According to an announcement by Oriflame in the three months ended 31 March 2011 local currency sales increased by 7% and Euro sales increased by 10% to €396.8m (€361.9m). Excluding Oriflame's discontinued business in Iran, sales growth was 10% in local currency.
The average size of the sales force increased by 9% to 3.8m consultants and closing sales force was up by 8%. EBITDA amounted to €53.3m (previous Q1 €49.3m). Adjusted operating margin was 11.8% (11.7%) resulting in an adjusted operating profit of €46.7m (€42.2m). Adjusted net profit amounted to €31.5m (€37.2m). Cash flow from operating activities amounted to €16.5m (€20.7m).
"I am pleased to see a strong growth in Asia and a turnaround in the EMEA region with several of our large markets growing with increased profitability. This is driving overall profitability for the company and I feel confident that we will be able to deliver on our outlook for the full year despite the unpredictable market conditions in our core markets in Eastern Europe and CIS," CEO Magnus Brännström comments.