ANNUAL REPORT 2018

FINANCIAL SUMMARY

Amounts expressed in millions of Mexican pesos (Ps.)
as of December 31, 2018

Income Statement 2018 2017 2016 2015 2014
Net sales   Ps. 468,894   Ps. 439,239   Ps. 398,622   Ps. 310,849   Ps. 262,779
Total revenues   469,744   439,932   399,507   311,589   263,449
Cost of goods sold   294,574   277,842   251,303   188,410   153,278
Gross profit   175,170   162,090   148,204   123,179   110,171
Operating expenses   133,594   121,828   110,777   89,444   80,188
Income from operations (1)   41,576   40,262   37,427   33,735   29,983
Other non-operating expenses (income), net   874   1,285   4,208   954   (508)
Financing expenses, net   7,380   3,302   4,619   7,618   6,988
Income before income taxes and share of the profit of equity accounted investees   33,322   35,674   28,600   25,163   23,503
Income taxes   10,169   10,213   7,888   7,932   6,253
Share of the profit of equity accounted investees, net of taxes   6,560   8,021   6,463   6,045   5,380
Net income from continuing operations   29,713   33,480   27,175   23,276   22,630
Net income from discontinuing operations(9)   3,366   3,726   -   -   -
Consolidated net income   33,079   37,206   27,175   23,276   22,630
Controlling Interest   23,990   42,408   21,140   17,683   16,701
Non-Controlling Interest   9,089   (5,202)   6,035   5,593   5,929
Ratios to total revenues (%)                    
Gross margin   37.3%   36.8%   37.1%   39.5%   41.8%
Operating margin   8.9%   9.2%   9.4%   10.8%   11.4%
Consolidated net income   6.3%   7.6%   6.8%   7.5%   8.6%
Other information                    
Depreciation   14,698   13,799   12,076   9,761   9,029
Amortization and other non cash charges to income from operations   4,184   4,104   5,484   3,130   1,933
Operative Cash Flow (EBITDA)   60,458   58,165   54,987   46,626   40,945
Capital expenditures (2)   24,266   23,486   22,155   18,885   18,163

 

Balance Sheet 2018 2017 2016 2015 2014
Assets                    
Current assets   177,607   181,188   117,951   86,723   79,112
Equity accounted investees   94,315   96,097   128,601   111,731   102,159
Property, plant and equipment, net (3)   108,602   116,712   102,223   80,296   75,629
Intangible assets,net   145,610   154,093   153,268   108,341   101,527
Other assets, net   50,247   40,451   43,580   22,241   17,746
Total assets   588,541   545,623   409,332   376,173   359,192
Liabilities                    
Short-term bank loans and current portion of longterm bank loans and notes payable   13,674   13,590   7,281   5,895   1,553
Other current liabilities   87,790   91,432   79,008   59,451   47,766
Long-term bank loans and notes payable   114,990   117,758   131,967   85,969   82,935
Employee benefits   4,699   5,373   4,447   4,229   4,207
Deferred tax liabilities   5,886   6,133   11,037   6,230   3,643
Other non-current liabilities   13,800   17,343   25,713   5,702   5,947
Total liabilites   240,839   251,629   259,453   167,476   146,051
Total equity   335,542   336,912   286,170   241,856   230,122
Controlling interest   257,053   250,291   211,904   181,524   170,473
Non-controlling interest   78,489   86,621   74,266   60,332   59,649
Financial ratios (%)                    
Liquidity   1.750   1.725   1.367   1.327   1.604
Leverage   0.718   0.747   0.907   0.692   0.635
Capitalization   0.29   0.29   0.33   0.28   0.27
Data per share                    
Controlling interest book value (4)   14.368   13.990   11.844   10.146   9.528 9
Net controlling interest income (5)   1.341   2.370   1.182   0.988   0.933
Dividends paid (6)                    
Series B shares   0.460   0.431   0.417   0.366   0.000
Series D shares   0.575   0.538   0.521   0.458   0.000
Number of employees (7)   297,073   295,027   266,144   246,158   216,740
Number of outstanding shares (8)   17,891.13   17,891.13   17,891.13   17,891.13   17,891.13

 

1. 
Company’s key performance indicator.
2. 
Includes investments in property, plant and equipment, as well as deferred charges and intangible assets.
3. 
Includes bottles and cases.
4. 
Controlling interest divided by the total number of shares outstanding at the end of each year.
5. 
Net controlling interest income divided by the total number of shares outstanding at the end of the each year.
6. 
Expressed in nominal pesos of each year.
7. 
Includes incremental employees resulting from mergers & acquisitions made during the year.
8. 
Total number of shares outstanding at the end of each year expressed in millions.
9. 
The consolidated income statement of 2017 was revised to reflect the discontinued operations of Coca-Cola FEMSA Philippines.