FEMSA Announces Second Quarter 2019 Results
25 Luglio 2019 - 11:00PM
Fomento Económico Mexicano, S.A.B. de C.V. (“FEMSA”) (NYSE: FMX;
BMV: FEMSAUBD) announced today its operational and financial
results for the second quarter of 2019.
FINANCIAL HIGHLIGHTS:
- 9.4% revenue growth (6.7% on an organic1 basis) at FEMSA
Consolidated
- 180 basis point gross margin expansion at FEMSA Comercio’s
Proximity Division
- 13.9% revenue growth (0.1% on an organic1 basis) at FEMSA
Comercio’s Health Division
- 7.8% revenue growth at FEMSA Comercio’s Fuel Division
- 7.6% revenue growth (5.1% on an organic1 basis) at Coca-Cola
FEMSA
Eduardo Padilla, FEMSA’s CEO, commented:
“FEMSA delivered solid results in the second
quarter, which was an interesting one from a calendar
standpoint. We had tailwinds from the Holy Week shift in
April, as well as a tough comparison base from last year’s World
Cup that began in June. However, a key positive theme across
most of our operations was one of strong revenue growth driven by
healthy pricing, that in turn allowed us to deliver margin
expansion at FEMSA Comercio’s Proximity and Fuel Divisions.
At the Health Division, our Mexican operations continued to perform
well but were overshadowed by soft results and unfavorable foreign
exchange dynamics in Chile, while Colombia continued to expand, and
we were happy to close the acquisition of GPF in Ecuador during the
quarter. For its part, Coca-Cola FEMSA also achieved strong
top-line dynamics in most of its markets, which flowed all the way
down the income statement.”
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FINANCIAL SUMMARY FOR THE SECOND QUARTER AND FIRST SIX
MONTHS 2019 |
Change vs. Comparable Results2 |
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Revenues |
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Gross Profit |
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Income from Operations |
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Same-Store Sales |
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2Q19 |
YTD19 |
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2Q19 |
YTD19 |
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2Q19 |
YTD19 |
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2Q19 |
YTD19 |
FEMSA CONSOLIDATED |
|
9.4 |
% |
7.7 |
% |
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9.7 |
% |
8.9 |
% |
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8.3 |
% |
4.9 |
% |
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FEMSA COMERCIO |
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Proximity Division |
11.3 |
% |
10.4 |
% |
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16.6 |
% |
17.1 |
% |
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15.4 |
% |
14.3 |
% |
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6.2 |
% |
4.8 |
% |
Health Division |
13.9 |
% |
8.4 |
% |
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10.9 |
% |
5.3 |
% |
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(3.0 |
%) |
(3.3 |
%) |
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(2.6 |
%) |
(0.7 |
%) |
Fuel Division |
7.8 |
% |
5.3 |
% |
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33.1 |
% |
28.9 |
% |
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32.6 |
% |
24.0 |
% |
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(0.0 |
%) |
(3.6 |
%) |
COCA-COLA FEMSA |
7.6 |
% |
6.5 |
% |
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6.0 |
% |
4.9 |
% |
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6.2 |
% |
2.8 |
% |
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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 |
1 Excludes the effects of significant mergers and acquisitions
in the last twelve months.
2 Comparable Results: Starting on the first
quarter of 2019, we adopted the International Financial Reporting
Standard 16 – “Leases” (“IFRS 16”) across all our business units.
The Comparable Results is a set of numbers which estimate the
retroactive effect that the adoption of IFRS 16 would have had on
FEMSA’s 2018 financial results. The performance comparisons
expressed in this document will be made relative to the Comparable
Results unless stated otherwise.
FORWARD-LOOKING STATEMENTSThis
report may contain certain forward-looking statements concerning
our future performance that should be considered as good faith
estimates made by us. These forward-looking statements reflect
management’s expectations and are based upon currently available
data. Actual results are subject to future events and
uncertainties, which could materially impact our actual
performance.
FEMSA 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 FEMSA
Comercio, comprising a Proximity Division operating OXXO, a
small-format store chain, a Health Division, which includes
drugstores and related activities, and a Fuel Division, which
operates the OXXO GAS chain of retail service stations. In the
beverage industry, it participates through Coca-Cola FEMSA, a
public bottler of Coca-Cola products; and in the beer industry, as
a shareholder of HEINEKEN, a brewer with operations in over 70
countries. Additionally, through its Strategic Businesses unit, it
provides logistics, point-of-sale refrigeration solutions and
plastics solutions to FEMSA's business units and third-party
clients. Through its business units, FEMSA has more than 295,000
employees in 13 countries. FEMSA is a member of the Dow Jones
Sustainability MILA Pacific Alliance, the FTSE4Good Emerging Index
and the Mexican Stock Exchange Sustainability Index, among other
indexes that evaluate is sustainability performance.
Media Contact
(52) 555-249-6843
comunicacion@femsa.com.mx
www.femsa.com
Investor Contact
(52) 818-328-6167
investor@femsa.com.mx
www.femsa.com/inversionista
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