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Fomento Económico Mexicano, S.A.B. de C.V. (FEMSA) is a renowned Mexican multinational conglomerate headquartered in Monterrey, Mexico. FEMSA stands out in the beverage and retail sectors across Central and South America, operating the world's largest independent Coca-Cola bottling group and Mexico's largest convenience store chain.
FEMSA is structured into several divisions:
- Retail Division: This includes OXXO, the leading convenience store chain in Mexico with expanding operations under Proximity Americas and Proximity Europe divisions. The European division includes Valora, which operates convenience and foodvenience formats.
- Health Division: FEMSA operates drugstores and related activities through this division, alongside Digital@FEMSA, which encompasses digital financial services such as Spin by OXXO and Spin Premia.
- Beverage Division: Coca-Cola FEMSA, the largest bottler of Coca-Cola products globally by volume, forms a significant part of FEMSA's operations.
- Strategic Business Unit: This division handles logistics, distribution, point-of-sale refrigeration, and plastic solutions, serving both FEMSA's units and third-party clients.
In 2023, FEMSA divested its 15% stake in Heineken and its distribution business, focusing on its core sectors. Coca-Cola FEMSA and the OXXO chain collectively constituted 75% of FEMSA's total revenue and approximately 90% of its profits in 2023.
FEMSA's latest significant financial move includes a comprehensive Tender Offer to purchase outstanding US$552.83 million worth of 4.375% Senior Notes due 2043, with settlement concluded on November 9, 2023. This is part of FEMSA's strategic initiatives announced in February 2023, aimed at optimizing its business platform.
With over 350,000 employees across 18 countries, FEMSA is committed to creating economic and social value. The company is also recognized for its sustainability practices, featuring in indexes such as the Dow Jones Sustainability MILA Pacific Alliance, the FTSE4Good Emerging Index, and the S&P/BMV Total Mexico ESG Index.
FEMSA continues to focus on growth through strategic investments and partnerships, strengthening its position as a key player in the beverage and retail industries.
Fomento Económico Mexicano (FMX) has announced its upcoming Second Quarter 2021 Conference Call set for July 28, 2021, at 10:00 AM ET. The results will be released before markets open on the same day. Key speakers include Francisco Camacho, Eugenio Garza y Garza, and Juan Fonseca. The call will be accessible via toll-free US and international numbers, and will also be webcast live. FEMSA operates in retail, beverage, and logistics, employing over 320,000 people across 13 countries.
Fomento Económico Mexicano (FMX) reported its Q1 2021 results, showing a 1.8% increase in consolidated revenues to 124,474 million Ps and a 1.5% rise in gross profit, totaling 46,534 million Ps. However, the Proximity Division witnessed a 4.8% revenue decline. Notably, the newly reported Logistics and Distribution segment contributed 10,809 million Ps in revenue. CEO Eduardo Padilla highlighted ongoing challenges due to the health crisis but noted a trend of improvement and commitment to long-term sustainability goals.
Fomento Económico Mexicano, S.A.B. de C.V. (FMX) has submitted its annual report on Form 20-F for the fiscal year ending December 31, 2020, to the U.S. SEC and the Mexican authorities. These reports are accessible on FEMSA's investor relations website. Shareholders can also request a hard copy of the report, including audited financial statements, free of charge. FEMSA operates in retail, beverage, and beer sectors, employing over 320,000 individuals across 13 countries and is recognized in various sustainability indices.
Fomento Económico Mexicano (FMX) will host its Q1 2021 Conference Call on April 29, 2021, at 10:00 AM ET. The results will be released before market open on the same day. The call will feature executives including Francisco Camacho and Eugenio Garza y Garza. For participation, dial (800) 289 0438 (US toll-free) or +1 (323) 794 2423 (international) using Conference ID: 4762020. A live webcast will be accessible through FEMSA's investor relations page.
On March 31, 2021, NW Synergy has rebranded itself as Envoy Solutions, reflecting its mission as a national leader in janitorial supply and distribution. The company operates 37 distribution centers and employs nearly 2,000 staff, serving over 36,000 customers. Envoy Solutions consolidates various distribution companies under its umbrella, including WAXIE Sanitary Supply and North American Corporation. The rebranding aims to build a cohesive national platform while honoring the legacy of its regional brands. Envoy Solutions is supported by FEMSA (NYSE: FMX).
Fomento Económico Mexicano S.A.B. de C.V. (FMX) held its Annual Ordinary General Shareholders Meeting on March 24, 2021. Key approvals included consolidated financial statements for 2020, dividend declarations of Ps. 0.4792 per Series 'D' share and Ps. 0.3833 per Series 'B' share, totaling Ps. 23.0000 per ADS, payable in two installments on May 6 and November 5, 2021. Additionally, shareholders approved a share repurchase program with a maximum of Ps. 17,000 million, the same as 2020. The meeting further included the reelection of Board members.
Fomento Económico Mexicano (FEMSA) announced a proposed ordinary dividend of Ps. 7,687 million for 2021, subject to shareholder approval at the annual meeting on March 24, 2021. This dividend reflects a decrease of 25.8% from the previous year, illustrating a cautious strategy following a difficult year impacted by the global pandemic, which reduced cash flow from various investments and operations.
Fomento Económico Mexicano (FMX) released its financial results for Q4 and FY2020, showing a consolidated revenue drop of 1.5% and a full year decline of 2.7% compared to the previous year. The gross profit decreased by 0.1% in Q4 and 1.0% for the year. Despite challenges from COVID-19, the Health Division saw a significant increase in operating income, particularly in Chile and Mexico. Coca-Cola FEMSA achieved double-digit growth in operating income, highlighting resilience amidst market challenges.
Fomento Económico Mexicano (FMX) invites participants to its Fourth Quarter and Full Year 2020 Conference Call on March 1, 2021, at 10:00 AM ET. The call will feature executives including Francisco Camacho and Eugenio Garza y Garza. Quarterly results will be released on the same date before market opening. For participation, dial (888) 394 8218 in the U.S. or +1 (323) 701 0225 internationally with Conference ID 2139686. The conference will also be broadcast live online.
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