FINANCIAL
summary
Millions of Mexican pesos and U.S. dollars as of December 31, 2017 (except per share and headcount data).
U.S. (*) | 2017 3,4 | 2016 2 | 2015 | 2014 | 2013 1 | |
---|---|---|---|---|---|---|
INCOME STATEMENT | ||||||
Total revenues | 10,376 | 203,780 | 177,718 | 152,360 | 147,298 | 156,011 |
Cost of goods solds | 5,708 | 112,094 | 98,056 | 80,330 | 78,916 | 83,076 |
Gross profit | 4,668 | 91,686 | 79,662 | 72,030 | 68,382 | 72,935 |
Operative expenses | 3,305 | 64,910 | 55,462 | 48,284 | 46,850 | 51,315 |
Other expenses, net | 1,459 | 28,661 | 3,812 | 1,748 | 158 | 623 |
Comprehensive financing result | 269 | 5,276 | 6,080 | 7,273 | 6,422 | 3,773 |
Income before income taxes and share of the profit or of associates and joint ventures accounted for using the equity method | (365) | (7,161) | 14,308 | 14,725 | 14,952 | 17,224 |
Income taxes | 232 | 4,554 | 3,928 | 4,551 | 3,861 | 5,731 |
Share of the profit of associates and joint ventures accounted for using the equity method, net of taxes | 3 | 60 | 147 | 155 | (125) | 289 |
Consolidated net income5 | (594) | (11,654) | 10,527 | 10,329 | 10,966 | 11,782 |
Equity holders of the parent | (652) | (12,802) | 10,070 | 10,235 | 10,542 | 11,543 |
Non-controlling interest net income | 58 | 1,148 | 457 | 94 | 424 | 239 |
RATIOS TO REVENUES (%) | ||||||
Gross margin | 45.0 | 45.0 | 44.8 | 47.3 | 46.4 | 46.7 |
Net income margin | (5.7) | (5.7) | 5.9 | 6.8 | 7.4 | 7.6 |
CASH FLOW | ||||||
Operative cash flow | 1,692 | 33,236 | 32,446 | 23,202 | 24,406 | 22,097 |
Capital expenditures6 | 744 | 14,612 | 12,391 | 11,484 | 11,313 | 11,703 |
Total cash, cash equivalents | 956 | 18,767 | 10,476 | 15,989 | 12,958 | 15,306 |
BALANCE SHEET | ||||||
Current assets | 2,834 | 55,657 | 45,453 | 42,232 | 38,128 | 43,231 |
Investment in shares | 639 | 12,540 | 22,357 | 17,873 | 17,326 | 16,767 |
Property, plant and equipment, net | 3,861 | 75,827 | 65,288 | 50,532 | 50,527 | 51,785 |
Intangible assets, net | 6,326 | 124,243 | 123,964 | 90,754 | 97,024 | 98,974 |
Deferred charges and other assets, net | 887 | 17,410 | 22,194 | 8,858 | 9,361 | 5,908 |
Total Assets | 14,547 | 285,677 | 279,256 | 210,249 | 212,366 | 216,665 |
Liabilities | ||||||
Short-term bank loans and notes payable | 620 | 12,171 | 3,052 | 3,470 | 1,206 | 3,586 |
Interest payable | 25 | 487 | 520 | 411 | 371 | 324 |
Other current liabilities | 2,188 | 42,936 | 36,296 | 26,599 | 26,826 | 28,488 |
Long-term bank loans and notes payable | 3,625 | 71,189 | 85,857 | 63,260 | 64,821 | 56,875 |
Other long-term liabilities | 924 | 18,184 | 24,298 | 7,774 | 9,024 | 10,239 |
Total Liabilities | 7,382 | 144,968 | 150,023 | 101,514 | 102,248 | 99,512 |
Equity | 7,165 | 140,710 | 129,233 | 108,735 | 110,118 | 117,153 |
Non-controlling interest in consolidated subsidiaries | 924 | 18,141 | 7,096 | 3,986 | 4,401 | 4,042 |
Equity attributable to equity holders of the parent | 6,241 | 122,568 | 122,137 | 104,749 | 105,717 | 113,111 |
FINANCIAL RATIOS (%) | ||||||
Current | 1.00 | 1.00 | 1.14 | 1.39 | 1.34 | 1.33 |
Leverage | 1.03 | 1.03 | 1.16 | 0.93 | 0.93 | 0.85 |
Capitalization | 0.39 | 0.39 | 0.41 | 0.39 | 0.38 | 0.35 |
Coverage | 4.20 | 4.20 | 4.80 | 3.92 | 4.72 | 8.22 |
DATA PER SHARE | ||||||
Book Value7 | 2.971 | 58.343 | 58.920 | 50.532 | 50.999 | 54.566 |
Income tributable to the holders of the parent5,8 | (0.312) | (6.121) | 4.858 | 4.937 | 5.086 | 5.614 |
Dividends paid9 | 0.171 | 3.35 | 3.350 | 3.090 | 2.900 | 2.870 |
Headcount10 | 101,682 | 101,682 | 85,140 | 83,712 | 83,371 | 84,922 |
1 | Information considers full-year of KOF’s territories and seven months of Grupo Yoli, S.A de C.V. (Grupo YOLI), four months of Companhia Fluminense de Refrigerantes (Compañía Fluminense) and two months of SPAIPA S.A. Industria Brasileira de Bebidas (SPAIPA) |
2 | Information considers full-year of KOF’s territories and one month of Vonpar Refrescos, S.A. (“Vonpar”). |
3 | Income statement information considers full-year of KOF’s territories, eleven months of Coca Cola FEMSA Philippines and full-year of Coca Cola FEMSA Venezuela. |
4 | Balance sheet information does not include Coca Cola FEMSA Venezuela’s balance due to deconsolidation as of December 31, 2017. Venezuela balance is included as investement in shares as of December 31, 2017. |
5 | As of December 31, 2017, the Company changed the method for reporting Coca-Cola FEMSA de Venezuela to Fair Value. Due to this change, a recorded foreign currency translation charge in equity has been reclassified as a non-cash one-time item to the other non-operative expenses line of the Income Statement in accordance with IFRS. |
6 | Includes investments in property, plant and equipment, refrigeration equipment and returnable bottles and cases, net of disposals of property, plant and equipment. |
7 | Based on 2,100.83 million ordinary shares as of December 31, 2017, and 2,072.92 million ordinary shares as of December 31,2016, 2015, 2014 and 2013. |
8 | Computed based on the weighted average number of shares outstanding during the periods presented: 2,091.35 million on 2017 and 2,072.92 million on 2016, 2015, 2014 and 2,056.20 million on 2013. |
9 | Dividends paid during the year based on the prior year’s net income, using 2,072.92 million oustanding ordinary shares for paid on 2017, 2016, 2015, 2014 and 2,030.54 million oustanding ordinary shares for paid on 2013. |
10 | Includes third-party. Including Coca Cola FEMSA Philippines as of 2017. |
* | Exchange rate as of December 31st, 2017, Ps 19.6395 per U.S. dollar, solely for the convenience of the reader. |