Betterware de Mexico S.A. de C.V. has completed its merger with DD3 Acquisition Corp. and become the first Mexican company to be directly listed on the NASDAQ Stock Market.
Betterware’s ordinary shares commenced trading on the NASDAQ Stock Market today, under the symbol, “BWMX.”
“This is the beginning of a new expansion phase that will bring us closer to becoming the leading home solutions consumer company in the country and an important player in the Americas,” said Luis Campos, executive chairman of Betterware. “I am grateful to the team for its the efforts and dedication to excellence and professionalism that brought Betterware to this important milestone on our growth plan. We are also delighted to become the first Mexican company directly listed on NASDAQ and further increase our compromise and commitment to our customers, employees and stockholders.”
In addition, Betterware announced preliminary unaudited financial results for the full-year 2019. Betterware’s financial and operational performance for FY 2019 set new records, among others, for Revenue, EBITDA, EBITDA margin, Profit and Loss and distribution network outreach.
2019 was highlighted by a solid performance and included the following results:
- Betterware’s distribution network reached approximately 417,000 active associates and 21,000 active distributors for a total of 438,000 as of December 31, 2019, representing a 28% year-over-year increase
- Net revenue was Ps.3.074 billion, increasing 33% from 2018
“The 2019 results exceeded our projections for the year, laying down the foundations of a high-growth and efficient operating platform, driven by its profitability, solid cash flow generation, financial discipline and low working capital requirements,” stated Andres Campos, Betterware’s CEO.