Fomento Económico Mexicano, S.A.B. de C.V. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023
February 23, 2024 at 08:10 am EST
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Fomento Económico Mexicano, S.A.B. de C.V. reported earnings results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, the company reported sales was MXN 189,825 million compared to MXN 181,454 million a year ago. Net income was MXN 3,267 million compared to MXN 3,969 million a year ago.
For the full year, sales was MXN 702,692 million compared to MXN 597,008 million a year ago. Net income was MXN 66,390 million compared to MXN 23,909 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. 
