Financial Data and Key Metrics Changes - Consolidated revenue grew by 5.1% year over year and 1.8% quarter on quarter, indicating a recovery from previous challenges [3] - Consolidated EBITDA increased by 3.5% year over year to MXN 679 million, with a margin of 19.1% [18] - Free cash flow rose to MXN 592 million, achieving a year-to-date conversion of 44.2% of EBITDA [20] - Consolidated EPS grew by 7.7% year over year, supported by revenue and EBITDA increases [21] Business Line Data and Key Metrics Changes - BetterWare Mexico's revenue increased by 4% quarter on quarter, recovering from a 9.8% year over year decline in Q1 [4] - Jafra Mexico's revenue rose by 10.9% year on year, with an EBITDA margin expanding to 21.2% [7] - Jafra US experienced an 8.9% year over year revenue decrease but rebounded by 15.6% quarter on quarter [11] Market Data and Key Metrics Changes - The associate base for BetterWare Mexico grew from 649,000 to 670,000, a 3.3% quarter on quarter increase [5] - Jafra's associate base increased by 2.3%, with average monthly ticket rising over 9% [10] - The company successfully launched Better Work Ecuador, surpassing its Q2 goal with 2,500 active associates [14] Company Strategy and Development Direction - The company is focusing on internal strategies to drive growth, including pricing and merchandising techniques [25][26] - A new compensation plan and market-specific innovations are being implemented in Jafra US to foster growth [12][13] - Geographic expansion is a key growth pillar, with plans to assess the Colombian market for entry in 2026 [15] Management's Comments on Operating Environment and Future Outlook - Management noted slight stabilization in consumption trends, attributing more growth to internal strategies rather than macroeconomic improvements [25][29] - There is still uncertainty in the macro environment, but a stable environment is expected to support growth [29] - Management expressed confidence in achieving a positive second half of the year based on strong fundamentals and strategic pillars [48] Other Important Information - The consolidated gross margin was 67.1%, reflecting commercial investments in pricing strategies [17] - The company proposed a MXN 200 million dividend for Q2 2025, marking the twenty-second consecutive dividend since its IPO [21][22] Q&A Session Summary Question: How much should you attribute to a better macro and consumer environment versus company-specific initiatives? - Management indicated that while there was slight stabilization in consumption, internal measures were more significant in driving results [25][26] Question: What are the key drivers to achieve the full year guidance of 6% to 9% revenue and EBITDA growth? - Management expects stability in consumption trends and highlighted the growth in the associate base as a positive sign for future quarters [27][28] Question: What areas are there more efficiencies to get back to the 23% to 24% EBITDA margin? - Management identified improvements in gross margin, lower freight costs, and internal strategies to enhance product accessibility as key areas for margin improvement [30][31][32] Question: What opportunities are seen in the Chinese market? - Management noted opportunities to work closely with suppliers to improve product design and efficiency, although no significant changes were anticipated [39] Question: How should we think about inventory productivity going forward? - Management reported a decrease in inventory levels and a strategy to push existing products while reducing purchases to normalize inventory [40][41] Question: How should we view the thirtieth anniversary celebration as a potential driver? - Management believes the anniversary reinforces trust and confidence among associates and distributors, contributing to growth strategies [44]