Mexico City, October 25, 2023, Coca-Cola FEMSA, S.A.B. de C.V. (BMV: KOFUBL, NYSE: KOF) (“Coca-Cola FEMSA”, “KOF” or the “Company”), the largest Coca-Cola franchise bottler in the world by sales volume, announces results for the third quarter of 2023.
THIRD QUARTER HIGHLIGHTS
- Volume growth 11.6%.
- Revenue growth 10.1%.
- Operating income growth 15.3%.
- Majority net income growth 23.0%.
- Earnings per share1 were Ps. 0.32. (Earnings per unit were Ps. 2.56 and per ADS were Ps. 25.61.).
- Achieved more than 946 thousand monthly active buyers on Juntos+, our omnichannel B2B platform.
FIRST NINE MONTHS HIGHLIGHTS
- Volume growth 8.4%.
- Revenue growth 9.2%.
- Operating income growth 13.0%.
- Majority net income growth 19.1%.
- Earnings per share1 were Ps. 0.85. (Earnings per unit were Ps. 6.77 and per ADS were Ps. 67.66.).
- Achieved more than US$1.7 billion in digital revenues through Juntos+.
Ian Craig, Coca-Cola FEMSA’s CEO, commented:
“We are pleased to report solid third quarter results. Our strategic focus on growth has enabled us to build and sustain strong momentum, delivering a quarterly volume increase of 11.6% year on year. This performance includes growth across all of our operations, with double-digit growth in Mexico, Guatemala, Colombia, Uruguay, Costa Rica, and Nicaragua. Notably, on a currency neutral basis, our top-line increased 19.2%, and our operating income increased 24.1%, underscoring the resilience of our company.
As we deliver on our growing the core strategic priority, we continue increasing investments in both manufacturing and distribution capacity to debottleneck our infrastructure and unlock growth. We continue accelerating the rollout of our omnichannel B2B platform, Juntos+, which now serves 946 thousand monthly active buyers and have completed the rollout of our app version 4.0 in Brazil.
We have confidence that Coca-Cola FEMSA’s team execution of our strategy, is setting us on a path towards long-term sustainable growth and value creation.”
RECENT DEVELOPMENTS
- On September 14, 2023, Coca-Cola FEMSA commemorated the 30th anniversary of its initial public offering and trading of its shares on the Mexican Stock Exchange (“BMV”) and the New York Stock Exchange (“NYSE”). Since 1993, The Coca-Cola Company has maintained a significant interest in the capital stock of Coca-Cola FEMSA which in time has helped its growth from a Mexico-based bottler to extend its footprint to other countries and become the largest Coca-Cola bottler in the world in terms of sales volume.
- On November 3, 2023, Coca-Cola FEMSA will pay the second installment of the ordinary dividend approved for Ps. 0.3625 per share, for a total cash distribution of Ps. 6,092 million.
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ABOUT THE COMPANY
Stock listing information: Mexican Stock Exchange, Ticker: KOFUBL | NYSE (ADS), Ticker: KOF | Ratio of KOFUBL to KOF = 10:1
Coca-Cola FEMSA files reports, including annual reports and other information, with the U.S. Securities and Exchange Commission, or the “SEC,” and the Mexican Stock Exchange (Bolsa Mexicana de Valores, or the “BMV”) pursuant to the rules and regulations of the SEC (that apply to foreign private issuers) and of the BMV. Filings we make electronically with the SEC and the BMV are available to the public on the Internet at the SEC’s website at www.sec.gov, the BMV’s website at www.bmv.com.mx, and our website at www.coca-colafemsa.com.
Coca-Cola FEMSA, S.A.B. de C.V. is the largest Coca-Cola franchise bottler in the world by sales volume. The Company produces and distributes trademark beverages of The Coca-Cola Company, offering a wide portfolio of 131 brands to a population of more than 266 million. With over 80 thousand employees, the Company markets and sells approximately 3.5 billion unit cases through 2 million points of sale a year. Operating 49 manufacturing plants and 260 distribution centers, Coca-Cola FEMSA is committed to generating economic, social, and environmental value for all of its stakeholders across the value chain. The Company is a member of the Dow Jones Sustainability Emerging Markets Index, Dow Jones Sustainability MILA Pacific Alliance Index, FTSE4Good Emerging Index, and the Mexican Stock Exchange’s IPC and Social Responsibility and Sustainability Indices, among others. Its operations encompass franchise territories in Mexico, Brazil, Guatemala, Colombia, and Argentina, and, nationwide, in Costa Rica, Nicaragua, Panama, Uruguay, and Venezuela through its investment in KOF Venezuela. For further information, please visit www.coca-colafemsa.com.
