Shareholder information

Shareholder information

Letter to Shareholders

This was an exciting, eventful, and transformational year. Our company overcame an extremely challenging macroeconomic, fiscal, and consumer environment to deliver top-line growth across our territories and bottom-line improvement in Mexico, Brazil, Venezuela, Argentina, and Central America.


Shareholding structure

On April 11, 2019, Coca-Cola FEMSA completed the previously announced eight-for-one stock split, the issuance of new Series B shares (with full voting rights) and the creation and listing of KOF UBL units. As a result, (a) Series A and Series D split eight-for-one, and (b) for each Series L shares (KOF L), its holders received a new KOF UBL unit that replaces the previous KOF L. Each new KOF UBL unit consists of 3 Series B shares and 5 Series L shares (with limited voting rights). As of the same date, KOF UBL units were listed for trading on the Mexican Stock Exchange (BMV) under ticker symbol KOF UBL and ADSs (each representing 10 units) were listed for trading on the New York Stock Exchange (NYSE) under ticker symbol KOF.

  • FEMSA owns these shares through its wholly owned subsidiary Compañía Internacional de Bebidas, S.A. de C.V. Approximately 74.9% of the voting stock of FEMSA is owned by the technical committee and trust participants under Irrevocable Trust No. 463 established at Banco Invex, S.A. Institución de Banca Múltiple, Invex Grupo Financiero, as Trustee. As a consequence of the voting trust’s internal procedures, the following trust participants are deemed to have beneficial ownership with shared voting power of the shares deposited in the voting trust: BBVA Bancomer, S.A., as Trustee under Trust No. F/25078-7 (controlled by the estate of Max Michel Suberville), J.P. Morgan Trust Company (New Zealand) Limited as Trustee under a trust controlled by Paulina Garza Lagüera Gonda, Max Brittingham, Maia Brittingham, Bárbara Garza Lagüera Gonda, Bárbara Braniff Garza Lagüera, Eugenia Braniff Garza Lagüera, Lorenza Braniff Garza Lagüera, Mariana Garza Lagüera Gonda, Paula Treviño Garza Lagüera, Inés Treviño Garza Lagüera, Eva Maria Garza Lagüera Gonda, Eugenio Fernández Garza Lagüera, Daniela Fernández Garza Lagüera, Eva María Fernández Garza Lagüera, José Antonio Fernández Garza Lagüera, Eva Gonda Rivera, Inversiones Bursátiles Industriales, S.A. de C.V. (controlled by the Garza Lagüera family), Consuelo Garza Lagüera de Garza, Alfonso Garza Garza, Juan Pablo Garza García, Alfonso Garza García, María José Garza García, Eugenia Maria Garza García, Patricio Garza Garza, Viviana Garza Zambrano, 

    Patricio Garza Zambrano, Marigel Garza Zambrano, Ana Isabel Garza Zambrano, Juan Carlos Garza Garza, José Miguel Garza Celada, Gabriel Eugenio Garza Celada, Ana Cristina Garza Celada, Juan Carlos Garza Celada, Eduardo Garza Garza, Eduardo Garza Páez, Balbina Consuelo Garza Páez, Eugenio Andrés Garza Páez, Eugenio Garza Garza, Camila Garza Garza, Ana Sofía Garza Garza, Celina Garza Garza, Marcela Garza Garza, Carolina Garza Villarreal, Alepage, S.A. (controlled by Consuelo Garza Lagüera de Garza), Alberto Bailleres González, Maria Teresa Gual de Bailleres, Corbal, S.A. de C.V. (controlled by Alberto Bailleres González), BBVA Bancomer, S.A., as Trustee under Trust No. F/29490-0 (controlled by Alberto, Susana and Cecilia Bailleres), Magdalena Michel de David, the estate of Max Michel Suberville, Max David Michel, Juan David Michel, Monique David de VanLathem, Renee Michel de Guichard, Magdalena Guichard Michel, Rene Guichard Michel, Miguel Guichard Michel, Graciano Guichard Michel, Juan Guichard Michel, BBVA Bancomer, S.A., as Trustee under Trust No. F/710004 (controlled by Magdalena Michel de David), BBVA Bancomer, S.A., as Trustee under Trust No. F/700005 (controlled by Renee Michel de Guichard), Franca Servicios, S.A. de C.V. (controlled by the Calderón Rojas family), and BBVA Bancomer, S.A. as Trustee under Trust No. F/29013-0 (controlled by the Calderón Rojas family)

  • The Coca-Cola Company indirectly owns these shares through its wholly owned subsidiaries, The Inmex Corporation and Dulux CBAI 2003 B.V

  • Series B shares and Series L shares trade together as units (each unit consisting of 3 Series B shares and 5 Series L shares). Series B shares grant full voting rights and Series L shares only grant the right to vote in limited circumstances. Holders of ADSs are entitled, subject to certain exceptions, to instruct The Bank of New York Mellon, the ADS depositary, as to the voting rights pertaining to the Series B shares and the limited voting rights pertaining to the Series L shares, in each case underlying our units represented by ADSs. As of today, there are 525,208,065 units.

  • 16,806,658,096Total Oustanding Capital Stock

  • 47.2%

    Outstanding Capital Stock

    Voting Rights

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  • 27.8%

    Outstanding Capital Stock

    Voting Rights

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  • Serie L 15.6% Serie B9.4%





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    • b

      • Bottle Plant

        The PET Plant Bottle is a bottle made from the combination of traditional PET and materials extracted from plants. These bottles reduce dependence of non-renewable resources like oil; they are completely recyclable and help reduce the carbon footprint.

    • c

      • Carbonated beverage

        Refreshing liquid made with carbonated water, also known as soda, with or without flavoring that contains carbon dioxide, which bubbles when the beverage is opened or is depressurized.

      • Consumer

        Person who consumes Coca-Cola FEMSA’s products.

      • Consumption per Capita

        The number of eight-ounce servings consumed per person per year in a specific market. To calculate the per capita consumption, the company multiplies its unit case volume by 24 and then divides it by the total number of population.

      • Customer

        Retail outlet, restaurants or other establishments that sell or serve the company's products directly to consumers.

    • e

      • Energy Drinks

        Non-alcoholic beverage with stimulating properties that offer consumers regenerative fatigue and exhaustion, while increasing mental ability.

    • f

      • FEMSA

        Is a leading company that participates in the beverage industry operating as Coca-Cola FEMSA, the largest public bottler of Coca-Cola products in the world, and in the brewing industry being the second largest shareholder of Heineken, one of the leading brewers in the world with presence in more than 70 countries. In retail trade, FEMSA participates with FEMSA Comercio, branch that operates in various chains of small format, highlighting OXXO as the largest and fastest growing chain in Latin America. All this supported by a Strategic Business area.

    • i

      • ISO

        International Organization for Standardization, responsible for creating standards or international regulations.

      • Isotonic beverage

        This category is consumed before, during and after exercise. Sport drinks main target are high performance athletes that need to replace minerals they lose through sweat, besides of contributing to metabolize carbohydrates and energy.

    • k

      • KOF

        Name which Coca -Cola FEMSA is listed on the Stock Exchange.

    • n

      • Non-carbonated beverages

        Grouping category containing all of our non-carbonated products.

    • p

      • PET

        Poly Ethylene Terephthalate commonly abbreviated as PET, is the most common type of plastic that has the characteristics of being flexible, lightweight and plus it is harmless to people’s health and very friendly to recycle.

      • Positive transformation

        In Coca-Cola FEMSA we understand the need of meeting the challenges of the environment through responsible and consistent practices that allow us to focus efforts and ensure the achievement of our goals. This process also has as main objective of improving the efficiency and effectiveness of our company, develop and strengthen our capabilities and continue to evolve our culture.

    • s

      • Serving

        Measurement unit equal to 8 fluid ounces.

      • Sustainability

        In Coca Cola FEMSA, this term is understood as the simultaneous generation of economic, social and environmental value through responsible and consistent business practices that allow us to positively transform our environment. Also, create initiatives focused on the availability of drinking water in our communities, as well as proper management of waste and recycling, development of processes and friendly packages to the environment, and finally, reforestation and minimization of energy use in our value chain and mitigation of the effects in climate change.

    • t

      • The Coca-Cola Company

        Established in 1886, The Coca-Cola Company is the world's largest beverage company, refreshing its consumers with more than 500 brands of soft drinks and non-carbonated beverages. The Coca-Cola Company headquarters are located in Atlanta, with local operations in more than 200 countries around the world.

    • u

      • Unit Case

        Measurement unit equivalent to 24 8-ounce servings.

    • v

      • Values

        Ideals shared by members of the company that determine what is acceptable and what is not. Therefore, we provide parameters for decision-making and performance of the company as well as criteria to evaluate the performance of each one of the mentioned before.