For 2025, Natura Group reported top-line growth of 1.8% at constant currency, reaching €3.7bn. However, reported revenues contracting by 5% due to the sharp appreciation of the Brazilian Real against other regional currencies and the hyper inflation effect in Argentina.
Despite currency headwinds, the focus was clearly on efficiency. Underlying EBITDA margins expanded by 190 basis points, driven by gross margin gains and tighter control over selling expenses. Operationally, the unification of Natura and Avon brands in Mexico and Argentina is now complete, closing the chapter on major transformation costs.
In Brazil, sales held steady in a challenging macroeconomic environment impacting consumption and consultant activity. Avon’s top line absorbed a 13.4% decline following its March relaunch. This was offset by Natura’s 3.5% growth, buoyed by robust demand for body sprays during the first three quarters of the years and despite a challenging Q4.
In Hispanic markets group revenue decreased 11.5% in real terms but increased 4.7% in constant currency, driven by a 17.1% increase at Natura, neutralizing the 11.6% contraction at Avon.