v3.26.1
Information by Segment
 12 Months Ended
Dec. 31, 2025
Segments [Abstract]  
Information by Segment Information by Segment
The information by segment is presented considering the Company’s business units (as defined in Note 1) based on its products and services, which is consistent with the internal reporting reviewed by the Chief Operating Decision Maker. A segment is a component of the Company that engages in business activities from which it earns revenues, and incurs the related costs and expenses, including revenues, costs and expenses that relate to transactions with any of the Company’s other components. All segments’ operating results are reviewed regularly by the Chief Operating Decision Maker, who makes decisions about the resources that would be allocated to the segment and to assess its performance, and for which financial information is available.
On February 15, 2023, the Company announced a new long-range plan to maximize value creation, as well as a series of decisions resulting from its strategic review process. During 2022, FEMSA carried out a thorough strategic review of its business platform, including the bottom-up definition of long-range plans for each business unit, as well as the top-down analysis of the optimal corporate and capital structure, to ensure full alignment between the Board and management as to how to pursue and maximize value creation.
Consistent with this vision, the Company has determined that the best path to maximize long term value creation is by focusing on its core business verticals which have the highest strategic relevance, growth potential, and financial and competitive strength:
•Retail, with what the Company believes has excellent long-term growth opportunities, comprised of Proximity, Health, and Fuel.
•Coca-Cola FEMSA, leveraging its leading competitive position and best in class execution, combined with significant financial strength and strategic opportunities.
•Digital solutions, building a powerful value-added financial ecosystem, while playing a key role in leveraging the connection among FEMSA’s core business units and its customers.
As a result of what is mentioned above, Logistics and Distributions segment, as well as the investment in Heineken are no longer presented as a reportable segment given the divestiture plans and their presentation as discontinued operations (see Note 4) for all periods in these consolidated financial statements.
Inter-segment transfers or transactions are entered into and presented under accounting policies of each segment, which are the same as those applied by the Company. Intercompany operations are eliminated and presented within the consolidation adjustment column included in the tables below.
a)By Business Unit:
2025Coca-Cola FEMSAProximity Americas DivisionProximity Europe DivisionHealth DivisionFuel Division
Discontinued operations
Other (1)
Consolidation AdjustmentsConsolidated
Total revenues Ps.291,746Ps.328,839Ps.57,028Ps.88,129Ps.67,195Ps.—Ps.29,128Ps.(21,111)Ps.840,954
Intercompany revenue 10,4663,390——47— 7,208(21,111)—
Cost of goods sold158,570180,34433,77864,27559,004—20,025(16,618)499,378
Gross profit 133,176148,49523,25023,8548,191— 9,103(4,493)341,576
Administrative expenses15,04310,4053,8842,455290—10,283(3,035)39,325
Selling expenses76,664108,01817,01818,2704,967—7,601(3,214)229,324
Income before income taxes and share of the profit of equity method accounted investees 37,15814,1711,7236421,222—(2,079)—52,837
Consolidated net income from continued operations 25,01612,4471,326190884—(8,384)—31,479
Consolidated net income from discontinued operations—————1,574——1,574
Depreciation and amortization (2)
 15,89517,7485,7564,1221,316—(594)(105)44,138
Non-cash items other than depreciation and amortization 2781,0432251,73868—3,827—7,179
Investments in equity method accounted investees 10,58823,666—119—17,997(26,545)25,726
Total assets 314,539239,78544,53974,51625,867—200,530(103,899)795,877
Total liabilities 160,511183,90740,28958,65919,105—115,045(110,991)466,525
Investments in capital expenditure (3)
 27,05913,7211,9381,608208—964(183)45,315
    
(1)Includes other companies and corporate (see Note 1).
(2)Includes bottle breakage.
(3)Includes acquisitions of property, plant and equipment, intangible assets, and other long-lived assets.


2024Coca-Cola FEMSAProximity Americas DivisionProximity Europe DivisionHealth DivisionFuel Division
Discontinued operations
Other (1)
Consolidation AdjustmentsConsolidated
Total revenues Ps.279,793 Ps.307,197 Ps.49,755 Ps.79,755 Ps.65,365 Ps.— Ps.20,209 Ps.(20,489)Ps.781,585 
Intercompany revenue 10,193 3,430 — — 176 — 6,690 (20,489)— 
Cost of goods sold151,057 170,204 28,411 55,714 57,430 — 15,904 (18,648)460,072 
Gross profit 128,736 136,993 21,344 24,041 7,935 — 4,305 (1,841)321,513 
Administrative expenses13,678 9,306 3,793 4,348 343 — 8,614 (997)39,085 
Selling expenses74,423 97,989 15,748 16,144 4,792 — 5,657 (2,787)211,966 
Income before income taxes and share of the profit of equity method accounted investees 36,011 18,987 1,116 (1,049)1,218 — 10,265 (1)66,547 
Consolidated net income from continued operations 24,549 15,915 791 (1,644)930 — (419)(1)40,121 
Consolidated net income from discontinued operations— — — — — 115 — — 115 
Depreciation and amortization (2)
 13,659 15,591 5,046 3,668 1,293 — 176 (123)39,310 
Non-cash items other than depreciation and amortization 2,405 975 161 635 44 — 1,396 — 5,616 
Investments in equity method accounted investees  10,233 827 — 1 — — 17,636 — 28,697 
Total assets 307,986 240,312 45,411 73,240 25,320 14,395 259,902 (115,030)851,536 
Total liabilities 157,445 182,428 42,373 57,768 19,528 6,952 114,832 (110,921)470,405 
Investments in capital expenditures (3)
 29,553 16,239 2,270 1,835 398 — 3,200 (2,426)51,069 
(1)Includes other companies and corporate (see Note 1).
(2)Includes bottle breakage.
(3)Includes acquisitions and disposals of property, plant and equipment, intangible assets, and other long-lived assets. The disposals of property, plant and equipment are for Ps. $150.
2023Coca-Cola FEMSAProximity Americas DivisionProximity Europe DivisionHealth DivisionFuel DivisionDiscontinued operationsOther (1)Consolidation AdjustmentsConsolidated
Total revenues Ps.245,088 Ps.278,520 Ps.43,552 Ps.75,358 Ps.58,499 Ps.— Ps.29,652 Ps.(27,977)Ps.702,692 
Intercompany revenue 8,448 1,735 — 3 349 — 17,442 (27,977)— 
Cost of goods sold134,228 161,458 24,930 52,859 51,155 — 24,228 (25,673)423,185 
Gross profit 110,860 117,062 18,622 22,499 7,344 — 5,424 (2,304)279,507 
Administrative expenses12,820 6,514 3,231 2,788 299 — 7,654 (999)32,307 
Selling expenses63,278 84,543 14,371 16,404 4,548 — 7,304 (1,716)188,732 
Income before income taxes and share of the profit of equity method accounted investees 28,792 16,060 388 (166)699 — 26,479 (14,436)57,816 
Consolidated net income from continued operations 20,226 13,767 412 3,753 329 — 20,558 (14,606)44,439 
Consolidated net income from discontinued operations— — — — — 32,238 — — 32,238 
Depreciation and amortization (2)
 10,531 12,937 4,700 3,447 1,137 — 2,646 (1,381)34,017 
Non-cash items other than depreciation and amortization 1,707 509 148 1,296 13 — (328)2 3,347 
Investments in equity method accounted investees 9,246 1,690 — 1 19 — 15,291 — 26,247 
Total assets 273,512 176,836 39,833 64,888 25,124 25,819 294,247 (94,403)805,856 
Total liabilities 139,808 149,131 37,876 48,357 20,267 11,569 111,692 (91,213)427,487 
Investments in capital expenditures (3)
 21,396 13,387 1,654 1,750 186 — 1,659 (1,421)38,611 
(1)Includes other companies and corporate (see Note 1).
(2)Includes bottle breakage.
(3)Includes acquisitions and disposals of property, plant and equipment, intangible assets, and other long-lived assets. The disposals of property, plant and equipment are for Ps. $400.


b)By Geographic Area:
The Company aggregates geographic areas to report geographical information: (i) Mexico and Central America (comprising the following countries: Mexico, Guatemala, Nicaragua, Costa Rica and Panama), (ii) the United States, (iii) South America (comprising the following countries: Brazil, Argentina, Colombia, Chile, Ecuador, Peru and Uruguay) and (iv) Europe (comprised of Valora). For further information related to aggregated geographic areas see Note 28.2 Disaggregation of revenue.
Geographic disclosure for the Company’s non-current assets is as follow:
    20252024
Mexico and Central America (1)
 Ps.330,720Ps.325,771
United States (3)
25,98926,567
South America (2)
 122,991122,915
Europe
 33,06133,972
Consolidated Ps.512,761Ps.509,225
(1)Domestic (Mexico only) non-current assets were Ps. 313,570 and Ps. 306,649, as of December 31, 2025 and 2024, respectively.
(2)South America non-current assets includes Brazil, Argentina, Colombia, Chile, Peru, Uruguay and Ecuador. Brazilian non-current assets were Ps. 64,972 and Ps. 64,208, as of December 31, 2025 and 2024, respectively. Colombia’s non-current assets were Ps. 20,898 and Ps. 20,185, as of December 31, 2025 and 2024, respectively. Argentina’s non-current assets were Ps. 4,982 and Ps. 5,746, as of December 31, 2025 and 2024, respectively. Chile’s non-current assets were Ps.24,237 and Ps. 24,384, as of December 31, 2025 and 2024, respectively. Peru’s non-current assets were Ps 1,325. ,and Ps. 1,455 as of December 31, 2025 and 2024, respectively. Uruguay’s non-current assets were Ps. 2,583 and Ps. 2,345, as of December 31, 2025 and 2024, respectively. Ecuador’s non-current assets were Ps. 3,994 and Ps. 4,592 as of December 31, 2025 and 2024, respectively.
(3)During 2024 the Company completed the acquisition of Delek US Holdings, Inc. See Note 4.1.2