Hispanic countries that have implemented Wave 2 continue to boost Natura &Co’s profitability in Latin America SÃO PAULO, Aug. 13, 2024 /PRNewswire/ — Natura &Co (B3: NTCO3) today reported financial results for the second quarter of 2024 (2Q-24), showing improved revenue trends while margins continued to expand, especially in Hispanic countries where the second wave of the integration of Natura and Avon in the region was implemented. This positive performance, however, continued to be impacted by the ongoing sales deleverage at Avon International, which encompasses all global markets except Latin America. In addition, Natura &Co announced its support for the voluntary financial restructuring procedure of its non-operating subsidiary Avon Products, Inc. (API) initiated today in the U.S. through a Chapter 11 process to address pre-existing debts and liabilities. The proceedings are restricted to API and no impacts are expected on Avon brand operations outside the U.S., which are not part of the proceedings. Consolidated net revenue reached BRL 7.4 billion, up 5.7% vs. 2Q-23 (YoY) in constant currency (CC) and up 5.4% in reais (BRL), driven by Natura &Co’s operation in Latin America, whose revenues grew 10.0% YoY in CC (+4.3% ex-Argentina), offset by Avon International, whose revenues fell 8.4% YoY in CC. This improvement was mainly driven by the performance of both brands in Brazil. While Natura recorded another quarter of strong growth (+14.8% YoY), Avon posted a significant recovery compared to the previous quarter’s figures (from -11.3% in Q1-24 to …
Natura &Co shows improved revenue trends, with strong performance by Natura in Brazil and signs of stability at Avon in the country
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