Three months ended 30 September 2011
Nine months ended 30 September 2011
CEO Magnus Brδnnstrφm comments:
Nine months in line with outlook The first half of 2011 turned out more or less as planned for Oriflame. In the third quarter we had good results from the continued focus on improving operating margin, supported by price increases and consistent execution of key initiatives.
Weaker recruitment in CIS together with unstable market conditions lead to adjusted outlook In the third quarter we faced an even more competitive environment, especially in our core market CIS after several quarters of outperforming competition. Poor recruitment campaigns in the end of the quarter were clearly disappointing and give us reason to expect a slowing down in sales in the fourth quarter, leading to a short term effect on margins. Consequently, we adjust our full year outlook.
Solid strategy and positioning going forward We remain confident in our strategy and the geographic footprint supporting growth, with Asia increasing its importance for the group. I am pleased to see a continued positive trend in EMEA and the recovered growth in Latin America. We take on the current challenges in our core markets with the commitment to support both growth and improved profitability.
For further information, please contact:
Magnus Brδnnstrφm, Chief Executive Officer, Telephone: +352 691 151 930
Gabriel Bennet, Chief Financial Officer, Telephone: +41 798 263 713
Joakim Banestig, Sr. Director Investor Relations, Telephone: +41 791 033 521
Johanna Palm, Sr. Manager Investor Relations, Telephone: +46 765 422 672