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MONTERREY, Mexico, April 28, 2025 (GLOBE NEWSWIRE) -- Fomento Económico Mexicano, S.A.B. de C.V. (“FEMSA”) (NYSE: FMX; BMV: FEMSAUBD, FEMSAUB) announced today its operational and financial results for the first quarter of 2025.
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FEMSA: Total Consolidated Revenues grew 11.1% and Income from Operations increased 4.9% compared to 1Q24.
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FEMSA Retail1: Proximity Americas total Revenues grew 6.8% and Income from operations decreased 11.8% versus 1Q24.
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SPIN: Spin by OXXO had 8.9 million active users2 representing 20.9% growth compared to 1Q24 while Spin Premia had 25.2 million active loyalty users2 representing 15.9% growth compared to 1Q24, and an average tender3 of 42.5% which increased from 35.1% tender in 1Q24.
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COCA-COLA FEMSA: Total Revenues and Income from Operations grew 10.0% and 7.4%, respectively against 1Q24.
| Financial Summary for the First Quarter 2025 | ||||
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| Total Revenues | Gross Profit | Income from | Same-Store Sales |
| As Reported | 1Q25 | 1Q25 | 1Q25 | 1Q25 |
| FEMSA Consolidated | 11.1% | 15.8% | 4.9% |
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| Proximity Americas | 6.8% | 10.0% | (11.8%) | (1.8%) |
| Proximity Europe | 18.0% | 14.8% | (14.6%) | N.A. |
| Health | 21.0% | 23.5% | 27.4% | 15.4% |
| Fuel | 1.8% | 4.4% | (13.9%) | 6.1% |
| Coca-Cola FEMSA | 10.0% | 12.0% | 7.4% |
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| Comparable(A) |
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| FEMSA Consolidated | 5.6% | 8.3% | 1.7% |
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| Proximity Americas | 1.4% | 7.2% | (11.0%) | (2.2%) |
| Proximity Europe | 0.9% | (1.9%) | (27.7%) | N.A. |
| Health | 7.0% | 8.7% | 11.7% | 3.5% |
| Fuel | 1.8% | 4.4% | (13.9%) | 6.1% |
| Coca-Cola FEMSA | 5.9% | 7.8% | 3.2% |
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José Antonio Fernandez Carbajal, FEMSA’s Chief Executive Officer, commented:
“During the first quarter, we were able to navigate a challenging environment and calendar across several markets, particularly in Mexico, taking advantage of our resilient, geographically diversified business platform, and our outstanding team. For example, Coca-Cola FEMSA leveraged solid volume performance and currency tailwinds in most of its South American markets to offset softer trends in Mexico, keeping them in a position to deliver a solid set of results for the quarter. We also saw promising performances from several of our international health retail operations, enhanced by favorable FX tailwinds as certain South American currencies strengthened against the Mexican peso.
At Proximity Americas, we had a slower start to the year. In many ways we were able to anticipate this, given the combination of an adverse calendar, a continued soft consumer environment, and a demanding comparison base, particularly at OXXO Mexico where these trends manifested themselves in the form of a decline in same-store traffic, that in turn put some pressure on the top line. We were able to mitigate this pressure with another strong showing at the gross margin level, however, we are also facing higher expenses that largely reflect increased labor costs. Accordingly, we have put in place or accelerated a broad array of top-line and cost-cutting initiatives to drive revenues and commercial income, and to mitigate the higher operating and overhead expenses.