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Fomento Económico Mexicano's (FMX) CEO Eduardo Padilla on Q1 2021 Results - Earnings Call Transcript

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Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) Q1 2021 Earnings Conference Call April 29, 2021 10:00 AM ET

Company Participants

Juan Fonseca – Director-Investor Relations

Eugenio Garza – Finance and Corporate Development Director

Eduardo Padilla – Chief Executive Officer

Conference Call Participants

Bob Ford – Bank of America

Ricardo Alves – Morgan Stanley

Alvaro Garcia – BTG

Alan Alanis – Santander

Marcella Recchia – Credit Suisse

Rodrigo Alcantara – UBS

Ulises Argote – JPMorgan

Carlos Laboy – HSBC


Good morning, and welcome, everyone, to FEMSA's First Quarter 2021 Financial Results Conference Call. [Operator Instructions] During this conference call, management may discuss certain forward-looking statements concerning FEMSA's future performance and should be considered as good faith estimates made by the company. These forward-looking statements reflect management's expectations and are based upon currently available data. Actual results are subject to future events and uncertainties, which can materially impact the company's actual performance.

At this time, I will now turn the conference over to Juan Fonseca, FEMSA's Director, Investor Relations. Please go ahead, sir.

Juan Fonseca

Good morning, everyone. Welcome to FEMSA's first quarter 2021 results conference call. Today, we are joined by Eduardo Padilla, our Chief Executive Officer; Eugenio Garza, our Finance and Corporate Development Director; and by Jorge Collazo, who heads Coca-Cola FEMSA's Investor Relations effort. Paco Camacho, our Chief Corporate Officer, is traveling this week and wasn't able to dial in today. So let me turn it over to Eugenio for some opening remarks.

Eugenio Garza

Thank you, Juan. Good morning, everyone. Thank you for joining us today. We hope your families and yourselves are doing well. The first message that jumps out in the data for the first quarter is that things are getting better. Most importantly, they are getting better on the health funds, gradually, in some cases, painful so. And there have been setbacks, of course, such as the big

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