THE WHAT? Natura &Co has introduced its outcomes for the 2023 monetary 12 months. The Brazilian proprietor of Avon noticed income drop 8.5 p.c year-on-year in Brazilian Reais to BRL26.7 billion, though in fixed forex, consolidated web income rose 3.5 p.c versus 2022.
THE DETAILS Gross margin reached 63.8 p.c in 2023, up 410 bps versus the prior 12 months. Internet revenue totaled BRL 3 billion, an enchancment from a web lack of BRL2.8 billion a 12 months in the past.
THE WHY? Fabio Barbosa, Group CEO of Natura &Co, explains, “2023 marked a pivotal chapter within the firm’s historical past, setting the stage for the formidable horizons we intention to achieve in 2024. However a risky macro setting in Latin America, we kicked-off Wave 2, our most vital strategic mission aiming to mix Avon and Natura manufacturers within the area. Progress in Brazil, Peru and Colombia is underway, and the teachings learnt allowed us to implement a softer integration in Chile in early 2024.
“On our company technique, we delivered a leaner holding construction because the Enterprise models function with extra autonomy. Our simplification agenda has progressed markedly, due to the divestments of Aesop and The Physique Store, which allowed us to pay our debt and finish the 12 months with a robust web money place. The constructive free money circulation to agency, alongside our a lot stronger steadiness sheet, allowed us to begin shifting to a extra optimum capital construction, and consequently we’re asserting BRL 979 million in dividend funds for this 12 months.
