This increase was primarily driven by revenue management initiatives, partially offset by the unfavorable effects of currency conversion to Mexican pesos in most of the company's operating currencies.
In fact, the report indicates that, excluding currency conversion effects, total revenues would have increased by 6 %. During the fourth quarter of 2025, operating cash flow was €900 million, a 12.8% increase compared to the same period in 2024.
Through actions implemented to address short-term challenges, particularly in Mexico, Femsa achieved sequential volume improvements throughout the year. The fourth quarter ended positively, with consolidated volumes and December achieving the highest volumes in the company's history.
