Grupo Tmm Sab Class A · BMV:TMM/A
Grupo Tmm Sab Class A — Q3 2009 Earnings Presentation
21 slides from Grupo Tmm Sab Class A's earnings presentation, Oct 30, 2009
Slide 1: Balance Sheet
Grupo TMM, S.A.B. and subsidiaries Balance Sheet* - millions of dollars – September 30, December 31, 2009 2008 Current assets: Cash and cash equivalents 99.770 168.447 Accounts receivable Accounts receivable - Net 62.252 56.548 Other accounts receivable 42.806 23.750 Prepaid expenses and others curr
Slide 2: Statement of Operations
Grupo TMM, S.A.B. and subsidiaries Statement of Operations* - millions of dollars - Three months ended Nine months ended September 30, September 30, 2009 2008 2009 2008 Ports 0.924 1.343 3.772 5.578 Maritime 49.171 52.602 151.308 151.687 Logistics 22.900 36.656 68.617 106.027 Corporate and others 1.
Slide 3: Statement of Cash Flows
Grupo TMM, S.A.B. and subsidiaries Statement of Cash Flows* - millions of dollars – Three months ended Year ended September 30, September 30, 2009 2008 2009 2008 Cash flow from operation activities: Net Income (loss) before discontinuing operations 0.490 13.969 (61.101) (10.652) Charges (credits) to
Slide 4: Third-Quarter 2009 Financial and Operational Review
Third‐Quarter 2009 Third‐ Financial and Operational Review October 29, 2009
Slide 5: 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 6: 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 3
Slide 7: Consolidated Operating & Financial Results
Consolidated Operating & Financial Results Revenue* Operating Profit* ‐16.3% $300 $20 $250 34.5% $15 $200 ‐21.8% $150 $273.8 $10 $100 $229.1 $4.7 million $14.8 $5 $11.0 $50 $95 4 $95.4 $74 6 $74.6 $3 8 $3.8 $0 $0 ‐$0.9 3Q 08 3Q 09 9M 08 9M 09 ‐$5 3Q 08 3Q 09 9M 08 9M 09 Operating Margin 6.1 percenta
Slide 8: Consolidated Operating & Financial Results: Corporate Expenses
Consolidated Operating & Financial Results Corporate Expenses* $16 22.5% $14 $12 $10 $ $8 34.4% $14.7 $6 $11.4 $4 $6.1 $2 $4.0 $0 3Q 08 3Q 09 9M 08 9M 09 Q309 Q309- As part of organizational restructuring and to further reduce costs eliminated TMM Global Logistics • Significant decline in internat
Slide 9: Consolidated Operating & Financial Results: EBITDA
Consolidated Operating & Financial Results EBITDA* $60 42.0% $50 $40 $30 119.2% $52.4 $20 $36.9 $10 $17.1 $0 $7.8 3Q 08 3Q 09 9M 08 9M 09 *All numbers in US$ Millions 6
Slide 10: Maritime
Maritime Revenue* Operating Profit* $200 ‐0.3% 0.3% $60 21 9% 21.9% $150 $40 $100 ‐6.5% 40.8% $151.7 $151.3 $20 $40.6 $50 $33.3 $52.6 $49.2 $10.3 $14.5 $0 $0 3Q 08 3Q 09 9M 08 9M 09 3Q 08 3Q 09 9M 08 9M 09 Operating Margin 9.9 percentage 4.9 percentage 40% points points 30% 20% 29.5% 26.8% 10% 19.6%
Slide 11: Maritime
Maritime Revenue Gross Profit 9M 2009 Offshore 9M 2009 Chemical Vessels Chemical Offshore Tankers Tankers Vessels $8.4 $0.7 $28.6 $37.7 $2.7 $3.4 Harbor $9.5 Harbor $2.8 Towage Towage Product Product Tankers Tankers Offshore revenue,, ggross p p profit up • More average vessels in operation : +4 i
Slide 12: Maritime EBITDA
Maritime EBITDA EBITDA* $80 32.2% $60 $40 42.1% $64.8 $20 $ $49.0 $15.9 $ $22.6 $0 3Q 08 3Q 09 9M 08 9M 09 *All numbers in US$ Millions 9
Slide 13: Four New Long-Term Contracts
Four New Long‐Term Contracts Offshore vessels • 1 new vessel began 5-year 5 year contract in mid-August mid August • 1 new vessel began 5-year contract in mid-October • 1 new vessel to begin 5-year contract in early November Product tankers • 1 vessel began 5-year contract in mid- August 10
Slide 14: TMM's Maritime Fleet
TMM’s Maritime Fleet Chemical Tankers Gulf of Mexico inter‐coastal services Fleet 2 o Fleet: owned ned and 2 time time‐charters charters Offshore Services Campeche Sound Fl t 31 owned Fleet: d & 1 time ti ‐charter h t Harbor Towage Services at Manzanillo Fleet: 5 owned Product Tankers Mainly serving
Slide 15: Offshore and Product Tanker Fleet Data Snapshot
Offshore and Product Tanker Fleet Data Snapshot Offshore Fleet Data Snapshot * Q308 Q309 Revenue Available Days 2,128 2,568 Average Vessels 25 29 Utilization 91.2% 96.5% Product Tanker Fleet Data Snapshot Q308 Q309 Revenue Available Days 739 497 Average Vessels 8 6 Utilization 99.0% 90.0% * Offshore
Slide 16: Ports
Ports Revenue down 32.1% in 9M 09 Operating profit down $0.5 million in 9M 09 Acapulco • Decreased revenues and volumes result of reduced auto exports to South America and Japan • Reduced cruise ship calls 13
Slide 17: Logistics
Logistics Weak Mexican economic conditions negatively impacted revenue and profit in 9M 09: • Total production of automobiles decreased 37.7% in 9M 09 over 9M 08 • Total trade decreased $91.5 billion January-August 2009 over same period 2008 • Annualized inflation of 4.9% in September • Unemployme
Slide 18: Total Net Debt
Total Net Debt As of As of June 30, 2009* September 30, 2009* Mexican Trust Certificates $666.2 $658.8 Securitization Facility 109.6 106.4 Other Corporate Debt 71 8 71.8 74 1 74.1 Total Debt $847.6 $839.3 Cash and reserves 108.2 99.8 Total Net Debt $739 4 $739.4 $739 5 $739.5 At September 30, tota
Slide 19: Debt Restructuring & Sale of Logistics
Debt Restructuring & Sale of Logistics Hoped to have actions completed by today’s call : • In final stages to reach agreement to refinance this debt despite the global credit markets, Mexican economy and Mexican regulations • Necessary for TMM’s TMM s renewed growth and improved shareholder return
Slide 20: Debt Restructuring & Sale of Logistics
Debt Restructuring & Sale of Logistics Debt restructuring and subsequent sale of non- productive and non non- strategic assets and operations operations, will: • De-lever the Company • E Ease financial fi i l costs t • Increase financial flexibility • Improve TMM’s operating profit • Create positi
Slide 21: Third-Quarter 2009 Financial and Operational Review
Third‐Quarter 2009 Third‐ Financial and Operational Review October 29, 2009