Mexico City, July 19, 2024, 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 second quarter of 2024.
SECOND QUARTER HIGHLIGHTS
- Volume growth 7.5%
- Revenue growth 13.1%
- Operating income growth 13.8%
- Majority net income growth 13.8%
- Earnings per share1 were Ps. 0.30 (Earnings per unit were Ps. 2.67 and per ADS were Ps. 26.69)
- More than half of our customer base are now digital buyers. Completed rollout of Juntos+ v. 4.0 in Mexico and Brazil
FIRST SIX MONTHS HIGHLIGHTS
- Volume growth 7.5%
- Revenue growth 12.7%
- Operating income growth 13.0%
- Majority net income growth 19.9%
- Earnings per share1 were Ps. 0.63. (Earnings per unit were Ps. 5.04 and per ADS were Ps. 50.45.)
1 Quarterly 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
“As we close a positive first half of the year, I am encouraged by the progress we are making in implementing a long-term sustainable growth model. For the second quarter, we delivered solid volume growth in Mexico, Central America, and Brazil, achieving double-digit consolidated revenue and operating income growth. We also continued progressing towards becoming our customers’ preferred commercial platform, completing the rollout of Juntos+ version 4.0 in Mexico and Brazil, while beginning its implementation in Guatemala, Panama, and Colombia. This version features advanced analytics and a more user-friendly interface. Now more than half of our total customer base are digital buyers.
Last May, our resilience and ability to respond to challenges was put to the test by the severe flooding that impacted the south of Brazil. I want to take a moment to express our heartfelt support to all of the people affected by this flooding and to recognize the leadership and swift actions taken by our team to ensure the wellbeing of our Brazilian collaborators as well as their families and to provide effective community support while also mitigating operational disruptions.
Looking ahead, our priorities for the year remain clear: continue building on the growth momentum of our core business, take Juntos+ to the next level, continue developing our customer-centric culture, and implementing initiatives to foster a sustainable future.”
Ian Craig, Coca-Cola FEMSA’s Chief Executive Officer
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Investor Relations Contact Details
Jorge Collazo
Lorena Martin
Marene Aranzabal
Emilio Villacís