MEXICO CITY--(Marketwire - October 21, 2010) - Coca-Cola FEMSA, S.A.B. de C.V. (
- Total revenues reached Ps. 25,675 million in the third quarter of 2010, a decrease of 1.3% compared to the third quarter of 2009 mainly as a result of the devaluation of the Venezuelan bolivar, which was partially compensated by double-digit total revenue growth in our Mercosur division and a low single-digit total revenue growth in our Mexico division. On a currency neutral basis, total revenues grew approximately 13%.
- Consolidated operating income grew 7.3% to Ps. 4,249 million for the third quarter of 2010, driven by double-digit operating income growth recorded in our Mercosur division. Our operating margin was 16.5% in the third quarter of 2010.
- Consolidated net controlling interest income remained stable reaching Ps. 2,126 million in the third quarter of 2010, resulting in earnings per share of Ps. 1.15 in the third quarter of 2010.
"Our increased profitability for the quarter highlights the benefits of our balanced, geographically diversified portfolio of franchise territories. Despite tough weather conditions in our Mexico and Latincentro divisions, strong performance from our Brazilian franchise, in combination with our pricing initiatives across our territories, drove our local currency top-line growth for the quarter. We are pleased to have successfully integrated the 'Matte Leao' product line in Brazil, adding a strong brand in the tea category to our portfolio. This not only satisfies our consumers' preferences, but also reinforces the non-carbonated beverage platform that we operate together with our partner, The Coca-Cola Company, and the rest of the Brazilian Coca-Cola system. The financial flexibility we have achieved over the past several years demonstrates our ability to operate our business in challenging environments. As we continue to analyze the opportunities in the beverage industry, we will maintain our disciplined and efficient efforts to grow our business both organically and through acquisitions that create value for our shareholders," said Carlos Salazar Lomelin, Chief Executive Officer of the Company.
CONFERENCE CALL INFORMATION
Our third-quarter 2010 Conference Call will be held on: October 21, 2010, at 11:00 A.M. Eastern Time (10:00 A.M. Mexico City Time). To participate in the conference call, please dial: Domestic U.S.: 866-700-7477 or International: 617-213-8840. We invite investors to listen to the live audiocast of the conference call on the Company's website, www.coca-colafemsa.com
If you are unable to participate live, an instant replay of the conference call will be available through October 28, 2010. To listen to the replay, please dial: Domestic U.S.: 888-286-8010 or International: 617-801-6888. Pass code: 96651005.
Coca-Cola FEMSA, S.A.B. de C.V. produces and distributes Coca-Cola, Sprite, Fanta, Lift and other trademark beverages of The Coca-Cola Company in Mexico (a substantial part of central Mexico, including Mexico City and southeast Mexico), Guatemala (Guatemala City and surrounding areas), Nicaragua (nationwide), Costa Rica (nationwide), Panama (nationwide), Colombia (most of the country), Venezuela (nationwide), Brazil (greater São Paulo, Campiñas, Santos, the state of Mato Grosso do Sul, part of the state of Goias and part of the state of Minas Gerais) and Argentina (federal capital of Buenos Aires and surrounding areas), along with bottled water, beer and other beverages in some of these territories. The Company has 31 bottling facilities in Latin America and serves over 1,500,000 retailers in the region. The Coca-Cola Company owns a 31.6% equity interest in Coca-Cola FEMSA.
Please click on this link to view the full version of the Press Release on our Web Site
http://www.coca-colafemsa.com
Contact Information:
Contact:
Roland Karig
(5255) 5081-5186