GRUPO TMM SAB (GTMAY) Form 20-F — Sep 10, 2026
Grupo TMM, S.A.B., a Mexican maritime transportation, ports and logistics company, filed its 2025 annual report on Form 20-F. Consolidated transportation revenues rose to Ps 1,908.6 million in 2025 from Ps 1,753.5 million in 2024, led by maritime operations at Ps 1,440.9 million and the Tampico shipyard at Ps 327.8 million. Debt remains substantial: Ps 1,262.2 million at December 31, 2025, easing to Ps 1,201.8 million by March 31, 2026, with 89.6% dollar-denominated and Ps 164.0 million owed to related parties. Management identified material weaknesses in internal control over financial reporting and concluded controls were not effective as of December 31, 2025.
Key figures
- Revenue
- Ps 1,908.6 million (FY2025 consolidated transportation revenues)
- Total Debt
- Ps 1,262.2 million (Dec 31, 2025); Ps 1,201.8 million (Mar 31, 2026)
- Revenue Yoy
- +8.8% (computed from stated Ps 1,753.5 million in FY2024)
- Shares Outstanding
- 174553127
- Employees
- 642
- Revenue fy2023
- Ps 1,218.6 million
- Revenue fy2024
- Ps 1,753.5 million
- Bank debt mar2026
- Ps 982.2 million
- Mud vessel financing
- $40.5 million via Inbursa at SOFR + 5%
- Capital increase 2023
- Ps 151,977,600.60 (72,370,286 shares at Ps 2.10)
- Long term debt mar2026
- Ps 865.5 million
- Mexico gdp growth 2025
- 0.6%
- Floating dock financing
- $16.8 million via Bancomext at SOFR + 2.35%
- Short term debt mar2026
- Ps 336.3 million
- Usd denominated debt pct
- 89.6% (Mar 31, 2026)
- Related party debt mar2026
- Ps 164.0 million
- Warehousing sale loi price
- Ps 40 million (advances of Ps 16.7 million received)
- Mexican crude avg price 2025
- $61.57/bbl
- Segment revenue maritime 2025
- Ps 1,440.9 million
- Segment revenue warehousing 2025
- Ps 56.8 million
- Offshore vessels chartered to pemex
- 5
- Segment revenue ports logistics 2025
- Ps 83.1 million
- Segment revenue maritime infrastructure 2025
- Ps 327.8 million
AI analysis
The rest of the AI analysis, red flags and sentiment are part of Signal8 Pro.
AI-generated analysis of a public disclosure. Not investment advice; verify against the original document.