Grupo Tmm Sab 6-K, filed May 7, 2025
Grupo Tmm Sab (GTMAY)
6-K
2025-05-07
For: 2025-05-06
View Original
Added on
April 06, 2026
About this 6-K
Grupo Tmm Sab filed this 6-K on May 7, 2025.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN ISSUER
Pursuant to Rule 13a-16 or 15d-16 of
the Securities Exchange Act of 1934
For the month of MAY 2025
TMM Group, Inc.
(Translation of registrant’s name into English)
Lago Alberto No.442, P.5, 503-A, Colonia Anahuac, Delegacion Miguel Hidalgo,
Mexico City, C.P. 11320 Mexico
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F
Form 20-F X Form 40-F
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101
(b)(1):
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101
(b)(7):
Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby
furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes No X
If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule
12g3-2(b):82-____ .
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to
be signed on its behalf by the undersigned, thereunto duly authorized.
Date: May 6, 2025
By:
______________________________________
/s/ Verónica Tego Sánchez
Chief Financial Officer
This Form 6-K and the exhibit attached hereto are hereby incorporated by reference into the
Registration Statement on Form F-3, Number 333-90710.
EXHIBIT INDEX
|
Press Release dated May 6, 2025 (GRUPO TMM REPORTS FIRST-QUARTER 2025 FINANCIAL RESULTS).
|
|
Brief Description of Notices to CNBV and BMV of Financial Statements for the First-Quarter 2025
Financial Results
|
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 FIRST QUARTER 2025 FINANCIAL RESULTS
(In Millions of Mexican Pesos)
First Quarter 2025 Results Include:
|
o
|
Shareholders’ Equity of $2,156.0 million
|
|
o
|
Consolidated revenues increased 41.5% compared to the same period last year
|
|
o
|
Net income of $46.3 million
|
Mexico City, March 5, 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 first quarter 2025.
Vanessa Serrano Cuevas, Chairwoman of the Board of Grupo TMM, commented:
“Our results demonstrate our commitment to creating shareholder value and strengthening investor confidence, while building a stronger and more profitable financial and operational future.
During the first quarter, we achieved significant milestones, including the launch of our new floating dock and new logistics contracts, in line with our goal of service diversification.
Key Achievements during First Quarter 2025
Maritime Transportation:
The five specialized vessels (Mud Vessels) serving Mexico’s offshore industry, operated with over 90% productivity; additionally, we extended a contract for transporting refined petroleum products
with a product tanker vessel.
Maritime Infrastructure:
In February 2025, we began operating the new floating dry-dock, which can service vessels up to 6,000 tons of lift capacity, reinforcing our outlined growth prospects.
Logistics:
We increased service volumes with certain clients by 28% compared to the same period last year. In the Intermodal Terminal business, we signed a new contract with a shipping company, which will boost both revenue and
profitability. We also successfully completed the first phase of the Master Maintenance Program, enhancing our operational capacity in storage, dispatch, and auto parts hauling.”
Consolidated Financial Results
Revenues:
|
•
|
Q1 2025: $486.9 million (+41.5% vs. Q1 2024).
|
Operating Income:
|
•
|
Q1 2025: $65.3 million (+136.0% vs. Q1 2024).
|
EBITDA:
|
•
|
Q1 2025: $88.9 million (+45.1% vs. Q1 2024).
|
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 -
|
March 31,
|
December 31,
|
|
|
2025
|
2024
|
|
|
Cash and cash in banks available
|
264.2
|
207.1
|
|
Accounts receivable – Net
|
947.5
|
711.5
|
|
Other accounts receivable
|
285.6
|
235.2
|
|
Taxes to be recovered
|
195.2
|
195.2
|
|
Prepaid expenses and others current assets
|
43.4
|
37.2
|
|
Total current assets
|
1,736.0
|
1,386.2
|
|
Taxes to be recovered long term
|
46.2
|
63.0
|
|
Property, machinery and, equipment
|
3,007.8
|
2,377.6
|
|
Cumulative Depreciation
|
(127.0)
|
(108.9)
|
|
Property, machinery and, equipment – Net
|
2,880.8
|
2,268.8
|
|
Rights of use
|
63.7
|
67.2
|
|
Other assets
|
208.2
|
206.7
|
|
Total assets
|
4,934.9
|
3,991.9
|
|
Bank loans and current maturities of long-term liabilities
|
311.2
|
260.6
|
|
Leases short-term
|
25.6
|
22.4
|
|
Suppliers
|
339.2
|
370.4
|
|
Other accounts payable and accrued expenses
|
733.6
|
588.4
|
|
Total current liabilities
|
1,409.6
|
1,241.8
|
|
Bank loans
|
1,108.5
|
374.7
|
|
Leases long-term
|
56.7
|
60.2
|
|
Deferred taxes
|
129.6
|
130.7
|
|
Other long-term liabilities
|
74.5
|
74.8
|
|
Total long-term liabilities
|
1,369.3
|
640.3
|
|
Total liabilities
|
2,778.9
|
1,882.1
|
|
Total stockholders´ equity
|
2,156.0
|
2,109.8
|
|
Total liabilities and stockholders´ equity
|
4,934.9
|
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
|
|||||
|
March 31,
|
|||||
|
2025
|
2024
|
||||
|
Maritime
|
391.5
|
192.1
|
|||
|
Inland Logistics
|
20.1
|
24.5
|
|||
|
Warehousing Services
|
15.8
|
35.2
|
|||
|
Maritime Infrastructure
|
59.4
|
92.4
|
|||
|
Revenue from freight and services
|
|
486.9
|
344.1
|
||
|
Maritime
|
(282.0)
|
(167.2)
|
|||
|
Inland Logistics
|
(17.6)
|
(19.9)
|
|||
|
Warehousing Services
|
(33.2)
|
(29.8)
|
|||
|
Maritime Infrastructure
|
(43.4)
|
(61.6)
|
|||
|
Cost of freight and services
|
|
(376.2)
|
(278.4)
|
||
|
Maritime
|
(13.8)
|
(10.7)
|
|||
|
Inland Logistics
|
(4.0)
|
(2.4)
|
|||
|
Warehousing Services
|
(2.0)
|
(18.0)
|
|||
|
Maritime Infrastructure
|
(3.3)
|
(2.0)
|
|||
|
Depreciation and amortization
|
|
(23.1)
|
(33.1)
|
||
|
Maritime
|
95.7
|
14.3
|
|||
|
Inland Logistics
|
(1.5)
|
2.2
|
|||
|
Warehousing Services
|
(19.4)
|
(12.5)
|
|||
|
Maritime Infrastructure
|
12.7
|
28.7
|
|||
|
Results by business
|
|
87.5
|
32.6
|
||
|
Corporate expenses
|
(15.2)
|
(13.8)
|
|||
|
Corporate depreciation and amortization
|
(0.5)
|
(0.5)
|
|||
|
Non-recurring (expenses) income
|
(6.6)
|
9.3
|
|||
|
Operating (loss) gain
|
|
65.3
|
27.7
|
||
|
Financial (expenses) income - Net
|
(27.3)
|
(6.8)
|
|||
|
Leases financial expenses
|
(2.8)
|
(5.2)
|
|||
|
Exchange gain (loss) - Net
|
11.0
|
(5.8)
|
|||
|
Net financial cost
|
|
(19.0)
|
(17.9)
|
||
|
(loss) gain before taxes
|
|
46.2
|
9.7
|
||
|
Provision for taxes
|
|
0.0
|
0.0
|
||
|
Net (loss) gain for the period
|
|
46.2
|
9.7
|
||
|
Attributable to:
|
|||||
|
Minority interest
|
|
(0.0)
|
(0.0)
|
||
|
Equity holders of GTMM, S.A.B.
|
|
46.3
|
9.7
|
||
|
Weighted average outstanding shares (millions)
|
174.55
|
174.55
|
|||
|
Income (loss) earnings per share (pesos/share)
|
0.26
|
0.06
|
|||
|
Outstanding shares at end of period (millions)
|
174.55
|
174.55
|
|||
|
Income (loss) earnings per share (pesos/share)
|
|
0.26
|
0.06
|
||
*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
|
|||||
|
March 31,
|
|||||
|
|
2025
|
2024
|
|||
|
Net gain (loss) for the period
|
46.2
|
9.7
|
|||
|
Depreciation & amortization
|
23.7
|
33.6
|
|||
|
Deferred taxes
|
(1.1)
|
(1.7)
|
|||
|
Other non-cash items
|
28.7
|
19.4
|
|||
|
Total non-cash items
|
|
51.3
|
51.3
|
||
|
Changes in assets & liabilities
|
(164.9)
|
1.6
|
|||
|
Total adjustments
|
|
(113.6)
|
52.9
|
||
|
Net cash provided by (used in) operating activities
|
|
(67.4)
|
62.6
|
||
|
|
|
|
|
||
|
Proceeds from sale of assets
|
0.8
|
0.4
|
|||
|
Payments for purchase of assets
|
|
(634.5)
|
(102.7)
|
||
|
Net cash provided by (used in) investment activities
|
|
(633.7)
|
(102.4)
|
||
|
Short-term borrowings (net)
|
(40.4)
|
(4.1)
|
|||
|
Repayment of leases
|
(3.0)
|
(14.4)
|
|||
|
Proceeds from (repayment of) long-term debt
|
805.0
|
(0.8)
|
|||
|
Net cash provided by (used in) financing activities
|
761.6
|
(19.3)
|
|||
|
Exchange effect on cash
|
|
(3.4)
|
2.3
|
||
|
Net increase (decrease) in cash
|
|
57.1
|
(56.8)
|
||
|
Cash at beginning of period
|
|
207.1
|
100.0
|
||
|
Cash at end of period
|
|
264.2
|
43.2
|
||
Prepared in accordance with International Financial Reporting Standards as issued by the International Accounting Standards Board.
Exhibit 99.2
Brief Description of Notices to CNBV and BMV of
Financial Statements for the First-Quarter 2025 Financial Results
Required quartely financial information consists of the financial information filed with the CNBV and the BMV
(under discontinuing operations). Specifically required are, among other data, balance sheet, income statement, profit and loss statement, certain financial ratios, a descriptive breakdown of all issued shares and list of directors and officers.