Coca-Cola FEMSA, S.A.B. de C.V. (KOF) Q1 2022 Earnings Call Transcript

For the period ending March 31, 2022

April 29, 2022 9:00 a.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Good morning, and welcome to Coca-Cola FEMSA's First Quarter 2022 conference call. As a reminder, today's conference is being recorded and all participants are in a listen-only mode. At the request of the company, we will open the conference up for question-and-answer after the presentation.

During this conference call, management may discuss certain forward-looking statements concerning Coca-Cola FEMSA's future performance and should be considered as a good faith estimate made by the company.

These forward-looking statements reflect management's expectations and are based on current available data. Actual results are subject to future events and uncertainties, which can materially impact the company's actual performance.

At this time, I will now turn the conference over to Mr. John Santa Maria, Coca-Cola FEMSA's Chief Executive Officer. Please go ahead, Mr. Santa Maria.

John Santa Maria

Good morning, everyone. Thank for joining us today to discuss Coca-Cola FEMSA's first quarter 2022 results.. With me on the call today are Constantino Spas, our Chief Financial Officer and Jorge Collazo, Head-Investor Relations.

Against the backdrop of what is still a volatile environment we are building on last year's positive momentum to deliver a solid start to the year. Our volumes increased across all of our markets while our consolidated revenues and operating cash flow grew double digits.

Importantly, we continue delivering accelerated results across all our strategic fronts. We are leveraging the strength of our enhanced cooperation framework with the Coca-Cola company to align and execute ambitious growth plans and investment. While we open new revenue streams and significantly advance our digital strategy.

During today's call. I will first review our consolidated results. Then I will expand on our renew strategy, which is based on six strategic corridors, with a special emphasis on our portfolio and omnichannel digital initiatives, providing examples of how we are implementing this strategy across our diverse footprint.

Before our Q&A session Constantino will walk you through our division's performance and our hedging strategies, closing with an update on the use of our green bond proceeds, as we continue progressing towards our sustainability commitments.

Before discussing our consolidated results, it is important to remind you that our recent acquisition of CBI in Brazil is included as a February 1, 2022. For this reason, we will refer to certain figures as comparable, which is the year-on-year comparison, excluding the effects of M&A and currency translation.