natura exame magazine

8/3/2019 Natura EXAME Magazine

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NATURAThe Company o The year I t idd t gst cisis i ct dcds, ntu s t cug t ivt its.Sic t, it s t std gwig.

A YeAR foR ThehisToRY BooksNatura vrcam t gratt cr n rcnt tm and – mt mprtant – t n lmtatn.

Tu, t bcam t Cmpany t Yar BesT AND BiGGesT

CrISTIane mano d melIna CoSTa

T ws t tst t uit xcutiv. o t st xt — d d — is t ig t wit ti subdits i i vit. outsid t c, t isi ( tdisct) wit t bss i g bcs v c. B tis citi, c s tt assd

Cucci, Ceo ntu, t gst cstics c i Bzi, is st ct st. a vt Ju18 vd is u cbit. Tt igt, t c bugt tgt 100 tisi gs ditts Bzi i Sã pu, w t civd iz ti gd c i 2008. Giv t tis, t ts ws i t osc C, wit w wig g gws, ig s d (bvius) t u. T gs, ssib t ctct wit t 742,000 ssw ntu, w t d tz dt. hwv, t swd tusis w t w wcd b Cucci, 43- d gt, t wit t iz. h gtd t b wi t s witd tit ii t tuit t ug d iss i. B t iz c, aê — s v cs i — d tuds g t w i vit tt ws u cbit wsi. S t w isd qustisbut di tts, suc s w t cbi w wit i i. ots wtd t t tgwit t Ceo. “W di i,” sid eizbt Cisti Bizz, tisi g wit ntu 14 s dssib cditig t w 860 csutts i Sã Gç, cit i t tit gi ri d

Ji. “h is v id d cits u w bcus is s wd is w u tug t c”.

T stiv cit c b g xid b t gd tis tt ntu is jig. T c s gd tdistc its t gb cisis— i sig sistc t Bzii csu t — t t s ti tt it sws tt it s vc t st citic ss i its 40- ist. T ci suts civdi 2008, its sctcu c i t st qut 2009 d its ist vcig its w iittis d t ntu big cs b eXame gzi t C t y 2009 maIoreS anD melhoreS. Tgst cstics uctu i Bzi, ntu cctd its gwt i t scd 2008, w tcisis sd tugut t wd. Icudig t ss isid d utsid Bzi, biigs cd 4.9 bii Bzii isst , gwt 14% i ti t 2007. Ic cd 542 ii is. ast 70% vus c ducts ucd v t st tw s — vidc ntu’s ccit ivti, sutd, bv , b itssustibiit . T gus bc v xssiv i istic sis. accdig t dt maIoreS e

melhoreS, ntu’s biigs gw 49% i v s, discutig t viti i t IGp-m ic idx. Tis xsiws fctd t Sã pu Stc excg (Bvs). ntu’s ss cd m 18 — u 390%sic t Ipo i m 2004. ntu is t csu gds c tt s icsd i vu t st v t st12 ts t Bvs (s bx t xt g). “T c is xicig t bst s i its ist s ubic tdd c”, sid t st ad Tixi Jpmg, i st ct t.

1

CoVeR



The eXPANsioN iN NUMBeRs ntu’s biigs d ic ctic dubd v t st v s...

siZe of NATURA ToDAY

GROSS REVENUES (in billions of reais)

NET INCOME (in millions of reais)

2.5

3.2

3.9

4.3

4.9

GROWTH ABROAD The company intends to

quadruple sales in Latin America by 2012

135 millions

of dollars

500 millions

of dollars

Bill ing in 2008 Goal for 2012

Natura 12.8%

Unilever 9.9%Avon 9%

Procter&Gamble 6.8%

Colgate-Palmolive 6%

4,386 s i Bzi d 1,312i lti aic d c

. . . suig its dsi i t t gi dbut ducts i Bzi. S t t s tdig uctus i 2008

742,000 dict ss csuttscss t cut

118 w ductsucd i 2008

67.5% ss c ductsucd v t st tw s

2



NATURA oN The sToCk eXChANGeT c t c’s ss sic it wt ubic i 2004 (i is)

SoUrCe: ecátic

iN A BRoADeR PeRsPeCTiVe, ntu’s c s u t sci i wic Bzi sists twdwid cisis. Sic 94% its vus c t dstic t, t gus dict fct t icsi csuti i Bzi. ov t st u s, s 23 ii Bziis td t C Css sci cssicti.Ts v sttd t csu , bu wid g ducts d s bds s sb ig sci sttus. accdig t dt Tdêcis csutts, t vu ti ss gw 9% i 2008 —d sudics t 2% b t d tis (wi t stit is tt GDp wi d 0.6%).

at t s ti, ntu bts t . I situtis dicut d iscuit but tutu — sci tt is tic c iss — csus ut buds ds, suc s w c, but

td t bu c its tt sw ics ti s-st. Tis csti cisis v c i t cs cstics tt isid t cti t listic Idx. Dvd b t U.S.uctu esté lud duig t 2001 cisis, tis idict ts cssis t t ics i t csuti but ducts. T ct c t cstics sct i Bzi sws tt t gic suc idxis s w. T Bzii t is t tt s gw t st g t t gst i t wd.It dd 28.7 bii U.S. ds i 2008, 27% t t vius . T euit csutig c csts tt Bzi wi bc t wd’s scd gst csu cstics d s gi ducts i2011, bid t Uitd Stts.

The partners Antonio Luiz Seabra,

Guilherme Leal and Pedro Passos

move to the Board of Directors and

Alessandro Carlucci, who was the

Business Vice President, becomes

the company’s CEO

340%is the appreciation of

Natura’s shares since the

initial public offering

For the rst time in its history,

Natura overtakes its competitor

Avon in billings and business

volume in Brazil

The company releases the 2007

results, the worst year since the

initial public offering. On the

same day, Carlucci presents a

recovery plan

Sales increase 17% in the last

quarter of 2008, the period in

which Brazil was most affected

by the global nancial crisis

Natura’s net income grows

77% in the rst quarter of

2009 and sales increase 25%

The rst results of the

restructuring are presented.

Sales increased 18% in the third

quarter of 2008

May 25,

2004

February 25,

2005

December 26,

2006

February 27,

2008

February 18,

2009

April 22,

2009

October 22,

2008

June 30,

2009

5.87

12.42

18.47

15.75 16.44

20.30

24.1225.86

BRAZILIANS KEEP ON BUYING MORE

Even in the midst of the world crisis, consumption has continued to grow.

See the performance of some of the leading sectors1 (in %)

(1): Measured by the increase in sales growth rates (in volume). (2): Including hypermarkets and supermar kets.

Note 2: Including hypermarkets and supermar kets. (3): Includes pharmaceutical, medical and orthopedic supplies.

SOURCES: Brazilian Institute of Geography and Statistics (IBGE) and MB Associates

Furniture and white goods

11.2

7.5

3.5

15

7.2

5.7

14.8

9.9

6.7

16.6

12.2

5.9

14.2

12.7

5.46

12.4

10.3

6.1

1.74

-9.6

January

2009

May

2009

July

2009

December

2009

January

2007

July

2007

January

2008

July

2008

Food, beverages and tobacco2

Perfumes and cosmetics3

3



AMoNG The LARGesT

Bzi is t tid gst csu cstics i t wd(i biis U.S. ds)

CoUNTRY sALes GRowTh

1 Uitd Stts 52,14 -0,1%

2 J 33,75 12%3 Brazl 28,77 27,5%

4 Ci 17,73 22%5 G 16,86 8%SoUrCe: euit, 2008 dt

The TRiUMPh of DooR-To-DooR

t cstics sgt, t dict ss c gws st t tditi ti

Partcpatn drct al Partcpatn rqunt

n t al n t ctr buyr n dr-t-dr4

2007 2008 2007 2008

(4): p w bugt t v tis SoUrCe: nis

But ntu wud t v g usctd b t cisis witut vig vius svd s tt. I 2007, t t gtst ui i csuti i Bzi i t st dcd, t c — t st succss-u xs t w Bzii citis — st tbiit d t s. I t ut qut tt , tt vus its i Bzii ctit, U.S. c av, gw 40%. ntu’s, 9%. Ivsts ctd quic.o t d t c’s u suts w discsd, i bu 2008, t ss w wt 42% ss t i Ju 2007. accustd t big ixustib suc gd ws, ntu xicd its st j stbc sic gig ubic. at t ti, t c ws ddictd t bd itti xsi , t tgt wicws egd, russi d t Uitd Stts. Wit t sc, vtig ws susdd. “W did’t ustt tsts d ivsts. W w bw u w xcttis,” sid Cucci.

t st ti sic its cti i august 1969, ntu t bigd t b j d iu stuctuigcss. T cctd xsi d sid ct — its stuctu d sw d gw suggis. “Gwigis xist i g c. ad tis d t ntu,” sid Gui l, t t ctigsds t c, tgt wit ati luiz Sb d pd psss. Cucci ws i cg divig

t cgs tt gd t gizti ssw t t vic sidt xcutivs. h is is duct ntu — cditi tt usu s t idticti bs d ti sutis v cx ts. his c, t i wic tts s d custs, t itic cct wds d tciviizd ctitivss w gd duig t 19 s wd t c, wic jid t gdutigi Busiss adiistti t Gtúi Vgs udti i Sã pu. “W w ud gt d ssuisid d utsid t c,” sid Cucci. “Tis css sutd i . But, it ws’t st.” T css cg quid ddicti s Sb, l d psss, w v sd t Ci t Bd Dicts sic bu 2005, w t d Cucci Ceo. T sttd tt st t w cd t v t c t dig c Js, tt cts t ivstts t ts (suc s itsts i Dg rid Id Ivst) t t ticit i tigs t t dquts ntu, d buidig i Cj,i Gt Sã pu. T igt t stuctuig css, i Ju st , cicidd wit t tu Sb st t s i ld. “ou ticiti i t css ws t cv u cvicti tt t cg wud

big t c cs t its udts wit id dcisi-ig”, sid. T xtt t stuctuig css bc c wit t ct t ti si gt (wit txcti Cucci, cus). Td, t gst svig b t excutiv Citt, t i tidcisi-ig bd t c, s b wit t c d . h is Jsé Vict mi,

T prjctn

ndcat tat Brazl

ll bcm t

rld’ cnd largtmart n 2011

10% 18%14% 23%

4



w t t Cisi Js & Js i Bzi t bc t Busiss Vic psidt ntu i bu 2008.a t t, mc Cds, Ceo t u sucs csutig c DBm, ssud t w ctdsiti ogizti Dvt d Sustibiit Vic psidt. I Ju tis , rbt pdt, cs,ivd ni. ag t citi t cic ts t , ccdig t Cucci, ws t dissiti twdsdcisis b cssus — t udts ntu —d ti ccit t discuss busiss i its disis,gdss t sitis t ccu. Cucci d t t w Vic psidts s t s c. T c issig t tw Vic psidts — gistics d t d t ivti . pt ts cts c

b xid, ccdig t i, b t d w . ( t siti Ivti Vic psidt, x, db edud lui uti st , t c is ig, tgt wit t U.S. csutts Sc Stut, ssiwit itti xic.) at s t cgs t t t, ccdig t t ctig sds, isst sbic — t b Cucci t cs is w t. T vius cs w iitd t ctigsds. “W civd tt tis ws itt s cud dv tuig wit is w t,” sid l.

I octb, t st six ts csiv stud udt wit t Gdus csutts, ntuucd t iiti 200 sitis. I st dtts, ti icic v s disd. ax is t ic Dtt, wic cditd s suc s t Ct’s c d Tsu. Wit t iiti t siti, t subditd uctis sttd t t dict t Vic psidt pdt. I tis s id, 75sitis w ctd. a gd t t i t w stuctu v gi cs — tt w v ssi ts, ss t tig. “T g is t big dcisi-ig cs t t busiss d,” sid mi. “W , i

t xt v s, t b b t uc ducts i ccdc wit c tsts.”

T d i ductivit ts g ssw d t c t ct w siti: t ntu Csuttadvis (i st vtig d t i ntu’s vcbu, tis siti s us ). Subditd t t rtisi mgs (c s), t w i cg t 742,000 iddt sswsd css Bzi. Td, c t 8,000 nCas, s t w w, gs btw 80 t 100 csutts.“Witut t w cdits, t gs cud’t v g t c t ssw ti bitds,” sidCds. I t c, tis issu wud t v t s itc, but ntu bivs tt stisi wit t ss c s dic. ev td, t ud, Sb, ticits i t wd cis s — ws t t vt wit t rtisi mgs d i Ju, x. h s s t bit cig t bitds s t ssw wit t gst ist wit t c. T ut stgt ttisi wit t csutts, t c d t ntu huss i Gt Sã pu w ws g d isig t t tw i t s gi tis . T sc is itdd, bv , tiig s.

iN A CoMPANY whose hisToRY is cctizd b cctd gwt d w stbcs, cst cuttig s ss b issi. Duig t stuctuig css, wv, it bc c tt t ss t gus ts ducigxss d bc ivitb. I 2008, ntu svd 94 ii is wit si iititivs, suc s t cg d t ducti i t ub gs i t c’s ss ctgu — 140 t 122. Wit tis, it gid t ic its dvtisig ivstts. Btw 2008 d 2010, ntu sud ivst dditi 400 ii is itig. T div wi b citic t g d-t-d wit ctits suc s av, wic icsd its ivstts idvtisig b 40% i Bzi btw 2005 d 2008. “T suts ntu’s cti s xctd t ctiu tdiv t ss gwt t xt tw s,” sid mi Wtz, st t Bc d Bsi.

at t ct t c’s ttti w is s t xsi it lti aic, wic is csidd cuci utu gwt. T ti i Ci, x, ws stbisd 27 s g, but td ntu’s s i tt cstics sd d-t-d i tt cut is ig t 2.6%. “T bc vt, w w ttw d t v c ducts,” sid Cucci. Td, ntu ts t s ducts sd i Bzi t ts cu- tis. at tis, t bs t v tstd, suc s i t cs t mã d Bbê duct i, wscgig s t i ptugus i Ci d agti. T c c cts ctitivssw cd wit stbisd ctits. o t is Bc, w t l’B pis bd, dqutd ipu. Wit iu ic siti, sii t tt ntu, l’B pis is g t ds i Ci , Cbid Vzu — t tgts ntu. T j iv, bt isid d utsid t cut, wv, is av. ltiaic is t gi i t wd w tis utiti s gw t tw-digit t i t st qut tis . av, Bzi is t scd gst t i ss d t st i gwt d tbiit – d, t-, it is iit its t c. T U.S. c esté lud, wic d ss bds suc s mc

d Ciiqu i t Bzii ti t, is csidig t d-t-d d. c’s l’oé d its stbt i Bzi i 2008. T g is t t t c cs t bc t d i w-cst cstics.

Ts t t gwt t Bzii t, t v b cut us but ssib cquisiti ntub ig cis. “T ucs ntu td is v ui d xsiv,” sid st Di Bttu

5



rd Js b. hwv, tis situti cg. o Ju 2, t c dvisd tt it ws csidig cgig itsstict tcti gist sti s. Uti w, t B-lws stt tt i sd gu cquis 15% t ss,it ust t bu t ss t iig ivsts. t sts itviwd b eXame, t su b td t w stc issu b t c. T d u cud div w ivsts itstd i t ss. Cut, t ct-ig sds d 73% t c, ws t vu is 11 bii is. It is scutd tt scd issu, sti wit st dt , wud is btw 1.6 d 1.8 bii is. I tis cs, Sb, l d psss wud ctiu t b jit sds wit 58% t ss. B dtiti t Bzii Scuitis Cissi (CVm), t t ct-

ig t dcisi. T stt ti itti t iti t ct. “W v v d, d w w v it-st i sig ntu,” sid Sb, w itds t icud t tig wit t rtisi mgs is gd xt .

aDVerTorIal

PRess ReLeAse

ntu Csétics S.a. (“C”), usut t t mti ct ubisd b t C Ju 2, 2009, dviss tt it s d qust t gistti scd ubic ig ss (“oig”) b s tSiid pcdu Ju 2, 2009. T oig ws vius subittd t sis t nti assciti Ivstt Bs - anBID (“anBID”) d t Bzii Scuitis Cissi - CVm (“CVm”), b s gt sigd b CVm d anBID, d is subjct t i v d gistti b CVm.

accdig, t pii psctus d wit anBID d vib t wbsits bt t C danBID, sud b t dcut t b csidd b tti ivsts dcisi-ig ivstt

i t C’s ss, d it ctis vt iti t C t uss t oig. adig t pii psctus vids dtid sis t ts d cditis t oig d t iss it t it.

T juistic tt ubisd i tis issu is t s ssibiit t dits eXame gzi.

naTUra CoSmÉTICoS S. a.

BaCk CoVer

To RefLeCT iN The showeR

hu bigs wi b b t v ius tisi wit tsvs i t v iustisi wit t w. Tis is t visi tt isis t w ntu.

T ntu es i Tisic ois uss igdits ic Bzii bidivsit tt xtctd i sustib w b tiv cuitis t sts.

Vuig tis wisd svs tu sucs utu gtis d ws t wss tt dtu d t s.

ntu—w big w

6

imag p18/19 CarlUCCI, The Ceo, WITh proDUCTIon employeeS:ntu ws t csu gds c tt icsd t sti vu v t st 12 ts t Bvs

imag p. 22/23The ConTrollInG ShareholDerS peDro paSSoS,GUIlherme leal anD anTonIo lUIZ SeaBra (rom leT To rIGhT): ddicti t t c duig t stuctuig id

imag 1 p.20 The pop STar Ceo reCeIVeS TheCompany’S manaGerS In a parTy In JUne:ts u cbit wsi

imag p.25 “naTUra hoUSe”, In TheSoUThern reGIon o SÃo paUlo: tigc d tiig ct ssw

imag 2 p.20 peDoTe, marIno anDCarDoSo: Cucci’s w t

imag p.26 eXTraCTIon o BraZIl nUTSIn The amaZon: t sustib is t is its ctivss

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