Mexico: Grupo Modelo 2Q export volume increased over 7%
Top Mexican brewer Modelo saw second-quarter export volume growth of between 7 percent and 8 percent over the same period a year earlier, Reuters said July 14. Modelo, the maker of Corona beer, forecasts that domestic beer volume growth for the April-June period would come in between 5 percent and 6 percent, analysts at the brokerages said.
Spokesmen at Modelo were not immediately available to confirm the sales forecast that company officials gave to brokerages.
Export growth, mainly to the United States, has been outstripping domestic growth for the last few years. Modelo, half-owned by giant U.S. brewer Anheuser-Busch Cos. Inc., also told analysts to expect margin expansion in the second quarter.
Shares of Modelo were down 1.43 percent on Friday at 42.00 pesos in a broad market sell-off. The key Mexican stock exchange index was off 1.16 percent. Modelo is scheduled to report its full second-quarter earnings results on or before July 28.
Founded in 1925, Grupo Modelo® is the leader in the production, distribution, and sale of beer in Mexico. It has seven breweries in Mexico, with an installed capacity of 46 million hectoliters of beer per year.
At present it has ten brands, among them Corona Extra®, "the best selling Mexican beer in the world®", Modelo Especial®, Victoria®, Pacífico®, and Negra Modelo® as well as other regional brews.
It exports five brands to more than 150 countries and is the exclusive importer in Mexico of the beers produced by the US brewer Anheuser-Busch, including Budweiser and Bud Light.
Grupo Modelo® has been listed on the Mexican Stock Exchange since 1994.
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