Fomento Economico Mexicano S.A.B. de C.V. (FMX) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Welcome to the FEMSA's first quarter 2025 results conference call. My name is Alan and I'll be your coordinator for today's event. Please note this call is being recorded and for the duration your lines will be on listen only. However, you'll have the opportunity to ask questions at the end. This can be done by pressing star 1 on your telephone keypad. If you require assistance at any time, please press star 0 and you'll be connected to an operator. I'll now hand you over to your host, Juan Fonseca, to begin the press. Thank you. Thank you. Good morning, everyone. Welcome to FEMSA's first quarter 2025 results conference call. Today we are joined by José Antonio Fernández Garzalagüera, CEO of our Proximity and Health Division, Martín Arias, our CFO, and Jorge Collazo, who heads Coca-Cola FEMSA's industry relations team. The plan for today is for Jose to open the conversation with some comments on the performance of the business during the first quarter, particularly at Proximity Americas, and then to provide a quick update on our retail portfolio. After Jose's remarks, Martin will provide more detail on our quarterly results. Finally, we will open the call for your questions. Jose, please go ahead. Thank you, Juan. Good morning, everyone. During the first quarter, FEMSA was able to navigate a challenging environment across several markets, particularly in Mexico, taking advantage of its resilient, geographically diversified business platform. Within proximity and health, however, Mexico is by far the biggest component, and the division results will inevitably reflect whatever is happening in these core markets. Our results for the first quarter reflect a challenging set of headwinds particularly in proximity America, combining a persistently soft consumer environment ...