KOF - 2022 Integrated Report

Amounts expresed in millions of U.S. dollars and Mexican
pesos, except data per share and headcount.

	U.S. (*)	2022⁽⁶⁾	2021	2020	2019	2018^{(3) (4) (5)}	2017^{(1) (2) (3)}
Income Statement
Total revenues	11,630	226,740	194,804	183,615	194,471	182,342	183,256
Cost of goods solds	6,485	126,440	106,206	100,804	106,964	98,404	99,748
Gross profit	5,145	100,300	88,598	82,811	87,507	83,938	83,508
Operative expenses	3,538	68,981	60,720	56,444	60,537	57,924	58,044
Other expenses, net	50	983	807	3,611	2,490	1,881	31,357
Comprehensive financing result	233	4,549	4,219	6,678	6,071	6,943	5,362
Income before income taxes and share of the profit or of associates and joint ventures accounted for using the equity method	1,323	25,787	22,852	16,077	18,409	17,190	(11,255)
Income taxes	336	6,547	6,609	5,428	5,648	5,260	4,184
Share in the profit (loss) of equity accounted investees, net of taxes	20	386	88	(281)	(131)	(226)	60
Consolidated net income	1,007	19,626	16,331	10,368	12,630	15,070	(11,654)
Equity holders of the parent for continuing operations	976	19,034	15,708	10,307	12,101	10,936	(16,058)
Non-controlling interest net income for continuing operations	30	592	623	61	529	768	679
Ratios To Revenues (%)
Gross margin	44.2	44.2	45.5	45.1	45.0	46.0	45.6
Net income margin	8.7	8.7	8.4	5.6	6.5	8.3	(6.4)
Cash Flow
Operative cash flow	1,820	35,491	32,721	35,147	31,289	29,687	33,236
Capital expenditures ⁽⁷⁾	1,009	19,665	13,865	10,354	11,465	11,069	14,612
Total cash, cash equivalents	2,066	40,277	47,248	43,497	20,491	23,727	18,767
Balance Sheet
Current assets	4,063	79,212	80,364	72,440	56,796	57,490	55,657
Investment in shares	434	8,452	7,494	7,623	9,751	10,518	12,540
Property, plant and equipment, net	3,652	71,205	62,183	59,460	61,187	61,942	75,827
Intangible assets, net	5,289	103,122	102,174	103,971	112,050	116,804	124,243
Deferred charges and other assets, net	821	16,004	17,880	18,294	16,673	17,033	17,410
Total assets	14,259	277,995	271,567	263,066	257,839	263,787	285,677
Liabilities
Short-term bank loans and notes payable	437	8,524	2,453	5,017	11,485	11,604	12,171
Interest payable	44	862	811	712	439	497	487
Other current liabilities	2,491	48,574	42,957	37,116	39,086	33,423	42,936
Long-term bank loans and notes payable	3,598	70,145	83,329	82,461	58,492	70,201	71,189
Other long-term liabilities	924	18,014	14,445	15,303	18,652	16,312	18,184
Total liabilities	7,495	146,119	143,995	140,609	128,154	132,037	144,967
Equity	6,764	131,876	127,572	122,457	129,685	131,750	140,710
Non-controlling interest in consolidated subsidiaries	333	6,491	6,022	5,583	6,751	6,806	18,141
Equity attributable to equity holders of the parent	6,431	125,385	121,550	116,874	122,934	124,944	122,569
Financial Ratios (%)
Current	1.37	1.37	1.74	1.69	1.11	1.26	1.00
Leverage	1.11	1.11	1.13	1.15	0.99	1.00	1.03
Capitalization	0.39	0.39	0.41	0.43	0.37	0.41	0.39
Coverage	8.68	8.68	6.11	5.13	5.51	4.22	4.20
Data Per Share
Book Value ⁽⁸⁾	0.383	7.460	7.232	6.954	7.315	7.434	7.293
Income (loss) atributable to the holders of the parent ⁽⁹⁾	0.058	1.133	0.935	0.610	0.723	0.831	(0.765)
Dividends paid ⁽¹⁰⁾	0.035	0.679	0.634	0.608	0.443	0.419	0.422
Headcount ⁽¹¹⁾	97,211	97,211	83,754	82,334	82,186	83,364	79,636

* Exchange rate as of December 31, 2022 Ps. 19.496 per U.S. dollar solely for the convenience of the reader according to the federal USA reserve.