Betterware de México, S.A.P.I. de C.V. (BeFra) has released its consolidated financial results for the fourth quarter and full year ended 2025, highlighting steady revenue growth, a sharp rebound in profitability, and significantly improved cash generation.
Despite a challenging macroeconomic environment and softer consumer demand across key markets, the company demonstrated resilience through disciplined cost management, stronger operational execution, and improved productivity across its business units.
All financial figures are reported in nominal Mexican pesos (MXN) and prepared in accordance with IFRS.
During the fourth quarter of 2025, Betterware de México delivered modest revenue growth while significantly strengthening profitability and cash flow.
Net revenue for Q4 2025 reached MXN 3,825,539, compared to MXN 3,778,469 in Q4 2024 — representing a 1.2% year-over-year increase.
Revenue performance was supported by continued growth in Jafra Mexico, a narrowing decline in Betterware Mexico, and Jafra US returning to year-over-year growth. Although overall growth remained moderate, improving trends across business units signaled stabilization after a difficult start to the year.
One of the strongest highlights of the quarter was profitability recovery.
EBITDA reached MXN 726,463 compared to MXN 510,323 in the prior year, representing a 42.4% increase. EBITDA margin improved significantly to 19.0% from 13.5%, an expansion of 549 basis points.
The substantial improvement in EBITDA reflects disciplined expense control, operational efficiencies, and stronger productivity across the associate base. While gross margin experienced temporary pressure during Q4 — declining to 65.0% from 67.3% — management indicated this was largely due to short-term factors and ongoing investment in expansion initiatives.
Betterware de México reported net income of MXN 249,851 compared to MXN 225,305, representing growth of 10.9%. Earnings per share (EPS) increased to 6.70 from 6.04, also reflecting a 10.9% improvement.
The improvement in bottom-line performance highlights stronger operating leverage and improved financial discipline throughout the quarter.
For the full year 2025, Betterware de México delivered consistent revenue growth alongside substantial profitability expansion.
Annual Revenue Performance
Net revenue for the year totaled MXN 14,264,632 compared to MXN 14,100,758 in 2024, representing a 1.2% increase. Despite macroeconomic volatility, the company maintained positive top-line growth throughout the year.
Strong EBITDA Expansion
EBITDA for the full year reached MXN 2,662,689 compared to MXN 2,078,394 in the previous year, reflecting growth of 28.1%. EBITDA margin expanded to 18.7% from 14.7%, an improvement of 397 basis points.
Margin expansion throughout the year reflects structural improvements in cost management, productivity gains, and operating efficiency.
Net Income Jumps 46%
Net income increased to MXN 1,042,756 from MXN 711,728, representing growth of 46.5%. Earnings per share rose to 27.94 from 19.07, also reflecting a 46.5% increase year-over-year.
The sharp increase in annual earnings demonstrates the company’s ability to convert operational improvements into bottom-line growth.
Free Cash Flow Strengthens
Free cash flow for 2025 reached MXN 2,222,191 compared to MXN 1,783,901 in the prior year, representing a 24.6% improvement.
The stronger cash flow performance reinforces the company’s focus on disciplined working capital management and financial stability.
Associate Base and Productivity
While the total associate base ended slightly lower year-over-year, productivity per associate improved. Management attributed this to enhanced incentive programs, VIP initiatives, and stronger engagement strategies. This shift toward higher productivity helped offset the modest decline in total associates.
Inventory Optimization and Financial Discipline
Betterware de México emphasized its focus on inventory normalization during the year. The reduction of excess inventory strengthened liquidity and improved overall cash conversion metrics, supporting a more stable financial structure.
Improved Leverage Position
The company’s Net Debt to Adjusted EBITDA ratio improved to 1.56x compared to 1.76x previously. This reflects stronger earnings generation combined with disciplined debt management.
Company leadership described 2025 as a year marked by macroeconomic challenges and softer consumer demand across core markets. However, after a difficult first quarter, performance trends steadily improved.
Through disciplined expense control, operational execution, and stronger productivity initiatives, Betterware de México successfully restored profitability momentum and enhanced cash flow generation.
With improving EBITDA margins, stronger cash generation, and reduced leverage, Betterware de México exits 2025 with strengthened financial positioning.
The company’s resilience, cost discipline, and focus on productivity place it in a solid position to navigate ongoing market volatility while pursuing sustainable long-term growth.
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