Mexico City. In the first quarter of the year, the income of Fomento Economico Mexicano (Femsa), a consortium that owns brands such as Coca Cola and Oxxo, reported 178 thousand 204 million pesos, which meant an increase of 11.3 percent compared to the 160 thousand 107 million reported from January to March 2023.
The results report for the first quarter of 2024, which was released this Friday, indicates that revenue growth was driven by better results in all its business units.
Femsa’s profits were 5,884 million pesos at the end of the first quarter of the year. He clarified that the figure is not comparable with the 50,329 million pesos obtained in the same period last year, since at that time the income obtained from the sale of Heineken was included.
In a disaggregated manner, Femsa detailed that the total income of the Proximity Americas division, which incorporates Oxxo, was 70 thousand 85 million pesos, an increase of 15.1 percent when compared to the 60 thousand 871 million reported in the first three months, but from the previous year.
“The above reflects an average increase of 9.7 percent in same-store sales, driven by a 7.3 percent growth in the average ticket and a 2.2 percent increase in traffic. These figures reflect the good performance of most of OXXO’s categories, driven by the strong performance of thirst and gathering occasions, including beer, snacks, and other beverages,” he noted.
Oxxo’s store base went from 21,615 at the end of March 2023 to 23,290 at the end of the same month of this year, which meant a growth of 7.7 percent.
Femsa explained that Spin by Oxxo, its fintech which offers financial services, reached a user base of 10.9 million, an increase of 70.1 percent compared to the 6.4 million reported at the end of the first quarter of 2023.
It detailed that active users represented 68.2 percent of the total acquired user base with a total of 7.4 million, while total transactions per month increased 7.7 percent during the quarter to reach an average of 50.7 million per month.
For its part, Coca-Cola Femsa reported revenues that totaled 63,803 million pesos, which meant an increase of 11.2 percent compared to the 57,357 million pesos reported from January to March 2023.
“Our first quarter results showed that we are maintaining the positive trend of last year, towards 2024. Most of our operations, including the two that contribute the most to our results, generated excellent numbers in all areas… we started 2024 with momentum and “We are working to advance each element of our strategy,” said José Antonio Fernández Carbajal, general director of Femsa.
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– 2024-04-27 10:35:03
