Wednesday, 04/30/2014, 1:06:17 pm
Mexico City April 30, 2014, Coca-Cola FEMSA, S.A.B. de C.V. (BMV: KOFL, NYSE: KOF) (“Coca-Cola FEMSA” or the “Company”), the largest franchise bottler in the world, announces results for the first quarter of 2014.
Reported total revenues reached Ps. 38,708 million in the first quarter of 2014, an increase of 15.3% as compared to the first quarter of 2013. On a currency neutral basis and excluding the non-comparable effect of the integration of Grupo Yoli (“Yoli”) in our Mexican territories, Companhia Fluminense de Refrigerantes (“Fluminense”) and Spaipa S.A. Industria Brasileira de Bebidas (“Spaipa”) in our Brazilian operation, total revenues grew 20.2%.
Reported operating income reached Ps. 4,809 million in the first quarter of 2014, an increase of 18.0% as compared to the same period of the previous year, resulting in an operating margin expansion of 30 basis points to 12.4%.
Reported consolidated net controlling interest income reached Ps. 2,310 million in the first quarter of 2014.
"In the face of a continued challenging consumer environment, particularly in Mexico and Brazil, our operators delivered profitable results across our geographically balanced portfolio of franchises for the first quarter of 2014. In response to the new tax environment in Mexico, our operation continues to emphasize returnable, low-calorie, and single-serve sparkling beverages as compelling alternatives to connect more closely with our consumers’ needs. Moreover, to navigate this tough environment, we have restructured our operations, reducing costs and scaling back investments. These initiatives, coupled with our relentless focus on marketplace execution and the generation of operating efficiencies, set our company on the right path to continue working to meet the targets that we have set for the year. During the quarter, our shareholders approved a dividend of Ps. 2.90 per share, demonstrating our company’s financial flexibility and ability to return cash to shareholders, while deleveraging our balance sheet and reinforcing our geographic position in Mexico and Brazil. Over the past several years, we have made the appropriate investments to prepare our organization and develop the right set of capabilities to generate increased value for our shareholders now and into the future," said John Santa Maria Otazua, Chief Executive Officer of the Company.
CONFERENCE CALL INFORMATION
Our first quarter 2014 conference call will be held on April 30, 2014, at 12:00 P.M. Eastern Time (11:00 A.M. Mexico City Time). To participate in the conference call, please dial: Domestic U.S.: 888-572-7034 or International: 719-325-2432. Participant code: 3912775. If you wish to participate in the conference call using a specific toll free number for your country, please visit the Company`s website for additional information. We invite investors to listen to the live audiocast of the conference call on the Company’s website, www.coca-colafemsa.com. If you are unable to participate live, the conference call audio will be available at www.coca-colafemsa.com.
THE FULL REPORT IS AVAILABLE AS A PDF FILE AT THE END OF THIS EMAIL UNDER THE SECTION "ARCHIVOS ADJUNTOS"
Coca-Cola FEMSA, S.A.B. de C.V. produces and distributes Coca-Cola, Fanta, Sprite, Del Valle, and other trademark beverages of The Coca-Cola Company in Mexico (a substantial part of central Mexico, including Mexico City, as well as southeast and northeast Mexico), Guatemala (Guatemala City and surrounding areas), Nicaragua (nationwide), Costa Rica (nationwide), Panama (nationwide), Colombia (most of the country), Venezuela (nationwide), Brazil (greater São Paulo, Campiñas, Santos, the state of Mato Grosso do Sul, the state of Paraná, part of the state of Goias, part of the state of Rio de Janeiro and part of the state of Minas Gerais), Argentina (federal capital of Buenos Aires and surrounding areas) and Philippines (nationwide), along with bottled water, juices, teas, isotonics, beer, and other beverages in some of these territories. The Company has 64 bottling facilities and serves more than 346 million consumers through close to 2,900,000 retailers with more than 120,000 employees worldwide.