecting the value of the corresponding currency swap.
Definitions
EBITDA
Operating profit before financial items, taxes, depreciation, amortisation and share incentive plan.
Cash generated from operations
Operating cash flow before interest and bank charges paid and before income taxes paid.
Cash flow from operating activities
Operating cash flow after interest and bank charges paid and after income taxes paid.
Operating capital
Total assets less cash and cash equivalents and non interest-bearing liabilities, including deferred tax liabilities.
Return on operating capital
Operating profit divided by average operating capital.
Capital employed
Total assets less non interest-bearing liabilities, including deferred tax liabilities.
Return on capital employed
Operating profit plus interest income divided by average capital employed.
Net interest-bearing debt
Interest-bearing debt excluding front fees minus cash and cash equivalents.
Interest cover
Operating profit plus interest income divided by interest expenses and charges.
Quarterly figures
|
2009 |
2010 | |||||||
|
Sales, €million |
Q1 |
Q2 |
Q3 |
Q4 |
Q1 |
Q2 |
Q3 |
Q4 |
|
CIS & Baltics |
196.9 |
168.5 |
145.9 |
213.8 |
205.1 |
208.0 |
187.3 |
260.6 |
|
EMEA |
97.1 |
98.3 |
85.5 |
114.6 |
98.3 |
100.5 |
90.4 |
118.7 |
|
Latin America |
14.6 |
16.2 |
15.3 |
16.5 |
17.4 |
22.4 |
22.0 |
22.4 |
|
Asia |
26.3 |
27.6 |
26.2 |
32.8 |
36.3 |
39.2 |
33.7 |
34.5 |
|
Manufacturing |
3.2 |
1.2 |
1.3 |
1.4 |
1.6 |
1.1 |
0.5 |
1.1 |
|
Other |
3.2 |
3.7 |
3.1 |
3.4 |
3.2 |
3.8 |
2.7 |
2.8 |
|
Oriflame |
341.3 |
315.5 |
277.3 |
382.5 |
361.9 |
375.0 |
336.6 |
440.1 |
|
Adjusted operating profit, €million |
Q1 |
Q2 |
Q3 |
Q4 |
Q1 |
Q2 |
Q3 |
Q4 |
|
CIS & Baltics |
33.6 |
23.7 |
11.4 |
38.1 |
31.3 |
30.3 |
23.6 |
49.8 |
|
EMEA |
13.3 |
14.7 |
11.3 |
19.7 |
10.7 |
13.9 |
9.7 |
19.8 |
|
Latin America |
(0.6) |
1.1 |
0.8 |
– |
0.4 |
0.8 |
0.9 |
0.9 |
|
Asia |
1.2 |
1.7 |
2.3 |
4.0 |
1.2 |
2.8 |
2.2 |
3.8 |
|
Manufacturing |
0.5 |
(1.3) |
(1.4) |
(1.0) |
1.3 |
4.1 |
4.9 |
3.9 |
|
Other |
(10.2) |
(7.6) |
(2.8) |
(5.8) |
(2.9) |
(14.0) |
(14.2) |
(17.2) |
|
Oriflame |
37.8 |
32.3 |
21.6 |
55.0 |
42.2 |
37.9 |
27.1 |
61.0 |
|
Average sales force, ’000 |
Q1 |
Q2 |
Q3 |
Q4 |
Q1 |
Q2 |
Q3 |
Q4 |
|
CIS & Baltics |
1,831 |
2,046 |
1,783 |
1,973 |
2,081 |
2,135 |
2,016 |
2,176 |
|
EMEA |
751 |
808 |
717 |
769 |
813 |
818 |
777 |
796 |
|
Latin America |
124 |
134 |
135 |
137 |
137 |
153 |
153 |
151 |
|
Asia |
418 |
429 |
386 |
406 |
466 |
470 |
442 |
431 |
|
Oriflame |
3,124 |
3,417 |
3,021 |
3,285 |
3,497 |
3,576 |
3,388 |
3,554 |
A number of factors impact sales and margins between quarters:
- The effectiveness of individual catalogues and product introductions
- Effectiveness of recruitment programmes
- Timing of sales and marketing activities
- The number of effective sales days per quarter
- Currency effect on sales and results