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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.
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FEMSA holds Annual Shareholders' Meeting, elects new directors, and approves dividends for 2024. The company declared ordinary and extraordinary cash dividends to be paid in installments throughout 2024 and 2025.
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FEMSA announces an accelerated share repurchase agreement to repurchase $400 million of its American Depositary Shares, enhancing capital returns to shareholders.
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FEMSA announces a redefined corporate organization and senior leadership changes. The company is implementing changes in its corporate organization as part of its commitment to the FEMSA Forward strategy. Francisco Camacho Beltrán and Eugenio Garza y Garza will step down from their roles as Chief Corporate Officer and Chief Financial Officer, respectively, with Martin Arias Yaniz appointed as the new CFO. The PR highlights the significant contributions of the outgoing executives and outlines the transition plan for a seamless handover.
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FEMSA (FMX) reported positive financial results for Q4 and full year 2023, with total consolidated revenues growing by 4.6% and various segments showing revenue increases. Despite strong revenues, the company faced challenges such as increased labor costs in Mexico and specific business situations affecting profitability. FEMSA highlighted the growth in Proximity Americas and Coca-Cola FEMSA, as well as the strategic initiatives to reach leverage objectives in the coming years.
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FEMSA announces its Annual Ordinary Shareholders’ Meeting on March 22, 2024, in Monterrey, Mexico. The meeting will cover various agenda items, including the nomination of individuals to FEMSA's Board of Directors and committees. Detailed proposals and biographies are available on the company's website.
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FEMSA announces a revamped capital allocation strategy to enhance long-term intrinsic per-share value. Plans include significant investments in core growth initiatives, with a focus on Mexico, alongside returning capital to shareholders. The strategy aims to prioritize organic investments, inorganic opportunities meeting strict financial criteria, and a capital return framework targeting approximately six percent of FEMSA's market value over the next few years.
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FEMSA invites you to participate in its Fourth Quarter and Full Year 2023 Conference Call on February 23, 2024. The quarterly results will be released before markets open, and the conference call will be webcast live through streaming audio. Participants can dial in or access the replay on the company's investor relations website.
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FOMENTO ECONÓMICO MEXICANO, S.A.B. DE C.V. (FEMSA) (NYSE: FMX; BMV: FEMSAUBD, FEMSAUB) announced the successful completion of its Tender Offer to purchase its outstanding US$552,830,000 principal amount of 4.375% Senior Notes due 2043. The Offer expired on November 6, 2023, and settled on November 9, 2023. FEMSA accepted for purchase all Securities tendered and paid approximately US$117 million to holders whose Securities were accepted for purchase.
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FEMSA announced the results of its Tender Offer to purchase its outstanding Senior Notes due 2043. The offer expired on November 6, 2023, with a settlement date expected on November 9, 2023. The aggregate principal amount of the Securities tendered and accepted for purchase is US$126,799,000. Holders whose Securities are accepted will receive US$900.21 per US$1,000 principal amount of the Securities, plus accrued and unpaid interest.
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FEMSA announces the offer consideration for its Tender Offer to purchase its outstanding $552,830,000 principal amount of 4.375% Senior Notes due 2043. Holders of Securities who tender by November 6, 2023, or deliver a Notice of Guaranteed Delivery by November 8, 2023, will be eligible to receive $900.21 per $1,000 principal amount of Securities.
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FAQ
What is the current stock price of FOMENTO ECONOMICO MEXICANO, S.A.B. DE C.V. (FMX)?
The current stock price of FOMENTO ECONOMICO MEXICANO, S.A.B. DE C.V. (FMX) is $87.3 as of December 20, 2024.
What is the market cap of FOMENTO ECONOMICO MEXICANO, S.A.B. DE C.V. (FMX)?
The market cap of FOMENTO ECONOMICO MEXICANO, S.A.B. DE C.V. (FMX) is approximately 30.6B.
What is FEMSA?
FEMSA, or Fomento Económico Mexicano, S.A.B. de C.V., is a Mexican multinational beverage and retail company headquartered in Monterrey, Mexico.
What businesses does FEMSA operate?
FEMSA operates Coca-Cola FEMSA, the largest independent Coca-Cola bottling group, and OXXO, the largest convenience store chain in Mexico. It also has divisions in health, logistics, and digital financial services.
What recent financial moves has FEMSA made?
FEMSA recently completed a Tender Offer to purchase outstanding US$552.83 million of 4.375% Senior Notes due 2043.
What are FEMSA's core business divisions?
FEMSA's core divisions include its Retail Division (OXXO, Valora), Health Division, Beverage Division (Coca-Cola FEMSA), and Strategic Business Unit.
How many employees does FEMSA have?
FEMSA employs over 350,000 people across 18 countries.
What sustainability indexes is FEMSA part of?
FEMSA is part of the Dow Jones Sustainability MILA Pacific Alliance, the FTSE4Good Emerging Index, and the S&P/BMV Total Mexico ESG Index.
What strategic initiatives did FEMSA announce in 2023?
In 2023, FEMSA announced a series of strategic initiatives aimed at optimizing its business platform, including a comprehensive review of its business units and capital structure.
What percentage of FEMSA's revenue comes from Coca-Cola FEMSA and OXXO?
In 2023, Coca-Cola FEMSA and the OXXO chain made up 75% of FEMSA's total revenue and around 90% of its profits.
Has FEMSA divested any major business segments recently?
Yes, FEMSA divested its 15% stake in Heineken and its distribution business in 2023.
What digital financial services does FEMSA offer?
FEMSA offers digital financial services through Spin by OXXO and Spin Premia.
FOMENTO ECONOMICO MEXICANO, S.A.B. DE C.V.
NYSE:FMX
FMX Rankings
FMX Stock Data
30.61B
357.82M
33.05%
0.6%
Beverages - Brewers
Consumer Defensive
United States of America
Monterrey