July 26, 2012 at 16:15 PM EDT
Grupo TMM Reports Second-Quarter 2012 Financial Results

MEXICO CITY -- (Marketwire) -- 07/26/12 -- Grupo TMM, S.A.B. (OTC: GTMAY) (BMV: TMM A) ("TMM" or the "Company"), a Mexican intermodal transportation and logistics Company, reported today its financial results for the second quarter of 2012.

MANAGEMENT OVERVIEW
José F. Serrano, chairman and chief executive officer of Grupo TMM, said, "In the 2012 second quarter, consolidated revenue decreased compared to the 2011 period, driven mainly by lower tariffs and lower utilization at the product tanker segment, reduced operations at Acapulco and the volatility of the peso versus the dollar, all of which is more difficult to overcome in a contracted revenue environment.

"However, 2012 second-quarter and first six-month utilization at the offshore segment was 88.5 percent and 90.4 percent, respectively. In the first six months of 2012, we renewed six contracts for three-year terms each, and in July we renewed two contracts for two-year terms each, all of which will improve our Maritime division results going forward. To date, the Maritime division's backlog is $167.6 million."

Serrano concluded, "We believe we are close to reaching an agreement for the financial implementation of the development of a container and liquids terminal at the Port of Tuxpan. Once completed, this terminal will strategically position TMM in this lucrative sector. Additionally, we continue to work to expand the Company's revenue and profit base through the addition of specialized offshore vessels to TMM's fleet."

SECOND-QUARTER AND FIRST-HALF 2012 OPERATING AND FINANCIAL RESULTS
Compared to the same periods of last year, consolidated revenue in the 2012 second quarter and first six months decreased 12.8 percent and 8.7 percent, respectively.

Second-quarter and first six-month 2012 consolidated operating profit was $1.7 million and $6.0 million, respectively. Operating profit in the 2011 second quarter included other income net of $6.4 million, which was mainly attributable to the recovery of certain tax incentives. Excluding this one-time event, operating profit decreased $2.6 million in the second quarter of 2012 and decreased $3.7 million in the first six months of 2012, compared to the same periods of last year.

Consolidated EBITDA decreased 41.8 percent to $14.2 million in the 2012 second quarter compared to $24.4 million in the 2011 second quarter and decreased 26.6 percent to $31.4 million in the 2012 first six months compared to $42.8 million in the 2011 first six months.

Maritime revenue decreased 8.5 percent and 2.3 percent in the 2012 second quarter and first six months, respectively, compared to the same periods of last year, mainly driven by revenue losses at product tankers due to increased offhire days, as well as by lower average daily tariffs compared to the same periods of 2011. These losses were partially offset by $1.8 million of revenue from the Company's shipyard at Tampico recorded in the first six months of 2012.

Comparing the first six months of 2012 with the same period of 2011, offshore revenue increased 0.4 percent to $50.3 million, due mainly to increased revenue days; product tanker revenue decreased 16.8 percent to $13.9 million, attributable mainly to increased offhire days and lower average tariffs, as mentioned above; chemical tanker revenue decreased 18.4 percent to $8.0 million as a result of lower volumes; and harbor tugs revenue increased 7.5 percent to $7.2 million mainly due to higher tariffs per ship call and to the addition of tug services to a new Liquefied Natural Gas, or LNG, terminal at Manzanillo in March.

Maritime operating profit decreased 20.6 percent and 12.7 percent in the 2012 second quarter and first six months, respectively, compared to the same periods of last year, due mainly to operating losses at product tankers as a result of two vessels that were unemployed for the larger part of this year's first quarter and one unemployed vessel in the second quarter, which increased operating costs.

Maritime profit reductions were partially offset by improvements at chemical tankers in both reported periods compared to last year, as this business segment recorded $0.9 million of gross profit in the first six months of 2012 compared to a gross loss of $0.3 million in the first six months of 2011. Additionally, the Company's shipyard contributed $0.5 million of profit in the first six months of 2012.

Maritime's EBITDA for the first six months of 2012 fell 7.7 percent, or $3.1 million, to $37.0 million compared to $40.1 million in first six months of 2011.

Ports and Terminals revenue decreased 11.8 percent and 13.7 percent in the 2012 second quarter and first six months, respectively, compared to the same periods of last year, driven mainly by a dramatic reduction of ship calls at Acapulco due to safety issues at this port, which accounted for a $1.3 million revenue loss in the 2012 six-month period, as well as by lower volumes at shipping agencies, partially offset by improved revenue at the automotive segment due to higher volumes at Puebla and Saltillo.

Ports and Terminals operating profit decreased 30.8 percent and 51.5 percent in the 2012 second quarter and first six months, respectively, compared to the same periods of last year, driven by a $1.4 million gross profit reduction at Acapulco. This decrease was partially offset by a 16.7 percent gross profit improvement at the maintenance and repair segment in the first six months of 2012, over the 2011 period.

Logistics revenue decreased 23.4 percent and 2.6 percent in the second quarter and first six months of 2012, respectively, compared to last year. Operating losses in the 2012 reported periods were partially offset by profit improvements at trucking due to cost efficiencies.

DEBT
As of June 30, 2012, TMM's total debt was $784.5 million. The book value of the Company's Trust Certificates debt increased $30.0 million from December 31, 2011, as a result of a 3.9 percent appreciation of the peso against the dollar in the first six months of 2012. On February 15, 2012, the Company paid approximately $30.4 million of its Trust Certificates debt, including a capital prepayment of $1.2 million.


                                 Total Debt*
                           Million of U.S. Dollars

                                                As of 12/31/11 As of 6/30/12
                                                -------------- -------------
Mexican Trust Certificates (1)                  $        684.3 $       716.9
                                                -------------- -------------
Other Corporate Debt                                      68.2          67.6
                                                ============== =============
Total Debt (2)                                  $        752.5 $       784.5
                                                ============== =============
Cash                                                      77.1          70.1
                                                ============== =============
Net Debt                                        $        675.4 $       714.4
                                                -------------- -------------

*Book Value
(1) 20-year term, non recourse to the Company and rated "AA" by HR Ratings de México
(2) Of total debt, only $20.3 million, or 2.6 percent, is short term
Exchange Rate: 13.95 pesos/dollar at December 31, 2012, and 13.41 pesos/dollar at June 30, 2012

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 10-K and 20-F on file with the United States Securities and Exchange Commission.


                     Grupo TMM, S.A.B. and subsidiaries
                               Balance Sheet*
                          - millions of dollars -

                                                   June 30,    December 31,
                                                     2012          2011
                                                 ------------  ------------

Current assets:
Cash and cash equivalents                              70.057        77.123
                                                 ------------  ------------
Accounts receivable
  Accounts receivable - Net                            40.382        38.963
                                                 ------------  ------------
  Other accounts receivable                            17.073        17.556
                                                 ------------  ------------
  Prepaid expenses and others current assets           12.449        11.568
                                                 ------------  ------------
Total current assets                                  139.961       145.210
                                                 ============  ============
Property, machinery and equipment                     923.906       914.809
                                                 ------------  ------------
Cumulative Depreciation                              (220.791)     (203.985)
                                                 ------------  ------------
Property, machinery and equipment - Net               703.115       710.824
                                                 ============  ============
Other assets                                           34.468        28.447
                                                 ------------  ------------
Deferred taxes                                         67.599        67.583
                                                 ------------  ------------
Total assets                                          945.143       952.064
                                                 ------------  ------------

Current liabilities:
  Bank loans and current maturities of long-term
   liabilities                                         20.277        17.190
                                                 ------------  ------------
  Suppliers                                            23.013        21.475
                                                 ------------  ------------
  Other accounts payable and accrued expenses          65.845        53.848
                                                 ------------  ------------
Total current liabilities                             109.135        92.513
                                                 ============  ============
Long-term liabilities:
  Bank loans                                           55.804        59.378
                                                 ------------  ------------
  Trust certificates debt                             708.369       675.933
                                                 ------------  ------------
  Other long-term liabilities                          18.288        15.828
                                                 ------------  ------------

Total long-term liabilities                           782.461       751.139
                                                 ============  ============
Total liabilities                                     891.596       843.652
                                                 ------------  ------------

Stockholders´ equity
  Common stock                                        155.577       155.577
                                                 ------------  ------------
  Retained earnings                                  (134.463)      (75.096)
                                                 ------------  ------------
  Revaluation surplus                                  63.907        63.907
                                                 ------------  ------------
  Initial accumulated translation loss                (17.757)      (17.757)
                                                 ------------  ------------
  Cumulative translation adjusted                     (17.571)      (22.111)
                                                 ------------  ------------
                                                       49.693       104.520
                                                 ------------  ------------
  Minority interest                                     3.854         3.892
                                                 ------------  ------------
Total stockholders´ equity                             53.547       108.412
                                                 ------------  ------------

Total liabilities and stockholders´ equity            945.143       952.064
                                                 ------------  ------------

*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 dollars -

                                     Three months ended   Six months ended
                                          June 30,            June 30,
                                     ------------------  ------------------
                                       2012      2011      2012      2011
                                     --------  --------  --------  --------

  Ports and Terminals                   6.053     6.835    12.048    13.949
  Maritime                             39.934    43.568    81.284    83.225
  Logistics                            14.669    19.234    30.485    38.389
                                     --------  --------  --------  --------
Revenue from freight and services      60.656    69.637   123.817   135.563
                                     --------  --------  --------  --------

  Ports and Terminals                  (4.864)   (5.178)   (9.841)  (10.007)
  Maritime                            (21.505)  (22.468)  (44.262)  (43.078)
  Logistics                           (16.464)  (19.661)  (32.453)  (38.396)
                                     --------  --------  --------  --------
Cost of freight and services          (42.833)  (47.307)  (86.556)  (91.481)
                                     --------  --------  --------  --------

  Ports and Terminals                  (0.293)   (0.303)   (0.558)   (0.616)
  Maritime                             (9.890)  (10.424)  (19.846)  (20.443)
  Logistics                            (2.145)   (2.699)   (4.555)   (5.257)
  Corporate and others                 (0.228)   (0.211)   (0.453)   (0.396)
                                     --------  --------  --------  --------
Depreciation and amortization         (12.556)  (13.637)  (25.412)  (26.712)
                                     --------  --------  --------  --------

                                     --------  --------  --------  --------
  Corporate expenses                   (3.632)   (4.348)   (7.499)   (8.477)
  Ports and Terminals                   0.896     1.354     1.649     3.326
  Maritime                              8.539    10.676    17.176    19.704
  Logistics                            (3.940)   (3.126)   (6.523)   (5.264)
  Corporate and others                 (0.228)   (0.211)   (0.453)   (0.396)
  Other (expenses) income - Net         0.043     6.385     1.687     7.170
                                     --------  --------  --------  --------
Operating Income                        1.678    10.730     6.037    16.063
                                     ========  ========  ========  ========
Financial (expenses) income - Net     (16.668)  (27.797)  (35.132)  (43.196)
Exchange gain (loss) - Net             36.475   (10.313)  (29.919)  (41.674)
                                     --------  --------  --------  --------
Net financial cost                     19.807   (38.110)  (65.051)  (84.870)
                                     --------  --------  --------  --------
Gain (loss) before taxes               21.485   (27.380)  (59.014)  (68.807)
                                     ========  ========  ========  ========
Provision for taxes                    (0.235)   (2.382)   (0.389)   (2.821)
                                     --------  --------  --------  --------

Net gain (loss) for the period         21.250   (29.762)  (59.403)  (71.628)
                                     --------  --------  --------  --------

Attributable to:
  Minority interest                    (0.209)    0.365    (0.036)    0.827
                                     --------  --------  --------  --------
Equity holders of GTMM, S.A.B.         21.459   (30.127)  (59.367)  (72.455)
                                     --------  --------  --------  --------

Weighted average outstanding shares
 (millions)                           102.183   102.183   102.183   102.169
Income (loss) earnings per share
 (dollars / share)                       0.21     (0.29)    (0.58)    (0.71)

Outstanding shares at end of period
 (millions)                           102.183   102.183   102.183   102.183
Income (loss) earnings per share
 (dollars / share)                       0.21     (0.29)    (0.58)    (0.71)
                                     --------  --------  --------  --------

*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 Flows*
                          - millions of dollars -

                                     Three months ended   Six months ended
                                          June 30,            June 30,
                                     ------------------  ------------------
                                       2012      2011      2012      2011
                                     --------  --------  --------  --------

Cash flow from operation activities:
Net gain (loss) for the period         21.250   (29.762)  (59.403)  (71.628)
                                     --------  --------  --------  --------
Charges (credits) to income not
 affecting resources:
  Depreciation & amortization          14.052    16.030    28.414    32.043
                                     --------  --------  --------  --------
  Other non-cash items                (18.167)   29.336    63.073    77.050
                                     --------  --------  --------  --------
Total non-cash items                   (4.115)   45.366    91.487   109.093
                                     --------  --------  --------  --------
  Changes in assets & liabilities      (2.475)   (0.968)   (2.260)  (20.401)
                                     --------  --------  --------  --------
Total adjustments                      (6.590)   44.398    89.227    88.692
                                     --------  --------  --------  --------
Net cash provided by operating
 activities                            14.660    14.636    29.824    17.064
                                     ========  ========  ========  ========

Cash flow from investing activities:
  Proceeds from sales of assets         1.379     0.462     1.513     2.808
                                     --------  --------  --------  --------
  Payments for purchases of assets     (0.606)   (3.018)   (1.622)   (5.525)
                                     --------  --------  --------  --------
  (Acquisition) sale of share of
   subsidiaries                         0.192              (4.175)
                                     --------  --------  --------  --------
Net cash providad by (used in)
 investment activities                  0.965    (2.556)   (4.284)   (2.717)
                                     ========  ========  ========  ========

Cash flow provided by financing
 activities:
  Short-term borrowings (net)          (0.502)              0.356
                                     --------  --------  --------  --------
  Sale (repurchase) of accounts
   receivable (net)                              (9.119)            (11.559)
                                     --------  --------  --------  --------
  Repayment of long-term debt          (3.649)  (12.039)  (39.683)  (62.560)
                                     --------  --------  --------  --------
  Proceeds from issuance of long-
   term debt                            2.389     4.600     2.839     4.600
                                     --------  --------  --------  --------
Net cash used in financing
 activities                            (1.762)  (16.558)  (36.488)  (69.519)
                                     ========  ========  ========  ========
Exchange losses on cash                (1.783)    0.712     3.882     3.989
                                     ========  ========  ========  ========
  Net (decrease) increase in cash      12.080    (3.766)   (7.066)  (51.183)
                                     --------  --------  --------  --------
  Cash at beginning of period          57.977    94.902    77.123   142.319
                                     --------  --------  --------  --------
  Cash at end of period                70.057    91.136    70.057    91.136
                                     --------  --------  --------  --------

*Prepared in accordance with International Financial Reporting Standards as issued by the International Accounting Standards Board

TMM COMPANY CONTACT:
Jacinto Marina
Deputy CE
011-525-55-629-8718
Email Contact

Monica Azar
Investor Relations
011-525-55-629-8703
Email Contact

AT DRESNER CORPORATE SERVICES:
Kristine Walczak
(investors, analysts, media)
312-726-3600
Email Contact

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