Betterware De Mexico, S.a.p.i. De C.v. · NYSE:BWMX
Betterware De Mexico, S.a.p.i. De C.v — Q3 2025 Earnings Presentation
28 slides from Betterware De Mexico, S.a.p.i. De C.v's earnings presentation, Oct 24, 2025
Slide 1: 3Q25 Earnings Call
3Q25 Earnings Call October 23, 2025
Slide 2: Cautionary Statement Regarding Forward-Looking Statements
Cautionary Statement Regarding Forward-Looking Statements Matters discussed in this presentation may constitute forward-looking statements. Forward- looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and oth
Slide 3: Presenters
PRESENTERS Andrés Campos Rodrigo Muñoz President & CEO, CFO, BeFra BeFra 3
Slide 4: 3Q25 Highlights
3Q25 Highlights Revenue growth despite softening consumption in Mexico. Net Revenue +1.4% Strengthened profitability across all business units. Gross Margin +158 bps Jafra US delivered strong revenue growth as its momentum 68.5% continues to strengthen. EBITDA +22.1% Betterware Ecuador initial opera
Slide 5: Strategic Pillars – 2025 to 2030
Strategic Pillars – 2025 to 2030 Pages / 1 2 3 4 5 Strengthen Mexico Regional Expansion New Brands or Activate digital P2P Maintain financial Leadership Categories discipline and control Continue expanding our Continue expanding in USA Explore entry into new Evolve our business model Maintain financ
Slide 6: Strategic Pillars – 2025 to 2030
Strategic Pillars – 2025 to 2030 Pages / 1 2 3 4 5 Strengthen Mexico Regional Expansion New Brands or Activate digital P2P Maintain financial Leadership Categories discipline and control Continue expanding our Continue expanding in USA Explore entry into new Evolve our business model Maintain financ
Slide 7: Mexico Revenue and EBITDA & Margin
Mexico Revenue EBITDA & Margin (Millions Mxn) (Millions Mxn) • Softer demand than expected • Gross margin up 238 bps YoY • Asociate Base remains stable QoQ • Upward trajectory recovering our historical levels • 17% lower inventories vs PY 22.5% 19.1% 18.6% 19.9% 21.5% 20.4% 3Q’24 -5.3% -5.5% +11.7%
Slide 8: Continued Innovation
Pa ge s/ Continued Innovation Complementary Innovation 8
Slide 9: 3Q25 Commercial Highlights
3Q25 Commercial Highlights Catalogue Reconfiguration New VIP Program New IDEAS Platform SKU decrease from ~420 to ~370 New VIP level for associates, Associates can now send their segmenting incentives to further product ideas and feedback via B+ Promotional SKU weight decrease reward productivity Ap
Slide 10: Mexico Revenue and EBITDA & Margin
Mexico Revenue EBITDA & Margin (Millions Mxn) (Millions Mxn) • Associate base grows +2% QoQ • Increased 3Q EBITDA Margin 425 bps YoY • Average order up 10% YoY 23.8% 19.6% 21.2% 20.3% 20.0% 15.3% +7.9% +6.4% +31.3% +5.0% 1,870 1,854 5,476 418 1,098 1,752 5,145 1,046 1,624 393 318 287 3Q’24 1Q’25 2Q’
Slide 11: Continued Innovation
Pa ge s/ Continued Innovation Complementary Innovation 11
Slide 12: 3Q25 Commercial Highlights: JANET
3Q25 Commercial Highlights New Purple Guide Design OutBound Contact JANET Simpler New campaign using Whatsapp Chatbot to proactively motivate All in one communication Associates
Slide 13: Strategic Pillars – 2025 to 2030
Strategic Pillars – 2025 to 2030 Pages / 1 2 3 4 5 Strengthen Mexico Regional Expansion New Brands or Activate digital P2P Maintain financial Leadership Categories discipline and control Continue expanding our Continue expanding in USA Explore entry into new Evolve our business model Maintain financ
Slide 14: U.S. Revenue EBITDA & Margin
U.S. Revenue EBITDA & Margin (Millions USD) (Millions USD) • Growth trajectory after a difficult 1Q of the year • Gross margin +336bps vs prior year • September sales up 30% Year-over-Year • Jafra U.S. reached operating breakeven on a normalized basis; however, reported results were impacted by $1.4
Slide 15: New Shopify+ Platform and New Purple Guide
New Shopify+ New Purple Guide Platform (incentive plan) 15
Slide 16: U.S. Catalog
ye SUMMER SCENTS 4 Sones y SOAK Wwe aux THE SAVINGS! Before U.S. Catalog as NATURAL RADIANCE From glo beat Z your post-eumnaner releeck starts nowt Now
Slide 17: Ecuador Guatemala
Ecuador Guatemala • +5,900 associates and +380 distributors • 3Q’25 net revenue increased 32% Year-over-Year • Estimated around $80M revenue by FY 2026 • 7.8% Associates and 10% Distributors increases Year- • Month-over-Month growth of 21% over-Year Ecuador Revenue & Associates Guatemala revenue Mon
Slide 18: Geographic Expansion
Direct Selling Markets Geographic Expansion • Replicate Betterware model • Andean + Central America $4.5B TAM • Penetrate new markets organically and selectively through acquisitions 18
Slide 19: Strategic Pillars – 2025 to 2030
Strategic Pillars – 2025 to 2030 Pages / 1 2 3 4 5 Strengthen Mexico Regional Expansion New Brands or Activate digital P2P Maintain financial Leadership Categories discipline and control Continue expanding our Continue expanding in USA Explore entry into new Evolve our business model Maintain financ
Slide 20: Strategic Pillars – 2025 to 2030
Strategic Pillars – 2025 to 2030 Pages / 1 2 3 4 5 Strengthen Mexico Regional Expansion New Brands or Activate digital P2P Maintain financial Leadership Categories discipline and control Continue expanding our Continue expanding in USA Explore entry into new Evolve our business model Maintain financ
Slide 21: Strategic Pillars – 2025 to 2030
Strategic Pillars – 2025 to 2030 Pages / 1 2 3 4 5 Strengthen Mexico Regional Expansion New Brands or Activate digital P2P Maintain financial Leadership Categories discipline and control Continue expanding our Continue expanding in USA Explore entry into new Evolve our business model Maintain financ
Slide 22: Revenue EBITDA & Margin
Revenue EBITDA & Margin (Millions Mxn) (Millions Mxn) • 3Q net sales +1.4% Year-over-Year despite • EBITDA increased 22% YoY, with the margin softer consumer demand expanding both sequentially and YoY • 3Q has a common seasonality, usually being the lowest Q of the year. 19.1% 21.4% 19.4% 17.8% 15.3
Slide 23: 3Q 2025 EBITDA and 9 Months EBITDA
3Q 2025 EBITDA 9 Months EBITDA (Millions Mxn) (Millions Mxn) Mexico BU’s Mexico BU’s 2,024.6 747.2 417.8 738.8 722.1 1,097.8 1,998.2 1,936.2 -8.3 -16.7 -26.5 -61.9 329.4 926.8 BW Jafra Jafra EBITDA International BeFra BW Jafra Jafra EBITDA International BeFra México México US BU’s Expansion México M
Slide 24: Net Income
Net Income • +71.2% Year-over-Year (Millions Mxn) 30 314 54 24 131 184 Adjusted Net Operating activies Net interest FX impact Income tax Net Income 3Q 2025 income 3Q 2024 24
Slide 25: Cash Flow Dividends
(Millions Mxn) Cash Flow Dividends FCF increased 32% Year-over-Year, expected to 23rd consecutive quarters paying dividends since reach historical annual rate of around 60% by year- IPO end. Dividends Paid (9-Month Comparable Basis) 70% 71% 71% 87% 77% 48% 1,050 -10% 900 +32.6% 749 592 649 548 554 4
Slide 26: Total Debt through the years
Total Debt through the years Strong Capability on Paying Debt • Net Debt/EBITDA went from 2.8 in 2022 to 1.8 in 3 years 6.7 6.7 6.4 (‘000s Millions Mxn) 3.1 6.0 2.8 5.8 5.7 5.7 5.5 5.4 5.4 5.5 2.4 5.3 5.2 5.2 2.2 2.0 2.1 2.1 2.0 1.8 1.8 1.8 1.8 1.8 1.8 0.4 0.1 0.1 -0.2 -0.2 -0.1 -0.3 -0.4 1.6 1.5 1.
Slide 27: Strategic Pillars – 2025 to 2030
Strategic Pillars – 2025 to 2030 Pages / 1 2 3 4 5 Strengthen Mexico Regional Expansion New Brands or Activate digital P2P Maintain financial Leadership Categories discipline and control Continue expanding our Continue expanding in USA Explore entry into new Evolve our business model Maintain financ
Slide 28: Thank you.
Thank you. INVESTOR RELATIONS befragroup.com ir@better.com.mx 28
Betterware de Mexico, S.A.P.I. de C.V. — Q3 2025 Earnings Presentation on 6ix