Unknown Analyst's questions to Coca-Cola Femsa SAB de CV (KOF) leadership • Q4 2024
Question
An analyst from JPMorgan Chase & Co. sought to reconcile the mid-single-digit volume growth outlook for Mexico with the 40 million unit cases of unavailability from the previous year, questioning why the guidance wasn't higher.
Answer
CEO Ian Marcel Craig García clarified that the 40 million unavailable cases was a full-year figure, representing about 2% of Mexico's volume. He explained the mid-single-digit guidance balances this recapture opportunity against a weaker macroeconomic forecast. Executive Jorge Alejandro Pereda added that the need to replenish depleted safety inventories also tempers the immediate volume upside.