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Fomento Económico Mexicano (FEMSAUBD) investor relations material
Fomento Económico Mexicano Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary28 Oct, 2025
Executive summary
Leadership transition underway, with José Antonio Fernández Garza-Laguera set to become CEO effective November 1, 2025, emphasizing strategic continuity and long-term value creation through the FEMSA Forward plan and a focus on core verticals: retail and beverages, enabled by digital initiatives.
Over the past 32 months, nearly $11 billion in non-core assets were divested, and a capital allocation framework was established to distribute $7.8 billion in dividends and buybacks from March 2024 to March 2027.
OXXO Mexico remains a growth engine, with at least a decade of store expansion potential, while international operations (Brazil, Colombia, Bara) and digital platforms (Spin by OXXO) are highlighted as key long-term value drivers.
The company is navigating a challenging macro environment in Mexico, but recent quarters show improving trends, especially in retail traffic and category performance.
Total consolidated revenues grew 9.1% and income from operations increased 4.3% year-over-year in 3Q25, with broad-based growth across business units and favorable currency effects, especially from Europe.
Financial highlights
3Q25 total revenues: Ps. 214,638 million (+9.1% YoY); gross profit: Ps. 85,709 million (+8.0% YoY); income from operations: Ps. 18,126 million (+4.3% YoY).
Net consolidated income fell 36.8% to $5.8 billion pesos, mainly due to a non-cash FX loss of $1.3 billion pesos versus a gain last year, linked to the appreciation of the Mexican peso.
Gross margin contracted 40 bps to 39.9%; operating margin contracted 40 bps to 8.4%.
Adjusted EBITDA rose 6.5% to Ps. 30,843 million; EBITDA margin was 14.4%.
Effective tax rate for the quarter was 29.3%, down from 42.2% and 40% in the first two quarters, with guidance for a mid-30% range going forward.
Outlook and guidance
Cautious optimism for 2026, with early signs of improvement in Mexico and expected tailwinds from the FIFA World Cup and Coca-Cola's 100th anniversary in Mexico.
Continued focus on tactical and strategic initiatives to drive traffic, category performance, and cost efficiencies.
Store expansion in Mexico and international markets (Brazil, Colombia, USA) expected to continue at a robust pace.
Explain the FX impact on consolidated net income.
Address OXXO Mexico's declining store traffic.
OXXO Brazil strategy post-Grupo Nós JV.
OXXO Mexico traffic recovery drivers?
KOF's role in FEMSA's future portfolio?
Spin's strategic path given banking license delay?
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Next Fomento Económico Mexicano earnings date
Q4 202527 Feb, 2026
Next Fomento Económico Mexicano earnings date
Q4 202527 Feb, 2026
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Frequently asked questions
Fomento Económico Mexicano S.A.B. de C.V. is a multinational company engaged in the retail, beverage, and logistics sectors. It operates convenience stores, bottling plants for Coca-Cola products, and logistics solutions across Latin America and the United States. The company is headquartered in Monterrey, Mexico, and its shares are listed on the BMV.
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