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Segment Information | 12 Months Ended
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Dec. 31, 2024
Segment Information [Abstract] |
Segment information |
| 26. | Segment information
The information by operating segments is presented consistently with the information included in the internal reports provided to the highest authority in making operating decisions (Chief Operating Decision Maker or “CODM”). The Board of Directors is who evaluates the financial performance, the situation of the Group and makes strategic decisions. It has been identified as the highest authority in operating decision-making, and it is integrated by seven independent members, two members and the Executive Board Chairman. As discussed in note 1, the Group has identified the reportable business segments as follows:
| ● | Home organization segment (Betterware segment or BWM segment): formed by seven different categories through which Betterware offers its product line include kitchen and food preservation, home solutions, bathroom, laundry & cleaning, tech and mobility, bedroom and wellness. BWM’s products are sold through catalogues and are distributed to the end customer by its network of distributors and associates in Mexico. As of December 31, 2024, the net income corresponding to this reportable segment represented 42.5%.
| ● | Beauty and Personal Care (B&PC) segment (Jafra segment), formed by four main categories: fragrance, color (cosmetics), skin care and toiletries. Jafra’s products are sold through 12 promotional catalogues published on a monthly basis and are distributed to the end customer by its network of leaders and consultants in its operative segments located in Mexico (Jafra Mexico) and the United States (Jafra US). As of December 31, 2024, the net income corresponding to this reportable segment represented 57.5%.
EBITDA is reconciled to income before income taxes as follows:
|  | 2024 |  |  | 2023 |  |  | 2022 |
(+) Net revenue BWM |  |  | 5,991,834 |  |  |  | 5,726,608 |  |  |  | 6,343,344 |
(+) Net revenue JAFRA |  |  | 8,108,924 |  |  |  | 7,282,899 |  |  |  | 5,164,205 |
(=) Total Net revenue |  | Ps. | 14,100,758 |  |  |  | 13,009,507 |  |  |  | 11,507,549 |
(+) EBITDA BWM |  |  | 1,296,538 |  |  |  | 1,434,501 |  |  |  | 1,514,227 |
(+) EBITDA JAFRA |  |  | 781,856 |  |  |  | 1,286,399 |  |  |  | 801,881 |
(=) EBITDA(*) |  |  | 2,078,394 |  |  |  | 2,720,900 |  |  |  | 2,316,108 |
Depreciation and amortization |  |  | (392,186 | ) |  |  | (382,119 | ) |  |  | (287,702 | )
Interest expense |  |  | (639,705 | ) |  |  | (827,812 | ) |  |  | (543,321 | )
Interest income |  |  | 22,818 |  |  |  | 45,056 |  |  |  | 28,689 |
Unrealized (loss) gain in valuation of DFI |  |  | 156,766 |  |  |  | (32,591 | ) |  |  | (43,522 | )
Foreign exchange loss, net |  |  | (45,305 | ) |  |  | (106,847 | ) |  |  | (83,368 | )
Income before income taxes |  | Ps. | 1,180,782 |  |  |  | 1,416,587 |  |  |  | 1,386,884 |
| (*) | EBITDA is composed of net income, (+) depreciation and amortization, (+) net financing costs, (+) income taxes. The CODM reviews segment profitability on an EBITDA and Adjusted EBITDA basis. EBITDA is the Company's single measure of segment profitability. In 2024, the adjusted EBITDA is made up of adding unusual items: (+) the impairment of assets held for sale, (+) other expenses by selling of properties. which is shown in the Company's annual report.
The segment information of the Group is detailed in the following table:
As of December 31, |  | 2024 |
Segments |  | BWM |  |  | JAFRA |  |  | Eliminations* |  |  | Total |
Other expenses by selling of properties |  | Ps. | - |  |  |  | 529,722 |  |  |  | - |  |  |  | 529,722 |
Impairment of assets held for sale |  | Ps. | - |  |  |  | 166,581 |  |  |  | - |  |  |  | 166,581 |
Interest expense |  | Ps. | (903,431 | ) |  |  | (34,088 | ) |  |  | 297,814 |  |  |  | (639,705 | )
Interest income |  | Ps. | 10,956 |  |  |  | 309,676 |  |  |  | (297,814 | ) |  |  | 22,818 |
Unrealized gain in valuation of DFI |  | Ps. | 156,766 |  |  |  | - |  |  |  | - |  |  |  | 156,766 |
Foreign exchange loss, net |  | Ps. | (40,792 | ) |  |  | (4,513 | ) |  |  | - |  |  |  | (45,305 | )
Net revenue |  | Ps. | 5,991,834 |  |  |  | 8,108,924 |  |  |  | - |  |  |  | 14,100,758 |
Cost of sales |  | Ps. | 2,569,082 |  |  |  | 1,951,141 |  |  |  | - |  |  |  | 4,520,223 |
Depreciation and amortization |  | Ps. | 137,496 |  |  |  | 254,690 |  |  |  | - |  |  |  | 392,186 |
Income taxes |  | Ps. | 236,306 |  |  |  | 232,954 |  |  |  | - |  |  |  | 469,260 |
Total assets |  | Ps. | 10,557,935 |  |  |  | 8,115,089 |  |  |  | (8,219,257 | ) |  |  | 10,453,767 |
Total liabilities |  | Ps. | (9,970,378 | ) |  |  | (2,404,101 | ) |  |  | 3,083,360 |  |  |  | (9,291,119 | )
| (*) | The column of eliminations corresponds to the transactions between the Group’s subsidiaries for the concepts of loans, interest income (expenses), expenses for corporate services, sales of fixed assets, initial investment in subsidiary, among the most important.
As of December 31, |  | 2023 |
Segments |  | BWM |  |  | JAFRA |  |  | Eliminations* |  |  | Total |
Interest expense |  | Ps. | (941,781 | ) |  |  | (33,581 | ) |  |  | 147,550 |  |  |  | (827,812 | )
Interest income |  | Ps. | 10,033 |  |  |  | 182,573 |  |  |  | (147,550 | ) |  |  | 45,056 |
Unrealized loss in valuation of DFI |  | Ps. | (32,591 | ) |  |  | - |  |  |  | - |  |  |  | (32,591 | )
Foreign exchange (loss) gain, net |  | Ps. | (110,103 | ) |  |  | 3,256 |  |  |  | - |  |  |  | (106,847 | )
Net revenue |  | Ps. | 5,726,608 |  |  |  | 7,282,899 |  |  |  | - |  |  |  | 13,009,507 |
Cost of sales |  | Ps. | 2,443,229 |  |  |  | 1,817,613 |  |  |  | - |  |  |  | 4,260,842 |
Depreciation and amortization |  | Ps. | 128,450 |  |  |  | 253,669 |  |  |  | - |  |  |  | 382,119 |
Income taxes |  | Ps. | 140,762 |  |  |  | 239,261 |  |  |  | -- |  |  |  | 380,023 |
Total assets |  | Ps. | 10,194,967 |  |  |  | 9,350,652 |  |  |  | (8,451,908 | ) |  |  | 11,093,711 |
Total liabilities |  | Ps. | (8,724,053 | ) |  |  | (2,920,084 | ) |  |  | 2,013,265 |  |  |  | (9,630,872 | )
(*) | The column of eliminations corresponds to the transactions between the Group’s subsidiaries for the concepts of loans, interest income (expenses), expenses for corporate services, sales of fixed assets, initial investment in subsidiary, among the most important.
As of December 31, |  | 2022 |
Segments |  | BWM |  |  | JAFRA |  |  | Eliminations* |  |  | Total |
Interest expense |  | Ps. | (546,977 | ) |  |  | (11,039 | ) |  |  | 14,695 |  |  |  | (543,321 | )
Interest income |  | Ps. | 10,607 |  |  |  | 32,777 |  |  |  | (14,695 | ) |  |  | 28,689 |
Unrealized loss in valuation of DFI |  | Ps. | (43,522 | ) |  |  | - |  |  |  | - |  |  |  | (43,522 | )
Foreign exchange loss, net |  | Ps. | (81,212 | ) |  |  | (2,156 | ) |  |  | - |  |  |  | (83,368 | )
Net revenue |  | Ps. | 6,343,344 |  |  |  | 5,164,205 |  |  |  | - |  |  |  | 11,507,549 |
Cost of sales |  | Ps. | 2,576,179 |  |  |  | 1,407,392 |  |  |  | - |  |  |  | 3,983,571 |
Depreciation and amortization |  | Ps. | 109,055 |  |  |  | 178,647 |  |  |  | - |  |  |  | 287,702 |
Income taxes |  | Ps. | 367,166 |  |  |  | 149,754 |  |  |  | - |  |  |  | 516,920 |
Total assets |  | Ps. | 8,958,162 |  |  |  | 8,154,942 |  |  |  | (5,780,371 | ) |  |  | 11,332,733 |
Total liabilities |  | Ps. | (8,363,605 | ) |  |  | (2,592,037 | ) |  |  | 720,189 |  |  |  | (10,235,453 | )
(*) | The column of eliminations corresponds to the transactions between the Group’s subsidiaries for the concepts of loans, interest income (expenses), expenses for corporate services, sales of fixed assets, initial investment in subsidiary, among the most important.
The income recognized during the years 2024, 2023 and 2022, national and foreign, is shown below:
|  | 2024 |  |  | 2023 |  |  | 2022 |
Revenue in Mexico |  | Ps. | 13,166,582 |  |  |  | 12,072,852 |  |  |  | 10,531,505 |
Revenue in United States (1) |  |  | 924,976 |  |  |  | 927,947 |  |  |  | 966,085 |
Revenue in Guatemala |  |  | 9,200 |  |  |  | 8,708 |  |  |  | 9,959 |
Total revenue of the Group |  | Ps. | 14,100,758 |  |  |  | 13,009,507 |  |  |  | 11,507,549 |
(1) | The main concentration of Jafra’s income is in Mexico, however, there is an entity in the United States which represents a smaller percentage less than 8% of the Group’s total income.
The Group considers that there are no concentration risks given the nature of the business and the sale of its products through a significant number of distributors, leaders and consultants. The percentage of consolidated non-current assets by geographic area at the end of 2024, 2023 and 2022, are shown below:
|  | 2024 |  |  | 2023 |  |  | 2022 |
|  | México |  |  | USA |  |  | México |  |  | USA |  |  | México |  |  | USA |
Property, plant and equipment |  | Ps. | 99.4 | % |  |  | 0.6 | % |  |  | 99.6 | % |  |  | 0.4 | % |  |  | 99.1 | % |  |  | 0.9 | %
Right-of-use assets |  |  | 83.6 | % |  |  | 16.4 | % |  |  | 84.1 | % |  |  | 15.9 | % |  |  | 70.0 | % |  |  | 30.0 | %
Deferred income tax |  |  | 100.0 | % |  |  | - |  |  |  | 100.0 | % |  |  | - |  |  |  | 100.0 | % |  |  | - |
Intangible assets (including Goodwill) |  |  | 100.0 | % |  |  | - |  |  |  | 100.0 | % |  |  | - |  |  |  | 100.0 | % |  |  | - |
Account receivable from sale of properties |  |  | 100 | % |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Other assets |  |  | 88.6 | % |  |  | 11.4 | % |  |  | 97.7 | % |  |  | 2.3 | % |  |  | 97.4 | % |  |  | 2.6 | %
Total non-current assets (5) |  | Ps. | 98.9 | % |  |  | 1.1 | % |  |  | 99.0 | % |  |  | 1.0 | % |  |  | 98.4 | % |  |  | 1.6 | %
(2) | Betterware of Guatemala and Betterware Peru (the geographical area of Guatemala and Peru), represents 0.0% of the Group’s non-current assets, for the years 2024, 2023 and 2022.

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