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Reporte Anual Que Se Presenta De Acuerdo Con Las Disposiciones De REPORTE ANUAL QUE SE PRESENTA DE ACUERDO CON LAS DISPOSICIONES DE CARÁCTER GENERAL APLICABLES A LAS EMISORAS DE VALORES Y A OTROS PARTICIPANTES DEL MERCADO DE VALORES EJERCICIO TERMINADO EL 31 DE DICIEMBRE DE 2013 GRUPO MODELO, S.A.B. DE C.V. Javier Barros Sierra 555 Col. Zedec Santa Fe C.P. 01210 México, D.F. México Valores de Grupo Modelo que cotizan en la Bolsa Mexicana de Valores, S.A.B. de C.V. y otros mercados: Grupo Modelo, S.A.B. de C.V. (“Grupo Modelo”) únicamente cotiza acciones ordinarias, con derecho a voto, nominativas, sin expresión de valor nominal de la Serie “C”, representativas de la parte fija del capital social, de libre suscripción. Estos valores se negocian en la Bolsa Mexicana de Valores, S.A.B. de C.V., en el Mercado de Valores Latinoamericanos en Euros (“LATIBEX”). Claves de Cotización: Bolsa Mexicana de Valores: GMODELO C 1 acción Serie “C”. Latibex: XGMD 1 acción Serie “C” por cada Unidad de Cotización. Las acciones GMODELO Serie “C”, se encuentran inscritas en el Registro Nacional de Valores y son objeto de cotización en la Bolsa Mexicana de Valores, S.A.B. de C.V. La inscripción en el Registro Nacional de Valores no implica certificación sobre la bondad del valor o la solvencia de la emisora o sobre la veracidad o exactitud de la información contenida en el Reporte Anual, ni convalida los actos que, en su caso, hubieren sido realizados en contravención de las leyes. ÍNDICE 1. INFORMACIÓN GENERAL a) Glosario de términos y definiciones .................................................................................. 4 b) Resumen ejecutivo ..................................................................................................................... 8 c) Factores de riesgo ............................................................................................................. 10 d) Otros valores ..................................................................................................................... 19 e) Cambios significativos a los derechos de valores inscritos en el Registro ...................... 19 f) Destino de los fondos g) Documentos de carácter público ....................................................................................... 20 2. GRUPO MODELO a) Historia y desarrollo de Grupo Modelo ............................................................................. 21 b) Descripción del negocio .................................................................................................... 29 i. Actividad principal ..................................................................................................... 29 ii. Canales de distribución ............................................................................................ 31 iii. Patentes, licencias, marcas y otros contratos ......................................................... 31 iv. Principales clientes ................................................................................................... 33 v. Legislación aplicable y situación tributaria ............................................................... 35 vi. Recursos humanos ................................................................................................... 35 vii. Desempeño ambiental y social ................................................................................ 35 viii. Información de mercado ........................................................................................... 38 ix. Estructura corporativa .............................................................................................. 40 x. Descripción de los principales activos ..................................................................... 41 xi. Procesos judiciales, administrativos o arbitrales ..................................................... 42 xii. Acciones representativas del capital social ............................................................. 43 xiii. Dividendos ................................................................................................................ 45 3. INFORMACIÓN FINANCIERA a) Información financiera seleccionada ................................................................................. 47 b) Información financiera por línea de negocio, zona geográfica y ventas de exportación ...................................................................................................... 48 c) Informe de créditos relevantes .......................................................................................... 48 d) Comentarios y análisis de la administración sobre los resultados de operación y situación financiera de MODELO .................................................................. 48 i. Resultados de la operación ...................................................................................... 49 ii. Situación financiera, liquidez y recursos de capital ................................................. 51 iii. Control interno .......................................................................................................... 54 e) Estimaciones, provisiones o reservas contables críticas ................................................. 55 4. ADMINISTRACIÓN a) Auditores externos ............................................................................................................. 60 b) Operaciones con personas relacionadas y conflicto de interés ....................................... 60 c) Administradores y accionistas ........................................................................................... 61 d) Estatutos sociales y otros convenios ................................................................................ 67 2 5. MERCADO DE CAPITALES a) Estructura accionaria ......................................................................................................... 69 b) Comportamiento de la acción GMODELO Serie “C” en el mercado de valores ............................................................................................................................... 70 c) Formador de Mercado ....................................................................................................... 71 6. PERSONAS RESPONSABLES ................................................................................................... 72 7. ANEXOS Informe del Comité de Auditoría y Prácticas Societarias ....................................................... A Estados Financieros al 31 de diciembre de 2013 y 2012 dictaminados por el Auditor Externo ....................................................................................... B Estados Financieros al 31 de diciembre de 2013 y 2012 dictaminados por el Auditor Externo ....................................................................................... C Estatutos Sociales Vigentes……………………………………………………………………….. D 3 1. INFORMACIÓN GENERAL a) GLOSARIO DE TÉRMINOS Y DEFINICIONES Los términos utilizados con mayúscula inicial en el presente documento y que no se encuentren de otra forma definidos dentro del mismo, tendrán el significado otorgado a los mismos en la presente sección. ABI Anheuser-Busch InBev SA/NV AB México Anheuser-Busch México Holding, S. de R.L. de C.V. Agencia Empresa que se encarga de comercializar y/o vender cerveza. Ale Un tipo de cerveza que de manera general se conoce en la industria cervecera, de acuerdo al proceso de fermentación y levadura utilizada. La fermentación de la cerveza tipo Ale se realiza a mayor temperatura que las cervezas tipo Lager, dando como resultado aromas y sabores más intensos. Al término de la fermentación, la levadura se colecta en la superficie. BMV Bolsa Mexicana de Valores, S.A.B. de C.V. Capacidad Instalada La producción total anual teórica que podría alcanzar una planta con la infraestructura existente. Casa de Cocimientos Edificio donde se encuentran los diferentes equipos que convierten las materias primas en un líquido conocido como Mosto. Chope Concepto de cerveza de barril con el mismo grado de alcohol, insumos y materia prima que la cerveza en botella. Circular Única de Emisoras Las Disposiciones de Carácter General Aplicables a las Emisoras de Valores y a Otros Participantes del Mercado de Valores, expedidas por la CNBV con fecha 19 de marzo de 2013, según las mismas han sido modificadas. CNBV Comisión Nacional Bancaria y de Valores. COFECE Comisión Federal de Competencia Económica. Compañía o Grupo Modelo Grupo Modelo, S.A.B. de C.V. (sociedad tenedora de acciones) Constellation Constellation Brands, Inc. 4 Crown Imports, LLC, o Crown Imports Alianza estratégica entre Grupo Modelo y Barton Beers Ltd., subsidiaria de Constellation Brands, para la importación exclusiva en Estados Unidos de todas las marcas de exportación de MODELO, al igual que de Tsingtao y St. Pauli Girl en ese país (esta última marca se dejó de importar el 31 de mayo de 2012). Diblo Diblo, S.A. de C.V., subsidiaria de Grupo Modelo, cuya actividad principal consistía en la inversión en acciones de subsidiarias, las cuales se dedicaban en su mayoría a la producción, distribución, venta, exportación e importación de cerveza en México y en el extranjero. Diblo fue fusionada con Grupo Modelo el 24 de abril de 2013, permaneciendo esta última como sociedad fusionante. Difa Dirección de Fábricas, S.A. de C.V., empresa que se dedicaba a la manufactura de envases de vidrio, principalmente en color cristalino y ámbar para la industria cervecera, vinera, alimenticia y en general jugos y bebidas. Difa fue fusionada con Grupo Modelo el 24 de abril de 2013, permaneciendo
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