Company Overview - Coca-Cola FEMSA is the largest Coca-Cola system bottler in the world by volume [1] - The company operates in 10 countries across Latin America [1] - It has more than 2 million sales outlets and offers leading brands in all its operating geographies [1]

Group 1 - The conference call is focused on reviewing Coca-Cola FEMSA's second quarter 2025 results, highlighting a transition to a Zoom-based platform for improved audio quality and participant connection [2][3][4] - Key participants in the call include the CEO Ian Craig and CFO Gerardo Cruz, indicating a strong leadership presence during the discussion [1][4] - The call will include a Q&A session, allowing participants to engage directly with the company's leadership [4]

Financial Data and Key Metrics Changes - Consolidated volume declined 5.5% to 1,035,000 unit cases, driven by declines in Mexico, Brazil, Colombia, and Panama, partially offset by growth in Argentina, Uruguay, Guatemala, and other Central American territories [8] - Total revenues grew 5% to COP72.9 billion, with a 2.4% increase on a neutral currency basis [9] - Gross profit increased 3.4% to MXN33 billion, with a margin contraction of 70 basis points to 45.3% [9] - Operating income remained flat at COP9.7 billion, with an OI margin contracting 60 basis points to 13.4% [10] - Adjusted EBITDA decreased 3.8% to MXN13.4 billion, with an EBITDA margin contraction of 160 basis points to 18.4% [10] - Majority net income decreased 5.3% to MXN5.3 billion, primarily due to increased comprehensive financial results from higher interest expenses and a lower foreign exchange gain [11] Business Line Data and Key Metrics Changes - In Mexico, volume declined 10%, cycling a historic second quarter from the previous year that grew 7.9% [11] - In Guatemala, volumes increased 1.6% to 51.3 million unit cases, with a 10,000 new customer increase [17] - In Brazil, volumes declined 1.5% year on year, cycling strong 12.1% growth from last year [19] - In Colombia, volumes declined 2.8% year on year, while in Argentina, volumes increased 11.9% [22][24] Market Data and Key Metrics Changes - Mexico faced a softer macroeconomic backdrop and adverse weather, impacting consumer behavior [7] - Brazil's volume performance was affected by colder temperatures, particularly in June [19] - Argentina's macro indicators improved, with monthly inflation below 2%, fostering a disciplined financial surplus policy [23] Company Strategy and Development Direction - The company remains focused on long-term sustainable growth, with investments in capacity expansions [7] - Key initiatives include improving customer service metrics and enhancing productivity [14][15] - The company is leveraging affordability initiatives in response to negative consumer sentiment in Mexico [14] Management's Comments on Operating Environment and Future Outlook - Management acknowledged a challenging first half of the year but remains optimistic about long-term perspectives [7] - The outlook for the second half of the year is cautious, with expectations of a more complex scenario due to economic factors [41] - Management is focused on leveraging local initiatives to recover momentum in the second half of 2025 [24] Other Important Information - The company completed key projects and began additional capacity initiatives during the first half of the year [15] - The Porto Alegre plant has returned to 100% capacity, with a full portfolio of SKUs restored [67][69] Q&A Session Summary Question: Expectations for the second half of the year and market share in Mexico - Management discussed a cautious outlook for the second half, with market share in modern trade above last year but below in traditional trade [41][43] Question: Performance in Brazil and channel specifics - Management indicated that weather was a key driver of performance in Brazil, with expectations for a rebound in volumes [44][45] Question: Pricing mix in Mexico and Brazil - Management noted that pricing held well in Mexico despite promotional spending, with a cautious pricing stance expected for the end of the year [49][54] Question: CapEx investments and updates on the Porto Alegre plant - Management confirmed commitment to structural capacity investments while adjusting volume-linked CapEx as needed [62][66] Question: Interest expense and leverage position - Management acknowledged higher interest expenses due to new financing and higher rates in Brazil, with expectations for balance sheet adjustments in the future [92][95]

Financial Data and Key Metrics Changes - Consolidated volume declined 5.5% to 1,035,000 unit cases, driven by declines in Mexico, Brazil, Colombia, and Panama, partially offset by growth in Argentina, Uruguay, Guatemala, and other Central American territories [6] - Total revenues grew 5% to COP72.9 billion, with a 2.4% increase on a neutral currency basis [7] - Gross profit increased 3.4% to MXN33 billion, with a margin contraction of 70 basis points to 45.3% [7] - Operating income remained flat at COP9.7 billion, with an operating income margin contracting 60 basis points to 13.4% [8] - Adjusted EBITDA decreased 3.8% to MXN13.4 billion, with an EBITDA margin contraction of 160 basis points to 18.4% [9] - Majority net income decreased 5.3% to MXN5.3 billion, primarily due to increased comprehensive financial results from higher interest expenses and a lower foreign exchange gain [10] Business Line Data and Key Metrics Changes - In Mexico, volume declined 10%, cycling a historic second quarter from the previous year, which grew 7.9% [10] - In Guatemala, volumes increased 1.6% to 51.3 million unit cases, with a 10,000 new customer increase [15] - In Brazil, volumes declined 1.5% year on year, cycling strong 12.1% growth from the previous year [17] - In Colombia, volumes declined 2.8% year on year, while in Argentina, volumes increased 11.9% [20][21] Market Data and Key Metrics Changes - Mexico faced a softer macroeconomic backdrop and adverse weather, impacting consumer behavior [5] - Brazil's volume performance was affected by colder temperatures, particularly in June [17] - In Argentina, macro indicators improved, with monthly inflation below 2% [21] Company Strategy and Development Direction - The company remains focused on long-term sustainable growth, with investments in capacity expansions [5] - Key initiatives include improving customer service metrics and enhancing productivity [13][14] - The company is leveraging affordability initiatives to address consumer sentiment in Mexico [12][13] Management's Comments on Operating Environment and Future Outlook - Management acknowledged a challenging first half of the year but remains optimistic about long-term perspectives [5] - The outlook for the second half of the year is cautious, considering declining personal consumption expenditures and remittances [39] - Management is focused on maintaining market share and addressing pricing gaps in the traditional channel [40] Other Important Information - The company completed key projects and began additional capacity initiatives during the first half of the year [14] - The Porto Alegre plant in Brazil is back to 100% capacity, with a full portfolio of SKUs restored [63][66] Q&A Session Summary Question: Expectations for the second half of the year and market share in Mexico - Management discussed a cautious outlook for the second half, planning for a more complex scenario due to economic impacts and weather [39][41] Question: Performance in Brazil and channel specifics - Management indicated that weather was a key driver of performance in Brazil, with expectations for recovery as conditions improve [42] Question: Pricing mix in Mexico and Brazil - Management noted that pricing strategies in Mexico are cautious, while Brazil's pricing reflects a mix effect rather than inflation-driven increases [51][52] Question: CapEx investments and updates on the Porto Alegre plant - Management confirmed commitment to structural capacity investments while adjusting volume-linked CapEx based on market conditions [60][63] Question: Interest expense and leverage position - Management acknowledged higher interest expenses due to increased rates in Brazil but indicated a stable raw material environment overall [84][90]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 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 July 2025 Commission File Number 1-12260 COCA-COLA FEMSA, S.A.B. de C.V. (Translation of registrant's name into English) United Mexican States (Jurisdiction of incorporation or organization) Calle Mario Pani No. 100, Santa Fe Cuajimalpa, Cuajimalpa de Morelos, 05348, Ciudad de México, México (Address of ...

Group 1 - The individual has over five years of cumulative experience in Consulting & Audit Firms, including roles in professional Valuation, FP&A, and Controlling [1] - The approach is primarily value-oriented, emphasizing long-term opportunities or risks rather than short- to mid-term timing indicators [1] - The written word and data presented are valued more than a simple rating system, which does not account for time horizons or investment strategies [1] Group 2 - The analyst has a beneficial long position in the shares of KO, indicating a personal investment interest [2] - The article expresses the author's own opinions and is not influenced by compensation from any company mentioned [2] - There is no business relationship with any company whose stock is mentioned in the article, ensuring independence in analysis [2]

Core Viewpoint - The article emphasizes the importance of identifying and maintaining trends in short-term investing, highlighting that sound fundamentals and positive earnings estimates are crucial for sustaining momentum in stocks [1]. Group 1: Recent Price Strength Screen - The "Recent Price Strength" screen is a unique short-term trading strategy that helps investors shortlist stocks with strong fundamentals capable of maintaining an uptrend [2]. - Stocks that pass this screen are typically trading in the upper portion of their 52-week high-low range, indicating bullish sentiment [2]. Group 2: Coca-Cola FEMSA (KOF) Analysis - Coca-Cola FEMSA (KOF) has shown a solid price increase of 9.4% over the past 12 weeks, indicating investor confidence in its potential upside [3]. - KOF has also maintained a price increase of 3.1% over the last four weeks, suggesting that the upward trend is still intact [4]. - Currently, KOF is trading at 85.2% of its 52-week high-low range, indicating a potential breakout [4]. Group 3: Fundamental Strength - KOF holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks based on earnings estimate revisions and EPS surprises [5]. - The Zacks Rank system has a strong track record, with Zacks Rank 1 stocks averaging an annual return of +25% since 1988 [6]. - KOF also has an Average Broker Recommendation of 1 (Strong Buy), reflecting high optimism from the brokerage community regarding its near-term price performance [6]. Group 4: Additional Investment Opportunities - Besides KOF, there are several other stocks that meet the criteria of the "Recent Price Strength" screen, suggesting further investment opportunities [7]. - The article encourages exploring over 45 Zacks Premium Screens tailored to different investing styles for identifying potential winning stocks [7].

Financial Data and Key Metrics Changes - Consolidated volume declined 2.2% year-on-year to 986.5 million unit cases, primarily due to declines in Mexico and Colombia, partially offset by growth in Brazil, Argentina, Uruguay, and Guatemala [10] - Total revenues grew 10% to MXN 70.2 billion, with a currency neutral increase of 5.9% [11] - Gross profit increased 12% to MXN 31.8 billion, leading to a margin expansion of 80 basis points to 45.4% [11] - Operating income rose 7.3% to MXN 9.2 billion, with operating margin contracting 30 basis points to 13.2% [12] - Adjusted EBITDA increased 11% to MXN 13.3 billion, with EBITDA margin expanding 20 basis points to 18.9% [13] - Majority net income increased by 2.7% to MXN 5.1 billion [14] Business Line Data and Key Metrics Changes - In Mexico, volumes declined 5.4%, influenced by economic deceleration and geopolitical tensions [15] - Sparkling beverage volume declined 3.3%, while steel beverages grew 3.9% and bottled water grew 4.6% [10] - In Guatemala, volumes increased 1.9% despite high inflation affecting consumer sentiment [18] - Brazil saw a 2.5% volume growth, with Coca-Cola Zero Sugar growing 65% year-on-year [24] - Colombia experienced an 8.1% volume decline due to a challenging macro and sociopolitical context [27] - Argentina and Uruguay volumes increased by 9.1% and 6% respectively, with Argentina showing signs of gradual recovery [29] Market Data and Key Metrics Changes - Mexico and Central America volumes declined 4.6% to 553.3 million unit cases, while revenues increased 4.8% to MXN 39.7 billion [36] - South America volumes increased 1% to 433.2 million unit cases, with revenues rising 17.4% to MXN 30.5 million [40] - Gross profit in South America increased 22.8%, leading to a margin expansion of 190 basis points to 42.5% [41] Company Strategy and Development Direction - The strategic focus for 2025 includes growing the core business, enhancing the Juntos+ initiative, and fostering a customer-centric culture [8] - The company aims to navigate the current operating environment through tactical adjustments and promotional activities [7] - Sustainability remains a priority, with significant progress reported in renewable energy use and waste management [47] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to adapt to external challenges and maintain long-term objectives [7] - The macroeconomic backdrop remains uncertain, with increased competitive intensity noted in the beverage industry [104] - Management anticipates a gradual recovery in consumer sentiment and volume growth in the second half of 2025 [113] Other Important Information - The company identified approximately $90 million in savings initiatives across all operations, focusing on Mexico and Colombia [60] - The company reported a net effect of MXN 65 million from insurance payments in Mexico for the quarter [141] Q&A Session Summary Question: Insights on adjusting to the uncertain environment in Mexico - Management highlighted the need for accessible pricing and an intense promotional calendar to remain competitive in the market [58] Question: Cost savings projections for 2025 - Management identified $90 million in savings, distributed across various operational areas, with a significant portion expected from Mexico [60] Question: Profitability by country in Latin America - Management noted that margin expansion was observed across all operations, particularly in Brazil and Argentina [70] Question: Market share trends in Mexico - Management acknowledged a decline in market share due to competitive pressures but indicated recovery efforts were underway [81] Question: Updates on working capital dynamics - Management explained that working capital changes were driven by inventory replenishment and ERP migration processes [96] Question: Impact of promotional strategies in April - Management indicated that adjustments made in February were starting to yield positive results by April [104] Question: Outlook for cost of goods sold - Management expects continued relief from lower sweetener prices and stable PET costs for the remainder of the year [136]

Financial Data and Key Metrics Changes - Consolidated volume declined 2.2% year-on-year to 986.5 million unit cases, primarily due to declines in Mexico and Colombia, partially offset by growth in Brazil, Argentina, Uruguay, and Guatemala [10] - Total revenues grew 10% to MXN 70.2 billion, with a currency neutral increase of 5.9% [11] - Gross profit increased 12% to MXN 31.8 billion, leading to a margin expansion of 80 basis points to 45.4% [11] - Operating income rose 7.3% to MXN 9.2 billion, with an operating margin contraction of 30 basis points to 13.2% [12] - Adjusted EBITDA increased 11% to MXN 13.3 billion, with an EBITDA margin expansion of 20 basis points to 18.9% [13] - Majority net income increased by 2.7% to MXN 5.1 billion [14] Business Line Data and Key Metrics Changes - In Mexico, volumes declined 5.4%, influenced by economic deceleration and geopolitical tensions [15] - Sparkling beverage volume declined 3.3%, while steel beverages grew 3.9% and bottled water grew 4.6% [10] - In Guatemala, volumes increased 1.9% despite high inflation affecting consumer sentiment [18] - Brazil saw a 2.5% volume growth, with Coca-Cola Zero Sugar growing 65% year-on-year [24] - Colombia experienced an 8.1% volume decline due to a challenging macro and sociopolitical context [27] - Argentina and Uruguay volumes increased by 9.1% and 6% respectively, with Argentina showing signs of gradual recovery [29] Market Data and Key Metrics Changes - Mexico's volume decline was attributed to a high comparison base from the previous year and a deceleration in economic activity [15] - In Guatemala, despite a 10% increase in remittances, consumer sentiment remained cautious, leading to a higher propensity to save [20] - Brazil's resilient consumer environment contributed to volume growth, despite a challenging comparison base [23] - Colombia's inflation and deteriorating consumer confidence negatively impacted volumes [27] Company Strategy and Development Direction - The strategic focus for 2025 includes growing the core business, enhancing the Juntos+ initiative, and fostering a customer-centric culture [8] - The company aims to navigate the current operating environment through tactical adjustments and promotional activities [7] - Sustainability remains a priority, with significant progress reported in renewable energy use and waste management [47] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to adapt to external challenges and maintain long-term objectives [7] - The competitive environment in Mexico has intensified, necessitating rapid adjustments in pricing and promotional strategies [58] - Management remains cautiously optimistic about the budget, anticipating a recovery in the second half of the year [113] Other Important Information - The company identified approximately $90 million in savings initiatives across all operations, with a focus on Mexico and Colombia [60] - The company reported a net effect of MXN 65 million from insurance payments in Mexico for the quarter [141] Q&A Session Summary Question: Insights on adjusting to the uncertain environment in Mexico - Management highlighted the need for accessible pricing and an intense promotional calendar to remain competitive in the current market [58] Question: Cost savings projections for 2025 - Management identified $90 million in savings initiatives, distributed across various operational areas [60] Question: Profitability by country in Latin America - Management noted margin expansion across all operations, particularly in Brazil and Argentina [70] Question: Market share trends in Mexico - Management acknowledged a decline in market share due to competitive pressures but indicated recovery efforts are underway [81] Question: Updates on the rollout of Juntos+ in Mexico - Management confirmed plans to start the rollout in Mexico around June or July, following successful implementation in Brazil [93] Question: Outlook for cost of goods sold - Management expects continued relief from lower sweetener prices and stable PET costs for the remainder of the year [136]

Financial Performance - Total revenues increased by 10.0% to Ps. 70,157 million, with a currency-neutral growth of 5.9%[24] - Gross profit rose by 12.0% to Ps. 31,832 million, with a gross margin expansion of 80 basis points to 45.4%[25] - Operating income grew by 7.3% to Ps. 9,248 million, while the operating margin contracted by 30 basis points to 13.2%[26] - Majority net income increased by 2.7% to Ps. 5,139 million, with earnings per share at Ps. 0.31[33] - Total revenues increased by 17.4% to Ps. 30,488 million, driven mainly by volume growth and revenue management initiatives[49] - Gross profit rose by 22.8% to Ps. 12,947 million, with a gross margin expansion of 190 basis points to 42.5%[50] - Operating income increased by 31.1% to Ps. 3,848 million, resulting in an operating margin expansion of 130 basis points to 12.6%[51] - Adjusted EBITDA grew by 11.0% to Ps. 13,254 million, with a margin of 18.9%[68] - Adjusted EBITDA for Q1 2025 was 5,346 million Pesos, up 27.3% from 4,200 million Pesos in Q1 2024[76] Volume and Sales - Volume declined by 2.2% to 986.5 million unit cases, primarily due to decreases in Mexico and Colombia[23] - Volume increased by 1.0% to 433.2 million unit cases, primarily due to growth in Brazil (2.5%), Argentina (9.1%), and Uruguay (6.0%), despite an 8.1% decline in Colombia[48] - The number of transactions increased to 3,018.7 million, a growth of 2.7% from 2,938.9 million transactions in the same quarter last year[76] - Volume of sales reached 433.2 million unit cases, a slight increase of 1.0% from 428.8 million unit cases in Q1 2024[76] Expenses and Liabilities - Operating expenses rose by 14.3% to Ps. 22,478 million, impacting operating income growth[64] - The comprehensive financing result recorded an expense of Ps. 1,126 million, a decrease from Ps. 1,188 million in the previous year[29] - The company’s net debt rose to 42,552 million Pesos, an 11.0% increase from 38,329 million Pesos[83] - Total current liabilities decreased by 10% to 60,160 million Pesos from 67,171 million Pesos[81] Market and Economic Conditions - The company continues to monitor macroeconomic conditions across its operating regions, including inflation and currency fluctuations[94] - Inflation rates in key markets for 1Q25: Mexico at 0.26%, Colombia at 2.30%, and Argentina at 7.40%[94] - The average exchange rate for the Mexican Peso in 1Q25 was 20.42, a 20.2% increase from 1Q24[95] - The closing exchange rate for the Argentine Peso was 1,074.00 in March 2025, reflecting a 25.2% increase from March 2024[95] - Coca-Cola FEMSA's financial performance is influenced by regional economic factors, including inflation and exchange rates[94] Strategic Initiatives - The company is focused on long-term strategies while addressing short-term challenges through various initiatives[12] - The company enrolled over 1.3 million customers in the Premia Juntos loyalty program, achieving a redemption rate of 75%[15] - Future outlook includes potential strategies for market expansion and product innovation, although specific details were not disclosed in the call[96] - The company emphasizes the importance of adapting to local market conditions and consumer preferences in its operational strategies[96] Reporting and Compliance - Coca-Cola FEMSA reported 1Q25 results on April 25, 2025[96] - The CFO, Gerardo Cruz Celaya, signed the report, indicating the company's commitment to transparency and regulatory compliance[99]