Amounts expressed in millions of Mexican pesos (Ps.) as of December 31:(1) 2011 2010 2009(2) 2008(2) 2007(2)
                     
Income Statement                    
Net sales
  Ps.   201,867  Ps.   168,376  Ps.   158,503  Ps.   132,260  Ps.   113,320
Total revenues
   203,044   169,702   160,251   133,808   114,459
Cost of sales
   118,009   98,732   92,313   77,990   67,492
Gross profit
   85,035   70,970   67,938   55,818   46,967
Operating expenses
   58,131   48,441   46,808   38,469   32,667
Income from operations
   26,904   22,529   21,130   17,349   14,300
Other expenses, net
   2,917   282   1,877   2,019   832
Comprehensive financing result
   783   2,153   2,627   4,682   1,111
Equity Method of Associated
   5,167   3,538   132   90   12
Income taxes
   7,687   5,671   4,959   3,108   3,931
Net income from continuing operations   20,684   17,961   11,799   7,630   8,438
Income from the exchange shares with HKN   0   26,623   0   0   0
Net Income from Discontinuing operations   0   706   3,283   1,648   3,498
    20,684   45,290   15,082   9,278   11,936
Net controlling interest income   15,133   40,251   9,908   6,708   8,511
Net non-controlling interest income   5,551   5,039   5,174   2,570   3,425
Ratios to total revenues(%)                    
Gross margin
   41.9%   41.8%   42.4%   41.7%   41.0%
Operating margin
   13.3%   13.3%   13.2%   13.0%   12.5%
Net income from continuing operations   10.2%   10.6%   7.4%   5.7%   7.4%
Other information
                    
Depreciation   4,604   3,827   3,729   3,276   2,765
Amortization and other non cash charges
to income from operations 		  2,450   2,061   1,773   1,499   1,391
EBITDA   33,958   28,417   26,632   22,124   18,456
Capital expenditures(3)   12,515   11,171   9,103   7,816   5,939
Balance Sheet
                    
Assets                    
Current assets
   58,967   51,460   38,263   27,595   26,988
Current assets
of discontinuing operations 		  0   0   13,450   15,561   15,343
Property, plant and equipment, net(4) (5)   53,402   41,910   40,040   36,463   30,569
Investment in shares   78,972   68,793   2,208   1,850   1,537
Intangible assets   71,608   52,340   51,992   48,539   43,511
Other assets   11,755   9,075   21,135   12,386   11,932
Non current assets
of discontinuing operations		   0   0   58,818   55,640   53,538
Total assets   274,704   223,578   225,906   198,034   183,418


Amounts expressed in millions of Mexican pesos (Ps.) as of December 31:(1) 2011 2010 2009(2) 2008(2) 2007(2)
           
Liabilities          
Short-term debt
 5,573 3,303 8,539 9,269 6,059
Current liabilities
 33.057 27,213 28,679 26,082 22,724
Current liabilities of discontinuing operations
 0 0 10,883 12,912 13,581
Long-term debt
 24,031 22,203 21,260 21,853 23,066
Labor liabilites
 2,258 1,883 1,776 1,500 1,886
Deferred income taxes liabilities
 13,911 10,567 867 1,916 1,810
Other 4,760 5,396 5,857 4,869 6,186
Non current liabilities of discontinuing operations 0 0 32,216 22,738 18,453
Total liabilites 83,590 70,565 110,077 101,139 93,765
Stockholders’ equity 191.114 153,013 115,829 96,895 89,653
Controlling interest 133,580 117,348 81,637 68,821 64,578
Non-controlling interest 57,534 35,665 34,192 28,074 25,075
Financial ratios (%)          
Liquidity 1.526 1.696 1.028 0.791 0.938
Leverage 0.437 0.461 0.950 1.044 1.046
Capitalization 0.14 0.15 0.22 0.26 0.26
Data per share          
Book value (6) 7.466 6.559 4.563 3.847 3.609
Net income (7) 0.846 2.250 0.554 0.375 0.476
Dividends paid (8)          
Series B shares 0.229 0.130 0.081 0.081 0.074
Series D shares
 0.287 0.162 0.101 0.101 0.093
Number of employees from continuing operations 177,470 153,809 139,867 129,289 105,020
Number of outstanding shares(9) 17,891.13 17,891.13 17,891.13 17,891.13 17,891.13


(1) Amounts as of December 31, 2007 are expressed in millions of pesos as of December 31, 2007
(2) The figures for these years were restated for comparison with the current period as a result of exchange of 100% of FEMSA Cerveza for 20% economic interest in the Heineken Group.
(3) Includes investments in property, plant and equipment, as well as deferred charges and intangible assets.
(4) Includes bottles and cases
(5) Property, plant and equipment paid in advance of prior years was reclassified to other assets for comparable purposes in accordance with NIF C-5 which came into effect on January 1, 2011.
(6) Controlling interest divided by the total number of shares outstanding at the end of each year.
(7) Net controlling interest income divided by the total number of shares outstanding at the end of each year.
(8) Expressed in nominal pesos of each year
(9) Total number of shares outstanding at the end of each year expressed in millions.



© FEMSA 2012