Natura&Co’s Q1 Net Income Exceeded $1.6 Billion, Sold Aesop to L’Oréal for US$2.525 Billion

May 8, Brazilian beauty giant Natura &Co, the parent company of The Body Shop and Aesop, announced its financial figures for Q1 FY2023:

Q1 consolidated net revenue of R$ 8 billion, up 3.4% at constant currency (-2.8% in BRL), driven by solid constant currency (CC) growth at Natura &Co Latam and Aesop;
Gross margin was 67.7%, up 370 bps vs Q1-22;
adjusted EBITDA margin was 10.5%, up 330 bps vs the same period last year, reflecting improving margins at Natura &Co Latam and Avon International and a 36% drop in Holding expenses;
Net income was R$ (652.4) million, a sequential …