Coca-Cola FEMSA, S.A.B. de C.V. (NYSE:KOF) Q2 2024 Earnings Conference Call July 19, 2024 11:00 AM ET

Company Participants

Jorge Collazo - Head of Investor Relations
Ian Craig Garcia - Chief Executive Officer
Gerardo Cruz Celaya - Chief Financial Officer

Conference Call Participants

Fernando Olvera - Bank of America
Rahi Parikh - Barclays
Lucas Mussi - Morgan Stanley
Felipe Ucros - Scotiabank
Alejandro Fuchs - Itau
Lucas Ferreira - JPMorgan
Alvaro Garcia - BTG
Ulises Argote - Santander
Thiago Bortoluci - Goldman Sachs

Operator

Good day and welcome to today's Coca-Cola FEMSA Second Quarter 2024 Conference Call. Throughout today's presentation, all participants will be in a listen-only mode. Later, we will conduct a question-and-answer session. [Operator Instructions]

And now I'd like to hand the call over to your host, Jorge Collazo. Please go ahead, sir.

Jorge Collazo

Thank you. Good morning, everyone. Welcome to this webcast and conference call to review our second quarter 2024 results. Joining me this morning are Ian Craig, our Chief Executive Officer; and Gerardo Cruz, our Chief Financial Officer. As usual, after prepared remarks, we will open the call for a question-and-answer session.

Before we proceed, please allow me to remind all participants that this conference call may include forward-looking statements and should be considered 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. For more details, please refer to the disclaimer in the earnings release that went out this morning.

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

Ian Craig Garcia

Thank you, Jorge. Good morning, everyone. Thank you for joining us today to discuss our second quarter results. Let me begin by saying that I am encouraged by the progress we are making across the priorities we set for the year.

For the second quarter, we continued building on the growth momentum of our core business, increasing our consolidated volumes by 7.5% year-on-year while driving double-digit top and bottom line growth. We're also progressing on becoming our customers' preferred commercial platform with Juntos+.

During the quarter, we finished rolling out the new version 4.0 of our app in our two largest markets, Mexico and Brazil, while beginning its rollout in Guatemala, Panama and Colombia. Now, more than half of our total customer base are digital buyers. Importantly, we are taking significant steps in deploying Coca-Cola FEMSA's principles, the foundation of the culture that we envisioned for our long-term growth and success.