Report of Foreign Issuer

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16 UNDER

THE SECURITIES EXCHANGE ACT OF 1934

For the month of May 2012

FOMENTO ECONÓMICO MEXICANO, S.A.B. DE C.V.

(Exact name of Registrant as specified in its charter)

Mexican Economic Development, Inc.

(Translation of Registrant’s name into English)

United Mexican States

(Jurisdiction of incorporation or organization)

General Anaya No. 601 Pte.

Colonia Bella Vista

Monterrey, Nuevo León 64410

México

(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports

under cover of Form 20-F or Form 40-F:

Form 20-F x Form 40-F ¨

Indicate by check mark if the registrant is submitting the Form 6-K in paper as

permitted by Regulation S-T Rule 101(b)(1): _______

Indicate by check mark if the registrant is submitting the Form 6-K in paper as

permitted by Regulation S-T Rule 101(b)(7): _______

Indicate by check mark whether by furnishing the information contained in this

Form, the registrant is also thereby furnishing the information to the

Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

Yes ¨ No x

If "Yes" is marked, indicate below the file number assigned to the registrant in

connection with Rule 12g3-2(b): 82-_____________

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the

registrant has duly caused this report to be signed on its behalf of the

undersigned, thereunto duly authorized.

	FOMENTO ECONÓMICO MEXICANO, S.A. DE C.V.

	By:	/s/ Javier Astaburuaga
		Javier Astaburuaga
		Chief Financial Officer

Date: May 2, 2012

FEMSA Delivers Solid Start to 2012

Monterrey, Mexico, May 2, 2012 — Fomento Económico Mexicano, S.A.B. de C.V. (“FEMSA”) announced today its operational and financial results for the first quarter of 2012 under International Financial Reporting Standards (IFRS).

First Quarter 2012 Highlights:

FEMSA consolidated total revenues and income from operations grew 25.2% and 14.4%, respectively, compared to the first quarter of 2011, reflecting solid results at Coca-Cola FEMSA and FEMSA Comercio. On an organic basis total revenues and income from operations grew 20.3% and 10.1% respectively.

Coca-Cola FEMSA total revenues and income from operations increased 29.7% and 13.0%, respectively, compared to the first quarter of 2011 . On an organic basis total revenues and income from operations grew 21.6% and 7.9% respectively.

FEMSA Comercio achieved total revenues growth of 18.1% and income from operations growth of 27.4%, compared to the first quarter of 2011 , driven by new store openings and 8.0% growth in same-store sales.

José Antonio Fernández Carbajal, Chairman and CEO of FEMSA, commented: “We started the year with a good amount of momentum carrying over from last year. FEMSA Comercio continued on a path of robust growth particularly in like-for-like sales, with solid profitability, as we continued to make progress in our understanding of consumer needs. Coca-Cola FEMSA, for its part, delivered strong top line growth tempered by some raw material pressure, as well as the front-loaded costs and expenses related to the integration of the new territories in Mexico and the pursuit of synergies. On that subject, we are encouraged by our initial progress and by the upside bias that we see in the synergy potential.

This year, as usual, will not be without its share of challenges, but also, its share of opportunities. We welcome you aboard for the ride.”

FEMSA Consolidated

Total revenues increased 25.2% compared to 1Q11 to Ps. 53.746 billion in 1Q12. Coca-Cola FEMSA and FEMSA Comercio drove the incremental consolidated revenues. On an organic basis total revenues increased 20.3%.

Gross profit increased 26.3% compared to 1Q11 to Ps. 21.935 billion in 1Q12. Gross margin increased 30 basis points compared to the same period in 2011 to 40.8% of total revenues, driven by FEMSA Comercio.

Income from operations increased 14.4% to Ps. 5.213 billion in 1Q12 as compared to the same period in 2011. On an organic basis income from operations increased 10.1%.

Consolidated operating margin decreased 90 basis points compared to 1Q11 to 9.7% of total revenues, mainly due to raw material-driven cost pressures at Coca-Cola FEMSA.

The effective income tax rate was 31.7% in 1Q12 compared to 33.0% in 1Q11.

Net consolidated income increased 13.0% compared to 1Q11 to Ps. 3.748 billion in 1Q12, primarily as a result of growth in FEMSA’s income from operations and the gain derived from FEMSA’s 20% participation in Heineken’s 1Q12 net income, versus the figure reported for 1Q11. These factors more than compensated the increase in integral result of financing, which was due mostly to a higher foreign exchange non-cash loss resulting from the sequential appreciation of the Mexican Peso and its impact on the dollar-denominated portion of our cash balance.

Net majority income for 1Q12 was Ps. 0.65 per FEMSA Unit ¹ . Net majority income per FEMSA ADS was US$ 0.51 for the first quarter of 2012.

Capital expenditures increased to Ps. 2.141 billion in 1Q12 over a low comparable base, reflecting incremental investments at Coca-Cola FEMSA including the deployment of coolers, particularly in Mexico.

Our consolidated balance sheet as of March 31, 2012, recorded a cash balance of Ps. 27.249 billion (US$ 2.127 billion), an increase of Ps. 79 million (US$ 6.2 million) compared to December 2011. Short-term debt was Ps. 2.248 billion (US$ 175.5 million), while long-term debt was Ps. 22.371 billion (US$ 1.746 billion). Our consolidated net cash balance was Ps. 2.630 billion (US$ 205.3 million).

Soft Drinks – Coca-Cola FEMSA

Coca-Cola FEMSA’s financial results and discussion thereof are incorporated by reference from Coca-Cola FEMSA’s press release, which is attached to this press release or may be accessed by visiting www.coca-colafemsa.com .

FEMSA Comercio

Total revenues increased 18.1% compared to 1Q11 to Ps. 19.033 billion in 1Q12, mainly driven by the opening of 138 net new stores in the quarter reaching 1,078 total net new store openings for the last twelve months. As of March 31, 2012, FEMSA Comercio had a total of 9,699 convenience stores. Same-store sales increased an average of 8.0% for the first quarter of 2012 over 1Q11, reflecting a 6.0% increase in store traffic and a 1.9% increase in average customer ticket.

^{FEMSA
Units consist of FEMSA BD Units and FEMSA B Units. Each FEMSA BD Unit is comprised of one Series B Share, two Series D-B Shares
and two Series D-L Shares. Each FEMSA B Unit is comprised of five Series B Shares. The number of FEMSA Units outstanding as of
March 31, 2012 was 3,578,226,270, equivalent to the total number of FEMSA Shares outstanding as of the same date, divided by 5.}

May 2, 2012

Gross profit increased by 21.7% in 1Q12 compared to 1Q11, resulting in a 90 basis point gross margin expansion to 32.3% of total revenues. This increase reflects (i) a positive mix shift due to the growth of higher margin categories, and (ii) a more effective collaboration and execution with our key supplier partners combined with a more efficient use of promotion-related marketing resources.

Income from operations increased 27.4% over 1Q11 to Ps. 800 million in 1Q12. Selling and Administrative expenses increased 21.5% to Ps. 5.383 billion in line with the recent trend, largely driven by the growing number of stores as well as by incremental expenses relating to, among other things: (i) an increase in marketing programs to support our consumer need-driven initiatives, (ii) a rise in electricity tariffs, and (iii) the continued strengthening of FEMSA Comercio’s organizational structure. Operating margin expanded 30 basis points compared to 1Q11, to 4.2% of total revenues in 1Q12.

Recent Developments

On March 30, 2012, FEMSA reported its financial information under International Financial Reporting Standards (IFRS). The purpose of this exercise was to provide investors and other market participants with a set of quarterly and full year information reflecting the application of International Financial Reporting Standards. This data set also constituted a comparable basis for future reporting periods.

CONFERENCE CALL INFORMATION:

Our First Quarter of 2012 Conference Call will be held on: Wednesday May 2, 2012, 11:00 AM Eastern Time (10:00 AM Mexico City Time). To participate in the conference call, please dial: Domestic US: (877) 795-3647 International: (719) 325-4806, Conference Id: 4214309. The conference call will be webcast live through streaming audio. For details please visit www.femsa.com/investor .

If you are unable to participate live, the conference call audio will be available on http://ir.FEMSA.com/results.cfm .

FEMSA is a leading company that participates in the non-alcoholic beverage industry through Coca-Cola FEMSA, the largest independent bottler of Coca-Cola products in the world in terms of sales volume; in the retail industry through FEMSA Comercio, operating the largest and fastest-growing chain of convenience stores in Latin America, and in the beer industry, through its ownership of the second largest equity stake in Heineken, one of the world’s leading brewers with operations in over 70 countries.

The translations of Mexican pesos into US dollars are included solely for the convenience of the reader, using the noon day buying rate for pesos as published by the Federal Reserve Bank of New York at March 30, 2012, which was 12.8115 Mexican pesos per US dollar.

FORWARD-LOOKING STATEMENTS

This report may contain certain forward-looking statements concerning our future performance that should be considered as good faith estimates made by us. 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 could materially impact our actual performance.

Five pages of tables and Coca-Cola FEMSA’s press release follow.

May 2, 2012

FEMSA

Consolidated Income Statement

Millions of Pesos

For the first quarter of:

	2012 ^(A)			% of rev.			2011			% of rev.		% Var.			% Org ^(B)
Total revenues		53,746			100.0			42,921			100.0		25.2			20.3
Cost of sales		31,811			59.2			25,553			59.5		24.5
Gross profit		21,935			40.8			17,368			40.5		26.3
Administrative expenses		2,329			4.3			1,822			4.2		27.8
Selling expenses		14,471			26.9			10,982			25.7		31.8
Other Operating expenses (income), net ⁽¹⁾		(78	)		(0.1	)		7			-		N.A.
Income from operations ⁽²⁾		5,213			9.7			4,557			10.6		14.4			10.1
Other Non Operating expenses (income)		(226	)					53					N.A.
Interest expense		613						481					27.4
Interest income		175						202					(13.4	)
Interest expense, net		438						279					57.0
Foreign exchange (loss) gain		(458	)					(180	)				N.A.
Other net finance results gain (loss)		25						76					(67.1	)
Integral result of financing		(871	)					(383	)				N.A.
Income before income tax		4,568						4,121					10.8
Income tax		1,447						1,360					6.4
Participation in Heineken results ⁽³⁾		627						557					12.6
Net consolidated income		3,748						3,318					13.0
Net majority income		2,318						2,181					6.3
Net minority income		1,430						1,137					25.8

	2012 ^(A)		% of rev.		2011		% of rev.		% Var.		% Org ^(B)
Operative Cash Flow & CAPEX
Income from operations		5,213		9.7		4,557		10.6		14.4		10.1
Depreciation		1,706		3.2		1,272		3.0		34.1
Amortization & other non-cash charges		239		0.4		142		0.3		68.3
Operative Cash Flow (EBITDA)		7,158		13.3		5,971		13.9		19.9		14.8
CAPEX		2,141				1,297				65.0

Financial Ratios	2012 ^(A)			2011			Var. p.p.
Liquidity ⁽⁴⁾		1.31			1.54			(0.23	)
Interest coverage ⁽⁵⁾		16.34			21.40			(5.06	)
Leverage ⁽⁶⁾		0.41			0.37			0.04
Capitalization ⁽⁷⁾		12.10	%		13.34	%		(1.24	)

^(A) We integrated the beverage divisions of Grupo Tampico and Grupo CIMSA in Coca Cola FEMSA´s operations since October 2011 and December 2011, respectively.

^(B) % Org. represents the variation in a given measure excluding the effects of mergers, acquisitions and divestitures. We believe this measure allows us to provide investors and other market participants with a better representation of the performance of our business. In preparing this measure, management has used its best judgment, estimates and assumptions in order to maintain comparability.

⁽¹⁾ Other Operating expenses (income), net = Other Operating expenses (income) +(-) Equity method from operated associates.

⁽²⁾ Income from operations = Gross profit - Administrative and selling expenses - Other operating expenses (income), net.

⁽³⁾ Represents the equity method participation in Heineken´s first quarter 2012 results, net.

⁽⁴⁾ Total current assets / total current liabilities.

⁽⁵⁾ Income from operations + depreciation + amortization & other / interest expense, net.

⁽⁶⁾ Total liabilities / total stockholders' equity.

⁽⁷⁾ Total debt / long-term debt + stockholders' equity.

Total debt = short-term bank loans + current maturities of long-term debt + long-term bank loans.

May 2, 2012

FEMSA

Consolidated Balance Sheet

Millions of Pesos

	Mar-12		Dec-11		% Var.
*ASSETS*
Cash and cash equivalents		27,249		27,170		0.3
Accounts receivable		8,599		10,498		(18.1	)
Inventories		14,164		14,360		(1.4	)
Other current assets		6,773		6,913		(2.0	)
Total current assets		56,785		58,941		(3.7	)
Investments in shares		74,952		78,643		(4.7	)
Property, plant and equipment, net		53,690		54,414		(1.3	)
Intangible assets ⁽¹⁾		62,219		62,962		(1.2	)
Other assets		8,150		8,823		(7.6	)
TOTAL ASSETS		255,796		263,783		(3.0	)

LIABILITIES & STOCKHOLDERS´ EQUITY
Bank loans		690		638		8.1
Current maturities of long-term debt		1,558		4,935		(68.4	)
Interest payable		208		216		(3.7	)
Operating liabilities		40,973		32,494		26.1
Total current liabilities		43,429		38,283		13.4
Long-term debt ⁽²⁾		22,371		23,137		(3.3	)
Labor liabilities		2,646		2,584		2.4
Other liabilities		6,199		7,669		(19.2	)
Total liabilities		74,645		71,673		4.1
Total stockholders’ equity		181,151		192,110		(5.7	)
LIABILITIES AND STOCKHOLDERS’ EQUITY		255,796		263,783		(3.0	)

	March 31, 2012
*DEBT MIX ⁽²⁾*	% of Total			Average Rate
Denominated in:
Mexican pesos		63.2	%		6.8	%
Dollars		26.7	%		4.6	%
Colombian pesos		4.9	%		6.6	%
Argentine pesos		3.6	%		17.7	%
Brazilian Reais		1.6	%		9.4	%
Total debt		100.0	%		6.6	%

Fixed rate ⁽²⁾		65.0	%
Variable rate ⁽²⁾		35.0	%

% of Total Debt		2012				2013				2014				2015				2016				2017				2018+
DEBT MATURITY PROFILE			7.4	%			18.1	%			6.1	%			11.7	%			10.3	%			10.2	%			36.2	%

⁽¹⁾ Includes mainly the intangible assets generated by acquisitions.

⁽²⁾ Includes the effect of derivative financial instruments on long-term debt.

May 2, 2012

Coca-Cola FEMSA

Results of Operations

Millions of Pesos

For the first quarter of:

	2012 ^(A)			% of rev.			2011		% of rev.		% Var.		% Org ^(B)
Total revenues		33,542			100.0			25,854		100.0		29.7		21.6
Cost of sales		18,338			54.7			14,071		54.4		30.3
Gross profit		15,204			45.3			11,783		45.6		29.0
Administrative expenses		1,539			4.6			1,147		4.4		34.2
Selling expenses		9,414			28.1			6,816		26.4		38.1
Other Operating expenses (income), net		(63	)		(0.2	)		3		-		N.A.
Income from operations		4,314			12.9			3,817		14.8		13.0		7.9
Depreciation		1,201			3.6			845		3.3		42.1
Amortization & other non-cash charges		162			0.4			75		0.2		N.A.
Operative Cash Flow		5,677			16.9			4,737		18.3		19.8		13.4
CAPEX		1,253						630				99.0

Sales volumes
(Millions of unit cases)
Mexico and Central America		412.4			58.7			331.7		54.9		24.3		3.3
South America		290.6			41.3			273.1		45.1		6.4		6.4
Total		703.0			100.0			604.8		100.0		16.2		4.7

^(A) We integrated the beverage divisions of Grupo Tampico and Grupo CIMSA in Coca Cola FEMSA´s operations since October 2011 and December 2011, respectively.

May 2, 2012

FEMSA Comercio

Results of Operations

Millions of Pesos

For the first quarter of:

	2012			% of rev.			2011		% of rev.		% Var.
Total revenues		19,033			100.0			16,110		100.0		18.1
Cost of sales		12,877			67.7			11,050		68.6		16.5
Gross profit		6,156			32.3			5,060		31.4		21.7
Administrative expenses		386			2.0			334		2.1		15.6
Selling expenses		4,997			26.2			4,096		25.4		22.0
Other Operating expenses (income), net		(27	)		(0.1	)		2		-		N.A.
Income from operations		800			4.2			628		3.9		27.4
Depreciation		459			2.4			397		2.5		15.6
Amortization & other non-cash charges		41			0.2			39		0.2		5.1
Operative Cash Flow		1,300			6.8			1,064		6.6		22.2
CAPEX		726						719				1.0

Information of OXXO Stores
Total stores		9,699						8,621				12.5
Net new convenience stores
vs. March prior year		1,078						1,129				(4.5	)
vs. December prior year		138						195				(29.2	)

Same store data: ⁽¹⁾
Sales (thousands of pesos)		632.5						585.5				8.0
Traffic (thousands of transactions)		24.7						23.3				6.0
Ticket (pesos)		25.6						25.2				1.9

⁽¹⁾ Monthly average information per store, considering same stores with more than 12 months of operations.

May 2, 2012

FEMSA

Macroeconomic Information

							End of period, Exchange Rates
	Inflation						Mar-12				Mar-11
				March-11
	1Q 2012			March-12			Per USD		Per Mx. Peso		Per USD		Per Mx. Peso
Mexico		0.97	%		3.73	%		12.85		1.0000		11.97		1.0000
Colombia		1.47	%		3.40	%		1,784.66		0.0072		1,879.47		0.0064
Venezuela		3.54	%		24.60	%		4.30		2.9881		4.30		2.7832
Brazil		1.22	%		5.24	%		1.82		7.0517		1.63		7.3481
Argentina		2.61	%		9.81	%		4.38		2.9342		4.05		2.9521
Euro Zone		0.98	%		2.67	%		0.75		17.0786		0.71		16.7968

May 2, 2012

Stock Listing Information

Mexican Stock Exchange

Ticker: KOFL

NYSE (ADR)

Ticker: KOF

Ratio of KOF L to KOF = 10:1

For Further Information:

Investor Relations

José Castro

jose.castro@kof.com.mx

(5255) 5081-5120 / 5121

Roland Karig

roland.karig@kof.com.mx

(5255) 5081-5186

Carlos Uribe

carlos.uribe@kof.com.mx

(5255) 5081-5148

Website:

www.coca-colafemsa.com

2012 FIRST-QUARTER RESULTS
	First Quarter						Excluding M&A
	2011		2010		Reported Δ%		Effects Δ % ⁽⁵⁾
Total Revenues	33,542		25,854		29.7	%	21.6	%
Gross Profit	15,204		11,783		29.0	%
Operating Income	4,314		3,817		13.0	%	7.9	%
Net Controlling Interest Income	2,636		2,198		19.9	%
Operative cash flow ⁽¹⁾	5,677		4,737		19.8	%	13.4	%

Net Debt ⁽²⁾	6,933		10,344		-33.0	%

Net Debt / Operative cash flow ⁽³⁾	0.29		0.44
Operative cash flow/ Interest Expense, net ⁽³⁾	19.17		21.31
Earnings per Share ⁽³⁾	5.46		5.76
Capitalization ⁽⁴⁾	17.6	%	20.5	%
Expressed in millions of Mexican pesos .

⁽¹⁾ Operative cash flow = Operating income + Depreciation + Amortization & other operative non-cash charges.

See reconciliation table on page 7 except for Earnings per Share

⁽²⁾ Net Debt = Total Debt - Cash

⁽³⁾ LTM figures

⁽⁴⁾ Total debt / (long-term debt + equity)

⁽⁵⁾ Excluding M&A Effects means, with respect to a year-over-year comparison, the increase in a given measure excluding the effects of mergers, acquisitions and divestitures. We believe this measure allows us to provide investors and other market participants with a better representation of the performance of our business. In preparing this measure, management has used its best judgment, estimates and assumptions in order to maintain comparability.

●

Reported total revenues reached Ps. 33,542 million in the first quarter of 2012, an increase of 29.7% as compared to the first quarter of 2011, mainly as a result of double-digit total revenue growth in each division and the integration of Grupo Tampico and Grupo CIMSA in our Mexican territories. Excluding the recently integrated territories in Mexico, total revenues increased 21.6%.

●

Reported consolidated operating income grew 13.0% to Ps. 4,314 million for the first quarter of 2012, mainly driven by double-digit operating income growth in each division and including the integration of the new territories in Mexico. Our reported operating margin was 12.9% in the first quarter of 2012. Excluding the recently merged territories, operating income grew 7.9%.

●

Reported consolidated net controlling interest income grew 19.9%, reaching Ps. 2,636 million in the first quarter of 2012.

Mexico City (April 26, 2012), Coca-Cola FEMSA, S.A.B. de C.V. (BMV: KOFL, NYSE: KOF) (“Coca-Cola FEMSA” or the “Company”), the largest Coca-Cola franchise bottler in the world, announces results for the first quarter of 2012.

"In the face of an environment of continuing commodity cost pressures, the execution skills of our operators continued to bolster our competitive position, generating double-digit top- and bottom-line growth for the first quarter of 2012. In Mexico, we have already incorporated the territories of Grupo Tampico and Grupo CIMSA into the culture and operations of our company, and we are well on track to achieve the previously identified synergies. At the same time, we continue to seek for new opportunities to create value and deliver growth for our shareholders, as exemplified by our exclusivity agreement with The Coca-Cola Company to evaluate the potential acquisition of their bottling operations in the Philippines. Furthermore, our growing financial flexibility has strengthened our ability to return cash to our shareholders in the form of increased dividends. Specifically, the dividend of Ps. 2.77 per share that our company will distribute as of May 30, 2012, is four times the dividend paid in 2009," said Carlos Salazar Lomelin, Chief Executive Officer of the Company.

April 26, 2012

Page 9

CONSOLIDATED RESULTS

Our reported consolidated total revenues increased 29.7% to Ps. 33,542 million in the first quarter of 2012, compared to the first quarter of 2011 as a result of double-digit total revenue growth in each division and the integration of Grupo Tampico and Grupo CIMSA in our Mexican operations ⁽¹⁾ . Excluding the recently integrated territories in Mexico, total revenues grew 21.6%. On a currency neutral basis and excluding the recently merged territories in Mexico, total revenue grew 18.0%, driven by average price per unit case growth in every operation, in combination with volume growth mainly in Venezuela, Mexico and Argentina.

Total sales volume increased 16.2% to reach 703.0 million unit cases in the first quarter of 2012 as compared to the same period in 2011. Excluding the integration of Grupo Tampico and Grupo CIMSA in Mexico, volumes grew 4.7% to 633.2 million unit cases. On the same basis, the sparkling beverage category grew 5%, mainly supported by strong volume growth of brand Coca-Cola in Mexico, Argentina and Venezuela, contributing more than 80% of incremental volumes. The still beverage category grew 14%, mainly driven by the introduction of the Jugos del Valle line of business in Venezuela, contributing close to 15% of incremental volumes. Our bottled water portfolio, including bulk water grew 1%, representing the balance.

Our reported gross profit increased 29.0% to Ps. 15,204 million in the first quarter of 2012, as compared to the first quarter of 2011. Reported cost of goods sold increased 30.3%, mainly as a result of (i) higher sweetener costs in Mexico, Venezuela, Argentina and Central America and (ii) increased PET costs in Brazil and Venezuela; in combination with the depreciation of the average exchange rate of the Argentine peso, ⁽²⁾ the Mexican peso ⁽²⁾ and the Brazilian real ⁽²⁾ and certain other operating currencies ⁽²⁾ as applied to our U.S. dollar-denominated raw material costs. Reported gross margin reached 45.3%, as compared to 45.6% in the first quarter of 2011.

Our reported consolidated operating income increased 13.0% to Ps. 4,314 million in the first quarter of 2012, driven by double-digit operating income growth in both divisions, and including the integration of Grupo Tampico and Grupo CIMSA in Mexico. Our reported operating margin reached 12.9% in the first quarter of 2012, as compared with 14.8% in the same period of 2011. Excluding the integration of the recently merged territories in Mexico, operating income grew 7.9%. On the same basis, operating expenses increased in the first quarter of 2012, mainly as a result of (i) higher labor costs in Venezuela and Brazil and higher labor and freight costs in Argentina, (ii) increased marketing investment to reinforce our execution in the marketplace, widen our cooler coverage and broaden our returnable base availability across our territories and (iii) additional expenses related to the development of information systems and commercial capabilities in connection with our commercial models.

During the first quarter of 2012, we recorded a gain of Ps. 63 million in the other operative expenses, net line. This gain mainly reflects the equity method income related to our operative investments.

Our comprehensive financing result in the first quarter of 2012 recorded an expense of Ps. 136 million as compared to an expense of Ps. 197 million in the same period of 2011. This difference was mainly driven by a foreign exchange gain that mainly resulted from the appreciation of the Mexican peso as compared with December of 2011, as applied to our dollar-denominated net debt position.

During the first quarter of 2012, income tax, as a percentage of income before taxes, was 33.8% as compared to 35.2% in the same period of 2011. During 2011, we registered an increase in the tax on shareholder’s equity in one of our subsidiaries in the South America division, which contributed to a higher tax rate in that year.

Our reported consolidated net controlling interest income grew 19.9% reaching Ps. 2,636 million in the first quarter of 2012 as compared to the first quarter of 2011. Earnings per share (EPS) in the first quarter of 2012 were Ps. 1.33 (Ps. 13.28 per ADS) computed on the basis of 1,985.4 million shares (each ADS represents 10 local shares).

(1) Our Mexican operations include Grupo Tampico’s results as of October, 2011 and Grupo CIMSA’s results as of December, 2011

(2) See page 11 for average and end of period exchange rates for the first quarter of 2012

April 26, 2012

Page 10

BALANCE SHEET

As of March 31, 2012, we had a cash balance of Ps. 11,382 million, including US$ 283 million denominated in U.S. dollars, a decrease of Ps. 791 million compared to December 31, 2011. This difference was mainly driven by the payment at maturity of one of our Certificados Bursátiles in the amount of Ps. 3,000 million during March, 2012, net of the cash generated by our operations.

As of March 31, 2012, total short-term debt was Ps. 2,155 million and long-term debt was Ps. 16,160 million. Total debt decreased by Ps. 4,202 million, compared to year end 2011. Net debt decreased Ps. 3,411 million compared to year end 2011. The Company’s total debt balance includes U.S. dollar-denominated debt in the amount of US$ 515 million. ⁽¹⁾

The weighted average cost of debt for the quarter was 6.6%. The following charts set forth the Company’s debt profile by currency and interest rate type and by maturity date as of March 31, 2012.

Currency	% Total Debt ⁽¹⁾			% Interest Rate Floating ⁽¹⁾⁽²⁾
Mexican pesos		52.1	%		30.0	%
U.S. dollars		36.0	%		0.4	%
Colombian pesos		6.6	%		100.0	%
Brazilian reals		0.5	%		0.0	%
Argentine pesos		4.8	%		25.4	%

(1)

After giving effect to cross-currency swaps and interest rate swaps

(2)

Calculated by weighting each year’s outstanding debt balance mix

Debt Maturity Profile

Maturity Date		2012				2013				2014				2015				2016				2017+
% of Total Debt			9.5	%			5.0	%			7.6	%			15.5	%			13.7	%			48.7	%

Consolidated Cash Flow

The following cash flow statement is presented on a historical basis, whereas the balance sheet included on page 8 is presented in nominal terms. Certain differences resulting from calculations performed with the information contained in the balance sheet may differ from items shown in this cash flow statement. These differences are presented separately as a part of the Translation Effect in the cash flow statement in accordance with Mexican Financial Reporting Standards . For more detailed information about our consolidated cash flow statement, please refer to the cash flow contained in our quarterly filing to the Mexican Stock Exchange (Bolsa Mexicana de Valores or BMV) available at www.bmv.com.mx in the Información Financiera section for Coca-Cola FEMSA (KOF).


Consolidated Cash Flow
Expressed in millions of Mexican pesos (Ps.) as of March 31, 2012
	mar-12
	Ps.
Income before taxes		4,146
Non cash charges to net income		1,434
		5,580
Change in working capital		(106	)
Resources Generated by Operating Activities		5,474
Investments		(1,112	)
Debt increase (decrease)		(3,517	)
Other		(559	)
Increase in cash and cash equivalents		286
Cash, cash equivalents and marketable securities at begining of period		12,173
Translation Effect		(1,077	)
Cash, cash equivalents and marketable securities at end of period		11,382

April 26, 2012

Page 11

MEXICO & CENTRAL AMERICA DIVISION OPERATING RESULTS (Mexico, Guatemala, Nicaragua, Costa Rica and Panama)

Coca-Cola FEMSA is including the results of Grupo Tampico as of October 2011 and Grupo CIMSA as of December 2011 in the Company’s Mexico & Central America divisions’ operating results.

Revenues

Reported total revenues from our Mexico and Central America division increased 30.2% to Ps. 14,473 million in the first quarter of 2012, as compared to the same period in 2011, supported by the integration of Grupo Tampico and Grupo CIMSA in our Mexican operations ⁽¹⁾ . Excluding the recently integrated territories in Mexico, total revenues grew 11.2%. On the same basis, increased average price per unit case, mainly reflecting selective price increases across our product portfolio implemented over the past several months, accounted for close to 70% of incremental total revenues and higher volumes represented the balance. On a currency neutral basis and excluding the recently merged territories in Mexico, total revenues increased 10.2%.

Reported total sales volume increased 24.3% to 412.4 million unit cases in the first quarter of 2012, as compared to the first quarter of 2011. Excluding the integration of Grupo Tampico and Grupo CIMSA in Mexico, volumes grew 3.3% to 342.6 million unit cases. On the same basis, sparkling beverages grew 4%, driven by a 5% increase in brand Coca-Cola , accounting for approximately 95% of incremental volumes. Still beverages grew 5% mainly driven by the Jugos del Valle line of products and the introduction of the Estrella Azul portfolio, representing the balance. Our bottled water portfolio, including bulk water, remained flat as compared with the first quarter of 2011.

Operating Income

Our reported gross profit increased 27.6% to Ps. 6,792 million in the first quarter of 2012 as compared to the same period in 2011. Reported cost of goods sold increased 32.5% as a result of higher sweetener costs across the division and PET cost pressures in Central America, in combination with the depreciation of the average exchange rate of the Mexican peso, ⁽²⁾ the Costa Rican Colon ⁽²⁾ and the Nicaraguan Cordoba ⁽²⁾ as applied to our U.S. dollar-denominated raw material costs. Reported gross margin reached 46.9% in the first quarter of 2012, as compared with 47.9% in the same period of the previous year.

Reported operating income increased 12.7% to Ps. 1,882 million in the first quarter of 2012, compared to Ps. 1,670 million in the same period of 2011. Our reported operating margin was 13.0% in the first quarter of 2012, as compared with 15.0% in the same period of 2011. Excluding the integration of Grupo Tampico and Grupo CIMSA in Mexico, operating income grew 1.0%. On the same basis, operating expenses increased mainly as a result of continued marketing investments across the division and additional expenses related to the development of information systems and commercial capabilities in connection with our commercial models.

(1) Our Mexican operations include Grupo Tampico’s results as of October, 2011 and Grupo CIMSA’s results as of December, 2011

(2) See page 11 for average and end of period exchange rates for the first quarter of 2012

April 26, 2012

Page 12

SOUTH AMERICA DIVISION OPERATING RESULTS (Colombia, Venezuela, Brazil and Argentina)

Volume and average price per unit case exclude beer results.

Revenues

Reported total revenues were Ps. 19,069 million in the first quarter of 2012, an increase of 29.4% as compared to the same period of 2011 as a result of double-digit total revenue growth in every territory. Excluding beer, which accounted for Ps. 981 million during the quarter, revenues increased 30.5% to Ps. 18,088 million. Excluding beer, higher average prices per unit case across our operations accounted for close to 80% of incremental revenues and volume growth in every territory contributed the balance. On a currency neutral basis, total revenues increased 23.9%.

Reported total sales volume in our South America division increased 6.4% to 290.6 million unit cases in the first quarter of 2012 as compared to the same period of 2011, as a result of growth in every operation. Our sparkling beverage portfolio grew 6%, driven by 11% growth of brand Coca-Cola in Argentina and Venezuela and 14% growth in flavored sparkling beverages in the division, accounting for approximately 75% of incremental volumes. The still beverage category grew 29%, mainly driven by the introduction of the Jugos del Valle line of business in Venezuela, representing close to 20% of incremental volumes. Our water portfolio, including bulk water, grew 4%, contributing the balance.

Operating Income

Reported gross profit reached Ps. 8,412 million, an increase of 30.2% in the first quarter of 2012, as compared to the same period of 2011. Reported cost of goods sold increased 28.8% mainly driven by higher year-over-year PET costs in Brazil and Venezuela, in combination with the depreciation of the average exchange rate of the Argentine peso ⁽¹⁾ and the Brazilian real ⁽¹⁾ as applied to our U.S. dollar-denominated raw material costs. Reported gross margin reached 44.1% in the first quarter of 2012, an expansion of 30 basis points as compared to the same period of 2011.

Our reported operating income increased 13.3% to Ps. 2,432 million in the first quarter of 2012, compared to the same period of 2011. Reported operating expenses increased 40.2%, mainly as a result of (i) higher labor costs in Venezuela and Brazil, in combination with higher labor and freight costs in Argentina and (ii) increased marketing investment to reinforce our execution in the marketplace, widen our cooler coverage and broaden our returnable base availability across the division. Our reported operating margin was 12.8% in the first quarter of 2012 as compared with 14.6% in the same period of 2011.

(1)

See page 11 for average and end of period exchange rates for the first quarter of 2012

April 26, 2012

Page 13

RECENT DEVELOPMENTS

On March 20, 2012, Coca-Cola FEMSA held its Annual Ordinary General Shareholders Meeting during which its shareholders approved the Company’s consolidated financial statements for the year ended December 31, 2011, the declaration of dividends corresponding to fiscal year 2011 and the composition of the Board of Directors and Committees for 2012. Shareholders approved the payment of a cash dividend in the amount of Ps. 2.77 per each share. The dividend will be paid as of May 30, 2012.

On March 29, 2012, Coca-Cola FEMSA’s presented its quarterly and full year 2011 results under International Financial Reporting Standards. Beginning in 2012, Mexican companies with securities listed on the Mexican National Securities’ Registry ( Registro Nacional de Valores ) of the Mexican National Banking and Securities Commission ( Comisión Nacional Bancaria y de Valores ), are required to prepare their financial statements in accordance with International Financial Reporting Standards (“IFRS”) issued by the International Accounting Standards Board (“IASB”). For more information, please refer to the notes to Coca-Cola FEMSA’s 2011 financial statements contained in its annual report or visit the company’s website.

CONFERENCE CALL INFORMATION

Our first-quarter 2012 Conference Call will be held on April 27, 2012, at 08:00 A.M. Eastern Time (07:00 A.M. Mexico City Time). To participate in the conference call, please dial: Domestic U.S.: 866-700-7477 or International: 617-213-8840. We invite investors to listen to the live audiocast of the conference call on the Company’s website, www.coca-colafemsa.com

If you are unable to participate live, an instant replay of the conference call will be available through May 3, 2012. To listen to the replay, please dial: Domestic U.S.: 888-286-8010 or International: 617-801-6888. Pass code: 80296295.

v v v

Coca-Cola FEMSA, S.A.B. de C.V. produces and distributes Coca-Cola, Fanta, Sprite, Del Valle, and other trademark beverages of The Coca-Cola Company in Mexico (a substantial part of central Mexico, including Mexico City, as well as southeast and northeast Mexico), Guatemala (Guatemala City and surrounding areas), Nicaragua (nationwide), Costa Rica (nationwide), Panama (nationwide), Colombia (most of the country), Venezuela (nationwide), Brazil (greater São Paulo, Campiñas, Santos, the state of Mato Grosso do Sul, part of the state of Goias, and part of the state of Minas Gerais), and Argentina (Buenos Aires and surrounding areas), along with bottled water, juices, teas, isotonics, beer, and other beverages in some of these territories. The Company has 35 bottling facilities in Latin America and serves more than 1,700,000 retailers in the region.

v v v

This news release may contain forward-looking statements concerning Coca-Cola FEMSA’s future performance, which should be considered as good faith estimates by Coca-Cola FEMSA. These forward-looking statements reflect management’s expectations and are based upon currently available data. Actual results are subject to future events and uncertainties, many of which are outside Coca-Cola FEMSA’s control, which could materially impact the Company’s actual performance.

References herein to “US$” are to United States dollars. This news release contains translations of certain Mexican peso amounts into U.S. dollars for the convenience of the reader. These translations should not be construed as representations that Mexican peso amounts actually represent such U.S. dollar amounts or could be converted into U.S. dollars at the rate indicated.

v v v

(5 pages of tables to follow)

April 26, 2012

Page 14

Consolidated Income Statement

Expressed in millions of Mexican pesos ⁽¹⁾

	1Q 12			% Rev			1Q 11			% Rev			Reported Δ %			Excluding M&A Effects Δ% ⁽⁵⁾
Volume (million unit cases) ⁽²⁾		703.0						604.8						16.2	%		4.7	%
Average price per unit case ⁽²⁾		45.97						41.09						11.9	%		16.2	%
Net revenues		33,295						25,725						29.4	%
Other operating revenues		247						129						91.5	%
Total revenues		33,542			100	%		25,854			100	%		29.7	%		21.6	%
Cost of goods sold		18,338			54.7	%		14,071			54.4	%		30.3	%
Gross profit		15,204			45.3	%		11,783			45.6	%		29.0	%
Operating expenses		10,953			32.7	%		7,963			30.8	%		37.5	%
Other operative expenses, net		(63	)		-0.2	%		3			0.0	%		-2200.0	%
Operating income ⁽³⁾		4,314			12.9	%		3,817			14.8	%		13.0	%		7.9	%
Other non operative expenses, net		32						45						-28.9	%
Interest expense		483						342						41.2	%
Interest income		105						94						11.7	%
Interest expense, net		378						248						52.4	%
Foreign exchange (gain) loss		(203	)					13						-1661.5	%
Gain on monetary position in Inflationary subsidiries		(7	)					(3	)					133.3	%
Market value gain on ineffective portion of derivative instruments		(32	)					(61	)					-47.5	%
Comprehensive financing result		136						197						-31.0	%
Income before taxes		4,146						3,575						16.0	%
Income taxes		1,400						1,258						11.3	%
Consolidated net income		2,746						2,317						18.5	%
Net controlling interest income		2,636			7.9	%		2,198			8.5	%		19.9	%
Net non-controlling interest income		110						119						-7.6	%
Operating income ⁽³⁾		4,314			12.9	%		3,817			14.8	%		13.0	%		7.9	%
Depreciation		1,201						845						42.1	%
Amortization and other operative non-cash charges		162						75						116.0	%
Operative cash flow ⁽³⁾⁽⁴⁾		5,677			16.9	%		4,737			18.3	%		19.8	%		13.4	%

⁽¹⁾

Except volume and average price per unit case figures

⁽²⁾

Sales volume and average price per unit case exclude beer results

⁽³⁾

The Operating income and Operative cash flow lines are presented as non-gaap measures for the convenience of the reader

⁽⁴⁾

Operative cash flow = Operating Income + depreciation, amortization & other operative non-cash charges

As of October 2011, we integrated Grupo Tampico in the operations of Mexico

As of December 2011, we integrated Grupo CIMSA in the operations of Mexico

⁽⁵⁾

Excluding M&A Effects means, with respect to a year-over-year comparison, the increase in a given measure excluding the effects of mergers, acquisitions and divestitures. We believe this measure allows us to provide investors and other market participants with a better representation of the performance of our business. In preparing this measure, management has used its best judgment, estimates and assumptions in order to maintain comparability.

April 26, 2012

Page 15

Consolidated Balance Sheet

Expressed in millions of Mexican pesos.

Assets	Mar 12			Dec 11
Current Assets
Cash, cash equivalents and marketable securities	Ps.	11,382		Ps.	12,173
Total accounts receivable		6,626			8,631
Inventories		7,629			7,549
Other current assets		3,592			3,685
Total current assets		29,229			32,038
Property, plant and equipment
Property, plant and equipment		63,741			64,645
Accumulated depreciation		(26,767	)		(26,703	)
Total property, plant and equipment, net		36,974			37,942
Other non-current assets		69,273			70,475
Total Assets	Ps.	135,476		Ps.	140,455

Liabilities and Equity		Mar 12			Dec 11
Current Liabilities
Short-term bank loans and notes	Ps.	2,155		Ps.	5,541
Suppliers		10,617			11,852
Other current liabilities		13,306			7,697
Total Current Liabilities		26,078			25,090
Long-term bank loans		16,160			16,976
Other long-term liabilities		5,175			5,377
Total Liabilities		47,413			47,443
Equity
Non-controlling interest		3,102			3,053
Total controlling interest		84,961			89,959
Total equity		88,063			93,012
Liabilities and Equity	Ps.	135,476		Ps.	140,455

April 26, 2012

Page 16

Mexico & Central America Division

Expressed in millions of Mexican pesos ⁽¹⁾

	1Q 12			% Rev			1Q 11			% Rev			Reported Δ %			Excluding M&A Effects Δ% ⁽⁴⁾
Volume (million unit cases)		412.4						331.7						24.3	%		3.3	%
Average price per unit case		34.83						33.45						4.1	%		7.2	%
Net revenues		14,365						11,096						29.5	%
Other operating revenues		108						23						369.6	%
Total revenues		14,473			100.0	%		11,119			100.0	%		30.2	%		11.2	%
Cost of goods sold		7,681			53.1	%		5,797			52.1	%		32.5	%
Gross profit		6,792			46.9	%		5,322			47.9	%		27.6	%
Operating expenses		4,920			34.0	%		3,661			32.9	%		34.4	%
Other operative expenses, net		(10	)		-0.1	%		(9	)		-0.1	%		11.1	%
Operating income ⁽²⁾		1,882			13.0	%		1,670			15.0	%		12.7	%		1.0	%
Depreciation, amortization & other operative non-cash charges		636			4.4	%		442			4.0	%		43.9	%
Operative cash flow ⁽²⁾⁽³⁾		2,518			17.4	%		2,112			19.0	%		19.2	%		4.7	%

⁽¹⁾

Except volume and average price per unit case figures

⁽²⁾

The Operating income and Operative cash flow lines are presented as non-gaap measures for the convenience of the reader

⁽³⁾

Operative cash flow = Operating Income + Depreciation, amortization & other operative non-cash charges

As of October 2011, we integrated Grupo Tampico in the operations of Mexico

As of December 2011, we integrated Grupo CIMSA in the operations of Mexico

⁽⁴⁾

South America Division

Expressed in millions of Mexican pesos ⁽¹⁾

	1Q 12			% Rev			1Q 11		% Rev			Reported Δ%			Excluding M&A Effects Δ% ⁽⁵⁾
Volume (million unit cases) ⁽²⁾		290.6						273.1					6.4	%		6.4	%
Average price per unit case ⁽²⁾		61.77						50.36					22.6	%		22.6	%
Net revenues		18,930						14,629					29.4	%
Other operating revenues		139						106					31.1	%
Total revenues		19,069			100.0	%		14,735		100.0	%		29.4	%		29.4	%
Cost of goods sold		10,657			55.9	%		8,274		56.2	%		28.8	%
Gross profit		8,412			44.1	%		6,461		43.8	%		30.2	%
Operating expenses		6,033			31.6	%		4,302		29.2	%		40.2	%
Other operative expenses, net		(53	)		-0.3	%		12		0.1	%		-541.7	%
Operating income ⁽³⁾		2,432			12.8	%		2,147		14.6	%		13.3	%		13.3	%
Depreciation, amortization & other operative non-cash charges		727			3.8	%		478		3.2	%		52.1	%
Operative cash flow ⁽³⁾⁽⁴⁾		3,159			16.6	%		2,625		17.8	%		20.3	%		20.3	%

⁽¹⁾

Except volume and average price per unit case figures.

⁽²⁾

Sales volume and average price per unit case exclude beer results

⁽³⁾

The Operating income and Operative cash flow lines are presented as non-gaap measures for the convenience of the reader.

⁽⁴⁾

Operative cash flow = Operating Income + depreciation, amortization & other operative non-cash charges.

⁽⁵⁾

April 26, 2012

Page 17

SELECTED INFORMATION

For the three months ended March 31, 2012 and 2011

Expressed in millions of Mexican pesos.

	1Q 12		1Q 11
Capex	1,253.1	Capex	629.9
Depreciation	1,201.0	Depreciation	845.0
Amortization & Other non-cash charges	162.0	Amortization & Other non-cash charges	75.0

VOLUME

Expressed in million unit cases

	1Q 12										1Q 11
	Sparkling		Water ⁽¹⁾		Bulk Water ⁽²⁾		Still		Total		Sparkling		Water ⁽¹⁾		Bulk Water ⁽²⁾		Still		Total
Mexico		268.7		19.1		67.3		20.3		375.4		217.9		14.4		49.1		16.3		297.7
Central America		31.4		2.0		0.1		3.5		37.0		28.8		2.1		0.1		3.0		34.0
Mexico & Central America		300.1		21.1		67.4		23.8		412.4		246.7		16.5		49.2		19.3		331.7
Colombia		44.6		5.1		6.8		4.1		60.6		43.2		5.0		6.8		4.0		59.0
Venezuela		43.9		1.9		0.4		2.7		48.9		35.6		1.7		0.5		0.7		38.5
Brazil		108.2		6.9		0.8		5.9		121.8		109.5		6.5		0.8		5.3		122.1
Argentina		52.8		3.8		0.2		2.5		59.3		48.2		3.3		0.2		1.8		53.5
South America		249.5		17.7		8.2		15.2		290.6		236.5		16.5		8.3		11.8		273.1
Total		549.6		38.8		75.6		39.0		703.0		483.2		33.0		57.5		31.1		604.8

⁽¹⁾ Excludes water presentations larger than 5.0 Lt. Includes flavored water

⁽²⁾ Bulk Water = Still bottled water in 5.0, 19.0 and 20.0 - liter packaging presentations. Includes flavored water

Volume of Mexico, the Mexico & Central America division, and Consolidated for the first quarter 2012 results includes 3 months of Grupo Tampico´s and Grupo CIMSA’s results, accounting for 69.8 million unit cases, of which 62% is Sparkling Beverages, 6% is Water, 27% is Bulk Water and 5% is Still Beverages.

April 26, 2012

Page 18

March 2012

Macroeconomic Information

	Inflation ⁽¹⁾
	LTM			1Q 2012			YTD

Mexico		3.73	%		0.97	%		0.97	%
Colombia		3.40	%		1.47	%		1.47	%
Venezuela		24.60	%		3.54	%		3.54	%
Brazil		5.24	%		1.22	%		1.22	%
Argentina		9.81	%		2.61	%		2.61	%

⁽¹⁾ Source: inflation is published by the Central Bank of each country.

Average Exchange Rates for each Period

	Quarterly Exchange Rate (local currency per USD)
	1Q 12		1Q 11		Δ%

Mexico		13.0165		12.0832		7.7	%
Guatemala		7.7754		7.8304		-0.7	%
Nicaragua		23.1181		22.0161		5.0	%
Costa Rica		515.2961		508.3871		1.4	%
Panama		1.0000		1.0000		0.0	%
Colombia		1,800.6717		1,877.0877		-4.1	%
Venezuela		4.3000		4.3000		0.0	%
Brazil		1.7678		1.6673		6.0	%
Argentina		4.3411		4.0135		8.2	%

End of Period Exchange Rates

	Exchange Rate (local currency per USD)
	Mar 12		Mar 11		Δ%

Mexico		12.8489		11.9678		7.4	%
Guatemala		7.6919		7.6884		0.0	%
Nicaragua		23.2571		22.1474		5.0	%
Costa Rica		513.5800		506.1600		1.5	%
Panama		1.0000		1.0000		0.0	%
Colombia		1,784.6600		1,879.4700		-5.0	%
Venezuela		4.3000		4.3000		0.0	%
Brazil		1.8221		1.6287		11.9	%
Argentina		4.3790		4.0540		8.0	%

April 26, 2012

Page 19