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Grupo TMM, S.A.B. (OTC: GTMAY) reported a 23.5% increase in consolidated revenues for Q3 2021, reaching $371.3 million compared to $271.3 million in Q3 2020. Maritime revenue surged to $287.5 million, driven by the operation of specialized vessels and increased activity in bulk carriers. However, the company faced an operating loss of $11.2 million in Q3, largely from non-recurring operations. Net debt was $178.4 million, with stockholders’ equity reported at $2,084.5 million. Overall, TMM is capitalizing on strategic projects and partnerships.
Grupo TMM reported a second quarter revenue of $300.7 million, up 8.8% year-over-year. Despite this growth, the operating loss was $31.9 million, with significant non-recurring costs. Maritime revenue increased to $206.9 million, fueled by more bulk carrier stopovers, yet total revenue for the first half of 2021 fell to $569.0 million from $635.3 million. The company improved its financial position with a 37.9% reduction in financial expenses and a cash position of $114.2 million. The reactivation of cruises began in June, enhancing market opportunities.
Grupo TMM reported its Q1 2021 results, showing consolidated revenue of $268.2 million, down from $358.9 million year-over-year. The company faced a $99.9 million operating loss, largely impacted by a $49.2 million non-recurrent operation due to a vessel sale. Maritime revenue was $175.9 million, hindered by adverse weather. Net debt increased to $91.6 million, with total debt at $207.1 million. TMM aims to leverage post-pandemic recovery through strategic alliances and aims for operational growth.
Grupo TMM, S.A.B. (OTC: GTMAY) has announced the upcoming publication of its 2020 Annual Report and Q1 2021 financial results. These will be available in May 2021, with the annual report set for May 14 and the quarterly results for May 27. The delay in reporting is attributed to challenges posed by the COVID-19 pandemic, which resulted in limited access to facilities and required remote work for employees. This situation has affected the preparation time for the reports.
Grupo TMM, a Mexican maritime-management and logistics company, reported its fourth-quarter and full-year 2020 financial results. Total revenue for Q4 2020 was $296.5 million, down from $366.1 million in Q4 2019, while full-year revenue decreased to $1,203.1 million from $1,475.7 million. The company faced significant operational losses of $316.3 million, with 76% attributed to non-recurrent operations. However, a decrease in corporate expenses by 44.6% year-over-year and a strong cash position of $143 million were noted, alongside a stockholders’ equity of $2,247.6 million.
Grupo TMM, S.A.B. (OTC: GTMAY), a Mexican maritime and logistics company, reported its 2020 financial results. Consolidated revenue for Q4 2020 was $296.5 million, down from $366.1 million YoY; full-year revenue fell to $1,203.1 million from $1,475.7 million. The company experienced a consolidated operating loss of $316.3 million for the year. Despite challenges from the pandemic and economic slowdown, TMM reduced corporate expenses by 44%. Net debt stood at $39.7 million as of year-end 2020, with stockholders' equity at $2,095.1 million.
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