Mexico's Top 100 companies: our annual look at the cream of the crop.Yes, it is that time of year again--when we at BUSINESS MIXICO empirically break down the nation's corporate world, separating the winners from the losers and the blue chips from the portfolio fillers. For the fifth consecutive June June: see month. , we present our Top 100 companies, using a formula based on such critical, bottom-line bot·tom-line adj. 1. Concerned exclusively with costs and profits: bottom-line issues. 2. Ruthlessly realistic; pragmatic: a bottom-line political strategy. factors as total assets, number of employees, earnings and equity. Relying entirely on cold, hard numbers, this objective list--which includes sector-by-sector analysis-has become an indispensable tool to savvy investors looking for Looking for In the context of general equities, this describing a buy interest in which a dealer is asked to offer stock, often involving a capital commitment. Antithesis of in touch with. an overview at a glance. Over the course of 2002, a crisis in Argentina Argentina (ärjəntē`nə, Span. ärhāntē`nä), officially Argentine Republic, republic (2005 est. pop. 39,538,000), 1,072,157 sq mi (2,776,889 sq km), S South America. , talk of war in Iraq Iraq or Irak (both: ēräk`, ĭrăk`), officially Republic of Iraq, republic (2005 est. pop. 26,075,000), 167,924 sq mi (434,924 sq km), SW Asia. and devastating dev·as·tate tr.v. dev·as·tat·ed, dev·as·tat·ing, dev·as·tates 1. To lay waste; destroy. 2. To overwhelm; confound; stun: was devastated by the rude remark. scandals on Wall Street and in corporate headquarters turned the fiscal playing field into a minefield and gave pause to those executives looking to make even the most conservative of moves. The ongoing recession led rivals to fight bitterly for minute slices of market share, as most companies tried not to tumble, choosing instead to wait until better times. One of those conservative stalwarts was Carlos Carlos, prince of the Asturias Carlos, 1545–68, prince of the Asturias, son of Philip II of Spain and Maria of Portugal. Don Carlos, who seems to have been mentally unbalanced and subject to fits of homicidal mania, was imprisoned by his father in Slim, Latin Lat·in n. 1. a. The Indo-European language of the ancient Latins and Romans and the most important cultural language of western Europe until the end of the 17th century. b. America's richest man and the force behind five of our top 10 companies. His presence has been an immovable fixture An article in the nature of Personal Property which has been so annexed to the realty that it is regarded as a part of the real property. That which is fixed or attached to something permanently as an appendage and is not removable. of the blue-chip blue chip also blue-chip·per n. 1. A stock that sells at a high price because of public confidence in its long record of steady earnings. 2. An extremely valuable asset or property. 3. end of our list since its inception, and his telecommunications Communicating information, including data, text, pictures, voice and video over long distance. See communications. toys in Telmex and Carso Global Telecom Carso Global Telecom is a conglomerate of companies formed in 1996 after separating all telecommunication-related companies from Grupo Carso. This company does not have any employees as it is only a holder of stocks of companies such as Telmex, Telcel and América Móvil. enjoyed a banner year in particular, checking in at No. 1 and No. 2. Word has long been out on Slim's business acumen acumen Astuteness, perception, perspicacity , however, and this article does not focus on his empire, but rather the annual list as a whole, which includes a wide array of little-known Adj. 1. little-known - unknown to most people unknown - not known; "an unknown amount"; "an unknown island"; "an unknown writer"; "an unknown source" little-known adj → poco conocido offerings for bargain hunters Bargain Hunters was a game show on ABC in the summer of 1987, hosted by Peter Tomarken. Games Each episode featured six contestants, with two playing one of the following games — Bargain Quiz, Bargain Trap and Bargain Busters — at a time. . Our market columnist columnist, the writer of an essay appearing regularly in a newspaper or periodical, usually under a constant heading. Although originally humorous, the column in many cases has supplanted the editorial for authoritative opinions on world problems. , Bolsa Bolsa Spanish for stock exchange. insider Gianluca Baratti, has brought it all together--analyzing the reasons behind the rise and fall of the nation's companies. With the perspective of a heavy player who spends his days on the trading floor, Baratti takes a look back at the bygone by·gone adj. Gone by; past: bygone days. n. One, especially a grievance, that is past: Let bygones be bygones. year and the up-and-down up-and-down adj. 1. Characterized by or exhibiting an alternating upward and downward movement. 2. Variable; changeable. 3. Vertical. landscape that CEOs had to navigate (1) "Surfing the Web." To move from page to page on the Web. (2) To move through the menu structure in a software application. to keep their firms' spots secure in a dynamic and cutthroat cut·throat n. 1. A murderer, especially one who cuts throats. 2. An unprincipled, ruthless person. 3. A cutthroat trout. adj. 1. Cruel; murderous. 2. Top 100. In 2002, you weren't were·n't Contraction of were not. weren't were not safe if your name was Enron Enron A U.S. energy-trading and utilities company that housed one of the biggest accounting frauds in history. Enron's executives employed accounting practices that falsely inflated the company's revenues, which, at the height of the scandal, made the firm become the seventh . Or WorldCom The former name of MCI. Based in Jackson, MS, WorldCom, Inc. was a major, international telecommunications carrier. It was founded in 1983 by Bernard Ebbers as Long Distance Discount Service (LDDS), a reseller of AT&T WATS lines to small businesses. . Or United Airlines. The list can and does go on. This wasn't was·n't Contraction of was not. wasn't was not wasn't be a good time to be a global giant. While a number of established businesses suddenly went from "buy" to "junk junk Classic Chinese sailing vessel of ancient unknown origin, still in wide use. High-sterned, with a projecting bow, the junk carries up to five masts on which are set square sails consisting of panels of linen or matting flattened by bamboo strips. ," those that had taken more prudent, hesitant hes·i·tant adj. Inclined or tending to hesitate. hes  i·tant·ly adv. steps--such as not putting all their eggs
in the technology basket or relying on accounting loopholes--counted
their blessings. And that is how we saw Mexico's top 10 companies
get through a tough year.
In particular, Curbs Slim's empire remains a dominant feature of the blue-chip end of our Top 100, with five companies in the top 10--Telmex, Carso Global Telecom, America America [for Amerigo Vespucci], the lands of the Western Hemisphere—North America, Central (or Middle) America, and South America. The world map published in 1507 by Martin Waldseemüller is the first known cartographic use of the name. Movil, Grupo Carso Grupo Carso is a conglomerate of companies owned by the Mexican tycoon Carlos Slim. It was formed in 1990 after the merge of Corporación Industrial Carso and Grupo Inbursa. The name Carso stands for Carlos Slim and Soumaya Domit de Slim †, wife of Slim. and America Telecom. The common theme among the top businesses was low risk-taking, cost cutting and just getting through the recession. Blue chips sailed through the year rather unaffected, while going bargain hunting Bargain Hunt is a daytime television programme on BBC One, which started in the year 2000. Format Two teams (the Reds and the Blues), both made up of two people, are given £300 (originally £200) each. both regionally and abroad. During 2002, Mexican companies This is a List of Mexican companies:
Regionally, the year kicked off dreadfully dread·ful adj. 1. Inspiring dread; terrible. 2. Extremely unpleasant; distasteful or shocking: dreadful table manners; this dreadful heat. for Latin America Latin America, the Spanish-speaking, Portuguese-speaking, and French-speaking countries (except Canada) of North America, South America, Central America, and the West Indies. , with a painfully familiar scenario unfolding in Argentina. The default was followed by devaluation devaluation, decreasing the value of one nation's currency relative to gold or the currencies of other nations. It is usually undertaken as a means of correcting a deficit in the balance of payments. , and the cutting off of people's access to their money. A succession of presidents then tried to redress Compensation for injuries sustained; recovery or restitution for harm or injury; damages or equitable relief. Access to the courts to gain Reparation for a wrong. REDRESS. The act of receiving satisfaction for an injury sustained. the situation, spreading tremors across the region, which even reached as far as the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. . As the Argentine peso The peso (originally established as the nuevo peso argentino or peso convertible) is the currency of Argentina. Its ISO 4217 code is ARS, and the symbol used locally for it is $ (to avoid confusion, Argentines frequently use US$, dived, a number of local companies (such as America Movil, Bimbo and the beverage companies) took hits from their South American operations 'South American' operation Surgical oncology A radical operation for 'frozen' pelvis, which consists of en bloc resection of the uterus and rectum. See Frozen pelvis. Cf 'All-American' and 'North American' operations. . However, that dark sky swiftly cleared here in Mexico Mexico, city, Mexico Mexico or Mexico City, Span. Ciudad de México (Méjico), city (1990 pop. 8,236,960; 1991 met. area est. 20,899,000), central Mexico, capital and largest city of Mexico. as investors started to chatter Chatter See: Whipsawed , speculate and eventually bet on the likelihood that Mexico would have its sovereign debt rating bumped up one notch notch (noch) incisure; an indentation on the edge of a bone or other organ. aortic notch dicrotic n. cardiac notch 1. by the major rating agencies (Moody's Investors Service Moody's Investors Service A leading global credit rating, research and risk analysis firm. Moody's Investors Service A leading firm engaged in credit rating, risk analysis, and research of fixed-income securities and their issuers. , Fitch Ratings Fitch Ratings An international rating agency for financial institutions, insurance companies, and corporate, sovereign, and municipal debt. Fitch Ratings has headquarters in New York and London and is wholly owned by FIMALAC of Paris. and Standard & Poor's). The speculation proved justified, as one by one the three rating agencies agreed in early 2002 that Mexico was worthy of the long-awaited and much-prized investment grade--a green light for investors to include more local stocks in their portfolios and funds. Meanwhile, north of the border, the Dow (Direct OverWrite) See magneto-optic disk. continued to recover from the 9-11 fallout fallout, minute particles of radioactive material produced by nuclear explosions (see atomic bomb; hydrogen bomb; Chernobyl) or by discharge from nuclear-power or atomic installations and scattered throughout the earth's atmosphere by winds and convection currents. . Mexican Mexican named after or originating in Mexico. Mexican axolotl see ambystomamexicanum. Mexican beaded lizard (Heloderma horridum stocks climbed aboard the rally, taking the local index to a high of 7,574 points in mid-April Noun 1. mid-April - the middle part of April period, period of time, time period - an amount of time; "a time period of 30 years"; "hastened the period of time of his recovery"; "Picasso's blue period" Apr, April - the month following March and preceding May . We had estimates of a recovery in GDP GDP (guanosine diphosphate): see guanine. and continued drops in inflation. Even oil prices were beginning to recover from a worldwide glut glut pronounced as rut, slut Vox populi An excess of a service or skilled labor in a particular area. See Physician glut. as oil producers (including Mexico) agreed to cut back on production. However, U.S. markets had other ideas, and 2002 soon became synonymous with synonymous with adjective equivalent to, the same as, identical to, similar to, identified with, equal to, tantamount to, interchangeable with, one and the same as corporate accounting scandals Accounting scandals, or corporate accounting scandals are political and business scandals which arise with the disclosure of misdeeds by trusted executives of large public corporations. and the crash of once-global giants. As more and more dodgy dodgy - Synonym with flaky. Preferred outside the US accounts were brought to the surface, investors rightfully panicked, and as quickly as the markets shot up, they came crashing back down. The bear was going to be in command for the second half of the year. As the gloom gloom n. 1. a. Partial or total darkness; dimness: switched on a table lamp to banish the gloom of a winter afternoon. b. A partially or totally dark place, area, or location. spread, each piece of macro data was taken more and more seriously. Furthermore, U.S. firms started cutting back, unemployment began to rise, consumer confidence slipped, and as war edged closer, gas prices rose. Even attempts by the federal government (base rate cuts and tax pledges) failed to lift the cloud. Mexico, which sends over 80% of its exports to the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , couldn't could·n't Contraction of could not. couldn't could not get out of its shadow. Meanwhile, we saw a new global player in the currency markets. The euro strengthened to the dollar's loss, and consequently, the Mexican peso started to lose its luster, slipping from 9 to the euro to well above 11, while showing losses of -6% versus the dollar. This depreciation was felt strongly on companies' bottom lines as they serviced dollar-denominated debt in peso revenues. Although in theory, the exporters should have begun to benefit, U.S. demand was lagging Lagging Strategy used by a firm to stall payments, normally in response to exchange rate projections. . Another problem looming looming: see mirage. on the Western horizon was the entrance of China into the World Trade Organization. The sector that was hardest hit was the former darling of Mexico's industry, the maquiladoras maquiladoras (mäkē'lädō`räs), Mexican assembly plants that manufacture finished goods for export to the United States. The maquiladoras are generally owned by non-Mexican corporations. . A number of foreign companies looked at the figures and decided the Far East would be a much cheaper place for assembly operations. Many maquiladoras left the northern border states Border States The slave states of Delaware, Maryland, Virginia, Kentucky, and Missouri that were adjacent to the free states of the North during the Civil War. during the slowdown For articles with similar titles, see Slow Down (disambiguation). A slowdown is an industrial action in which employees perform their duties but seek to reduce productivity or efficiency in their performance of these duties. and never came back. Further abroad, other markets were suffering too, and this meant a tough year for Mexico's global players, who suffered from the worldwide slowdown. Nonetheless, the advantageous market positioning of a number of companies led to some opportunistic opportunistic /op·por·tu·nis·tic/ (op?er-tldbomacn-is´tik) 1. denoting a microorganism which does not ordinarily cause disease but becomes pathogenic under certain circumstances. 2. purchases in foreign markets. Mexican companies discreetly dis·creet adj. 1. Marked by, exercising, or showing prudence and wise self-restraint in speech and behavior; circumspect. 2. Free from ostentation or pretension; modest. made US$12 billion worth of purchases on the year. Coca-Cola Femsa Coca-Cola FEMSA is the anchor bottler of Coca-Cola and its related soft drink products in much of Latin America. The company is an important part of the Coca-Cola System. Specifically, Coca-Cola FEMSA distributes about 10% of the worldwide production of Coca-Cola products. (which moved up two spots on our annual chart to No. 21) led with its purchase of Panamco, while Amdrica Movil (No. 7) increased its stake in Brazil's Telecom Americas, while making additional moves in Ecuador, Argentina and Colombia. In the other direction, we saw a number of foreign companies take an interest in Mexico's recovering banking sector while a number of new as well as old players stepped into the Mexican financial arena. The government also brought in extra revenues by selling assets held since the bank bailout bailout The financial rescue of a faltering business or other organization. Government guarantees for loans made to Chrysler Corporation constituted a bailout. of the mid- mid- pref. Middle: midbrain. 1990s, which were mostly in the banking sector. As a result of all these moves, we felt it would be correct to include the remaining banks in our Top 100 list this year. BIG MOVERS AND TRENDS The inclusion of banking groups caused a downward shift in second-tier companies, and gave us a new top 5 entry (Bancomer). Another top 10 new entry was Amtel, the holding company for America Movil, which was spun off from Grupo Carso Telecom (unchanged at No. 2) early enough in the year to make it into our charts. Looking at the top 10, it is very obvious that the Carlos Slim umbrella of companies still dominates. So what's the secret of the richest man in Latin America? "Owning such a cash cow Cash Cow 1. One of the four categories (quadrants) in the BCG growth-share matrix that represents the division within a company that has a large market share within a mature industry. 2. as Telmex gave him the springboard to move into other areas," said a leading Mexican economist who wished to remain anonymous. "Without doubt, the man is very intelligent...He's well known and people listen to him. He's like a Mexican Bill Gates (person) Bill Gates - William Henry Gates III, Chief Executive Officer of Microsoft, which he co-founded in 1975 with Paul Allen. In 1994 Gates is a billionaire, worth $9.35b and Microsoft is worth about $27b. , and rarely makes mistakes." The only substantial risers have been among the smaller companies--Lamosa, up 8 places to 60 and Ara, up 5 to 45, and Corporacion Moctezuma, up 5 to 54. The only positive mover mover /mov·er/ (moo´ver) that which produces motion. prime mover a muscle that acts directly to bring about a desired movement. in the top 10 was Femsa (up 2 to No. 6), leapfrogging Leapfrogging is a theory of development in which developing countries skip inferior, less efficient, more expensive or more polluting technologies and industries and move directly to more advanced ones. rival Grupo Modelo Grupo Modelo is a large brewery in Mexico. It maintains a large part of the Mexican beer export market and produces top-selling imported beer in the United Kingdom, United States and Canada. . However, there were much more dramatic moves down the list. The most spectacular were Cintra, the government's airline holder, and wireless flounderer Iusacell, both of which tumbled 20 places. Cintra, which holds both Aeromexico and Mexicana de aviacion, is lining up a sale of those assets once the international scenario-- which continued to be bleak The bleak is a small pelagic fish of the Cyprinid family. Description The body of the bleak is elongated and flat. The head is pointed and the relatively small mouth is turned upwards. The anal fin is long and has 18 to 23 fin rays. The lateral line is complete. for airlines throughout the year--is favorable fa·vor·a·ble adj. 1. Advantageous; helpful: favorable winds. 2. Encouraging; propitious: a favorable diagnosis. 3. . Elsewhere, Iusacell (No. 59) has watched market share fall, revenues fall, debts loom loom, frame or machine used for weaving; there is evidence that the loom has been in use since 4400 B.C. Modern looms are of two types, those with a shuttle (the part that carries the weft through the shed) and those without; the latter draw the weft from a and competition shove it aside. The company, owned in part by Verizon and in part by the UK's Vodafone, appeared to have been almost abandoned by the two giants as they concentrated on steering The process whereby builders, brokers, and rental property managers induce purchasers or lessees of real property to buy land or rent premises in neighborhoods composed of persons of the same race. their ships through local waters. The future looks pretty bleak for this one. On an even gloomier note, a number of companies dropped off the Top 100 list following suspension this year from the Bolsa and bankruptcy problems In mathematical sociology, and especially game theory, the bankruptcy problem is a distribution problem involving the allocation of a given amount of a perfectly divisible good among a group of agents. , which have resulted in a lack of up-to-date financial information and in some cases, the Mexican equivalent of Chapter 11 (see "Fall From Grace" table above). RETAIL SECTOR The retail sector was waiting all year for a significant drop in consumption, which fortunately was muted mut·ed adj. 1. a. Muffled; indistinct: a muted voice. b. Mute or subdued; softened: muted colors. 2. when it did arrive. Walmex (No. 5) grabbed market share by the handful as it continued its time-tested strategy of aggressive expansion, competitive pricing, direct competition and squeezing of margins. "Wal-Mart has hit Mexico with a new pricing strategy," said a Mexican retail analyst for a leading bank. "It has introduced everyday low prices to replace the old fashioned n. 1. A cocktail consisting of whiskey, bitters, and sugar, garnished with with fruit slices and often a cherry. Noun 1. old fashioned - a cocktail made of whiskey and bitters and sugar with fruit slices high-low strategy of large discounts on given days." The company spent the whole year trumping trump 1 n. 1. Games a. A suit in card games that outranks all other suits for the duration of a hand. Often used in the plural. b. A card of such a suit. c. A trump card. 2. investor's bullish Bullish Word used to describe an investor's attitude. Bullish refers to an optimistic outlook, while bearish means a pessimistic outlook. bullish expectations as same-store sales Same-store sales is a business term which refers to the revenue generated by one of a retail chain's specific outlets during a certain period of time (often a fiscal quarter or a particular shopping season), compared to an identical period in the past, usually in the previous year. (a figure used commonly by analysts to gauge a retailers' growth) headed up all year, and Wal-Marts, Bodegas and Sam's Clubs Sam's Club is a membership-only warehouse club owned and operated by Wal-Mart Stores, Inc. History The first Sam's Club opened in April 1983 in Midwest City, Oklahoma in the United States.[1] Sam's Club is named after Sam Walton. (the main retailers under the Walmex umbrella) sprung up all over the place. And who were the losers? Well, significant gains have been made to the loss of the informal sector, which also can't compete with global players. On the main stage, however, the biggest loser (jargon) loser - An unexpectedly bad situation, program, programmer, or person. Someone who habitually loses. (Even winners can lose occasionally). Someone who knows not and knows not that he knows not. was Comerci (down four to No. 20), which saw revenues and samestore sales slide as Walmex went for its jugular jugular /jug·u·lar/ (jug´u-lar) 1. cervical. 2. pertaining to a jugular vein. 3. a jugular vein. jug·u·lar adj. . Nonetheless, Comerci survived and managed to finish the year positively, unveiling a new up-to-date distribution center, a new advertising guru guru (g  `r, g r` (the same man who introduced the incredibly successful
"Soy Totalmente Palacio" campaign to high-end retailer Palacio
de Hierro) and managing to snatch snatchremoval of a newborn animal from the dam before it has an opportunity to suck. The objective is to rear it independently and free of colostrum-borne infection or of colostral antibodies. the concession for the government's Christmas coupons back from Walmex, resulting in 14% more sales in the December-January period. Also on a positive note at year's end, Comerci snapped up French retailer Auchan's four stores in the country as it left the domestic market. Meanwhile, the other retailers were also having a rocky ride. Soriana (down three to No. 16) dropped off badly midyear mid·year n. 1. The middle of the calendar or academic year. 2. a. An examination given in the middle of a school year. b. midyears A series of such examinations. , due to recession hitting its core northern territory harder and as a result of increased competition in the region. Monterrey has become a retail battleground. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. our retail analyst, "Something is likely to happen with Soriana in this coming year, so keep your ears open." Meanwhile, Gigante (down nine spots to No. 24) has struggled mightily might·i·ly adv. 1. In a mighty manner; powerfully. 2. To a great degree; greatly. Adv. 1. mightily - powerfully or vigorously; "he strove mightily to achieve a better position in life" 2. , and its recent moves to take market share away from mom-and-pop stores indicate that its time of competing with the big boys may be over. TELECOMMUNICATIONS Despite the nature of the local market (a monopoly for fixed telephony Meaning "sound over distance," it refers to electronically transmitting the human voice. In the beginning, telephony dealt only with analog signals in the circuit-switched networks of the telephone companies. , and a quasi-monopoly in the wireless market), local companies were surprisingly resilient See resiliency. in the face of a global crash for telecom stocks. Although U.S. companies continued to lobby for a greater opening of the sector (a U.S. company currently can only own 49% of a local fixed-lined operator), the top Mexican company, Telmex, continues to cede legal regulatory ground in the slowest possible way and refuses to allow the competition to gain even a toehold. The minor competition (Avantel and Alestra) have faded more and more and are now in serious debt. However, it hasn't exactly been that great a year for Telmex, which has reluctantly kept its rates the same, while agreeing to lower cross-border interconnection in·ter·con·nect v. in·ter·con·nect·ed, in·ter·con·nect·ing, in·ter·con·nects v.intr. To be connected with each other: The two buildings interconnect. v.tr. fees. In the growing wireless market, we have seen Telmex's sister company, America Movil, continue to add customers at an impressive rate. As it found itself in a very healthy state compared to regional peers, it has managed to build up its market share in other Latin American markets with some timely, but not excessively priced, acquisitions. What of the competition? In the fixed-line market, forget it--the only losses Telmex is suffering is to wireless telephony telephony without wires, usually employing electric waves of high frequency emitted from an oscillator or generator, as in wireless telegraphy. A telephone transmitter causes fluctuations in these waves, it being the fluctuations only which affect the receiver. See also: Wireless , most of which is controlled by its sister company anyway. However, the wireless market has seen Spanish Spanish, river, c.150 mi (240 km) long, issuing from Spanish Lake, S Ont., Canada, NW of Sudbury, and flowing generally S through Biskotasi and Agnew lakes to Lake Huron opposite Manitoulin island. There are several hydroelectric stations on the river. giant Telefonica toss its sombrero som·bre·ro n. pl. som·bre·ros A large straw or felt hat with a broad brim and tall crown, worn especially in Mexico and the American Southwest. into the ring as it acquired Mexico's third-largest wireless operator Pegaso last year to merge with its own operations, becoming America Movil's closest competitor. Despite its gains, Telefonica has only about one-fifth the number of subscribers that America Movil's Telcel unit enjoys. Among other players, the domestic wireless market's previous No. 2, Iusacell, has had a terrible year, with debt and losses piling up. The future is bleak for this one (the company was our joint biggest loser in our Top 100) and its only escape route may be into the arms of Telefonica. A local telecom analyst told BUSINESS MEXICO, "The owners of this appear to have given up with it and are not likely to put any more money into it. They look as if they will either sell the company or forget about it." Meanwhile, minor player Unefon (No. 62) continues to mark out its low-end user territory and notched up its millionth customer during the year, though it has gambled on a make-or-break legal suit against equipment supplier Nortel, which is something to look forward to in the second half of 2003. At holding level, we saw the interests in America Movil spun off from Carso Telecom, creating a new entity--America Telecom, which holds 60% of the voting rights Voting rights The right to vote on matters that are put to a vote of security holders. For example the right to vote for directors. voting rights The type of voting and the amount of control held by the owners of a class of stock. in America Movil and debuts in our chart at No. 10. MEDIA AND ENTERTAINMENT A year of low consumption was never going to be a strong one for the TV companies, which make most of their revenues from advertising sales. This year also saw the soccer World Cup. Usually an advertising bonanza Bonanza saga of the Cartwright family. [TV: Terrace, I, 111–112] See : Wild West , the world's celebration of its favorite sport did not bring the expected windfall windfall An unexpected profit or gain. An investor holding a stock that increases greatly in price because of an unexpected takeover offer receives a windfall. to the nation's broadcasters. Since it took place in Japan, most of the action occurred in the middle of the Mexican night, so sales were at off-peak hours and the games drew far lower audiences. Televisa, the biggest player at No. 13 overall, cut costs and cruised to a flat year. TV Azteca TV Azteca is the second largest Mexican television network. It was established in 1968 as the state-owned Instituto Mexicano de la Televisión ("Imevisión"), and was privatized under its current name in 1993. Its flagship program is the newscast Hechos. (No. 36) continued to show market share gains and focus on expanding into the lucrative U.S. Hispanic Hispanic Multiculture A person of Mexican, Puerto Rican, Cuban, Central or South American, or other Spanish culture or origin, regardless of race Social medicine Any of 17 major Latino subcultures, concentrated in California, Texas, Chicago, Miam, NY, and elsewhere market, adding affiliates through the year. It also spent the year settling a number of legal disputes to varying degrees of success. One bright point for the two was the successful launch of reality TV, which helped boost ratings and generate additional revenue. During the year, we also saw Televisa move into the staging of live events, threatening Corporacion Interamericana de Entretenimiento (No. 39) as market leader in this field. A clear sign of the slow year in the sector was the unspectacular IPO (Initial Public Offering) The first time a company offers shares of stock to the public. While not a computer term per se, many founders, employees and insiders of computer companies have found this acronym more exciting than any tech term they ever heard. of Cablevisi6n (spun off from America Movil and ranking 74 on our chart), which was delayed several times. FOOD AND BEVERAGES F&B is a common abbreviation in the United States and Commonwealth countries, including Hong Kong. F&B is typically the widely accepted abbreviation for "Food and Beverage," which is the sector/industry that specializes in the conceptualization, the making of, and delivery of foods. It was a year of moderate growth for the big breweries See for an up to date listing of all the breweries detailed on Wikipedia, sorted into regions. Africa
Asia
having some relationship with the country Argentina. Argentine tick margaropuswinthemi. Argentine tortoise geochelonechilensis. operations. The depreciation of the peso helped Modelo trounce rival Femsa on the year, since Modelo receives 27% of its export revenue from the United States, while Femsa's U.S. export revenue is below 10%. "We have seen the competition heating up between these two companies," a beverage analyst for a leading bank told BUSINESS MEXICO. "The two companies are taking their fight to every mom-and-pop store in the land. Exclusivity is what they are after." This heated struggle between the two competitors has turned nasty at times. First there were allegations of monopolistic retail practices, then a switchover switch·o·ver n. A complete shift, as from one system to another. of cinema contracts. But on an even bigger scale, we saw Pepsi Bottling Co. step in to take control of Pepsi-Gemex, only for Coca-Cola Femsa to go one better and buy out Panamco at the beginning of 2003, thereby creating the region's largest Coca-Cola distributor. In other action, Jugos del Valle (No. 64) spent the whole year as a takeover target Takeover target A company that is the object of a takeover attempt, friendly or hostile. takeover target See target company. , managing to agree on everything with potential suitors besides the final price. Meanwhile, bread maker Bimbo (No. 12) did manage to close some serious deals, particularly adding an important U.S. bakery, George Weston George Weston (March 23, 1864 - April 6, 1924) was an American-born businessman in Canada and a municipal politician in the city of Toronto, Ontario. Born in Oswego, New York, he was a small boy when his family moved to Canada, settling in the city of Toronto. . Tortilla maker Gruma (No. 27) eyed the opening of the Chinese market and set up operations there with the building of a new plant. MANUFACTURING This has been a tough one, due to the drop in of U.S. demand. The sector hardest hit has been the auto industry, which was forced to close plants and slow production. Apart from the global giants operating here, local makers of auto parts Auto parts are components of automobiles. They mainly are, in alphabetic order (only car specific articles or articles with car section):
tr. & intr.v. weak·ened, weak·en·ing, weak·ens To make or become weak or weaker. weak en·er n. peso playing into the hands
of the exporters. Another suffering sector is the clothing industry,
evidenced by the bankruptcy bankruptcy, in law, settlement of the liabilities of a person or organization wholly or partially unable to meet financial obligations. The purposes are to distribute, through a court-appointed receiver, the bankrupt's assets equitably among creditors and, in most protection of no-longer-ranked Grupo Covarra
early in the year. Cheap and often illicit Not permitted or allowed; prohibited; unlawful; as an illicit trade; illicit intercourse. ILLICIT. What is unlawful what is forbidden by the law. Vide Unlawful. 2. imports from Asia have taken their toll on this sector and l ook likely to continue doing so. MINING AND METALS Former giants such as Ahmsa and Autlan continued to exist only under bankruptcy protection. However, with war looming and troubles in South America South America, fourth largest continent (1991 est. pop. 299,150,000), c.6,880,000 sq mi (17,819,000 sq km), the southern of the two continents of the Western Hemisphere. , the two biggest players (Grupo Mexico and Penoles) started to look to a brighter future. Grupo Mexico (No. 15) spent 2002 shoring up Noun 1. shoring up - the act of propping up with shores propping up, shoring supporting, support - the act of bearing the weight of or strengthening; "he leaned against the wall for support" its finances (through asset juggling and rolling over debt), while Penoles (No. 35) has just watched the price of precious metals Precious Metals Valuable metals such as gold, iridium, palladium, platinum, and silver. Notes: Investing in precious metals can be done either by purchasing the physical asset, or by purchasing futures contracts for the particular metal. shoot to new highs. Steel makers benefited by the U.S. government's slapping slapping, n massage technique that uses the flat palms of the hands percussively; a form of tapotement. See also tapotement. of import tariffs An import tariff or import duty is a schedule of duties imposed by a country on imported goods. It is paid at a border or port of entry to the relevant government to allow a good to pass into that government's territory. on foreign steel, from which Mexican companies were exempt. On the corporate side, Tamsa was absorbed by its Luxembourg-based owner Tenaris via a share buyback Buyback The buying back of outstanding shares (repurchase) by a company in order to reduce the number of shares on the market. Companies will buyback shares either to increase the value of shares still available (reducing supply), or to eliminate any threats by shareholders who may . Hylsamex, which missed a debt payment early on, has spent the year restructuring restructuring - The transformation from one representation form to another at the same relative abstraction level, while preserving the subject system's external behaviour (functionality and semantics). and appears to be getting its head closer to the surface. FINANCIAL SERVICES The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. AND BANKING It was a fairly busy year for acquisitions in the banking sector. First, the government generated much-needed revenue by selling the stakes it was holding in a number of leading banks. The government's pension company, Aseguradora Hidalgo Hidalgo, state, Mexico Hidalgo (ēthäl`gō), state (1990 pop. 1,888,366), 8,058 sq mi (20,870 sq km), central Mexico. Pachuca de Soto is the capital. , was sold to Metlife, which beat Out three other bidders. We also saw Spanish giant BBVA BBVA Banco Bilbao Vizcaya Argentaria (First Bank of Spain) up its stake in BBVA-Bancomer to 54% as it purchased some of the government's long-held stake in the group. As if that wasn't enough, British Group HSBC HSBC Hongkong and Shanghai Banking Corporation HSBC Humane Society of Broward County (Florida) HSBC Humane Society of Bay County (Bay County, Michigan) beat out other bidders and snapped up Bital Bank, while Scotiabank continues to eye its remaining 36% Inverlat stake still held by the government's bailout agency, IPAB IPAB Instituto para la Proteccion al Ahorro Bancario (Mexico) IPAB International Program for Antarctic Buoys . The only Mexican-held bank left in the fray fray 1 n. 1. A scuffle; a brawl. See Synonyms at brawl. 2. A heated dispute or contest. tr.v. frayed, fray·ing, frays Archaic 1. To alarm; frighten. 2. is Banorte (which assumed control of beleaguered be·lea·guer tr.v. be·lea·guered, be·lea·guer·ing, be·lea·guers 1. To harass; beset: We are beleaguered by problems. 2. To surround with troops; besiege. Bancrecer during the year). Speculation abounds that this last bastion will fall to foreign interests sometime this year. The year also saw a new player slip quietly into the market--Banco Azteca, subsidiary of retailer Elektra which aims at lower income groups and provides services at Elektra stores. The other trend during the year was a move into money transfer operations, as the big banks looked to take advantage of the massive cash cow. In 2002 remittances
Remittances are transfers of money by foreign workers to their home countries. totaled almost US$10 billion, making it the nation's second-largest source of foreign currency, after oil exports. The other shift was a move toward offering more credit for auto purchases and lower interest rate credit cards, as benchmark rates dropped and became more stable. Meanwhile, changes to the pension laws have meant that workers now have more options when choosing their pension provider. This has led to a number of U.S. players looking for a slice of that action. CONSTRUCTION This started as a muted year for the sector. Much-heralded public works public works pl.n. Construction projects, such as highways or dams, financed by public funds and constructed by a government for the benefit or use of the general public. Noun 1. projects (the new airport, huge housing programs, the second level on Mexico City's Periferico traffic artery artery, blood vessel that conveys blood away from the heart. Except for the pulmonary artery, which carries deoxygenated blood from the heart to the lungs, arteries carry oxygenated blood from the heart to the tissues. ) either got bogged down or failed to materialize ma·te·ri·al·ize v. ma·te·ri·al·ized, ma·te·ri·al·iz·ing, ma·te·ri·al·iz·es v.tr. 1. To cause to become real or actual: By building the house, we materialized a dream. . However, as the year went on, it became quite evident that plenty of construction was going on, and this was one of the few sectors registering gains when industrial production figures were released. As a result, both Geo and Ara emerged from 2002 looking bright, while Empresas ICA Ica (ē`kä), city (1993 pop. 108,724), capital of Ica dept., SW Peru, on the Pan-American Highway. It is a commercial center for the cotton, wool, and wine produced in the region. There are several summer resorts nearby. , which looked to be in trouble, has turned it around with new, lucrative contracts. In the cement cement, binding material used in construction and engineering, often called hydraulic cement, typically made by heating a mixture of limestone and clay until it almost fuses and then grinding it to a fine powder. sector, Cemex has suffered because of the global situation and has stuttered as a result, although it managed to gobble up to capture in a mass or in masses; to capture suddenly. See also: Gobble a couple of smaller regional companies during the year. However, the giant--which stands tall at No. 4 in our Top 100--was thwarted thwart tr.v. thwart·ed, thwart·ing, thwarts 1. To prevent the occurrence, realization, or attainment of: They thwarted her plans. 2. in efforts to acquire Indonesia's Semen semen or seminal fluid Whitish viscous fluid emitted from the male reproductive tract that contains sperm and liquids (seminal plasma) that help keep them viable. Gresik because of mass strikes at the company. The locally focused cement companies (No. 30 Apasco, No. 54 Corporacion Moctezuma) have fared better thanks to the mini-boom in construction. LOOKING AHEAD The one major obstacle, the Iraq war Iraq War: see under Persian Gulf Wars. Iraq War or Second Persian Gulf War Brief conflict in 2003 between Iraq and a combined force of troops largely from the U.S. and Great Britain; and a subsequent U.S. , came and went, and attention could once again be switched to the economy. First quarter results have, on the whole, been favorable. Still, following the long sell-off Sell-Off The rapid selling of securities, such as stocks, bonds and commodities. The increase in supply leads to a decline in the value of the security. Notes: A sell-off may occur for many reasons. of the second half of 2002, there is plenty of room for improvement. On the macro market, we have seen the government step into exchange rate intervention A procedure used in a lawsuit by which the court allows a third person who was not originally a party to the suit to become a party, by joining with either the plaintiff or the defendant. , a move that has helped steady the peso and has been welcomed by corporate accountants as it makes calculations and projections far easier. Politically, we have the upcoming midterm mid·term n. 1. The middle of an academic term or a political term of office. 2. a. An examination given at the middle of a school or college term. b. midterms A series of such examinations. elections that, according to recent opinion polls, look unlikely to change significantly the makeup makeup In the performing arts, material used by actors for cosmetic purposes and to help create the characters they play. Not needed in Greek and Roman theatre because of the use of masks, makeup was used in the religious plays of medieval Europe, in which the angels' faces of Congress. Therefore, with fingers crossed, we can look for some of those companies unfortunate enough to have slipped off our list to make a comeback Comeback Australian breed of wool sheep, bred by crossing Merino with Corriedale, Polwarth or Zenith sheep; wool is 21 to 25 microns. It is a registered breed, but the term is more commonly used in the sense of a type of sheep produced by crossbreeding a crossbred Merino back to Merino. by next year. Those at the top end are likely to get even stronger as they find themselves in an advantageous position, not only locally, but regionally. They are poised to gobble up market share and opposition amid an across-the-board recovery that appears to be already under way.
RANKING COMPANY NAME SYMBOL TOTAL ASSETS
1 TELEFONOS DE MEXICO, S.A. DE C.V. TELEMEX 168,792
2 CARSO GLOBAL TELECOM, S.A. DE C.V. TELECOM 173,448
3 GRUPO FINANCIERO BBVA BANCOMER, S.A. DE GFBB 428,001
C.V.
4 CEMEX, S.A. DE C.V. CEMEX 165,400
5 WAL-MART DE MEXICO, S.A. DE C.V. WALMEX 59,717
6 FOMENTO ECONOMICO MEXICANO, S.A. DE C.V. FEMSA 60,004
7 AMERICA MOVIL, S.A. DE C.V. AMX 13,115
8 GRUPO CARSO, S.A. DE C.V. GCARSO 62,871
9 AMERICA TELECOM, S.A. DE C.V. AMTEL 113,322
10 GRUPO MODELO, S.A. DE C.V. GMODELO 58,130
11 ALFA, S.A. DE C.V. ALFA 72,201
12 GRUPO BIMBO, S.A. DE C.V. BIMBO 31,719
13 GRUPO TELEVISA, S.A. TLEVISA 55,303
14 GRUPO FINANCIERO BANORTE, S.A. DE C.V. GFNORTE 199,521
15 GRUPO MEXICO, S.A. DE C.V. GMEXICO 86,460
16 ORGANIZACION SORIANA, S.A. DE C.V. SORIANA 22,615
17 GRUPO MSA, S.A. DE C.V. IMSA 31,259
18 EL PUERTO DE LIVERPOOL, S.A. DE C.V. LIVEPOL 22,423
19 KIMBERLY - CLARK DE MEXICO S.A. DE C.V. KIMBER 22,874
20 CONTROLADORA COMERCIAL MEXICANA, COMERC 22,310
S.A. DE C.V.
21 COCA-COLA FEMSA, S.A. DE C.V. KOF 16,173
22 DESC, S.A. DE C.V. DESC 29,899
23 GRUPO SANBORNS, S.A. DE C.V. GSANBOR 21,167
24 GRUPO GIGANTE, S.A. DE C.V. GIGANTE 22,314
25 VITRO, S.A. DE C.V. VITRO 30,016
26 GRUPO FINANCIERO INBURSA, S.A. DE C.V. GFINBUR 64,181
27 GRUMA, S.A. DE C.V. GRUMA 22,192
28 EMBOTELLADORAS ARCA, S.A. DE C.V. ARCA 13,141
29 GRUPO ELEKTRA, S.A. DE C.V. ELEKTRA 15,153
30 APASCO, S.A. DE C.V. APASCO 17,436
31 GRUPO CONTINENTAL, S.A. CONTAL 8,733
32 GRUPO TMM, S.A. TMM 28,870
33 INDUSTRIAS BACHOCO, S.A. DE C.V. BACHOCO 11,591
34 HYLSAMEX, S.A. DE C.V. HYLSAMX 28,535
35 INDUSTRIAS PENOLES, S.A. DE C.V. PE&OLES 18,505
36 TV AZTECA, S.A. DE C.V. TVAZTCA 21,659
37 US COMMERCIAL CORP, S.A. DE C.V. USCOM 15,978
38 GRUPO INDUSTRIAL SALTILLO, GISSA 9,564
S.A. DE C.V.
39 CORPORACION INTERAMERICANA DE CIE 13,404
ENTRETENIMIENTO, S.A. DE C.V.
40 GRUPO PALACIO DE HIERRO, S.A. DE C.V. GPH 10,063
41 SAVIA S.A. DE C.V. SAVIA 14,131
42 CINTRA, S.A. DE C.V. CINTRA 1,905
43 GRUPO CASA SABA, S.A. DE C.V. SAB 7,590
44 EMPRESAS ICA SOCIEDAD CONTROLADORA, ICA 14,162
S.A. DE C.V.
45 CONSORCIO ARA, S.A. DE C.V. ARA 5,775
46 NADRO, S.A. DE C.V. NADRO 6,732
47 CORPORACION GEO, S.A. DE C.V. GEO 6,436
48 GRUPO POSADAS, S.A. DE C.V. POSADAS 9,344
49 GRUPO INDUSTRIAL MASECA, S.A. DE C.V. MASECA 7,024
50 EMBOTELLADORA ARGOS ARGOS 4,819
51 GRUPO CEMENTOS DE CHIHUAHUA,
S.A. DE C V GCC 8,884
52 GRUPO HERDEZ, S.A. DE C.V. HERDEZ 4,372
53 SANLUIS CORPORACION, S.A. DE
C.V. SANLUIS 7,047
54 CORPORACION MOCTEZUMA, S.A.
DE C.V. CMOCTEZ 5,633
55 GRUPO AEROPORTUARIO DEL
SURESTE, S.A. DE C.V. ASUR 11,283
56 GRUPO EMBOTELLADORAS UNIDAS,
SA DE CV GEUPEC 2,507
57 GRUPO CORVI, S.A. DE C.V. GCORVI 4,082
58 CYDSA, S.A. DE C.V. CYDSASA 9,762
59 GRUPO IUSACELL, S.A. DE C.V. CEL 15,123
60 GRUPO LAMOSA, S.A. DE C.V. LAMOSA 3,863
61 CORPORATIVO FRAGUA, S.A.
DE C.V. FRAGUA 2,671
62 UNEFON, S.A. DE C.V. UNEFON 9,030
63 GRUPO INDUSTRIAL CAMESA,
S.A. DE C.V. CAMESA 4,033
64 JUGOS DEL VALLE, S.A.
DE C.V. VALLE 3,575
65 INTERNACIONAL DE CERAMICA,
S.A. DE C.V. CERAMIC 3,062
66 COMPANIA INDUSTRIAL DE
PARRAS PARRAS 4,088
67 ALSEA S.A. DE C.V. ALSEA 1,583
68 GRUPO BAFAR, S.A. DE C.V. BAFAR 1,905
69 GRUPO LA MODERNA,
S.A. DE C.V. GMODERN 3,394
70 FAR-BEN, S.A. DE C.V. BEVIDES 2,193
71 GRUPO MARTI, S.A. GMARTI 1,592
72 ACCEL, S.A. DE C.V. ACCEL 2,482
73 G.ACCION, S.A. DE C.V. GACCION 4,492
74 EMPRESAS CABLEVISION,
S.A. DE C.V. CABLE 2,024
75 GRUPO MINSA, S.A. DE C.V. MINSA 2,514
76 G COLLADO, S.A. DE C.V. COLLADO 2,097
77 MEDICA SUR, S.A. DE C.V. MEDICA 1,076
78 GRUPO RADIO CENTRO,
S.A. DE C.V. RCENTRO 1,695
79 MEXICHEM S.A. DE C.V. MEXCHEM 2,179
80 GRUPO AZUCARERO MEXICO GAM 2,984
81 CORPORACION MEXICANA
DE RESTAURANTES,
S.A. DE C.V. CMR 1,267
82 GRUPE, S.A. DE C.V. CIDMEGA 2,962
83 EMPAQUES PONDEROSA,
S.A. DE C.V. EMPAQ 1,941
84 CONSORCIO HOGAR, S.A. DE C.V. HOGAR 1,052
85 GRUPO DATAFLUX, S.A. DE C.V. DATAFLX 821
86 DERMET DE MEXICO, S.A. DE C.V. DERMET 1,234
87 GRUPO COMERCIAL GOMO,
S.A. DE C.V. GOMO 1,098
88 HILASAL MEXICANA S.A. DE C.V. HILASAL 652
89 EDOARDOS MARTIN, S.A. DE C.V. EDOARDO 639
90 MAIZORO, S.A. DE C.V. MAIZORO 492
91 BIPER, S.A. DE C.V. MOVILA 547
92 GRUPO DIXON, S.A. DE C.V. DIXON 316
93 ECE, S.A. DE C.V. ECE 602
94 INDUSTRIA AUTOMOTRIZ,
S.A. DE C.V. IASASA 1,002
95 CONVERTIDORA INDUSTRIAL,
S.A. DE C.V. CONVER 607
96 EKCO, S.A. EKCO 398
97 SYNKRO S.A. DE C.V. SYNKRO 422
98 AGRO INDUSTRIAL EXPORTADORA,
S.A. DE C.V. AGRIEXP 227
99 GRUPO MAOMA, S.A. DE C.V. GMACMA 336
100 GRUPO NUTRISA, S.A. DE C.V. NUTRISA 135
RANKING COMPANY NAME S.EQUITY NET SALES
1 TELEFONOS DE MEXICO, S.A. DE C.V. 61,164 112,860
2 CARSO GLOBAL TELECOM, S.A. DE C.V. 50,944 112,860
3 GRUPO FINANCIERO BBVA BANCOMER, S.A. DE 57,335 64,972
C.V.
4 CEMEX, S.A. DE C.V. 72,152 67,918
5 WAL-MART DE MEXICO, S.A. DE C.V. 37,901 105,806
6 FOMENTO ECONOMICO MEXICANO, S.A. DE C.V. 32,812 52,941
7 AMERICA MOVIL, S.A. DE C.V. 49,192 57,461
8 GRUPO CARSO, S.A. DE C.V. 27,489 51,885
9 AMERICA TELECOM, S.A. DE C.V. 44,679 57,461
10 GRUPO MODELO, S.A. DE C.V. 47,063 36,243
11 ALFA, S.A. DE C.V. 26,416 51,356
12 GRUPO BIMBO, S.A. DE C.V. 13,751 41,373
13 GRUPO TELEVISA, S.A. 21,478 21,559
14 GRUPO FINANCIERO BANORTE, S.A. DE C.V. 11,990 29,689
15 GRUPO MEXICO, S.A. DE C.V. 29,502 24,804
16 ORGANIZACION SORIANA, S.A. DE C.V. 13,332 32,123
17 GRUPO MSA, S.A. DE C.V. 13,872 27,287
18 EL PUERTO DE LIVERPOOL, S.A. DE C.V. 12,112 20,761
19 KIMBERLY - CLARK DE MEXICO S.A. DE C.V. 11,748 16,096
20 CONTROLADORA COMERCIAL MEXICANA, 11,689 32,053
S.A. DE C.V.
21 COCA-COLA FEMSA, S.A. DE C.V. 9,124 17,620
22 DESC, S.A. DE C.V. 11,461 19,662
23 GRUPO SANBORNS, S.A. DE C.V. 7,646 17,838
24 GRUPO GIGANTE, S.A. DE C.V. 11,973 30,877
25 VITRO, S.A. DE C.V. 8,598 23,922
26 GRUPO FINANCIERO INBURSA, S.A. DE C.V. 28,765 8,656
27 GRUMA, S.A. DE C.V. 12,162 19,174
28 EMBOTELLADORAS ARCA, S.A. DE C.V. 8,501 13,192
29 GRUPO ELEKTRA, S.A. DE C.V. 5,324 16,578
30 APASCO, S.A. DE C.V. 11,437 9,664
31 GRUPO CONTINENTAL, S.A. 6,893 9,761
32 GRUPO TMM, S.A. 9,423 10,545
33 INDUSTRIAS BACHOCO, S.A. DE C.V. 9,268 10,957
34 HYLSAMEX, S.A. DE C.V. 10,751 13,481
35 INDUSTRIAS PENOLES, S.A. DE C.V. 9,202 11,339
36 TV AZTECA, S.A. DE C.V. 6,592 6,690
37 US COMMERCIAL CORP, S.A. DE C.V. 6,351 39,799
38 GRUPO INDUSTRIAL SALTILLO, 5,088 7,025
S.A. DE C.V.
39 CORPORACION INTERAMERICANA DE 7,497 5,990
ENTRETENIMIENTO, S.A. DE C.V.
40 GRUPO PALACIO DE HIERRO, S.A. DE C.V. 5,208 6,342
41 SAVIA S.A. DE C.V. 8,327 6,605
42 CINTRA, S.A. DE C.V. 805 2,050
43 GRUPO CASA SABA, S.A. DE C.V. 3,053 18,188
44 EMPRESAS ICA SOCIEDAD CONTROLADORA, 3,845 7,984
S.A. DE C.V.
45 CONSORCIO ARA, S.A. DE C.V. 3,779 4,187
46 NADRO, S.A. DE C.V. 2,547 17,965
47 CORPORACION GEO, S.A. DE C.V. 2,695 5,445
48 GRUPO POSADAS, S.A. DE C.V. 3,698 3,823
49 GRUPO INDUSTRIAL MASECA, S.A. DE C.V. 5,543 4,763
50 EMBOTELLADORA ARGOS 3,609 4,977
51 GRUPO CEMENTOS DE CHIHUAHUA, 4,459 3,456
S.A. DE C V
52 GRUPO HERDEZ, S.A. DE C.V. 2,072 4,567
53 SANLUIS CORPORACION, S.A. DE 2,396 4,365
C.V.
54 CORPORACION MOCTEZUMA, S.A. 4,517 2,751
DE C.V.
55 GRUPO AEROPORTUARIO DEL 10,771 1,241
SURESTE, S.A. DE C.V.
56 GRUPO EMBOTELLADORAS UNIDAS, 1,760 3,190
SA DE CV
57 GRUPO CORVI, S.A. DE C.V. 1,021 13,688
58 CYDSA, S.A. DE C.V. 3,312 6,019
59 GRUPO IUSACELL, S.A. DE C.V. 5,365 5,353
60 GRUPO LAMOSA, S.A. DE C.V. 1,489 2,790
61 CORPORATIVO FRAGUA, S.A. 1,091 5,901
DE C.V.
62 UNEFON, S.A. DE C.V. 2,464 3,039
63 GRUPO INDUSTRIAL CAMESA, 2,532 2,829
S.A. DE C.V.
64 JUGOS DEL VALLE, S.A. 1,483 3,959
DE C.V.
65 INTERNACIONAL DE CERAMICA, 1,089 3,059
S.A. DE C.V.
66 COMPANIA INDUSTRIAL DE 1,203 2,376
PARRAS
67 ALSEA S.A. DE C.V. 1,061 2,580
68 GRUPO BAFAR, S.A. DE C.V. 805 2,050
69 GRUPO LA MODERNA, 2,514 282
S.A. DE C.V.
70 FAR-BEN, S.A. DE C.V. 923 4,536
71 GRUPO MARTI, S.A. 1,084 1,508
72 ACCEL, S.A. DE C.V. 1,515 2,037
73 G.ACCION, S.A. DE C.V. 1,224 695
74 EMPRESAS CABLEVISION, 1,426 1,108
S.A. DE C.V.
75 GRUPO MINSA, S.A. DE C.V. 1,344 1,961
76 G COLLADO, S.A. DE C.V. 663 2,392
77 MEDICA SUR, S.A. DE C.V. 669 788
78 GRUPO RADIO CENTRO, 1,155 710
S.A. DE C.V.
79 MEXICHEM S.A. DE C.V. 1,445 1,83
80 GRUPO AZUCARERO MEXICO 1,470 357
81 CORPORACION MEXICANA 851 997
DE RESTAURANTES,
S.A. DE C.V.
82 GRUPE, S.A. DE C.V. 1,813 499
83 EMPAQUES PONDEROSA, 1,220 na
S.A. DE C.V.
84 CONSORCIO HOGAR, S.A. DE C.V. 403 1,021
85 GRUPO DATAFLUX, S.A. DE C.V. 589 621
86 DERMET DE MEXICO, S.A. DE C.V. 396 1,714
87 GRUPO COMERCIAL GOMO, 557 1,261
S.A. DE C.V.
88 HILASAL MEXICANA S.A. DE C.V. 289 414
89 EDOARDOS MARTIN, S.A. DE C.V. 429 582
90 MAIZORO, S.A. DE C.V. 243 591
91 BIPER, S.A. DE C.V. 247 270
92 GRUPO DIXON, S.A. DE C.V. 224 329
93 ECE, S.A. DE C.V. 149 361
94 INDUSTRIA AUTOMOTRIZ, 427 300
S.A. DE C.V.
95 CONVERTIDORA INDUSTRIAL, 310 317
S.A. DE C.V.
96 EKCO, S.A. 269 328
97 SYNKRO S.A. DE C.V. 154 231
98 AGRO INDUSTRIAL EXPORTADORA, 119 117
S.A. DE C.V.
99 GRUPO MAOMA, S.A. DE C.V. 185 181
100 GRUPO NUTRISA, S.A. DE C.V. 96 288
RANKING COMPANY NAME OPERATING PROFIT
1 TELEFONOS DE MEXICO, S.A. DE C.V. 39,617
2 CARSO GLOBAL TELECOM, S.A. DE C.V. 39,804
3 GRUPO FINANCIERO BBVA BANCOMER, S.A. DE 11,530
C.V.
4 CEMEX, S.A. DE C.V. 13,602
5 WAL-MART DE MEXICO, S.A. DE C.V. 6,316
6 FOMENTO ECONOMICO MEXICANO, S.A. DE C.V. 9,491
7 AMERICA MOVIL, S.A. DE C.V. 12,485
8 GRUPO CARSO, S.A. DE C.V. 6,996
9 AMERICA TELECOM, S.A. DE C.V. 12,635
10 GRUPO MODELO, S.A. DE C.V. 9,425
11 ALFA, S.A. DE C.V. 5,236
12 GRUPO BIMBO, S.A. DE C.V. 2,997
13 GRUPO TELEVISA, S.A. 4,650
14 GRUPO FINANCIERO BANORTE, S.A. DE C.V. 1,904
15 GRUPO MEXICO, S.A. DE C.V. 1,419
16 ORGANIZACION SORIANA, S.A. DE C.V. 1,838
17 GRUPO MSA, S.A. DE C.V. 2,840
18 EL PUERTO DE LIVERPOOL, S.A. DE C.V. 2,486
19 KIMBERLY - CLARK DE MEXICO S.A. DE C.V. 4,703
20 CONTROLADORA COMERCIAL MEXICANA, 920
S.A. DE C.V.
21 COCA-COLA FEMSA, S.A. DE C.V. 440
22 DESC, S.A. DE C.V. 1,037
23 GRUPO SANBORNS, S.A. DE C.V. 2,834
24 GRUPO GIGANTE, S.A. DE C.V. 677
25 VITRO, S.A. DE C.V. 1,989
26 GRUPO FINANCIERO INBURSA, S.A. DE C.V. 1,753
27 GRUMA, S.A. DE C.V. 1,492
28 EMBOTELLADORAS ARCA, S.A. DE C.V. 2,321
29 GRUPO ELEKTRA, S.A. DE C.V. 2,260
30 APASCO, S.A. DE C.V. 3,094
31 GRUPO CONTINENTAL, S.A. 19,111
32 GRUPO TMM, S.A. 1,924
33 INDUSTRIAS BACHOCO, S.A. DE C.V. 1,272
34 HYLSAMEX, S.A. DE C.V. 728
35 INDUSTRIAS PENOLES, S.A. DE C.V. 474
36 TV AZTECA, S.A. DE C.V. 2,820
37 US COMMERCIAL CORP, S.A. DE C.V. 379
38 GRUPO INDUSTRIAL SALTILLO, 884
S.A. DE C.V.
39 CORPORACION INTERAMERICANA DE 974
ENTRETENIMIENTO, S.A. DE C.V.
40 GRUPO PALACIO DE HIERRO, S.A. DE C.V. 646
41 SAVIA S.A. DE C.V. 431
42 CINTRA, S.A. DE C.V. 195
43 GRUPO CASA SABA, S.A. DE C.V. 717
44 EMPRESAS ICA SOCIEDAD CONTROLADORA, 149
S.A. DE C.V.
45 CONSORCIO ARA, S.A. DE C.V. 870
46 NADRO, S.A. DE C.V. 534
47 CORPORACION GEO, S.A. DE C.V. 842
48 GRUPO POSADAS, S.A. DE C.V. 570
49 GRUPO INDUSTRIAL MASECA, S.A. DE C.V. 507
50 EMBOTELLADORA ARGOS 943
51 GRUPO CEMENTOS DE CHIHUAHUA, 888
S.A. DE C V
52 GRUPO HERDEZ, S.A. DE C.V. 492
53 SANLUIS CORPORACION, S.A. DE 380
C.V.
54 CORPORACION MOCTEZUMA, S.A. 1,198
DE C.V.
55 GRUPO AEROPORTUARIO DEL 355
SURESTE, S.A. DE C.V.
56 GRUPO EMBOTELLADORAS UNIDAS, 404
SA DE CV
57 GRUPO CORVI, S.A. DE C.V. 54
58 CYDSA, S.A. DE C.V. -289
59 GRUPO IUSACELL, S.A. DE C.V. -510
60 GRUPO LAMOSA, S.A. DE C.V. 441
61 CORPORATIVO FRAGUA, S.A. 204
DE C.V.
62 UNEFON, S.A. DE C.V. -73
63 GRUPO INDUSTRIAL CAMESA, 106
S.A. DE C.V.
64 JUGOS DEL VALLE, S.A. 53
DE C.V.
65 INTERNACIONAL DE CERAMICA, 290
S.A. DE C.V.
66 COMPANIA INDUSTRIAL DE 210
PARRAS
67 ALSEA S.A. DE C.V. 236
68 GRUPO BAFAR, S.A. DE C.V. 195
69 GRUPO LA MODERNA, 39
S.A. DE C.V.
70 FAR-BEN, S.A. DE C.V. -115
71 GRUPO MARTI, S.A. 186
72 ACCEL, S.A. DE C.V. 6
73 G.ACCION, S.A. DE C.V. 300
74 EMPRESAS CABLEVISION, 223
S.A. DE C.V.
75 GRUPO MINSA, S.A. DE C.V. -1
76 G COLLADO, S.A. DE C.V. 138
77 MEDICA SUR, S.A. DE C.V. 209
78 GRUPO RADIO CENTRO, 96
S.A. DE C.V.
79 MEXICHEM S.A. DE C.V. -34
80 GRUPO AZUCARERO MEXICO -32
81 CORPORACION MEXICANA -39
DE RESTAURANTES,
S.A. DE C.V.
82 GRUPE, S.A. DE C.V. 72
83 EMPAQUES PONDEROSA, na
S.A. DE C.V.
84 CONSORCIO HOGAR, S.A. DE C.V. 137
85 GRUPO DATAFLUX, S.A. DE C.V. 21
86 DERMET DE MEXICO, S.A. DE C.V. 31
87 GRUPO COMERCIAL GOMO, 43
S.A. DE C.V.
88 HILASAL MEXICANA S.A. DE C.V. 61
89 EDOARDOS MARTIN, S.A. DE C.V. -43
90 MAIZORO, S.A. DE C.V. 16
91 BIPER, S.A. DE C.V. -91
92 GRUPO DIXON, S.A. DE C.V. 21
93 ECE, S.A. DE C.V. -53
94 INDUSTRIA AUTOMOTRIZ, 5
S.A. DE C.V.
95 CONVERTIDORA INDUSTRIAL, 41
S.A. DE C.V.
96 EKCO, S.A. 31
97 SYNKRO S.A. DE C.V. -34
98 AGRO INDUSTRIAL EXPORTADORA, -21
S.A. DE C.V.
99 GRUPO MAOMA, S.A. DE C.V. 1
100 GRUPO NUTRISA, S.A. DE C.V. -5
RANKING COMPANY NAME EMPLOYEES MKT CAP.
1 TELEFONOS DE MEXICO, S.A. DE C.V. 38,104 206,667
2 CARSO GLOBAL TELECOM, S.A. DE C.V. 71,565 43,342
3 GRUPO FINANCIERO BBVA BANCOMER, S.A. DE 25,704 77,738
C.V.
4 CEMEX, S.A. DE C.V. 24,000 60,299
5 WAL-MART DE MEXICO, S.A. DE C.V. 74,790 118,732
6 FOMENTO ECONOMICO MEXICANO, S.A. DE C.V. 42,594 37,787
7 AMERICA MOVIL, S.A. DE C.V. 13,450 97,385
8 GRUPO CARSO, S.A. DE C.V. 65,135 23,396
9 AMERICA TELECOM, S.A. DE C.V. 13,450 24,994
10 GRUPO MODELO, S.A. DE C.V. 46,890 73,392
11 ALFA, S.A. DE C.V. 35,352 9,208
12 GRUPO BIMBO, S.A. DE C.V. 64,419 18,119
13 GRUPO TELEVISA, S.A. 13,700 97,919
14 GRUPO FINANCIERO BANORTE, S.A. DE C.V. 14,868 13,248
15 GRUPO MEXICO, S.A. DE C.V. 21,291 8,406
16 ORGANIZACION SORIANA, S.A. DE C.V. 34,400 10,201
17 GRUPO MSA, S.A. DE C.V. 14,504 7,216
18 EL PUERTO DE LIVERPOOL, S.A. DE C.V. 16,290 14,093
19 KIMBERLY - CLARK DE MEXICO S.A. DE C.V. 7,664 29,031
20 CONTROLADORA COMERCIAL MEXICANA, 35,332 5,959
S.A. DE C.V.
21 COCA-COLA FEMSA, S.A. DE C.V. 15,273 28,643
22 DESC, S.A. DE C.V. 24,866 5,417
23 GRUPO SANBORNS, S.A. DE C.V. 22,627 10,379
24 GRUPO GIGANTE, S.A. DE C.V. 28,803 4,692
25 VITRO, S.A. DE C.V. 32,535 2,240
26 GRUPO FINANCIERO INBURSA, S.A. DE C.V. 3,612 25,707
27 GRUMA, S.A. DE C.V. 14,750 4,140
28 EMBOTELLADORAS ARCA, S.A. DE C.V. 18,826 13,332
29 GRUPO ELEKTRA, S.A. DE C.V. 17,189 5,234
30 APASCO, S.A. DE C.V. 2,631 15,711
31 GRUPO CONTINENTAL, S.A. 3,798 12,067
32 GRUPO TMM, S.A. 6,099 1,994
33 INDUSTRIAS BACHOCO, S.A. DE C.V. 11,049 4,380
34 HYLSAMEX, S.A. DE C.V. 7,715 2,552
35 INDUSTRIAS PENOLES, S.A. DE C.V. 8,770 7,143
36 TV AZTECA, S.A. DE C.V. 2,275 9,581
37 US COMMERCIAL CORP, S.A. DE C.V. na 3,984
38 GRUPO INDUSTRIAL SALTILLO, 14,361 4,211
S.A. DE C.V.
39 CORPORACION INTERAMERICANA DE 4,752 5,164
ENTRETENIMIENTO, S.A. DE C.V.
40 GRUPO PALACIO DE HIERRO, S.A. DE C.V. 6,217 5,349
41 SAVIA S.A. DE C.V. 11,002 2,187
42 CINTRA, S.A. DE C.V. 3,677 1,052
43 GRUPO CASA SABA, S.A. DE C.V. 5,506 2,787
44 EMPRESAS ICA SOCIEDAD CONTROLADORA, 25,498 1,399
S.A. DE C.V.
45 CONSORCIO ARA, S.A. DE C.V. 8,467 5,612
46 NADRO, S.A. DE C.V. 3,874 3,625
47 CORPORACION GEO, S.A. DE C.V. 11,824 2,561
48 GRUPO POSADAS, S.A. DE C.V. 5,242 2,147
49 GRUPO INDUSTRIAL MASECA, S.A. DE C.V. 2,950 3,297
50 EMBOTELLADORA ARGOS 5,794 na
51 GRUPO CEMENTOS DE CHIHUAHUA, 270 2,519
S.A. DE C V
52 GRUPO HERDEZ, S.A. DE C.V. 4,982 1,606
53 SANLUIS CORPORACION, S.A. DE 6,131 847
C.V.
54 CORPORACION MOCTEZUMA, S.A. 483 6,409
DE C.V.
55 GRUPO AEROPORTUARIO DEL 800 3,600
SURESTE, S.A. DE C.V.
56 GRUPO EMBOTELLADORAS UNIDAS, 4,390 1,529
SA DE CV
57 GRUPO CORVI, S.A. DE C.V. 4,862 758
58 CYDSA, S.A. DE C.V. 10,730 156
59 GRUPO IUSACELL, S.A. DE C.V. 1,834 711
60 GRUPO LAMOSA, S.A. DE C.V. 3,051 744
61 CORPORATIVO FRAGUA, S.A. 3,496 1,516
DE C.V.
62 UNEFON, S.A. DE C.V. na 6,894
63 GRUPO INDUSTRIAL CAMESA, 2,682 1,123
S.A. DE C.V.
64 JUGOS DEL VALLE, S.A. 4,036 630
DE C.V.
65 INTERNACIONAL DE CERAMICA, 3,777 647
S.A. DE C.V.
66 COMPANIA INDUSTRIAL DE 3,188 864
PARRAS
67 ALSEA S.A. DE C.V. 4,296 837
68 GRUPO BAFAR, S.A. DE C.V. 3,677 1,052
69 GRUPO LA MODERNA, 2,739 1,765
S.A. DE C.V.
70 FAR-BEN, S.A. DE C.V. 7,965 323
71 GRUPO MARTI, S.A. 1,587 na
72 ACCEL, S.A. DE C.V. 4,433 86
73 G.ACCION, S.A. DE C.V. 96 628
74 EMPRESAS CABLEVISION, 980 na
S.A. DE C.V.
75 GRUPO MINSA, S.A. DE C.V. 1,374 397
76 G COLLADO, S.A. DE C.V. 667 295
77 MEDICA SUR, S.A. DE C.V. 813 493
78 GRUPO RADIO CENTRO, 406 513
S.A. DE C.V.
79 MEXICHEM S.A. DE C.V. 1,452 na
80 GRUPO AZUCARERO MEXICO 2,882 na
81 CORPORACION MEXICANA 4,675 165
DE RESTAURANTES,
S.A. DE C.V.
82 GRUPE, S.A. DE C.V. 970 na
83 EMPAQUES PONDEROSA, 813 384
S.A. DE C.V.
84 CONSORCIO HOGAR, S.A. DE C.V. 591 142
85 GRUPO DATAFLUX, S.A. DE C.V. 1,668 106
86 DERMET DE MEXICO, S.A. DE C.V. 505 173
87 GRUPO COMERCIAL GOMO, 313 131
S.A. DE C.V.
88 HILASAL MEXICANA S.A. DE C.V. 875 129
89 EDOARDOS MARTIN, S.A. DE C.V. 1,665 140
90 MAIZORO, S.A. DE C.V. 772 294
91 BIPER, S.A. DE C.V. 355 189
92 GRUPO DIXON, S.A. DE C.V. 566 245
93 ECE, S.A. DE C.V. 2,000 na
94 INDUSTRIA AUTOMOTRIZ, 883 12
S.A. DE C.V.
95 CONVERTIDORA INDUSTRIAL, 479 102
S.A. DE C.V.
96 EKCO, S.A. 772 25
97 SYNKRO S.A. DE C.V. 3,617 19
98 AGRO INDUSTRIAL EXPORTADORA, 1,768 20
S.A. DE C.V.
99 GRUPO MAOMA, S.A. DE C.V. 648 122
100 GRUPO NUTRISA, S.A. DE C.V. 552 86
TOTAL
RANKING COMPANY NAME POINTS CHANGE
1 TELEFONOS DE MEXICO, S.A. DE C.V. 589 UNCH
2 CARSO GLOBAL TELECOM, S.A. DE C.V. 586 UNCH
3 GRUPO FINANCIERO BBVA BANCOMER, S.A. DE 573 NEW
C.V.
4 CEMEX, S.A. DE C.V. 570 -1
5 WAL-MART DE MEXICO, S.A. DE C.V. 569 -1
6 FOMENTO ECONOMICO MEXICANO, S.A. DE C.V. 555 2
7 AMERICA MOVIL, S.A. DE C.V. 549 -2
8 GRUPO CARSO, S.A. DE C.V. 548 -2
9 AMERICA TELECOM, S.A. DE C.V. 538 NEW
10 GRUPO MODELO, S.A. DE C.V. 534 -3
11 ALFA, S.A. DE C.V. 531 -2
12 GRUPO BIMBO, S.A. DE C.V. 528 -2
13 GRUPO TELEVISA, S.A. 510 -1
14 GRUPO FINANCIERO BANORTE, S.A. DE C.V. 498 NEW
15 GRUPO MEXICO, S.A. DE C.V. 495 -4
16 ORGANIZACION SORIANA, S.A. DE C.V. 493 -3
17 GRUPO MSA, S.A. DE C.V. 486 UNCH
18 EL PUERTO DE LIVERPOOL, S.A. DE C.V. 481 3
19 KIMBERLY - CLARK DE MEXICO S.A. DE C.V. 469 1
20 CONTROLADORA COMERCIAL MEXICANA, 467 -4
S.A. DE C.V.
21 COCA-COLA FEMSA, S.A. DE C.V. 465 2
22 DESC, S.A. DE C.V. 459 -3
23 GRUPO SANBORNS, S.A. DE C.V. 458 -5
24 GRUPO GIGANTE, S.A. DE C.V. 453 -9
25 VITRO, S.A. DE C.V. 452 -11
26 GRUPO FINANCIERO INBURSA, S.A. DE C.V. 445 NEW
27 GRUMA, S.A. DE C.V. 443 -3
28 EMBOTELLADORAS ARCA, S.A. DE C.V. 440 UNCH
29 GRUPO ELEKTRA, S.A. DE C.V. 422 -4
30 APASCO, S.A. DE C.V. 411 1
31 GRUPO CONTINENTAL, S.A. 409 1
32 GRUPO TMM, S.A. 403 -6
33 INDUSTRIAS BACHOCO, S.A. DE C.V. 398 -4
34 HYLSAMEX, S.A. DE C.V. 398 -4
35 INDUSTRIAS PENOLES, S.A. DE C.V. 398 UNCH
36 TV AZTECA, S.A. DE C.V. 386 1
37 US COMMERCIAL CORP, S.A. DE C.V. 380 NEW
38 GRUPO INDUSTRIAL SALTILLO, 372 2
S.A. DE C.V.
39 CORPORACION INTERAMERICANA DE 364 -1
ENTRETENIMIENTO, S.A. DE C.V.
40 GRUPO PALACIO DE HIERRO, S.A. DE C.V. 357 3
41 SAVIA S.A. DE C.V. 355 -7
42 CINTRA, S.A. DE C.V. 349 -20
43 GRUPO CASA SABA, S.A. DE C.V. 345 -1
44 EMPRESAS ICA SOCIEDAD CONTROLADORA, 344 -8
S.A. DE C.V.
45 CONSORCIO ARA, S.A. DE C.V. 339 5
46 NADRO, S.A. DE C.V. 328 -1
47 CORPORACION GEO, S.A. DE C.V. 311 1
48 GRUPO POSADAS, S.A. DE C.V. 310 1
49 GRUPO INDUSTRIAL MASECA, S.A. DE C.V. 308 2
50 EMBOTELLADORA ARGOS 291 -1
51 GRUPO CEMENTOS DE CHIHUAHUA, 288 4
S.A. DE C V
52 GRUPO HERDEZ, S.A. DE C.V. 284 4
53 SANLUIS CORPORACION, S.A. DE 284 -1
C.V.
54 CORPORACION MOCTEZUMA, S.A. 283 5
DE C.V.
55 GRUPO AEROPORTUARIO DEL 278 -9
SURESTE, S.A. DE C.V.
56 GRUPO EMBOTELLADORAS UNIDAS, 253 4
SA DE CV
57 GRUPO CORVI, S.A. DE C.V. 250 -10
58 CYDSA, S.A. DE C.V. 248 -14
59 GRUPO IUSACELL, S.A. DE C.V. 243 -20
60 GRUPO LAMOSA, S.A. DE C.V. 237 8
61 CORPORATIVO FRAGUA, S.A. 236 -3
DE C.V.
62 UNEFON, S.A. DE C.V. 236 -5
63 GRUPO INDUSTRIAL CAMESA, 232 -1
S.A. DE C.V.
64 JUGOS DEL VALLE, S.A. 228 -1
DE C.V.
65 INTERNACIONAL DE CERAMICA, 223 UNCH
S.A. DE C.V.
66 COMPANIA INDUSTRIAL DE 223 UNCH
PARRAS
67 ALSEA S.A. DE C.V. 207 -6
68 GRUPO BAFAR, S.A. DE C.V. 198 3
69 GRUPO LA MODERNA, 194 -5
S.A. DE C.V.
70 FAR-BEN, S.A. DE C.V. 191 -16
71 GRUPO MARTI, S.A. 177 5
72 ACCEL, S.A. DE C.V. 174 -2
73 G.ACCION, S.A. DE C.V. 171 2
74 EMPRESAS CABLEVISION, 165 NEW
S.A. DE C.V.
75 GRUPO MINSA, S.A. DE C.V. 162 -3
76 G COLLADO, S.A. DE C.V. 150 2
77 MEDICA SUR, S.A. DE C.V. 142 5
78 GRUPO RADIO CENTRO, 136 1
S.A. DE C.V.
79 MEXICHEM S.A. DE C.V. 132 NEW
80 GRUPO AZUCARERO MEXICO 130 NEW
81 CORPORACION MEXICANA 129 -12
DE RESTAURANTES,
S.A. DE C.V.
82 GRUPE, S.A. DE C.V. 114 -9
83 EMPAQUES PONDEROSA, 112 5
S.A. DE C.V.
84 CONSORCIO HOGAR, S.A. DE C.V. 111 6
85 GRUPO DATAFLUX, S.A. DE C.V. 108 -4
86 DERMET DE MEXICO, S.A. DE C.V. 107 -6
87 GRUPO COMERCIAL GOMO, 103 2
S.A. DE C.V.
88 HILASAL MEXICANA S.A. DE C.V. 97 6
89 EDOARDOS MARTIN, S.A. DE C.V. 92 -6
90 MAIZORO, S.A. DE C.V. 89 7
91 BIPER, S.A. DE C.V. 79 8
92 GRUPO DIXON, S.A. DE C.V. 73 UNCH
93 ECE, S.A. DE C.V. 73 UNCH
94 INDUSTRIA AUTOMOTRIZ, 73 2
S.A. DE C.V.
95 CONVERTIDORA INDUSTRIAL, 70 -4
S.A. DE C.V.
96 EKCO, S.A. 65 -1
97 SYNKRO S.A. DE C.V. 65 NEW
98 AGRO INDUSTRIAL EXPORTADORA, 53 2
S.A. DE C.V.
99 GRUPO MAOMA, S.A. DE C.V. 52 -1
100 GRUPO NUTRISA, S.A. DE C.V. 42 NEW
Fall From Grace
Several prominent companies fell off our Top 100 in the past year.
COMPANY SECTOR REASON FOR DEMOTION
PEPSI GEMEX Beverages acquired
CORPORACION DURANGO Packaging default
GRUPO SIMEC Steel no financial report
GRUPO SITUR Tourism suspended
CIA. MINERA AUTLAN Mining suspension/default
MAQUINARIA DIESEL Industrial suspended
CONSORCIO ARISTOS Tourism no financial statement
CONTROLADORA DE FARMACIAS Retail no financial data
INDUSTRIAS COVARRA Clothing bankruptcy protection
DUTY FREE Retail restructured
COMPANY NO. LAST YEAR
PEPSI GEMEX 27
CORPORACION DURANGO 33
GRUPO SIMEC 66
GRUPO SITUR 67
CIA. MINERA AUTLAN 74
MAQUINARIA DIESEL 77
CONSORCIO ARISTOS 84
CONTROLADORA DE FARMACIAS 85
INDUSTRIAS COVARRA 86
DUTY FREE 87
Top Companies by Sector
OVERALL RANKING COMPANY TOTAL
Conglomerates
8 Grupo Carso 548
11 Alfa 53
17 Grupo Imsa 486
22 Desc 459
25 Vitro 452
38 Grupo Ind. Saltillo 372
53 Corp. San Luis 284
58 Cydsa 248
72 Accel 174
Media
13 Grupo Televisa 510
36 TV Azteca 386
39 Corp. Interamericana de 364
Entrenimiento
74 Cablevision 164
78 Ratio Centro 136
Industrial, and Mining
15 Grupo Mexico 495
19 Kimberly-Clark de Mexico 469
34 Hylsamex 398
35 Industrias Penoles 398
63 Grupo Ind. Camesa 232
66 Comp. Ind. Camesa 223
79 Mexichem 132
83 Empaques Ponderosa 112
86 Dermet de Mexico 107
88 Hilasal Mexicana 97
92 Ind. Automotriz 73
93 Grupo Dixon 73
95 Convertidora Ind. 70
96 Ekco 65
97 Synkro 65
Telecoms
1 Telefonos de Mexico 589
2 Carso Global Telecom 586
7 America Movil 549
9 Amercia Telecom 538
59 Grupo lusacell 243
62 Unefon 236
91 Biper 79
Banks and Financials
3 Grupo Fin. BBVA Bancomer 573
14 Grupo Fin. Banorte 498
26 Grupo Fin. lnbursa 445
Construction
4 Cemex 570
30 Apasco 411
44 Empresas Ica 344
45 Consorcia Ara 339
47 Corporacion Geo 311
51 Cementos Chihuahua 288
54 Corp. Moctezuma 283
60 Grupo Lamosa 237
65 Internacional de Ceramica 223
73 Grupo Accion 171
84 Consorcio Hogar 111
5 Wal-Mart de Mexico 569
16 Organizacion Soriana 493
18 EI Puerto de Liverpool 481
20 Controladora Comercial Mexican 467
23 Grupo Sanborns 458
24 Grupo Gigante 453
29 Grupo Elektra 422
37 US Comercial Corp. 380
40 Grupo Palacio de Hierro 357
43 Grupo Casa Saba 345
46 Nadro 328
57 Grupo Corvi 250
61 Corporativo Fragua 236
70 Farmacias, Benavides 191
71 Grupo Marti 177
76 Grupo Collado 150
87 Grupo Comercial Gomo 103
89 Edoardo Martin 92
Food
12 Grupo Bimbo 528
27 Gruma 443
33 Bachoco 398
41 Savia 355
49 Ind. Maseca 307
52 Grupo Herdez 284
67 Alsea 207
68 Grupo Bafar 198
69 Grupo La Moderna 194
75 Grupo Minsa 162
80 Azucarero Mexico 130
81 Corp. Mexicana de Restaurantes 129
90 Maizoro 89
98 Agro Ind. Exportadora 53
99 Grupo Mac Ma 52
100 Grupo Nutrisa 42
Beverages
6 Fomento Economico Mexicano 555
10 Grupo Modelo 534
21 Coca-Cola Femsa 465
28 Embotelladors Arca 440
31 Grupo Continental 409
50 Emobotelladora Argos 291
56 Emobotelladoras Unidas 523
64 Jugos del Valle 228
Other
32 Grupo Tmm 403
42 Cintra 349
48 Grupo Posadas 310
55 Grupo Aeropuertario del Sureste 2778
77 Medica Sur 142
82 Grupe 114
85 Grupo Dataflux 108
94 Ece 73
RELATED ARTICLE: Method to Our Madness Madness Alcithoe driven mad by Dionysus. [Gk. Myth.: Kravitz, 16] Alcmeon driven mad by the Furies. [Gk. Myth. We have kept the same criteria for rating the companies from last year, except that we are using Operating Profit Operating profit (or loss) Revenue from a firm's regular activities less costs and expenses and before income deductions. operating profit See operating income. (EBIT EBIT See: Earnings Before Interest and Taxes EBIT See earnings before interest and taxes (EBIT). ) instead of EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) A metric used to show a company's profitability, but not its cash flow. EBITDA became popular in the 1980s to show the potential profitability of leveraged buyouts, but has become . This figure was included on more of the companies' earnings reports and therefore was deemed a better standard for making comparisons. We gave the companies a graduated, descending descending /des·cend·ing/ (de-send´ing) extending inferiorly. ranking. For example, the company with the greatest value of total assets (in this case Telmex) was given 100 points, the company with second highest 99 and so on down the list. The same method was used for the other criteria. Therefore, the maximum total number of points would be 600. All figures used are representative of the calendar year 2002 with a couple of exceptions--market cap is current as of April, and up-to-date employee numbers were not always available, so we used the most recent figures published. As a change from last year, we have included banking companies whose shares can be traded in Mexico (Banorte, Inbursa and Bancomer). This has caused a general downward shift for the smaller companies. We have also included a column charting the change from last year (Billboard style), so the biggest movers can be seen at a glance. Gianluca Baratti works as an analyst at Finamex Casa de Balsa and is BUSINESS MEXICO's Market Moves columnist. |
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