Interim report 1 January

3 months ended 30 June 2015

· Local currency sales decreased by 2% and Euro sales decreased by 3% to
€301.0m (€310.4m).
· Number of active consultants decreased by 6% to 3.0m.
· EBITDA amounted to €29.6m (€32.8m).
· Adjusted* operating margin was 8.3% (8.1%), resulting in an adjusted*
operating profit of €25.0m (€25.3m), negatively impacted by approximately 150
bps from currencies. Operating margin was 7.2% (7.7%) and operating profit
€21.7m (€24.0m).
· Adjusted** net profit amounted to €11.9m (€12.1m) and adjusted** EPS
amounted to €0.21 (€0.22). Net profit was €9.1m (€10.8m) and EPS €0.16 (€0.19).
· Cash flow from operating activities amounted to €25.3m (€12.0m).
· Third quarter update: The year to date sales development is unchanged in
local currency and the development in the third quarter to date is approximately
4% in local currency, positively impacted by timing within the quarter.
· In April, Oriflame signed a new Revolving Credit Facility amounting to €110m
in total with its existing core relationship banks which replaces the previous
€330m facility.
· In June the domicile of the Group was changed from Luxembourg to
Switzerland. The change was done through a successful share-for-share exchange
transaction with high acceptance level. The share of the new top holding
company, Oriflame Holding AG, was listed on the Nasdaq Stockholm exchange on 23
June and the SDR of Oriflame Cosmetics S.A. was delisted on 2 July. As a result
of the change in domicile, the interim report for January-June 2015 and
hereafter will be issued by Oriflame Holding AG.

* Adjusted for non-recurring items of €1.3m in the second quarter 2014
* Adjusted for non-recurring items of €3.2m in the second quarter 2015
**Adjusted for additional non-recurring items of (€0.5m) in the second quarter
2015

6 months ended 30 June 2015

· Local currency sales decreased by 1% and Euro sales decreased by 5% to
€608.9m (€637.6m).
· EBITDA amounted to €52.6m (€62.2m).
· Adjusted* operating margin was 6.9% (7.6%), negatively impacted by
approximately 200 bps from currency movements, partly offset by hedging and
positive price/mix effects as well as cost reductions, resulting in an adjusted*
operating profit of €42.2m (€48.3m). Operating margin was 6.4% (7.3%) and
operating profit €39.0m (€46.6m).
· Adjusted** net profit amounted to €23.1m (€24.0m) and adjusted** EPS
amounted to €0.42 (€0.43). Net profit was €20.4m (€22.3m) and EPS €0.37 (€0.40).
· Cash flow from operating activities amounted to €49.4m (€28.9m).

* Adjusted for non-recurring items of €1.7m during the period 2014
* Adjusted for non-recurring items of €3.2m during the period 2015
**Adjusted for additional non-recurring items of (€0.5m) during the period 2015

CEO Magnus Brännström comments
“We are pleased with the development in our key growth markets in Latin America,
Turkey, Africa & Asia contributing with 48 % of the total Group sales during the
second quarter. The strong growth in China continues and is now an increasingly
important part of the business.
Further substantial price increases to offset the devaluation in CIS,
foremost in Russia and Ukraine, were implemented according to plan with adverse
effect on volumes. Although a promising start in the third quarter, positively
impacted by timing within the quarter, reversing the volume trend for the Group
remains a challenge.
We continue to experience success from active online leaders as well as sales
of Skin Care and Wellness sets and routines – two important strategic building
blocks for all our markets.
The efforts of reducing our cost base and driving efficiency across all parts
of the organisation continues.”

Conference call for the financial community
The company will host a conference call on Thursday, 13 August at 9.30 CET.

Participant access numbers:
Luxembourg: +35 227 300 158
Sweden: +46 8 5055 64 53
Switzerland: +41 225 802 994
UK: +44 203 009 24 55
US: +1 855 228 37 19

Confirmation code: 384675#
The conference call will also be audio web cast in “listen-only” mode through
Oriflame’s website: www.oriflame.com or through http://edge.media
-server.com/m/p/pns3jmma

13 August 2015

Magnus Brännström
Chief Executive Officer

For further information, please contact:
Magnus Brännström, Chief Executive Officer, Tel: +41 798 263 754
Gabriel Bennet, Chief Financial Officer, Tel: +41 798 263 713
Johanna Palm, Sr. Director Investor Relations, Tel: +46 765 422 672

This information is such that Oriflame Holding AG is required to disclose in
accordance with the Swedish Financial Instruments Trading Act and/or the Swedish
Securities Market Act. The information was submitted for publication at 7:15 CET
on 13 August 2015.

Interim report 1 January – 30 June 2015

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