Betterware de Mexico, now known as BeFra, announced a 5.3% increase in net revenue year over year, and an 8% increase for the first six months of 2024. EBITDA was down 8.5% year over year with an EPS of $0.44. Free cash flow for the company aligned with historical levels.
The company stated that its balance sheet remains a strategic priority and that it is on track to achieve its objective of decreasing net debt to EBITDA to at least 1.5x by the end of 2024.
“BeFra demonstrated steady and encouraging growth once again this quarter, with net revenue increasing 5.3% and 8.0% in Q2 2024 and H1 2024, respectively,” said Luis G. Campos, BeFra Chairman. “The positive net revenue trend was consistent across all business units, reflecting more balanced growth and underscoring the effectiveness of our strategic growth initiatives and commercial excellence. The revenue growth also demonstrates the strength of BeFra’s business model and evidences sustainable expansion, establishing a strong foundation for continued success this year and beyond. We expect to achieve our 2024 guidance for EBITDA as well as revenue, as our seller base expands, and average order sizes continue growing.”
Betterware US is expected to transition out of its pilot phase in the second half of the year, while Betterware Peru is on track to launch in the first half of 2025.
