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MX_FEMSA 2026-06-30 Q2 — report review

Status: OK — incomplete — unset metrics listed below; Currency: MXN; Amounts unit: millions; Forms: ✓ ✓ —

Report published: Not stored for this period — set financial_report_date on the row (EDGAR filingDate, KASE change_date, or manual_catalog).

Full financial report: Link

PDF: Open the filing PDF (primary document)

To recalculate statement detection and previews from the PDF, use this link The default link runs in the background: a status panel shows phase, elapsed time, rough ETA, CUDA vs CPU, and OOM hints, then loads the finished report. Heavy mode with refresh does this automatically so reverse proxies do not return 502. Add &sync=1 only for one long blocking request (not recommended). You can use ?refresh=1, ?recalc=1, ?nocache=1, or ?recompute=1 on the URL. (block in the browser until done: synchronous refresh)

Default view is fast (metric table + statement page numbers only) so reverse proxies do not time out. Use ?heavy=1 when you need embedded page images and Camelot tables.

Metric mapping (value → extracted evidence)

Metric values use dashboard units where applicable; evidence is the stored snippet from the PDF text layer or OCR used during extraction.

Net debt structure (leases included, IFRS 16)

Net debt / LTM EBITDA: 0.4x

EBITDA → net profit bridge

The finance-costs/tax line is derived as EBIT minus net profit; see the filing PDF above for the detailed split.

Statement pages (discovery)

Below: last full statement reconstruction (PDF scans + tables + subtotal checks) cached from a ?heavy=1 run. Open heavy mode to rebuild if the PDF, discovery, or extraction changed. full previews & tables (?heavy=1).

Statement previews & reconstructed tables

Highlights Yellow row = matched stored evidence label; orange cell = exact number used for that metric (hover row for details). Revenue Operating profit D&A EBITDA Net profit cash debt_short debt_long Assets Equity Operating CF Investing CF

Green / amber / red bars on the label column mark subtotal rows where summed detail lines match the reported total (heuristic). The table under each reconstructed grid lists every check (Σ detail vs reported, status).

P&L

Tables and checks run on 2 of 3 PDF pages for this form (timeout budget). Raise REPORT_REVIEW_HEAVY_RECON_PAGES for more.

P&L — PDF page 11

No Camelot table — OCR (v8) below.

v8 OCR page 11: empty rows.

P&L — PDF page 12

Camelot table (pages 12, primary page 12).

#	Joined label	Line item	2026	of rev.	2025	of rev.	% Var.	% Comp.(A)
0	For the first quarter of:				For the first quarter of:
1	% %			%		%
2	2026 2025 % Var. % Comp.(A)		2026		2025		% Var.	% Comp.(A)
3	of rev. of rev.			of rev.		of rev.
4	Total revenues 207,784 100.0 195,819 100.0 6.1 8.5	Total revenues	207,784	100.0	195,819	100.0	6.1	8.5
5	Cost of sales 123,690 59.5 116,901 59.7 5.8	Cost of sales	123,690	59.5	116,901	59.7	5.8
6	Gross profit 84,094 40.5 78,918 40.3 6.6 9.1	Gross profit	84,094	40.5	78,918	40.3	6.6	9.1
7	Administrative expenses 10,195 4.9 9,967 5.1 2.3	Administrative expenses	10,195	4.9	9,967	5.1	2.3
8	Selling expenses 59,433 28.6 55,423 28.3 7.2	Selling expenses	59,433	28.6	55,423	28.3	7.2
9	Other operating expenses (income), net (1) 152 0.1 (36) (0.0) (522.2)	Other operating expenses (income), net (1)	152	0.1	(36)	(0.0)	(522.2)
10	Income from operations (2) 14,314 6.9 13,564 6.9 5.5 12.1	Income from operations (2)	14,314	6.9	13,564	6.9	5.5	12.1
11	Other non-operating expenses (income) (11,925) 830 (1,536.7)	Other non-operating expenses (income)	(11,925)		830		(1,536.7)
12	Interest expense 5,470 5,180 5.6	Interest expense	5,470		5,180		5.6
13	Interest income 1,173 2,134 (45.0)	Interest income	1,173		2,134		(45.0)
14	Interest expense, net 4,296 3,046 41.0	Interest expense, net	4,296		3,046		41.0
15	Foreign exchange loss (gain) 444 (439) (201.1)	Foreign exchange loss (gain)	444		(439)		(201.1)
16	Other financial expenses (income), net 96 (1,194) (108.0)	Other financial expenses (income), net	96		(1,194)		(108.0)
17	Financing expenses, net 4,837 1,412 242.6	Financing expenses, net	4,837		1,412		242.6
18	Income before income tax and	Income before income tax and
19	21,402 11,321 89.0		21,402		11,321		89.0
20	participation in associates results	participation in associates results
21	Income tax 3,664 4,780 (23.3)	Income tax	3,664		4,780		(23.3)
22	Participation in associates results (99) (88) 12.5	Participation in associates results	(99)		(88)		12.5
23	Continued Operations net income (Loss) 17,639 6,453 173.3	Continued Operations net income (Loss)	17,639		6,453		173.3
24	Discontinued Operations net income (Loss) - 2,490 (100.0)	Discontinued Operations net income (Loss)	-		2,490		(100.0)
25	Consolidated net income (Loss) 17,639 8,942 97.3	Consolidated net income (Loss)	17,639		8,942		97.3
26	Net majority income 14,826 5,804 155.4	Net majority income	14,826		5,804		155.4
27	Net minority income 2,813 3,136 (10.3)	Net minority income	2,813		3,136		(10.3)
28	% %			%		%
29	Operative Cash Flow & CAPEX 2026 2025 % Var. % Comp.(A)	Operative Cash Flow & CAPEX	2026		2025		% Var.	% Comp.(A)
30	of rev. of rev.			of rev.		of rev.
31	Income from operations 14,314 6.9 13,564 6.9 5.5 12.1	Income from operations	14,314	6.9	13,564	6.9	5.5	12.1
32	Depreciation 10,455 5.0 9,732 5.0 7.4	Depreciation	10,455	5.0	9,732	5.0	7.4
33	Amortization & other non-cash charges 3,358 1.6 2,006 1.0 67.4	Amortization & other non-cash charges	3,358	1.6	2,006	1.0	67.4
34	Adjusted EBITDA 28,127 13.5 25,302 12.9 11.2 15.8	Adjusted EBITDA	28,127	13.5	25,302	12.9	11.2	15.8
35	CAPEX 6,195 8,788 (29.5)	CAPEX	6,195		8,788		(29.5)

Subtotals vs summed lines (heuristic)

For each recognised total/subtotal row, amounts in the detected reporting column are summed over preceding detail rows until another subtotal or a lookback limit. This mirrors coarse PHP-style checks; it is not a full chart-of-accounts reconciliation.

Row	Label (trimmed)	Σ detail	Reported	|Δ|/scale	Status
6	Gross profit 84,094 40.5 78,918 40.3 6.6 9.1	86,120	84,094	0.0235	Warn (3 lines)

BS

Tables and checks run on 2 of 3 PDF pages for this form (timeout budget). Raise REPORT_REVIEW_HEAVY_RECON_PAGES for more.

BS — PDF page 12

Camelot table (pages 12, primary page 12).

#	Joined label	Line item	2026	of rev.	2025	of rev.	% Var.	% Comp.(A)
0	For the first quarter of:				For the first quarter of:
1	% %			%		%
2	2026 2025 % Var. % Comp.(A)		2026		2025		% Var.	% Comp.(A)
3	of rev. of rev.			of rev.		of rev.
4	Total revenues 207,784 100.0 195,819 100.0 6.1 8.5	Total revenues	207,784	100.0	195,819	100.0	6.1	8.5
5	Cost of sales 123,690 59.5 116,901 59.7 5.8	Cost of sales	123,690	59.5	116,901	59.7	5.8
6	Gross profit 84,094 40.5 78,918 40.3 6.6 9.1	Gross profit	84,094	40.5	78,918	40.3	6.6	9.1
7	Administrative expenses 10,195 4.9 9,967 5.1 2.3	Administrative expenses	10,195	4.9	9,967	5.1	2.3
8	Selling expenses 59,433 28.6 55,423 28.3 7.2	Selling expenses	59,433	28.6	55,423	28.3	7.2
9	Other operating expenses (income), net (1) 152 0.1 (36) (0.0) (522.2)	Other operating expenses (income), net (1)	152	0.1	(36)	(0.0)	(522.2)
10	Income from operations (2) 14,314 6.9 13,564 6.9 5.5 12.1	Income from operations (2)	14,314	6.9	13,564	6.9	5.5	12.1
11	Other non-operating expenses (income) (11,925) 830 (1,536.7)	Other non-operating expenses (income)	(11,925)		830		(1,536.7)
12	Interest expense 5,470 5,180 5.6	Interest expense	5,470		5,180		5.6
13	Interest income 1,173 2,134 (45.0)	Interest income	1,173		2,134		(45.0)
14	Interest expense, net 4,296 3,046 41.0	Interest expense, net	4,296		3,046		41.0
15	Foreign exchange loss (gain) 444 (439) (201.1)	Foreign exchange loss (gain)	444		(439)		(201.1)
16	Other financial expenses (income), net 96 (1,194) (108.0)	Other financial expenses (income), net	96		(1,194)		(108.0)
17	Financing expenses, net 4,837 1,412 242.6	Financing expenses, net	4,837		1,412		242.6
18	Income before income tax and	Income before income tax and
19	21,402 11,321 89.0		21,402		11,321		89.0
20	participation in associates results	participation in associates results
21	Income tax 3,664 4,780 (23.3)	Income tax	3,664		4,780		(23.3)
22	Participation in associates results (99) (88) 12.5	Participation in associates results	(99)		(88)		12.5
23	Continued Operations net income (Loss) 17,639 6,453 173.3	Continued Operations net income (Loss)	17,639		6,453		173.3
24	Discontinued Operations net income (Loss) - 2,490 (100.0)	Discontinued Operations net income (Loss)	-		2,490		(100.0)
25	Consolidated net income (Loss) 17,639 8,942 97.3	Consolidated net income (Loss)	17,639		8,942		97.3
26	Net majority income 14,826 5,804 155.4	Net majority income	14,826		5,804		155.4
27	Net minority income 2,813 3,136 (10.3)	Net minority income	2,813		3,136		(10.3)
28	% %			%		%
29	Operative Cash Flow & CAPEX 2026 2025 % Var. % Comp.(A)	Operative Cash Flow & CAPEX	2026		2025		% Var.	% Comp.(A)
30	of rev. of rev.			of rev.		of rev.
31	Income from operations 14,314 6.9 13,564 6.9 5.5 12.1	Income from operations	14,314	6.9	13,564	6.9	5.5	12.1
32	Depreciation 10,455 5.0 9,732 5.0 7.4	Depreciation	10,455	5.0	9,732	5.0	7.4
33	Amortization & other non-cash charges 3,358 1.6 2,006 1.0 67.4	Amortization & other non-cash charges	3,358	1.6	2,006	1.0	67.4
34	Adjusted EBITDA 28,127 13.5 25,302 12.9 11.2 15.8	Adjusted EBITDA	28,127	13.5	25,302	12.9	11.2	15.8
35	CAPEX 6,195 8,788 (29.5)	CAPEX	6,195		8,788		(29.5)

No subtotal/total rows matched the built-in patterns on this table (or fewer than two detail lines above each candidate).

BS — PDF page 13

Camelot table (pages 13, primary page 13).

#	Joined label	Line item	Mar-26	Mar-25	% Inc.	Column 5	LIABILITIES & STOCKHOLDERS’ EQUIT…	Mar-26	Mar-25	% Inc.
0	F EMSA – Consolidated Balance Sheet	F EMSA – Consolidated Balance Sheet
1	Amounts expressed in millions of Mexican Pesos (Ps.)	Amounts expressed in millions of Mexican Pesos (Ps.)
2	A SSETS Mar-26 Mar-25 % Inc. LIABILITIES & STOCKHOLDERS’ EQUITY Mar-26 Mar-25 % Inc.	A SSETS	Mar-26	Mar-25	% Inc.		LIABILITIES & STOCKHOLDERS’ EQUITY	Mar-26	Mar-25	% Inc.
3	Cash and cash equivalents 106,905 107,980 (1.0) Bank loans 2,396 5,862 (59.1)	Cash and cash equivalents	106,905	107,980	(1.0)		Bank loans	2,396	5,862	(59.1)
4	Investments 7,672 20,042 (61.7) Current maturities of long-term debt 4,297 14,812 (71.0)	Investments	7,672	20,042	(61.7)		Current maturities of long-term debt	4,297	14,812	(71.0)
5	Accounts receivable 43,863 48,319 (9.2) Interest payable 1,951 1,790 9.0	Accounts receivable	43,863	48,319	(9.2)		Interest payable	1,951	1,790	9.0
6	Inventories 67,656 69,452 (2.6) Current maturities of long-term leases 15,920 15,188 4.8	Inventories	67,656	69,452	(2.6)		Current maturities of long-term leases	15,920	15,188	4.8
7	Other current assets 43,228 37,324 15.8 Operating liabilities 208,407 172,361 20.9	Other current assets	43,228	37,324	15.8		Operating liabilities	208,407	172,361	20.9
8	Current Assets Available for sale - - . Short term liabilities available for sale - - .	Current Assets Available for sale	-	-	.		Short term liabilities available for sale	-	-	.
9	Total current assets 269,324 283,117 (4.9) Total current liabilities 232,971 210,013 10.9	Total current assets	269,324	283,117	(4.9)		Total current liabilities	232,971	210,013	10.9
10	Investments in shares 35,875 25,726 39.5 Long-term debt (2) 137,330 126,992 8.1	Investments in shares	35,875	25,726	39.5		Long-term debt (2)	137,330	126,992	8.1
11	Property, plant and equipment, net 193,232 189,674 1.9 Long-term leases 97,814 94,703 3.3	Property, plant and equipment, net	193,232	189,674	1.9		Long-term leases	97,814	94,703	3.3
12	Right of use 102,556 99,543 3.0 Laboral obligations 10,791 10,719 0.7	Right of use	102,556	99,543	3.0		Laboral obligations	10,791	10,719	0.7
13	Intangible assets (1) 147,427 145,503 1.3 Other liabilities 28,125 24,100 16.7	Intangible assets (1)	147,427	145,503	1.3		Other liabilities	28,125	24,100	16.7
14	Other assets 52,919 52,315 1.2 Total liabilities 507,031 466,527 8.7	Other assets	52,919	52,315	1.2		Total liabilities	507,031	466,527	8.7
15	Total stockholders’ equity 294,302 329,351 (10.6)						Total stockholders’ equity	294,302	329,351	(10.6)
16	TOTAL ASSETS 801,333 795,878 0.7 TOTAL LIABILITIES AND STOCKHOLERS’ EQUITY 801,333 795,878 0.7	TOTAL ASSETS	801,333	795,878	0.7		TOTAL LIABILITIES AND STOCKHOLERS’ EQUITY	801,333	795,878	0.7
17	March 31, 2026		March 31, 2026
18	Average			Average
19	DEBT MIX (2) % of Total	DEBT MIX (2)	% of Total
20	Rate			Rate
21	Denominated in:	Denominated in:
22	Mexican pesos 53.4% 8.7%	Mexican pesos	53.4%	8.7%
23	U.S. Dollars 27.0% 3.5%	U.S. Dollars	27.0%	3.5%
24	Euros 7.2% 2.6%	Euros	7.2%	2.6%
25	Swiss Francs 0.0% 0.0%	Swiss Francs	0.0%	0.0%
26	Colombian pesos 1.6% 8.6%	Colombian pesos	1.6%	8.6%
27	Argentine pesos 0.4% 36.2%	Argentine pesos	0.4%	36.2%
28	Brazilian reais 9.3% 10.9%	Brazilian reais	9.3%	10.9%
29	Chilean pesos 1.1% 6.0%	Chilean pesos	1.1%	6.0%
30	Total debt 100.0% 7.2%	Total debt	100.0%	7.2%
31	Fixed rate (2) 83.5%	Fixed rate (2)	83.5%
32	Variable rate (2) 16.5%	Variable rate (2)	16.5%
33	DEBT MATURITY PROFILE 2026 2027 2028 2029 2030 2031+	DEBT MATURITY PROFILE		2026	2027	2028	2029 2030 2031+
34	% of Total Debt 13.9% 7.9% 10.9% 3.8% 12.2% 51.3%	% of Total Debt		13.9%	7.9%	10.9%	3.8% 12.2% 51.3%

Subtotals vs summed lines (heuristic)

For each recognised total/subtotal row, amounts in the detected reporting column are summed over preceding detail rows until another subtotal or a lookback limit. This mirrors coarse PHP-style checks; it is not a full chart-of-accounts reconciliation.

Row	Label (trimmed)	Σ detail	Reported	|Δ|/scale	Status
9	Total current assets 269,324 283,117 (4.9) Total current liabilities 232,971 210,013 10.9	283,092	283,117	0.0001	OK (6 lines)

CF

Tables and checks run on 2 of 3 PDF pages for this form (timeout budget). Raise REPORT_REVIEW_HEAVY_RECON_PAGES for more.

CF — PDF page 15

No Camelot table — OCR (v8) below.

GPU v8 OCR — page 15 (8 rows). Blank amount cells are normal for section headers and line-wrapped captions; 0 from OCR on those rows is not a reported financial zero. Amounts follow the PDF header (often thousands of currency).

#	Joined label	Column 2	Column 3	Column 4	Column 5
0	EPS with Repurchased Shares
1	Amounts expressed in millions of Mexican Pesos (Ps )
2	As Reported Proforma
3	Total Shares Outstanding"" (2) Total Shares Excluding Shares in Treasury
4	FEMSA Units Outstanding"} 3,412,732,415 FEMSA Units Outstanding"") 3,412,732,415
5	Net majority income	14826	14826	14826	14826
6	#FEMSA Units Outstanding"")	0	3412732415	0	3406814675
7	EPS (Mxn Ps: Unit)	4.34	4.34	4.35	4.35

CF — PDF page 16

Camelot table (pages 16, primary page 16).

#	Joined label	Line item	2026	of rev.	2025	of rev.	% Var.
0	% %			%		%
1	2026 2025 % Var.		2026		2025		% Var.
2	of rev. of rev.			of rev.		of rev.
3	Total revenues 74,424 100.0 68,744 100.0 8.3	Total revenues	74,424	100.0	68,744	100.0	8.3
4	Cost of sales 40,074 53.8 37,925 55.2 5.7	Cost of sales	40,074	53.8	37,925	55.2	5.7
5	Gross profit 34,350 46.2 30,819 44.8 11.5	Gross profit	34,350	46.2	30,819	44.8	11.5
6	Administrative expenses 2,233 3.0 1,960 2.9 13.9	Administrative expenses	2,233	3.0	1,960	2.9	13.9
7	Selling expenses 26,394 35.5 24,098 35.1 9.5	Selling expenses	26,394	35.5	24,098	35.1	9.5
8	Other operating expenses (income), net 94 0.1 107 0.2 (12.4)	Other operating expenses (income), net	94	0.1	107	0.2	(12.4)
9	Income from operations 5,629 7.6 4,655 6.8 20.9	Income from operations	5,629	7.6	4,655	6.8	20.9
10	Depreciation 3,770 5.1 3,476 5.1 8.5	Depreciation	3,770	5.1	3,476	5.1	8.5
11	Amortization & other non-cash charges 1,146 1.5 361 0.5 217.1	Amortization & other non-cash charges	1,146	1.5	361	0.5	217.1
12	Adjusted EBITDA 10,545 14.2 8,492 12.4 24.2	Adjusted EBITDA	10,545	14.2	8,492	12.4	24.2
13	CAPEX 2,202 2,948 (25.3)	CAPEX	2,202		2,948		(25.3)
14	Information of OXXO Stores	Information of OXXO Stores
15	Total stores 24,455 23,567 3.8	Total stores	24,455		23,567		3.8
16	Net new convenience stores:	Net new convenience stores:
17	vs. Last quarter 158 361 (56.2)	vs. Last quarter	158		361		(56.2)
18	Year-to-date 158 361 (56.2)	Year-to-date	158		361		(56.2)
19	Last-twelve-months 888 1,241 (28.4)	Last-twelve-months	888		1,241		(28.4)

No subtotal/total rows matched the built-in patterns on this table (or fewer than two detail lines above each candidate).

Formulas used

• Net debt: debt_short + debt_long - cash; debt_short + debt_long + other_financial_liabilities + non_controlling_interest − cash (from row components)