Coca-Cola FEMSA, S.A.B. de C.V. filings document the reporting profile of a Mexican foreign private issuer and Coca-Cola franchise bottler with ADSs listed under KOF. Its Form 6-K reports provide quarterly results, operating and financial reviews, annual Form 20-F filing notices, bond issuance disclosures, board changes, and annual shareholder meeting materials.
The disclosures cover beverage volume, revenues, operating income, majority net income, currency effects, segment information for Mexico and Central America and South America, and the company’s production and distribution network for trademark beverages of The Coca-Cola Company. Governance and capital-structure records address shareholder classes, board and committee nominations, ADS ratio information, debt refinancing, and forward-looking information.
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.
Coca-Cola FEMSA (KOF) 2Q25 snapshot: revenues rose 5.0% YoY to Ps.72.9 bn (+2.4% comparable) despite a 5.5% volume contraction. Gross profit grew 3.4%, but margin slipped 70 bps to 45.3%. Operating income was nearly flat at Ps.9.8 bn (-2.6% comparable), while adjusted EBITDA fell 3.8%. Majority net income declined 5.3% to Ps.5.3 bn; EPS Ps.0.32.
- Regional mix: Mexico & Central America volume -8.4%, op-income -6.3%; South America revenue +13.2%, op-income +19.6%.
- YTD 2025: revenue +6.7%, operating income +3.3%, net income -1.4%, volume -3.9%.
- Balance-sheet: US$500 m senior notes due 2035 issued at UST+93 bp; net debt/EBITDA 0.79×, interest-coverage 9.7×. CAPEX YTD Ps.9.6 bn (+10.8%).
- Cash returns & ESG: Ps.0.23 per share dividend (Ps.3.9 bn), tenth consecutive inclusion in FTSE4Good with score improving to 3.9/5.
Management cites soft Mexican macro and adverse weather but maintains long-term outlook, focusing on capacity investments and commercial initiatives with The Coca-Cola Company.