Grupo TMM (OTC: GTMAY) delivers improved 2025 profit and higher cash
Filing Impact
Filing Sentiment
Form Type
6-K
Rhea-AI Filing Summary
Grupo TMM reported stronger preliminary results for 2025, driven by higher asset utilization, better contract visibility and a more efficient operating structure. Full-year revenue reached
Total assets increased to
Positive
- Stronger profitability and cash generation: 2025 operating income increased to Ps 329.7 million and net income to Ps 341.3 million, while operating cash flow rose to Ps 595.9 million and cash and cash equivalents reached Ps 752.0 million at year-end.
Negative
- None.
Insights
Grupo TMM shows significantly stronger 2025 profitability and cash generation.
Grupo TMM delivered improved 2025 operating performance, with revenue of
The balance sheet expanded, with total assets of
Business mix is evolving: warehousing services revenue declined and the storage business ceased consolidation from
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 MARCH 2026
TMM Group, Inc.
(Translation of registrant’s name into English)
Lago Alberto No.442, P.5, 503-A, Colonia Anahuac, Delegacion Miguel Hidalgo,
Mexico City, C.P. 11320 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: March 3, 2026
By:
______________________________________
/s/ Verónica Tego Sánchez
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
|
EXHIBIT 99.1:
|
Press Release dated March 3, 2026 (GRUPO TMM REPORTS FOURTH QUARTER AND FULL YEAR 2025 FINANCIAL RESULTS).
|
Exhibit 99.1
TMM COMPANY CONTACT:
Verónica Tego Sánchez, CFO
011-52-55-5629-8866
veronica.tego@tmm.com.mx
GRUPO TMM REPORTS FOURTH QUARTER AND FULL YEAR 2025 FINANCIAL RESULTS
(In Mexican Pesos)
GRUPO TMM REPORTS IMPROVED OPERATING PERFORMANCE AND PROFITABILITY IN 2025
Preliminary full-year 2025 Results Include:
| o |
Consolidated revenues of Ps 1,909.0 million
|
| o |
EBITDA of Ps 437.0 million
|
| o |
Net income of Ps 341.3 million
|
| o |
Significant improvement in operating income
|
Mexico City, February 27, 2026 – Grupo TMM, S.A.B. (BMV: TMM A and OTC: GTMAY) (the “Company” or “TMM”), a Mexican maritime
transportation, logistics and maritime infrastructure services company, announced its preliminary financial results for the fourth quarter and full year 2025
 |
“Fiscal year 2025 marked the beginning of a period of more consistent performance for Grupo TMM, supported by the maturity of our operations and disciplined execution.
In 2026, we will continue strengthening our value proposition through digital tools, enhanced operating efficiency and sustainable practices aligned with our operations,” said
Vanessa Serrano, Chief Executive Officer of TMM.
|
Operational performance
During 2025, Grupo TMM reported higher asset utilization, improved contract visibility and a more efficient operating structure, resulting in consolidated revenue of Ps 1,909.0 million and operating income of Ps.
329.7 million.
Although full-year net income included favorable foreign exchange effects, the year-over-year improvement was primarily driven by operating performance.
Segment performance
| • |
Maritime – maintained high utilization levels and remained the main contributor to earnings, supported by improved contract visibility and consistent margin generation associated with fleet
utilization.
|
| • |
Maritime Infrastructure – the fourth quarter included closing adjustments that temporarily impacted profitability; however, the segment generated a higher contribution supported by expanded
operating capabilities and specialized services.
|
| • |
Land Logistics – maintained stable performance driven by operating efficiencies and higher volumes.
|
Overall, these factors reflect the maturation of the Company’s operating model.
Grupo TMM Reports Fourth Quarter and Full Year 2025 Financial Results
Page 2
Comparability of figures
As of October 1, 2025, the Company ceased consolidating the storage business; therefore, fourth-quarter and full-year figures partially include this segment. This effect solely reflects a change in consolidation scope and does not affect the
performance of the Company’s core businesses.
Outlook
For 2026, the Company will remain focused on the optimization of its strategic assets, maintaining financial discipline, and pursuing selective expansion into markets and segments aligned with its operating capabilities.
Headquartered in Mexico City, Grupo TMM is a Mexican company that provides comprehensive solutions in maritime transportation, maritime infrastructure, and ports &
terminals logistics operations, through its subsidiaries and affiliated offices. 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 Reports Fourth Quarter and Full Year 2025 Financial Results
Page 3
Grupo TMM, S.A.B. and Subsidiaries
Balance Sheet*
- Millions of Pesos -
|
December 31,
|
December 31,
|
|||||||
|
2025
|
2024
|
|||||||
|
Cash and cash in banks available
|
494.6
|
207.1
|
||||||
|
Restricted cash
|
257.4
|
-
|
||||||
|
Total cash and cash equivalents
|
752.0
|
207.1
|
||||||
|
Accounts receivable – Net
|
532.8
|
711.5
|
||||||
|
Other accounts receivable
|
145.5
|
235.2
|
||||||
|
Taxes to be recovered
|
143.0
|
195.2
|
||||||
|
Prepaid expenses and others current assets
|
34.8
|
37.2
|
||||||
|
Total current assets
|
1,608.0
|
1,386.2
|
||||||
|
Taxes to be recovered long term
|
0.0
|
63.0
|
||||||
|
Property, machinery and, equipment
|
2,936.4
|
2,377.6
|
||||||
|
Cumulative Depreciation
|
(185.9
|
)
|
(108.8
|
)
|
||||
|
Property, machinery and, equipment – Net
|
2,750.5
|
2,268.8
|
||||||
|
Rights of use
|
45.3
|
67.2
|
||||||
|
Other assets
|
223.6
|
206.7
|
||||||
|
Total assets
|
4,627.4
|
3,991.9
|
||||||
|
Bank loans and current maturities of long-term liabilities
|
315.3
|
260.6
|
||||||
|
Leases short-term
|
4.5
|
22.4
|
||||||
|
Suppliers
|
306.3
|
370.4
|
||||||
|
Other accounts payable and accrued expenses
|
428.1
|
588.4
|
||||||
|
Total current liabilities
|
1,054.2
|
1,241.8
|
||||||
|
Bank loans
|
896.9
|
374.7
|
||||||
|
Leases long-term
|
41.7
|
60.2
|
||||||
|
Deferred taxes
|
119.2
|
132.1
|
||||||
|
Other long-term liabilities
|
65.6
|
74.8
|
||||||
|
Total long-term liabilities
|
1,123.4
|
641.7
|
||||||
|
Total liabilities
|
2,177.6
|
1,883.5
|
||||||
|
Total stockholders´ equity
|
2,449.8
|
2,108.4
|
||||||
|
Total liabilities and stockholders´ equity
|
4,627.4
|
3,991.9
|
||||||
*Prepared in accordance with International Financial Reporting Standards as issued by the International Accounting Standards Board.
Grupo TMM Reports Fourth Quarter and Full Year 2025 Financial Results
Page 4
Grupo TMM, S.A.B. and Subsidiaries
*Statement of Income
- Millions of Pesos -
|
Three months ended
|
Twelve months ended
|
|||||||||||||||
|
December 31,
|
December 31,
|
|||||||||||||||
|
2025
|
2024
|
2025
|
2024
|
|||||||||||||
|
Maritime
|
306.9
|
429.6
|
1,440.9
|
1,283.0
|
||||||||||||
|
Inland Logistics
|
20.2
|
4.9
|
83.4
|
61.9
|
||||||||||||
|
Warehousing Services
|
0.0
|
15.1
|
56.8
|
146.4
|
||||||||||||
|
Maritime Infrastructure
|
51.1
|
53.6
|
327.8
|
262.2
|
||||||||||||
|
Revenue from freight and services
|
378.2
|
503.2
|
1,909.0
|
1,753.6
|
||||||||||||
|
Maritime
|
(202.9
|
)
|
(314.6
|
)
|
(1,000.8
|
)
|
(1,050.1
|
)
|
||||||||
|
Inland Logistics
|
(20.2
|
)
|
(19.7
|
)
|
(79.4
|
)
|
(74.7
|
)
|
||||||||
|
Warehousing Services
|
(0.8
|
)
|
(50.8
|
)
|
(109.0
|
)
|
(129.4
|
)
|
||||||||
|
Maritime Infrastructure
|
(49.0
|
)
|
(38.8
|
)
|
(229.8
|
)
|
(188.6
|
)
|
||||||||
|
Cost of freight and services
|
(272.8
|
)
|
(423.9
|
)
|
(1,419.0
|
)
|
(1,442.8
|
)
|
||||||||
|
Maritime
|
(16.3
|
)
|
(2.9
|
)
|
(68.5
|
)
|
(19.3
|
)
|
||||||||
|
Inland Logistics
|
(2.2
|
)
|
(3.9
|
)
|
(8.3
|
)
|
(13.0
|
)
|
||||||||
|
Warehousing Services
|
0.0
|
(2.2
|
)
|
(6.1
|
)
|
(56.1
|
)
|
|||||||||
|
Maritime Infrastructure
|
(3.0
|
)
|
(1.0
|
)
|
(14.6
|
)
|
(4.7
|
)
|
||||||||
|
Depreciation and amortization
|
(21.4
|
)
|
(10.0
|
)
|
(97.4
|
)
|
(93.1
|
)
|
||||||||
|
Maritime
|
87.7
|
112.1
|
371.7
|
213.6
|
||||||||||||
|
Inland Logistics
|
(2.1
|
)
|
(18.7
|
)
|
(4.3
|
)
|
(25.7
|
)
|
||||||||
|
Warehousing Services
|
(0.8
|
)
|
(37.9
|
)
|
(58.2
|
)
|
(39.0
|
)
|
||||||||
|
Maritime Infrastructure
|
(0.8
|
)
|
13.8
|
83.4
|
68.9
|
|||||||||||
|
Results by business
|
83.9
|
69.3
|
392.5
|
217.7
|
||||||||||||
|
Corporate expenses
|
(16.2
|
)
|
(13.2
|
)
|
(61.1
|
)
|
(59.2
|
)
|
||||||||
|
Corporate depreciation and amortization
|
(2.5
|
)
|
(0.5
|
)
|
(9.8
|
)
|
(2.2
|
)
|
||||||||
|
Non-recurring (expenses) income
|
18.0
|
7.1
|
8.1
|
56.3
|
||||||||||||
|
Operating (loss) gain
|
83.3
|
62.7
|
329.7
|
212.7
|
||||||||||||
|
Financial (expenses) income - Net
|
(26.4
|
)
|
(10.0
|
)
|
(112.5
|
)
|
(29.7
|
)
|
||||||||
|
Leases financial expenses
|
(1.6
|
)
|
(2.2
|
)
|
(9.1
|
)
|
(16.1
|
)
|
||||||||
|
Exchange gain (loss) - Net
|
25.9
|
(11.2
|
)
|
133.2
|
(52.0
|
)
|
||||||||||
|
Net financial cost
|
(2.1
|
)
|
(23.3
|
)
|
11.6
|
(97.9
|
)
|
|||||||||
|
(loss) gain before taxes
|
81.2
|
39.4
|
341.3
|
114.8
|
||||||||||||
|
Provision for taxes
|
0.0
|
0.0
|
0.0
|
0.0
|
||||||||||||
|
Net (loss) gain for the period
|
81.2
|
39.4
|
341.3
|
114.8
|
||||||||||||
|
Attributable to:
|
||||||||||||||||
|
Minority interest
|
(0.03
|
)
|
0.1
|
(0.2
|
)
|
0.3
|
||||||||||
|
Equity holders of GTMM, S.A.B.
|
81.2
|
39.3
|
341.5
|
114.5
|
||||||||||||
|
Weighted average outstanding shares (millions)
|
174.55
|
174.55
|
174.55
|
174.55
|
||||||||||||
|
Income (loss) earnings per share (pesos/share)
|
0.47
|
0.23
|
1.96
|
0.66
|
||||||||||||
|
Outstanding shares at end of period (millions)
|
174.55
|
174.55
|
174.55
|
174.55
|
||||||||||||
|
Income (loss) earnings per share (pesos/share)
|
0.47
|
0.23
|
1.96
|
0.66
|
||||||||||||
*Prepared in accordance with International Financial Reporting Standards as issued by the International Accounting Standards Board.
Grupo TMM Reports Fourth Quarter and Full Year 2025 Financial Results
Page 5
Grupo TMM, S.A.B. and subsidiaries
*Statement of Cash Flow
- Millions of Pesos -
|
Three months ended
|
Twelve months ended
|
|||||||||||||||
|
December 31,
|
December 31,
|
|||||||||||||||
|
2025
|
2024
|
2025
|
2024
|
|||||||||||||
|
Net gain (loss) for the period
|
81.2
|
39.4
|
341.3
|
114.8
|
||||||||||||
|
Depreciation & amortization
|
23.4
|
10.6
|
108.5
|
95.2
|
||||||||||||
|
Deferred taxes
|
0.0
|
(4.1
|
)
|
(1.5
|
)
|
(9.7
|
)
|
|||||||||
|
Other non-cash items
|
(0.2
|
)
|
115.2
|
(17.7
|
)
|
149.9
|
||||||||||
|
Total non-cash items
|
23.1
|
121.6
|
89.3
|
235.5
|
||||||||||||
|
Changes in assets & liabilities
|
415.1
|
(106.7
|
)
|
165.3
|
(111.4
|
)
|
||||||||||
|
Total adjustments
|
438.2
|
14.9
|
254.6
|
124.1
|
||||||||||||
|
Net cash provided by (used in) operating activities
|
519.4
|
54.3
|
595.9
|
238.9
|
||||||||||||
|
Proceeds from sale of assets/interest received
|
2.6
|
12.9
|
5.9
|
15.4
|
||||||||||||
|
Payments for purchase of assets
|
(29.5
|
)
|
(361.1
|
)
|
(684.5
|
)
|
(469.5
|
)
|
||||||||
|
Net cash provided by (used in) investment activities
|
(26.9
|
)
|
(348.2
|
)
|
(678.6
|
)
|
(454.0
|
)
|
||||||||
|
Short-term borrowings (net)
|
(6.8
|
)
|
(5.5
|
)
|
(98.0
|
)
|
(4.3
|
)
|
||||||||
|
Repayment of leases
|
(2.7
|
)
|
(5.4
|
)
|
(11.1
|
)
|
(67.2
|
)
|
||||||||
|
Proceeds from (repayment of) long-term debt
|
(5.3
|
)
|
345.3
|
765.5
|
386.3
|
|||||||||||
|
Net cash provided by (used in) financing activities
|
(14.8
|
)
|
334.4
|
656.4
|
314.7
|
|||||||||||
|
Exchange effect on cash
|
(4.85
|
)
|
2.9
|
(28.8
|
)
|
7.4
|
||||||||||
|
Net increase (decrease) in cash
|
472.8
|
43.5
|
544.9
|
107.1
|
||||||||||||
|
Cash at beginning of period
|
279.1
|
163.6
|
207.1
|
100.0
|
||||||||||||
|
Cash at end of period
|
752.0
|
207.1
|
752.0
|
207.1
|
||||||||||||
Prepared in accordance with International Financial Reporting Standards as issued by the International Accounting Standards Board.
FAQ
How did Grupo TMM (GTMAY) perform financially in full year 2025?
Grupo TMM reported improved 2025 results, with revenue of Ps 1,909.0 million, operating income of Ps 329.7 million, and net income of Ps 341.3 million. Management attributes the year-over-year improvement mainly to higher asset utilization, better contract visibility and a more efficient operating structure.
What were Grupo TMM’s 2025 cash flow and cash balances?
Grupo TMM generated strong operating cash flow of Ps 595.9 million in 2025. After investment outflows of Ps 678.6 million and net financing inflows, cash and cash equivalents increased to Ps 752.0 million at December 31, 2025, compared with Ps 207.1 million a year earlier.
How did Grupo TMM’s balance sheet change by December 31, 2025?
At December 31, 2025, Grupo TMM’s total assets were Ps 4,627.4 million and total liabilities Ps 2,177.6 million, resulting in stockholders’ equity of Ps 2,449.8 million. Bank loans, including current maturities, increased to a combined Ps 1,212.2 million compared with the prior year.
What segment trends are visible in Grupo TMM’s 2025 results?
In 2025, maritime revenue reached Ps 1,440.9 million and maritime infrastructure revenue was Ps 327.8 million, while warehousing services revenue declined to Ps 56.8 million. Management notes that the storage business stopped being consolidated from October 1, 2025, affecting reported warehousing figures.
Did foreign exchange movements affect Grupo TMM’s 2025 earnings?
Yes. Grupo TMM’s 2025 net income of Ps 341.3 million included favorable foreign exchange effects, with net exchange gain of Ps 133.2 million. However, the company states the year-over-year earnings improvement was driven primarily by operating performance rather than currency movements.
What priorities has Grupo TMM set for 2026?
For 2026, Grupo TMM plans to focus on optimizing strategic assets, maintaining financial discipline, and pursuing selective expansion into markets and segments aligned with its operating capabilities. These priorities are intended to build on the operating improvements achieved in 2025.
Filing Exhibits & Attachments
1 documentPress Releases
Grupo Tmm Sa
OTC:GTMAY
GTMAY Rankings
GTMAY Latest News
GTMAY Latest SEC Filings
Oct 29, 2025
[6-K] GRUPO TMM SAB Current Report (Foreign Issuer)