TMM Company Contact: AT Dresner Corporate Services::
Verónica Tego Sánchez, CFO David Gutierrez (investors, analysts, media)
011-52-55-5629-8866 312-780-7204
veronica.tego@tmm.com.mx
dgutierrez@dresnerco.com
GRUPO TMM REPORTS SECOND QUARTER 2025 FINANCIAL RESULTS
(In Millions of Mexican Pesos)
Second Quarter 2025 Results Include:
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Shareholders’ Equity of $ 2,270.8 million
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Consolidated revenues increased 18.4% compared to the same period last year
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Net income of $116.1 million
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Mexico City, July 30, 2025 – Grupo
TMM, S.A.B. (OTC: GTMAY and BMV: TMM A; “TMM” or the “Company”), a Mexican maritime transportation, infrastructure, and logistics Company, reported today its financial results for the second quarter 2025.
During the second quarter of 2025, Grupo TMM reported financial and operational results that reaffirm the stability and resilience of
its core businesses, consolidating a positive trend and making solid progress in its diversification and expansion strategies.
Vanessa Serrano Cuevas, Chairwoman of the Board, stated:
“We have maintained a positive and consistent financial performance, driven by disciplined execution and a
long-term vision. We continue to make progress on key projects that strengthen our operational capabilities and position us to serve an increasingly diverse customer base”.
Key Developments in the Second Quarter 2025
Maritime Transportation:
Specialized offshore vessels sustained high utilization rates, reflecting continued operational efficiency. We remain proactive in pursuing initiatives to expand our customer base in the medium term, in line with our strategy of diversification and sustainable growth.
Maritime Infrastructure:
The new floating dry dock, in operation since the first quarter, continues to increase its utilization rate, establishing itself as a
strategic asset within our service offering. Opportunities are currently being evaluated to strengthen and expand this division, aligned with our
long-term vision to enhance capabilities and specialized infrastructure.
Logistics:
During the second quarter, service volumes continued on a positive trend, supported by greater diversification of our customer base. We also began the second phase of the Master
Maintenance Program, focused on optimizing delivery times and operational capacity, with the goal of achieving sustainable improvements in
service and profitability.
Consolidated Financial Results
Revenues: $475.4 million
(+18.4% vs. Q2 2024).
Operating Income: $73.1
million (+32.8% vs. Q2 2024).
EBITDA: $102.7 million (+24.9%
vs. Q2 2024).
2025 Outlook
Looking ahead, Grupo TMM remains committed to innovation, operational efficiency, and profitable growth, while integrating sustainability across all
business lines.
Headquartered in Mexico City, Grupo TMM is a Mexican company that provides comprehensive solutions in maritime transportation, maritime infrastructure,
warehousing, and ports & terminals logistics operations, through its branch offices and network of subsidiary companies. For more information on Grupo TMM, please visit the company’s web site at www.tmm.com.mx. The site offers Spanish/English
language options.
Included in this press release are certain forward-looking statements within the meaning of Section27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements speak only as of the date they are made and are based on the beliefs of the Company's management as well as on assumptions made. Actual
results could differ materially from those included in such forward-looking statements. Readers are cautioned that all forward-looking statements involve risks and uncertainty. The following factors could cause actual results to differ materially
from such forward-looking statements: global, US and Mexican economic and social conditions; the effect of the North American Free Trade Agreement on the level of US-Mexico trade; the condition of the world shipping market; the success of the
Company's investment in new businesses; risks associated with the Company's reorganization and restructuring; the ability of the Company to reduce corporate overhead costs; the ability of management to manage growth and successfully compete in new
businesses; and the ability of the Company to restructure or refinance its indebtedness. These risk factors and additional information are included in the Company's reports on Form 6-K and 20-F on file with the United States Securities and Exchange
Commission.
Financial tables follow
Grupo TMM, S.A.B. and Subsidiaries
Balance Sheet*
- Millions of Pesos -
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Junee 30,
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December 31,
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| |
2025
|
2024
|
| |
|
|
| |
|
|
| |
|
|
|
Cash and cash in banks available
|
232.5
|
207.1
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|
Total cash and cash equivalents
|
232.5
|
207.1
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|
Accounts receivable – Net
|
1,021.5
|
711.5
|
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Other accounts receivable
|
264.9
|
235.2
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Taxes to be recovered
|
186.3
|
195.2
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|
Prepaid expenses and others current assets
|
41.7
|
37.2
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|
Total current assets
|
1,746.8
|
1,386.2
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Taxes to be recovered long term
|
46.2
|
63.0
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|
Property, machinery and, equipment
|
3,016.0
|
2,377.6
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Cumulative Depreciation
|
(148.7)
|
(108.8)
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Property, machinery and, equipment – Net
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2,867.3
|
2,268.8
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Rights of use
|
60.2
|
67.2
|
|
Other assets
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193.2
|
206.7
|
|
Total assets
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4,913.7
|
3,991.9
|
|
Bank loans and current maturities of long-term liabilities
|
256.1
|
260.6
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Leases short-term
|
27.4
|
22.4
|
|
Suppliers
|
435.4
|
370.4
|
|
Other accounts payable and accrued expenses
|
645.9
|
588.4
|
|
Total current liabilities
|
1,364.9
|
1,241.8
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Bank loans
|
1,018.1
|
374.7
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|
Leases long-term
|
54.7
|
60.2
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Deferred taxes
|
130.5
|
132.1
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Other long-term liabilities
|
74.8
|
74.8
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|
Total long-term liabilities
|
1,278.1
|
641.7
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Total liabilities
|
2,643.0
|
1,883.5
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Total stockholders´ equity
|
2,270.8
|
2,108.4
|
|
Total liabilities and stockholders´ equity
|
4,913.7
|
3,991.9
|
*Prepared in accordance with International Financial Reporting Standards as issued by the International Accounting Standards Board.
Grupo TMM, S.A.B. and Subsidiaries
*Statement of Income
- Millions of Pesos -
| |
Three months ended
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|
Six months ended
|
| |
June 30,
|
|
June 30,
|
| |
2025
|
2024
|
|
2025
|
2024
|
| |
|
|
|
|
|
|
Maritime
|
360.3
|
253.7
|
|
751.8
|
445.8
|
|
Inland Logistics
|
21.1
|
16.6
|
|
41.2
|
41.1
|
|
Warehousing Services
|
14.9
|
56.9
|
|
30.7
|
92.1
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|
Maritime Infrastructure
|
79.2
|
74.3
|
|
138.6
|
166.6
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Revenue from freight and services
|
475.4
|
401.5
|
|
962.3
|
745.7
|
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Maritime
|
(247.7)
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(231.0)
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|
(529.7)
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(398.2)
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Inland Logistics
|
(19.9)
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(16.7)
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|
(37.5)
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(36.6)
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Warehousing Services
|
(40.4)
|
(25.3)
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|
(73.6)
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(55.1)
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Maritime Infrastructure
|
(47.3)
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(55.9)
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(90.7)
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(117.5)
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Cost of freight and services
|
(355.3)
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(329.0)
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(731.5)
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(607.4)
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Maritime
|
(19.2)
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(5.2)
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(33.0)
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(15.8)
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Inland Logistics
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(4.0)
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(2.7)
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|
(8.0)
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(5.1)
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Warehousing Services
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(2.0)
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(18.0)
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|
(4.1)
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(36.0)
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Maritime Infrastructure
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(3.9)
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(0.8)
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|
(7.2)
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(2.8)
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Depreciation and amortization
|
(29.1)
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(26.7)
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|
(52.3)
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(59.8)
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Maritime
|
93.3
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17.5
|
|
189.0
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31.8
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Inland Logistics
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(2.8)
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(2.8)
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(4.3)
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(0.6)
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Warehousing Services
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(27.6)
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13.6
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|
(46.9)
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1.0
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Maritime Infrastructure
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28.0
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17.6
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|
40.7
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46.3
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Results by business
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91.0
|
45.9
|
|
178.6
|
78.5
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Corporate expenses
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(14.4)
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(17.2)
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|
(29.6)
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(31.0)
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Corporate depreciation and amortization
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(0.5)
|
(0.5)
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|
(1.1)
|
(1.1)
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|
Non-recurring (expenses) income
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(3.0)
|
26.9
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|
(9.5)
|
36.2
|
|
Operating (loss) gain
|
73.1
|
55.0
|
|
138.4
|
82.7
|
|
Financial (expenses) income - Net
|
(29.7)
|
(6.2)
|
|
(57.0)
|
(13.1)
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|
Leases financial expenses
|
(2.4)
|
(4.7)
|
|
(5.2)
|
(9.9)
|
|
Exchange gain (loss) - Net
|
75.1
|
(26.8)
|
|
86.1
|
(32.7)
|
|
Net financial cost
|
43.0
|
(37.7)
|
|
24.0
|
(55.6)
|
|
(loss) gain before taxes
|
116.1
|
17.3
|
|
162.3
|
27.0
|
|
Provision for taxes
|
-
|
-
|
|
-
|
-
|
| |
|
|
|
|
|
|
Net (loss) gain for the period
|
116.1
|
17.3
|
|
162.3
|
27.0
|
| |
|
|
|
|
|
|
Attributable to:
|
|
|
|
|
|
|
Minority interest
|
(0.1)
|
0.1
|
|
(0.1)
|
0.1
|
|
Equity holders of GTMM, S.A.B.
|
116.2
|
17.2
|
|
162.5
|
26.9
|
| |
|
|
|
|
|
|
Weighted average outstanding shares (millions)
|
174.55
|
174.55
|
|
174.55
|
174.55
|
|
Income (loss) earnings per share (pesos/share)
|
0.67
|
0.10
|
|
0.93
|
0.15
|
| |
|
|
|
|
|
|
Outstanding shares at end of period (millions)
|
174.55
|
174.55
|
|
174.55
|
174.55
|
|
Income (loss) earnings per share (pesos/share)
|
0.67
|
0.10
|
|
0.93
|
0.15
|
*Prepared in accordance with International Financial Reporting Standards as issued by the International Accounting Standards Board.
Grupo TMM, S.A.B. and subsidiaries
*Statement of Cash Flow
- Millions of Pesos -
| |
Three months ended
|
|
Six months ended
|
| |
June 30,
|
|
June 30,
|
| |
2025
|
2024
|
|
2025
|
2024
|
| |
|
|
|
|
|
|
Net gain (loss) for the period
|
116.1
|
17.3
|
|
162.3
|
27.0
|
|
Depreciation & amortization
|
29.6
|
27.2
|
|
53.3
|
60.8
|
|
Deferred taxes
|
(0.4)
|
(2.9)
|
|
(1.5)
|
(4.6)
|
|
Other non-cash items
|
(49.7)
|
21.0
|
|
(21.0)
|
40.4
|
|
Total non-cash items
|
(20.5)
|
45.3
|
|
30.8
|
96.7
|
|
Changes in assets & liabilities
|
(27.8)
|
(12.0)
|
|
(192.7)
|
(10.4)
|
|
Total adjustments
|
(48.2)
|
33.4
|
|
(161.9)
|
86.3
|
|
Net cash provided by (used in) operating activities
|
67.8
|
50.7
|
|
0.4
|
113.3
|
|
|
|
|
|
|
|
|
Proceeds from sale of assets/interest received
|
0.9
|
0.3
|
|
1.7
|
0.7
|
|
Payments for purchase of assets
|
(14.4)
|
17.9
|
|
(649.0)
|
(84.8)
|
|
Net cash provided by (used in) investment activities
|
(13.6)
|
18.3
|
|
(647.3)
|
(84.1)
|
| |
|
|
|
|
|
|
Short-term borrowings (net)
|
(63.2)
|
1.0
|
|
(103.6)
|
(3.2)
|
|
Repayment of leases
|
(2.6)
|
(18.1)
|
|
(5.6)
|
(32.5)
|
|
Proceeds from (repayment of) long-term debt
|
(3.5)
|
30.5
|
|
801.5
|
29.7
|
|
Net cash provided by (used in) financing activities
|
(69.3)
|
13.3
|
|
692.3
|
(6.0)
|
|
Exchange effect on cash
|
(16.70)
|
0.02
|
|
(20.1)
|
2.3
|
|
Net increase (decrease) in cash
|
(31.8)
|
82.3
|
|
25.4
|
25.5
|
|
Cash at beginning of period
|
264.2
|
43.2
|
|
207.1
|
100.0
|
|
Cash at end of period
|
232.5
|
125.5
|
|
232.5
|
125.5
|
Prepared in accordance with International Financial Reporting Standards as issued by the International Accounting Standards Board.
