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Coca-Cola FEMSA (KOF) investor relations material

Coca-Cola FEMSA Q3 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q3 2025 earnings summary24 Oct, 2025

Executive summary

  • Consolidated volume declined 0.6% to 1.04 billion unit cases, a sequential improvement, with Mexico and Panama contracting but offset by growth elsewhere; South America showed resilient performance and margin protection through expense control and efficiency initiatives.

  • Total revenues grew 3.3% to MXN 71.9 billion, led by revenue management, despite volume decline and currency headwinds.

  • Operating income rose 6.8% to MXN 10.3 billion, with margin expansion due to expense efficiencies and FX gains.

  • Adjusted EBITDA increased 3.2% to MXN 14.4 billion; EBITDA margin flat at 20.1%.

  • Over 60% of the client base are now digital monthly active buyers, reflecting ongoing digital transformation.

Financial highlights

  • Gross profit up 0.9% to MXN 32.4 billion; gross margin contracted 100 bps to 45.1%.

  • Operating margin expanded 50 bps to 14.3%.

  • One-time income of MXN 218 million from insurance claims in Brazil recognized.

  • Comprehensive financial results showed an expense of MXN 1.2 billion, up from MXN 823 million YoY, due to lower interest income and FX losses.

  • Earnings per share for the quarter were Ps. 0.35.

Outlook and guidance

  • Expect low to mid-single-digit volume decline in Mexico in 2026 due to excise tax increase and soft macro; management to focus on sustainable growth, revenue management, affordability, productivity, and cost control.

  • Anticipate positive brand equity impact from the 2026 World Cup.

  • CapEx investments in Mexico delayed, with some projects pushed out two years due to expected volume contraction.

  • Cost control, productivity, and RGM initiatives to address short-term headwinds.

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Frequently asked questions

Coca-Cola FEMSA S.A.B. de C.V. is the largest franchise bottler of Coca-Cola products in the world by volume. The company produces, markets, and distributes a variety of non-alcoholic beverages, including soft drinks, juices, and bottled water, under the Coca-Cola brand. Operating across several countries in Latin America and parts of Southeast Asia, Coca-Cola FEMSA serves retailers, wholesalers, and other commercial customers. In addition to its Coca-Cola portfolio, the company distributes beverages under other brand agreements within its territories. The company is headquartered in Mexico City, Mexico, and its shares are listed on the BMV.

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