Betterware de Mexico S.A.P.I. de C.V. announced its financial results for the second quarter of 2023, including net revenue of $192 million, a 4% increase sequentially, representing two consecutive quarters of growth. This growth was buoyed in part by Jafra Mexico, which saw a 14.5% increase in net revenue and a 25% increase in EBITDA compared to the same quarter of 2022. Jafra Mexico and Jafra USA accounted for 48% and 7% of net revenue, respectively.
Comparable net revenue, which accounts only for Betterware, decreased by 18.2% because of lower-than-average active associate and distributor numbers. The company stated that this fluctuation has since stabilized, and net revenue for the first half of the year is 84.5% higher than the first half of 2019, or pre-pandemic.
Betterware ended the second quarter with a stronger balance sheet than the previous quarter. Inventories decreased 20% year over year, reflecting more efficient inventory management, and net debt at the end of the semester was 17.7% less than the same period in 2022.
“We will continue working to achieve greater efficiencies, focused on further differentiating the company from our competitors through innovation, technological support for the sales force, and data analysis that informs successful strategic decisions,” said Luis G. Campo, Betterware Executive Chairman of the Board. “With solid foundations, we will continue growing revenues and profitability, and will generate greater value for our shareholders. Our first half performance and expectations for the remainder of the year have us well positioned to achieve our 2023 guidance, and we are certain that we are on a great momentum to continue experiencing the positive trend that we have been demonstrating in our results, which encourages us to continue working to achieve the annual objective and maintain the trend of sustained growth in the long term.”
