UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 20-F ANNUAL REPORT PURSUANT TO SECTION 13 OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2003 Commission file number 1-12260 Coca-Cola FEMSA, S.A. de C.V. (Exact name of registrant as specified in its charter) Not Applicable (Translation of registrant’s name into English) United Mexican States (Jurisdiction of incorporation or organization) Guillermo González Camarena No. 600 Centro de Ciudad Santa Fé 01210 México, D.F., México (Address of principal executive offices) Securities registered or to be registered pursuant to Section 12(b) of the Act: Name of Each Exchange Title of Each Class on Which Registered American Depositary Shares, each representing 10 Series L Shares, without par value....................................... New York Stock Exchange, Inc. Series L Shares, without par value.................................................. New York Stock Exchange, Inc. (not for trading, for listing purposes only) 8.95% Notes due November 1, 2006 .............................................. New York Stock Exchange, Inc. Securities registered or to be registered pursuant to Section 12(g) of the Act: None Securities for which there is a reporting obligation pursuant to Section 15(d) of the Act: None The number of outstanding shares of each class of capital or common stock as of December 31, 2003 was: 844,078,519 Series A Shares, without par value 731,545,678 Series D Shares, without par value 270,750,000 Series L Shares, without par value Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports) and (2) has been subject to such filing requirements for the past 90 days. Yes No Indicate by check mark which financial statement item the registrant has elected to follow. Item 17 Item 18 TABLE OF CONTENTS Page Introduction......................................................................................................................................... 1 Item 1. Not Applicable .................................................................................................................................... 3 Item 2. Not Applicable .................................................................................................................................... 3 Item 3. Key Information.................................................................................................................................. 3 Selected Financial Data....................................................................................................................... 3 Dividends and Dividend Policy........................................................................................................... 3 Exchange Rate Information................................................................................................................. 3 Risk Factors......................................................................................................................................... 3 Item 4. Information on the Company .............................................................................................................. 3 The Company...................................................................................................................................... 3 Regulation ........................................................................................................................................... 3 Bottler Agreements ............................................................................................................................. 3 Description of Property, Plant and Equipment....................................................................................3 Significant Subsidiaries....................................................................................................................... 3 Item 5. Operating and Financial Review and Prospects .................................................................................. 3 Item 6. Directors, Senior Management and Employees .................................................................................. 3 Compensation of Directors and Officers............................................................................................. 3 Stock Incentive Plan............................................................................................................................ 3 Share Ownership ................................................................................................................................. 3 Board Practices ................................................................................................................................... 3 Employees........................................................................................................................................... 3 Insurance Policies................................................................................................................................ 3 Item 7. Major Shareholders and Related Party Transactions........................................................................... 3 Major Shareholders ............................................................................................................................. 3 Related Party Transactions.................................................................................................................. 3 Item 8. Financial Information.......................................................................................................................... 3 Consolidated Statements and Other Financial Information................................................................. 3 Legal Proceedings ............................................................................................................................... 3 Item 9. The Offer and Listing.......................................................................................................................... 3 Trading Markets.................................................................................................................................. 3 8 Trading on the Mexican Stock Exchange............................................................................................ 3 Item 10. Additional Information........................................................................................................................ 3 Bylaws................................................................................................................................................. 3 Material Agreements........................................................................................................................... 3 Exchange Controls .............................................................................................................................. 3 Taxation .............................................................................................................................................. 3 Documents on Display ........................................................................................................................ 3 Item 11. Quantitative and Qualitative Disclosures about Market Risk ............................................................. 3 Interest Rate Risk ................................................................................................................................ 3 Foreign Currency Exchange Rate Risk ............................................................................................... 3 Equity Risk.......................................................................................................................................... 3 Commodity Price Risk ........................................................................................................................ 3 Items 12-14. Not Applicable .................................................................................................................................... 3 Item 15. Controls and Procedures ..................................................................................................................... 3 Item 16A. Audit Committee Financial Expert...................................................................................................... 3 Item 16B. Code of Ethics..................................................................................................................................... 3 Item 16C. Principal Accountant Fees and Services ............................................................................................. 3 Item 16D. Not Applicable .................................................................................................................................... 3 Item 16E. Not Applicable .................................................................................................................................... 3 Item 17. Not Applicable .................................................................................................................................... 3 Item 18. Financial Statements ........................................................................................................................... 3 Item 19. Exhibits ..............................................................................................................................................