just The Preview - Coca-Cola FEMSA Q2 & H1
Coca-Cola FEMSA will reports its second-quarter and half-year results tomorrow (21 July)
Coca-Cola FEMSA will reports its second-quarter and half-year results tomorrow (21 July). Here, just-drinks takes a look at the highs and lows for the company in the three months to the end of June.
- April saw Coca-Cola FEMSA complete the sale of MXN2.5bn (US$426.8m) -worth of fixed-rate bonds. The bottler made the sale in five- and ten-year bonds at an annual rate of 8.27%.
- In the same month, the company announced plans to expand capacity and improve efficiency in Brazil in order to satisfy growing demand and offset rising costs in the country. This was followed, weeks later, by an announcement that the firm will build a USS$146m soft drinks plant in the country. The plant will be located in the Brazilian province of Minas Gerais and should be completed by 2015.
- Reports surfaced in May that Coca-Cola FEMSA is also looking to build a $160m bottling facility in Colombia. Operations are expected to begin in three to five years, however, the company has not confirmed the reports.
- The biggest announcement for Coca-Cola FEMSA during the quarter however, was the merger of its bottling operations with privately-held Mexican conglomerate Grupo Tampico. Under the agreement, valued at MXN6.55bn (US$555m), Coca-Cola FEMSA gave Grupo Tampico 63.5m newly issued shares valued at MXN103.20 pesos per share.
For Coca-Cola FEMSA's Q1 results, click here.
In the second part of just-drinks' review of 2011, Michelle Russell looks at how the soft drinks category has fared in the last 12 months....
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