- FEMSA: Total Consolidated Revenues grew 4.6% against 4Q22.
- FEMSA Retail1: Proximity
Americas total Revenues increased 14.2% against 4Q22. - DIGITAL: Spin by OXXO had 6.9 million active users2 while Spin Premia had 19.3 million active loyalty users2 and an average tender3 of 31.0%.
- COCA-COLA FEMSA: Total volume and revenues grew 6.1% and 8.1%, respectively, against 4Q22.
Financial Summary for the Fourth Quarter and Full Year 2023
Change vs. comparable period
Total Revenues | Gross Profit | Income from Operations | Same-Store Sales | |||||
4Q23 | YTD23 | 4Q23 | YTD23 | 4Q23 | YTD23 | 4Q23 | YTD23 | |
FEMSA Consolidated | 4.6% | 17.7% | 8.5% | 15.7% | (1.4%) | (6.4%) | ||
Proximity | 14.2% | 19.0% | 17.2% | 20.0% | 1.0% | 11.7% | 8.5% | 14.2% |
Health | 2.6% | 0.7% | (1.2%) | 2.3% | (43.5%) | (15.5%) | 5.1% | 6.1% |
Fuel | 9.0% | 12.9% | 10.8% | 12.0% | 13.5% | 11.0% | 4.8% | 7.8% |
Coca-Cola FEMSA | 8.1% | 8.1% | 12.8% | 10.5% | 7.4% | 10.8% |
“Our results for the fourth quarter were strong, but less uniform across business units than what we saw earlier in the year. Revenues were robust, even as we cycled tough comparison bases at certain business units. However, on the expense side we felt more directly the cumulative effect from increased labor costs in
“Proximity Americas increased revenues by more than 14%, driven by high-single-digit comparable sales at OXXO and reflecting an accelerated store expansion, while we continued to see healthy growth trends in
“On the strategic front, we recently provided incremental information regarding our capital allocation framework, and we stand ready to begin executing the plan in order to reach our stated leverage objective within two to three years.
“In short, we wrapped up a unique year that was transformational on the strategic front, with remarkable results resulting from our FEMSA Forward strategy. Today, we are a leaner, more focused company, ideally positioned to pursue and capture the most compelling opportunity set we have ever had before us. Once again, I thank the entire FEMSA team for their excellent work, as we get ready to write another exciting chapter.”
To obtain the full text of this earnings release, please visit our Investor Relations website at https://femsa.gcs-web.com/ under the Financial Reports section |
CONFERENCE CALL INFORMATION | |
Our Fourth Quarter and Full Year 2023 Conference Call will be held on: | |
Telephone: | Toll Free US: (866) 580 3963 |
International: +1 (786) 697 3501 | |
Webcast: | https://edge.media-server.com/mmc/p/j59xingg/ |
Conference ID: | FEMSA |
If you are unable to participate live, the conference call audio will be available on https://femsa.gcs-web.com/financial-reports/quarterly-results |
ABOUT FEMSA
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. Across its business units, FEMSA has more than 350,000 employees in 18 countries. FEMSA is a member of the
______________________________________________________
1 FEMSA Retail: Proximity Americas &
2 Active User for Spin by OXXO: Any user with a balance or that has transacted within the last 56 days.
Active User for Spin Premia: User that has transacted at least once with OXXO Premia within the last 90 days.
3 Tender: OXXO Mexico MXN sales with OXXO Premia or Spin Premia redemption or accrual divided by Total OXXO Mexico MXN Sales, during the period.
Investor Contact (52) 818-328-6000 investor@femsa.com.mx femsa.gcs-web.com Media Contact (52) 555-249-6843 comunicacion@femsa.com.mx femsa.com
Source: Fomento Economico Mexicano
2024 GlobeNewswire, Inc., source