2024-02-23 13:22:06 ET
Betterware de México, S.A.P.I. de C.V. (BWMX)
Q4 2023 Earnings Conference Call
February 23, 2024 9:00 AM ET
Company Participants
Luis Campos – Executive Chairman
Andres Campos – Chief Executive Officer
Alejandro Ulloa – Chief Financial Officer
Conference Call Participants
Eric Beder – SCC Research
Cristina Fernández – Telsey Advisory Group
Andres Lomeli – LCA Capital
Presentation
Operator
Good morning. Welcome to Betterware's Fourth Quarter 2023 Earnings Conference Call. Joining us today are the leadership team members Executive Chairman, Luis Campos; Chief Executive Officer, Andres Campos; and Corporate Chief Financial Officer, Alejandro Ulloa.
Before we begin, I would like to remind you that the call will include forward-looking statements, which are subject to various risks and uncertainties that could cause actual results to differ materially from expectations, and any such statement should be considered in conjunction with cautionary statements and the safe harbor statement in the earnings release 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 and other information regarding non-GAAP financial measures discussed on the call can be found in the earnings release issued yesterday as well as in the Investors section of the company's website.
I would now like to turn the call over to the Company's Executive Chairman, Luis Campos. Please proceed.
Luis Campos
Thank you, operator, and good morning, everyone. 2023 has been a transformative year for Betterware. As a group, we have become stronger and more diversified also leveraging our core competitive advantages such as consumer product and direct selling leaders. This was reflected in a 5.2% year-on-year net revenue increase with a strengthened profitability, achieving a total of Ps.2,721 million in EBITDA. At the midpoint of our initial guidance and exceeding our revised guidance for the year and a strong full-year EBITDA margin of 20.9%. Our strong cash flow generation has enabled us to reduce debt and further strengthen our balance sheet....
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Betterware de México, S.A.P.I. de C.V. (BWMX) Q4 2023 Earnings Call Transcript