Total revenues reached Mex$22,526m in the first quarter of 2009, an increase of 30.5% compared to the first quarter of 2008. The acquisition of Refrigerantes Minas Gerais contributed more than 25% of this growth.
Consolidated operating income grew 17.3% to Mex$3,305m for the first quarter of 2009, mainly driven by double-digit operating income growth recorded in the company’s Mercosur and Latincentro divisions.
Coca-Cola Femsa’s operating margin reached 14.7% for the first quarter of 2009.
Consolidated majority net income decreased 18.1% to Mex$1,327m in the first quarter of 2009, mainly reflecting the devaluation of the Mexican peso as applied to the company’s US dollar denominated net debt, resulting in earnings per share of Mex$0.72 in the first quarter of 2009.
“Our company achieved healthy top- and bottom-line results for the quarter, growing volumes, revenues and Ebitda by 7%, 30% and 20 % respectively,” said Carlos Salazar Lomelin, CEO of the company. “Among other factors, we benefited from the consolidation of our REMIL franchise territory in Brazil, the continued successful roll out of the Jugos del Valle line of juice-based beverages in Mexico, Colombia and Central America, and organic growth.
“We have the flexibility to adapt our business through initiatives that sustain our cash flow and meet our strategic objectives. Importantly, our company is in a very strong financial position as exemplified by the dividends of more than Mex$1.3bn that we paid our shareholders in the month of April.”
Coca-Cola Femsa has 30 bottling facilities in Latin America and serves over 1,500,000 retailers in the region. The Coca-Cola Company owns a 31.6% equity interest in Coca-Cola Femsa.
Source: Coca-Cola Femsa
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