Natura First Quarter Revenue Edges Up in Constant Currency as Latam Integration Lifts Margins

SÃO PAULO, May 14, 2024 --

Natura &Co reported first-quarter 2024 consolidated net revenue of 6.1 billion reais, up 1.1 percent in constant currency and down 5.7 percent in Brazilian reais, as Latin American brand integration offset weakness at Avon International.

Adjusted EBITDA reached 683 million reais with margin expanding 110 basis points year over year. Natura Brazil revenue rose 11.3 percent, while Avon Latam remained soft and Avon International revenue fell 4.7 percent in constant currency. Underlying net income was 116 million reais versus an underlying loss a year earlier.

Group Chief Executive Fabio Barbosa said Wave 2 integration of Natura and Avon in Latin America continued to drive productivity and gross-margin gains. He said management was still studying a possible separation of Avon and Natura announced in February and would update the market when the assessment concludes.