Mexico: Fomento Economico Mexicano, S.A. de C.V. reported total revenues of MXN32.152 billion for the 3Q 2006
Fomento Economico Mexicano, S.A. de C.V. announced on October 27 its operational and financial results as of the third quarter of 2006 and for the nine months ended September 30, 2006.
Consolidated total revenues increased 13.9%, reaching MXN32.152 billion. However, continued high commodity prices put pressure on the gross margin.
Net majority income increased 11.3%, reaching MXN1.929 billion.
New cooperative framework with The Coca-Cola Company focused on the sustainable growth of carbonated and non-carbonated beverages, horizontal growth of Coca-Cola FEMSA and long-term perspective in relationship economics.
Significantly increasing our stake in Coca-Cola FEMSA by acquiring 8% of its equity from The Coca-Cola Company; transaction amounts to US$427.4 million and will take place on November 03, 2006.
FEMSA Cerveza revenues (excluding Kaiser) increased 8.1%. Domestic sales volume grew 4.2% and export sales volume increased 16.7%.
Coca-Cola FEMSA total revenues increased 8.6%, driven by all regions. Pricing pressure in the Valley of Mexico eased sequentially.
Oxxo increased its revenues by 18.5%, driven by 116 net new stores and 6.0% growth in same-store sales. There are now 4,482 Oxxo stores throughout Mexico.
"Results across our business units again showed robust growth trends, and we keep developing new ways to satisfy the demand of our growing consumer base. We continue to execute our long-term business strategy and are encouraged by the results.
"Our new cooperation framework with The Coca-Cola Company demonstrates the constructive relationship we continue to build with them and underscores our willingness to jointly look for value-creating alternatives from a potentially larger revenue pool. We will keep pursuing opportunities that seek to fulfill the growth potential that Coca-Cola FEMSA can achieve by transferring its strong and distinctive operating model and capabilities to other territories," stated Jose Antonio Fernandez, Chairman of FEMSA and Coca-Cola FEMSA.
FEMSA is the leading beverage company in Latin America. It controls an integrated beverage platform that comprises Coca-Cola FEMSA, the largest Coca-Cola bottler in the region; FEMSA Cerveza, one of the leading brewers in Mexico and important beer exporter to the United States; and Oxxo, the largest and fastest growing convenience store chain in Mexico with over 4,000 stores.
(US$1=MXN10.9952 at end September).
后退
E-malt.com, the global information source for the brewing and malting industry professionals. The bi-weekly E-malt.com Newsletters feature latest industry news, statistics in graphs and tables, world barley and malt prices, and other relevant information. Click here to get full access to E-malt.com. If you are a Castle Malting client, you can get free access to E-malt.com website and publications. Contact us for more information at marketing@castlemalting.com .
