Coca-Cola FEMSA, S.A.B. de C.V. (KOF) Q2 2023 Earnings Call Transcript

For the period ending June 30, 2023

July 26, 2023 12:00 p.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Good day and welcome to the Coca Cola FEMSA Second Quarter 2023 Conference Call. Please note this conference is being recorded and for the duration of the call your line will be on listen to me. However, you will have the opportunity to ask questions at the end of the call. [Operator Instructions] I would now like to hand the call over to Jorge Collazo, Coca Cola FEMSA Investor Relations. Please go ahead.

Jorge Collazo

Thank you and good morning, everyone. Welcome to our conference call to review our second quarter 2023 results. I am here with Ian Craig, our Chief Executive Officer and Gerardo Cruz, our Chief Financial Officer. As usual after prepared remarks, we will open the call up to take your questions.

Please keep in mind that this conference call may include forward-looking statement concerning Coca Cola FEMSA's future performance and should be considered as good faith estimates made by the company. These forward-looking statements reflect management's expectations and are based upon currently available data. Actual results are subject to future events and uncertainties that can materially impact the company's performance.

With that, let me hand the call over to our CEO. Please go ahead, Ian.

Ian Craig

Thank you, Jorge. Good morning, everyone. We appreciate you joining us today. Coca Cola FEMSA delivered another set of solid results for the second quarter. We continue to demonstrate our positive momentum with solid volume performance resulting from growth across all of our markets. Notably, we continued improving our execution, redoubling our focus on our customers and our consumers and increasing investment to continue supporting our growth.

The first six months of the year have also been important for the Coca Cola FEMSA senior leadership team to complete our listening tour and set the strategic priorities of our business going forward. As I have mentioned on our previous calls, as part of this process, we have worked our market met with key stakeholders and identify the pain points and the many opportunities ahead for us. We're convinced that we are very well positioned to accelerate the growth of our core business and become our customers with very commercial platform.

With that, let's review our consolidated results for the second quarter. Our consolidated volumes increased 7% year-on-year surpassing 1 billion unique cases. This marks the first time that our company surpassed 1 billion-unit cases in a single quarter. Our volume growth was driven mainly by solid performance in key markets such as Mexico, Brazil and Guatemala.