FEMSA Announces Fourth Quarter and Full Year 2019 Results

MONTERREY, Mexico, Feb. 27, 2020 (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 fourth quarter and full year of 2019.

FINANCIAL HIGHLIGHTS:

• 5.7% revenue growth (3.9% on an organic¹ basis) at FEMSA Consolidated (FY, 7.9%; 5.7%)
• 40 basis points gross margin expansion at FEMSA Comercio’s Proximity Division (FY, 150 bps)
• 12.5% revenue growth (-4.8% on an organic¹ basis) at FEMSA Comercio’s Health Division (FY, 13.9%; 0.9%)
• 5.2% income from operations growth at FEMSA Comercio’s Fuel Division (FY, 19.4%)
• 3.1% revenue growth at Coca-Cola FEMSA (FY, 6.7%; 5.0%)
• Total Capital Expenditures to reach approximately US$1,500 million in 2020; with more than 60% to be invested in Mexico

FINANCIAL SUMMARY FOR THE FOURTH QUARTER AND FULL YEAR 2019
Change vs. Comparable 2018 Results2
		Revenues			Gross Profit			Income from Operations			Same-Store Sales
		4Q19	FY19		4Q19	FY19		4Q19	FY19		4Q19	FY19
FEMSA CONSOLIDATED		5.7%	7.9%		6.1%	9.2%		(0.5%)	6.7%
FEMSA COMERCIO
Proximity Division		10.6%	10.4%		11.5%	14.6%		10.1%	11.6%		5.5%	5.0%
Health Division		12.5%	13.9%		11.8%	11.2%		(7.8%)	(1.4%)		(12.2%)	(3.7%)
Fuel Division		(3.2%)	2.0%		(11.3%)	12.9%		5.2%	19.4%		(5.5%)	(4.2%)
COCA-COLA FEMSA		3.1%	6.7%		(0.4%)	4.2%		(13.5%)	2.8%

Eduardo Padilla, FEMSA’s CEO, commented: