Betterware de Mexico Files 2023 Annual Report on Form 20-F

TL;DR

<b>Betterware de Mexico filed its 2023 annual report on Form 20-F, detailing its financial performance and operational status.</b>

AI Summary

BETTERWARE DE MEXICO, S.A.P.I. DE C.V (BWMX) filed a Foreign Annual Report (20-F) with the SEC on April 30, 2024. Betterware de Mexico, S.A.P.I. de C.V. filed its annual report on Form 20-F for the fiscal year ended December 31, 2023. The company's ordinary shares trade on The Nasdaq Stock Market LLC under the symbol BWMX. As of December 31, 2023, there were 37,316,546 ordinary shares outstanding. The filing is for the fiscal year ended December 31, 2023. The company's principal executive offices are located in Zapopan, Jalisco, Mexico.

Why It Matters

For investors and stakeholders tracking BETTERWARE DE MEXICO, S.A.P.I. DE C.V, this filing contains several important signals. This filing provides investors with a comprehensive overview of Betterware de Mexico's financial health and strategic direction for the fiscal year 2023. As a 20-F filing, it is a mandatory annual report for foreign private issuers like Betterware de Mexico, offering crucial information for investment decisions.

Risk Assessment

Risk Level: low — BETTERWARE DE MEXICO, S.A.P.I. DE C.V shows low risk based on this filing. The filing is a standard annual report (20-F) and does not contain new material events or significant financial disclosures that would alter the risk profile.

Analyst Insight

Review the full 20-F filing for detailed financial statements, risk factors, and management discussion to understand the company's performance and outlook.

Key Numbers

• 20231231 — Fiscal Year End (Conformed period of report)
• 20240430 — Filing Date (Filed as of date)
• 37,316,546 — Ordinary Shares Outstanding (As of December 31, 2023)
• BWMX — Trading Symbol (Ordinary Shares)

Key Players & Entities

• BETTERWARE DE MEXICO, S.A.P.I. DE C.V. (company) — Filer name
• BWMX (company) — Trading symbol
• The Nasdaq Stock Market LLC (company) — Exchange where ordinary shares are registered
• Luis Campos (person) — Board Chairman
• 37,316,546 (dollar_amount) — Number of ordinary shares outstanding as of December 31, 2023

FAQ

Industry Context

Betterware de Mexico operates in the retail catalog and mail-order houses industry, as indicated by its SIC code 5961.

Regulatory Implications

As a foreign private issuer incorporated in Mexico, Betterware de Mexico is subject to SEC regulations for its filings, including the annual 20-F report.

What Investors Should Do

1. Analyze the financial statements within the 20-F for revenue, net income, and other key performance indicators.
2. Review the 'Risk Factors' section for any new or updated risks affecting the company.
3. Examine the 'Management's Discussion and Analysis of Financial Condition and Results of Operations' for insights into business performance and strategy.

Key Dates

• 2023-12-31: Fiscal Year End — The period covered by the annual report.
• 2024-04-30: Filing Date — Date the 20-F report was filed with the SEC.

Year-Over-Year Comparison

This is the initial 20-F filing for the fiscal year 2023, following previous filings for earlier periods.

Key Financial Figures

• $ — d or the context otherwise requires: "$," "US$" and "U.S. dollar" each refer to
• $10.00 — ing were sold at an offering price of US$10.00 per unit, generating total gross procee
• $55,650,000 — t, generating total gross proceeds of US$55,650,000. The Merger On August 2, 2019, DD3
• $22,767 — to the DD3 shareholders and obtained US$22,767 (Ps.498,445) in cash through the acquis
• $7,519 — n that date, for net cash earnings of US$7,519 (Ps.181,734) on su

Filing Documents

• ea0204415-20f_better.htm (20-F) — 4172KB
• ea020441501ex2-1_better.htm (EX-2.1) — 13KB
• ea020441501ex8-1_better.htm (EX-8.1) — 4KB
• ea020441501ex12-1_better.htm (EX-12.1) — 10KB
• ea020441501ex12-2_better.htm (EX-12.2) — 10KB
• ea020441501ex13-1_better.htm (EX-13.1) — 4KB
• ea020441501ex13-2_better.htm (EX-13.2) — 4KB
• ea020441501ex97-1_better.htm (EX-97.1) — 52KB
• image_001.jpg (GRAPHIC) — 23KB
• image_002.jpg (GRAPHIC) — 78KB
• image_003.jpg (GRAPHIC) — 107KB
• 0001213900-24-037698.txt (&nbsp;) — 19513KB
• bwmx-20231231.xsd (EX-101.SCH) — 230KB
• bwmx-20231231_cal.xml (EX-101.CAL) — 53KB
• bwmx-20231231_def.xml (EX-101.DEF) — 592KB
• bwmx-20231231_lab.xml (EX-101.LAB) — 1197KB
• bwmx-20231231_pre.xml (EX-101.PRE) — 619KB
• ea0204415-20f_better_htm.xml (XML) — 4422KB

Item 18

Item 17 Item 18 If this is an annual report, indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes No TABLE OF CONTENTS CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS ii SUMMARY OF RISK FACTORS iii CERTAIN CONVENTIONS vi CURRENCY PRESENTATION vi PRESENTATION OF FINANCIAL INFORMATION vi PRESENTATION OF INDUSTRY AND MARKET DATA xi PART I 1 ITEM 1. IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS 1 ITEM 2. OFFER STATISTICS AND EXPECTED TIMETABLE 1 ITEM 3. KEY INFORMATION 1 ITEM 4. COMPANY INFORMATION 21 ITEM 4A. UNRESOLVED SEC STAFF COMMENTS 31 ITEM 5. OPERATING AND FINANCIAL REVIEW AND PROSPECTS 31 ITEM 6. DIRECTORS, SENIOR MANAGEMENT AND EMPLOYEES 53 ITEM 7. MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS 62 ITEM 8. FINANCIAL INFORMATION 63 ITEM 9. THE OFFER AND LISTING 63 ITEM 10. ADDITIONAL INFORMATION 64 ITEM 11.

QUANTITATIVE AND QUALITATIVE DISCLOSURES REGARDING MARKET RISK

QUANTITATIVE AND QUALITATIVE DISCLOSURES REGARDING MARKET RISK 75 ITEM 12.

DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES

DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES 78 PART II

CONTROLS AND PROCEDURES

CONTROLS AND PROCEDURES 79 ITEM 13. DEFAULTS, DIVIDEND ARREARAGES AND DELINQUENCIES 79 ITEM 14. MATERIAL MODIFICATIONS TO THE RIGHTS OF SECURITY HOLDERS AND USE OF PROCEEDS 79 ITEM 15.

CONTROLS AND PROCEDURES

CONTROLS AND PROCEDURES 79 ITEM 16. Reserved 82 ITEM 16A. AUDIT COMMITTEE FINANCIAL EXPERT 82 ITEM 16B. CODE OF ETHICS 82 ITEM 16C. PRINCIPAL ACCOUNTANT FEES AND SERVICES 82 ITEM 16D. EXEMPTIONS FROM THE LISTING STANDARDS FOR AUDIT COMMITTEES 83 ITEM 16E. PURCHASES OF EQUITY SECURITIES BY THE ISSUER AND AFFILIATED PURCHASERS 83 ITEM 16F. CHANGE IN REGISTRANT'S CERTIFYING ACCOUNTANT 83 ITEM 16G. CORPORATE GOVERNANCE 83 ITEM 16H. MINE SAFETY DISCLOSURE 84 ITEM 16I. DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS 84 ITEM 16J. INSIDER TRADING POLICIES 84 ITEM 16K. CYBERSECURITY 84 PART III 86 ITEM 17.

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS 86 ITEM 18.

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS 86 ITEM 19. EXHIBITS 87

SIGNATURES

SIGNATURES 88 i CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This annual report contains a number of forward-looking statements, including statements about the financial conditions, results of operations, earnings outlook and prospects and may include statements for the period following the date of this annual report. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. Forward-looking statements are typically identified by words such as "plan," "believe," "expect," "anticipate," "intend," "outlook," "estimate," "forecast," "project," "continue," "could," "may," "might," "possible," "potential," "predict," "should," "would" and other similar words and expressions, but the absence of these words does not mean that a statement is not forward-looking. The forward-looking statements are based on the current expectations of the management of the Company (See "Presentation of Financial Information"), as applicable, and are inherently subject to uncertainties and changes in circumstance and their potential effects and speak only as of the date of such statement. There can be no assurance that future developments will be those that have been anticipated. These forward-looking statements involve a number of risks, uncertainties or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. Given these uncertainties, you should not rely upon forward looking statements as predictions of future events. These risks and uncertainties include, but are not limited to, those factors described in "Risk Factors," those discussed and identified in public filings made with the Securities and Exchange Commission ("SEC") by Betterware and the following: the inability to profitably expand into new markets; the possibility that the

View Full Filing

View this 20-F filing on SEC EDGAR