Natura &Co announced its financial results for the second quarter of 2023, posting net revenue of $1.5 billion, a 1.9% increase in constant currency over the second quarter of 2022. Natura Latam was one of the strongest performers for the company, seeing a constant currency net revenue increase of 19.5% in the second quarter. Consolidated gross profit was $1.02 billion, with a 65.4% gross margin.
The company saw a net loss of $146 million with a consolidated adjusted EBITDA of $151 million. Continued challenges with The Body Shop, which saw a 12.5% decline in net revenue, as well as an expected drop in Avon’s Home & Style category in Latam offset progress.
“Natura & Co’s second-quarter performance continued to show the improvement already observed in Q1, with low-single digit top line growth at constant currency and a significant improvement in adjusted EBITDA margin,” said Fábio Barbosa, Natura &Co Group CEO. “This was mainly driven by gross margin, benefiting from mix effects, partially offset by investments and inflation. We look forward to delivering our strategy, continuing to position Natura &Co on the course towards strong profitability and low leverage, allowing us to pursue meaningful and sustainable growth in the future.”
