Friday, 02/25/2005, 12:00:00 am
Monterrey, Mexico, February 25, 2005 - Fomento Económico Mexicano, S.A. de C.V. ("FEMSA") today announced its operational and financial results for the fourth quarter and year ended December 31, 2004.
Fourth Quarter Highlights:
- Coca-Cola FEMSA increased its soft-drink sales volume across most territories and expanded its consolidated EBITDA margin to 23.1% of revenues.
- Domestic beer volumes increased 3.1% and export beer volumes increased 7.0%, as we transition to our new US importer.
- Oxxo continued its pace of double-digit growth, increasing revenues by 26.1% driven by 279 new stores and a 9.6% increase in same-store sales.
- Consolidated net debt was reduced by Ps. 1,302 million or 3.2% compared with 3Q04.
2004 Full Year Highlights:
- Solid performance in all businesses drove a 17.2% increase in consolidated total revenues and an 8.7% increase in operating income.
- Corporate streamlining moved ahead. Glass bottle and aluminum can operations are now part of FEMSA Cerveza.
- Successful integration of newly acquired soft-drink territories. Coca-Cola FEMSA remains one of the most profitable Coca-Cola bottlers in the world.
- Profitable share gains in domestic and US beer markets. Our domestic beer volume growth outpaced the industry while operating margin expanded 50 basis points; export beer volumes increased 13.0%.
- Oxxo continues to be the fastest growing convenience store chain in Mexico, opening 668 new stores, and ending the year with 3,466 Oxxos.