Strategic progress
- A clear consumer journey adapted to distinct phases has been defined, to be supported by modern training tools and CRM. Work is ongoing (including tests in markets) to simplify our opportunity offering, and provide communication adapted to each phase.
- The portfolio optimisation has continued, ensuring a focused, profitable and easy to recommend product portfolio.
- The transition to a network of European manufacturing partners is progressing ahead of plan, to be completed by Q3 2026: 240 products awarded to new partners and 135 products already produced by Q1 2026.
- We are shifting to modern digital-first commercial planning, test started in January 2026 in one market.
- Our IT architecture is being modernised, and we are continuing to deploy AI to become simpler, faster and more profitable.
Financial highlights
- Sales in Euro decreased by 14%, corresponding to a 11% decline in local currencies. All regions recorded lower performance in the quarter compared to the prior year with Europe & CIS down 16.8%, followed by Asia at 13.2%, Türkiye & Africa at 13.1%, and Latin America showing comparatively smaller decline of 10.4%.
- Adjusted gross margin decreased by 280 bps year-over-year, with foreign exchange effects accounting for a negative impact of 90 bps. The decline in gross margin was primarily attributable to lower sales volumes, higher discount levels in commercial actions, an unfavorable product mix, and increased inventory provisions.
- Adjusted EBITDA was €-6.4m, reflecting the impact of lower sales, partially offset by reductions in selling expenses as well as administrative costs, with the Group maintaining a strong focus on cost discipline.
- Additional non-recurring costs amounting to €16.2m (€17.7m) were recorded during the quarter and excluded from the adjusted EBITDA.
- The quarter ended with a cash balance of €32.6m compared to €69.0m at the start of the quarter.
- Adjusted cash flow before financing activities amounted to €-23.9m, mainly reflecting lower EBITDA and an adverse impact from net working capital, particularly related to the settlement of high payables at year-end.
“Adjusted” figures exclude non-recurring and purchase price allocation (PPA) related items. For additional information refer to the condensed consolidated income statements in the full Interim Management Statement 1 January – 31 March 2026.
Other
The full report is available on Oriflame’s investor website: https://corporate.oriflame.com/investors/financial-reports/.
Conference call for the financial community
The company will host a conference call on the first quarter results on Tuesday 2 June 2026 at 13.30 CEST. The conference call will also provide an overview of the results for the full year 2025. The presentation by Anna Malmhake, CEO and President, and Jog Dhody, CFOO will be available on the website after the conference call.
Participant access numbers:
Sweden: +46 (0)8 5051 0031
United Kingdom: +44 (0) 207 107 06 13
United States: +1 (1) 631 570 56 13
Denmark: +45 3 272 7526
Finland: 080 011 6679
The conference call will also be audio web cast in “listen-only” mode through Oriflame’s website: www.oriflame.com or through the following link https://creo-live.creomediamanager.com/9b1e34e3-2cd8-4740-add5-8182a6c34409 .
The full report has not been audited by the company’s auditors.
For further information, please contact:
Janice Wood, IR@oriflame.com
About Oriflame
As a globally renowned beauty and wellbeing company, Oriflame has empowered individuals since 1967 through its diverse
portfolio of high-quality, innovative, and sustainable beauty and wellbeing products. It operates in over 60 markets with a community of 3 million Beauty Entrepreneurs and members worldwide. Oriflame has been named a European Climate Leader by the Financial Times and Statista for the past five years. Oriflame’s product range spans skincare, cosmetics, fragrances, personal care, and nutritional supplements, all crafted with care to promote holistic wellbeing. Guided by the values of Togetherness, Spirit, and Passion, Oriflame continues to make a positive impact on communities worldwide.
