Following trends seen in our Multilatina Index, food and energy companies saw the largest gains in our index of 25 leading Multinationals in Latin America.
Overall, the third quarter of 2014 was a tough one for the 25 multinationals listed on Latin Trade Business Intelligence’s MNC Index: on average, revenues were down 5.2% from the same quarter of 2013, compared with a decline of just 1.2% compared with global total revenues for the companies involved. As with multilatinas, the decline was led by a fall in retail revenues and especially declines in automotives.
There were, however, some bright spots: companies operating in the food and energy sectors by and large saw their revenues increase in the quarter. The increase was particularly pronounced in energy: US-based AES saw revenues climb 13.8% to $2.9bn; Spain’s Gas Natural Fenosa grew 5%, and Spain’s Iberdrola grew 15.5% – all of them seeing much higher revenues in Latin America than on the global stage. The two oilfields services companies on the list US-based Schlumberger and Halliburton also saw revenues grow (5.3% and 4.3%, respectively), though this was less than their total revenue growth. In food, Pepsico saw revenues climb by 6.3%, compared with a global revenue growth of 1.8%. US Kellogg also grew 6% in the region, compared with a global sales decline of 2.1%. Belgium’s AB InBev – the world’s largest brewer, for whom Latin American sales account for 36% of total revenues – suffered the opposite problems. …
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