
| o |
Second quarter results were in line with Management’s expectations.
|
| o |
Revenue totaled Ps.261.1 million.
|
| o |
Operating Income of Ps.26.3 million.
|
| o |
Net income of Ps.34.3 million
|
![]() |
“During the first half of 2026, we continued executing our strategy with a clear focus on enhancing the profitability of our operations. At the same time, we continued strengthening our
capabilities while developing strategic partnerships that enhance Grupo TMM’s commercial reach and operating capabilities, with the objective of reinforcing our position across the maritime, logistics and infrastructure sectors.
We are confident that the initiatives currently underway will progressively strengthen our competitive positioning and our ability to generate sustainable long-term value for our
shareholders.”
Vanessa Serrano Cuevas
Chief Executive Officer
|
| • |
Maritime – Results reflected the completion of certain contracts, as well as lower activity levels for certain specialized offshore vessels, driven by the customer’s operational requirements during
the period, affecting first-half performance.
|
| • |
Maritime Infrastructure – The mix of services performed during the period differed from that of the first half of 2025, affecting year-over-year comparability.
|
| • |
Land Logistics – Maintained stable activity levels during the first half of the year, while continuing to contribute to the diversification of the Company’s business portfolio.
|
|
June 30,
|
December 31,
|
|||||||
|
2026
|
2025
|
|||||||
|
Cash and cash in banks available
|
502.6
|
494.6
|
||||||
|
Restricted cash
|
302.2
|
257.4
|
||||||
|
Total cash and cash equivalents
|
804.8
|
752.0
|
||||||
|
Accounts receivable – Net
|
410.2
|
540.6
|
||||||
|
Other accounts receivable
|
137.8
|
130.7
|
||||||
|
Taxes to be recovered
|
164.7
|
143.3
|
||||||
|
Prepaid expenses and others current assets
|
19.2
|
34.8
|
||||||
|
Total current assets
|
1,536.8
|
1,601.3
|
||||||
|
Property, machinery and, equipment
|
2,930.2
|
2,904.9
|
||||||
|
Cumulative Depreciation
|
(232.9
|
)
|
(185.4
|
)
|
||||
|
Property, machinery and, equipment – Net
|
2,697.3
|
2,719.5
|
||||||
|
Rights of use
|
41.9
|
45.3
|
||||||
|
Other assets
|
258.8
|
241.3
|
||||||
|
Total assets
|
4,534.8
|
4,607.4
|
||||||
|
Bank loans and current maturities of long-term liabilities
|
345.6
|
319.1
|
||||||
|
Leases short-term
|
4.8
|
4.5
|
||||||
|
Suppliers
|
309.8
|
328.5
|
||||||
|
Other accounts payable and accrued expenses
|
414.8
|
425.0
|
||||||
|
Total current liabilities
|
1,075.0
|
1,077.1
|
||||||
|
Bank loans
|
792.6
|
896.9
|
||||||
|
Leases long-term
|
39.2
|
41.7
|
||||||
|
Deferred taxes
|
120.3
|
120.3
|
||||||
|
Other long-term liabilities
|
65.7
|
65.6
|
||||||
|
Total long-term liabilities
|
1,017.8
|
1,124.5
|
||||||
|
Total liabilities
|
2,092.8
|
2,201.6
|
||||||
|
Total stockholders´ equity
|
2,442.0
|
2,405.8
|
||||||
|
Total liabilities and stockholders´ equity
|
4,534.8
|
4,607.4
|
||||||
|
Three months ended
|
Six months ended
|
|||||||||||||||
|
June 30,
|
June 30,
|
|||||||||||||||
|
2026
|
2025
|
2026
|
2025
|
|||||||||||||
|
Maritime
|
174.4
|
360.3
|
408.9
|
751.8
|
||||||||||||
|
Inland Logistics
|
20.5
|
21.1
|
40.1
|
41.2
|
||||||||||||
|
Warehousing Services
|
0.0
|
14.9
|
0.0
|
30.7
|
||||||||||||
|
Maritime Infrastructure
|
66.1
|
79.2
|
102.8
|
138.6
|
||||||||||||
|
Revenue from freight and services
|
261.1
|
475.4
|
551.8
|
962.3
|
||||||||||||
|
Maritime
|
(130.5
|
)
|
(247.7
|
)
|
(297.5
|
)
|
(529.7
|
)
|
||||||||
|
Inland Logistics
|
(19.4
|
)
|
(19.9
|
)
|
(39.1
|
)
|
(37.5
|
)
|
||||||||
|
Warehousing Services
|
0.0
|
(40.4
|
)
|
0.0
|
(73.6
|
)
|
||||||||||
|
Maritime Infrastructure
|
(41.1
|
)
|
(47.3
|
)
|
(75.2
|
)
|
(90.7
|
)
|
||||||||
|
Cost of freight and services
|
(191.0
|
)
|
(355.3
|
)
|
(411.9
|
)
|
(731.5
|
)
|
||||||||
|
Maritime
|
(16.0
|
)
|
(19.2
|
)
|
(32.5
|
)
|
(33.0
|
)
|
||||||||
|
Inland Logistics
|
(2.2
|
)
|
(4.0
|
)
|
(4.4
|
)
|
(8.0
|
)
|
||||||||
|
Warehousing Services
|
0.0
|
(2.0
|
)
|
0.0
|
(4.1
|
)
|
||||||||||
|
Maritime Infrastructure
|
(7.5
|
)
|
(3.9
|
)
|
(12.8
|
)
|
(7.2
|
)
|
||||||||
|
Depreciation and amortization
|
(25.7
|
)
|
(29.1
|
)
|
(49.8
|
)
|
(52.3
|
)
|
||||||||
|
Maritime
|
27.9
|
93.3
|
78.9
|
189.0
|
||||||||||||
|
Inland Logistics
|
(1.0
|
)
|
(2.8
|
)
|
(3.4
|
)
|
(4.3
|
)
|
||||||||
|
Warehousing Services
|
0.0
|
(27.6
|
)
|
0.0
|
(46.9
|
)
|
||||||||||
|
Maritime Infrastructure
|
17.5
|
28.0
|
14.7
|
40.7
|
||||||||||||
|
Results by business
|
44.4
|
91.0
|
90.2
|
178.6
|
||||||||||||
|
Corporate expenses
|
(20.0
|
)
|
(14.4
|
)
|
(36.8
|
)
|
(29.6
|
)
|
||||||||
|
Corporate depreciation and amortization
|
(2.5
|
)
|
(0.5
|
)
|
(4.9
|
)
|
(1.1
|
)
|
||||||||
|
Non-recurring (expenses) income
|
4.3
|
(3.0
|
)
|
3.4
|
(9.5
|
)
|
||||||||||
|
Operating (loss) gain
|
26.3
|
73.1
|
51.9
|
138.4
|
||||||||||||
|
Financial (expenses) income - Net
|
(17.9
|
)
|
(29.7
|
)
|
(36.8
|
)
|
(57.0
|
)
|
||||||||
|
Leases financial expenses
|
(1.6
|
)
|
(2.4
|
)
|
(3.2
|
)
|
(5.2
|
)
|
||||||||
|
Exchange gain (loss) - Net
|
30.1
|
75.1
|
26.9
|
86.1
|
||||||||||||
|
Net financial cost
|
10.6
|
43.0
|
(13.1
|
)
|
24.0
|
|||||||||||
|
(loss) gain before taxes
|
36.9
|
116.1
|
38.8
|
162.3
|
||||||||||||
|
Provision for taxes
|
(2.6
|
)
|
0.0
|
(2.6
|
)
|
0.0
|
||||||||||
|
Net (loss) gain for the period
|
34.3
|
116.1
|
36.2
|
162.3
|
||||||||||||
|
Attributable to:
|
||||||||||||||||
|
Minority interest
|
(0.05
|
)
|
(0.1
|
)
|
(0.0
|
)
|
(0.1
|
)
|
||||||||
|
Equity holders of GTMM, S.A.B.
|
34.3
|
116.2
|
36.2
|
162.5
|
||||||||||||
|
Weighted average outstanding shares (millions)
|
174.55
|
174.55
|
174.55
|
174.55
|
||||||||||||
|
Income (loss) earnings per share (pesos/share)
|
0.20
|
0.67
|
0.21
|
0.93
|
||||||||||||
|
Outstanding shares at end of period (millions)
|
174.55
|
174.55
|
174.55
|
174.55
|
||||||||||||
|
Income (loss) earnings per share (pesos/share)
|
0.20
|
0.67
|
0.21
|
0.93
|
||||||||||||
|
Three months ended
|
Six months ended
|
|||||||||||||||
|
June 30,
|
June 30,
|
|||||||||||||||
|
2026
|
2025
|
2026
|
2025
|
|||||||||||||
|
Net gain (loss) for the period
|
34.3
|
116.1
|
36.2
|
162.3
|
||||||||||||
|
Depreciation & amortization
|
28.2
|
29.6
|
55.5
|
53.3
|
||||||||||||
|
Deferred taxes
|
1.6
|
(0.4
|
)
|
0.0
|
(1.5
|
)
|
||||||||||
|
Other non-cash items
|
1.0
|
(49.7
|
)
|
22.4
|
(21.0
|
)
|
||||||||||
|
Total non-cash items
|
30.8
|
(20.5
|
)
|
77.8
|
30.8
|
|||||||||||
|
Changes in assets & liabilities
|
5.3
|
(27.8
|
)
|
70.7
|
(192.7
|
)
|
||||||||||
|
Total adjustments
|
36.1
|
(48.2
|
)
|
148.5
|
(161.9
|
)
|
||||||||||
|
Net cash provided by (used in) operating activities
|
70.4
|
67.8
|
184.7
|
0.4
|
||||||||||||
|
Proceeds from sale of assets/interest received
|
5.7
|
0.9
|
11.0
|
1.7
|
||||||||||||
|
Payments for purchase of assets
|
(23.1
|
)
|
(14.4
|
)
|
(32.5
|
)
|
(649.0
|
)
|
||||||||
|
Net cash provided by (used in) investment activities
|
(17.3
|
)
|
(13.6
|
)
|
(21.5
|
)
|
(647.3
|
)
|
||||||||
|
Short-term borrowings (net)
|
(9.2
|
)
|
(63.2
|
)
|
(55.5
|
)
|
(103.6
|
)
|
||||||||
|
Repayment of leases
|
(2.7
|
)
|
(2.6
|
)
|
(5.4
|
)
|
(5.6
|
)
|
||||||||
|
Proceeds from (repayment of) long-term debt
|
(4.1
|
)
|
(3.5
|
)
|
(43.8
|
)
|
801.5
|
|||||||||
|
Net cash provided by (used in) financing activities
|
(16.0
|
)
|
(69.3
|
)
|
(104.6
|
)
|
692.3
|
|||||||||
|
Exchange effect on cash
|
(5.89
|
)
|
(16.7
|
)
|
(5.8
|
)
|
(20.1
|
)
|
||||||||
|
Net increase (decrease) in cash
|
31.2
|
(31.8
|
)
|
52.8
|
25.4
|
|||||||||||
|
Cash at beginning of period
|
773.7
|
264.2
|
752.0
|
207.1
|
||||||||||||
|
Cash at end of period
|
804.8
|
232.5
|
804.8
|
232.5
|
||||||||||||