GUADALAJARA - Betterware de México, S.A.P.I. de C.V. (NYSE: BWMX), a leading direct-to-consumer company in Mexico, announced the appointment of Ms. Olga Botero as an Independent Director to its Board, effective October 17, 2024. With the addition of Ms. Botero, Betterware's Board expands to twelve members, nine of whom are independent.
Ms. Botero's extensive background includes over two decades of experience in the fields of digital technology, cybersecurity, and risk management. Her professional portfolio spans across several industries, including Financial Services, Technology, and Telecommunications. She has been recognized for her contributions as an Independent Board Director and currently holds positions at various prominent companies and committees.
Luis G. Campos, Executive Chairman of the Board, expressed confidence in Ms. Botero's abilities, stating her expertise in Mexican and global markets will be invaluable as the company continues to enhance its digital strategies.
Betterware de Mexico, founded in 1995, specializes in innovative home organization, space-saving, and hygiene products. The company's acquisition of JAFRA in April 2022 has extended its reach into the Beauty market, distributing products in both Mexico and the United States.
In other recent news, Betterware de Mexico S.A.B. de C.V. reported a steady 5.3% year-over-year revenue growth in Q2 2024, marking the third consecutive quarter of growth. This progress was observed despite global supply chain disruptions and market volatility. Its subsidiaries, Betterware Mexico and Jafra US, also showed revenue increases. The company remains optimistic about meeting its 2024 revenue and EBITDA targets.
Betterware also declared its 18th consecutive quarterly dividend, reflecting its commitment to shareholder value. The company's financial position continued to strengthen, with a 2.1% reduction in total net debt compared to the same quarter in 2023.
InvestingPro Insights
As Betterware de México (NYSE: BWMX) welcomes Ms. Olga Botero to its board with a focus on enhancing digital strategies, it's worth noting the company's solid financial metrics that could support its growth endeavors. InvestingPro Data indicates that Betterware de México boasts an impressive gross profit margin of 71.55% over the last twelve months as of Q2 2024, underlying the company's efficiency in its operations and its strong position in the Specialty Retail industry.
Additionally, the company's P/E ratio stands at a low 8.56, suggesting that it is trading at a low earnings multiple relative to its near-term earnings growth. This could signal an attractive valuation for investors considering the company's profitability and growth prospects. In fact, the low P/E ratio is complemented by a strong free cash flow yield, as highlighted by one of the InvestingPro Tips, which could point to Betterware de México's potential for future investments and dividend payments.
Speaking of dividends, Betterware de México has maintained dividend payments for 5 consecutive years, with a notable dividend yield of 9.58% as of the latest data. The commitment to returning value to shareholders is further emphasized by the significant dividend growth of 69.73% over the last twelve months as of Q2 2024.
For those interested in gaining deeper insights into Betterware de México's financial health and strategic positioning, InvestingPro offers additional tips that can be accessed at https://www.investing.com/pro/BWMX. There are currently 9 additional InvestingPro Tips available that provide a comprehensive analysis of the company's performance and potential.
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