FEMSA Announces Third Quarter 2017 Results
26 Octubre 2017 - 4:05PM
Fomento Económico Mexicano, S.A.B. de C.V. (“FEMSA”) (NYSE:FMX)
(BMV:FEMSAUBD) announced today its operational and financial
results for the third quarter of 2017.
FINANCIAL HIGHLIGHTS:
- 14.3% revenue growth (5.4% on an organic1 basis) at FEMSA
Consolidated
- 11.9% revenue growth at FEMSA Comercio’s Retail Division
- 5.3% income from operations growth at FEMSA Comercio’s Health
Division
- 16.2% same-station sales growth at FEMSA Comercio’s Fuel
Division
- 16.6% revenue growth (-1.8% on an organic1 basis) at Coca-Cola
FEMSA
|
FINANCIAL SUMMARY FOR THE THIRD QUARTER AND
FIRST NINE MONTHS OF 2017 |
Change vs. same period of last year |
|
|
Revenues |
|
Gross Profit |
|
Income from
Operations |
|
Same-Store Sales |
|
|
3Q17 |
YTD17 |
|
3Q17 |
YTD17 |
|
3Q17 |
YTD17 |
|
3Q17 |
YTD17 |
FEMSA CONSOLIDATED |
|
14.3% |
20.9% |
|
13.3% |
18.9% |
|
0.9% |
8.0% |
|
|
|
FEMSA COMERCIO |
|
|
|
|
|
|
|
|
|
|
|
|
Retail
Division |
|
11.9% |
13.3% |
|
13.8% |
15.7% |
|
6.6% |
9.0% |
|
4.9% |
7.0% |
Health
Division |
|
1.8% |
12.0% |
|
5.2% |
13.6% |
|
5.3% |
2.4% |
|
0.2% |
8.6% |
Fuel Division |
|
27.5% |
37.2% |
|
19.2% |
20.6% |
|
3.3% |
-11.7% |
|
16.2% |
21.0% |
COCA-COLA FEMSA |
|
16.6% |
25.6% |
|
16.6% |
22.9% |
|
-2.8% |
7.0% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Carlos Salazar Lomelín, FEMSA’s CEO, commented:
“The third quarter was atypical, and one that unfortunately we will
remember for the number and severity of natural disasters that took
place during the month of September. In particular, the
earthquakes in Mexico caused tremendous human loss. Much less
importantly, but of relevance to our results, these disasters had a
moderate impact on our numbers.
However, our business units made progress across
markets. FEMSA Comercio’s Retail Division added new stores at
an accelerated pace, and same-store-sales continued to grow well in
spite of some quake-related temporary store closures, while we saw
stable results at our Health Division. And at the Fuel
Division, we saw sequential improvement in profitability as the
industry continues to evolve. Meanwhile, at Coca-Cola FEMSA
our Mexico operations had to contend with flooding and business
disruptions linked to the natural disasters, while we continued to
see challenging conditions in some of our South American markets
but early signs of stabilization in Brazil, and encouraging trends
in Argentina.
Finally, as you know we successfully monetized a
small portion of our Heineken shares, strengthening our balance
sheet and improving our financial flexibility in an efficient
manner. All told, it was an eventful third quarter that sets
us up for a solid close of the year and, more importantly, for
sustained growth in 2018 and beyond.”
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.
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 leading company that participates in
the beverage industry through Coca-Cola FEMSA, the largest
franchise bottler of Coca-Cola products in the world by volume; 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. In the retail industry it
participates through FEMSA Comercio, comprising a Retail Division
operating various small-format store chains including OXXO, a Fuel
Division, operating the OXXO GAS chain of retail service stations,
and a Health Division, which includes drugstores and related
operations. 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.
1 Excludes the effects of significant mergers and acquisitions
in the last twelve months. Includes the results of Coca-Cola
FEMSA Philippines Inc., as if consolidation had taken place in
2016.
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