Grupo TMM reported a net loss of 165.6 million Mexican pesos (about US$13.4 million) in the first quarter of 2013, compared with a net loss of $11.3 million in the first quarter of 2012.
Quarterly revenue rose 3.5 percent, from $65.7 million in 2012 to $67.9 million in 2013, driven by higher revenue from the maritime and ports and terminals divisions, according to the Mexican intermodal transportation and logistics company. Maritime revenue improved 4.8 percent year-over-year, mainly fueled by a 7.9 percent revenue increase for the offshore segment. The ports and terminals division’s revenue rose 27.2 percent in the first quarter, compared to the same period in 2012, while the logistics segment’s revenue dropped 9.1 percent.
“In the 2013 first quarter, the company's offshore business continued to excel with 95.7 percent utilization, which produced increased revenue and operating profit in the 2013 first quarter compared to the 2012 first quarter,” said José F. Serrano, chairman and CEO of Grupo TMM, in a written statement. “Likewise, Ports and Terminals revenue and operating profit improved in the current period compared to last year, mainly due increased auto exports at Acapulco, particularly South America bound, and to higher volumes at maintenance and repair.”
“We continue to work on several projects to grow TMM,” Serrano added. “Although this has taken longer than we originally anticipated, we estimate providing an update to our shareholders in the second half of 2013.”