Q2 2024 Betterware de Mexico SAPI de CV Earnings Call Transcript
Key Points
- Betterware de Mexico SAPI de CV (BWMX) achieved 5.3% year-over-year revenue growth in Q2 2024.
- Jafra US recorded its first year-over-year revenue increase since its acquisition in 2022.
- The company maintained an 8% growth in net revenue for the first half of 2024.
- Betterware de Mexico SAPI de CV (BWMX) has paid 18 consecutive quarterly dividends, representing a yield of 10.7%.
- Jafra Mexico achieved 8.7% revenue growth in Q2 2024, driven by robust performance across all categories.
- Global supply chain disruptions and geopolitical tensions have increased container prices by 11.6% on average during Q2 2024.
- The peso depreciated by 7.5% in June, adding to market volatility.
- Import taxes on 116 SKUs averaging a 17% increase have pressured profitability.
- The associate base experienced a slight decline, prompting the need for target incentives for recruitment and retention.
- Consolidated gross margin contracted by 103 basis points due to a less favorable product mix, higher freight costs, new import taxes, and peso depreciation.
Thank you, and welcome to BeFraâs second quarter 2024 earnings conference call. Speaking on today's call are BeFraâs Executive Chairman, Luis Campos; Chief Executive Officer, Andres Campos, and Chief Financial Officer, Alejandro Ulloa.
Before they begin their remarks, the company would like to remind you that today's call will include forward-looking statements, which are subject to various risks and uncertainties that could cause actual results to differ materially from expectations. Any such statements should be considered in conjunction with the cautionary statements and the Safe Harbor statement in the earnings release issued yesterday and risk factors discussed in reports filed with the SEC.
Betterware assumes no obligation to update any of these forward-looking statements or information. A reconciliation of other information regarding non-GAAP financial measures discussed on today's call can also be found in the earnings release as well as the Investors section of the company's website.
Now I would like to turn the call over to the company's Chairman, Luis Campos. Please
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