Natura has a profit of BRL 273 million in the 3rd quarter, and plans to list in NY

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A Nature released on Thursday (11) a net profit of BRL 272.9 million for the third quarter, a drop of 28.5% over the result of a year before and announced a program of shares and plans to list shares in Nova York.

The company, which also owns the Avon, The Body Shop and Aesop brands, had a profit before interest, taxes, depreciation and amortization (Ebitda) of R$819.1 million between July and the end of September, with a margin of 8.6%, a drop of 620 basis points over the performance of a year before.

The CEO of Natura, Roberto Marques, stated that the basis for comparison with the third quarter of last year is difficult, given that the growth was more than 20%, but he mentioned that the company had a stronger performance than the rest of the company. industry and with respect to pre-pandemic levels.

Natura also announced a new share buyback program worth up to R$1.5 billion and is considering changing its main listing in the B3 to the New York Stock Exchange, keeping BDRs (received from shares) listed in Brazil.

The plans, according to the company, reflect the increasingly global nature of the company.

Marques stated that in the nine months of 2021, Avon had its first revenue growth after five years of declines, amid gains in synergies with the rest of the company.

The executive stated that Natura is facing difficulties to raise prices in its main markets amidst economic problems.

“Some of our markets are facing high levels of unemployment and the ability to raise prices is compromised… It’s a complex equation,” said Marques.

Reference: CNN Brasil

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