FEMSA Announces Second Quarter 2023 Results
July 27 2023 - 9:13AM
FEMSA Announces Second Quarter 2023 Results
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 2023.
- FEMSA:
Total Consolidated Revenues grew
18.3% against 2Q22.
- FEMSA
Retail1:
Proximity Americas total Revenues
increased 19.9% against 2Q22.
- DIGITAL:
Spin by OXXO had 5.7 million active
users2 while Spin Premia had 15.8
million active loyalty users2 and an
average tender3 of 24.0%.
- COCA-COLA FEMSA:
Total revenues grew 7.2% against 2Q22.
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Financial Summary for the Second Quarter and First Six
Months 2023Change vs. comparable period |
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|
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Total Revenues |
Gross Profit |
Income from Operations |
Same-Store Sales |
|
2Q23 |
|
YTD23 |
|
2Q23 |
|
YTD23 |
|
2Q23 |
|
YTD23 |
|
2Q23 |
|
YTD23 |
|
FEMSA Consolidated |
18.3% |
|
19.9% |
|
20.1% |
|
21.3% |
|
8.0% |
|
6.8% |
|
|
|
Proximity Americas |
19.9% |
|
20.8% |
|
19.3% |
|
19.5% |
|
18.0% |
|
18.7% |
|
15.3% |
|
16.7% |
|
Health |
0.6% |
|
0.1% |
|
6.5% |
|
5.7% |
|
(0.5%) |
|
(3.5%) |
|
(3.7%) |
|
(5.1%) |
|
Fuel |
9.3% |
|
14.4% |
|
6.9% |
|
13.7% |
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(0.9%) |
|
15.0% |
|
3.2% |
|
9.3% |
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Coca-Cola FEMSA |
7.2% |
|
9.2% |
|
7.9% |
|
9.9% |
|
11.9% |
|
12.1% |
|
|
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Envoy Solutions |
23.1% |
|
23.4% |
|
31.1% |
|
27.1% |
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(7.1%) |
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(8.6%) |
|
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José Antonio Fernandez Carbajal, FEMSA’s Chief
Executive Officer, commented:
“It is a great privilege to lead this amazing
company again. It is also a challenge that I embrace, particularly
as we find ourselves in the process of implementing our
transformational FEMSA Forward strategy, and as we pursue our
ambitious long-range growth plans for all our core business units,
setting the course for sustained, long-term value creation.
The second quarter results announced today
represent an example of the organic growth potential we have before
us. Among the highlights, Proximity Americas increased revenues by
20 percent, again driven by strong same-store sales trends at OXXO
and reflecting an accelerated store expansion. In Europe, Valora
reported solid top line growth, while Health revenues were stable,
reflecting a challenging comparison base in Chile as well as
currency headwinds. For its part, Coca-Cola FEMSA again delivered a
strong performance, while Envoy Solutions showed sustained revenue
growth driven by recent acquisitions. On the Digital side, we
continued to add users at a rapid pace, with active users growing
more than one hundred percent year-over-year.
I want to extend my gratitude to our hardworking
team who continue to find a way to post strong results, putting us
on the right path to meet or exceed our long-term aspirations.”
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 2023 Conference Call will be held on: Thursday,
July 27, 2023, 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: |
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/chfb9z24 |
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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 |
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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 though 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. FEMSA also
participates in the logistics and distribution industry through its
Strategic Business Unit, which additionally provides point-of-sale
refrigeration and plastic solutions to its business units and
third-party clients. Across its business units, FEMSA has more than
350,000 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.
___________________________________
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 Mexico MXN sales
with OXXO Premia or Spin Premia redemption or accrual divided by
Total OXXO Mexico MXN Sales, during the period.
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