Investor Presentation
December 2010
Grupo TMM is…
…one of the largest integrated logistics
and transportation companies in
Mexico, providing
Revenues
Ports 8%
Maritime services
Land transportation services
Integrated logistics services
Ports and terminals management
Logistics 26%
Maritime 66%
…to international and domestic clients
throughout Mexico
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Investment Highlights
Excellent brand name and reputation across all divisions
Increased demand for exploration and distribution services within
Mexico requires new generation of higher-rated and deeper-water
capabilities
Mexican Navigation Law favors Mexican-flagged vessels
Improved debt profile through debt restructure
Strong, long-standing customer relationships and reputation for
providing quality operations
Operating stability supported by fixed cash flows from medium and
long-term period charters with quality counterparties
3
TMM’s Maritime Fleet
Chemical Tankers
Offshore Vessels
Product Tankers
Harbor Towage
Sound of Campeche
Pacific Coast & Gulf
of Mexico
Manzanillo
Gulf of Mexico intercoastal services
Fleet: 32
Fleet: 6
Fleet: 5
Fleet: 3
31 owned
1 time-charter
5 owned
1 time-charter
All owned
2 owned
1 time-charter
4
TMM’s Maritime Fleet
Offshore Vessels
Transport dry and liquid cargo from
port terminals to offshore facilities
Anchor handling tug vessels
Product Tankers
Transport of petroleum products
mainly for Pemex Refinación under
cabotage trades since 1992
Fire fighting vessels, four-point
mooring vessels, one process vessel
Crew to transport personnel and light
cargo
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TMM’s Maritime Fleet
Harbor Towage
Sole provider of harbor towing
services at Port of Manzanillo since
January 1997
Services approximately 1,700 vessels
per year
Main clients: Maersk, CSAV, NYK,
MSC, Hapag-Lloyd, Pemex
In 2006 concession renewed for 8
years until January 2015
Chemical Tankers
Transport of chemicals, vegetable oils
and molasses in Gulf of Mexico
More than 90% of cargo transported
under COA
Main customers: Celanese Mexicana,
Dow Chemical, Petrocel
Dedicated facilities: Houston,
Coatzacolacos, Mexico City
Houston
Houston
Altamira
Altamira
Veracruz
Veracruz
Coatzacoalcos
Coatzacoalcos
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Ports and Terminals
Port of Acapulco
25-year concession since 1996
Operation and management of cruise ship terminal
Automobile terminal and warehouse for exports and imports
Shipping Agencies
Port agent and cargo supervision
Brokerage
Chartering and Bunkering
Tuxpan
Operation of multipurpose terminal
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Ports and Terminals
Tampico
Stevedoring services for general cargo
Tuxpan
Operation of multipurpose terminal
Maintenance and Repair of containers
Terminals in Veracruz, Manzanillo, Mazatlán,
Altamira, Ensenada, Aguascalientes and Mexico City
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TMM Logistics
Integration of full intermodal
transportation infrastructure
Dedicated logistics trucking services
to major manufacturers and retailers throughout
Mexico
Expanded integrated supply chain products for
retail and manufacturing
3PL and 4PL logistics
Warehouse and auto hauling services
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Q3 2010 Financial Results
Third Quarter 2010
Financial Results
10
Q3 2010 Financial Results
October 29, 2010
Q3 2010 Financial Results
Forward-Looking Statements
Included in this presentation are certain forward-looking statements within the
meaning of Section 27A 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; the ability
of the Company to reduce corporate overhead costs and the ability of
management to manage growth and successfully compete in new businesses.
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.
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Q3 2010 Financial Results
On Today’s Call
José Serrano, Chairman and CEO
Jacinto Marina, Deputy CEO
Carlos Aguilar, CFO
Luis Ocejo, Maritime
Roberto Martínez, Ports and Terminals
3
Q3 2010 Financial Results
Consolidated Financial Results*
Revenue and Operating Profit
Revenue
Operating Profit
$250
$30
$200
$25
$20
$150
$229.1 $231.4
$100
$50
$15
$26.8
$10
$74.6
$14.8
$5
$74.8
$0
$0
Q3 2009 Q3 2010
9M 2009 9M 2010
+0.3%
+1.0%
$3.8
$8.4
Q3 2009 Q3 2010
+121.0%
9M 2009 9M 2010
+81.1%
*Millions of U.S.$
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Q3 2010 Financial Results
Consolidated Financial Results
Operating Margin
Third Quarter
First Nine Months
12%
14%
10%
12%
10%
8%
8%
6%
11.2%
4%
2%
6%
4%
5.1%
11.6%
6.5%
2%
0%
0%
2009
2010
+6.1
percentage
points
2009
2010
+5.1
percentage
points
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Q3 2010 Financial Results
Consolidated Financial Results*
EBITDA
Third Quarter
$25
$20
First Nine Months
Gain on sale of assets
$60
$15
$10
$80
$40
$4.4
$67.4
$22.2
$16.0
$20
$43.9
$5
$0
$0
2009
2010
+38.7%
2009
2010
+39.5%
*Millions of U.S.$
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Q3 2010 Financial Results
Offshore and Product Tanker
Data Snapshot
Offshore Fleet
Q3 09
Revenue Available Days
2,568
2,335
29
32
96.5%
79.3%
Average Vessels
Utilization
Q3 10
Product Tanker Fleet
Q3 09
Revenue Available Days
Average Vessels
Utilization
Q3 10
497
619
6
7
90.0%
99.5%
*Q3 2010 offhire days: Offshore fleet 609 days and product tanker fleet 3 days
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Q3 2010 Financial Results
TMM’s Maritime Fleet
Offshore Vessels
Product Tankers
Harbor Towage
Chemical Tankers
Sound of Campeche
Pacific Coast & Gulf
of Mexico
Manzanillo
Gulf of Mexico intercoastal services
Fleet: 32
Fleet: 6
Fleet: 5
Fleet: 3
Contract backlog of approximately $308.9 million
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Q3 2010 Financial Results
Maritime’s Financial Results*
Revenue and Operating Profit
Revenue
Operating Profit
$180
$50
$150
$40
$120
$30
$90
$151.3 $153.4
$60
$30
$49.2
$20
$10
$51.1
$0
$39.1
$14.0
$43.9
$14.9
$0
Q3 2009 Q3 2010
9M 2009 9M 2010
Q3 2009 Q3 2010
9M 2009 9M 2010
+3.9%
+1.4%
+6.4%
+12.3%
*Millions of U.S.$
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Q3 2010 Financial Results
Maritime’s Financial Results
EBITDA and EBITDA Margins
EBITDA*
EBITDA Margin
$80
60%
50%
$60
40%
$40
$65.6
$75.9
30%
20%
47.1%
50.5%
43.4%
49.5%
$20
$23.2
10%
$25.8
$0
0%
Q3 2009 Q3 2010
9M 2009 9M 2010
Q3 2009 Q3 2010
9M 2009 9M 2010
+11.2%
+15.7%
+3.4
percentage
pts
+6.1
percentage
pts
Q3 2010 run rate of $103.2 million
*Millions of U.S.$
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Q3 2010 Financial Results
Maritime’s Financial Results
Q3 2010 Revenue
Product
Tankers
$10.5
Tugboats
$3.0
Chemical
Tankers
$5.5
Offshore
Vessels
$32.1
Offshore
Increased revenue due to price
adjustments
Unchanged gross profit due to three
unemployed vessels
Product tankers
Revenue and profit increase
All vessels working with contracts
Chemical tankers
Gross profit increase
More efficient routes
Harbor towage
Increased vessel calls at Manzanillo
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Q3 2010 Financial Results
Ports and Terminals’ Financial Results*
Revenue and Operating Profit
Revenue
Operating Profit
$20
$5
$16
$4
$12
$3
$17.4
$8
$4.4
$2
$12.2
$4
$3.9
$1
$5.5
$0
$0
Q3 2009 Q3 2010
+41.0%
$0.2
$1.0
9M 2009 9M 2010
Q3 2009 Q3 2010
+42.6%
+5x
$0.6
9M 2009 9M 2010
+7.3x
*Millions of U.S.$
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Q3 2010 Financial Results
Ports and Terminals’ Financial Results
Acapulco
Cruise Ship Calls
Automobiles Handled
120
50,000
100
40,000
80
30,000
60
100
40
20
54
43,614
20,000
10,000
9,679
0
0
9M 2009
9M 2010
+85.2%
9M 2009
9M 2010
+350.6%
13
Q3 2010 Financial Results
Ports and Terminals’ Financial Results*
Maintenance and Repair
Revenue
Gross Profit
$6
$2.0
$5
$1.6
$4
$1.2
$3
$2
$5.3
$3.8
$1
$0.4
$0
$0.0
9M 2009
9M 2010
+39.5%
$1.8
$0.8
$1.1
9M 2009
9M 2010
+63.6%
*Millions of U.S.$
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Q3 2010 Financial Results
Logistics’ Financial Results
Revenue down 15.8% in Q3 and down 7.8% in 9M 2010
year over year
Revenue reduced from sale of assets in April 2010
Revenue up at Warehousing and Auto hauling
Reduced operating losses in 2010 periods
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Q3 2010 Financial Results
Total Net Debt*
As of
6/30/10
Mexican Trust Certificates**
As of
9/30/10
$691.4
$759.1
Securitization Facility
$16.0
$12.3
Other Corporate debt
$82.4
$71.0
$789.8
$842.4
$85.0
$107.3
$704.8
$735.1
TOTAL DEBT
Cash
NET DEBT
Exchange Rate:
• 12.84 pesos/dollar at 6/30/10
• 12.60 pesos/dollar at 9/30/10
Peso-denominated debt
impacted by $14.8
million from
appreciation of Peso
vs. Dollar
Cash position increased
$22.3 million, net
Of total debt, only
2.5%, or $21.4 million,
is short-term
*All numbers millions US$
** 20 year term and non-recourse to Company
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Q3 2010 Financial Results
Third Quarter Accomplishments
Active asset management
Improved debt profile
Tight cost control efforts
Restricted share plan for executive officers and
management
17
Q3 2010 Financial Results
TMM’s 5-year Growth Strategy
Increase penetration in Mexican ports
o Tuxpan - uniquely positioned property for container and liquid
terminal for oil products
Add new vessels to TMM’s fleet
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