FOMENTO ECONOMICO MEXICANO, S.A.B. DE C.V. - FMX STOCK NEWS

Fomento Económico Mexicano S.A.B. de C.V. (FMX) reported a robust performance for Q1 2022, with total consolidated revenues surging by 18.6% year-over-year, reaching 147,636 million Ps.

Notable highlights include a 130 bps increase in Proximity EBITDA margin to 13.3%, and Health EBITDA margin up 150 bps to 10.7%, both setting first-quarter records. Coca-Cola FEMSA achieved 10.1% volume growth across all markets. Overall, the results reflect effective growth strategies and operational efficiencies despite ongoing inflation and supply chain concerns.

Fomento Económico Mexicano (FMX) has submitted its annual report on Form 20-F to the SEC for the fiscal year ending December 31, 2021. This report is accessible on FEMSA's investor relations website. Shareholders can request a hard copy of the report, which includes audited financial statements, at no cost. FEMSA operates in various sectors, including retail, health, beverage, and logistics, employing over 320,000 individuals across 13 countries. The company is recognized for its sustainability efforts, being part of notable sustainability indexes.

FEMSA, through its US subsidiary Envoy Solutions, has signed an agreement to acquire Sigma Supply of North America Inc. for its distribution capabilities. This acquisition is a strategic effort to enhance Envoy’s national distribution platform in the U.S., adding significant packaging materials distribution services. With this acquisition, Envoy will expand its footprint, particularly in Texas, and increase its operational centers to nearly 70 across 34 states. Sigma Supply generated approximately US$370 million in revenue in 2021, with the deal expected to finalize in Q2 2022.

Fomento Económico Mexicano (FMX) held its Annual Shareholders' Meeting on April 8, 2022, where key resolutions were approved. Shareholders accepted the consolidated financial statements for 2021 and the 2021 CEO's annual report. A cash dividend of Ps. 3.4000 per 'BD' Unit and Ps. 2.8300 per 'B' Unit was approved, payable in two installments on May 5 and November 7, 2022. Additionally, the maximum amount for the share repurchase program was set at Ps. 17,000 million, matching the 2021 approval. Board members for 2022 were also elected.

Fomento Económico Mexicano, S.A.B. de C.V. (FMX) announced its First Quarter 2022 Conference Call on May 2, 2022, at 9:00 AM ET. The quarterly results will be released before markets open on the same day. Participants can join via phone using the provided dial-in numbers. The call will be webcast live, and a replay will be available afterward. FEMSA operates in various sectors, including retail, beverage, and logistics, employing over 320,000 individuals across 13 countries. The company is recognized for its sustainability performance, being a member of notable sustainability indexes.

Fomento Económico Mexicano (FMX) has proposed an ordinary dividend of Ps. 11,358 million for 2022, reflecting a significant 48% and 10% increase from 2021 and 2020, respectively. This proposal, subject to approval at the Annual Shareholders' meeting on April 8, 2022, aligns with FEMSA's strong cash generation and promotes long-term business performance. The increase marks a return to historical dividend trends after a deviation in 2021.

FEMSA (NYSE: FMX) has successfully completed the acquisition of OK Market, a small-format store chain in Chile, after receiving regulatory approvals. This deal adds 134 new locations to FEMSA's existing proximity business, bringing the total to 258 stores in the region. The acquisition enhances FEMSA's scale as a proximity store operator in Chile, enabling better service for its consumers.

FEMSA reported its operational and financial results for 4Q and full year 2021, indicating a strong recovery from COVID-19 impacts. The company achieved consolidated revenues of 151.54 billion Ps, up 16.3% from 4Q20 and 14.6% from 4Q19. Gross profit reached 59.91 billion Ps, marking a growth of 15.2% vs. 4Q20. FEMSA’s CEO highlighted the return of consumer habits and strong margins due to efficiency improvements. Significant progress was noted in retail digital platforms and a 46% revenue increase in U.S. operations. The company is well-positioned for future growth.

FEMSA announces its Annual Ordinary Shareholders' Meeting on April 8, 2022, in Monterrey, Mexico. The meeting will enhance shareholder accountability by allowing individual director voting and aims to increase the influence of independent directors, reducing board size from 18 to 14-15 by 2023. Committees will also receive enhanced oversight roles, with independent directors making up 40% of the board. Governance priorities will focus on increasing board diversity and expertise in areas like Digital and E-commerce.