MEXICO CITY, MEXICO--(Marketwired - Apr 26, 2017) - 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 by sales volume, announces results for the first quarter of
2017.
Operational and Financial Highlights
- Revenues grew 38.4%, while comparable revenues grew 2.7% for the first quarter of 2017.
- Operating income grew 24.1%, while comparable operating income grew 7.2% for the first quarter of 2017.
- Operating cash flow increased 35.9%, while comparable operating cash flow grew 4.6% for the first quarter of 2017.
- Earnings per share increased 145.5% to Ps. 2.84 in the first quarter of 2017.
Results Summary
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First Quarter |
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as Reported |
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Comparable (1) |
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2017 |
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D% |
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D% |
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Total revenues |
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51,357 |
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38.4% |
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2.7% |
Gross profit |
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22,297 |
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31.8% |
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4.4% |
Operating income |
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6,090 |
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24.1% |
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7.2% |
Operating cash flow (2) |
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9,554 |
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35.9% |
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4.6% |
Net income attributable to equity holders of the company |
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5,887 |
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145.5% |
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Earnings per share (3) |
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2.84 |
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Expressed in millions of Mexican pesos. |
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(1) Comparable means, with respect to a year-over-year comparison, the change in a
given measure excluding the effects of (i) mergers, acquisitions and divestitures, (ii) translation effects resulting from
exchange rate movements (iii) the results of hyperinflationary economies in both periods, and (iv) includes the results of
Coca-Cola FEMSA Philippines Inc., as if the consolidation had taken place at the beginning of first quarter 2016. From our
operations, only Venezuela qualifies as a hyperinflationary economy. |
(2) Operating cash flow = operating income + depreciation + amortization & other
operative non-cash charges. |
(3) Quarterly earnings / outstanding shares as of the end of period. Outstanding
shares as of 1Q'17 were 2,072.9 million. |
Message from the Chief Executive Officer
"For the first quarter of 2017, we further accelerated towards excellence by delivering positive results. Our revenues and
operating income increased 38.4% and 24.1%, respectively, as we focused on executing the right strategies across our
geographically diversified footprint. These results were highlighted by the continuous growth of our Mexican operation, driven by
our pricing flexibility and our strengthening portfolio--underscored by the successful launch of Coca-Cola Sin Azúcar.
Additionally, we rolled out affordability initiatives across our operations, which enabled us to gain or maintain market share
across our key markets, highlighting our Company's ability to adapt to challenging consumer and macroeconomic environments to
deliver solid results.
Moreover, we are encouraged by stabilization and signs of recovery in Brazil. As we smoothly integrated and began capturing
planned synergies from Vonpar, we further consolidated the first full quarter of this newly acquired Brazilian territory.
Importantly, we started consolidating the financial results of our Philippines operation beginning in February 2017. This
operation's encouraging performance is now positively contributing to our Company's consolidated results.
We look forward to continuing to create value for our shareholders thanks to our talented team of professionals, our operating
and financial discipline, and our ability to expand and consolidate our position as a truly diversified multi-category global
beverage leader," said John Santa Maria Otazua, Chief Executive Officer of the Company.
Conference Call Information
Our first quarter 2017 conference call will be held on April 26, 2017, at 12:30 P.M. Eastern Time (11:30 A.M. Mexico City
Time). To participate in the conference call, please dial: Domestic U.S.: 888-204-4394 or International: 913-981-5533.
Participant code: 8897993. We invite investors to listen to the live audio cast 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.
About the Company
Stock listing information: Mexican Stock Exchange, Ticker: KOFL | NYSE (ADR), Ticker: KOF | Ratio of KOF L to KOF = 10:1
Coca-Cola FEMSA, S.A.B. de C.V. is the largest franchise bottler in the world by sales volume. The company produces and
distributes trademark beverages of The Coca-Cola Company, offering a wide portfolio of 154 brands to more than 375
million consumers daily. With over 100 thousand employees, the company markets and sells approximately 4 billion unit cases
through 2.8 million points of sale a year. Operating 66 manufacturing plants and 328 distribution centers, Coca-Cola FEMSA is
committed to generating economic, social, and environmental value for all of its stakeholders across the value chain. The company
is a member of the Dow Jones Sustainability Emerging Markets Index, FTSE4Good Emerging Index, and the Mexican Stock Exchange's
IPC and Social Responsibility and Sustainability Indices, among other indexes. Its operations encompass franchise territories in
Mexico, Brazil, Colombia, Argentina, and Guatemala and, nationwide, in the Philippines, Venezuela, Nicaragua, Costa Rica, and
Panama. For more information, please visit www.coca-colafemsa.com.