Oriflame: Interim Report 1 January – 31 March 2015

Regulatory News:

3 months ended 31 March 2015

· Local currency sales increased by 1% and Euro sales decreased by 6% to €307.8m (€327.2m).

· Number of active consultants decreased by 1% to 3.4m.

· EBITDA amounted to €23.0m (€29.4m).

· Adjusted* operating margin was 5.6% (7.0%) resulting in an adjusted* operating profit of €17.2m (€23.1m), impacted by approximately -250 bps from currencies. Operating margin was 5.6% (6.9%) and operating profit €17.2m (€22.7).

· Adjusted* net profit amounted to €11.2m (€12.0m) and adjusted* EPS amounted to €0.20 (€0.22). Net profit was €11.2m (€11.6m) and EPS €0.20 (€0.21).

· Cash flow from operating activities amounted to €24.1m (€16.9m).

· Second quarter update: The underlying sales development in the second quarter to date is around -1% in local currency.

* Adjusted for restructuring costs €0.4m in the first quarter 2014.

Significant events after the end of 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 existing €330m facility (signed in May 2011 and with maturity in 2016). As part of the refinancing process, the covenants for the company’s existing Private Placement Notes and the new Revolving Credit Facility were aligned.

· On 8 May, a share-for-share exchange transaction, for the purpose of changing the domicile of the Group from Luxembourg to Switzerland, was announced.

CEO Magnus Brännström comments

"The overall market conditions remain very volatile in the CIS region, despite the recent strengthening of the Rouble, and we have seen a slow-down in Russia. In the quarter, we have implemented significant price increases, which have had short-term adverse effect on the volume. We will continue to sequentially implement the price increases and other measures we consider appropriate in order to secure both our margins and the income opportunity for our Consultants. The difficulties in some of our core markets are however balanced by the strong performance of our key growth regions Latin America, Turkey, Africa and Asia representing close to 45 percent of group sales in the quarter. While the strong growth in these regions is encouraging, we focus our strengths on getting back to sustainable growth in CIS and Europe.”

Conference call for the financial community

The company will host a conference call on Friday, 8 May at 9:30 CET.

Participant access numbers:

Luxemburg: +352 2 730 0158

Sweden: +46 8 505 564 53

Switzerland: +41 22 580 29 94

UK: +44 20 3009 2455

US: +1 855 228 3719

Confirmation code: 267700#

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/csgr7bgq

8 May 2015

Magnus Brännström

Chief Executive Officer

For further information, please contact:

Magnus Brännström, Chief Executive Officer, Tel: +352 691 151 930

Gabriel Bennet, Chief Financial Officer, Tel: +41 798 263 713

Johanna Palm, Sr. Director Investor Relations Tel: +46 765 422 672

Oriflame Cosmetics S.A. 24 Avenue Emile Reuter, L-2420, Luxembourg

www.oriflame.com

Company registration no B.8835

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