Q2 2025 Fomento Economico Mexicano SAB de CV Earnings Call Transcript
Key Points
- Fomento Economico Mexicano SAB de CV (FMX) reported a total revenue growth of 6.3% for the second quarter of 2025, driven by solid top-line trends outside Mexico and currency tailwinds.
- Spin by OXXO has achieved significant milestones, including creating over 14.5 million accounts, with more than 9.4 million active in the last 56 days.
- The Spin Premia rewards program has over 58 million spending accounts, with 26.6 million having transaction activity in the last 90 days.
- Proximity Americas division showed promising results outside Mexico, with OXXO LatAm same-store sales growing in the high teens.
- Valora in Europe delivered solid results with a 31.4% increase in total revenues in pesos, driven by strong performance in Switzerland.
- Operating income increased by only 0.2% year-over-year due to a challenging consumer environment in Mexico and inflationary effects on costs and expenses.
- Net consolidated income decreased by 64.3% to MXN5.6 billion, mainly due to a non-cash foreign exchange loss and lower interest income.
- Same-store sales in Mexico declined modestly by 0.4%, with weaker traffic offsetting a solid average ticket growth.
- The Health division faced challenges in Mexico, with same-store sales declines and the closure of 432 underperforming stores.
- Coca-Cola FEMSA experienced a decline in volumes by nearly 10% in Mexico and Central America due to adverse weather conditions and a tougher demand environment.
Good day, ladies and gentlemen, and welcome to FEMSA's second quarter 2025 results conference call. Please note that this event is being recorded. (Operator Instructions)
I will now turn the call over to your host for today, Juan Fonseca, Investor Relations. You may begin, sir.
Thank you. Good morning, everyone. Welcome to FEMSA's second quarter 2025 results conference call. Today, we are joined by Juan Carlos Guillermety, CEO of Spin, formerly Digital FEMSA; Martin Arias, our CFO; and Jorge Collazo who heads the Coca-Cola FEMSA's Investor Relations team.
This is the first time Juan Carlos joins us for a quarterly conference call as part of our ongoing efforts to provide more market access to our leadership team. The plan for today is for Juan Carlos to open the conversation with some background on Spin, followed by a strategic discussion on where we are today in our digital endeavor. And just as importantly, where he sees spend going in the future.
After his
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