Oriflame - comment

Q125 revenues were better. The company had slightly underperformed our model in 2024, but on the face of it, the drop in revenues appears to be slowing. Adj. EBITDA turned negative at €-2.1m  vs €4m in our projections, but the revenue figure is more important. Nonetheless, there is now little to do in the name, and unless any of you would like us to continue monitoring the situation, we will be archiving this name.