2016 Second Quarter and First Six Months Results
(firmenpresse) - MEXICO CITY, MEXICO -- (Marketwired) -- 07/27/16 -- Coca-Cola FEMSA, S.A.B. de C.V. (BMV: KOFL) (NYSE: KOF) ("Coca-Cola FEMSA" or the "Company"), the largest franchise bottler in the world by sales volume, announces results for the second quarter of 2016.
"Our operating and financial discipline, coupled with our company''s balanced geographic footprint, drove solid top- and bottom-line results for the quarter. As transactions continued to outperform volumes, we maintained share gains in key markets such as Mexico, Brazil, and Argentina. We also leveraged our pricing flexibility to deliver comparable revenue and EBITDA growth of 9% and 13%, respectively -- expanding margins despite ongoing currency volatility and a very challenging consumer environment in South America.
We carry on creating opportunities to further our growth across our operations. In Venezuela, despite a complex sugar supply environment, we are reinforcing our non-caloric sparkling beverage portfolio to continue providing appealing beverage alternatives for our consumers. In the Philippines, we continue to achieve double-digit transaction and volume growth, while improving this franchise''s profitability. Moreover, through our centers of excellence, we are accelerating the transformation of our operating models -- highlighted by the initial rollout of our KOFmmercial Digital Platform in Mexico.
We are very enthusiastic that we reached a new, broad cooperation framework with our partner, The Coca-Cola Company. This framework aims to maintain a mutually beneficial business relationship over the long term, allowing both companies to focus on continuing to drive the business and generate profitable growth going forward. As we establish the long-term guidelines for our economic relationship, including adjustments to concentrate prices of sparkling beverages over a three-year period in Mexico, we are ready to capture the next wave of inorganic growth through an understanding to assess, on a preferred basis, the acquisition of specific territories within KO''s Bottling Investments Group in Latin America, the United States, and other regions -- ultimately enabling Coca-Cola FEMSA to consolidate its position as a truly diversified multicultural, multi-category global leader," said John Santa Maria, Chief Executive Officer of the Company.
Comparable means, with respect to a year-over-year comparison, the change in a given measure excluding the effects of (i) mergers, acquisitions and divestitures, (ii) translation effects resulting from exchange rate movements and (iii) the results of hyperinflationary economies in both periods. From our operations, only Venezuela qualifies as a hyperinflationary economy. In our "as reported" figures, our Venezuelan operation''s results were translated into Mexican pesos using the DICOM exchange rate published on June 30, 2016 of 628.3434 bolivars per US dollar.
Comparable total revenues grew 9.1% to Ps. 38,536 million driven by average price per unit case growth across most of our operations and volume growth in Mexico and Central America.
The comparable number of transactions outpaced volume growth, increasing 5.3% to 4,835.4 million. Transactions of our sparkling beverage portfolio grew 4.6% driven by the positive performance of Mexico, which increased 8.4%, Central America which grew 6.3% and Brazil, which grew 1.5%. Transactions of water, including bulk water, grew 10.1% driven by the performance of Mexico, Colombia, Central America and Argentina. Our still beverage category increased transactions by 7.2%, mainly driven by Mexico, Colombia, and Central America.
Comparable sales volume grew 2.6% to 809.7 million unit cases in the second quarter of 2016 as compared to the same period in 2015. Our sparkling beverage portfolio grew 1.3% mainly driven by Mexico and Central America, which offset a contraction in Brazil, Argentina and Colombia. Volume of our bottled water portfolio increased 13.0% driven by Ciel and Ciel Exprim in Mexico, Brisa in Colombia, and Bonaqua in Argentina. Our still beverage category increased 8.6% mainly driven by Vallefrut orangeade, del Valle juice, FUZE tea and Santa Clara. Volume of our bulk water portfolio increased 2.5% mainly driven by growth of Ciel in Mexico, Kin in Argentina and Crystal in Brazil, which offset a decline of Brisa bulk water in Colombia.
Comparable gross profit grew 7.2% to Ps. 18,037 million with a gross margin contraction of 80 basis points in the period. In local currency, the benefit of lower PET prices, in combination with our currency hedging strategy, was offset by higher price of sugar and the depreciation of the average exchange rate of the Argentine Peso, the Brazilian Real, the Colombian Peso and the Mexican Peso as applied to our U.S. dollar-denominated raw material costs.
On a comparable basis, during the second quarter of 2016, the other operative expenses net line recorded an expense of Ps. 49 million, which compares to an expense of Ps. 186 million during the second quarter of 2015.
The comparable reported share of the profits of associates and joint ventures line recorded a gain of Ps. 211 million in the second quarter of 2016, which compares to a gain of Ps. 179 million recorded in the second quarter of 2015, mainly due to a positive contribution of our stake in Coca-Cola FEMSA Philippines, Inc., which compensated for a loss in the equity method from our participation in our non-carbonated beverage joint-venture in Brazil.
Comparable operating income grew 12.0% to Ps. 6,098 million with a 40 basis points margin expansion, reaching 15.8% in the second quarter of 2016.
Comparable operating cash flow grew 12.5% to Ps. 7,989 million with a margin expansion of 60 basis points to 20.7% in the second quarter of 2016.
Our comparable comprehensive financing result in the second quarter of 2016 recorded an expense of Ps. 2,815 million, as compared to an expense of Ps. 1,569 million in the same period of 2015. The difference was mainly driven by (i) a foreign exchange loss as a result of the quarterly depreciation of the Mexican peso as applied to our U.S. dollar-denominated net debt position and (ii) higher interest expenses in Mexican pesos, mainly driven by the effect of the depreciation of the Mexican peso as applied to our interest payments denominated in U.S. dollars and Brazilian reals.
During the second quarter of 2016, comparable income tax as a percentage of income before taxes was 26.3% as compared to 31.3% in the same period of 2015. The lower tax rate in 2016 resulted from (i) certain tax efficiencies across our operations, (ii) a lower effective tax rate in Colombia and (iii) ongoing efforts to reduce non-deductible items across our operations.
Comparable net controlling interest income declined 12.7% to Ps. 2,205 million in the second quarter of 2016, resulting in earnings per share (EPS) of Ps. 1.06 (Ps. 10.64 per ADS).
Total revenues increased 9.3% to Ps. 39,939 million in the second quarter of 2016, despite of the depreciation of the Venezuelan bolivar, the Argentine peso and the Colombian peso as compared to the Mexican peso.
Reported total number of transactions grew 1.9% to 5,010.2 million in the second quarter of 2016 as compared to the same period in 2015.
Reported total sales volume declined 0.4% to 843.3 million unit cases in the second quarter of 2016 as compared to the same period in 2015.
Gross profit grew 5.4% to Ps. 18,444 million and gross margin declined 170 basis points to 46.2%.
Operating income grew 6.6% to Ps. 6,004 million and operating margin contracted 40 basis points to 15.0%.
Operating cash flow grew 9.5% to Ps. 8,091 million and operating cash flow margin expanded 10 basis points to 20.3%.
Reported consolidated net controlling interest income decreased 25.0% to Ps. 2,001 million in the second quarter of 2016, resulting in reported earnings per share (EPS) of Ps. 0.97 (Ps. 9.65 per ADS).
As of June 30, 2016, we had a cash balance of Ps. 15,646 million, including US$ 522 million denominated in U.S. dollars, a decrease of Ps. 343 million as compared to December 31, 2015. This difference was mainly driven by debt and interest payments, the payment of the first installment of the dividend in the amount of Ps. 3,462 million and negative currency translation effects, net of the cash flow generation across our territories.
As of June 30, 2016, total short-term debt was Ps. 3,355 million and long-term debt was Ps. 68,020 million. Total debt increased by Ps. 4,645 million, compared to year end 2015 mainly due to the negative translation effect resulting from the depreciation of the end of period exchange rate of the Mexican peso as applied to our U.S. dollar denominated debt position. Net debt increased by Ps. 4,988 million compared to year end 2015.
The weighted average cost of debt for the quarter, including the effect of debt swapped to Brazilian reals at a floating rate, was 9.1%. The following charts set forth the Company''s debt profile by currency and interest rate type and by maturity date as of June 30, 2016.
(1) See page 19 for detailed information.
(2) After giving effect to cross currency swaps.
(3) Calculated by weighting each year''s outstanding debt balance mix.
(Mexico, Guatemala, Nicaragua, Costa Rica and Panama)
Comparable means, with respect to a year-over-year comparison, the change in a given measure excluding the effects of (i) mergers, acquisitions and divestitures, (ii) translation effects resulting from exchange rate movements and (iii) the results of hyperinflationary economies in both periods. From our operations, only Venezuela qualifies as a hyperinflationary economy.
Comparable total revenues from our Mexico and Central America division increased 11.7% to Ps. 23,198 million in the second quarter of 2016, as compared to the same period in 2015, mainly driven by accelerated volume growth and an average price per unit case increase of 5.0% in Mexico. Our division''s comparable average price per unit case grew 4.1%, reaching Ps. 42.80.
Total transactions in the Mexico and Central America division grew 8.9%, ahead of volume performance, totaling 3,035.3 million in the second quarter of 2016. Transactions of our sparkling beverage portfolio grew 8.1%, mainly driven by a 5.8% increase in transactions of brand Coca-Cola and 21.6% growth of flavored sparkling beverages in Mexico, and a 6.3% improvement in sparkling beverages in Central America. Our still beverage category increased transactions by 11.2%, mainly driven by Mexico, which generated close to 24 million incremental transactions. Transactions of water, including bulk water, grew 16.2% mainly driven by Mexico.
Total sales volume increased 7.3% to 541.6 million unit cases in the second quarter of 2016, as compared to the same period of 2015. Volume in Mexico increased 7.3% and volume in Central America increased 7.4%. Our sparkling beverage category increased 6.3%, mainly driven by growth of brand Coca-Cola, the recently launched Limon&Nada and Naranja&Nada, and Mundet in Mexico. Our personal water portfolio increased 24.8% mainly driven by Ciel and Ciel Exprim in Mexico. Our still beverage category grew 17.9%, mainly driven by the performance of Vallefrut, the del Valle juice portfolio and Santa Clara in Mexico, and FUZE tea across the region. Our bulk water portfolio grew 4.0%, mainly driven by Ciel in Mexico.
Comparable gross profit grew 8.7% to Ps. 11,765 million in the second quarter of 2016 as compared to the same period in 2015, with a margin decrease of 140 basis points to reach 50.7%. Lower PET prices in the division, in combination with our currency hedging strategy, were offset by higher prices of sugar and the depreciation of the average exchange rate of the Mexican peso as applied to our U.S. dollar-denominated raw material costs.
Comparable operating income in the division grew 10.2% to Ps. 4,494 million in the second quarter of 2016, with a margin decline of 20 basis points to reach 19.4%. Our operating expenses in the division, as a percentage of sales, contracted 100 basis points.
Comparable operating cash flow grew 10.7% to Ps. 5,659 million in the second quarter of 2016 as compared to the same period in 2015. Our comparable operating cash flow margin was 24.4%, with a margin decrease of 20 basis points.
Reported total revenues increased 14.2% in the second quarter of 2016, driven by a combination of strong volume growth and solid pricing, coupled with a positive translation effect that resulted from the appreciation of the currencies in our Central American operations as compared to the Mexican peso.
Reported gross profit increased 10.7% in the second quarter of 2016 and gross profit margin reached 50.7%.
Our reported operating income increased 12.0% in the second quarter of 2016, and operating income margin reached 19.4%, contracting 30 basis points during the period.
Reported operating cash flow increased 12.7% in the second quarter of 2016, resulting in a margin of 24.4%.
(Colombia, Venezuela, Brazil and Argentina)
Comparable means, with respect to a year-over-year comparison, the change in a given measure excluding the effects of (i) mergers, acquisitions and divestitures, (ii) translation effects resulting from exchange rate movements and (iii) the results of hyperinflationary economies in both periods. From our operations, only Venezuela qualifies as a hyperinflationary economy. In our "as reported" figures, our Venezuelan operation''s results were translated into Mexican pesos using the DICOM exchange rate published on June 30, 2016 of 628.3434 bolivars per US dollar.
Comparable total revenues grew 5.3% to Ps. 15,337 million, driven by average price per unit case growth across our territories. Revenues of beer in Brazil accounted for Ps. 1,514 million in the second quarter of 2016.
Comparable transactions in the division declined 0.2% totaling 1,800.1 million in the second quarter of 2016. Transactions of our sparkling beverage portfolio decreased 1.0%, driven by decreases in Argentina and Colombia, which compensated for a 1.5% increase in Brazil. Transactions of water, including bulk water, increased 3.9% driven by growth in Colombia and Argentina. Our still beverage category increased transactions by 1.4% driven by Colombia.
Comparable total sales volume in our South America division decreased 5.8% to 268.1 million unit cases in the second quarter of 2016 as compared to the same period of 2015. Our personal water category grew 3.4%, driven by Brisa in Colombia and Bonaqua in Argentina. The still beverage category decreased 5.2%, while our bulk water business declined 12.6%, mainly driven by Brisa bulk water in Colombia. Our sparkling beverage category decreased 6.5%, driven by a 5.4% decline in Brazil, a 15.4% contraction in Argentina, and a 1.8% volume decrease in Colombia.
Comparable gross profit increased 4.3% to Ps. 6,272 million, with a margin decrease of 40 basis points, as a result of higher prices of sugar and the depreciation of the average exchange rate of our division''s currencies as applied to our U.S. dollar-denominated raw material costs, which offset lower PET prices, in combination with our currency hedging strategy.
Comparable operating income grew 17.1% to Ps. 1,604 million, with a margin expansion of 110 basis points as compared to the same period of the previous year.
Comparable operating cash flow grew 17.1% to Ps. 2,329 million, reaching an operating cash flow margin of 15.2% and recording a margin expansion of 150 basis points as compared to the same period of 2015.
Reported total revenues grew 3.1% to Ps. 16,740 million in the second quarter of 2016.
Reported total number of transactions declined 7.3% to 1,974.8 million in the second quarter of 2016 as compared to the same period in 2015.
Reported total sales volume declined 11.7% to 301.7 million unit cases in the second quarter of 2016 as compared to the same period in 2015, driven by volume declines in all operations.
Reported gross profit declined 2.7% to Ps. 6,679 million in the second quarter of 2016 and gross profit margin contracted 240 basis points to 39.9%.
Our reported operating income declined 6.8% to Ps. 1,510 million in the second quarter of 2016, and operating income margin reached 9.0%, a contraction of 100 basis points.
Reported operating cash flow grew 2.8% to reach Ps. 2,432 million in the second quarter of 2016, resulting in a margin of 14.5%, a contraction of 10 basis points.
Comparable means, with respect to a year-over-year comparison, the change in a given measure excluding the effects of (i) mergers, acquisitions and divestitures, (ii) translation effects resulting from exchange rate movements and (iii) the results of hyperinflationary economies in both periods. From our operations, only Venezuela qualifies as a hyperinflationary economy. In our "as reported" figures, our Venezuelan operation''s results were translated into Mexican pesos using the DICOM exchange rate published on June 30, 2016 of 628.3434 bolivars per US dollar.
Comparable total revenues grew 9.1% to Ps. 73,151 million driven by average price per unit case growth across most of our operations and volume growth in Mexico, Central America and Colombia.
The comparable number of transactions outpaced volume growth, increasing 4.7% to 9,444.7 million. Transactions of our sparkling beverage portfolio grew 4.1% driven by the positive performance of Mexico, which increased 7.2%, Colombia, which grew 4.2%, and Central America which grew 5.6%. Our still beverage category increased transactions by 7.8%, mainly driven by Mexico, Colombia, Central America and Argentina. Transactions of water, including bulk water, grew 5.9% driven by the performance of Colombia, Mexico, Argentina and Central America.
Comparable sales volume grew 2.4% to 1,575.0 million unit cases in the first six months of 2016 as compared to the same period in 2015. Our sparkling beverage portfolio grew 1.5% driven by Mexico, Colombia and Central America, which offset a contraction in Brazil and Argentina. Our still beverage category increased 9.6% driven by Vallefrut, del Valle juice and Santa Clara in Mexico; Fresh and Fuze in Colombia and Hi-C in Argentina. Volume of our bottled water portfolio increased 8.4% driven by Ciel in Mexico, Brisa in Colombia, and Bonaqua in Argentina. Volume of our bulk water portfolio increased 1.1% mainly due to Ciel in Mexico, Kin in Argentina and Crystal in Brazil, which compensated for a decline of Brisa in Colombia.
Comparable gross profit grew 7.8% to Ps. 33,892 million with a gross margin contraction of 60 basis points in the period. In local currency, the benefit of lower PET prices, in combination with our currency hedging strategy, was offset by higher price of sugar and the depreciation of the average exchange rate of the Argentine Peso, the Colombian Peso, the Brazilian Real, and the Mexican Peso as applied to our U.S. dollar-denominated raw material costs.
On a comparable basis, during the first six months of 2016, the other operative expenses net line recorded an expense of Ps. 75 million, which compares to an expense of Ps. 361 million during the same period of 2015.
The comparable reported share of the profits of associates and joint ventures line recorded a gain of Ps. 270 million in the first six months of 2016, which compares to a gain of Ps. 181 million recorded in the same period of 2015, mainly due to a positive contribution of our stake in Coca-Cola FEMSA Philippines, Inc., which compensated for a loss in the equity method from our participation in our non-carbonated beverage joint-venture in Brazil.
Comparable operating income grew 11.2% to Ps. 10,740 million with a 30 basis points margin expansion, reaching 14.7% in the first six months of 2016.
Comparable operating cash flow grew 11.2% to Ps. 14,505 million with a margin expansion of 30 basis points as compared to the same period of 2015.
Our comparable comprehensive financing result in the first six months of 2016 recorded an expense of Ps. 4,160 million, as compared to an expense of Ps. 2,817 million in the same period of 2015. The difference was mainly driven by (i) a foreign exchange loss as a result of the depreciation of the Mexican peso as applied to our U.S. dollar-denominated net debt position and (ii) higher interest expenses in Mexican pesos, mainly driven by the effect of the depreciation of the Mexican peso as applied to our interest payments denominated in U.S. dollars and Brazilian reals.
During the first six months of 2016, comparable income tax as a percentage of income before taxes was 26.0% as compared to 30.6% in the same period of 2015. The lower tax rate in 2016 resulted from (i) certain tax efficiencies across our operations, (ii) a lower effective tax rate in Colombia and (iii) ongoing efforts to reduce non-deductible items across our operations.
Comparable net controlling interest income decreased 2.0% to Ps. 4,550 million in the first six months of 2016, resulting in earnings per share (EPS) of Ps. 2.19 (Ps. 21.95 per ADS).
Reported total revenues increased 7.9% to Ps. 76,654 million in the first six months of 2016, despite the depreciation of the currencies in the South America division as compared to the Mexican peso.
Reported total number of transactions grew 1.9% to 9,884.9 million in the first six months of 2016 as compared to the same period in 2015.
Reported total sales volume grew 0.1% to 1,659.4 million unit cases in the first six months of 2016 as compared to the same period in 2015.
Reported gross profit grew 5.7% to Ps. 35,196 million and gross margin declined 100 basis points to 45.9%.
Reported operating income grew 7.2% to Ps. 10,871 million and operating margin contracted 10 basis points to 14.2%.
Reported operating cash flow grew 9.3% to Ps. 15,043 million and operating cash flow margin expanded 20 basis points to reach 19.6%.
Reported consolidated net controlling interest income decreased 9.8% to Ps. 4,391 million in the first six months of 2016, resulting in reported earnings per share (EPS) of Ps. 2.12 (Ps. 21.18 per ADS).
For the first six months of 2016, volume grew 12.9% favored by the performance of brand Coca-Cola, which grew more than 20% and 13% growth in our "core" flavored sparkling beverage portfolio. Our single-serve "Mismo" one-way PET presentation continued to support growth in flavored sparkling beverages, while our 8-ounce returnable glass bottle, "Timeout" is being expanded to our "core" flavored sparkling beverage portfolio. On the multi-serve front, our 750-ml "Kasalo" returnable glass presentation continues to generate incremental volumes. Total transactions in the first six months of the year grew 12.8%, in line with volume growth. In the first half of the year, our Philippines operation continues to deliver encouraging top-and bottom-line performance, while expanding margins.
KOF and The Coca-Cola Company (KO) have reached a new, broad cooperation framework. This cooperation framework seeks to maintain a mutually beneficial business relationship over the long-term, which will allow both companies to focus on continuing to drive the business forward and generating profitable growth; and contemplates the following main objectives:
Long term guidelines to the relationship economics: concentrate prices for sparkling beverages in Mexico will gradually increase over a 3-year period beginning in July 2017. Based on our internal estimates for revenues and sales volume mix, we currently expect the incremental annual cost in Mexico, on an annualized basis, to be approximately US$35 million for the years 2017, 2018, and 2019.
Both companies are committed to implement marketing and commercial strategies, and productivity programs to maximize their profitability. KOF is confident that these initiatives will mitigate the effects of concentrate price adjustments.
Potential future concentrate price adjustments for sparkling beverages and flavored water in Mexico, will consider investment and profitability levels that are beneficial to the business of KOF and KO.
The Coca-Cola Company also recognizes Coca-Cola FEMSA''s strong operating model and execution capabilities. With respect to KO''s Bottling Investments Group territories it may divest in the future, we have reached an understanding with KO to assess, on a preferred basis, the acquisition of specific territories in Latin America, the United States and other regions.
Our second quarter 2016 conference call will be held on July 27, 2016, at 11:00 A.M. Eastern Time (10:00 A.M. Mexico City Time). To participate in the conference call, please dial: Domestic U.S.: 888-505-4368 or International: 719-785-1753. Participant code: 4640746. We invite investors to listen to the live audiocast of the conference call on the Company''s website, . If you are unable to participate live, the conference call audio will be available at .
Coca-Cola FEMSA encourages the reader to refer to our quarterly filing to the Mexican Stock Exchange (Bolsa Mexicana de Valores or BMV) for more detailed information. This filing contains a detailed cash flow statement and selected notes to the financial statements, including segment information. This filing is available at in the Información Financiera section for Coca-Cola FEMSA (KOF) and in our corporate website at .
This news release may contain forward-looking statements concerning Coca-Cola FEMSA''s future performance, which should be considered as good faith estimates by Coca-Cola FEMSA. These forward-looking statements reflect management''s expectations and are based upon currently available data. Actual results are subject to future events and uncertainties, many of which are outside Coca-Cola FEMSA''s control, which could materially impact the Company''s actual performance. References herein to "US$" are to United States dollars. This news release contains translations of certain Mexican peso amounts into U.S. dollars for the convenience of the reader. These translations should not be construed as representations that Mexican peso amounts actually represent such U.S. dollar amounts or could be converted into U.S. dollars at the rate indicated.
All the financial information presented in this report was prepared under International Financial Reporting Standards (IFRS).
In an effort to provide our readers with a more useful representation of our company''s underlying financial and operating performance we are including the term "Comparable". This means, with respect to a year-over-year comparison, the change in a given measure excluding the effects of (i) mergers, acquisitions and divestitures, (ii) translation effects resulting from exchange rate movements and (iii) the results of hyperinflationary economies in both periods. Currently, the only operation that qualifies as a hyperinflationary economy is Venezuela. In preparing this measure, management has used its best judgment, estimates and assumptions in order to maintain comparability.
Earnings per share were computed based on 2,072.9 million outstanding shares (each ADS represents 10 local shares).
For reporting purposes, all corporate expenses, including the equity method recorded from our stake of the results of Coca-Cola FEMSA Philippines, Inc., are included in the results of the Mexico and Central America division. Starting on February 2013, we are incorporating our stake of the results of Coca-Cola FEMSA Philippines, Inc. through the equity method.
Stock listing information: Mexican Stock Exchange, Ticker: KOFL | NYSE (ADR), Ticker: KOF | Ratio of KOF L to KOF = 10:1
Coca-Cola FEMSA, S.A.B. de C.V. produces and distributes Coca-Cola, Fanta, Sprite, Del Valle, and other trademark beverages of The Coca-Cola Company in Mexico (a substantial part of central Mexico, including Mexico City, as well as southeast and northeast Mexico), Guatemala (Guatemala City and surrounding areas), Nicaragua (nationwide), Costa Rica (nationwide), Panama (nationwide), Colombia (most of the country), Venezuela (nationwide), Brazil (greater São Paulo, Campiñas, Santos, the state of Mato Grosso do Sul, the state of Paraná, part of the state of Goias, part of the state of Rio de Janeiro and part of the state of Minas Gerais), Argentina (federal capital of Buenos Aires and surrounding areas) and Philippines (nationwide), along with bottled water, juices, teas, isotonics, beer, and other beverages in some of these territories. The Company has 63 bottling facilities and serves more than 358 million consumers through 2,800,000 retailers with more than 100,000 employees worldwide.
(12 pages of tables to follow)
Roland Karig
(5255) 1519-5186
Tania Ramirez
(5255) 1519-5013
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Datum: 27.07.2016 - 06:00 Uhr
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