Oriflame released its Interim Management Statement for the first half of 2023, ending June 30, 2023. Including in this report are the company’s Euro sales totals for the second quarter, or the three months that ended June 30, 2023, which reached $233.6 million, a 14% decline. Adjusted EBITDA during this time totaled $15.2 million with an adjusted EBITDA margin of 6.6%. Adjusted operating profit was $7.5 million with an adjusted operating margin of 6.7%.
Euro sales for the six months ending June 30, 2023 decreased by 12% to $501.1 million, with a local currency sales decrease of 9%. Adjusted EBITDA totaled $36.8 million with an adjusted EBITDA margin of 7.4%.
Events that the company pointed to as significant during and after this six-month quarter included the appointment of Anna Malmhake as CEO and President and the strategic divestment of certain assets within Russia. These Russian transactions resulted in a net gain of $10.4 million.
