FEMSA Accelerates Double-Digit Operating Income Growth in 3Q12
MONTERREY, MEXICO -- (Marketwire) -- 10/25/12 -- Fomento Economico
Mexicano, S.A.B. de C.V. ("FEMSA") (NYSE: FMX) (BMV: FEMSAUBD) (BMV:
FEMSAUB) announced today its operational and financial results for
the third quarter of 2012 under International Financial Reporting
Third Quarter 2012 Highlights:
-- FEMSA consolidated total revenues and income from operations grew
18.1% and 24.4%, respectively, compared to the third quarter of 2011,
reflecting growth at Coca-Cola FEMSA and FEMSA Comercio. On an organic
basis total revenues and income from operations grew 11.7% and 18.1%,
-- Coca-Cola FEMSA total revenues and income from operations increased
20.3% and 26.6%, respectively, compared to the third quarter of 2011.
On an organic basis total revenues and income from operations grew
9.6% and 18.0%, respectively.
-- FEMSA Comercio achieved total revenues growth of 16.0% and income from
operations growth of 24.3%, compared to the third quarter of 2011,
driven by new store openings and 7.6% growth in same-store sales.
Jose Antonio Fernandez Carbajal, Chairman and CEO of FEMSA, commented:
"During the third quarter, we saw the performance trends for our two
core operations converging in the best possible way. While Coca-Cola
FEMSA experienced some margin pressure earlier in the year, in Q3
they were able to capitalize on stable volumes, solid pricing, and
improving raw materials and foreign exchange dynamics that led them
to achieve double-digit operating income growth. For its part, FEMSA
Comercio maintained its brisk pace and grew operating income more
than 24% on the back of consistent, balanced same-store sales growth
and an ever-improving level of execution.
In terms of more strategic developments, we have made good progress
in our analysis of the opportunity we face in the Philippines, and
the process continues to move in the right direction.
And so, we are once more in the final stretch of a year that has
brought us a combination of opportunities and challenges, and we are
excited to approach the final couple of months of 2012 with strong
momentum across our business units and across our markets."
To obtain the full text of this earnings release, please visit our
Investor Relations website at www.femsa.com/investor under the
Financial Reports section
This 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 leading company that participates in the beverage industry
through Coca-Cola FEMSA, the largest bottler of Coca-Cola products in
the world; in the retail industry through FEMSA Comercio, operating
OXXO, the largest and fastest-growing chain of stores in Latin
America, and in the beer industry, through its ownership of the
second largest equity stake in Heineken, one of the world's leading
brewers with operations in over 70 countries.
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