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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