As earlier communicated, business conditions in Iran has deteriorated in recent months. The authorities have now closed Oriflame's operation in Teheran. The authorities have also detained three members of staff and two sales consultants without disclosed reasons. Oriflame has not at present access to detailed information relating to the background to or effects of the current situation. Iran represents some 20% of the sales in the Asia region. Despite the development in Iran, Oriflame confirms the Group's outlook for 2010 in regard to sales, whereas the operating margin, due to potentially lost sales in Iran, is now expected to be around 12% for the full year (earlier communicated to be above 12%). In addition, a definite closure of the operations in Iran may lead to extraordinary costs in 2010 of approximately €10 million. For additional information, please contact: Gabriel Bennet, CFO, telephone: +41 798 263 713 [HUG#1439412]
Oriflame Cosmetics - Operations in Iran closed down by the authorities
| Quelle: Oriflame Cosmetics S.A.