Natura
November 9, 2022
Natura &Co Holding reported third-quarter 2022 consolidated revenue of 9.0 billion reais, down 5.7 percent in reais and up 2.2 percent in constant currency. Natura &Co Latam rose 10.2 percent and Aesop 21.5 percent in constant currency, while The Body Shop fell 19.5 percent and Avon International declined 8.1 percent, or 3.1 percent excluding Russia and Ukraine. The group posted a net loss of 560 million reais compared with net income of 273 million reais a year earlier. Adjusted EBITDA was 773 million reais with an 8.6 percent margin, and net debt was 8.8 billion reais.
In a same-day material fact, the company withdrew its previously disclosed guidance for consolidated revenue, EBITDA margin, net debt ratio, Avon International margin and investment, and Avon synergies.
Chief executive Fabio Barbosa outlined steps including integrating Avon and Natura in Latin America starting in Peru and Colombia in 2023 before Brazil, changes to Avon's footprint in markets such as India and Saudi Arabia, the closure of Avon's Suffern research site, IT outsourcing and rightsizing at The Body Shop.