FEMSA Copyright 2016

Consolidated Financial Statements

 
 

Consolidated Income Statements

FOMENTO ECONÓMICO MEXICANO, S.A.B. DE C.V. AND SUBSIDIARIES
MONTERREY, N.L., MEXICO

For the years ended December 31, 2015, 2014 and 2013.
Amounts expressed in millions of U.S. dollars ($) and in millions of Mexican pesos (Ps.),
except per share amounts.

  Note   2015(*)   2015   2014   2013
Net sales   $ 18,078 Ps. 310,849 Ps. 262,779 Ps. 256,804
Other operating revenues     43   740   670   1,293
Total revenues     18,121   311,589   263,449   258,097
Cost of goods sold     10,957   188,410   153,278   148,443
Gross profit     7,164   123,179   110,171   109,654
Administrative expenses     681   11,705   10,244   9,963
Selling expenses     4,442   76,375   69,016   69,574
Other income 19   24   423   1,098   651
Other expenses 19   (159)   (2,741)   (1,277)   (1,439)
Interest expense 18   (452)   (7,777)   (6,701)   (4,331)
Interest income     59   1,024   862   1,225
Foreign exchange loss, net     (69)   (1,193)   (903)   (724)
Monetary position loss, net     (2)   (36)   (319)   (427)
Market value gain on financial instruments     21   364   73   8
Income before income taxes and share of the profit of associates and joint ventures accounted for using the equity method     1,463   25,163   23,744   25,080
Income taxes 24   461   7,932   6,253   7,756
Share of the profit of associates and joint ventures accounted
for using the equity method, net of taxes 		10   352   6,045   5,139   4,831
Consolidated net income   $ 1,354 Ps. 23,276 Ps. 22,630 Ps. 22,155
Attributable to:                  
Controlling interest     1,029   17,683   16,701   15,922
Non-controlling interest     325   5,593   5,929   6,233
Consolidated net income   $ 1,354 Ps. 23,276 Ps. 22,630 Ps. 22,155
Basic net controlling interest income:                  
Per series “B” share 23 $ 0.05 Ps. 0.88 Ps. 0.83 Ps. 0.79
Per series “D” share 23   0.06   1.10   1.04   1.00
Diluted net controlling interest income:                  
Per series “B” share 23   0.05   0.88   0.83   0.79
Per series “D” share 23   0.06   1.10   1.04   0.99

(*) Convenience translation to U.S. dollars ($) – See Note 2.2.3
The accompanying notes are an integral part of these consolidated income statements.