Natura &Co announced its financial results for the second quarter of 2024, reporting consolidated net revenue of $1.3 billion, a 5.7% year-over-year increase in constant currency. Adjusted EBITDA was $146 million with a net loss of $156 million, compared to a net loss of $133 million in last year’s quarter. This was primarily attributed to the company’s one-time non-cash write-off as a result of the voluntary restructuring of Avon Products, Inc.
Natura &Co Latam saw a 10% increase in second quarter revenues year over year, fueled primarily by both Natura and Avon in Brazil. Natura recorded an accelerating pace within the Hispanic markets, which was partially offset by the Home and Style category and by Avon adjustments across the region.
Avon International saw an 8.4% decrease in year-over-year revenues.
“Natura &Co is still highly committed to its triple bottom line strategy and remains positive that its simplification path announced in mid-2022 remains an important lever to unlock value for all our stakeholders in the short term,” said Fábio Barbosa, Natura &Co Group CEO. “As we look forward in the future, we will continue to focus on delivering our strategic priorities, which has already allowed us to increase investments to drive sustainable topline growth, based on an agenda focused on a healthy and diverse channel, consumer-centric innovations and strong brands admired by all stakeholders around them.”
