MEXICO CITY, MEXICO--(Marketwired - Apr 27, 2016) - Coca-Cola FEMSA, S.A.B. de C.V. (BMV: KOFL) (NYSE: KOF) ("Coca-Cola FEMSA" or the "Company"), the largest franchise bottler in the world, announces results for the first quarter of 2016.

Quarterly highlights

  • Comparable revenues grew 9.1% for the first quarter of 2016.
  • Comparable operating income grew 10.1% for the first quarter of 2016, with a margin expansion of 10 basis points.
  • Comparable operating cash flow grew 8.4% for the first quarter of 2016, reaching a margin of 18.8%.
  • Comparable earnings per share grew 10.9%, reaching Ps. 1.13 in the first quarter of 2016.
       
   First Quarter  
   as Reported    Comparable (1)  
    2016   D%     2016   D%  
Total revenues   37,097   7.9 %   34,615   9.1 %
Gross profit   16,915   7.3 %   15,855   8.6 %
Operating income   4,908   9.0 %   4,642   10.1 %
Operating cash flow (2)   7,031   10.6 %   6,516   8.4 %
Net income attributable to equity holders of the company   2,398   9.3 %   2,344   10.9 %
Earnings per share (3)   1.16         1.13      
Expressed in millions of Mexican pesos.                
(1) Comparable: with respect to a year over year comparison, the change in a given measure excluding the effects of (i) mergers, acquisitions and divestitures, (ii) translation effects resulting from exchange rate movements and (iii) the results of hyperinflationary economies in both periods. From our operations, only Venezuela qualifies as a hyperinflationary economy.  
(2) Operating cash flow = operating income + depreciation + amortization & other operative non-cash charges.            
(3) Quarterly & FY earnings / outstanding shares as of the end of period. Outstanding shares as of 1Q'16 were 2,072.9 million.      
   

Message from the Chief Executive Officer
 "Leveraging our pricing flexibility, together with our operating and financial discipline, we delivered a solid set of results across our markets to kick off the year. Our transactions continued to outperform volumes in key markets such as Mexico, Brazil, Colombia, and Argentina, and we protected our margins across most of our operations. Despite a tough economic and volatile currency environment, our comparable revenues and operating income increased by 9% and 10%, respectively, resulting in earnings per share growth of 11%.

"Among our highlights for the quarter, we generated double-digit top-line growth in Mexico and Colombia, driven by our solid volumes, transactions, and prices above inflation; we extended our track record of market share gains in Brazil, while continuing to deliver strong defensive margins; and we expanded Argentina's EBITDA margins by 280 basis points. Furthermore, our Philippines operation delivered accelerated volume and transaction growth and, most importantly, improved profitability.

"Looking forward, we have the right people, capabilities, and strategies to continue delivering value throughout our operations," said John Santa Maria, Chief Executive Officer of the Company.

Conference call information
 Our first quarter 2016 conference call will be held on April 27, 2016, 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.: 888-397-5352 or International: 719-325-2435. Participant code: 9731467. 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, the conference call audio will be available at www.coca-colafemsa.com.

About the Company

Stock listing information: Mexican Stock Exchange, Ticker: KOFL | NYSE (ADR), Ticker: KOF | Ratio of KOF L to KOF = 10:1

Coca-Cola FEMSA, S.A.B. de C.V. produces and distributes Coca-Cola, Fanta, Sprite, Del Valle, and other trademark beverages of The Coca-Cola Company in Mexico (a substantial part of central Mexico, including Mexico City, as well as southeast and northeast 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, the state of Paraná, part of the state of Goias, part of the state of Rio de Janeiro and part of the state of Minas Gerais), Argentina (federal capital of Buenos Aires and surrounding areas) and Philippines (nationwide), along with bottled water, juices, teas, isotonics, beer, and other beverages in some of these territories. The Company has 63 bottling facilities and serves more than 358 million consumers through 2,800,000 retailers with more than 100,000 employees worldwide.