Some warehousing operations, as well as distribution, logistics and refrigeration businesses no longer fit into the company’s strategy and could be sold, detailed.
The Femsa shares They have risen more than 40% this year after plunging 4.8% in 2022, while asset sales in 2023 have raised more than $7 billion.
Other Mexican companies have also moved to simplify their structure, by spinning off some businesses, such as the television network Televisa and the Alfa conglomerate, although their actions have not responded as positively.
Femsa, which last year acquired Swiss kiosk operator Valora for $1.15 billion, plans to focus on its retail, bottling and technology operations financial (fintech).
In addition, it is capitalizing on the ubiquity of its Oxxo stores by promoting fintech services in them, such as digital accounts and debit cards, Fonseca explained.
The company’s fintech business, called Spin, is scheduled to reach 10 million customers by 2024 from about 8.8 million now, he said.
Another potential strategy for Spin could consist of channeling Mexican remittances from abroad through the platform, which reached $47 billion between January and September, the executive added.
Femsa reported a 9% drop in third-quarter net profit, citing the impact of the strong Mexican peso, which Fonseca said could be offset in the short term by hedging.
The increase in the costs of raw materials and labor, caused by the annual salary increases imposed by the Mexican government, are the two biggest challenges for the growth of the company, whose scaled business has allowed it to automate some processes and You are looking for ways to reduce energy costs.