Natura &Co announced its third quarter financial results for 2024. Consolidated net revenue reached $1.04 billion during the quarter, fueled by strong performances by both Natura and Avon in Brazil. Recurring EBITDA was $150 million, up 52% year-over-year with a 14.6% margin, which the company described as “another quarter of solid profitability expansion.”
Avon Brazil saw revenue growth improve 14.4% year-over-year due to increased productivity and the implementation of the company’s new single checkout for both Avon and Natura. Avon Hispanic Latam revenue was up 19.8% year-over-year.
“As a consequence of Avon Products Inc.’s (“API”) voluntary Chapter 11 announced in August, Natura &Co is deconsolidating the results from API and its subsidiaries during this quarter,” said Fábio Barbosa, Natura &Co Group CEO. “As a result of this action, a non-cash/non-recurring -BRL 7.0bn loss was booked in Discontinued Operations in Q3, erasing the positive net income results from Continued Operations in the period. Any net loss that may exist in our year-end results could potentially be offset by our capital reserve with shareholder approval to allow our company to resume dividend distribution.”
