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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.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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