11.08.24
Natura &Co announced its financial results for Q3 2024, reporting solid revenue growth and profitability. The company's total revenue reached $1.04 billion, an 18.5% increase over Q3 2023 in constant currency (CC), and a 17.4% increase in Brazilian reais.
Fábio Barbosa, CEO of Natura &Co, said,
"These third-quarter results demonstrate that the integration of Natura and Avon in Latin America, the Wave 2, is progressing well, and confirm that the reinvestments in marketing and technology since the beginning of the project are already improving sales performance. The integration of the brands in Mexico and Argentina in 2025 will also be crucial for advancing our margin recovery agenda. Wave 2 has already been implemented in much of the region, and we expect it to be completed by the end of next year."
Growth was attributed mostly to Natura Brazil and the recovery of Avon CFT. In the Hispanic markets, Natura also showed accelerated growth (almost double-digit increase YoY, excluding Argentina), although Avon's performance in the region partly offset this.
This quarter, following Avon Products Inc.'s Chapter 11 filing, Natura &Co deconsolidated the financial results of API and its subsidiaries.
As a result of this deconsolidation, Natura &Co recognized a non-recurring, non-operating loss of approximately $1,216 billion. This loss had no cash impact.
In July, Natura Cosméticos issued its 13th debenture of $225 million maturing in July 2029. This was the company's first Sustainability-Linked Bond in Brazil, which includes performance indicators related to the development of Amazonian bioingredients. It also replaced previous emissions that were repurchased, extending the company's debt maturity profile.
Barbosa concluded.
"Our triple bottom line fundamentals have also evolved, and as we celebrate a decade as a B Corp, we stood out in the Community pillar in our most recent recertification, thanks to the R$ 43 million invested in 2023 to support agro-extractive communities in the Amazon.”
“We also made progress on our Climate Transition Plan, with the addition of 20 new biogas-powered trucks, which now account for 35% of our heavy freight, resulting in an 82% reduction in emissions. These actions demonstrate our continued commitment to developing a regenerative economy,” he said.
Natura & Co Plans Possible Separation of Natura & Co Latam and Avon
Fábio Barbosa, CEO of Natura &Co, said,
"These third-quarter results demonstrate that the integration of Natura and Avon in Latin America, the Wave 2, is progressing well, and confirm that the reinvestments in marketing and technology since the beginning of the project are already improving sales performance. The integration of the brands in Mexico and Argentina in 2025 will also be crucial for advancing our margin recovery agenda. Wave 2 has already been implemented in much of the region, and we expect it to be completed by the end of next year."
Growth was attributed mostly to Natura Brazil and the recovery of Avon CFT. In the Hispanic markets, Natura also showed accelerated growth (almost double-digit increase YoY, excluding Argentina), although Avon's performance in the region partly offset this.
This quarter, following Avon Products Inc.'s Chapter 11 filing, Natura &Co deconsolidated the financial results of API and its subsidiaries.
As a result of this deconsolidation, Natura &Co recognized a non-recurring, non-operating loss of approximately $1,216 billion. This loss had no cash impact.
In July, Natura Cosméticos issued its 13th debenture of $225 million maturing in July 2029. This was the company's first Sustainability-Linked Bond in Brazil, which includes performance indicators related to the development of Amazonian bioingredients. It also replaced previous emissions that were repurchased, extending the company's debt maturity profile.
Barbosa concluded.
"Our triple bottom line fundamentals have also evolved, and as we celebrate a decade as a B Corp, we stood out in the Community pillar in our most recent recertification, thanks to the R$ 43 million invested in 2023 to support agro-extractive communities in the Amazon.”
“We also made progress on our Climate Transition Plan, with the addition of 20 new biogas-powered trucks, which now account for 35% of our heavy freight, resulting in an 82% reduction in emissions. These actions demonstrate our continued commitment to developing a regenerative economy,” he said.
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