Mexico City. Despite unfavorable weather conditions in Mexico, Coca-Cola FEMSA, the largest bottler of that brand’s soft drinks in the world by volume, reported profits of 5,858 million pesos in the third quarter of the year, an amount that translated into an increase of 8.9 percent compared to the same period last year.
Ian Craig, general director of the firm, highlighted that the results are explained by the ability to face crises in its business, but also by solid growth achieved in Brazil and Guatemala.
The company highlighted that total revenues stood at 69,601 million pesos, a figure that translated into an increase of 10.7 percent in July-September compared to the same period in 2023.
“The advance was primarily driven by our revenue management initiatives and favorable mix effects,” the report on its quarterly results noted.
In volume, the firm reported an increase of 0.8 percent compared to the last year’s quarter, driven by volume growth in Brazil, Guatemala and South Central America, including stable volume in Argentina. These effects were partially offset by a decrease in Mexico, Colombia and Uruguay.
Coca-Cola Femsa indicated that in the first nine months of the year it observed profits of 16,445 million pesos, data that showed an increase of 15.7 percent compared to the same period in 2023.
“This increase was primarily driven by solid growth in volume and revenue management initiatives partially offset by unfavorable effects from the conversion of most of our operating currencies to Mexican pesos,” the company said.
Coca-Cola Femsa highlighted that this quarter it recognized a non-recurring income of 339 million pesos related to insurance claims due to the impacts of Hurricane Otis that affected in October 2023.
Craig stressed that the workers affected by the hurricane John in Guerrero they received help. He also reported plans to reopen the plant in Porto Alegre, after they were temporarily closed due to flooding that affected Rio Grande do Sul, Brazil, last May.
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