Natura &Co Holding S.A. (NYSE:NTCO) Q2 2022 Earnings Conference Call August 12, 2022 9:00 AM ET
Company Representatives
Fábio Barbosa - Chief Executive Officer
Guilherme Castellan - Chief Financial Officer
Jao Paulo Ferreira - Chief Executive Officer of Natura &Co Latin America
Conference Call Participants
Robert Ford - Bank of America
Joseph Giordano - JP Morgan
Thiago Macruz - Itaú
Stephanie Wissink - Jefferies
João Soares - Citibank
Irma Sgarz - Goldman Sachs
Richard Cathcart - Bradesco
Danniela Eiger - XP Investimentos
Operator
Welcome to Natura &Co.’s Second Quarter 2022 Earnings. On this call today are Fábio Barbosa, CEO of Natura &Co and Guilherme Castellan, CFO of Natura &Co. Jao Paulo Ferreira, CEO of Natura &Co Latin America will join for the Q&A session.
The presentation they will be referring to during this call is available on the Natura &Co Investor Relations website. Please limit yourself to one question each in the Q&A session, so we can allow more people to ask questions. Thank you for your understanding and cooperation on this.
I will now hand over to Fábio Barbosa.
Fábio Barbosa
Good morning or good afternoon to all of you and thank you for joining us today. Very happy to be with you for my first quarterly earnings call since becoming CEO of Natura &Co less than two months ago. Guil, the CFO will comment on the results shortly, so I will limit myself to a more qualitative commentary.
Q2 was a difficult quarter marked by high inflation, lower consumer spending, continues supply chain disruption and of course the macroeconomic and geopolitical uncertainty that results from the war in Ukraine. Our performance in the quarter of course reflects this challenging environment. Let's be clear, it also reflects the structural issues we see in our group, that we have clearly identified and that we are now addressing.
As you know, when I was appointed CEO we also announced that I would head up a streamlined transition committee, and I am pleased to report that we are making good headway in redefining the respective roles of the holding company and the business units in order to make our group less complex, leaner and more decentralized, so that each BUs can get on with the business of improving its performance, getting the support its needs, but also the latitude it needs. We want to preserve what makes Natura &Co strong and unique, notably its culture and commitment to sustainability, but the BU’s need to have the agility to react quickly to their market and strategic chance.