BWMX FY 2023 Earnings Report — Betterware de México, S.A.P.I. de C.V. Revenue & Financial Results | Market Cap Arena

Betterware de México, S.A.P.I. de C.V.BWMX

FY 2023 Earnings

Reported April 30, 2024

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2023	Prior Q	FY 2022	QoQ Change	YoY Change
Revenue	$748M	—	$662M	—	13.1%
Op. Income	$135M	—	$117M	—	15.6%
Gross Margin	71.5%	—	65.4%	—	6.2pp
Net Margin	8.1%	—	7.6%	—	0.5pp
EPS (Diluted)	$1.62	—	$1.23	—	31.7%
Free Cash Flow	$129M	—	$63M	—	103.9%

Revenue Flow

Item	Amount
REVENUE	$748M
Cost of Revenue	$213M
GROSS PROFIT	$535M
R&D Expenses	$0
Selling & Marketing	$233M
General & Administrative	$167M
SG&A Expenses	$400M
Other Expenses	$0
Operating Expenses	$400M
Cost & Expenses	$613M
OPERATING INCOME	$135M
Interest Income	$3M
Interest Expense	$47M
Other Income/Expenses	-$53M
INCOME BEFORE TAX	$82M
Income Tax Expense	$22M
Net Income from Continuing Ops	$60M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$60M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$60M
D&A	$22M
EBIT	$129M
EBITDA	$151M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$748M
Cost of Revenue	$213M
GROSS PROFIT	$535M
R&D Expenses	$0
Selling & Marketing	$233M
General & Administrative	$167M
SG&A Expenses	$400M
Other Expenses	$0
Operating Expenses	$400M
Cost & Expenses	$613M
OPERATING INCOME	$135M
Interest Income	$3M
Interest Expense	$47M
Other Income/Expenses	-$53M
INCOME BEFORE TAX	$82M
Income Tax Expense	$22M
Net Income from Continuing Ops	$60M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$60M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$60M
D&A	$22M
EBIT	$129M
EBITDA	$151M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$60M
Depreciation & Amortization	$22M
Stock-Based Compensation	$240.8K
Deferred Income Tax	$22M
Other Non-Cash Items	$17M
Change in Working Capital	$15M
OPERATING CASH FLOW	$136M
Capital Expenditure	-$8M
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$4M
NET CASH FROM INVESTING	-$4M
Net Debt Issuance	-$72M
Common Stock Repurchased	$0
Common Dividends Paid	-$37M
Other Financing Activities	-$38M
NET CASH FROM FINANCING	-$148M
FREE CASH FLOW	$129M
Net Change in Cash	-$15M

Balance Sheet

Item	Amount
Cash & Equivalents	$32M
Short-Term Investments	$0
Net Receivables	$63M
Inventory	$117M
Other Current Assets	$13M
TOTAL CURRENT ASSETS	$230M
PP&E (Net)	$188M
Goodwill	$92M
Intangible Assets	$95M
Long-Term Investments	$0
Tax Assets	$0
Other Non-Current Assets	$33M
TOTAL NON-CURRENT ASSETS	$408M
TOTAL ASSETS	$638M
Account Payables	$103M
Short-Term Debt	$29M
Deferred Revenue	$0
Other Current Liabilities	$49M
TOTAL CURRENT LIABILITIES	$220M
Long-Term Debt	$266M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$52M
TOTAL NON-CURRENT LIABILITIES	$333M
TOTAL LIABILITIES	$553M
Common Stock	$18M
Additional Paid-In Capital	-$941.3K
Retained Earnings	$68M
Treasury Stock	$0
Accum. Other Comp. Income	-$1M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$85M
Minority Interest	-$93.9K
TOTAL EQUITY	$85M
TOTAL LIABILITIES & EQUITY	$638M
Total Debt	$317M
Net Debt	$285M