FEMSA Announces First Quarter 2021 Results

MONTERREY, Mexico, April 29, 2021 (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 first quarter of 2021.

ENHANCED DISCLOSURE

• In a permanent effort to improve our disclosure to better match the evolution of our business and communicate our performance, we are making a change to the way we present our financial results:
  
  
  • Given the growing relevance and potential of our logistics and distribution business, we will report its results as a new segment going forward. With this addition, we will disclose our core operations as follows: i) FEMSA Comercio’s retail divisions: Proximity, Health and Fuel; ii) Logistics and Distribution; and iii) Coca-Cola FEMSA.
    

FINANCIAL SUMMARY FOR THE FIRST QUARTER 2021
Information includes figures in millions of Ps. and variations as change vs. same period last year
	Revenues			Gross Profit			Income from Operations			Same-Store Sales
FEMSA CONSOLIDATED	124,474	1.8%		46,534	1.5%		9,525	0.1%
FEMSA COMERCIO
Proximity Division	43,418	(4.8%)		17,374	(4.7%)		2,411	(21.1%)		(6.5%)
Health Division	17,750	16.0%		5,069	17.9%		810	110.4%		15.5%
Fuel Division (1)	8,535	(21.4%)		1,080	(21.3%)		208	(53.0%)		(22.4%)
LOGISTICS & DISTRIBUTION	10,809	N/A		2,353	N/A		367	N/A
COCA-COLA FEMSA	44,690	(1.5%)		19,922	(3.8%)		5,899	3.0%
(1) variations vs. comparable results

Eduardo Padilla, FEMSA’s CEO, commented: