Betterware de Mexico S.A.P.I. de C.V. announced its third quarter results, revealing revenue stabilization at almost 2x its 2019 revenue. Between the fourth quarter of 2022 and the third quarter of 2023, the company delivered 3% growth, which the company believes has positioned them for year-over-year growth.
Consolidated net revenue for the third quarter of 2023 was down 1.5% sequentially to $173 million. The company attributes this slight dip in revenue to a smaller associate and distributor base and lower net revenue for Jafra US. However, Jafra’s inclusion increased the consolidated net revenue by 16.1% to $533 million.
Consolidated EBITDA for the third quarter of 2023 was down by 1% to $29.39 million. Year-to-date, consolidated EBITDA was up 10.8% to $105.54 million.
“We continue to focus on further differentiating the company through product innovation, technology and business intelligence, as we are confident that the future of our group will continue to be founded on the relations between our people and our customers, coupled with the technological tools we develop to ease our network’s sale experience and our customer’s purchase experience,” said Luis G. Campos, Betterware Executive Chairman of the Board. “We are certain that we will continue experiencing the positive trend we have seen year-to-date and since Jafra’s acquisition was completed, which have us well positioned to achieve sustained and profitable growth in the long term.”
Consolidated cash flow for the first nine months increased significantly to $90.74 million from $19.7 million.
