The following is a summary of the Coca-Cola FEMSA, S.A.B. De C.V. (KOF) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Coca-Cola FEMSA's volumes increased by 7.3% year-on-year, surpassing 1 billion unit cases.

• Total revenues for the quarter soared by 11.2% to reach MXN63.8 billion, propelled by a solid volume growth.

• Gross profit elevated by 11.7% to MXN28.4 billion, leading to a slight margin expansion of 20 basis points to 44.6%.

• Growth of 11.6% in operating income noted, reaching MXN8.6 billion.

• An increase of 13.5% in adjusted EBITDA for the quarter was reported, reaching MXN11.9 billion.

• Majority net income swelled by 27.8% to reach MXN5 billion, the increase was driven by the rise in operating income and a decline in comprehensive financing results.

Business Progress:

• The company is set to focus on key drivers like enhancing growth of core business, deploying advanced AA capabilities (Juntos+ Version 4.0), and fortifying a customer-centric and psychologically safe culture.

• Marked progress in the roll-out of the Juntos+ App Version 4.0 in regions like Mexico and Brazil increased active buyers and digitally placed orders.

• Reinvestment in the business to support growing market demand is prioritized, utilizing excess cash for capacity building.

• Strong financial performance anticipated in regions like Guatemala, indicating successful market penetration.

• Focus on capacity building to meet increasing demand and ambitious integration of AI capabilities, indicating a robust digital strategy and business expansion.

• Deployment of a new sales force automation engine is underway, to optimize physical sales force operations in Brazil.

More details: Coca-Cola FEMSA IR

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