Brazil’s Natura Sees Cash Boost Later in Year Following Q2 Loss

Brazilian cosmetics maker Natura & Co expects its accounts to enhance within the second half of the yr after a smooth begin to 2023, executives mentioned on Tuesday, with a money enhance scheduled from the sale of its Aesop model and strategic modifications.

Natura on Monday posted a web lack of 732 million reais, narrowing its year-ago loss however the firm mentioned its nonetheless faces “excessive monetary bills.”

It added this is able to be addressed upon closing its sale of Australian luxurious model Aesop scheduled for the third quarter, having agreed to a $2.53 billion deal in April with French cosmetics group L’Oréal.

“(Natura’s leveraging problem) will probably be solved by Q3,” chief monetary officer Guilherme Castellan instructed reporters on Tuesday, including that the corporate would deal with its debt funds within the fourth quarter.

The corporate additionally expects to spend money on promoting and retailer restructuring in some nations as a part of its operations revamp.

As well as, Natura plans to develop its model integration programme — bringing collectively Natura and Avon manufacturers beneath the identical gross sales groups — to Brazil within the coming weeks.

“(We are going to begin integration) in different nations in 2024,” Natura’s CEO in Latin America, Joao Paulo Ferreira, mentioned.

By Carolina Pulice, Editor: Matthew Lewis

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Brazilian Beauty Giant Natura Proposes 32 Percent Cut to Management Pay

The Sao Paulo-based firm’s board proposed setting the entire remuneration of its senior managers at about 78 million reais ($15 million) for the 12 months beginning in Could, down from the 115 million reais initially proposed for a similar interval a yr earlier, in keeping with a regulatory submitting Monday.