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23 de março de 2005
4Q05 and FY05 Earnings Results
February 23, 2006
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2
>
Consolidated Gross Revenues (R$ million)
consolidated gross revenues
CAGR (2001-2005) = 29.1%
1,168
1,411
1,910
2001
2002
2003
2004
2,540
3,244
2005
+27.7%
801
4Q04
1.030
4Q05
+28.5%
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EBITDA
>
EBITDA (R$ million)
CAGR (2001-2005) = 42.7%
+30.8%
135
199
296
432
564
143
195
2001*
2002
2003
2004
2005
4Q04
4Q05
+36.5%
(*) Natura Empreendimentos figures.
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EBITDA margin
16.6
20.1
22.2
24.4
24.7
25.3
26.8
2001
2002
2003
2004
2005
4Q04
4Q05
>
EBITDA Margin (%)
+1.5pp
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>
Target Market
1
­ Net Revenues (R$ billion, nominal)
CF&T target market - Brazil
CAGR (2000-2004) nominal
16.6%
CAGR (2000-2004) real
2
6.8%
4.7
5.3
6.3
7.2
8.7
6.8
8.0
2000
2001
2002
2003
2004
10mos04
10mos05
+20.8%
+16.5%
(1) Target market: Skin care, sunscreen, makeup, perfums, fragrances, hair care, shaving products and deodorant - excludes diapers, nail
polishes, sanitary pads, hair dyes and oral hygiene. Source: Sipatesp/ ABHIPEC.
(2) Deflated by IPCA.
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market share CF&T target market- Brazil
13.9
14.3
14.5
17.1
2000
2001
2002
2003
2
2004
18.6
18.6
20.6
>
Natura's Market Share ­ Target Market
1
(%)
+2.0pp
(1) Target market: Skin care, sunscreen, makeup, perfums, fragrances, hair care, shaving products and deodorant - excludes diapers, nail
polishes, sanitary pads, hair dyes and oral hygiene. Source: Sipatesp/ ABHIPEC.
(2) Natura Empreendimentos figures.
10mos04
10mos05
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innovation
% of net revenues
>
Investments in Innovation (R$ million)
3.3%
2.9%
2.7%
2.7%
2.9%
27
29
36
47
67
2001
2002
2003
2004
2005
+41.5%
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>
Number of New Products and Total Innovation Index
(innovation+improvements)
total innovation index
number of new products
44.9%
43.5%
48.8%
63.2%
69.8%
165
91
117
182
156
2001
2002
2003
2004
2005
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consolidated sales channel
>
Consolidated Number of Consultants* (thousands)
CAGR (2001-2005) = 14.7%
300
321
375
433
519
2001
2002
2003
2004
2005
+19.8%
(*) Number of consultants at Argentina, Brazil, Chile and Peru.
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sales channel in Brazil
287
307
355
407
483
2001
2002
2003
2004
2005
>
Consultants in Brazil (thousands)
CAGR (2001-2005) = 13.9%
+18.7%
(*) Number of consultants at the end of the 17th sales cycle.
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CAGR (2001-2005) = 9.7%
+6.6%
consultants productivity in Brazil
>
Productivity in Brazil (R$ thousand per average active consultants)
8.5
9.0
10.5
11.5
12.3
3.4
3.6
2001
2002
2003
2004
2005
4Q04
4Q05
+7.6%
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13
14
20
26
36
2001
2002
2003
2004
2005
>
Consultants in Argentina, Chile and Peru (thousands)
CAGR (2001-2005) = 29.0%
+37.7%
sales channel in Argentina, Chile and Peru
(*) Number of consultants at the end of the 17th sales cycle.
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CAGR (2001-2005) = 6.5%
+6.5%
consultants productivity in Argentina, Chile
and Peru
>
Productivity in Argentina, Chile and Peru
(US$ thousand per average active consultants)
2.1
1.5
2.1
2.5
2.7
0.74
0.68
2001
2002
2003
2004
2005
4Q04
4Q05
+8.1%
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CAGR (2001-2005) = 32.9%
gross revenues - Argentina, Chile and Peru
>
Gross Revenues - Argentina, Chile and Peru (US$ million)
11.6
9.3
15.8
24.1
36.2
7.5
11.6
2001
2002
2003
2004
2005
4Q04
4Q05
+50.3%
+53.7%
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operational margin - Argentina, Chile and Peru
-86.9
-46.5
-26.0
-16.7
-12.9
-17.5
-12.9
2001
2002
2003
2004
2005
4Q04
4Q05
>
Operational Margin - Argentina, Chile and Peru (%)
Note: Figures shown on the table above do not include Mexico and Venezuela operations. Structuring expenses regarding new operations in other
Latin America countries were excluded (US$1.1 million in 2005 and US$0.2 million in 2004).
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international expansion
>
Total Net Expenses* (R$ million)
7.5
31.8
35.0
2004
2005
2006E
(*) Considers operating loss from existing operations (Argentina, Chile and Peru) added to, (i) new operations (Mexico and France); and
(ii) exchange rate impact on controlled companies balance sheet translations, excluding reported gains in trading from Brazil to these
companies.
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CAPEX
25
24
83
2002
2003
2004
112
2005
>
CAPEX (R$ million)
(*) Natura Empreendimentos figures.
39
2001*
180
2006E
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cash flow consolidated figures
R$ million
2005
2004
% change
Net income for the period
397
300
32.2
(+) Depreciation
44
34
28.2
(+) Other non-cash expenses
42
51
-18.7
(=) Cash generated before working capital,
long-term receivables and long-term liabilities
482
386
25.1
(-) Changes in working capital, long-term receivables
35
99
-64.6
and long-term liabilities
(=)Operating cash generation
447
286
56.3
(-) CAPEX
112
83
34.4
(=)Free cash generation
336
203
65.2
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dividends and interest on capital
Payout 2005
Net income
80.5%
Free cash generation
95.2%
Dividends + Interest on capital (net)
per share
2004
R$2.50
2005
R$3.70
>
Total Dividends and Interest on Capital, net (R$ million)
2005
314
216
2004
+48.0%
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responsabilidade
corporativa
Social Results: Crer para Ver line
2005
2004
05 x 04
Gross revenues
(R$ million)
8.9
8.3
5.9%
Selling of products from Crer para Ver line:
Environmental Results
Natura's average environmental impact*
10.1
2005
2004
10.6
Effective enrollments for the year:
66.6
50.0 students
17.4
2005
2004
15.3
estratégia de negócio
2005
Target
social corporate responsibility
Social Results: EJA
(Young and Adults Education Program)
Number of enrollments
(thousands
):
Life cycle assessment (LCA) and Selling of refill:
100 % of launched products under LCA packaging analysis
% of refill over total items sold
(*) This indicator considers weighted average environmental impact and number of items sold.
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This presentation contains forward-looking statements. Such statements are not statements of historical
fact, and reflect the beliefs and expectations of the Matura's management. The words "anticipates",
"wishes", "expects", "estimates", "intends", "forecasts", "plans", "predicts", "projects", "targets" and
similar words are intended to identify these statements, which necessarily involve known and unknown
risks and uncertainties. Known risks and uncertainties include, but are not limited to, the impact of
competitive products and pricing, market acceptance of products, product transitions by the Company
and its competitors, regulatory approval, currency fluctuations, production and supply difficulties, changes
in product sales mix, and other risks. This presentation also includes pro-forma information prepared by
the Company for information and reference purposes only, which has not been audited. Forward-looking
statements speak only as of the date they are made, and the Company does not undertake any obligation
to update them in light of new information or future developments.
www.natura.net/investor