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Natura revenue and profits surge in ‘transformational year’

By
Translated by
Barbara Santamaria
Published
Mar 15, 2018
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Brazil’s Natura has ended the 2017 financial year with growth across all brands. The group, which acquired British chain The Body Shop from L'Oréal in 2017, has revealed double-digit increases in both sales and profits.


Natura Instagram


Consolidated net revenue for the year was up 24.5% to $9.95 billion Brazilian reals ($3.02bn), including revenue generated by The Body Shop during the four months after is acquisition.

Full-year consolidated net income reached $670.3 million Brazilian reals ($203m), representing 117.5% of growth compared to the previous year. Consolidated EBITDA was up 29.6% to $1.74 billion Brazilian reals ($529k).

2017 was described as a “transformational year” by the company, following the creation of a new group bringing together three distinctive brands, Natural, The Body Shop and Aesop. The change led to a new governance structure and corporate identity, with the group becoming Natura &Co.

In addition to the sales and profits rise, the company announced the positive development of its restructuring strategy. For financial 2017, it reported net-debt-to-EBITDA ratio of 3.0, which is below the previously announced ratio projected for the year-end of 3.6. By contrast, the net-debt-to-EBITDA ratio stood at 1.4 in financial 2016, before the purchase of The Body Shop.

The full-year report reveals all brands grew during the year. Natura’s consolidated net sales increased by 4.9% to $7.33 billion Brazilian reals ($2.2bn), while Aesop generated $579.7 million Brazilian reals ($176m) in sales, up 21.9% on the previous year. Meanwhile, The Body Shop contributed $1.456 billion Brazilian reals ($441k) to the total.

Natura’s performance was underpinned by strong growth in Latin America, particularly in countries like Argentina, Colombia and Mexico.

Meanwhile, The Body Shop’s revenue increase was supported by higher sales through franchise and online channels, and improved performance in North America and Asia Pacific. The chain ended the year with 1,099 directly-operated stores, after having opened 40 new sites and closed 75, resulting in a net reduction of 35 stores. Franchised store count was flat at 1,950 units. In total, the company has 3,049 stores and franchised locations.

The group’s premium brand, Aesop, was helped by the opening of 33 new standalone stores. The brand has now 209 stores in 21 countries, including Austria and the UAE. Additionally, the chain has 99 department store concessions, totalling 308 standalone and concessions worldwide.

Finally, net debt for the year was $5.24 billion Brazilian reals ($1.5bn), up from the $1.87 billion it reported in the previous year. This is an increase of 179%, reflecting the investment the company made to purchase The Body Shop.

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