Fomento Económico Mexicano, S.A.B. De C.V. Reports Earnings Results for the First Quarter Ended March 31, 2020
April 30, 2020 at 09:21 am EDT
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Fomento Económico Mexicano, S.A.B. De C.V. Announced earnings results for the first quarter ended March 31, 2020. For the first quarter, the company announced sales was MXN 122,284 million compared to MXN 115,938 million a year ago. Operating income was MXN 9,518 million compared to MXN 8,978 million a year ago. Net income was MXN 7,787 million compared to MXN 2,233 million a year ago.
Fomento Economico Mexicano, S.A.B. de C.V. (FEMSA) is a holding company. The Company's segments are Coca-Cola FEMSA, FEMSA Comercio-Retail Division and FEMSA Comercio-Fuel Division. The Company conducts its operations through holding companies, such as Coca-Cola FEMSA, S.A.B. de C.V. and subsidiaries (Coca-Cola FEMSA), which produces, distributes and sells beverages; FEMSA Comercio, S.A. de C.V. and subsidiaries (FEMSA Comercio), which consists of a Retail Division operating various small-format chain stores, and CB Equity LLP, which holds its equity investment in Heineken N.V., and Heineken Holding N.V. The Company's Coca-Cola FEMSA produces, markets, sells and distributes Coca-Cola trademark beverages through standard bottler agreements in certain territories in the countries, in which it operates. Coca-Cola FEMSA also sells bottled water products. FEMSA participates in the retail sector primarily through FEMSA Comercio.
FOMENTO ECONÓMICO MEXICANO, S.A.B. DE C.V. 
