Mexico City, April 26, 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 first quarter of 2023.
FIRST QUARTER HIGHLIGHTS
- Volume growth 6.6%
- Revenue growth 12.0%
- Operating income growth 12.9%
- Majority net income growth 35.3%
- Earnings per share1 were Ps. 0.23 (Earnings per unit were Ps. 1.86 and per ADS were Ps. 18.65)
1Quarterly earnings / outstanding shares. Earnings per share (EPS) were calculated using 16,806.7 million shares outstanding. For the convenience of the reader, as a KOFUBL Unit is comprised of 8 shares (3 Series B shares and 5 Series L shares), earnings per unit are equal to EPS multiplied by 8. Each ADS represents 10 KOFUBL Units.
MESSAGE FROM THE CEO
“Our first quarter results reflected our positive momentum and strong execution. We achieved double-digit revenue, operating income, and net income growth in the face of unfavorable currency translation effects from most of our operating currencies. Notably, these results were supported by positive volume performance across most of our territories, including strong growth in Mexico, Brazil, Guatemala, and Uruguay. On the profitability front, we remain focused on implementing cost and expense efficiencies, as we invest across our operations to increase capacity and support our growth.
Looking ahead, we will continue to focus on the strategic priorities and promoting sustainability and social responsibility across our markets. We are confident that we can execute against these priorities and deliver long-term value for all of our stakeholders.”
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Investor Relations Contact Details
Jorge Collazo
Lorena Martin
Marene Aranzabal
José Enrique Solís