Accelerated, profitable growth

In 2013, the international operations had a record share in company revenues, reaching 14.4%. average annual growth since 2009 has been 40%

Intensified in 2010, the acceleration of the company's internationalization strategy is producing significant results.Since 2012, the operations under consolidation (Argentina, Colombia and Chile) have been profitable – meaning the company's investments are beginning to produce positive returns.The operations being implanted (Peruand Mexico), have already reached breakeven.

“Our results in terms of revenue, profitability, service levels and increased brand preference are robust in all the countries in which we operate”, says Erasmo Toledo, vice president, International Businesses.

The International Operations' share of company revenues reached a record 14.4% in 2013 – 17% if Aesop, the Australian company acquired in 2012, is taken into account. Average growth since 2009 has been 40% per year.

Aswas the case in Brazil up till 2009, accelerated network growth is one of Natura's main strategies for these countries – the average rate since 2009 has been 24% a year. Worthy of note are Mexico and Argentina, which reached the mark of 100,000 consultants each at the beginning of 2014. Since 2011, Natura has been implanting the NCA (Natura Consultant Advisor) model in these countries – to boost results and the quality of relationships with consultants. In Mexico, a multilevel model – adapted to local conditions and incorporating a socio-environmental differential– is driving the growth of the network (read more here).

Brand preference

2012

2013

Argentina

22.5

24

Chile

18

25

Peru

18.5

20

Colombia

3

8

México

5

5.5

Profitable growth

Ebitda (proforma) (R$MM)

2011

2012

2013

Countries under consolidation1

43.0

78.4

139.0

Countries under implantation2

(24.2)

(8.2)

8.4

Total International Operations3

(51.1)

(11.8)

38.1

Gross revenue (R$ MM)

2011

2012

2013

Countries under consolidation1

441.5

649.7

886.8

Countries under implantation2

172.9

263.5

363.1

Total International Operations3

636.9

936.6

1,273.5

1 Group consisting of the operations in Argentina, Chile and Peru.
2 Group consisting of the operations in Colombia and Mexico.

3 Includes the operations under consolidation, being implanted and other international investments (the operation in France and the international corporate structure based in Buenos Aires).