Cultiba

HOME FAQ´s

PRINT

FAQ´s

What are Cultiba’s main businesses?

Cultiba is a holding company with a minority interest in one of Mexico’s largest bottlers of soft drinks and jug water, and the exclusive bottler of PepsiCo beverage products in Mexico. Our beverage business markets and distributes nationwide carbonated soft drinks, non-carbonated soft drinks, bottled water and jug water under its own brands as well as third party brands. As a holding company, Cultiba also owns and operates three sugar mills and holds a 49% interest in a fourth mill in the western region of Mexico.

What is Cultiba’s percentage ownership in each of its subsidiaries?

Cultiba has a 40% stake in Grupo GEPP, the national Mexican beverage company, and a 100% stake in GAM, its sugar business. On the beverages side, Polmex Holding has another 40% stake in Grupo GEPP and PepsiCo owns the remaining 20%, providing Cultiba with additional operational expertise an proven capabilities in the beverage industry, shared procurement and investment commitment. See corporate structure diagram.

What is Cultiba’s total beverage sales volume and breakdown by category?

In 2016, Cultiba's beverages division sold 1,659 million eight-ounce equivalent unit cases, comprised of 859 million unit cases of soft drinks and bottled water and 800 million unit cases of jug water.

In which countries does Cultiba operate?

All of Cultiba’s operations are located in Mexico, and 100% of our beverages division's products are sold in Mexico as well. We export a portion of our sugar division's production, primarily to the United States.

How many employees does Cultiba have?

As of December 31, 2016, Cultiba's beverages division had approximately 37,715 employees in and its sugar division had approximately 1,819 employees. More detail about the number of employees by department and geography in each business can be found on page 82 of Cultiba's latest Annual Report presented to the Mexican Stock Exchange

Who are Cultiba’s senior executives?

At the holding company level, Cultiba’s Key Officers are Mr. Eduardo Sánchez Navarro Redo (Chief Executive Officer), and Mr. Carlos G. Orozco Alatorre (Chief Financial Officer). For Key officers at the Beverages and Sugar businesses please go to the following link. Bios for our senior management team can be found on page 128 of Cultiba's latest Annual Report presented to the Mexican Stock Exchange.

On which exchange do Cultiba's shares trade and under what ticker symbol?

Cultiba’s shares trade on the Mexican Stock Exchange, or Bolsa Mexicana de Valores, under the ticker symbol “CULTIBA”.

How many Cultiba shares are outstanding?

As of May 17, 2017, Cultiba had 717,537,466 shares outstanding.

Which brokerage firms provide research coverage of Cultiba’s shares?

The following firms provide research coverage on Cultiba: Credit Suisse and GBM Grupo Bursátil Mexicano. Please note that any opinions, estimates or forecasts regarding the performance of Cultiba issued by these analysts reflect their own points of view, and therefore do not represent the opinions, estimates or forecasts of Cultiba or its management. Although Cultiba may refer to or distribute such statements, this does not imply that Cultiba agrees with or endorses any information, conclusions or recommendations included therein. For a detailed list of our covering analysts please press here.

Who are the members of Cultiba’s Board of Directors?

Our board of Directors is the ultimate management body. It meets at least four times a year, and is responsible for the business administration. It consists of 17 members that are listed in the following link. Bios for our Board of Directors can be found on pages 128 of our 2016 Annual Report submitted to the Mexican Stock Exchange.

Do all of Cultiba’s shareholders have the same voting rights?

All our shares have full voting rights and each share entitles the holder to one vote at any general meeting of our shareholders.

Do minority shareholders have the right to elect Board members?

The members of our board of directors are usually elected by our shareholders at the General Ordinary Annual Meeting. For each 10% of our capital stock that is owned by any shareholder or group of shareholders, such shareholder or group has the right to appoint a member of the board of directors and his or her respective alternate director.

Where can I find more information on Cultiba’s Corporate Governance principles?

More information on Cultiba’s corporate governance principles can be found on this page.

Where can I find Cultiba’s corporate bylaws?

Cultiba’s corporate by-laws can be found here.

What accounting rules does Cultiba follow for reporting financial results?

Beginning on January 1, 2012, in accordance with CNBV requirements for entities that are listed on the Mexican Stock Exchange, we transitioned our financial reporting to International Financial Reporting Standards (“IFRS”) issued by the International Accounting Standards Board (“IASB”).

On October 26 2016, Empresas Polar (Polmex) announced its decision to exercise an option to purchase 11% of GEPP (the beverages division) from CULTIBA. Such transaction was finalized on April 2017, resulting in Corporate Structure Changes for CULTIBA. As a result of such changes and per regulatory guidelines, CULTIBA no longer consolidates the entire beverages business in the Company’s financial statements. Hence, financial statements reported to the Mexican Stock Exchange now use the equity method to show CULTIBA’s stake in GEPP. CULTIBA computes its 40% share of the beverages business by adding the corresponding net profit from that business to the Company’s bottom line at the P&L, and by recognizing CULTIBA’s stake over the fair value of GEPP’s assets on the Company’s Balance Sheet.

Even though financial statements issued to the Mexican Stock Exchange follow the equity method mentioned above, starting 2017 CULTIBA’s Earning Release displays proforma financials showing the Company’s 40% stake on the beverages business on CULTIBA’s P&L. CULTIBA presents every line from its proforma P&L in the same format used in prior Releases, with the sole difference of including only 40% of the beverages business instead of 100% as they included before.

As for the Company’s Balance Sheet, it no longer consolidates assets or liabilities from the beverages division. Instead, CULTIBA’s 40% stake is shown on the Joint Ventures line as part of CULTIBA’s Total Assets.

What is Cultiba’s official accounting currency?

Cultiba’s official accounting currency is the Mexican peso.

Where can I access Cultiba's regulatory filings, including periodic financial results?

Our regulatory filings are submitted to the Mexican Stock Exchange (www.bmv.com.mx). They can also be found on our website through this link.

Where can I find Cultiba’s Annual Report?

For Cultiba’s most recent Annual Report Submitted to the Mexican Stock Exchange please click here.

What is Cultiba’s fiscal year-end?

Cultiba’s fiscal year ends on December 31^st.

When is Cultiba’s annual shareholder meeting date?

Cultiba’s most recent shareholder meeting was held on April 25, 2017.

What is the location of Cultiba’s corporate headquarters?

Cultiba’s corporate headquarters is located at: Monte Caucaso 915, Sixth Floor, Lomas de Chapultepec, 11000, Mexico City, Mexico.

How can I contact investor relations?

For investor relations, please contact Diana Gonzalez Flores, IRO, at dgonzalez@gamsa.com.mx, or by phone at +52 (55) 5201-1900.

Where can I request additional information?

To request additional information, please fill out the request information form, which can be found here.