FEMSA(FMX)
Search documents
FEMSA(FMX) - 2022 Q1 - Earnings Call Transcript
2022-05-02 18:12
Financial Data and Key Metrics Changes - Total revenues increased by 18.6% in Q1 2022 compared to Q1 2021, while income from operations rose by 24.9% [10] - On an organic basis, total revenues grew by 15.2% and income from operations increased by 22.2% [10] - Net income decreased by 6.6% to 5.8 billion pesos, impacted by a noncash foreign exchange loss [10] Business Line Data and Key Metrics Changes - OXXO opened 69 net new stores in Q1 2022, reaching 794 net openings over the last 12 months, with same-store sales up 12.7% [11] - Health operations expanded drugstore count by 66, with revenues increasing by 5.1% and same-store sales up 3.5% [13] - Logistics and distribution revenues increased by 48.3%, with organic growth of 12.2% [14] - Coca-Cola FEMSA volumes grew by 10.1%, with revenues up 14.6% despite supply chain disruptions [15] Market Data and Key Metrics Changes - OXXO's gross margin increased by 110 basis points to 41.1%, driven by improved commercial income [12] - Coca-Cola FEMSA's gross profit grew by 13.5%, reflecting solid raw material hedging strategies [15] Company Strategy and Development Direction - The company is focused on consolidating its logistics and distribution platform through acquisitions, such as Sigma Supply, to strengthen its presence in the U.S. market [7][20] - There is a commitment to expanding digital platforms, with significant growth in registered users for Spin by OXXO and OXXO Premia [8] - The company aims to increase store openings in international markets, particularly in Brazil, with expectations of reaching parity with Mexico in store numbers over the next five to ten years [54][56] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about sustained growth and recovery in consumer activity as the world reopens [4] - The company remains vigilant regarding macroeconomic challenges such as inflation and supply chain disruptions but is confident in its operational fitness [15] - The board is conducting a strategic review to address the share price discount to NAV and explore options for value creation [60][61] Other Important Information - The logistics and distribution segment is seen as a potential new core for the company, with significant growth opportunities through consolidation and cross-selling [49] - The company is adapting its value proposition in international markets to meet local consumer needs [57] Q&A Session Summary Question: Future growth of logistics segment and capital allocation strategy - Management highlighted the potential for mid-single-digit organic growth and mid-double-digit growth with inorganic opportunities in the logistics segment [19] Question: Impact of Spin and Premia on data capture and customer engagement - Management noted that Spin is capturing marginal consumers and increasing transaction frequency, while Premia is enhancing customer loyalty and engagement [22][24] Question: Traffic comparison to 2019 levels and inflation impact - Traffic remains below 2019 levels, but same-store sales are up due to increased average ticket sizes; management is strategically managing costs amid inflation [29][30] Question: Changes in consumer behavior regarding cash transactions - Management indicated that while cash transactions remain prevalent, there is a growing acceptance of digital transactions, particularly among small business owners [33][35] Question: Gross margin dynamics and pricing architecture - Management attributed gross margin improvements to increased commercial activity and effective cost management, with ongoing testing of pricing strategies for digital services [38][39] Question: Long-term vision for logistics and distribution - Management expressed confidence in the logistics division's growth potential and the ability to create a powerful national platform through acquisitions and synergies [48][49]
FEMSA(FMX) - 2021 Q4 - Annual Report
2022-04-14 18:19
Table of Contents As filed with the Securities and Exchange Commission on April 14, 2022 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 20-F ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Juan F. Fonseca; Tel (52-818) 328-6167; investor@femsa.com.mx General Anaya No. 601 Pte., Colonia Bella Vista, Monterrey, NL 64410 Mexico (Name, telephone, email and/or facsimile number and address of company contact person) Securities registered or to be ...
FEMSA(FMX) - 2021 Q4 - Annual Report
2022-04-13 16:00
Mexican Economic Development, Inc. SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934 For the month of April 2022 FOMENTO ECONÓMICO MEXICANO, S.A.B. DE C.V. (Exact name of Registrant as specified in its charter) Indicate by check mark whether by furnishing the information contained in this Form, the registrant is also thereby furnishing the information to the Commission pursuant to Rule ...
FEMSA(FMX) - 2021 Q4 - Earnings Call Transcript
2022-02-28 21:56
Fomento Economico Mexicano, S.A.B. de C.V.’s (NYSE:FMX) Q4 2021 Earnings Conference Call February 28, 2022 9:30 AM ET Company Participants Eduardo Padilla – Chief Executive Officer Daniel Rodríguez Cofré – Current Chief Executive Officer-FEMSA Comercio Paco Camacho – Chief Corporate Officer Eugenio Garza – Finance and Corporate Development Director Juan Fonseca – Director-Investor Relations Daniel Vargas – Digital Distributors Coordinator Conference Call Participants Bob Ford – Bank of America Alan Alanis – ...
FEMSA(FMX) - 2021 Q4 - Earnings Call Presentation
2022-02-28 17:24
(1) variations vs. comparable results FEMSA Announces Fourth Quarter and Full Year 2021 Results Monterrey, Mexico, February 28, 2022 — 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 2021. HIGHLIGHTS • Our results during 2020 were significantly impacted by the COVID-19 pandemic and the related changes in consumer mobility and behavior across markets. As we look at our 4Q21 results, t ...
FEMSA(FMX) - 2021 Q3 - Earnings Call Transcript
2021-10-29 20:35
Financial Data and Key Metrics Changes - Total revenues during Q3 2021 increased by 12.6% compared to Q3 2020, and income from operations increased by 14% [11] - Net income reached MXN 16 billion, reflecting higher income from operations and non-operating income, partially offset by high interest expense [12] - Consolidated net debt position reached MXN 70 billion at the end of September [12] Business Line Data and Key Metrics Changes - In the Proximity Division, same-store sales in Mexico were stable, with a 9.7% increase in same-store sales for Q3 2021 compared to 2020, but a decline of 3.5% compared to Q3 2019 [14] - The Health Division expanded its drugstore count by 81 net additions, with revenues increasing by 8.2% and same-store sales up by 4.2% [15] - The Fuel Division saw revenues increase by 20.5% and same-station sales grow by 16.7% compared to Q3 2020 [17] Market Data and Key Metrics Changes - The Fuel Division continues to see improving demand numbers, although still below pre-pandemic levels [8] - Coca-Cola FEMSA experienced a volume growth of 5.8% over the last year, with revenues increasing by 3.4% despite supply chain disruptions [19] Company Strategy and Development Direction - The company aims to open at least 10,000 more stores in Mexico over the next decade, with a focus on accelerating openings in Colombia and Chile [21][22] - Digital initiatives, including the OXXO Premia loyalty program and the spin platform, are seen as key growth opportunities [23][35] - The logistics and distribution operations are gaining momentum, with a focus on expanding geographical footprint in the U.S. [26] Management's Comments on Operating Environment and Future Outlook - Management noted gradual improvements in health and mobility trends, with expectations for continued recovery in consumer behavior [6] - The company is optimistic about its growth potential in Latin America, particularly in Colombia and Chile, and is focused on enhancing its digital capabilities [22][29] Other Important Information - CapEx increased by 38% due to a low comparison base in Q3 2020 [12] - The company is making progress in its beer portfolio in Brazil and testing additional distribution categories [9] Q&A Session Summary Question: What are the strategic and capital allocation priorities for the future? - Management indicated that a detailed discussion on strategic priorities will occur in January, with a focus on the current quarter [39][40] Question: Expectations for OXXO and pharmacy openings next year? - Management expects to target around 1,000 new store openings in 2022, with pharmacy growth projected at double digits [48][54] Question: Update on Jetro and OK Market acquisition status? - The OK Market acquisition in Chile has been approved, and the company is optimistic about the Jetro partnership and potential growth opportunities [84][85]
FEMSA(FMX) - 2021 Q2 - Earnings Call Transcript
2021-07-29 15:25
Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) Q2 2021 Earnings Conference Call July 28, 2021 10:00 AM ET Company Participants Juan Fonseca - Director of Investor Relations Paco Camacho - Chief Corporate Officer Eugenio Garza - Finance and Corporate Development Director Conference Call Participants Bob Ford - Bank of America Alan Alanis - Santander Luis Willard - GBM Antonio Hernandez - Barclays Ãlvaro GarcÃa - BTG Ricardo Alves - Morgan Stanley Rodrigo Alcantara - UBS Rodrigo Echagaray - Scotiabank ...
FEMSA(FMX) - 2021 Q1 - Earnings Call Transcript
2021-05-01 18:41
Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) Q1 2021 Earnings Conference Call April 29, 2021 10:00 AM ET Company Participants Juan Fonseca – Director-Investor Relations Eugenio Garza – Finance and Corporate Development Director Eduardo Padilla – Chief Executive Officer Conference Call Participants Bob Ford – Bank of America Ricardo Alves – Morgan Stanley Alvaro Garcia – BTG Alan Alanis – Santander Marcella Recchia – Credit Suisse Rodrigo Alcantara – UBS Ulises Argote – JPMorgan Carlos Laboy – HSBC ...
FEMSA(FMX) - 2020 Q4 - Annual Report
2021-04-13 16:00
Table of Contents As filed with the Securities and Exchange Commission on April 14, 2021 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 20-F ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2020 Commission file number 001-35934 Fomento Económico Mexicano, S.A.B. de C.V. (Exact name of registrant as specified in its charter) Mexican Economic Development, Inc. (Translation of registrant's name into English ...
FEMSA(FMX) - 2020 Q4 - Earnings Call Transcript
2021-03-01 22:53
Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) Q4 2020 Earnings Conference Call March 1, 2021 10:00 AM ET Company Participants Juan Fonseca - Investor Relations Director Francisco Camacho - Chief Corporate Officer Eugenio Garza - Director of Finance and Corporate Development Conference Call Participants Benjamin Theurer - Barclays Miguel Tortolero - GBM Alan Alanis - Santander Robert Ford - BofA Merrill Lynch Alvaro Garcia - BTG Pactual Marcella Recchia - Credit Suisse Rodrigo Alcantara - UBS ...