joining for results. XXXX Thank everyone. morning, us to second discuss today quarter our Good
of was section website. Our Investor earnings available the yesterday published release is and in Relations our
Chief not Joining is Constantino agenda who able call. today’s conduct a us us look Spas, conferencing Officer today. will our next today forward him Due Santa quarter John Executive to join our to October. Maria, will call earnings be back our Chief Officer third to We Financial for having
over prepared your Spas Good to up remarks, following you open will morning, to everyone. usual, We questions. the joining I’ll take that, thank us today. call call Constantino. As With for Constantino we the hand
we saying quarter pleased Let that report begin second are me of solid results. a very set by to
solid our while recovery coupled an on cash and strong mix XX.X% This resulted with building our by increased flow our operating initiatives with growth, top-line territories. momentum continue impressive We positive pricing performance volume our in volume X%. across growth,
for adjusting XXXX to operating one-time margin inflation. in and company cost credits ability substantially effects the we outstanding to related This our remained the recognized mitigate input cash pressures resilience in in Brazil, virtually margin increasing our of extraordinary tax flow phase flat. when the Additionally, reflects our of team’s
our will strategic we As during we executing the discuss, key to quarter, initiatives. continue against
exploring manufacturers Perfetti vision, Melle exemplified in of one Aligned we and streams Grupo announced the largest recently Brazil, chewing of executing complementary markets. across as execution growth innovation and investments consumer-centric bolstering our Coca-Cola We our the with continue on portfolio, platform Van distribution agreement winning and confectionery the with specially omni-channel and digital Together continue gum. our plans focused against we revenue Company, with a our of world’s rollout ambitious by accelerating continue affordability. developing
Brazil, will our our I as a figures comparison refer February to translation which year-on-year our of results. included certain the in in switch of consolidated will With review M&A currency in effects. results and to I comparable, as gears Now CVI of acquisition excluding XXXX,
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and X%, Our core X.X% growth in sparkling beverage flavors. category Brand growth Coca-Cola XX.X% by grew driven in
in XX% all the trade previous trade. personal numbers important continue and channel the we beverage these when is grew By in outperforming In To the underscored supermarkets. drove modern our we in sense, growth growth trade resilient of with a Mexico, on-premise. see traditional you to Brazil, both in on-premise in growth saw our channels and and recovery channels double-digit by traditional the performance growing It’s XX.X%. comparable give strong comparing on-premise evident against as primarily in increasing growth-over-growth represent compared all categories year. XX% respectively our water that second of with XXXX consolidated still channel, with categories volume the quarter last of highlight to achieved Our and This the year.
points to is single more our percentage basis, On increased matching mix has points served X.X across almost In percentage single drive year XX% pressures in this single reach XXXX our affordability our increased X our mix a served continued percentage Brazil, mix markets, This points, we and to Year-to-date, XXXX. and than reaching on initiatives have mix single-served X.X inflationary served despite Mexico are XX.X%. reaching consumers on track our Importantly, baseline. mix reach consolidated to growth. XX%.
are affordability believe capabilities, second we none. for Our
initiatives to our have returnable in presentations allow that of of us choice. base provide a our our deep We affordability unparalleled consumers level with
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Another important engine is innovation. growth
excited We innovation pipeline. Coca-Cola the Company’s are about very
sugar such example, options zero we Grammy Bites of For new Creations launching both editions we and are the Coca-Cola include engagements. plans will to Coca-Cola as the Daniel’s the and limited which to inspired and Cocktail, be Drink XXXX. markets Coca-Cola launched debut in Jack a Marshmallow, which gaming announced in consumer Mexico the ways nominated launched Ready of are from Also quarter, key during now on late artist in generating new Coca-Cola Company Coca-Cola
of Importantly, continues zero territories. formula all the new our Coca-Cola sugar and visual identity growing of across
achieved effects. Heineken’s basis. growth year, it solid top-line consolidated performance achieved it now driven growth volume decline For in Brazil. XX.X% approximately revenue growth, brand growth, revenue Notably, the we example, that in in resulting our from in of during was Coca-Cola portfolio the On the comparable Brazil, by accelerated, country. initiatives, This of beer represents pricing revenues, volume growth management we and of favorable our while XX% transition first our and XX.X% with in currency despite the XX% mix achieved the a performance, on XX% coupled total beer translation solid and Mexico, half increasing
margin Our gross gross contracted and points. our profit XXX basis increased XX%
are effect points. margin XXXX to the basis contracted have recognized we normalize extraordinary XX by quarter of gross one-time of second income would we However, during our the
partially favorable high revenue mostly territories. across material PET mitigated and material costs, from our strategies initiatives, and sweetener management costs growth hedging raw raw pricing Our
across basis, basis and efficiencies our our expense our increased income reflecting expanded translation the M&A operating to points contraction one-time would But operating income income margin a Our On margin currency operating effects, increased an year-on-year operations. leading have comparable by previously X.X% XX by ability X.X%. again, mentioned normalizing effects, to operating of points. our basis achieve XXX excluding
Finally, of our for cash year-over-year flow increased a operating X% flow operating XX.X%. resulting the quarter cash in margin
recorded compared are financial In a the on of as decrease accordance previous with or comprehensive results Moving on, being IFRS the hedging the with recognizing debt instruments X, are using hedged as that gain XX.X% we of the rate loss year. quarter, second our interest derivatives.
of value to XXXX, and sorry, now of gain to instruments. in a in Including corresponding in we quarter. are we a offsetting the second market As one-off first million recognized in – pesos financial quarter the loss loss result, market a or this million value gain first are XXX recording financial and the for previous of of quarter XXXX, gain pesos instruments reporting the the – effect, XXX value
capabilities. to pesos comprehensive Costa across of financial driven and by This exchange accelerated volume decline pricing interest the and revenues our gain expense net, the a XXXX. results. and performance driven the XX are, on income, now a growth billion quarter. increase net growth interest with of foreign results deliver Rica, a revenue by increased In during quarter. XX.X% pesos I Mexican effects increasing achieved strong XX.X%. Additionally, was with million volume comprehensive financial XX.X% second quarter during reach our our while growth our in compared mainly volume will growth, Mainly an coupled controlling initiatives In channels, with operations XX% management to performance revenue X.X%, solid Nicaragua the our result these total America, increase solid our results X.X divisions’ Central recorded expand our Mexico, income. continued the in growth Guatemala, a double-digit to of second
XX.X%. As a a quarterly revenues result, in our solid division the increased
our front, year. profit decrease the resulted profitability basis margin gross X.X%, This of the as XXX compared points, On a margin previous XX.X%. a gross which profit in increased to represents of
hedging mitigated material has and from costs by relevant in this concentrate material PET strategy Mexico. and raw partially Our driven higher inflation, mainly sweeteners contraction, raw
relationship only previous beneficial cost in As in not effective part is line an in as this in with sparking July. Coca-Cola of adjustments Company, increase we for This of years. concentrate with increase became previous the our Mexico beverages month did mutually
the and revenue will Company, behind market efficiencies. to Together driving management with invest offset We with to this the expect continue to we effect growth. initiatives Coca-Cola growth continue
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a As the increased division XX.X%. in operating income our result,
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growth. once achieved again on double-digit volume America. solid Now to We moving South
basis, excluding while Our volumes XX.X%. the CVI, solid mainly consolidation Argentina driven by in and of volume division to XX% growth. Brazil, XX.X% the Uruguay growth which increased increased the high-single-digit XXXX. period Brazil, of both This Colombia, same comparable includes XX.X% a was On delivered in in as in growth CVI compared a
portfolio effect revenue was Brazilian the affordability have transition Mexican the we achieved exclude our XX% top-line management portfolio of resulting Brazil. our in increased beer effects, of the real This despite in the M&A revenues increase quarter. our in translation decline translation our during from of If beer currency XX.X%. the growth and us into division growth the revenues would peso to Our capabilities, by enabled a and favorable
South margin On gross gross XX.X%, XXX the profitability America front, basis in increased points. profit our our contracted while
mix expanded, positive gross effect margin effect volume Brazil, extraordinary the of the favorable our one-time material price recognition of tax strategies. and effects raw hedging excluding the of growth, However, effects have in would reflecting
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quarter. Finally, our the decreased X.X% operating for cash flow
previous value-enhancing multi-category consumer-centric of a core our an call, Reevolution. that people-centric place and This based agile new John on organization, – call commercial platform the sustainability earnings platform, our the savvy omni-channel faster described under and strategic we culture, actively at acquisitions. heart renewed building developing concept portfolio, pursue and corridors, digitize six As winning we digital a our during is have strategy
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of methodology, American to environmental million but heart our chain seventh initiatives. ahead and ambitions index we Femsa’s part our practices. only the towards in the this are our index of Femsa the positive due sustainability Markets not have other we of As a generated place $XX Coca-Cola the previous sustainability to sustainability be of This its savings earnings for consecutive recognition with social we we us reaffirms at our commitments, long-term calls, recognized on update, members as as FTSEXGOOD year-to-date. in reinforcement organization. provided sustainability Latin proud supply also ranks process, Building participants provides Coca-Cola of Emerging more reinvention accelerate sustainability leading our than According to our during recognition to industry
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our financial as as in Our policies. the prudent ability protect our to well profitability, markets’ trust
delivering half enter of gaining and to is continue we growing, As our transformation all second and the our year, capabilities fronts, we and remain strategic accelerating Femsa’s the of confident that across results environment and for today am your speed for Thank this by us and economic achieve objectives. continued short-term Coca-Cola very our you support despite I call. capabilities and for encouraged the joining to Femsa’s long-term trust Coca-Cola
Now open that call operator, myself to address. Jorge will both questions so Collazo like I would and the for you much. Thank
