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Coca-Cola-Femsa-Integrated-Report COCA-COLA FEMSA INTEGRATED COCA-COLA REPORT 2018 FEMSA COCA-COLA FEMSA CLARITY CONSISTENCY COMMITMENT INTEGRATED REPORT 2018 CLARITY CONSISTENCY COMMITMENT INTEGRATED REPORT INTEGRATED 2018 L16978 FORRO INGLES COCA.indd 1 3/1/19 17:20 COCA -COLA FEMSA +3.3billion unit cases % of35 the brands in our portfolio are low- or no- sugar beverages. Stock listing information: Mexican Stock Exchange, Ticker: KOFL | NYSE (ADR), Ticker: KOF | Ratio of KOF L to KOF = 10:1 Coca-Cola FEMSA, S.A.B. de C.V. is the largest Coca-Cola franchise bottler in the world by sales volume. The company produces and distributes trademark beverages of The Coca-Cola Company, offering a wide portfolio of 131 brands close to 290 million consumers daily. With over 87 thousand employees, the company markets and sells approximately 3.3 billion unit cases through 2 million points of sale a year. Operating 48 manufacturing plants and 297 distribution centers, Coca-Cola FEMSA is committed to generating economic, social, and environmental value for all of its stakeholders across the value chain. The company is a member of the Dow Jones Sustainability leading Emerging Markets Index, Dow Jones Sustainability MILA Pacific Alliance Index, FTSE4Good Emerging Index, and the Mexican Stock Exchange’s IPC and Social Responsibility and Sustainability Indices, among others. Its operations encompass franchise territories in brands Mexico, Brazil, Guatemala, Colombia, and Argentina, and, nationwide, in Costa Rica, Nicaragua, Panama, Uruguay, and Venezuela. For signi.com.mx 131 further information, please visit: www.coca-colafemsa.com design: II L16978 FORRO INGLES COCA.indd 2 3/1/19 17:21 COCA-COLA FEMSA n INTEGRATED REPORT 2018 Our CLARITY, CONSISTENCY, and COMMITMENT set us apart These attributes underscore our clarity of vision, mission, and strategy; our consistent focus on satisfying our consumers, shoppers, and clients’ needs, building our winning portfolio, transforming and empowering our operations to foster agility across our organization, carrying on our consumer and client-centric cultural evolution, and continuing our disciplined approach to capital allocation; and our unwavering commitment to generate sustainable economic, social, and environmental value for all of our stakeholders. 1 L16978 INTERIORES INGLES COCA.indd 1 3/4/19 16:15 +million2 points of sale José Antonio Fernández Carbajal John Santa Maria Otazua Dear Fellow Stakeholders We celebrated the 25th anniversary of our company’s incorporation and stock exchange listing—an entrepreneurial story of consistent growth, innovation, and value creation. 2 L16978 INTERIORES INGLES COCA.indd 2 3/4/19 16:15 COCA-COLA FEMSA n INTEGRATED REPORT 2018 Operating cash flow billion Mexican Ps. 35.5 35.5 36.3 31.2 +billion182 pesos in total revenues 2015 2016 2017* 2018 Operating cash flow = operating income + depreciation + amortization & other operative non-cash charges e’ve grown from a Consistent with our disciplined approach Mexico-based bottler to capital allocation—focused on driving to a multinational, shareholder returns—and the recent multi-category beverage evolution of the Philippines’ business leader, serving outlook, our Board of Directors concluded W290 million people and 2 million points of that exercising our put option and selling our sale through 48 plants and 297 distribution 51% stake in Coca-Cola FEMSA Philippines, centers across 10 countries. We’ve Inc., represented the best course of action re-invested over US$20 billion in our for our company’s stakeholders. This very business, including US$11.4 billion in difficult decision came after a successful +million2 accretive mergers and acquisitions. five-year turnaround of this operation. points of sale Our entrepreneurial spirit and passion for We continued to capitalize on strategic, our consumers and clients powered our long-term synergetic opportunities drive for growth and innovation. Leading through the acquisitions of the ABASA, the way, we served the market through our Los Volcanes, and MONRESA franchises transformative practices—from revenue in Guatemala and Uruguay, serving an growth management to segmented point- additional 14.6 million people. of-sale execution, to cold drink equipment Looking forward, we will continually placement, and end-to-end supply evaluate geographical and category chain integration. opportunities, maintaining our disciplined approach to capital allocation to maximize Impressively, our company multiplied the shareholder returns. original value of our business by almost 13 times—from US$1 billion at our IPO to Clear Integrated Value US$12.8 billion today—delivering an annual Creation Model total shareholder return of over 19.2% Our consumers and clients are at the since 1993. Our company center of everything we do. Accordingly, we’re building a winning portfolio for each multiplied the market—marked by 237 launches this original value of year. Capitalizing on brand Coca-Cola, “ Serving we’re leveraging our sparkling beverage our business by category’s growth through an affordable almost 13 times— mix of returnable and convenient, smaller presentations at magic price points for from US$1 billion our consumers. We’re also driving our at our IPO to low- or no-sugar portfolio ahead of US$12.8 billion 290million consumer trends, nearly doubling our people low- or no-sugar offering in Mexico. today.” * 2017 financial information is re-presented as if the Philippines had been discontinued from February 2017, date of the consolidation of said operation. 3 L16978 INTERIORES INGLES COCA.indd 3 3/4/19 16:15 We used % of recycled21 materials in our PET packaging, staying on track to achieve our 2020 goal of 25% With our launch of SmartWater in Brazil Consistent with our consumer and and Argentina, we’re establishing a client-centric cultural evolution, we defined consistent leadership position in water, KOF DNA—core beliefs and behaviors amplifying our premium, mainstream, that we aspire to live daily. KOF DNA will and value water portfolio. enable us to better work together to achieve our business results, while becoming a We’re selectively improving our competitive total beverage leader aligned with our position in the still beverage category, consumers’ tastes and lifestyles. exemplified by our redesigned Brazilian juice portfolio. We’re accelerating our dairy We’re responsibly addressing environmental category’s growth through Santa Clara, and social challenges across our operations’ while consolidating our position in the value chain. Aligned with The Coca-Cola plant-based beverage category under Company’s “World Without Waste” global AdeS—expanding our portfolio with the initiative, we used 21% of recycled materials launch of almond and coconut beverages. in our PET packaging, on track to achieve our 2020 goal of 25%. We also covered Also we’re accelerating our digitally driven 50% of our manufacturing operations’ business transformation. Our vision is power needs with clean energy; improved to deploy a demand-driven end-to-end our overall water use ratio by 19% over the integrated supply chain platform, utilizing past 8 years to 1.59 liters of water per liter advanced analytics, big data, and artificial of beverage produced; and surpassed our intelligence to granularly serve our clients 2020 goal of benefiting 5 million people and consumers. We further look to capture through our healthy habits initiatives. the analytical insights we gain from our comprehensive sales and marketing platform to design tailored business models that maximize and capture customer value creation for each segment. We’re accelerating our digitally driven business transformation. Our vision is to deploy a demand-driven “end-to-end integrated supply chain platform, utilizing advanced analytics, big data, and artificial intelligence to granularly serve our clients and consumers.” 4 L16978 INTERIORES INGLES COCA.indd 4 3/4/19 16:15 COCA-COLA FEMSA n INTEGRATED REPORT 2018 Consistent Transformation: Leveraging our affordability strategy, Operating Highlights our portfolio is well positioned to satisfy We continue Brazil’s recovering consumer environment. to capitalize long- Guided by our clear strategy, we navigated Our digital capabilities, along with favorable a complex environment to deliver positive sugar costs and attractively hedged prices, term synergetic comparable1 results this year. Our comparable “ produced profitability improvements for opportunities sales volume increased 1.3% to 3.09 billion the year. unit cases, with transactions growing through the 1.4% to 18.4 billion. Comparable total Led by our affordability strategy, acquisitions revenues grew 5.9% to Ps. 168.6 billion. we improved our volumes in the face of Comparable operating income grew 0.9% Colombia’s challenging, gradually recovering of the ABASA, to Ps. 23.0 billion. Comparable operating consumer environment. Confronting Los Volcanes, cash flow grew 3.8% to Ps. 32.8 billion. Argentina’s tough macroeconomic Importantly, our reported net controlling environment marked by hyperinflation, and MONRESA interest income reached Ps. 13.9 billion for we are much better prepared for this franchises in earnings per share of Ps. 6.62 (Ps. 66.21 market’s challenges thanks to our growing per ADS). mix of affordable packages and no-sugar Guatemala and beverages, digital initiatives, currency Uruguay.” In Mexico, we maintained market hedging, and cost and expense controls. share, delivering positive top-line results In Venezuela, we continually adjust our in the face of macroeconomic uncertainty
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