2020 was indeed a challenging year on many fronts and also a successful year with only a slight decline in local currency sales, strengthened profitability and much improved cash flow. We all faced the consequences of a pandemic that has affected people and businesses around the globe. We also met challenges from strong currency head winds, altered demand and product mix, together with supply chain constraints, which impacted sales negatively in certain product categories and markets.
On the other hand, our initiatives to improve the group’s profitability and cash flow clearly rendered results, and Oriflame managed to deliver stable sales in local currency with strengthened profitability. Our strategic transformation from offline to online, which took off many years ago, equipped us well for the real acceleration in digitalization that took place last year.
Related Links
Annual Report 2020 (PDF)
Press release (PDF)
2019 consolidated statement of financial position reconciliation (PDF)
Oriflame Investment Holding Plc 2020 financial statements (PDF)
