MONTERREY, MEXICO--(Marketwired - Apr 28, 2016) - Fomento Económico Mexicano, S.A.B. de C.V. ("FEMSA") (
First Quarter 2016 Highlights:
Carlos Salazar Lomelín, FEMSA's CEO, commented: "We started the year on a solid note. FEMSA Comercio as a whole, including its three divisions and recently acquired operations, increased its revenues by 58.8 percent versus the first quarter of last year, and we are investing and adding talent to enable further growth. At its Retail Division, we continued to see strong comparable growth and profitability gains at OXXO, supported by our in-store initiatives and execution as well as by a robust macroeconomic backdrop in Mexico, while taking advantage of positive calendar shifts around the Easter holidays and the leap year. Our drugstore operations, now presented separately as the Health Division, include the results of Socofar and are also performing strongly, while allowing us to grow our store base and to invest in the integration of a single operating platform in Mexico. For its part, the Fuel Division is facing some temporary headwinds driven by a national price reduction and by our sustained rapid expansion strategy, both of which put short-term pressure on margins, but as we increase our scale over time we should be in a position to drive profits. At Coca-Cola FEMSA we achieved robust revenue growth in Mexico as well as market share and profitability gains in several key markets, even in the face of sustained macroeconomic and foreign exchange pressure, which makes us optimistic about the outlook for the business.
Beyond our operations, we keep working hard to position ourselves to continue taking advantage of our balance sheet flexibility as we pursue the many strategic opportunities ahead."
To obtain the full text of this earnings release, please visit our Investor Relations website at
www.femsa.com/investor under the Financial Reports section
FORWARD-LOOKING STATEMENTS
This report may contain certain forward-looking statements concerning our future performance that should be considered as good faith estimates made by us. These forward-looking statements reflect management's expectations and are based upon currently available data. Actual results are subject to future events and uncertainties, which could materially impact our actual performance.
FEMSA is a leading company that participates in the beverage industry through Coca-Cola FEMSA, the largest franchise bottler of Coca-Cola products in the world; and in the beer industry, through its ownership of the second largest equity stake in Heineken, one of the world's leading brewers with operations in over 70 countries. In the retail industry it participates through FEMSA Comercio, comprising a Retail Division operating various small-format store chains including OXXO, and a Fuel Division operating the OXXO GAS chain of retail service stations. Additionally, through its Strategic Businesses unit, it provides logistics, point-of-sale refrigeration solutions and plastics solutions to FEMSA's business units and third-party clients.
1 Excludes non-comparable results from operations at FEMSA Comercio for the last twelve months.
Contact Information:
Media Contact:
FEMSA Servicios SA de CV
(52) 55-5249-6843
www.femsa.com
Investor Contact:
(52) 81-8328-6167
www.femsa.com/investor