FEMSA Announces Second Quarter 2024 Results
2024年7月24日 - 10:42PM
Fomento Económico Mexicano, S.A.B. de C.V. (“FEMSA”) (NYSE: FMX;
BMV: FEMSAUBD, FEMSAUB) announced today its operational and
financial results for the second quarter of 2024.
- FEMSA:
Total Consolidated Revenues grew
12.2% compared to 2Q23.
- FEMSA
Retail1:
Proximity Americas total Revenues
increased 8.9% versus 2Q23.
- DIGITAL:
Spin by OXXO had 7.9 million active
users2 representing a 37.0%
growth compared to 2Q23 while Spin Premia had 22.8
million active loyalty users2
representing a 44.3% growth compared to 2Q23 and
an average tender3 of 36.1%.
- COCA-COLA FEMSA:
Total volume and revenues grew 7.5% and 13.1%,
respectively against 2Q23.
Financial Summary for the Second Quarter
2024Change vs. comparable period |
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Total Revenues |
Gross Profit |
Income from Operations |
Same-Store Sales |
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2Q24 |
YTD24 |
2Q24 |
YTD24 |
2Q24 |
YTD24 |
2Q24 |
YTD24 |
FEMSA Consolidated |
12.2% |
11.6% |
19.1% |
14.9% |
15.8% |
14.9% |
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Proximity
Americas |
8.9% |
11.8% |
17.2% |
18.4% |
7.6% |
9.1% |
4.1% |
6.6% |
Proximity
Europe |
5.8% |
7.0% |
8.8% |
9.9% |
41.0% |
82.3% |
N.A. |
N.A. |
Health |
(0.4%) |
(1.3%) |
(0.2%) |
(4.4%) |
(14.8%) |
(28.0%) |
(1.1%) |
(0.3%) |
Fuel |
16.2% |
14.7% |
12.5% |
7.8% |
24.1% |
13.1% |
15.9% |
14.6% |
Coca-Cola FEMSA |
13.1% |
12.7% |
17.2% |
15.0% |
13.8% |
13.0% |
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José Antonio Fernandez Carbajal, FEMSA’s Chief
Executive Officer, commented:
During the second
quarter, we continued to see good momentum and strong performance
from our core business units. Once again, most of our operations,
including the two that contribute most to our results, delivered
solid numbers. Proximity Americas saw a deceleration in the pace of
same-store sales growth in Mexico against a tough comparison base,
due in part to a shift in the timing of Holy Week celebrations,
volatile weather, and the restriction of alcohol sales ahead of the
national election, but offset by stellar gross margin and solid
store expansion. Despite a challenging expense environment,
Proximity Americas generated solid growth in operating income. For
its part, Coca-Cola FEMSA delivered a remarkable set of numbers
showing double-digit increases across its own income statement,
driven once again by strong volume and revenue growth in its major
markets.
We continued to see
good results at Valora and OXXO Gas, with both businesses
delivering double-digit growth in operating income. However, at our
Health division we again faced competitive headwinds in Mexico
offset by a stable performance in Chile and continued solid results
in Colombia retail, and we are laser-focused with our plans to
change the trajectory in Mexico to bring it in line with the
positive dynamics we see elsewhere at FEMSA. Finally, at Digital,
we continued to add users and advance towards our ecosystem
objectives.
During the quarter,
we also made strides on the execution of our capital allocation
framework, actively utilizing both the dividend and share buyback
levers to return capital to shareholders. And in early July, we
received the remaining payments for the divestiture of our stake in
Jetro Restaurant Depot, and we signed agreements to divest our
refrigeration and foodservice equipment operations, as we continue
to act on our stated objectives.
I want to thank our
entire team for yet another quarter of excellent effort and
results. We are maintaining the push into the second half of the
year, confident that we can further maintain our positive
momentum.
To obtain the full text of this earnings release, please visit our
Investor Relations website athttps://femsa.gcs-web.com/ under the
Financial Reports section |
CONFERENCE CALL INFORMATION |
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Our Second Quarter 2024 Conference Call will be held on: Wednesday,
July 24, 2024, 11:00 AM Eastern Time (9:00 AM Mexico City Time).
The conference call will be webcast live through streaming
audio. |
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Telephone:
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Toll Free US: (866)
580 3963 |
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International: +1
(786) 697 3501 |
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Webcast: |
https://edge.media-server.com/mmc/p/u8qgeyf5/ |
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Conference ID: |
FEMSA |
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If you are unable to participate live, the conference call audio
will be available on
https://femsa.gcs-web.com/financial-reports/quarterly-results |
ABOUT FEMSAFEMSA is a company
that creates economic and social value through companies and
institutions and strives to be the best employer and neighbor to
the communities in which it operates. It participates in the retail
industry through a Proximity Americas Division operating OXXO, a
small-format store chain, and other related retail formats, and
Proximity Europe which includes Valora, our European retail unit
which operates convenience and foodvenience formats. In the retail
industry it also participates through a Health Division, which
includes drugstores and related activities and Digital@FEMSA, which
includes Spin by OXXO and Spin Premia, among other digital
financial services initiatives. In the beverage industry, it
participates through Coca-Cola FEMSA, the largest franchise bottler
of Coca-Cola products in the world by volume. Across its business
units, FEMSA has more than 392,000 employees in 18 countries. FEMSA
is a member of the Dow Jones Sustainability MILA Pacific Alliance,
the FTSE4Good Emerging Index and the Mexican Stock Exchange
Sustainability Index: S&P/BMV Total México ESG, among other
indexes that evaluate its sustainability performance.
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1 FEMSA Retail: Proximity Americas & Europe, Fuel and FEMSA
Health.2 Active User for Spin by OXXO: Any user with a balance or
that has transacted within the last 56 days. Active
User for Spin Premia: User that has transacted at least once with
OXXO Premia within the last 90 days.3 Tender: OXXO MXN sales with
Spin Premia redemption or accrual / Total OXXO MXN Sales, during
the period.
Investor Contact
(52) 818-328-6000
investor@femsa.com.mx
femsa.gcs-web.com
Media Contact
(52) 555-249-6843
comunicacion@femsa.com.mx
femsa.com