Brazil favors Coca-Cola Femsa

Coca-Cola Femsa, the largest independent bottler of soda in the world, ended the third quarter with net income attributed to 3.343 controllers billion Mexican pesos ($ 248,9 million), which represented a growth of 13.2% compared to the same range of 2013.
The result of the company was influenced by the company's integration of soft drinks and Fluminense Spaipa Brazilian industry of drinks in Brazil and by the depreciation of Latin American currencies against the Mexican peso. Excluding the effects of foreign exchange and the integration of Fluminense and Spaipa, profit increased by 21.3%.
The company's revenue was 11.4% in the quarter, to 41.781 billion Mexican pesos. Last year, Coca-Cola Femsa has recorded an increase in sales and improvement in operations that it has in Mexico, Brazil, Colombia and Central America.
The total sales volume grew 7.5%, to 885.4 million boxes. Excluding the integration of Fluminense and the increased volume Spaipa 0.7%, to 800.8 million boxes. In Brazil, sales volume increased by 40.6% in the third quarter to 517.7 million boxes.
The operating profit increased by 15.1% to 5.825 billion Mexican pesos. Excluding the integration of new units in Brazil, operating profit increased 7.9 percent to 5.464 billion pesos.
According to the company, a reduction in costs with sweeteners and PET bottles was offset by exchange rate depreciation applied to the cost of raw materials. With that, the operating expenses increased by 2.3% in the quarter. The operating margin increased 1.3 percentage points to 12.7% in the third quarter.
The company's net debt reduction of 11.5% in the quarter to 39.953 billion Mexican pesos.