Betterware de Mexico released its financial results for the first quarter of 2023. The company’s net revenue reached $181.5 million, a 1.2% sequential increase, and a 74.9% increase from the same period in 2022. The significant increase year over year is mainly attributed to the company’s inclusion of the results from Jafra Mexico and Jafra USA, which contributed 51% and 7% of the consolidated net revenue, respectively.
Gross margin in the first quarter was 72.8% with an EBITDA of $36.5 million. Jafra Mexico showed positive trends post-acquisition, with the consultant base expanding by 17.5% compared to the same quarter last year. Jafra USA business development was focused on reactivation and retention, resulting in the reactivation of 4,800 consultants and a $1.1 million increase in net revenue.
“Although the world’s macroeconomic environment is still uncertain, we are confident that our different business units are heading in the right direction,” said Luis G. Campos, Betterware Executive Chairman of the Board. “The decisions made so far, and the initiatives we are implementing at Betterware and Jafra represent a solid foundation for growing revenue, profitability, and more value for our shareholders. I am sure that we will achieve our 2023 objectives and maintain sustained growth in the long term.”