h volumes, according to Circana.


Mexico: Record high volumes drove high-single digit top and mid-single digit bottom-line growth


Operating performance:Revenue increased by high-single digits, with mid-single digit revenue per hl growth driven by revenue management. Volumes increased by mid-single digits, outperforming the industry which grew by low-single digits, benefitting from Easter shipment phasing. EBITDA grew by mid-single digits, as top-line growth was partially offset by transactional FX headwinds and increased marketing investments.

Commercial highlights:Our performance was led by our above core beer portfolio, which grew revenue by low-teens driven by Modelo and Michelob Ultra. Our mainstream beer portfolio continued to grow, delivering mid-single digit revenue growth led by Corona. We strengthened our position as the industry leader in no-alcohol beer, with our portfolio growing volume by strong double-digits led by Corona Cero an
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