From GlobeNewswire:

FEMSA announced its operational and financial results for the fourth quarter and full year of 2023. Total consolidated revenues grew by 4.6% compared to 4Q22. Spin by OXXO had 6.9 million active users, while Spin Premia had 19.3 million active users with an average tender of 31.0%. Coca-Cola FEMSA reported volume and total revenue growth of 6.1% and 8.1%, respectively, compared to 4Q22.

Proximidad Américas saw revenue growth of over 14%, driven by high single-digit comparable sales at OXXO and accelerated store expansion. FEMSA Salud had stable revenues, but business institutional dynamics in Colombia impacted profitability. Coca-Cola FEMSA reported solid results, and Digital@FEMSA continued to add users at a rapid pace.

FEMSA’s CEO mentioned solid fourth-quarter results but noted challenges in certain business units, particularly with rising labor costs in Mexico. Proximidad Américas, Europe, and other formats saw healthy growth. FEMSA provided additional information on its capital allocation framework, aiming to achieve targeted leverage within two to three years.

FEMSA will hold a conference call for the fourth quarter and full year 2023 on February 23, 2024. The call will discuss financial performance and future plans. FEMSA employs over 350,000 people across 18 countries and aims to create economic and social value in communities where it operates. The company is part of various sustainability indices evaluating its ESG performance.



Read more: FEMSA Anuncia Resultados del Cuarto Trimestre y Año