Betterware de México, S.A.B. de C.V. (NASDAQ:BWMX) Q4 2022 Earnings Conference Call February 24, 2023 9:00 AM ET

Company Participants

Luis Campos - Executive Chairman

Andres Campos - CEO

Alejandro Ulloa - CFO

Conference Call Participants

Eric Beder - SCC Research

Cristina Fernandez - Telsey Advisory Group

Operator

Thank you and welcome to Betterware’s Fourth Quarter and Fiscal Year 2022 Earnings Conference Call. With me on the call today are Betterware’s Executive Chairman, Luis Campos; Betterware’s Chief Executive Officer, Andres Campos; and Corporate Chief Financial Officer, Alejandro Ulloa.

Before we get started, I would like to remind you that this call will include forward-looking statements, which are subject to various risks and uncertainties that could cause actual results to differ materially from expectations.

Any such statement should be considered in conjunction with the cautionary statements and the Safe Harbor statement in the earnings release and risk factors discussed in a 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 the investor section of the company’s website.

Now, I would like to turn the call over to the company’s Executive Chairman, Luis Campos. Please go ahead sir.

Luis Campos

Thank you, operator. Good morning everyone and thank you for joining us today. I would like to begin my remarks by providing a brief recap of 2022, a year with significant challenges, but also with significant accomplishments.

Including the completion of the JAFRA acquisition. The progress we have made so far in terms of reigniting its growth and increasing its profitability and the plans we have for the year.

Then Andres will discuss Betterware's results for the year and the key strategies and expectations for 2023 to return to growth. And finally, Alejandro Ulloa, our Corporate CFO, will discuss our quarterly and full year consolidated financial results, our expectations for 2023, and our capital allocation strategy going forward.

As we mentioned in our earnings release published yesterday, 2022 was a transformational year for our company. During the year, we successfully completed the acquisition of JAFRA's operations in Mexico and the US, along with its trademark rights worldwide.

This acquisition has made us a more resilient company with a more diversified portfolio and position unique product segments that allow us enter the attractive beauty and personal care markets in Mexico and the US.