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Questcoca-Cola FEMSA our permanent questCoca-Cola FEMSA ANNUAL REPORT 2013 Throughout our company’s 35-year history, we have embraced every opportunity to build a consumer-driven business that goes beyond the production, distribution, and sale of the world’s most beloved brand. Our permanent quest begins with the continuing growth and development of our people. Together, their shared skills and capabilities are the most important ingredients in our company’s success as a flexible, dynamic organization–relentlessly focused on excellence throughout our operations. strategic framework To maximize our operating potential As the complexity and demands of our business grow, we are on a permanent quest to maximize our operations’ capability to achieve the full potential of our business, success- fully transform our indus- try’s challenges into opportu- nities, serve our expanding base of consumers more efficiently and effectively, and prepare our company for the future. For sustainable development We embrace a holistic approach to sustainable development. Focused on three core areas—our people, our community, and our planet—our vision is to ensure the sustainability of our business by positively transforming our communities through the simultaneous creation of economic, social, and environmental value. For innovation Innovation is key to our strategic growth and development. Through our permanent quest for innovation, we ensure our ability to anticipate and satisfy consumers’ evolving needs, adapt to ever-changing market dynamics, and capitalize on new business opportunities. To capture market opportunities Over the past several years, we have demonstrated our capacity to identify and embrace new ways of complementing our business’ organic growth through our permanent quest to capture value- creating market opportunities—from accretive mergers and acquisitions to joint ventures. Two decades of growth as a public company Installation of first four lines in the Toluca plant in Mexico Acquisition of Panamco extended KOF’s geograph- ic footprint to 9 countries in Latin America Launch of 2.5-liter Expansion of our returnable PET portfolio with presentation for the Hi-C brand in Central America Acquisition of a ma- Coca-Cola in Mexico jority equity stake in the Buenos Aires operation Appointment of Acquisition of the Carlos Salazar as remaining equity CEO of Coca-Cola Initial public offering stake of the Buenos FEMSA of Coca-Cola FEMSA Aires operation in the Mexican and U.S. stock markets Introduction of handhelds and pre- sale in more Construction of one than 90% of of the largest PET the routes recycling plants in in Mexico and the world in part- Buenos Aires nership with The Coca-Cola Company and ALPLA Acquisition of Matte Leão in partnership with The Coca-Cola Company Integration of Santa Clara in Mexico through Jugos del Valle Acquisition of Fluminense and Acquisition of the Spaipa franchises Brisa water business in Brazil in Colombia together with The Coca-Cola Company Launch of FUZE tea across Latin America Launch of Coca-Cola Zero in Argentina, Mexico, and Brazil Acquisition of Estrella Azul in Panama together with The Coca-Cola Company Acquisition of 51% of Coca-Cola Bottlers Inclusion of Philippines, Inc. Coca-Cola FEMSA Acquisition of Jugos in the BMV del Valle in partner- Sustainability Index ship with The Coca-Cola Company Mergers of Grupo Acquisition of Tampico, Grupo Merger of Refrigerantes Minas CIMSA, and Grupo Grupo Yoli in Gerais in Brazil Fomento Queretano Mexico in Mexico Financial highlights Millions of Mexican pesos and U.S. dollars as of December 31, 2013 (except volume and per share data) Under International Financial Reporting Standards. Figures do not include results of Coca-Cola Bottlers Philippines, Inc. (U.S.$) 2013 (1) (Ps.) 2013 (Ps.) 2012 % change Sales Volume (million unit cases) 3,204.6 3,204.6 3,046.2 5.2% Total Revenues 11,911 156,011 147,739 5.6% Income from Operations 1,638 21,450 21,956 -2.3% Controlling Interest Net Income 882 11,543 13,333 -13.4% Total Assets 16,542 216,665 166,103 30.4% Long-Term Bank Loans and Notes Payable 4,342 56,875 24,775 129.6% Controlling Interest 8,636 113,111 101,649 11.3% Capital Expenditures 893 11,703 10,259 14.1% Book Value per Share (2) 4.17 54.57 50.06 9.0% Controlling Interest Earnings per Share (3) 0.43 5.61 6.62 -15.3% (1) U.S. dollar figures are converted from Mexican pesos using the exchange rate for Mexican pesos published by the U.S. Federal Re- serve Board on December 31, 2013, which exchange rate was Ps. 13.0980 to U.S.$1.00. (2) Based on 2,072.9 and 2,030.5 million outstanding ordinary shares in 2013 and 2012, respectively. (3) Based on 2,056.0 and 2,015.2 million weighted average outstanding ordinary shares in 2013 and 2012, respectively. Financial highlights Sales Volume Total Revenues Million unit cases Billions of Mexican pesos 3,046 3,205 147.7 156.0 123.2 2,499 2,649 103.5 2,429 102.8 2009 2010 2011 2012 2013 2009 2010 2011 2012 2013 Income from Operations Dividend per Share Billions of Mexican pesos Mexican pesos 22.0 18.4 21.5 2.77 2.90 17.0 15.8 2.36 1.41 0.73 2009 2010 2011 2012 2013 2009 2010 2011 2012 2013 Income from operations for the years 2009 and 2010 presents figures under Mexican Financial Reporting Standards. Dear shareholders the face of a tough con- Our Permanent Quest 3,500 large gold customers in In sumer and volatile currency to Maximize Our Operating Mexico to maximize the display environment, we continued with Potential of our wide variety of SKUs, our permanent quest to realize As the complexity of our business contributing to an 8% jump in the full potential of our business, grows, we are on a permanent their sales of our beverages for developed innovative ways to quest to maximize our operations’ the year. Moreover, in Brazil, we anticipate and satisfy our con- capacity to achieve the full poten- simplified the picture of success sumers’ ever-changing needs, tial of our business, while preparing of our clients from more than complemented our organic our company for the future. 100 different execution options growth through value-creating to 17, while strengthening our mergers and acquisi- Aligned with our framework merchandizing capacity in the tions, and created eco- for growth, our Strategic Talent traditional sales channel, to sig- nomic, social, and envi- Management Model is designed nificantly improve our point-of- ronmental value for all to enable our company to reach sale execution. of our stakeholders. its full potential by developing the capabilities for our employees and Operationally, we remained at Despite a difficult executives to take our organi- the forefront of technology. operating landscape, zation to the next level. From From high-speed tri-block bot- our committed team individual development agendas, tling lines, to vertical warehouse of employees delivered to training cells, to onsite and automation, to tetra-cogen- mid-single-digit top- online courses, this holistic model eration systems in our plants line growth. For 2013, works to build the skills necessary that generate electricity and our total sales volume for our employees and executives heat to produce hot water, cold grew 5.2% to approxi- to reach their maximum potential, water, and carbon dioxide (CO2), mately 3.2 billion unit while contributing to the achieve- we advance our permanent cases. Our consolidat- ment of our company’s near- and quest to improve the efficiency, ed revenues rose 5.6% long-term objectives. productivity, and sustainability of to Ps. 156.0 billion. Our our production and distribution consolidated operating We further continued to refine network--always staying a step income reached our value-driven commercial ahead of the beverage industry. Ps. 21.5 billion, and our model across our markets to consolidated con- capture the full potential of the Our Permanent Quest trolling interest net non-alcoholic beverage industry. for Innovation income reached Recognizing that coolers play an Through our permanent quest Ps. 11.5 billion, result- integral role in our clients’ picture for innovation, we served the ing in earnings per of success, we allocated eight diverse, constantly evolving share of Ps. 5.61. cooler doors to approximately preferences and practices of our +11,200 distribution routes in Latin America Our Strategic Talent Management Model is designed to enable our company to reach its full potential by developing the capabilities for our employees and executives to take our organization to the next level. José Antonio Fernández Carbajal John Santa Maria Otazua Carlos Salazar Lomelín Chairman of the Board Chief Executive Officer Chief Executive Officer of FEMSA To amplify our connection with our consumers, more than 346 million consum- formulas, flavors, and packages, needs with a growing array of we rolled out ers in 10 different countries each coupled with our comprehensive affordable, returnable packag- our Magic Price and every day. market coverage, Powerade is ing alternatives. In the Valley of rapidly becoming the sports drink Mexico, we launched our innova- Points strategy, In Argentina, we kicked off the of choice among young people tive 3-liter returnable multi-serve global launch of Coca-Cola Life, across our franchises--bolster- PET presentation for brand Coca- satisfying our a low-calorie alternative for ing the brand’s growth in Latin Cola and our 2.5-liter returnable one of the world’s most be- America by 19% in 2013. multi-serve PET presentation consumers’ loved brands. Sweetened with for Sidral Mundet. We continued natural ingredients, Coca-Cola To amplify our connection with the rollout of our convenient evolving needs Life offers consumers less than consumers, we rolled out our 500-milliliter returnable glass half the calories of regular Coke.
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