Natura
August 14, 2023
SÃO PAULO, Aug. 14, 2023 --
Natura &Co Holding reported second-quarter 2023 consolidated net revenue of 7.8 billion reais, up 1.9 percent at constant currency but down 4.1 percent in reais. Gross margin rose 430 basis points to 65.4 percent and adjusted EBITDA margin rose 230 basis points to 9.7 percent. Net loss was 732 million reais, slightly improved from 767 million reais a year earlier. Cash ended the quarter at about 3.7 billion reais.
Natura &Co Latam net sales rose 5.8 percent in constant currency, led by 19.5 percent growth at the Natura brand, while Avon International revenue fell 1.3 percent in constant currency. The Body Shop revenue fell 12.5 percent in constant currency. Aesop remained classified as discontinued operations pending the L'Oréal sale. Group chief executive Fabio Barbosa said Wave 2 of Natura-Avon Latin America integration began in Peru and Colombia and that Aesop closing was expected in the third quarter.
Natura &Co is a Brazil-based multi-brand cosmetics group that includes Avon, Natura and The Body Shop; the Npros directory lists the group as Natura.