MEXICAN STOCK EXCHANGE
45
MEXICAN STOCK EXCHANGE WAL - MART DE MEXICO, S.A.B. DE C.V. BALANCE SHEETS STOCK EXCHANGE CODE: (Mexican Pesos) YEAR: QUARTER: 2008 03 CONSOLIDATED Final Printing TO SEPTEMBER 30 OF 2008 AND 2007 WALMEX Amount % % Amount CURRENT YEAR PREVIOUS YEAR CONCEPTS REF S s01 s02 s03 s04 s06 s07 s05 s08 s09 s10 s11 s12 s13 s16 s15 s14 s18 s17 s20 s21 s22 s23 s26 s25 s24 s29 s28 s27 s32 s31 s30 s33 s34 s35 s36 s79 s41 s40 s39 s44 s42 s80 CASH AND SHORT-TERM INVESTMENTS ACCOUNTS AND NOTES RECEIVABLE (NET) CURRENT ASSETS OTHER CURRENT ASSETS INVENTORIES OTHER ACCOUNTS AND NOTES RECEIVABLE (NET) LONG-TERM ACCOUNTS AND NOTES RECEIVABLE (NET) INVESTMENT IN SHARES OF NON-CONSOLIDATED SUBSIDIARIES AND ASSOCIATES OTHER INVESTMENTS LAND AND BUILDINGS PROPERTY, PLANT AND EQUIPMENT (NET) OTHER EQUIPMENT MACHINERY AND INDUSTRIAL EQUIPMENT ACCUMULATED DEPRECIATION CONSTRUCTION IN PROGRESS TOTAL LIABILITIES CURRENT LIABILITIES BANK LOANS SUPPLIERS TAXES PAYABLE STOCK MARKET LOANS OTHER CURRENT LIABILITIES WITHOUT COST BANK LOANS LONG-TERM LIABILITIES STOCK MARKET LOANS DEFERRED LIABILITIES OTHER LOANS WITH COST OTHER NON CURRENT LIABILITIES WITHOUT COST CONSOLIDATED STOCKHOLDERS EQUITY MAJORITY INTEREST MINORITY INTEREST TOTAL ASSETS CONTRIBUTED CAPITAL CAPITAL STOCK CONTRIBUTIONS FOR FUTURE CAPITAL INCREASES PREMIUM ON ISSUANCE OF SHARES EARNED CAPITAL OTHER ACCUMULATED COMPREHENSIVE RESULT RETAINED EARNINGS AND CAPITAL RESERVES SHARES REPURCHASED s103 OTHER LOANS WITH COST s19 OTHER INTANGIBLE ASSETS AND DEFERRED ASSETS (NET) OTHER ASSETS 107,702,435 31,197,590 7,407,503 712,102 2,475,927 19,970,113 631,945 0 0 0 0 76,504,845 73,221,666 0 27,841,103 27,631,370 3,073,446 0 0 37,663,133 3,226,917 0 3,226,917 0 216,074 6,293,404 345,006 5,055,719 0 70,039,302 0 70,039,302 22,332,899 23,652,935 -1,320,036 0 47,706,403 47,706,403 0 0 29,380,497 22,526,013 0 0 100,776,336 31,945,955 7,288,371 641,050 2,919,588 20,446,778 650,168 0 0 0 0 68,830,381 65,649,371 0 24,657,645 24,456,823 2,980,188 0 0 38,197,922 2,546,914 0 2,546,914 0 205,874 5,477,200 298,768 6,533,712 0 62,578,414 0 62,578,414 21,290,305 22,157,552 -867,247 0 41,288,109 41,288,109 0 0 29,117,296 23,135,454 0 0 100 29 7 1 2 19 1 0 0 0 0 71 68 0 26 26 3 0 0 100 78 60 0 0 1 1 17 9 0 9 0 13 0 100 0 100 32 34 -2 0 68 68 0 0 100 32 7 1 3 20 1 0 0 0 0 68 65 0 24 24 3 0 0 100 76 61 0 0 1 1 14 7 0 7 0 17 0 100 0 100 34 35 -1 0 66 66 0 0
description
Transcript of MEXICAN STOCK EXCHANGE
MEXICAN STOCK EXCHANGE
WAL - MART DE MEXICO, S.A.B. DE C.V. BALANCE SHEETS
STOCK EXCHANGE CODE:
(Mexican Pesos)
YEAR:QUARTER: 200803
CONSOLIDATED
Final Printing
TO SEPTEMBER 30 OF 2008 AND 2007
WALMEX
Amount % %Amount
CURRENT YEAR PREVIOUS YEARCONCEPTSREF S
s01
s02
s03s04
s06
s07
s05
s08
s09
s10
s11
s12
s13
s16
s15
s14
s18
s17
s20
s21
s22
s23
s26
s25
s24
s29
s28
s27
s32
s31
s30
s33
s34
s35
s36
s79
s41
s40
s39
s44
s42
s80
CASH AND SHORT-TERM INVESTMENTSACCOUNTS AND NOTES RECEIVABLE (NET)
CURRENT ASSETS
OTHER CURRENT ASSETS
INVENTORIES
OTHER ACCOUNTS AND NOTES RECEIVABLE (NET)
LONG-TERM
ACCOUNTS AND NOTES RECEIVABLE (NET)
INVESTMENT IN SHARES OF NON-CONSOLIDATEDSUBSIDIARIES AND ASSOCIATES
OTHER INVESTMENTS
LAND AND BUILDINGS
PROPERTY, PLANT AND EQUIPMENT (NET)
OTHER EQUIPMENT
MACHINERY AND INDUSTRIAL EQUIPMENT
ACCUMULATED DEPRECIATION
CONSTRUCTION IN PROGRESS
TOTAL LIABILITIES
CURRENT LIABILITIES
BANK LOANS
SUPPLIERS
TAXES PAYABLE
STOCK MARKET LOANS
OTHER CURRENT LIABILITIES WITHOUT COST
BANK LOANS
LONG-TERM LIABILITIES
STOCK MARKET LOANS
DEFERRED LIABILITIES
OTHER LOANS WITH COST
OTHER NON CURRENT LIABILITIES WITHOUT COST
CONSOLIDATED STOCKHOLDERS EQUITY
MAJORITY INTEREST
MINORITY INTEREST
TOTAL ASSETS
CONTRIBUTED CAPITAL
CAPITAL STOCK
CONTRIBUTIONS FOR FUTURE CAPITAL INCREASES
PREMIUM ON ISSUANCE OF SHARES
EARNED CAPITAL
OTHER ACCUMULATED COMPREHENSIVE RESULT
RETAINED EARNINGS AND CAPITAL RESERVES
SHARES REPURCHASED
s103 OTHER LOANS WITH COST
s19
OTHER INTANGIBLE ASSETS AND DEFERRED ASSETS(NET)
OTHER ASSETS
107,702,435
31,197,590
7,407,503
712,102
2,475,927
19,970,113
631,945
0
0
0
0
76,504,845
73,221,666
0
27,841,103
27,631,370
3,073,446
0
0
37,663,133
3,226,917
0
3,226,917
0
216,074
6,293,404
345,006
5,055,719
0
70,039,302
0
70,039,302
22,332,899
23,652,935
-1,320,036
0
47,706,403
47,706,403
0
0
29,380,497
22,526,013
0
0
100,776,336
31,945,955
7,288,371
641,050
2,919,588
20,446,778
650,168
0
0
0
0
68,830,381
65,649,371
0
24,657,645
24,456,823
2,980,188
0
0
38,197,922
2,546,914
0
2,546,914
0
205,874
5,477,200
298,768
6,533,712
0
62,578,414
0
62,578,414
21,290,305
22,157,552
-867,247
0
41,288,109
41,288,109
0
0
29,117,296
23,135,454
0
0
100
29
7
1
2
19
1
0
0
0
0
71
68
0
26
26
3
0
0
100
78
60
0
0
1
1
17
9
0
9
0
13
0
100
0
100
32
34
-2
0
68
68
0
0
100
32
7
1
3
20
1
0
0
0
0
68
65
0
24
24
3
0
0
100
76
61
0
0
1
1
14
7
0
7
0
17
0
100
0
100
34
35
-1
0
66
66
0
0
MEXICAN STOCK EXCHANGE
WAL - MART DE MEXICO, S.A.B. DE C.V. BALANCE SHEETS
STOCK EXCHANGE CODE:
(Mexican Pesos)
BREAKDOWN OF MAIN CONCEPTS
YEAR:QUARTER: 200803
CONSOLIDATED
Final Printing
WALMEX
PREVIOUS YEARREF S CONCEPTS
Amount %Amount %
CURRENT YEAR
s03s46s47
s81s82s83
s85s50s104
s87s86
s21s52s53
s26
s89s88
s07
s48s49s51
s18
s19
s32s66s91s92s69
s79
s38s37
s90s68
s58
s27
s60s59
s31
s67s65
SHORT-TERM INVESTMENTSCASH
DISCONTINUED OPERATIONSDERIVATIVE FINANCIAL INSTRUMENTS
OTHER
DERIVATIVE FINANCIAL INSTRUMENTS
BENEFITS TO EMPLOYEESDEFERRED TAXES
OTHERDISCONTINUED OPERATIONS
CURRENT LIABILITIESFOREIGN CURRENCY LIABILITIESMEXICAN PESOS LIABILITIES
OTHER CURRENT LIABILITIES WITHOUT COST
INTEREST LIABILITIESDERIVATIVE FINANCIAL INSTRUMENTS
CASH AND SHORT-TERM INVESTMENTS
OTHER CURRENT ASSETS
GOODWILLDEFERRED EXPENSES (NET)
OTHER
OTHER INTANGIBLE ASSETS AND DEFERRED ASSETS(NET)
OTHER ASSETS
OTHER NON CURRENT LIABILITIES WITHOUT COSTDEFERRED TAXESOTHER LIABILITIES IN RESPECT OF SOCIAL INSURANCEDISCONTINUED OPERATIONSOTHER LIABILITIES
CAPITAL STOCK
RESTATEMENT OF CAPITAL STOCK
CAPITAL STOCK (NOMINAL)
DISCONTINUED OPERATIONSPROVISIONS
OTHER CURRENT LIABILITIES
LONG-TERM LIABILITIES
MEXICAN PESOS LIABILITIESFOREIGN CURRENCY LIABILITIES
DEFERRED LIABILITIES
OTHERNEGATIVE GOODWILL
7,407,503
95,7227,311,781
631,94500
631,945
0
000
00
0000
29,380,4972,691,298
26,689,199
6,293,4040000
6,193,604
3,226,9170
3,226,917
000
5,055,7194,973,080
82,6390
0
23,652,93514,507,683
9,145,252
7,288,371
56,8947,231,477
650,16800
650,168
0
000
000000
29,117,2962,631,017
26,486,279
5,477,2000000
5,404,617
2,546,9140
2,546,914
000
6,533,7126,456,024
77,6880
0
22,157,55212,932,086
9,225,466
100
199
10000
100
100
000
10000000
1009
91
1000000
98
1000
100
10000
10098
20
0
1006139
100
199
10000
100
100
000
10000000
1009
91
1000000
99
1000
100
10000
10099
10
0
1005842
s105 BENEFITS TO EMPLOYEES 99,800 2 72,583 1
MEXICAN STOCK EXCHANGE
WAL - MART DE MEXICO, S.A.B. DE C.V. BALANCE SHEETS
STOCK EXCHANGE CODE:
(Mexican Pesos)
BREAKDOWN OF MAIN CONCEPTS
YEAR:QUARTER: 200803
CONSOLIDATED
Final Printing
WALMEX
REF S CONCEPTSAmount % Amount
CURRENT YEAR
%
PREVIOUS YEAR
s42s93
s95s94s43
s45
s100
s44s70
s97
s96
s71
s98
RETAINED EARNINGS AND CAPITAL RESERVESLEGAL RESERVE
OTHER RESERVESRESERVE FOR REPURCHASE OF SHARES
RETAINED EARNINGSNET INCOME FOR THE YEAR
OTHER
OTHER ACCUMULATED COMPREHENSIVE RESULTACCUMULATED MONETARY RESULT
CUMULATIVE RESULT FROM FOREIGN CURRENCYTRANSLATION
RESULT FROM HOLDING NON-MONETARY ASSETS
CUMULATIVE RESULT FROM DERIVATIVE FINANCIALINSTRUMENTSCUMULATIVE EFFECT OF DEFERRED INCOME TAXES
47,706,4034,421,048
00
33,532,3399,753,016
000
0
0
00
41,288,1094,069,052
00
27,714,3849,504,673
000
0
0
0
0
100900
7020
10000
0
0
0
0
10010
00
6723
10010000
0
0
0
0
MEXICAN STOCK EXCHANGE
WAL - MART DE MEXICO, S.A.B. DE C.V. BALANCE SHEETS
STOCK EXCHANGE CODE:
(Mexican Pesos)
OTHER CONCEPTS
YEAR:QUARTER: 200803
CONSOLIDATED
Final Printing
WALMEX
REF S CONCEPTSCURRENT YEAR
Amount
PREVIOUS YEAR
Amount
s72s73s74
s76s77
s101
s75
s102
s78
EXECUTIVES (*)PENSIONS AND SENIORITY PREMIUMS
OUTSTANDING SHARES (*)WORKERS (*)
RESTRICTED CASH (1)
WORKING CAPITAL
EMPLOYEES (*)
DEBT OF NON CONSOLIDATED COMPANIES
REPURCHASED SHARES (*)
(*) THESE CONCEPTS ARE STATED IN UNITS
1,817,093319,579
0166,257
08,456,825,523
40,725,00000
2,828,659276,754
0155,208
08,493,155,186
119,185,00000
MEXICAN STOCK EXCHANGE
WAL - MART DE MEXICO, S.A.B. DE C.V. STATEMENTS OF INCOME
STOCK EXCHANGE CODE:
(Mexican Pesos)
YEAR:QUARTER:
FROM JANUARY THE 1st TO SEPTEMBER 30 OF 2008 AND 2007CONSOLIDATED
Final Printing
200803WALMEX
REF R CONCEPTSAmount Amount %%
PREVIOUS YEARCURRENT YEAR
null
r01
r02
r03
r04
r06
r05
r08
r09
r10
r11
r12
r14
r19
r18
r20
r48
GROSS PROFIT
GENERAL EXPENSES
COST OF SALES
COMPREHENSIVE FINANCING RESULT
INCOME (LOSS) AFTER GENERAL EXPENSES
OTHER INCOME AND (EXPENSE), NET
INCOME BEFORE INCOME TAXES
INCOME TAXES
INCOME (LOSS) BEFORE DISCONTINUED OPERATIONS
EQUITY IN NET INCOME OF NON-CONSOLIDATEDSUBSIDIARIES AND ASSOCIATES
DISCONTINUED OPERATIONS
NET CONSOLIDATED INCOME
NET INCOME OF MINORITY INTEREST
NET INCOME OF MAJORITY INTEREST
NON ORDINARY ITEMS
NET SALES 172,248,427
37,030,209
23,972,192
13,058,017
-90,491
578,327
0
0
13,545,853
3,792,837
9,753,016
0
9,753,016
0
9,753,016
157,647,593
123,844,869
33,802,724
21,486,907
12,315,817
-111,986
997,103
0
0
13,200,934
3,696,261
9,504,673
09,504,673
9,504,673
100
79
21
14
8
0
0
0
0
8
2
6
06
6
100
79
21
14
8
0
1
0
0
8
2
6
0
6
0
6
135,218,218
00
MEXICAN STOCK EXCHANGE
WAL - MART DE MEXICO, S.A.B. DE C.V. STATEMENTS OF INCOME
STOCK EXCHANGE CODE:
(Mexican Pesos)
BREAKDOWN OF MAIN CONCEPTS
YEAR:QUARTER:
CONSOLIDATED
Final Printing
200803WALMEX
CURRENT YEARREF R
Amount %CONCEPTS
PREVIOUS YEAR
Amount %
r01
r21
r22
r24
r26
r42
r45
r46
r28
r34
r35
r25
r06
r10
r32
r33
r23
FOREIGN
INTEREST EXPENSE
DOMESTIC
GAIN (LOSS) ON RESTATEMENT OF UDIS
INTEREST INCOME
OTHER FINANCE COSTS
OTHER FINANCIAL PRODUCTS
RESULT FROM MONETARY POSITION
EMPLOYEES PROFIT SHARING EXPENSES
DEFERRED EMPLOYEES PROFIT SHARING
FOREIGN EXCHANGE GAIN (LOSS) (NET)
NET SALES
COMPREHENSIVE FINANCING RESULT
DEFERRED INCOME TAX
INCOME TAX
INCOME TAXES
TRANSLATED INTO DOLLARS (***)
(***) FIGURES IN THOUSANDS OF U.S. DOLLARS AT THE EXCHANGE RATE AS OF THE END OF THE LAST REPORTED QUARTER
r08 OTHER INCOME AND (EXPENSE), NET
r49 OTHER INCOME AND (EXPENSE), NET
172,248,427
172,248,4270
0
-90,491
-61,425
29,066
0
578,327
0
0
112,748
718,951
0
-27,876
0
3,792,837
4,517,649-724,812
157,647,593
157,647,5930
0
-111,986
-73,957
38,029
0
997,103
0
0
101,147
769,447
0
5,613
323,190
3,696,261
3,133,547562,714
100
1000
0
100
68
-32
0
100
0
0
19
124
0
-5
0
100
119-19
100
1000
0
100
66
-34
0
100
0
0
10
77
0
1
32
100
8515
MEXICAN STOCK EXCHANGE
WAL - MART DE MEXICO, S.A.B. DE C.V. STATEMENTS OF INCOME
STOCK EXCHANGE CODE:
(Mexican Pesos)
OTHER CONCEPTS
YEAR:QUARTER:
CONSOLIDATED
Final Printing
200803WALMEX
PREVIOUS YEARCURRENT YEARREF R
Amount AmountCONCEPTS
r40
r36r37r38r39
r41
r47
NET SALES (**)TAX RESULT FOR THE YEAR
NET INCOME OF MAJORITY INTEREST (**)
OPERATING INCOME (**)
NET CONSOLIDATED INCOME (**)
OPERATIVE DEPRECIATION AND ACCUMULATED
TOTAL SALES
(**) RESTATED INFORMATION OF THE LAST TWELVE MONTHS
10
239,577,21519,413,077
14,477,349
14,477,349
3,075,526
10
220,753,72618,310,083
14,053,444
14,053,444
2,740,267
MEXICAN STOCK EXCHANGE
WAL - MART DE MEXICO, S.A.B. DE C.V. QUARTERLY STATEMENTS OF INCOME
STOCK EXCHANGE CODE:
(Mexican Pesos)
YEAR:QUARTER:
FROM JULY1 TO SEPTEMBER 30 OF 2008CONSOLIDATED
Final Printing
200803WALMEX
PREVIOUS YEAR
%Amount%Amount
CURRENT YEARCONCEPTSREF
RT
rt01
rt02
rt03
rt04
rt06
rt05
rt08
rt09
rt10
rt11
rt12
rt14
rt19
rt18
rt20
rt48
GROSS PROFIT
GENERAL EXPENSES
COST OF SALES
COMPREHENSIVE FINANCING RESULT
INCOME (LOSS) AFTER GENERAL EXPENSES
OTHER INCOME AND (EXPENSE), NET
INCOME BEFORE INCOME TAXES
INCOME TAXES
INCOME (LOSS) BEFORE DISCONTINUED OPERATIONS
EQUITY IN NET INCOME OF NON-CONSOLIDATEDSUBSIDIARIES AND ASSOCIATES
DISCONTINUED OPERATIONS
NET CONSOLIDATED INCOME
NET INCOME OF MINORITY INTEREST
NET INCOME OF MAJORITY INTEREST
NON ORDINARY ITEMS
NET SALES 57,697,288
44,994,773
12,702,515
8,250,643
4,451,872
-84,544
172,956
0
0
4,540,284
1,271,280
3,269,004
0
3,269,004
0
3,269,004
53,485,236
41,817,492
11,667,744
7,324,136
4,343,608
-46,630
448,171
0
0
4,745,149
1,328,641
3,416,508
0
3,416,508
0
3,416,508
100
78
22
14
8
0
0
0
0
8
2
6
0
6
0
6
100
78
22
14
8
0
1
0
0
9
2
6
0
6
0
6
MEXICAN STOCK EXCHANGE
WAL - MART DE MEXICO, S.A.B. DE C.V. QUARTERLY STATEMENTS OF INCOME
STOCK EXCHANGE CODE:
(Mexican Pesos)
BREAKDOWN OF MAIN CONCEPTS
YEAR:QUARTER:
CONSOLIDATED
Final Printing
200803WALMEX
PREVIOUS YEARCURRENT YEARREFRT
Amount %Amount %CONCEPTS
rt01
rt21
rt22
rt24
rt26
rt42
rt45
rt46
rt28
rt34
rt35
rt25
rt06
rt10
rt32
rt33
rt23
FOREIGN
INTEREST EXPENSE
DOMESTIC
GAIN (LOSS) ON RESTATEMENT OF UDIS
INTEREST INCOME
OTHER FINANCE COSTS
OTHER FINANCIAL PRODUCTS
RESULT FROM MONETARY POSITION
EMPLOYEES PROFIT SHARING EXPENSES
DEFERRED EMPLOYEES PROFIT SHARING
FOREIGN EXCHANGE GAIN (LOSS) (NET)
NET SALES
COMPREHENSIVE FINANCING RESULT
DEFERRED INCOME TAX
INCOME TAX
INCOME TAXES
TRANSLATED INTO DOLLARS (***)
(***) FIGURES IN THOUSANDS OF U.S. DOLLARS AT THE EXCHANGE RATE AS OF THE END OF THE LAST REPORTED QUARTER
rt08 OTHER INCOME AND (EXPENSE), NET
rt49 OTHER INCOME AND (EXPENSE), NET
57,697,288
57,697,2880
0
-84,544
-71,339
13,205
0
172,956
0
0
20,223
259,170
0
-65,991
0
1,271,280
1,607,205-335,925
53,485,236
53,485,2360
0
-46,630
-33,385
13,245
0
448,171
0
0
35,873
224,894
0
3,900
255,250
1,328,641
582,690745,951
100
1000
0
100
84
-16
0
100
0
0
12
150
0
-38
0
100
126-26
100
1000
0
100
72
-28
0
100
0
0
8
50
0
1
57
100
4456
MEXICAN STOCK EXCHANGE
WAL - MART DE MEXICO, S.A.B. DE C.V. QUARTERLY STATEMENTS OF INCOME
STOCK EXCHANGE CODE:
(Mexican Pesos)
OTHER CONCEPTS
YEAR:QUARTER: 200803
CONSOLIDATED
Final Printing
WALMEX
PREVIOUS YEARREFRT CONCEPTS
Amount
CURRENT YEAR
Amount
rt47 OPERATIVE DEPRECIATION AND ACCUMULATEDIMPAIRMENT LOSSES
1,006,942 933,767
MEXICAN STOCK EXCHANGE
WAL - MART DE MEXICO, S.A.B. DE C.V. STATEMENTS OF CHANGES IN FINANCIALPOSITION
STOCK EXCHANGE CODE:
(Mexican Pesos)
YEAR:QUARTER: 03 2008
CONSOLIDATED
Final Printing
FROM JANUARY THE 1st TO SEPTEMBER 30 OF 2008 AND 2007
WALMEX
c01
c02
c03
c04
c06
c07
c05
c08
c09
c10
c11
c12
RESOURCES FROM NET INCOME FOR THE YEAR
RESOURCES PROVIDED OR USED IN OPERATION
+ (-) ITEMS ADDED TO INCOME WHICH DO NOT REQUIREUSING RESOURCES
RESOURCES PROVIDED BY (USED FOR) INTERNALFINANCING ACTIVITIES
RESOURCES PROVIDED BY (USED FOR) EXTERNALFINANCING ACTIVITIES
RESOURCES PROVIDED BY (USED FOR) OPERATINGACTIVITIES
RESOURCES PROVIDED BY (USED FOR) FINANCINGACTIVITIESRESOURCES PROVIDED BY (USED FOR) INVESTMENTACTIVITIES
NET INCREASE (DECREASE) IN CASH AND SHORT-TERMINVESTMENTS
CASH AND SHORT-TERM INVESTMENTS AT THE BEGINNINGOF PERIOD
CASH AND SHORT-TERM INVESTMENTS AT THE END OFPERIOD
CONSOLIDATED NET INCOME
REF C CONCEPTSAmount Amount
CURRENT YEAR PREVIOUS YEAR
0
0
0
0
0
0
0
0
0
0
0
0
9,504,673
3,337,417
12,842,090
-5,265,345
7,576,745
237,427
-7,690,559
-7,453,132
-8,384,186
-8,260,573
15,548,944
7,288,371
MEXICAN STOCK EXCHANGE
WAL - MART DE MEXICO, S.A.B. DE C.V. STATEMENTS OF CHANGES IN FINANCIALPOSITION
STOCK EXCHANGE CODE:
(Mexican Pesos)
BREAKDOWN OF MAIN CONCEPTS
YEAR:QUARTER: 03 2008
CONSOLIDATED
Final Printing
WALMEX
REF CCURRENT YEAR
AmountCONCEPTS
PREVIOUS YEAR
Amount
c39c38
c37
c36c35
c09
c34
c43
c32
c07
c31
c30
c42c29c28c27c26c25c24c23
c06
c04
c19
c18
c02
c33
c20
c22
c21
c41c13
+ (-) OTHER ITEMS+ SALE OF TANGIBLE FIXED ASSETS
+ SALE OF OTHER PERMANENT INVESTMENTS
(-) INCREASE IN CONSTRUCTIONS IN PROGRESS(-) ACQUISITION OF PROPERTY, PLANT AND EQUIPMENT
RESOURCES PROVIDED BY (USED FOR) INVESTMENTACTIVITIES
+ (-) DECREASE (INCREASE) IN PERMANENT INVESTMENTS
+ (-) OTHER ITEMS
+ PREMIUM ON ISSUANCE OF SHARES
RESOURCES PROVIDED BY (USED FOR) INTERNALFINANCING ACTIVITIES
(-) DIVIDENDS PAID
+ (-) INCREASE (DECREASE) IN CAPITAL STOCK
+ (-) OTHER ITEMS(-) OTHER FINANCING AMORTIZATION(-) STOCK MARKET FINANCING AMORTIZATION(-) BANK FINANCING AMORTIZATION+ OTHER FINANCING+ DIVIDEND RECEIVED+ STOCK MARKET FINANCING+ BANK FINANCING
RESOURCES PROVIDED BY (USED FOR) EXTERNALFINANCING ACTIVITIES
RESOURCES PROVIDED OR USED IN OPERATION
+ (-) DECREASE (INCREASE) IN INVENTORIES
+ (-) DECREASE (INCREASE) IN ACCOUNTS RECEIVABLE
+ CONTRIBUTIONS FOR FUTURE CAPITAL INCREASES
+ (-) DECREASE (INCREASE) IN OTHER ACCOUNTSRECEIVABLE
+ (-) INCREASE (DECREASE) IN SUPPLIERS
+ (-) INCREASE (DECREASE) IN OTHER LIABILITIES
+ (-) ITEMS ADDED TO INCOME WHICH DO NOT REQUIREUSING RESOURCES
+ (-) OTHER ITEMS+ DEPRECIATION AND AMORTIZATION FOR THE YEAR
0
00
0
0
0
0
0
0
0
00000000
0
0
00
0
0
0
0
00
0
00
3,337,417
2,740,267597,150
-5,265,345
397,950
-2,099,475
-74,510
-3,702,528
213,218
237,427
000000
237,4270
-7,690,559
0
-2,297,9290
0
-5,392,630
-8,384,186
0
-7,676,9310
0
239,144-946,399
MEXICAN STOCK EXCHANGE
WAL - MART DE MEXICO, S.A.B. DE C.V. STATE OF CASH FLOW (INDIRECT METHOD)
STOCK EXCHANGE CODE:
(Mexican Pesos)
MAIN CONCEPTS
YEAR:QUARTER: 03 2008
CONSOLIDATED
Final Printing
WALMEX
REF FCURRENT YEAR
AmountCONCEPTS
PREVIOUS YEAR
Amount
ACTIVITIES OF OPERATIONe01 INCOME (LOSS) BEFORE INCOME TAXES 13,545,853 13,200,934
+ (-)ITEMS NOT REQUIRING CASHe02 0 -587,068+ (-)ITEMS RELATED TO INVESTING ACTIVITIESe03 3,256,152 2,911,424+ (-)ITEMS RELATED TO FINANCING ACTIVITIESe04 112,748 101,147CASH FLOW BEFORE INCOME TAXe05
e06 CASH FLOWPROVIDED OR USED IN OPERATIONNET CASH FLOWS PROVIDED OF OPERATING ACTIVITIESe07
16,914,753-4,631,98512,282,768 7,842,867
-7,783,57015,626,437
INVESTMENT ACTIVITIESe08 NET CASH FLOW FROM INVESTING ACTIVITIES -8,257,959 -8,165,755
e09 FINANCING ACTIVITIES 4,024,809 -322,888
e10
e11
e12e13e14 CASH AND CASH EQUIVALENTS AT END OF PERIOD
CASH AND CASH EQUIVALENTS AT THE BEGINING OF PERIODTRANSLATION DIFFERENCES IN CASH AND CASH EQUIVALENTS
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS
NET CASH FROM FINANCING ACTIVITIESFINANCING ACTIVITIES
-5,601,123
-1,576,314
08,983,8177,407,503 7,288,371
15,548,9440
-8,260,573
-7,937,685
MEXICAN STOCK EXCHANGE
WAL - MART DE MEXICO, S.A.B. DE C.V. STATE OF CASH FLOW (INDIRECT METHOD)
STOCK EXCHANGE CODE:
(Mexican Pesos)
DESGLOSE DE MAIN CONCEPTS
YEAR:QUARTER: 03 2008
CONSOLIDATED
Final Printing
WALMEX
REF FCURRENT YEAR
AmountCONCEPTS
PREVIOUS YEAR
Amount
* IN CASE THAT THIS AMOUNT IS DIFFERENT FROM THE R47 ACCOUNT IT WILL HAVE TO EXPLAIN IN NOTES.
e02 + (-)ITEMS NOT REQUIRING CASH 0 -587,06800+ESTIMATES FOR THE PERIODe15
e16 +PROVISIONS FOR THE PERIODe17 + (-)OTHER UNREALIZED ITEMS
00 -587,068
0
e03 + (-)ITEMS RELATED TO INVESTING ACTIVITIESe18 + DEPRECIATION AND AMORTIZATION FOR THE PERIODe19 (-) +GAIN OR LOSS ON SALE OF PROPERTY, PLANT AND EQUIPMENT
3,256,1523,075,526
67,332 135,6742,740,2672,911,424
e20 +IMPAIRMENT LOSS 45,498 35,4830000
00(-) +EQUITY IN RESULTS OF ASSOCIATES AND JOINT VENTURES
(-)DIVIDENDS RECEIVED(-)INTEREST INCOMEe23
e22e21
e24 (-)+ OTHER ITEMS 67,796 0
e04 + (-)ITEMS RELATED TO FINANCING ACTIVITIES 112,748 101,147e25e26
+ACCRUED INTEREST+ (-) OTHER ITEMS
112,7480
101,1470
e06 CASH FLOWPROVIDED OR USED IN OPERATION -4,631,985 -7,783,570
e32e31e30
e29
e28e27
+ (-) INCOME TAXES PAID OR RETURNED+ (-)INCREASE (DECREASE) IN OTHER LIABILITIES+ (-)INCREASE (DECREASE) IN SUPPLIERS
+ (-)DECREASE (INCREASE) IN OTHER ACCOUNTS RECEIVABLE
+ (-)DECREASE (INCREASE) IN INVENTORIES+ (-)DECREASE (INCREASE) IN ACCOUNTS RECEIVABLE
-5,131,106881,133
-2,854,983
23,244
913,0181,536,709
-3,567,919402,128
-3,175,689
-88,693
-2,123,759770,362
e08 NET CASH FLOW FROM INVESTING ACTIVITIES -8,257,959 -8,165,755
e38e37e36e35e34e33
+DISPOSITION OF INTANGIBLE ASSETS-INVESTMENT IN INTANGIBLE ASSETS+SALE OF PROPERTY, PLANT AND EQUIPMENT-INVESTMENT IN PROPERTY, PLANT AND EQUIPMENT+DISPOSITION OF PERMANENT INVESTMENT IN SHARES-PERMANENT INVESTMENT IN SHARES
00
90,417-7,749,245
00
00
71,790-7,632,764
00
e44e43e42e41e40e39
+ (-)OTHER ITEMS+ (-)DECREASE (INCREASE) ADVANCES AND LOANS TO THIRD PARTS+INTEREST RECEIVED+ DIVIDEND RECEIVED+DISPOSITION OF OTHER PERMANENT INVESTMENTS-OTHER PERMANENT INVESTMENTS
-599,13100000
-604,78100000
e10 NET CASH FROM FINANCING ACTIVITIES -5,601,123 -7,937,685
e50e49e48e47e46e45
(-)OTHER FINANCING AMORTIZATION(-)STOCK MARKET FINANCING AMORTIZATION(-)BANK FINANCING AMORTIZATION+OTHER FINANCING+STOCK MARKET FINANCING+BANK FINANCING
000
-255,13300
000
-247,12600
e56e55e54e53e52e51
-REPURCHASE OF SHARES-INTEREST EXPENSE+CONTRIBUTIONS FOR FUTURE CAPITAL INCREASES+PREMIUM ON ISSUANCE OF SHARES(-)DIVIDENDS PAID+ (-)INCREASE (DECREASE) IN CAPITAL STOCK
-2,137,882000
-3,208,1080
-5,392,630000
-2,297,9290
00+ (-)OTHER ITEMSe57
MEXICAN STOCK EXCHANGE
WAL - MART DE MEXICO, S.A.B. DE C.V.
DATA PER SHARE
STOCK EXCHANGE CODE: YEAR:QUARTER: 200803
Final Printing
CONSOLIDATED
WALMEX
PREVIOUS YEAR
AMOUNTREF D
CURRENT YEAR
AMOUNTCONCEPTS
d01
d02
d03
d04
d05
d08
d09
d10
d11
d13
d12
DILUTED PROFIT PER ORDINARY SHARE (**)
EARNINGS (LOSS) BEFORE DISCONTINUED OPERATIONSPER COMMON SHARE (**)
BASIC PROFIT PER PREFERRED SHARE (**)
DISCONTINUED OPERATIONS EFFECT ON EARNING(LOSS) PER SHARE (**)
CARRYNG VALUE PER SHARE
CASH DIVIDEND ACCUMULATED PER SHARE
DIVIDEND IN SHARES PER SHARE
MARKET PRICE TO CARRYING VALUE
MARKET PRICE TO BASIC PROFIT PER PREFERENTSHARE (**)
BASIC PROFIT PER ORDINARY SHARE (**)
MARKET PRICE TO BASIC PROFIT PER ORDINARY SHARE(**)
(**) TO CALCULATE THE DATA PER SHARE USE THE NET INCOME FOR THE LAST TWELVE MONTHS.
shares
times
times
times
shares
times
times
times
8.28
0.00
0.00
0.00
1.70
1.70
0.59
0.00
4.54
22.06
0.00
1.64
0.00
0.00
1.64
0.00
7.37
0.51
0.00
5.53
24.89
0.00
$
$
$
$
$
$
$
$
$
$
$
$
$
$
MEXICAN STOCK EXCHANGE
WAL - MART DE MEXICO, S.A.B. DE C.V.
RATIOS
STOCK EXCHANGE CODE: YEAR:QUARTER: 200803
Final Printing
CONSOLIDATED
WALMEX
9.56
p01
p02
p03
p05
p06
p04
p07
p08
p09
p10
p12
p11
NET CONSOLIDATED INCOME TO STOCKHOLDERS EQUITY (**)
NET INCOME TO TOTAL ASSETS (**)
NET CONSOLIDATED INCOME TO NET SALES
NET SALES TO NET ASSETS (**)
RESULT FROM MONETARY POSITION TO NET CONSOLIDATEDINCOME
CASH DIVIDENDS TO PREVIOUS YEAR NET INCOME
NET SALES TO PROPERTY, PLANT AND EQUIPMENT (NET) (**)
INVENTORIES TURNOVER (**)
ACCOUNTS RECEIVABLE IN DAYS OF SALES
PAID INTEREST TO TOTAL LIABILITIES WITH COST (**)
TOTAL LIABILITIES TO STOCKHOLDERS EQUITY
YIELD
TOTAL LIABILITIES TO TOTAL ASSETS
(**) IN THESE RATIOS FOR THE DATA TAKE INTO CONSIDERATION THE LAST TWELVE MONTHS.
ACTIVITY
LEVERAGE
p13
p14p16
p17
p15
p18
p19
p20
FOREIGN CURRENCY LIABILITIES TO TOTAL LIABILITIESLONG-TERM LIABILITIES TO PROPERTY, PLANT ANDEQUIPMENT (NET)
CURRENT ASSETS TO CURRENT LIABILITIES
NET SALES TO TOTAL LIABILITIES (**)
INCOME (LOSS) AFTER GENERAL EXPENSES TO INTERESTPAID
CURRENT ASSETS LESS INVENTORY TO CURRENTLIABILITIES
CURRENT ASSETS TO TOTAL LIABILITIES
CASH AND SHORT-TERM INVESTMENTS TO CURRENTLIABILITIES
LIQUIDITY
%
%
%
%
times
%
times
times
days
%
times
%
%
%
times
times
times
times
times
%
%
%
%
%
times
%
times
times
days
%
times%
%
%
times
times
times
times
times
%
5.66
20.67
13.44
22.55
0.00
2.22
3.13
1
0.00
34.97
0.54
7.15
4.22
0.00
6.36
1.06
0.38
0.83
25.21
6.03
22.46
13.95
17.82
3.40
2.19
3.21
9.31
1
0.00
37.900.61
6.89
3.70
0.00
5.78
1.10
0.39
0.84
25.03
CURRENT YEARCONCEPTSREF P PREVIOUS YEAR
p14
MEXICAN STOCK EXCHANGE
MANAGEMENTÆS DISCUSSION AND ANALYSIS OFFINANCIAL CONDITION AND RESULTS OF
OPERATIONS
STOCK EXCHANGE CODE:
1
YEAR:QUARTER: 03 2008
CONSOLIDATED
Final Printing
WALMEX
WAL - MART DE MEXICO, S.A.B. DEC.V. PAGE 1/
NOTE: ALL AMOUNTS AND GROWTH FIGURES INCLUDED IN THIS REPORT ARE IN NOMINAL TERMS.
DURING THE JULY-SEPTEMBER 2008 PERIOD, WALMEX TOTAL SALES AMOUNTED TO $57,473MILLION PESOS, $5,329 MILLION PESOS MORE THAN LAST YEAR; THUS REPRESENTING A 10.2%INCREASE. COMP STORES SALES GREW 3.7% COMPARED TO SAME PERIOD LAST YEAR.
THE NUMBER OF CUSTOMERS SERVED DURING THE THIRD QUARTER INCREASED 10.7%, WHILEAVERAGE TICKET DECREASED 0.5%.
GROSS MARGIN WAS 22.0%, 20 BASIS POINTS HIGHER THAN IN 2007. IN MONETARY TERMS,GROSS PROFIT WAS 11% HIGHER THAN LAST YEAR.
GENERAL EXPENSES REPRESENTED 14.3% OF TOTAL REVENUE, 60 BASIS POINTS HIGHER THANIN 2007. THE 15% INCREASE VS LAST YEAR WAS ATTRIBUTED TO AN INCREASE IN ENERGYCOST, REMODELS AND BANCO WAL-MART.
OPERATING INCOME INCREASED 5%, THUS REPRESENTING 7.7% OF TOTAL REVENUES. EBITDAINCREASED 6% VS. LAST YEAR, REPRESENTING 9.5% OF TOTAL REVENUES.
NET CONSOLIDATED INCOME FOR THE QUARTER AMOUNTED TO $3,269 MILLION PESOS, 5.7% OFTOTAL REVENUES, AND A DECREASE OF 2% OVER LAST YEAR.
AS PART OF OUR EXPANSION PROGRAM FOR THE YEAR, DURING THE THIRD QUARTER WE OPENED38 UNITS: 3 BODEGA AURRERA, 5 MI BODEGAS AURRERA, 16 BODEGAS AURRERA EXPRESS, 6WAL-MART SUPERCENTERS, 1 SAM?S CLUB, 2 SUPERAMAS, AND 5 RESTAURANTS, FOR A TOTALOF 1,104 UNITS IN OPERATION. THE INCREASE IN INSTALLED CAPACITY FOR THE LAST 12MONTHS WAS 11%. WE ADDED STORES IN 22 NEW CITIES, FOR A TOTAL OF 194 CITIES WITHWALMEX PRESENCE NATIONWIDE.
AS OF SEPTEMBER 30, 2008, THE COMPANY?S CASH POSITION AMOUNTED TO $7,407 MILLIONPESOS, $228 MILLION PESOS MORE THAN SEPTEMBER LAST YEAR. DURING THE FIRST NINEMONTHS OF THE YEAR WE INVESTED $13,095 MILLION PESOS, INCLUDING $7,749 MILLIONPESOS IN FIXED ASSETS, $2,138 MILLION PESOS IN THE REPURCHASE OF 53.7 MILLIONSHARES, AND PAID A DIVIDEND OF $3,208 MILLION PESOS.
MEXICO CITY, OCTOBER 7, 2008
EDUARDO SOLORZANOPRESIDENT & CEO
MEXICAN STOCK EXCHANGE
FINANCIAL STATEMENT NOTES
STOCK EXCHANGE CODE: YEAR:QUARTER: 03 2008
CONSOLIDATED
Final Printing
WALMEX
WAL - MART DE MEXICO, S.A.B.DE C.V. PAGE 1 / 11
NOTE 1 - NEW MEXICAN FINANCIAL REPORTING STANDARDS
DURING 2007, THE MEXICAN FINANCIAL REPORTING STANDARDS RESEARCH AND DEVELOPMENTBOARD (CINIF) PUBLISHED FIVE NEW FINANCIAL REPORTING STANDARDS (MEX FRS) WHICH AREIN FORCE AS OF JANUARY 1ST, 2008.
MEX FRS B-10 EFFECTS OF INFLATION PROVIDES THE PARAMETERS FOR RECOGNIZING THEEFFECTS OF INFLATION IN TERMS OF ACCRUED INFLATION FOR THE LAST THREE YEARS.
ACCORDING TO ECONOMIC FORECAST FOR THE CURRENT YEAR, ACCRUED INFLATION FOR2006-2008 WILL NOT EXCEED 26%, AND THEREFORE THE ECONOMIC OUTLOOK IS CONSIDERED NON-INFLATIONARY; AS A RESULT, FINANCIAL INFORMATION FOR 2008 WILL BE PRESENTED INNOMINAL PESOS.
DURING MARCH 2008, CINIF ISSUED AN INTERPRETATION OF MEX FRS B-10, WHICH SPECIFIEDTHAT FOR COMPARISON PURPOSES, INTERMEDIATE AND ANNUAL FINANCIAL INFORMATION FOR2007 MUST BE RESTATED IN MEXICAN PESOS WITH PURCHASING POWER AT DECEMBER 31, 2007.SUCH INTERPRETATION IMPLIES THE NEED TO CONTINUE PARTIALLY RESTATING FOR THEPREVIOUS YEAR.
IN ORDER TO PROVIDE USERS DATA THEY CAN USE TO THE ASSESS THE OPERATING PERFORMANCEOF THE COMPANY, WHICH STEMS FROM THE FINANCIAL INFORMATION, THE FOLLOWING IS ASUMMARY OF FINANCIAL INFORMATION AT NOMINAL PESOS.
CONSOLIDATED STATEMENT OF INCOME
NINE-MONTH PERIOD ENDED SEPTEMBER 30, -----------------------------------------
% OF 2008 2007 GROWTH -------------- --------------- ------
NET SALES Ps.171,595,428 Ps. 152,865,312 12OTHER INCOME 652,999 582,268 12 -------------- --------------- ------TOTAL REVENUES 172,248,427 153,447,580 12 -------------- --------------- ------
GROSS PROFIT 37,030,209 32,905,254 13GENERAL EXPENSES ( 23,972,192) (20,915,590) 15 -------------- -------------- ------OPERATING INCOME 13,058,017 11,989,664 9OTHER EXPENSES - NET ( 90,491) ( 109,117) (17)COMPREHENSIVE FINANCING RESULT 578,327 972,010 (41) -------------- -------------- ------INCOME BEFORE INCOME TAX 13,545,853 12,852,557 5INCOME TAX ( 3,792,837) ( 3,598,716) 5 -------------- -------------- ------NET INCOME PS. 9,753,016 PS. 9,253,841 5 ============== ============== ======
MEXICAN STOCK EXCHANGE
FINANCIAL STATEMENT NOTES
STOCK EXCHANGE CODE: YEAR:QUARTER: 03 2008
CONSOLIDATED
Final Printing
WALMEX
WAL - MART DE MEXICO, S.A.B.DE C.V. PAGE 2 / 11
CONSOLIDATED BALANCES SHEETS
SEPTEMBER 30, 2008 2007 --------------- ---------------ASSETS
CASH Ps. 7,407,503 Ps. 7,179,247INVENTORIES 19,970,113 20,140,640OTHER CURRENT ASSETS 3,819,974 4,147,760PROPERTY AND EQUIPMENT - NET 76,504,845 67,799,824 --------------- ---------------TOTAL ASSETS Ps. 107,702,435 Ps. 99,267,471 =============== ===============
LIABILITIES AND SHAREHOLDERS' EQUITY
SUPPLIERS Ps. 22,526,013 Ps. 22,789,060OTHER LIABILITIES 15,137,120 14,836,947 --------------- ---------------TOTAL LIABILITIES 37,663,133 37,626,007
SHAREHOLDERS' EQUITY 70,039,302 61,641,464 --------------- ---------------TOTAL LIABILITIES AND SHAREHOLDERS'EQUITY Ps. 107,702,435 Ps. 99,267,471 =============== ===============
THE STANDARD MEX FRS B-2 CASH FLOW STATEMENT OVERRIDES THE STATEMENT OF CHANGES INFINANCIAL POSITION AND ESTABLISHES THE FILING OF CASH FLOW STATEMENTS AS A BASICFINANCIAL STATEMENT. FOR COMPARISON PURPOSES, THE STATEMENT OF CHANGES IN THEFINANCIAL POSITION AT SEPTEMBER 30, 2007 WAS ADAPTED TO THE STRUCTURE OF THE NEWFINANCIAL STATEMENT.
THE MEX FRS B-15 FOREIGN CURRENCY TRANSLATION, MEX FRS D-3 EMPLOYEE BENEFITS ANDMEX FRS D-4 INCOME TAXES, THERE NO HAVE MATERIAL EFFECT IN WAL-MART DE MEXICOS.A.B. DE C.V. AND SUBSIDIARIES (WALMEX OR THE COMPANY) FINANCIAL INFORMATION.
NOTE 2 - SIGNIFICANT ACCOUNTING POLICIES:
THE SIGNIFICANT ACCOUNTING POLICIES AND PRACTICES OBSERVED BY THE COMPANY IN THEPREPARATION OF THE CONSOLIDATED FINANCIAL STATEMENTS, IN CONFORMITY WITH MEX FRSARE DESCRIBED BELOW. MEX FRS ARE UNDERSTOOD TO ENCOMPASS THE NEW STANDARDS ISSUEDCINIF AND THE BULLETINS ISSUED BY THE ACCOUNTING PRINCIPLES BOARD OF THE MEXICANINSTITUTE OF PUBLIC ACCOUNTANTS THAT HAVE NOT BEEN MODIFIED, REPLACED OR ABOLISHEDBY MEX FRS AND THAT WERE TRANSFERRED TO THE CINIF. AS SUCH, ANY OF THE DOCUMENTSCOMPRISING MEX FRS WILL HEREINAFTER BE REFERRED TO BY THEIR ORIGINAL NAME ORRATHER, EITHER AS "MEX FRS" OR AS "ACCOUNTING BULLETIN", AS THE CASE MAY BE.
MEXICAN STOCK EXCHANGE
FINANCIAL STATEMENT NOTES
STOCK EXCHANGE CODE: YEAR:QUARTER: 03 2008
CONSOLIDATED
Final Printing
WALMEX
WAL - MART DE MEXICO, S.A.B.DE C.V. PAGE 3 / 11
A. THE ACCOMPANYING CONSOLIDATED FINANCIAL STATEMENTS INCLUDE THE STATEMENTS OFWALMEX AND THOSE OF ITS SUBSIDIARIES. ALL RELATED PARTY BALANCES AND TRANSACTIONSWERE ELIMINATED IN THE CONSOLIDATION.
B. BASED ON MEX FRS B-10 EFFECTS OF INFLATION, THE COMPANY PRESENTS ITS FINANCIALINFORMATION IN THOUSAND OF NOMINAL PESOS, IN ACCORDANCE WITH A NON-INFLATIONARYENVIRONMENT, AND BECAUSE ACCRUED INFLATION IN THE LAST 3 YEARS WAS OF 12.59%. THEFINANCIAL INFORMATION OF THE PREVIOUS YEAR IS PRESENTED IN THOUSAND OF CONSTANTPESOS AT DECEMBER 2007, APPLYING 1.52% FOR INFLATION. THE BALANCE OF RESULT FROMHOLDIHG NOM-MONETARY ASSETS AT DECEMBER 31, 2007 IS RECLASSIFIED TO RETAINEDEARNINGS CAPTION.
C. IN ORDER TO PROVIDE A BETTER UNDERSTANDING OF THE COMPANY'S BUSINESSPERFORMANCE, THE CONSOLIDATED STATEMENTS OF INCOME WERE PREPARED ON A FUNCTIONALBASIS, WHICH ALLOWS FOR THE DISCLOSURE OF THE COST OF SALES SEPARATELY FROM OTHERCOSTS AND EXPENSES AND OF OPERATING INCOME AS WELL, AS ESTABLISHED UNDER MEX FRS B-3, STATEMENTS OF INCOME.
D. THE BANK'S FINANCIAL STATEMENTS, WHICH ARE INCLUDED IN THE COMPANY'SCONSOLIDATED FINANCIAL STATEMENTS, WERE PREPARED BASED BOTH ON THE ACCOUNTINGCRITERIA ESTABLISHED BY MEXICAN NATIONAL BANKING AND SECURITIES COMMISSION (CNBV),AS ISSUED AS PART OF THE GENERAL PROVISIONS FOR CREDIT INSTITUTIONS, AND ON THE MEXFRS ISSUED BY THE CINIF. AT DATE, THERE ARE NO DIFFERENCES BETWEEN THESE TWO SETSOF STANDARDS.
E. THE PREPARATION OF FINANCIAL STATEMENTS IN CONFORMITY WITH THE MEX FRS REQUIRESTHE USE OF ESTIMATES IN SOME ITEMS. ACTUAL RESULTS MIGHT DIFFER FROM THESEESTIMATES.
F. CASH AND CASH EQUIVALENTS CONSIST BASICALLY OF BANK DEPOSITS AND HIGHLY LIQUIDINVESTMENTS. THESE INVESTMENTS ARE STATED AT COST PLUS ACCRUED INTEREST, SIMILAR TOMARKET VALUE.
THE COMPANY HAS NO FINANCIAL INSTRUMENTS (DERIVATIVES).
G. THE BALANCE IN THE BANK'S RECEIVABLES PORTFOLIO IS REPRESENTED BY AMOUNTSACTUALLY GIVEN TO BORROWERS, PLUS UNCOLLECTED EARNED INTEREST. THE PREVENTIVEALLOWANCE FOR CREDIT RISKS IS PRESENTED NET OF THE PORTFOLIO BALANCES.
H. WALMEX RECOGNIZES BAD DEBT RESERVES AT THE TIME THE LEGAL COLLECTION PROCESSBEGINS IN CONFORMITY WITH ITS INTERNAL PROCEDURES.
I. INVENTORIES ARE STATED AT AVERAGE COST, DETERMINED LARGELY USING THE RETAILMETHOD. DUE TO THE RAPID TURNOVER OF INVENTORIES, THE COST SO DETERMINED ISCONSIDERED TO BE SIMILAR TO REPLACEMENT COST AT THE BALANCE SHEET DATE, NOT INEXCESS OF MARKET VALUE.
THE BUYING ALLOWANCES ARE CHARGED TO OPERATIONS BASED ON THE TURNOVER OFINVENTORIES THAT GAVE RISE TO THEM.
J. PROPERTY AND EQUIPMENT IS RECORDED WITH ITS ACQUISITION COST.
FIXED ASSET DEPRECIATION IS COMPUTED USING THE STRAIGHT-LINE METHOD, AT ANNUALRATES RANGING FROM 3% TO 33%.
MEXICAN STOCK EXCHANGE
FINANCIAL STATEMENT NOTES
STOCK EXCHANGE CODE: YEAR:QUARTER: 03 2008
CONSOLIDATED
Final Printing
WALMEX
WAL - MART DE MEXICO, S.A.B.DE C.V. PAGE 4 / 11
K. THE COMPANY CLASSIFIES ITS OPERATING AND CAPITAL LEASES FOR THE RENTAL OFPROPERTY FOLLOWING THE GUIDELINES ESTABLISHED IN ACCOUNTING BULLETIN D-5 LEASES.
L. IN CONFORMITY WITH ACCOUNTING BULLETIN C-15, THE COMPANY DETERMINES IMPAIRMENTIN THE VALUE OF ITS LONG-LIVED ASSETS USING THE PRESENT VALUE METHOD, CONSIDERINGEACH OF THE COMPANY'S STORES OR RESTAURANTS AS A MINIMUM CASH GENERATING UNIT TODETERMINE THE VALUE IN USE OF ITS LONG-LIVED ASSETS.
M. FOREIGN CURRENCY DENOMINATED MONETARY ASSETS AND LIABILITIES ARE TRANSLATED TOMEXICAN PESOS AT THE PREVAILING EXCHANGE RATE AS OF THE BALANCE SHEET DATE.EXCHANGE DIFFERENCES DETERMINED ARE CHARGED OR CREDITED TO INCOME IN CONFORMITYWITH ACCOUNTING MEX FRS B-15, FOREIGN EXCHANGE CONVERSION.
N. LIABILITIES FOR TRADITIONAL DEPOSITS OF THE BANK ARE COMPRISED OF DEMANDDEPOSITS IN DEBIT CARD ACCOUNTS. THESE LIABILITIES ARE RECORDED AT EITHER DEPOSITCOST, PLUS ACCRUED INTEREST.
O. LIABILITY PROVISIONS ARE RECOGNIZED WHENEVER THE COMPANY HAS CURRENT OBLIGATIONSDERIVED FROM PAST EVENTS THAT CAN BE REASONABLY ESTIMATED AND THAT WILL MOST LIKELYGIVE RISE TO A FUTURE CASH DISBURSEMENT FOR THEIR SETTLEMENT.
P. DEFERRED INCOME TAX IS DETERMINED USING THE ASSET AND LIABILITY METHOD. UNDERTHIS METHOD, DEFERRED INCOME TAX IS RECOGNIZED ON ALL TEMPORARY DIFFERENCES INBALANCE SHEET ACCOUNTS FOR FINANCIAL AND TAX REPORTING PURPOSES, USING THE ENACTEDINCOME TAX RATE THAT WILL BE IN EFFECT AT THE TIME THE TEMPORARY DIFFERENCES GIVINGRISE TO DEFERRED TAX ASSETS AND LIABILITIES ARE EXPECTED TO BE RECOVERED ORSETTLED, IN CONFORMITY WITH ACCOUNTING MEX FRS D-4 INCOME TAXES.
Q. SENIORITY PREMIUMS ACCRUING TO EMPLOYEES UNDER THE MEXICAN LABOR LAW ANDTERMINATION PAYMENTS MADE AT THE END OF EMPLOYMENT, EXCEPT WHEN RESULTING FROMCORPORATE RESTRUCTURING, ARE RECOGNIZED AS A COST OF THE YEARS IN WHICH SERVICESARE RENDERED, BASED ON ACTUARIAL COMPUTATIONS MADE BY AN INDEPENDENT EXPERT, USINGTHE PROJECTED UNIT-CREDIT METHOD, IN CONFORMITY WITH ACCOUNTING MEX FRS D-3EMPLOYEE BENEFITS.
ALL OTHER PAYMENTS ACCRUING TO EMPLOYEES OR THEIR BENEFICIARIES IN THE EVENT OFSEPARATION OR DEATH, IN TERMS OF THE MEXICAN LABOR LAW, ARE EXPENSED AS INCURRED.
EMPLOYEE PROFIT SHARING IS RECOGNIZED TO RESULTS IN THE "OTHER INCOME AND (EXPENSE)- NET" LINE ITEM AND REPRESENTS DEMANDED LIABILITY IN A TERM OF LESS THAN A YEAR,IN ACCORDANCE WITH MEX FRS D-3.
R. IN CONFORMITY WITH THE MEXICAN CORPORATIONS ACT, THE COMPANY IS REQUIRED TOAPPROPRIATE AT LEAST 5% OF THE NET INCOME OF EACH YEAR TO INCREASE THE LEGALRESERVE. THIS PRACTICE MUST BE CONTINUED UNTIL THE LEGAL RESERVE REACHES 20% OFCAPITAL STOCK.
S. THE EMPLOYEE STOCK OPTION PLAN FUND IS COMPRISED OF WALMEX SHARES PRESENTED ATACQUISITION COST. THE PLAN IS DESIGNED TO GRANT STOCK OPTIONS TO EXECUTIVES OF THECOMPANIES IN THE GROUP, AS APPROVED BY CNBV.
MEXICAN STOCK EXCHANGE
FINANCIAL STATEMENT NOTES
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T. THE PREMIUM ON THE SALE OF SHARES REPRESENTS THE DIFFERENCE BETWEEN THE COST OFTHE SHARES, RESTATED BASED ON THE NCPI UNTIL DECEMBER 31, 2007, AND THE VALUE ATWHICH SUCH SHARES WERE ASSIGNED TO EXECUTIVES OF COMPANIES IN THE GROUP, NET OF THECORRESPONDING INCOME TAX.
U. SALES REVENUES ARE RECOGNIZED AT THE TIME CUSTOMER TAKES POSSESSION OF THEPRODUCTS, IN CONFORMITY WITH INTERNATIONAL ACCOUNTING STANDARDS NO. 18, ISSUED BYTHE INTERNATIONAL ACCOUNTING STANDARDS BOARD, APPLIED ON A SUPPLETORY BASIS.
SAM'S CLUB MEMBERSHIP REVENUES ARE DEFERRED OVER THE TWELVE-MONTH TERM OF THEMEMBERSHIP, IN CONFORMITY WITH THE REQUIREMENTS OF STAFF ACCOUNTINGBULLETIN NO. 104, REVENUE RECOGNITION IN FINANCIAL STATEMENTS, ISSUED BY THE U.S.SECURITIES AND EXCHANGE COMMISSION, APPLIED ON A SUPPLETORY BASIS. SUCH REVENUESARE PRESENTED IN NET SALES LIKE OTHER INCOME IN THE STATEMENT OF INCOME.
THE BANK'S INTEREST INCOME IS RECOGNIZED IN NET SALES LIKE OTHER INCOME IN THESTATEMENT OF INCOME.
V. SEGMENT FINANCIAL INFORMATION HAS BEEN PREPARED USING THE MANAGEMENT APPROACHESTABLISHED IN ACCOUNTING BULLETIN B-5.
NOTE 3 - ACCOUNTS AND NOTES RECEIVABLE (NET) AND OTHER ACCOUNTS AND NOTESRECEIVABLE (NET):
THE BALANCE OF THESE ACCOUNTS AT SEPTEMBER 30, 2008 IS PRESENTED NET OF ANALLOWANCE FOR BAD DEBTS OF PS. $244,620.
OTHER ACCOUNTS AND NOTES RECEIVABLE INCLUDE RECOVERABLE TAXES FORPS. 2,170,320.
MEXICAN STOCK EXCHANGE
FINANCIAL STATEMENT NOTES
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NOTE 4 - PROPERTY, PLANT AND EQUIPMENT (NET):
AS OF ANALYSIS SEPTEMBER 30, 2008, AN ANALYSIS OF PROPERTY AND EQUIPMENT IS ASFOLLOWS:
AMOUNT --------------LAND Ps. 22,705,439BUILDINGS, FACILITIES AND LEASEHOLD IMPROVEMENTS 46,464,947PROPERTY UNDER CAPITAL LEASE 4,051,280 --------------TOTAL PROPERTY 73,221,666 --------------FIXTURES AND EQUIPMENT:OWN 27,010,046UNDER CAPITAL LEASE 831,057 --------------TOTAL FIXTURE AND EQUIPMENT 27,841,103 --------------
ACCUMULATED DEPRECIATION ( 27,631,370)CONSTRUCTION IN PROGRESS 3,073,446 --------------
PROPERTY AND EQUIPMENT - NET Ps. 76,504,845 ==============
NOTE 5 - STOCK MARKET CREDITS:
NON APPLY
NOTE 6 - CONTINGENT LIABILITY AND COMMITMENTS:
AT SEPTEMBER 30, 2008, THERE ARE NOT CONTINGENT LIABILITIES.
AT SEPTEMBER 30, 2008, THE COMPANY ENTERED INTO COMMITMENTS FOR THE PURCHASE OFINVENTORY, PROPERTY AND EQUIPMENT AND MAINTENANCE SERVICES FOR PS. 8,098,698.
NOTE 7 - LEASES:
THE COMPANY HAS ENTERED INTO OPERATING LEASES WITH THIRD PARTIES FOR COMPULSORYTERMS RANGING FROM 2 TO 15 YEARS. RENT PAID UNDER CAPITAL LEASES MAY EITHER BEFIXED OR VARIABLE, DETERMINED BASED ON A PERCENTAGE OF SALES.
THE COMPANY HAS ENTERED INTO CAPITAL LEASES FOR THE RENTAL OF REAL ESTATE. SUCHLEASES ARE RECORDED AT THE LESSER OF EITHER THE PRESENT VALUE OF MINIMUM RENTALPAYMENTS OR THE MARKET VALUE OF THE PROPERTY UNDER LEASE AND ARE AMORTIZED OVER THEUSEFUL LIFE OF EACH PROPERTY (UP TO 33 YEARS).
THE COMPANY HAS ALSO ENTERED INTO CAPITAL LEASES FOR THE RENTAL OF RESIDUAL WATERTREATMENT PLANTS USED TO MEET ENVIRONMENTAL PROTECTION STANDARDS. THE TERM OFPAYMENT RANGES FROM 4 YEARS TO 10 YEARS.
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FUTURE RENTAL PAYMENTS ARE AS FOLLOWS:
OPERATING LEASE CAPITAL LEASETWELVE-MONTH PERIOD (COMPULSORY TERM) (MINIMUM PAYMENTS)------------------- --------------- ----------------OCTOBER 2008 - SEPTEMBER 2009 Ps. 163,435 PS. 216,074OCTOBER 2009 - SEPTEMBER 2010 Ps. 134,073 PS. 192,643OCTOBER 2010 - SEPTEMBER 2011 Ps. 120,960 Ps. 196,831OCTOBER 2011 - SEPTEMBER 2012 Ps. 113,531 Ps. 205,895OCTOBER 2012 - SEPTEMBER 2013 Ps. 112,298 Ps. 195,905OCTOBER 2013 - AND THEREAFTER Ps. 412,327 Ps.2,435,643
THE TOTAL AMOUNT OF OPERATING LEASES CHARGED TO RESULTS OF OPERATIONS FOR THE NINE-MONTH ENDED ON PERIOD SEPTEMBER 30, 2008 WAS PS. 1,281,704.
NOTE 8 - INCOME TAX:
THE COMPANY AND ITS SUBSIDIARIES, EXCEPT FOR THE BANK, HAVE BEEN AUTHORIZED BY THEMINISTRY OF FINANCE AND PUBLIC CREDIT TO DETERMINE THEIR TAX RESULTS ON ACONSOLIDATED BASIS.
AN ANALYSIS OF TAXES CHARGED TO RESULTS OF OPERATIONS FOR THE NINE-MONTH PERIODENDED ON SEPTEMBER 30, 2008 IS AS FOLLOWS:
AMOUNT -------------CURRENT YEAR INCOME TAX Ps. 4,517,649DEFERRED INCOME TAX ( 724,812) -------------TOTAL Ps. 3,792,837 =============
AN ANALYSIS OF DEFERRED TAX LIABILITIES (ASSETS) DERIVED FROM TEMPORARY DIFFERENCESIS AS FOLLOWS:
AMOUNT -------------PROPERTY AND EQUIPMENT Ps. 5,493,446INVENTORIES 781,310OTHER ITEMS - NET (1,301,676) -------------TOTAL Ps. 4,973,080 =============
EFFECTIVE TAX RATE IS SIMILAR TO THE 28% RATE MENTIONED IN THE INCOME TAX LAW.
ON OCTOBER 1ST, 2008 THE NEW SINGLE RATE BUSINESS TAX (IETU LAW) WAS PUBLISHED INTHE OFFICIAL GAZETTE. THE NEW LAW CAME INTO FORCE AS OF JANUARY 1ST, 2008 ANDANNULLED THE ASSET TAX LAW.
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BASED ON ITS TAX FORECAST, THE COMPANY WILL CONTINUE GENERATING INCOME TAX INSUBSEQUENT YEARS.
THE COMPANY'S 2008 INCOME TAX INCLUDES THE PARTIAL TAXATION OF THE INVENTORY HELDAT DECEMBER 31, 2004, SINCE THE COMPANY OPTED TO CONSIDER AS TAXABLE SUCHINVENTORIES OVER A NUMBER OF YEARS, SO AS TO DEDUCT COST OF SALES. THE LAST YEAR OFTAXATION OF THE INVENTORIES WILL BE 2012.
AT SEPTEMBER 30, 2008, THE BANK HAS TAX LOSSES OF PS. 245,050 WHICH, IN CONFORMITYWITH THE CURRENT MEXICAN INCOME TAX LAW, MAY BE CARRIED FORWARD AGAINST TAXABLEEARNINGS GENERATED THROUGH 2017.
AS A RESULT OF RELATED CHANGES TO MEXICAN TAX LAW, THE COMPANY'S RECOVERABLE ASSETTAX AT SEPTEMBER 30, 2008 MAY BE RECOVERED THROUGH 2017.
NOTE 9 - LABOR OBLIGATIONS:
THE COMPANY HAS SET UP A DEFINED BENEFITS TRUST FUND TO COVER SENIORITY PREMIUMSACCRUING TO EMPLOYEES TO WHICH WORKERS MAKE NO CONTRIBUTIONS, ALSO RECOGNIZES THELIABILITY FOR EMPLOYEE TERMINATION PAYMENTS. BOTH THESE OBLIGATION ARE COMPUTEDUSING THE PROJECTED UNIT CREDIT METHOD.
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NOTE 10 - SHAREHOLDERS' EQUITY:
AN ANALYSIS OF NOMINAL VALUE AND RESTATEMENT OF ITEMS THAN INTEGRATE THESHAREHOLDERS' EQUITY IS AS FOLOWS:
NOMINAL VALUE RESTATEMENT TOTAL --------------- --------------- ---------------
CAPITAL STOCK PS. 14,507,683 PS. 9,145,252 PS. 23,652,935 =============== ============== ===============
SHARES PLAN FUND PS.( 3,310,190) PS.( 288,277) PS.( 3,598,467)PREMIUM ON SALE OF SHARES 816,558 1,461,873 2,278,431 --------------- -------------- ----------------PREMIUM ON SALE OF SHARES PS.( 2,493,632) PS. 1,173,596 PS.( 1,320,036) =============== ============== ===============
LEGAL RESERVE PS. 2,648,426 PS. 1,772,622 PS. 4,421,048RETAINED EARNINGS 36,822,124 ( 3,289,785) 33,532,339NET INCOME FOR THE YEAR 9,753,016 - 9,753,016 --------------- -------------- ----------------RETAINED EARNINGS ANDCAPITAL RESERVES PS. 49,223,566 PS.( 1,517,163) PS. 47,706,403 =============== ============== ===============
THE RETAINED EARNINGS, IN RESTATEMENT'S COLUMN INCLUDES THE RECLASIFICATION OF THERESULT FROM HOLDING NOM-MONETARY ASSETS (Ps. 12,515,273).
DURING THE NINE-MONTH PERIOD ENDED ON SEPTEMBER 30, 2008, WALMEX REPURCHASED53,688,400 OF ITS OWN SHARES, OF WHICH 12,963,400 WERE CANCELED AS PER THERESOLUTION ADOPTED AT THE SHAREHOLDERS' MEETING OF MARCH 12, 2008. AS A RESULT OFTHE SHARE REPURCHASES, HISTORICAL CAPITAL STOCK WAS REDUCED BY PS. 88,056. THEDIFFERENCE BETWEEN THE THEORETICAL RESTATED VALUE AND THE REPURCHASE COST OF THESHARES ACQUIRED WAS APPLIED AGAINST RETAINED EARNINGS.
THE EMPLOYEE STOCK OPTION PLAN FUND CONSISTS OF 137,660,722 WALMEX SHARES, OF WHICH129,007,838 SHARES HAVE BEEN PLACED IN A TRUST CREATED FOR SUCH PURPOSE. ALLEMPLOYEE STOCK OPTIONS ARE GRANTED TO EXECUTIVES OF SUBSIDIARY COMPANIES AT A VALUETHAT IS NOT LESS THAN THE MARKET VALUE ON THE DATE OF GRANT.
THE COMPENSATION DERIVED FROM STOCK OPTION OF SHARES IS DETERMINED USING THE BLACK-SCHOLES FINANCIAL VALUATION TECHNIQUE, ACCORDING TO MARKET CONDITIONS AT THE GRANTDATE, IN CONFORMITY WITH THE GUIDELINES OF INTERNATIONAL FINANCIAL REPORTINGSTANDARDS 2, ISSUED BY THE INTERNATIONAL ACCOUNTING STANDARDS BOARD, APPLIED ON ASUPPLEMENTARY BASIS. THE AMOUNT CHARGED TO RESULTS OF OPERATIONS FOR THIS ITEMAGGREGATES PS. 67,796 IN 2008, WHICH REPRESENTS NO FUNDS DISBURSEMENT.
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THE AGREEMENTS ADOPTED AND AMOUNTS APPROVED AT GENERAL SHAREHOLDERS' MEETINGS HELDON MARCH 12, 2008 ARE AS FOLLOWS:
1. APPROVAL OF THE MAXIMUM AMOUNT THE COMPANY WILL USE TO REPURCHASE ITS OWN SHARESOF Ps. 8,000,000.
2. CANCELLATION OF 152,018,400 SERIES "V" SHARES FROM THE REPURCHASE OF SHARES.
3. INCREASE IN THE LEGAL RESERVE OF Ps. 352,135 THROUGH A CHARGE TO RETAINEDEARNINGS.
4. A DECLARED DIVIDEND, FOR WHICH SHAREHOLDERS MAY RECEIVE PAYMENT EITHER IN CASHAT Ps. 0.59 PESOS PER SHARE OR IN COMPANY SHARES AT AN EXCHANGE FACTOR DETERMINEDBASED ON BOTH THE CLOSING MARKET PRICE OF THE COMPANY'S SHARES ON APRIL 2, 2008 ANDTHE Ps. 0.59 PESOS PER SHARE. SUCH DIVIDEND WAS PAID ON APRIL 18, 2008.
5. INCREASE IN THE VARIABLE PORTION OF CAPITAL STOCK FOR UP TO Ps. 4,991,590;SUCH INCREASE WILL BE COVERED BY ISSUING A MAXIMUM 178,271,066 COMMON ORDINARYSHARES TO BE USED SOLELY FOR PAYMENT OF THE STOCK DIVIDEND.
THOSE SHARES THAT ARE NOT SUBSCRIBED AND DELIVERED TO THE SHAREHOLDERS SHALL BECANCELED AND THE PROPOSED CAPITAL INCREASE SHALL BE REDUCED PROPORTIONALLY.
THE SHAREHOLDERS' DEADLINE FOR DECIDING ON WHETHER TO ACCEPT THE CASH DIVIDEND ORTHE STOCK DIVIDEND IN TERMS OF THE RESOLUTION ADOPTED AT THE SHAREHOLDERS' MEETINGHELD ON MARCH 12, 2008 EXPIRED ON APRIL 15, 2008. THE COMPANY DELIVERED 37,228,737NEW SERIES "V" SHARES REPRESENTING AN INCREASE OF PS. 1,693,908, AND CANCELED141,042,329 UNSUBSCRIBED SHARES. THIS SITUATION GAVE RISE TO A DECREASE IN CAPITALSTOCK OF Ps. 3,297,682.
BASED ON THE PRECEDING PARAGRAPH AND PER ARTICLE 112 OF THE MEXICAN CORPOATIONS ACTTHAT ESTABLISHES THAT ALL OF AN ENTITY'S SHARES MUST HAVE THE SAME THEORETICALVALUE, THE CAMPANY RECOMPUTED ITS CAPITAL STOCK BY DETERMINING A FIXED AMOUNT OFPs. 1,844,173.
NOTE 11 - SEGMENT INFORMATION:
THE COMPANY'S SEGMENT INFORMATION WAS PREPARED BASED ON A MANAGERIAL APPROACH ANDTHE CRITERIA ESTABLISHED IN ACCOUNTING BULLETIN B-5. THE "OTHERS" SEGMENT CONSISTSOF DEPARTMENT STORES, RESTAURANTS, REAL ESTATE TRANSACTIONS WITH THIRD PARTIES ANDFINANCIAL SERVICES.
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AN ANALYSIS OF SEGMENT INFORMATION FOR THE NINE-MONTH PERIOD ENDED ONSEPTEMBER 30, 2008 IS AS FOLLOWS:
INCOME (LOSS) AFTER SEGMENT NET SALES GENERAL EXPENSES------------ --------------------------- ----------------------------
SELF SERVICE Ps.162,267,970 Ps. 12,128,995OTHER 9,980,457 929,022 -------------- ---------------CONSOLIDATED Ps.172,248,427 Ps. 13,058,017 ============== ===============
THE COMPANY OPERATES IN MEXICO AND MAKES SALES TO THE GENERAL PUBLIC.
NOTE 12 - APPROVAL OF FINANCIAL STATEMENTS:
THE ACCOMPANYING FINANCIAL STATEMENTS AND THESE NOTES FOR THE NINE-MONTH PERIODENDED ON SEPTEMBER 30, 2008, WERE APPROVED BY THE COMPANY'S BOARD DIRECTORS AT AMEETING HELD ON OCTOBER 7, 2008.
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ANALYSIS OF INVESTMENTS IN SHARES
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SUBSIDIARIES
WAL - MART DE MEXICO, S.A.B. DE C.V.
COMPANY NAME MAIN ACTIVITIES NUMBER OF SHARES % OWNERSHIP
GEN MERCHANDISE SALESNUEVA WAL-MART 99.99881,712
DEPARTMENT STORESSUBURBIA 99.99274,923
RESTAURANTSVIPS 99.99439,022
PROFESIONAL OUTSOURCECORPORATE ENTITIES 99.99553,638
REAL ESTATE PROJECTSREAL ESTATE 99.9923,706,432
RENDERING OR FULL-SERVICEBANKINGBANCO WAL-MART 99.99798,738
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ANALYSIS OF INVESTMENTS IN SHARES
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ASSOCIATES
WAL - MART DE MEXICO, S.A.B. DE C.V.
COMPANY NAME MAIN ACTIVITIESACQUISITION
COST BOOK VALUE
TOTAL AMOUNT (Thousands ofMexican Pesos)%
OWNERSHIP
NUMBER OF SHARES
000.000
TOTAL 0
OTHER PERMANENT INVESTMENTS
TOTAL INVESTMENT IN ASSOCIATES 00
0
THE COLUMN NUMBER OF SHARES IS EXPRESSED IN THOUSANDS AND CORRESPONDING TO THESOCIAL PART AND SHARES THAT WAL-MART DE MEXICO, S.A.B. DE C.V. HAS OF THESUBSIDIARIES; WHICH MAJORITY ARE SOCIEDAD DE RESPONSABILIDAD LIMITADA DECAPITAL VARIABLE
NOTES
WAL - MART DE MEXICO, S.A.B. DE C.V.
MEXICAN STOCK EXCHANGE
CREDITS BREAK DOWN
STOCK EXCHANGE CODE:
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(Mexican Pesos)
YEAR:QUARTER: 03 2008
UNTIL 5 YEARUNTIL 4 YEARUNTIL 3 YEARUNTIL 2 YEARUNTIL 1 YEAR
AMORTIZATION OF CREDITS IN FOREIGN CURRENCY (THOUSANDS OF $)
TIME INTERVAL
CURRENT YEARUNTIL 5 YEARUNTIL 4 YEARUNTIL 3 YEARUNTIL 2 YEARUNTIL 1 YEARCURRENT YEAR
AMORTIZATION OF CREDITS IN FOREIGN CURRENCY (THOUSANDS OF $)
TIME INTERVALINTEREST RATEDATE OFCONTRACTCREDIT TYPE / INSTITUTION AMORTIZATION
DATEWITH FOREINGINSTITUTION [1]
0 0 0 0 0 0NOT APPLIED
FOREIGN TRADE
BANKS
0 0 0 0 0 0NOT
SECURED
0 0 0 0 0 0NOT APPLIED
0 0 0 0 0 0NOT
COMMERCIAL BANKS
0 0 0 0 0 0NOT APPLIED
0 0 0 0 0 0NOT
OTHER
0 0 0 0 0 0NOT APPLIED
0 0 0 0 0 0NOT
TOTAL BANKS 0 0 0 0 0 0 0 0 0 0 0 0
WAL - MART DE MEXICO, S.A.B. DE C.V.
MEXICAN STOCK EXCHANGE
CREDITS BREAK DOWN
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(Mexican Pesos)
CREDIT TYPE / INSTITUTION AMORTIZATIONDATE INTEREST RATE
CURRENT YEAR UNTIL 1 YEAR UNTIL 2 YEAR UNTIL 3 YEAR UNTIL 4 YEAR UNTIL 5 YEAR CURRENT YEAR UNTIL 1 YEAR UNTIL 2 YEAR UNTIL 3 YEAR UNTIL 4 YEAR UNTIL 5 YEAR
TIME INTERVAL
AMORTIZATION OF CREDITS IN FOREIGN CURRENCY (THOUSANDS OF $)
TIME INTERVAL
AMORTIZATION OF CREDITS IN FOREIGN CURRENCY (THOUSANDS OF $)
WITH FOREINGINSTITUTION [1]
DATE OFCONTRACT
UNSECURED
0 0 0 0 0 0NOT APPLIED
LISTED STOCK EXCHANGE
STOCK MARKET
0 0 0 0 0 0NOT
SECURED
0 0 0 0 0 0NOT APPLIED
0 0 0 0 0 0NOT
UNSECURED
0 0 0 0 0 0NOT APPLIED
PRIVATE PLACEMENTS
0 0 0 0 0 0NOT
SECURED
0 0 0 0 0 0NOT APPLIED
0 0 0 0 0 0NOT
TOTAL BANKS 0 0 0 0 0 0 0 0 0 0 0 0
MEXICAN STOCK EXCHANGE
CREDITS BREAK DOWN
STOCK EXCHANGE CODE: YEAR:QUARTER: 03 2008
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(Mexican Pesos)
WAL - MART DE MEXICO, S.A.B. DE C.V.
UNTIL 5 YEARUNTIL 4 YEARUNTIL 3 YEARUNTIL 2 YEARUNTIL 1 YEAR
AMORTIZATION OF CREDITS IN FOREIGN CURRENCY (THOUSANDS OF $)
TIME INTERVAL
CURRENT YEARUNTIL 5 YEARUNTIL 4 YEARUNTIL 3 YEARUNTIL 2 YEARUNTIL 1 YEARCURRENT YEAR
TIME INTERVAL
AMORTIZATION OF CREDITS IN FOREIGN CURRENCY (THOUSANDS OF $)
AMORTIZATIONDATECREDIT TYPE / INSTITUTION WITH FOREING
INSTITUTION [1]DATE OF
AGREEMENT
SUPPLIERS
SELF-SERVICE STORE 0 19,424,907 0 0 0 0NOT APPLIED
DEPARTMENT STORE 0 580,157 0 0 0 0NOT APPLIED
RESTAURANTS 0 128,708 0 0 0 0NOT APPLIED
SELF-SERVICE STORE 0 2,185,565 0 0 0 0NOT
DEPARTMENT STORE 0 202,159 0 0 0 0NOT
RESTAURANTS 0 4,517 0 0 0 0NOT
TOTAL SUPPLIERS 0 20,133,772 0 0 0 0 0 2,392,241 0 0 0 0
OTHER LOANS WITH COST (S103 YS30)
OTHER CURRENT LIAB. W/COST 0 216,074 192,643 196,831 205,895 2,631,548NOT APPLIED
OTHER CURRENT LIAB. W/COST 0 0 0 0 0 0NOT
TOTAL 0 26,344,193 192,643 196,831 205,895 2,631,548 0 2,691,298 0 0 0 0
OTHER CURRENT LIABILITIESWITHOUT COST (S26)
OTHER CURRENT LIAB. W/O COST 0 5,994,347NOT APPLIED
OTHER CURRENT LIAB. W/O COST 0 299,057
TOTAL 0 216,074 192,643 196,831 205,895 2,631,548 0 0 0 0 0 0
TOTAL 0 5,994,347 0 0 0 0 0 299,057 0 0 0 0
MEXICAN STOCK EXCHANGESTOCK EXCHANGE CODE:
MONETARY FOREIGN CURRENCY POSITION
(Mexican Pesos)
YEAR:QUARTER: 03 2008
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WALMEXWAL - MART DE MEXICO, S.A.B. DE C.V.
OTHER CURRENCIES (1)
MONETARY ASSETS
LIABILITIES POSITION
SHORT-TERM LIABILITIES POSITION
NET BALANCE
LONG-TERM LIABILITIES POSITION
FOREIGN CURRENCY POSITIONTHOUSANDS OF
DOLLARSTHOUSANDS OF
PESOSTHOUSANDS OF
DOLLARS
38,657
246,142
0 0
246,142 2,691,298 0 0
422,674
2,691,298
2,691,298
0
-2,268,624-207,485 0 0 -2,268,624
DOLLARS (1)
422,674 0 0
0 0
2,691,298 0 0
THOUSANDS OFPESOS
TOTAL THOUSANDSOF PESOS
PS. 10.9339 RATE OF EXCHANGE AMERICAN DOLLAR.
NOTES
MEXICAN STOCK EXCHANGESTOCK EXCHANGE CODE:
RESULT FROM MONETARY POSITION
(Mexican Pesos)
YEAR:QUARTER: 03 2008
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WAL - MART DE MEXICO, S.A.B. DE C.V.
MONTH MONETARYASSETS
MONETARYLIABILITIES
(ASSET) LIABILITYMONETARYPOSITION
MONTHLYINFLATION
MONTHLY PROFITAND (LOSS)
0 0 0 0.00 0JANUARY
0 0 0 0.00 0FEBRUARY
0 0 0 0.00 0MARCH
MEXICAN STOCK EXCHANGE
DEBT INSTRUMENTS
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WAL - MART DE MEXICO, S.A.B. DE C.V.PAGE 1 / 2
NON APPLY
FINANCIAL LIMITED BASED IN ISSUED DEED AND/OR TITLE
MEXICAN STOCK EXCHANGE
DEBT INSTRUMENTS
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NON APPLY
ACTUAL SITUATION OF FINANCIAL LIMITED
MEXICAN STOCK EXCHANGE
PLANTS, COMMERCE CENTERS OR DISTRIBUTIONCENTERS
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WAL - MART DE MEXICO, S.A.B. DE C.V.
PLANT OR CENTER ECONOMIC ACTIVITY UTILIZATION(%)PLANT CAPACITY
GENERAL MERCHANDISE SALE,SELF-SERVICE DISCOUNT STORES 100.001,232,296
MEMBERSHIP GENERAL MERCHANDISESELF-SERVICE WHOLESALES 100.00650,145
GENERAL MERCHANDISE SALE,SELF-SERVICE HYPERMARKETS 100.001,207,495
GROCERIES SALES AND FRESHSUPERMARKETS 100.00108,664
APPAREL AND ACCESORY SALEAPPAREL STORES 100.00334,757
RESTAURANT-INTERNATIONAL, MEXICANRESTAURANTS 100.0083,277
RENDERING OF FULL-SERVICE BANKINGBANCO WAL-MART 100.001,569
THE INSTALLED CAPACIY OF THE REGARDING RESTAURANTS IS EXPRESED IN NUMBER OFSEATS.
NOTES
MEXICAN STOCK EXCHANGESTOCK EXCHANGE CODE:
MAIN RAW MATERIALS
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WAL - MART DE MEXICO, S.A.B. DE C.V.
DOMESTIC MAIN SUPPLIERS FOREIGN DOM.SUBST.
COSTPRODUCTION
(%)
NON APPLY 0
NOTES
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NET SALES/TOTAL SALES
WAL - MART DE MEXICO, S.A.B. DE C.V.
MAIN PRODUCTSVOLUME AMOUNT
NET SALESMARKET
SHARE (%)TRADEMARKS CUSTOMERS
MAIN
DOMESTIC SALES
NET SALES 171,595,428 0.000
OTHER INCOME 652,999 0.000
FOREIGN SALES
NON APPLY 0 0.000
TOTAL 172,248,427
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FOREIGN SALES
WAL - MART DE MEXICO, S.A.B. DE C.V.
EXPORT
MAIN PRODUCTSVOLUME AMOUNT
NET SALESDESTINATION
TRADEMARKS CUSTOMERS
MAIN
NON APPLY 00
FOREIGN SUBSIDIARIES
NON APPLY 00
TOTAL 0
NOTES
MEXICAN STOCK EXCHANGE
PROJECT, AMOUNT EXERCISED AND PROGRESSPERCENTAGE
STOCK EXCHANGE CODE: YEAR:QUARTER: 03 2008
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WAL - MART DE MEXICO, S.A.B. DE C.V.PAGE 1 / 1
OUR EXPANSION PROGRAM FOR THE FOLOWING THREE MONTHS INCLUDES THE OPENING OF 65UNITS, HAVING 47.7% PROGRESS THUS FAR. AS OF SEPTEMBER 30, 2008 PS. 4,372,354HAVE USED FOR THESE UNITS.
WAL - MART DE MEXICO, S.A.B. DE C.V.
MEXICAN STOCK EXCHANGE
INFORMATION RELATED TO BULLETIN B-15(FOREIGN CURRENCY TRANSLATION)
STOCK EXCHANGE CODE: YEAR:QUARTER: 03 2008
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PAGE 1 1/
FOREIGN CURRENCY BALANCES ARE TAKEN AT Ps. 10.9339 PESOS PER DOLLAR, AS SHOWNBELLOW:
THOUSAND THOUSAND OF DOLLAR OF PESOS ------------ -------------CURRENT ASSETS US$ 38,657 Ps. 422,674 ============ =============SUPPLIERS US$ 218,791 Ps. 2,392,241 ============ =============OTHER CURRENT LIABILITIES US$ 27,351 Ps. 299,057 ============ =============
DURING JUANUARY - SEPTEMBER 2008, THE COMPANY HAD AN EXCHANGE LOSS AMOUNTING TOPs. 27,876 DERIVED FROM EXCHANGE RATE FLUCTUATIONS.
WAL - MART DE MEXICO, S.A.B. DE C.V.
MEXICAN STOCK EXCHANGESTOCK EXCHANGE CODE:
ANALYSIS OF PAID CAPITAL STOCK
YEAR:QUARTER: 03 2008
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MEXICAN FREE SUBSCRIPTIONSERIES NOMINAL VALUE VALID
COUPONFIXED PORTION VARIABLE PORTION
NUMBER OF SHARES
FIXED VARIABLE
CAPITAL STOCK
0 8,456,825,523V 0.00000 47 1,075,006,074 7,381,819,449 1,844,173 12,663,510
TOTAL NUMBER OF SHARES REPRESENTING THE PAID IN CAPITALSTOCK ON THE DATE OF SENDING THE INFORMATION 8,456,825,523
1,075,006,074 7,381,819,449 0 8,456,825,523 1,844,173 12,663,510TOTAL
AS SEPTEMBER 30, 2008 SERIES "V" SHARES PRICE MARKET WAS Ps. 37.61
NOTES
MEXICAN STOCK EXCHANGE
NOTES TO FINANCIAL STATEMENTS
STOCK EXCHANGE CODE: YEAR:QUARTER 03 2008
CONSOLIDATED
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WALMEX
WAL - MART DE MEXICO, S.A.B. DE C.V.
S39: NOTE 1 - PREMIUM ON SALE OF SHARES---------------------------------------THE PREMIUM ON SALE OF SHARES LINE THAT APPEARS IN CONSOLIDATED BALANCE SHEETS INCLUDESTHE STOCK OPTION PLAN FUND FOR PERSONNEL DURING BOTH YEARS.
S58: NOTE 2 - OTHER CURRENT LIABILITIES---------------------------------------ACCORDING TO MEX FRS D-3 AND FOR COMPARISON PURPOSES, THE PREVIOUS YEAR AMOUNT OF SHORT-TERM LABOR OBLIGATIONS WAS RECLASIFIED TO OTHER CURRENT LIABILITIES.
S77: NOTE 3 - CHARACTERISTICS OF THE SHARES--------------------------------------------WAL-MART DE MEXICO SHARES ARE AT UNEXPRESSIVE NOMINAL VALUE.
S80: NOTE 4 - REPURCHASE OF SHARES----------------------------------FROM JANUARY 1° TO MARCH 11 THEY WERE REPURCHASED OF ITS OWN SHARES, BY AMOUNT OFPS. 700,857 WITH AFFECTATION TO THE AUTHORIZED AMOUNT IN 2008, IS A FOLLOWS:
UTNIL MARCH 11 --------------REPURCHASE OF SHARES REDUCEDCAPITAL STOCK Ps. ( 47,933)REPURCHASE OF SHARES REDUCEDOF RETAINED EARNINGS ( 652,924) --------------TOTAL Ps. ( 700,857) ==============
AFTER TO THE SHAREHOLDERS' MEETING HELD ON MARCH 12, 2008, THEY WERE REPURCHASED OF ITSOWN SHARES BY AN AMOUNT OF PS. 1,437,025, AFFECTING TO THE AUTHORIZED AMOUNT IN THISMEETING THE AVAILABLE BALNCE AS OF SEPTEMBER 30, 2008 IS AS FOLLOWS:
AFTER MARCH 12 --------------AUTHORIZED AMOUNT Ps. 8,000,000REPURCHASE OF SHARE REDUCEDOF CAPITAL STOCK Ps. ( 98,282)REPURCHASE OF SHARES REDUCEDOF RETAINED EARNINGS Ps. (1,338,743) --------------BALANCE AVAILABLE TO REPURCHASEOF SHARES Ps. 6,562,975 ==============
R01: NOTE 5 - MEMBERSHIP INCOME-------------------------------------THE EARNED INCOME IS PRESENTED UNDER A SPECIFIC HEADING AFTER NET SALES IN THE STATEMENTSOF INCOME. THE CURRENT EMISNET PAGE STATEMENT OF INCOME FORMAT, HOWEVER REQUIRES THAT ITIS PRESENTED UNDER THE HEADING OF NET SALES, SUCH AS IN SHOWN IN ANNEX SALES DISTIBUTIONBY PRODUCT.
(1) EN ESTE ANEXO SE INCLUYE LAS NOTAS CORRESPONDIENTES A LAS CIFRAS DE LOS ESTADOS FINANCIEROS BASICOS, ASI COMO SUSDESGLOSES Y OTROS CONCEPTOS
MEXICAN STOCK EXCHANGE
NOTES TO FINANCIAL STATEMENTS
STOCK EXCHANGE CODE: YEAR:QUARTER 03 2008
CONSOLIDATED
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WAL - MART DE MEXICO, S.A.B. DE C.V.
D09: NOTE 6 - DATA PER SHARE.----------------------------THE AMOUNT OF LAST YEAR CASH DIVIDEND ACUMULATED PER SHARE IS PRESENTED TO NOMINAL VALUE.
P02: NOTE 7 - RATIOS CONSOLIDATED---------------------------------SINCE THE EMISNET PAGE CANNOT RECORD RESULTS ON A TWELVE MONTH BASIS FOR ITEMS OF THESTATEMENT OF RESULTS AS WELL AS FOR THE FINANCIAL STATEMENT, THE CALCULATIONS ARE THUSINCLUDED ON THOSE BASES AND ARE AS FOLLOW:
QUARTER ------------------------REF CONCEPTS CURRENT PREVIOUS P --------------------------- ------- --------
YIELD-----
p02: NET CONSOLDATED INCOME TO STOCK HOLDERS EQUITY (**) 21.78% 23.02%p03: NET INCOME TO TOTAL ASSETS (**) 13.82% 14.35%
ACTIVITY--------p06: NET SALES TO NET ASSETS (**) 2.29 TIMES 2.25 TIMESp07: NET SALES TO PROPERTY, PLANT AND EQUIPMENT (NET) (**) 3.28 TIMES 3.37 TIMES
LEVERAGE--------p16: NET SALES TO TOTAL LIABILITIES (**) 6.25 TIMES 5.98 TIMES
(**) = INFORMATION REGARDING LAST TWELVE MONTHS.
E02: NOTE 8 - ITEMS NOT REQUIRING CASH------------------------------------------------IN THIS CONCEPT IS PRESENTED THE MONETARY ITEMS' RESTATEMENT FROM OCTOBER TO DECEMBER2007.
(1) EN ESTE ANEXO SE INCLUYE LAS NOTAS CORRESPONDIENTES A LAS CIFRAS DE LOS ESTADOS FINANCIEROS BASICOS, ASI COMO SUSDESGLOSES Y OTROS CONCEPTOS
