by your side,

2022 integrated annual report

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by your side, always 

The world around us is changing: new technologies allow us to stay permanently connected to the world, while opening up the possibility to improve our efficiency in areas such as energy, water and waste.

The world is going through great transformations in response to the macroeconomic environment, geopolitical changes and the fluctuations of global markets – propelled by urgent sustainable development issues, from climate change and nature loss to inequality and social justice.

In response, global citizens and consumers are changing their patterns, preferences and priorities, becoming more aware of their health and environment, while demanding the equitable treatment and human rights they deserve. They are becoming more informed, digitized and connected while acting with greater purpose and passion.

At FEMSA, we have transformed ourselves to ensure that we are agents of positive change in our communities. We have reinforced our purpose, placing our customers and consumers at the center of everything we do.

Our inspiration has always been, and will continue to be, the people we serve and the many stakeholders we are proud to stand beside. By your side, always.

As a testament to the transparency and open communication channels we strive to maintain with all our stakeholders, we are pleased to share with you a summary of our progress and ongoing transformations in this 2022 Integrated Annual Report.


There is always a FEMSA product or service close to you, wherever you are...

The initiatives and actions of our more than 354,000 employees always aim toward sustainable growth and the creation of economic and social value...

+130 years of history reflects the strength of our foundation and represents a springboard to our shared future.


company overview & 2022 results 

We operate our business through the following structure:

corporate structure
equity stakes and business units

  1. Includes FEMSA Proximity (Americas and Europe), Fuel and Health.
  2. Represents 56% of voting rights. Coca-Cola FEMSA equity stake comprises 27.8% The Coca-Cola Company and 25.0% Public.
  3. On February 16th, 2023, the Company sold a portion of its HEINEKEN Investment in the total amount of EUR 3,200 million in an all cash transaction. Following the completion of the sale, FEMSA’s economic interest decreased from 14.76% to 8.13%. As a result, FEMSA-appointed directors resigned from the HEINEKEN Boards, and the Company lost its significant influence over this investment.
  4. Includes Grupo Nós.

For more information, please see FEMSA’s Form 20-F 2022.

US$ 34.5 billion total revenues 2022
+23,500 OXXO Stores in Latin America4
~270 million people served by Coca-Cola FEMSA

our presence 


Coca-Cola FEMSA


FEMSA Strategic Businesses


* Includes: FEMSA Proximity (Americas and Europe), Fuel and Health.

We have more than 354,000 employees in 18 different countries, across the globe through our Business Units at the end of 2022.5

  1. As of December 31, 2017, as a non-consolidated operation, Venezuela is reported as an investment in shares.

looking ahead: FEMSA Forward 

During 2022, FEMSA carried out a thorough strategic review of our business platform, including the bottom-up definition of long-range plans for each business unit, as well as the top-down analysis of the optimal corporate and capital structure, to ensure full alignment between the Board and management as to how to pursue and maximize value creation.


Consistent with this vision, FEMSA has determined that the best path to maximize long-term value creation is by focusing on its core business verticals beginning in 2023, which have the highest strategic relevance, growth potential and financial and competitive strength:

  • Retail, with excellent long-term growth opportunities, comprised of Proximity (Americas and Europe), Fuel and Health.
  • Coca-Cola FEMSA, leveraging its leading competitive position and excellent execution, combined with significant financial strength and strategic opportunities.
  • Digital@FEMSA, building a powerful value-added per financial and digital ecosystem, while playing a key role in leveraging the connection among FEMSA’s core business units.

has determined that the best path to maximize long-term value creation is by focusing on its core business verticals beginning in 2023: Retail, Coca-Cola FEMSA and Digital@FEMSA.