Covering the Mexican Economy, Actinver Research

Actinver

Covering the Mexican Economy

Actinver Research

Actinver is a mexican leading financial group, that generates well being for individuals and companies through advisory services that provides investment management to maintain and grow their wealth.

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Fomento Economico Mexica-Ubd / Equity Bottom-Up

<ul><li>Sales grew 8.3% YoY to P$196.8bn, slightly (0.9%) above our estimates, with Proximity Americas and Fuel sales below our estimates, while other segments outperformed and posted a better sales trend.</li><li>While FX tailwinds supported growth, Proximity Americas posted a lackluster flattish SSS performance, with growth in average ticket offset by a contraction in average traffic amid adverse weather in Mexico and a tough comp base.</li><li>Unit growth was better than expected with 328 net additions during the quarter, yet segment sales still grew below our estimates at 4.8% YoY.</li></ul>

Sales grew 8.3% YoY to P$196.8bn, slightly (0.9%) above our estimates, with Proximity Americas and Fuel sales below our estimates, while other segments outperformed and posted a better sales trend.While FX tailwinds supported growth, Proximity Americas posted a lackluster flattish SSS performance, with growth in average ticket offset by a contraction in average traffic amid adverse weather in Mexico and a tough comp base.Unit growth was better than expected with 328 net additions during the quarter, yet segment sales still grew below our estimates at 4.8% YoY.

Duplicate of Actinver Research - FEMSA 3Q24: Mixed results amid margin expansion but sluggish OXXO SSS (Quick View)

Mexico

Fomento Economico Mexicano, S.A.B. de C.V. (FEMSA) is a Company that through its subsidiaries produces, distributes and markets non-alcoholic beverages throughout Latin America as part of the Coca-Cola system. The Company owns and operates convenience stores in Mexico and Colombia and holds a stake in Heineken.

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Fomento Economico Mexicano SAB (FMX US)

Duplicate of Actinver Research - FEMSA 3Q24: Mixed results amid margin expansion but sluggish OXXO SSS (Quick View)

Sales grew 8.3% YoY to P$196.8bn, slightly (0.9%) above our estimates, with Proximity Americas and Fuel sales below our estimates, while other...

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