FEMSA Announces Third Quarter 2023 Results - Seite 2

José Antonio Fernandez Carbajal, FEMSA’s Chief Executive Officer, commented:

“The third quarter was very favorable for our business, with strong momentum across most of our operations. However, our positive results were tempered by the unfortunate passing of FEMSA’s former CEO, Daniel Rodriguez Cofré, in the month of August. We honor his legacy by continuing to execute on the strategy that he helped design and put in place.

Our quarterly results show a continuation, and in some cases an acceleration, of the positive trends that we have seen during the past several quarters, and again offer a glimpse of the significant organic growth potential we have before us. Notably, Proximity Americas increased revenues by more than 20 percent, driven by strong traffic trends at OXXO and reflecting an accelerated store expansion. In Europe, Valora continued to grow its top line, while Health revenues were again stable, reflecting a challenging comparison base in Chile as well as significant currency headwinds. For its part, Coca-Cola FEMSA delivered very strong results across its income statement, while Digital@FEMSA continued to add users at a rapid pace. Importantly, we are achieving solid growth today, while also investing significant capital in the future of our core business verticals, across markets but particularly in Mexico.

On the strategic front, during the third quarter we continued to make progress executing the FEMSA Forward gameplan, announcing the creation of a new distribution platform in the United States by bringing together Envoy Solutions and BradyIFS. The regulatory process has advanced according to schedule, and we expect this transaction to close soon.

As we approach the final stretch, we are well positioned to close the year on a high note, and already begin to look forward to an interesting and dynamic 2024.”  

To obtain the full text of this earnings release, please visit our Investor Relations website at  https://femsa.gcs-web.com/ under the Financial Reports section

CONFERENCE CALL INFORMATION
Our Third Quarter 2023 Conference Call will be held on: Friday, October 27, 2023, 11:00 AM Eastern Time (9:00 AM Mexico City Time). The conference call will be webcast live through streaming audio.
Telephone:	Toll Free US:  [phone]
	International: [phone]
Webcast:	https://edge.media-server.com/mmc/p/6zh9pt2t/
Conference ID:	FEMSA
If you are unable to participate live, the conference call audio will be available on https://femsa.gcs-web.com/financial-reports/quarterly-results