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As of 8:10 PM 12/22/14 All times are local (Market data is delayed by at least 15 minutes).

fomento economico mexica-ubd (FMXUF) Key Developments

Fomento Económico Mexicano, S.A.B de C.V Announces Executive Changes

Fomento Económico Mexicano, S.A.B de C.V (FEMSA) announced that Federico Reyes, FEMSA’s Vice President of Corporate Development for the past nine years, will retire on April 1, 2015. Federico will remain on the boards of directors and Finance Committees of FEMSA and Coca-Cola FEMSA. Javier Astaburuaga, FEMSA’s Chief Financial and Corporate Officer for the past nine years, will replace Federico as Vice President of Corporate Development. From his new position Javier will be closely involved in FEMSA’s strategic and M&A-related processes, and he will also continue to serve on the boards of directors of FEMSA and Coca-Cola FEMSA, as well as that of Heineken. Effective January 1, 2015, Daniel Rodríguez Cofré will join FEMSA and on April 1, he will replace Javier Astaburuaga as Chief Financial and Corporate Officer. Born in Chile, Daniel has a long track record in senior finance and management positions in Latin America and Europe, having served as CFO of Shell South America as well as Global CFO of one of Shell’s operating divisions. For the past six years Daniel has been Chief Executive Officer of CENCOSUD. He brings with him extensive experience and management skills and constitutes a valuable addition to FEMSA’s senior talent pool.

Fomento Económico Mexicano, S.A.B de C.V Presents at UBS Global Emerging Markets One-on-One Conference, Dec-02-2014

Fomento Económico Mexicano, S.A.B de C.V Presents at UBS Global Emerging Markets One-on-One Conference, Dec-02-2014 . Venue: The Westin New York Grand Central, 212 East 42nd Street at 3rd Avenue, New York, New York, United States.

Fomento Económico Mexicano, S.A.B de C.V Reports Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014

Fomento Económico Mexicano, S.A.B de C.V reported consolidated earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, total revenues increased 13.2% to MXN 72,391 million compared to MXN 63,977 million a year ago and income from operations grew 15.8% to MXN 8,323 million compared to MXN 7,187 million in the third quarter of 2013, reflecting growth at FEMSA Comercio and Coca-Cola FEMSA. On an organic basis total revenues and income from operations increased 7.9% and 10.8%, respectively. EBITDA was MXN 11,412 million compared to MXN 9,646 million a year ago. Capital expenditures were MXN 4,857 million compared to MXN 5,360 million a year ago. Net income increased 10.0% compared to third quarter of 2013 to MXN 6.717 billion, mainly as a result of the growth in income from operations combined with a lower income tax rate that compensated for higher financing expenses related to bonds issued recently by Coca-Cola FEMSA. For the nine months, the company reported total revenues of MXN 208,782 million compared to MXN 184,617 million a year ago. Income from operations was MXN 22,362 million compared to MXN 19,816 million a year ago. EBITDA was MXN 31,590 million compared to MXN 26,944 million a year ago. Capital expenditures were MXN 11,969 million compared to MXN 12,269 million a year ago. Net income decreased 1.2% to MXN 15.037 billion compared to the same period of 2013, reflecting higher financing expenses related to bonds issued recently by Coca-Cola FEMSA and FEMSA, which was partially compensated by the growth in income from operations.

Fomento Económico Mexicano, S.A.B de C.V to Report Q3, 2014 Results on Oct 28, 2014

Fomento Económico Mexicano, S.A.B de C.V announced that they will report Q3, 2014 results at 12:00 PM, US Eastern Standard Time on Oct 28, 2014

Fomento Económico Mexicano, S.A.B de C.V, Q3 2014 Earnings Call, Oct 28, 2014

Fomento Económico Mexicano, S.A.B de C.V, Q3 2014 Earnings Call, Oct 28, 2014

 

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