Betterware de Mexico (BeFra) announced its third quarter 2024 financial results. Net revenue in the third quarter grew 6.6% year over year and 7.4% year to date. This is the fourth consecutive quarter of net revenue year-over-year growth for the company.
Adjusted EBITDA grew 11.7% from the same quarter of 2023, which the company believes reflects its ability to leverage growth, as well as the relevance of its diverse product portfolio between its Betterware and Jafra brands.
“I am pleased to report that BeFra delivered another quarter of strong results, with Q3 net revenue growing 6.6% year-over-year and 7.4% year-to-date, reflecting solid performance across all business units, and reaffirming the strength of our strategic plan,” said Luis G. Campos, BeFra Chairman of the Board.
Jafra Mexico saw strong profitability, which helped offset challenges seen by Betterware Mexico, which endured gross margin impacts by depreciation of the peso and increased shipping costs. The company expects Betterware Mexico to experience gross margin recovery in the fourth quarter.
“All in all, BeFra’s momentum continues to strengthen within the consumer product goods and the direct selling industry, leveraging our pillars of innovation, business intelligence, and technology,” Campos said. “Our evolving business model, cutting-edge brands, and financially strong business empower our sales force and keep us ahead. With 24 years of constant double-digit growth, we are not just on a sustainable growth path, we are poised to continue to thrive. As we head into Q4, I am confident we will meet our full-year targets, driven by our strong teams and sound strategies. Our focus on growth, innovation, efficiency and profitability across all business remains unwavering, ensuring that we are well-positioned for long-term success.”
