Fomento Economico Mexicano (FEMSA), Coca-Cola bottler and owner of the Oxxo chain of stores, extended in the first quarter the good performance that its businesses showed during the previous three months, registering double-digit increases that exceeded expectations for the specialists.
Between January and March, its operating flow (EBITDA) rose 16% compared to the same period in 2021, while its revenues increased 18.6 percent.
In both cases, the data were higher than what was predicted by the Infosel consensus.
“We must remain attentive to inflation and pressures in supply chains, as well as the continuous evolution of events related to the pandemic,” Daniel Rodríguez Cofré, CEO of FEMSA, was quoted as saying in a statement.
“But overall, we are optimistic about our opportunities and our ability to capture them,” added the manager.
The combination of growth strategies and an improvement in demand in most of the markets where it has a presence, boosted its results, according to the manager.
Despite this, net income fell 6.6%, a more pronounced reduction compared to the same period in 2021.
At the close of trading, FEMSA’s shares fell 1.51% to 151.13 pesos each on the Mexican Stock Exchange.