Grupo Tmm Sab Class A · BMV:TMM/A
Grupo Tmm Sab Class A — Q3 2008 Earnings Presentation
17 slides from Grupo Tmm Sab Class A's earnings presentation, Oct 29, 2008
Slide 1: Third-Quarter & Nine-Months 2008 Financial and Operational Review
Third-Quarter & Nine-Months 2008 Financial and Operational Review October 29, 2008
Slide 2: Forward-Looking Statements
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 t
Slide 3: On Today's Call...
On Today’s Call... Jose Serrano, Chairman and CEO Fernando Sanchez, President Jacinto Marina, Chief Financial Officer Luis Ocejo, Maritime and Ports Director 3
Slide 4: 2008 Strategic Initiatives
Grupo [Tmu 1M 2008 Strategic Initiatives
Slide 5: Financial Strategy - Long Term Peso Financing
Financial Strategy- Long Term Peso Financing 20-year Mexican Trust Certificates Program (“MTC”) Non recourse to TMM First 3 years – Interest rate cap at 9.25% Strengthening of U.S. dollar versus peso Reduced outstanding balance of MTC in 2008 √ July 1 = $868M √ Sept. 30 = $798M* √ Oct. 27
Slide 6: Financial Strategy - Long Term Peso Financing
Financial Strategy- Long Term Peso Financing Of TMM’s total debt, only: 18% is denominated in U.S. dollars 1.1%, or $10.8M, is short-term debt Earliest significant maturity - October 2010 TMM’s total debt: Supported by approximately $380 million of contracted revenues Total value of TM
Slide 7: Central Bank Preferred Pesos/US Dollar Exchange Rate
Central Bank Preferred Pesos/US Dollar Exchange Rate 13.50 13.00 Average Last business day 12.50 12.00 12.33 11.50 11.00 10.90 10.85 10.50 10.65 10.00 10.10 9.50 DEC 2007 JAN FEB MAR APR MAY JUN JUL AUG SEP Oct-21 2008 Source: Banco de México 7
Slide 8: TMM Going Forward
TMM Going Forward Continued growth of Maritime business Larger owned fleet Medium- and long-term contracts to produce revenues and cash flows to service peso denominated debt Offshore and product tanker fleet under contract - no exposure to fluctuating fuel prices TMM to strengthen and gro
Slide 9: Delivery of Additional Vessels
Delivery of Additional Vessels During Q3 2008 3 new product tankers delivered and currently working in the international spot market During Q4 2008 3 additional offshore vessels commence 2- and 3-year contracts with Pemex During Q1 2009 3 additional offshore vessels to be delivered Rem
Slide 10: Improved Profits and Cash Flows Will Position TMM for Long-Term Success
Restructuring Focus on TMM’ s core business - Maritime Enact corporate restructuring Sell certain non-strategic and non-productive assets Reduce personnel and related costs Given current market conditions, re-evaluating alternatives to refinance securitization facility Improved Profits and
Slide 11: Third-Quarter & Nine-Months 2008 Operating and Financial Results
Third-Quarter & Nine-Months 2008 Operating and Financial Results
Slide 12: Nine Months 2008 Maritime Operations
Nine Months 2008 Maritime Operations Revenue up 15.1% to $151.7M Improved average daily rate in offshore segment 3 additional vessels in operation Transportation income down 0.3M to $33.3M Parcel tanker business √ Increased fuel costs √ 3 vessels in mandatory dry dock (1 in each quarter) √
Slide 13: Nine Months 2008 Port Operations
Nine Months 2008 Port Operations Revenues down $0.2M to $5.6M √ Lower volumes at shipping agencies √ Increased revenues at the cruise ship and auto handling segments at Acapulco Will meet 2008 EBITDA goal Automobiles 40,000 26.7% 35,000 30,000 37,062 25,000 29,244 20,000 15,000 10,000 5,000 0 9-
Slide 14: Nine Months 2008 Logistic Operations
Nine Months 2008 Logistic Operations Revenues up 34.2% to $106M Incremental revenues at trucking √ Improved freight volumes √ Extended contracts and new costumers Increased revenues at warehousing √ Start of peak season=higher volumes Transportation loss of $6.6M Non-recurring costs at aut
Slide 15: YTD Results and Year End Estimates
YTD Results and Year End Estimates Q3 Change 9 Months Change At December 31, 2008 2007 % 2008 2007 % *2008 2007 Revenues 95.4 76.9 24% 273.8 218.8 25% 370.9 303.3 Transportation Income 0.5 5.3 -91% 12.0 18.2 -34% 21.5 23.7 EBITDA 9.2 12.0 -24% 37.9 38.3 -1% 60.2 52.4 Net Financial Gain (Costs) 13.7
Slide 16: Total Net Debt
Total Net Debt** As of September 30, 2008 * Mexican Trust Certificates (MTC): Non-recourse secured portion $706.2 Non-recourse unsecured portion 91.8 Total MTC $798.0 Securitization Facility 118.6 Other Corporate Debt 76.5 Total Debt $993.1 Unsecure portion of the MTC 91.8 Cash and reserves 281.7 To
Slide 17: Third-Quarter & Nine-Months 2008 Financial and Operational Review
Third-Quarter & Nine-Months 2008 Financial and Operational Review October 29, 2008