FEMSA Announces Fourth Quarter and Full Year 2024 Results

Core Insights - FEMSA reported strong operational and financial results for Q4 and the full year of 2024, with double-digit growth in revenues, gross profit, and income from operations across most business units, driven by platform strength and team efforts, alongside favorable foreign exchange conditions [4][8]. Financial Performance - Total consolidated revenues grew by 12.8% in Q4 and 11.2% year-to-date (YTD) 2024, while income from operations increased by 31.5% in Q4 and 19.8% YTD 2024 [2][8]. - Proximity Americas saw total revenues rise by 13.2% in Q4 and 10.3% YTD 2024, with income from operations increasing by 18.7% in Q4 and 11.2% YTD 2024 [2][8]. - Coca-Cola FEMSA's total revenues and income from operations grew by 14.3% and 25.0%, respectively, in Q4 compared to Q4 2023 [8]. Business Unit Highlights - Proximity Europe achieved a revenue growth of 21.5% in Q4 and 14.2% YTD 2024, with a gross profit increase of 17.5% in Q4 [2]. - The Health division reported a significant income from operations growth of 109.7% in Q4, although same-store sales showed a slight decline of 0.3% [2][8]. - The Fuel segment experienced a revenue growth of 8.0% in Q4 and 11.7% YTD 2024, with income from operations increasing by 6.9% in Q4 [2]. Strategic Initiatives - FEMSA continued to execute its capital allocation framework, returning record amounts of capital through dividends and share repurchases, with plans to accelerate this process in 2025 and 2026 [6]. - The company is facing a challenging consumer environment in many markets, particularly in Mexico, but remains confident in its strategic opportunities and team capabilities [8]. Governance - The Corporate Practices and Nominations Committee has initiated the succession process for the CEO position, indicating a focus on governance and leadership continuity [7].