Natura
November 7, 2024
SAO PAULO, November 7, 2024 --
Natura &Co reported third-quarter 2024 total revenue of 6.0 billion reais, up 18.5 percent in constant currency and 17.4 percent in Brazilian reais, led by Natura Brazil and a rebound at Avon cosmetics, fragrance and toiletries. Recurring EBITDA rose 52 percent to 870 million reais, with the margin expanding 340 basis points to 14.6 percent.
Following Avon Products Inc.'s Chapter 11 filing, Natura deconsolidated API and its subsidiaries and recognized a non-recurring, non-operating, non-cash loss of about 7.0 billion reais from writing off its investments in API and impairing related receivables. Chief Executive Fabio Barbosa said Wave 2 integration of Natura and Avon in Latin America is progressing and is expected to finish by the end of 2025, with Mexico and Argentina still ahead.
Natura Cosmeticos issued a 1.3 billion real sustainability-linked debenture in July maturing in 2029. The group ended the quarter with a net debt to recurring EBITDA ratio of 1.5 times and 3.5 billion reais in cash.