BlackRock, Inc. filed an amended Schedule 13G reporting beneficial ownership in Coca‑Cola FEMSA (KOF). BlackRock reported 42,461,625 shares, representing 8.1% of the class as of 09/30/2025.
The filing lists sole voting power over 40,442,034 shares and sole dispositive power over 42,461,625 shares, with no shared voting or dispositive power. BlackRock states the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control. The filing notes various persons may have rights to dividends or proceeds, and no single person exceeds five percent.
Coca-Cola FEMSA reported mixed operational performance for the six months ended June 30, 2025, with several product categories showing declines and pockets of growth in specific countries. Overall, sparkling beverage volumes mostly declined across the region (examples: -4.2% and -7.4% in different statements), while still beverages showed small increases in some comparisons (+0.1% to +0.5%) and notable country-level gains (Argentina: sparkling +7.6%, still +47.0%). Bottled water volumes were uneven: several metrics show declines (e.g., bottled water ex-bulk down 1.8% and down 8.2% in other lines) but some country contributions drove increases (bottled water ex-bulk +20.6% in one disclosure).
On cash flows and financing, operating cash flows decreased primarily from higher supplier payments. Capital expenditures and related outflows totaled Ps. 9,985 million in 2025 (Ps. 9,422 million in 2024). Borrowings proceeds were Ps. 11,461 million in 2025 versus Ps. 313 million in 2024; repayments were Ps. 421 million and Ps. 23 million, respectively. In 2025 the company issued senior notes with principal equivalent to Ps. 9,828 million. Dividends paid were Ps. 4,053 million in 2025 versus Ps. 3,194 million in 2024. An exchange rate of Ps. 18.8292 per US$1.00 is provided for convenience.