FEMSA Announces Third Quarter 2017 Results
(Thomson Reuters ONE) -
MONTERREY, Mexico, Oct. 26, 2017 (GLOBE NEWSWIRE) -- Fomento Económico Mexicano,
S.A.B. de C.V. ("FEMSA") (NYSE:FMX) (BMV:FEMSAUBD) announced today its
operational and financial results for the third quarter of 2017.
FINANCIAL HIGHLIGHTS:
* 14.3% revenue growth (5.4% on an organic(1) basis) at FEMSA Consolidated
* 11.9% revenue growth at FEMSA Comercio's Retail Division
* 5.3% income from operations growth at FEMSA Comercio's Health Division
* 16.2% same-station sales growth at FEMSA Comercio's Fuel Division
* 16.6% revenue growth (-1.8% on an organic(1) basis) at Coca-Cola FEMSA
FINANCIAL SUMMARY FOR THE THIRD QUARTER AND FIRST NINE MONTHS OF 2017
Change vs. same period of last year
Gross Income Same-Store
Revenues Profit from Sales
Operations
3Q17 YTD17 3Q17 YTD17 3Q17 YTD17 3Q17 YTD17
FEMSA CONSOLIDATED 14.3% 20.9% 13.3% 18.9% 0.9% 8.0%
FEMSA COMERCIO
Retail Division 11.9% 13.3% 13.8% 15.7% 6.6% 9.0% 4.9% 7.0%
Health Division 1.8% 12.0% 5.2% 13.6% 5.3% 2.4% 0.2% 8.6%
Fuel Division 27.5% 37.2% 19.2% 20.6% 3.3% -11.7% 16.2% 21.0%
COCA-COLA FEMSA 16.6% 25.6% 16.6% 22.9% -2.8% 7.0%
Carlos Salazar Lomelín, FEMSA's CEO, commented: "The third quarter was atypical,
and one that unfortunately we will remember for the number and severity of
natural disasters that took place during the month of September. In particular,
the earthquakes in Mexico caused tremendous human loss. Much less importantly,
but of relevance to our results, these disasters had a moderate impact on our
numbers.
However, our business units made progress across markets. FEMSA Comercio's
Retail Division added new stores at an accelerated pace, and same-store-sales
continued to grow well in spite of some quake-related temporary store closures,
while we saw stable results at our Health Division. And at the Fuel Division,
we saw sequential improvement in profitability as the industry continues to
evolve. Meanwhile, at Coca-Cola FEMSA our Mexico operations had to contend with
flooding and business disruptions linked to the natural disasters, while we
continued to see challenging conditions in some of our South American markets
but early signs of stabilization in Brazil, and encouraging trends in Argentina.
Finally, as you know we successfully monetized a small portion of our Heineken
shares, strengthening our balance sheet and improving our financial flexibility
in an efficient manner. All told, it was an eventful third quarter that sets us
up for a solid close of the year and, more importantly, for sustained growth in
2018 and beyond."
To obtain the full text of this earnings release, please visit our Investor
Relations website at www.femsa.com/investor under the Financial Reports section.
FORWARD-LOOKING STATEMENTS
This report may contain certain forward-looking statements concerning our future
performance that should be considered as good faith estimates made by us. These
forward-looking statements reflect management's expectations and are based upon
currently available data. Actual results are subject to future events and
uncertainties, which could materially impact our actual performance.
FEMSA is a leading company that participates in the beverage industry through
Coca-Cola FEMSA, the largest franchise bottler of Coca-Cola products in the
world by volume; and in the beer industry, through its ownership of the second
largest equity stake in Heineken, one of the world's leading brewers with
operations in over 70 countries. In the retail industry it participates through
FEMSA Comercio, comprising a Retail Division operating various small-format
store chains including OXXO, a Fuel Division, operating the OXXO GAS chain of
retail service stations, and a Health Division, which includes drugstores and
related operations. Additionally, through its Strategic Businesses unit, it
provides logistics, point-of-sale refrigeration solutions and plastics solutions
to FEMSA's business units and third-party clients.
(1) Excludes the effects of significant mergers and acquisitions in the last
twelve months. Includes the results of Coca-Cola FEMSA Philippines Inc., as if
consolidation had taken place in 2016.
Media Contact
(52) 555-249-6843
comunicacion(at)femsa.com.mx
www.femsa.com
Investor Contact
(52) 818-328-6167
investor(at)femsa.com.mx
www.femsa.com/inversionista
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: FEMSA Servicios SA de CV via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 26.10.2017 - 23:05 Uhr
Sprache: Deutsch
News-ID 565535
Anzahl Zeichen: 5641
contact information:
Town:
Monterrey, Nuevo Leon
Kategorie:
Business News
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