Grupo Tmm Sab 6-K, filed Jul 29, 2022
Grupo Tmm Sab (GTMAY)
6-K
2022-07-29
For: 2022-07-29
View Original
Added on
April 06, 2026
About this 6-K
Grupo Tmm Sab filed this 6-K on July 29, 2022.
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 JULY 2022
TMM Group, Inc.
(Translation of registrant’s name into English)
Av. de la Cuspide No.4755, Colonia Parques del Pedregal, Delegacion Tlalpan,
Mexico City, C.P. 14010 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: July 29, 2022
By:
______________________________________
/s/ Luis Rodolfo Capitanachi Dagdug
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 July 29, 2022 (GRUPO TMM REPORTS SECOND-QUARTER 2022 FINANCIAL RESULTS).
|
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Brief Description of Notices to CNBV and BMV of Financial Statements for the Second-Quarter 2022
Financial Results
|
TMM Company Contact: AT Dresner Corporate Services::
Luis Rodolfo Capitanachi Dagdug, CFO David Gutierrez (investors, analysts, media)
011-52-55-5629-8866 312-780-7204
luis.capitanachi@tmm.com.mx
dgutierrez@dresnerco.com
Miguel Angel Gonzalez, Investor Relations
011-52-55-5629-8866
miguel.a.gonzalez@tmm.com.mx
GRUPO TMM REPORTS SECOND QUARTER 2022 FINANCIAL RESULTS
(In Millions of Mexican Pesos)
Second Quarter 2022 Results Include:
|
o
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Stockholders’ Equity of $1,820.4 million.
|
|
o
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Financial Debt of 14.5 percent from Stockholders’ Equity.
|
|
o
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Significant Reduction of Corporate Expenses.
|
|
o
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Consolidated revenues increased 40.3 percent.
|
|
o
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Reactivation of our maritime industry related businesses.
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Mexico City, July 28, 2022 – 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 of 2022.
Grupo TMM is glad to inform that the Company has implemented a corporate restructure aiming at strengthening the Group’s executive
team. The Company has appointed Mr. Luis Manuel Ocejo Rodriguez as Deputy General Director of Grupo TMM. Ocejo has more than 40 years of experience in the Maritime industry. Mr. Ocejo has extensive knowledge and experience in the Company’s Shipyards
and Ports and Terminals businesses.
Also, as part of the above-mentioned restructure, during the first quarter of 2022 we reassigned the shipping agency business to the
Maritime Division, which was previously reported as part of the Ports and Terminals Division. Likewise, the Shipyard business has become a Business Division, which we have named Maritime Infrastructure, previously part of the Maritime Division.
Consolidated revenue in the second quarter of 2022 grew $121.3 or 40.3 percent, compared to the same period of previous year.
Consolidated revenue for the first six months of 2022 increased 46.4 percent to $832.9 million compared to $569.0 million for the same period of the previous year.
Year over year, our business Divisions revenue and
operating results grew primarily as result of the increase in our Maritime Division in the number of vessels operated in the offshore segment and, in the number of trips in the bulk carriers and chemical tankers segments, partially offset by a
scheduled dry dock of one of the vessels. Our Maritime businesses, a cornerstone of the growth strategy plan of this administration, is commencing to thrive with the operation of three specialized vessels . The following quarter we will
incorporate a fourth specialized vessel, continuing the improvement of the Company's results.
During the second quarter of 2022, investments have been made in our Maritime Infrastructure Division that we expect will improve its
productivity, serving more vessels and consequently generating greater profits in the remainder of the year. We are also analyzing some opportunities that might boost our Warehousing services Division over the next several quarters.
Consolidated EBITDA for the first six-month of 2022 registered $59.7 million.
Finally, as of June 30, 2022, Grupo TMM’s net debt was $146.3 million, and our cash position was $117.0 million.
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 -
|
June 30,
|
December 31,
|
|
|
2022
|
2021
|
|
|
Cash and cash in banks available
|
78.8
|
39.6
|
|
Restricted cash
|
38.2
|
48.2
|
|
Total cash and cash equivalents
|
117.0
|
87.8
|
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Accounts receivable – Net
|
427.7
|
466.1
|
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Other accounts receivable
|
250.5
|
69.1
|
|
Taxes to be recovered
|
179.3
|
202.9
|
|
Prepaid expenses and others current assets
|
71.6
|
69.2
|
|
Non-current assets held for sale
|
447.0
|
455.2
|
|
Total current assets
|
1,493.0
|
1,350.3
|
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Taxes to be recovered long term
|
280.0
|
280.0
|
|
Property, machinery and, equipment
|
1,652.4
|
1,645.3
|
|
Cumulative Depreciation
|
(179.5)
|
(176.8)
|
|
Property, machinery and, equipment – Net
|
1,472.9
|
1,468.6
|
|
Rights of use
|
326.0
|
337.2
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Other assets
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263.5
|
276.2
|
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Total assets
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3,835.4
|
3,712.3
|
|
Bank loans and current maturities of long-term liabilities
|
207.8
|
196.2
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Leases short-term
|
90.8
|
121.4
|
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Suppliers
|
355.9
|
437.0
|
|
Other accounts payable and accrued expenses
|
704.1
|
475.9
|
|
Total current liabilities
|
1,358.7
|
1,230.5
|
|
Bank loans
|
55.5
|
65.6
|
|
Leases long-term
|
263.1
|
288.5
|
|
Deferred taxes
|
170.4
|
196.1
|
|
Other long-term liabilities
|
167.4
|
112.5
|
|
Total long-term liabilities
|
656.4
|
662.6
|
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Total liabilities
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2,015.0
|
1,893.2
|
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Total stockholders´ equity
|
1,820.4
|
1,819.1
|
|
Total liabilities and stockholders´ equity
|
3,835.4
|
3,712.3
|
*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
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||||
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June 30,
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June 30,
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||||
|
2022
|
2021
|
2022
|
2021
|
||
|
Maritime
|
315.4
|
171.8
|
612.1
|
314.6
|
|
|
Ports and Terminals
|
43.6
|
61.5
|
88.4
|
124.3
|
|
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Warehousing Services
|
39.5
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30.8
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68.8
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59.9
|
|
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Maritime Infrastructure
|
23.6
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36.7
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63.6
|
70.1
|
|
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Revenue from freight and services
|
422.1
|
300.7
|
832.9
|
569.0
|
|
|
Maritime
|
(280.2)
|
(166.9)
|
(543.2)
|
(319.1)
|
|
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Ports and Terminals
|
(38.1)
|
(54.5)
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(79.3)
|
(113.1)
|
|
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Warehousing Services
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(28.9)
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(23.3)
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(53.5)
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(45.0)
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|
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Maritime Infrastructure
|
(18.0)
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(20.6)
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(42.4)
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(38.4)
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Cost of freight and services
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(365.2)
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(265.4)
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(718.5)
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(515.7)
|
|
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Maritime
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(3.6)
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(2.9)
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(10.2)
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(6.5)
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|
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Ports and Terminals
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(5.2)
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(8.6)
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(9.4)
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(17.7)
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|
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Warehousing Services
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(14.1)
|
(12.1)
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(26.6)
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(24.7)
|
|
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Maritime Infrastructure
|
(2.6)
|
(1.8)
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(5.3)
|
(3.5)
|
|
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Depreciation and amortization
|
(25.4)
|
(25.4)
|
(51.6)
|
(52.4)
|
|
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Maritime
|
31.7
|
2.0
|
58.7
|
(11.0)
|
|
|
Ports and Terminals
|
0.2
|
(1.7)
|
(0.3)
|
(6.5)
|
|
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Warehousing Services
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(3.4)
|
(4.7)
|
(11.4)
|
(9.9)
|
|
|
Maritime Infrastructure
|
3.0
|
14.3
|
15.8
|
28.1
|
|
|
Results by business
|
31.5
|
10.0
|
62.8
|
0.8
|
|
|
Corporate expenses
|
(18.4)
|
(31.4)
|
(35.6)
|
(71.7)
|
|
|
Corporate depreciation and amortization
|
(0.6)
|
(1.1)
|
(1.1)
|
(2.2)
|
|
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Non-recurring (expenses) income
|
(9.9)
|
(9.4)
|
(19.1)
|
(58.6)
|
|
|
Operating (loss) gain
|
2.7
|
(31.9)
|
6.9
|
(131.8)
|
|
|
Financial (expenses) income - Net
|
(6.7)
|
7.3
|
(16.1)
|
2.4
|
|
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Leases financial expenses
|
(10.7)
|
(23.4)
|
(18.6)
|
(33.5)
|
|
|
Exchange gain (loss) - Net
|
(6.1)
|
7.2
|
7.8
|
15.5
|
|
|
Net financial cost
|
(23.5)
|
(8.9)
|
(26.9)
|
(15.7)
|
|
|
(loss) gain before taxes
|
(20.9)
|
(40.8)
|
(19.9)
|
(147.5)
|
|
|
Provision for taxes
|
21.3
|
(2.8)
|
21.3
|
21.3
|
|
|
Net (loss) gain for the period
|
0.4
|
(43.6)
|
1.3
|
(126.2)
|
|
|
Attributable to:
|
|||||
|
Minority interest
|
(0.0)
|
(2.6)
|
(0.2)
|
(6.3)
|
|
|
Equity holders of GTMM, S.A.B.
|
0.4
|
(41.0)
|
1.5
|
(119.9)
|
|
|
Weighted average outstanding shares (millions)
|
102.18
|
102.18
|
102.18
|
102.18
|
|
|
Income (loss) earnings per share (pesos/share)
|
0.0
|
(0.4)
|
0.01
|
(1.2)
|
|
|
Outstanding shares at end of period (millions)
|
102.18
|
102.18
|
102.18
|
102.18
|
|
|
Income (loss) earnings per share (pesos/share)
|
0.0
|
(0.4)
|
0.01
|
(1.2)
|
|
*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,
|
||||
|
2022
|
2021
|
|
2022
|
2021
|
|
|
Net loss for the period
|
0.4
|
(43.6)
|
1.3
|
(126.2)
|
|
|
Depreciation & amortization
|
26.0
|
26.5
|
52.7
|
54.7
|
|
|
Deferred taxes
|
(21.3)
|
(0.2)
|
(25.7)
|
(25.2)
|
|
|
Other non-cash items
|
25.4
|
18.8
|
35.5
|
77.7
|
|
|
Total non-cash items
|
30.0
|
45.1
|
|
62.6
|
107.2
|
|
Changes in assets & liabilities
|
(12.3)
|
36.4
|
21.3
|
(47.8)
|
|
|
Total adjustments
|
17.7
|
81.4
|
|
83.9
|
59.4
|
|
Net cash provided by (used in) operating activities
|
18.1
|
37.9
|
|
85.2
|
(66.8)
|
|
|
|
|
|
|
|
|
Proceeds from sales of assets
|
8.7
|
0.1
|
9.1
|
83.8
|
|
|
Payments for purchases of assets
|
(6.7)
|
(9.3)
|
|
(8.1)
|
(12.5)
|
|
Net cash provided by (used in) investment activities
|
2.0
|
(9.2)
|
|
1.0
|
71.3
|
|
Short-term borrowings (net)
|
(12.5)
|
(3.1)
|
(5.7)
|
(10.2)
|
|
|
Repayment of leases
|
(21.3)
|
(18.5)
|
(45.1)
|
(44.7)
|
|
|
Proceeds from (repayment of) long-term debt
|
(2.3)
|
(1.9)
|
|
(4.0)
|
22.8
|
|
Net cash provided by (used in) financing activities
|
(36.1)
|
(23.5)
|
|
(54.8)
|
(32.1)
|
|
Exchange effect on cash
|
3.4
|
(6.4)
|
|
(2.1)
|
(1.2)
|
|
Net increase (decrease) in cash
|
(12.6)
|
(1.3)
|
|
29.2
|
(28.8)
|
|
Cash at beginning of period
|
129.6
|
115.5
|
|
87.8
|
143.0
|
|
Cash at end of period
|
117.0
|
114.2
|
|
117.0
|
114.2
|
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 Second-Quarter 2022 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.