Mexico-based Grupo TMM reported a net loss of 202.5 million Mexican pesos (about US$16.5 million) in the fourth quarter of 2012, declining from a net loss of $3.2 million in the same quarter in 2011.
For full year 2012, the intermodal transportation and logistics company recorded a net loss of $53.6 million, plummeting from a profit of $16.4 million in 2011.
Total quarterly revenue was $67.2 million, dropping 7 percent from $72.2 million in the fourth quarter of 2011. Annual revenue decreased slightly from $272.5 million in 2011 to $271.7 million in 2012.
Revenue from maritime operations fell 11.4 percent year-over-year in the fourth quarter, but increased 2.6 percent year-over-year in 2012. Revenue from Grupo TMM’s ports and terminals rose 24.4 percent and 6.0 percent in the fourth quarter and full year, respectively, compared to the same periods in 2011. Logistics revenue decreased 6.8 percent and 9.7 percent in the fourth quarter and full year, respectively.