Coca Cola Femsa (Kof) reported that during the last quarter of last year, its net sales reached 75 billion 528 million pesos (mdp), an increase of 14.3% compared to the same period the previous year, when they stood at 66 billion 78 mdp. On the other hand, its operating cash flow was 16 billion 104 mdp, showing an annual increase of 22.5%.
The company attributed the increase in its income mainly to volume growth, its revenue management initiatives, and favorable mix effects. Excluding currency conversion effects, total revenue showed an increase of 13%. According to Kof, the volume increased by 2.2%, reaching 1 billion 79.1 million unit cases, driven by volume growth in most of its territories, with Brazil, Mexico, and Guatemala leading the way.
Kof indicated that the net profit attributable to the controlling interest was 7 billion 286 mdp, a 35% increase compared to the same period last year. This growth was primarily driven by the increase in operating profit, along with a decrease in its comprehensive financing result.
Ian Craig, the company's CEO, stated: "2024 marks the second chapter of our transformation. They are making Kof a highly adaptable organization to changing environments." Craig highlighted that they deployed a record amount of Capex last year, mainly focused on expanding production and distribution capacity while strengthening their culture across all operations.
Regarding new initiatives, Craig reported progress on the digital front, with the development of Juntos+, their B2B omnichannel platform, and the implementation of advanced artificial intelligence (AI) tools. The platform already has 1.3 million active users throughout Latin America, with more than 1.1 million users subscribed to its loyalty plan Juntos+ Premia. Additionally, they implemented a new tool for the sales force in Brazil, Juntos+ Advisor, which employs advanced AI models to enhance the sales force's capabilities and customer experience.
