Betterware de México, S.A.P.I. de C.V., now known as BeFra, announced its financial results for the fourth quarter of 2024. Net revenue during the quarter grew by 11.1%, which was primarily due to a 22.2% increase in sales in its Jafra Mexico segment. Betterware de Mexico revenue grew 1.5% and maintained growth momentum. Full-year revenue rose 8.4%, with the Jafra Mexico segment increasing 13%. Betterware de Mexico rose 4.6% year-over-year, while Jafra US remained stable. Full year revenue was $689 million.
EBITDA for the fourth quarter declined 5.8%, which the company said was mainly driven by a 17.3% decline in Jafra Mexico’s EBITDA after prior years’ synergies and cost optimization benefits were seen reflected in the previous year’s quarter. Betterware Mexico’s EBITDA increased 31.8% after performance and promotional initiatives and expense controls were implemented in the fourth quarter of 2024. Full-year EBITDA increased 2%, but remained slightly below guidance.
“2024 was a year filled with achievements,” said Luis G. Campos, BeFra Chairman of the Board. “We maintained our growth momentum with double-digit revenue growth of 11.1% in the last quarter compared to the previous year. Jafra Mexico was a key driver of this success, achieving remarkable 22.2% growth in the same period. Also, noteworthy was the performance of Betterware Mexico, which, despite persistent market challenges, including a slowdown in durable-goods consumption trends in Mexico, delivered revenue results 1.5% above the same quarter last year. Thanks to a strong Q4, BeFra concluded 2024 with [an] 8.4% revenue growth compared to 2023, with both companies contributing growth; Jafra Mexico grew 13.0% while Betterware Mexico grew 4.6%. We faced temporary challenges in profitability, but despite those we generated MX$2,775M in EBITDA, which was 2.0% above 2023. This was primarily driven by Jafra Mexico with a 15.5% increase in EBITDA, partially offset by Betterware Mexico, where EBITDA declined 9.6%, due to temporary challenges in the international supply chain during the second half of the year. However, we see this as a temporary situation, and expect Betterware Mexico’s EBITDA to return to historical levels during 2025.”
The company ended the year with what it described as a strong balance sheet that will provide “financial flexibility to further reduce debt leverage, continue investing in growth and efficiency initiatives and pay additional dividends.”
In the year ahead, BeFra plans to celebrate Betterware Mexico’s 30th anniversary and its expansion from 5,000 associates in 2001 to the 675,000 associates the company boasts today.
