Q1 2026 Fomento Economico Mexicano SAB de CV Earnings Call Transcript
Key Points
- OXO Mexico delivered 8.3% revenue growth, driven by strong same-store sales and effective promotional activities.
- The Americas and Mobility segment showed promising growth, with OXO operations in Colombia, Chile, and Peru achieving over 20% same-store sales growth in local currency.
- SPIN by OXO experienced significant growth, reaching 11 million active users and over 100 million monthly transactions, positioning it as a leading fintech in Mexico.
- Fomento Economico Mexicano SAB de CV's consolidated financial results showed a 6.1% increase in total revenues and a 5.5% growth in operating income year-over-year.
- The company successfully implemented cost restructuring initiatives, contributing to improved gross margins and operating income growth.
- Average traffic in OXO Mexico remained slightly negative, despite improvements compared to the previous year.
- The Health Division delivered lackluster results, with soft margins in Chile and continued losses in Mexico impacting overall performance.
- Currency headwinds due to a stronger peso negatively affected international operations' contributions to financial results.
- Net consolidated income, excluding a one-time non-cash gain, declined by 36.4% year-over-year, primarily due to higher net financing expenses.
- The institutional component of the health business in Colombia faced challenges due to funding gaps, affecting profitability and leading to a strategic reduction in exposure.
Hello, and to the FEMSA first quarter 2026 conference call. My name is Sofia, and I'll be your moderator for today's event. Please note that this conference is being recorded. (Operator Instructions)
I would now like to hand the call over to Mr. Jua Fonseca, Investor Relations Director at FEMSA. Please go ahead.
Good morning, everyone, and welcome to FEMSA's first quarter 2026 results conference call.
Today, we are joined by Jose Antonio Fernandez Garza, FEMSA's CEO, Martin Arias, our CFO.
And Jorge Collazo, who heads coca-cola Femsa's Investor Relations team.
The plan is for Jose Antonio to open the conversation with some high-level comments on the quarter's performance and trends, followed by Martin, who will provide more granular details on the results.
Finally, we will open the call for your questions. Jose Antonio, please go ahead.
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