Natura
March 16, 2026
SAO PAULO, Brazil -- March 16, 2026
Natura reported fourth-quarter 2025 net revenue of 6.2 billion reais, down 12.1 percent from a year earlier and 3.4 percent in constant currency. The recurring EBITDA margin rose 700 basis points to 15.8 percent, with Latin America at 16.1 percent, and the full-year recurring margin improved 130 basis points to 14.6 percent.
Fourth-quarter net income from continuing operations was 186 million reais, or 620 million reais excluding a 434 million reais provision on a receivable related to The Body Shop. For the full year, net income from continuing operations was 463 million reais, or 974 million reais excluding the provision. Leverage ended at 1.31 times excluding The Body Shop. Digital revenue in Brazil rose 24.5 percent, and the recurring margin in the Hispanic Latin American markets improved 810 basis points to 7.5 percent.
The company said it began relaunching the Avon brand in Brazil and Mexico in March, following its sale of Avon International to Regent and of Avon Russia. "We have delivered on our commitment to expanding annual profitability, marking the fourth consecutive year of margin improvement," said Chief Executive Joao Paulo Ferreira.