investor presentation december 2010. grupo tmm is… 2 …one of the largest integrated logistics...
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Investor Presentation
December 2010
2
Grupo TMM is…
Maritime 66%
Logistics 26%
Ports 8%
Revenues
…one of the largest integrated logistics and transportation companies in Mexico, providing
Maritime servicesLand transportation servicesIntegrated logistics servicesPorts and terminals management
…to international and domestic clients throughout Mexico
3
Investment Highlights
Excellent brand name and reputation across all divisions
Increased demand for exploration and distribution services within Mexico requires new generation of higher-rated and deeper-water capabilities
Mexican Navigation Law favors Mexican-flagged vessels
Improved debt profile through debt restructure
Strong, long-standing customer relationships and reputation for providing quality operations
Operating stability supported by fixed cash flows from medium and long-term period charters with quality counterparties
4
TMM’s Maritime Fleet
Product Tankers
Pacific Coast & Gulf of Mexico
Harbor TowageManzanillo
Fleet: 3231 owned
1 time-charter
Chemical Tankers
Gulf of Mexico inter-coastal services
Fleet: 65 owned
1 time-charter
Fleet: 5All owned
Fleet: 32 owned
1 time-charter
Offshore VesselsSound of Campeche
5
TMM’s Maritime Fleet
Offshore Vessels
Transport dry and liquid cargo from port terminals to offshore facilities
Anchor handling tug vessels
Fire fighting vessels, four-point mooring vessels, one process vessel
Crew to transport personnel and light cargo
Product Tankers
Transport of petroleum products mainly for Pemex Refinación under cabotage trades since 1992
6
TMM’s Maritime Fleet
Harbor Towage
Sole provider of harbor towing services at Port of Manzanillo since January 1997
Services approximately 1,700 vessels per year
Main clients: Maersk, CSAV, NYK, MSC, Hapag-Lloyd, Pemex
In 2006 concession renewed for 8 years until January 2015
Chemical Tankers
Transport of chemicals, vegetable oils and molasses in Gulf of Mexico
More than 90% of cargo transported under COA
Main customers: Celanese Mexicana, Dow Chemical, Petrocel
Dedicated facilities: Houston, Coatzacolacos, Mexico City
Houston
Altamira
Veracruz Coatzacoalcos
Houston
Altamira
VeracruzCoatzacoalcos
7
Ports and Terminals
Port of Acapulco
25-year concession since 1996
Operation and management of cruise ship terminal
Automobile terminal and warehouse for exports and imports
Shipping Agencies
Port agent and cargo supervision
Brokerage
Chartering and Bunkering
Tuxpan
Operation of multipurpose terminal
8
Ports and Terminals
Tampico
Stevedoring services for general cargo
TuxpanOperation of multipurpose terminal
Maintenance and Repair of containers
Terminals in Veracruz, Manzanillo, Mazatlán, Altamira, Ensenada, Aguascalientes and Mexico City
9
TMM Logistics
Integration of full intermodal
transportation infrastructure
Dedicated logistics trucking services
to major manufacturers and retailers throughout Mexico
Expanded integrated supply chain products for retail and manufacturing
3PL and 4PL logistics
Warehouse and auto hauling services
10
Third Quarter 2010Financial Results
Q3 2
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Q3 2
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October 29, 2010
Q3 2
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Included in this presentation are certain forward-looking statements within the meaning of Section 27A 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; the ability of the Company to reduce corporate overhead costs and the ability of management to manage growth and successfully compete in new businesses. 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.
Forward-Looking Statements
2
Q3 2
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On Today’s Call
José Serrano, Chairman and CEO
Jacinto Marina, Deputy CEO
Carlos Aguilar, CFO
Luis Ocejo, Maritime
Roberto Martínez, Ports and Terminals
3
Q3 2
010
Financia
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Consolidated Financial Results*Revenue and Operating Profit
4
Q3 2009
Q3 2010
9M 2009
9M 2010
$0
$50
$100
$150
$200
$250
$74.6 $74.8
$229.1 $231.4
Q3 2009 Q3 2010 9M 2009
9M 2010
$0
$5
$10
$15
$20
$25
$30
$3.8$8.4
$14.8
$26.8
+121.0%
+81.1%
+1.0%+0.3%
Revenue
Operating Profit
*Millions of U.S.$
Q3 2
010
Financia
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Consolidated Financial ResultsOperating Margin
5
2009 20100%
2%
4%
6%
8%
10%
12%
5.1%
11.2%
+5.1percentage
points
+6.1percentage
points
2009 20100%
2%
4%
6%
8%
10%
12%
14%
6.5%
11.6%
Third Quarter First Nine Months
Q3 2
010
Financia
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Consolidated Financial Results*EBITDA
6
2009 2010$0
$5
$10
$15
$20
$25
$16.0
$22.2
+39.5%+38.7%
2009 2010$0
$20
$40
$60
$80
$43.9
$67.4
$4.4
Third Quarter First Nine MonthsGain on sale of assets
*Millions of U.S.$
Q3 2
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Offshore and Product TankerData Snapshot
Q3 09 Q3 10
Revenue Available Days
2,568 2,335
Average Vessels 29 32
Utilization 96.5% 79.3%
Q3 09 Q3 10
Revenue Available Days
497 619
Average Vessels 6 7
Utilization 90.0% 99.5%
Offshore Fleet
Product Tanker Fleet
7
*Q3 2010 offhire days: Offshore fleet 609 days and product tanker fleet 3 days
Q3 2
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Financia
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TMM’s Maritime Fleet
Product Tankers
Pacific Coast & Gulf of Mexico
Harbor TowageManzanillo
Fleet: 32
Chemical Tankers
Gulf of Mexico inter-coastal services
Fleet: 6 Fleet: 5 Fleet: 3
Offshore VesselsSound of Campeche
8
Contract backlog of approximately $308.9 million
Q3 2
010
Financia
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Maritime’s Financial Results*Revenue and Operating Profit
9
Q3 2009
Q3 2010
9M 2009
9M 2010
$0
$30
$60
$90
$120
$150
$180
$49.2 $51.1
$151.3 $153.4
Q3 2009 Q3 2010 9M 2009
9M 2010
$0
$10
$20
$30
$40
$50
$14.0 $14.9
$39.1 $43.9
+6.4% +12.3%
+1.4%+3.9%
Revenue
Operating Profit
*Millions of U.S.$
Q3 2
010
Financia
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Maritime’s Financial ResultsEBITDA and EBITDA Margins
10
Q3 2009 Q3 2010 9M 2009
9M 2010
$0
$20
$40
$60
$80
$23.2 $25.8
$65.6$75.9
Q3 2009
Q3 2010
9M 2009
9M 2010
0%
10%
20%
30%
40%
50%
60%
47.1% 50.5%43.4%
49.5%
+3.4percentage
pts
+6.1percentage
pts
+15.7%
+11.2%
EBITDA*
EBITDA Margin
*Millions of U.S.$
Q3 2010 run rate of $103.2 million
Q3 2
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Financia
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Maritime’s Financial Results
Chemical Tankers $5.5
Tugboats$3.0
Product Tankers $10.5
Offshore Vessels $32.1
Q3 2010 Revenue
OffshoreIncreased revenue due to price adjustmentsUnchanged gross profit due to three unemployed vessels
Product tankersRevenue and profit increaseAll vessels working with contracts
Chemical tankersGross profit increase More efficient routes
Harbor towageIncreased vessel calls at Manzanillo
11
Q3 2
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Ports and Terminals’ Financial Results*Revenue and Operating Profit
12
Q3 2009 Q3 2010 9M 2009
9M 2010
$0
$4
$8
$12
$16
$20
$3.9 $5.5
$12.2
$17.4
Q3 2009 Q3 2010 9M 2009 9M 2010$0
$1
$2
$3
$4
$5
$0.2$1.0 $0.6
$4.4
+5x +7.3x+42.6%
+41.0%
Revenue
Operating Profit
*Millions of U.S.$
Q3 2
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Financia
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Ports and Terminals’ Financial ResultsAcapulco
13
9M 2009 9M 20100
20
40
60
80
100
120
54
100
+350.6%+85.2%
Cruise Ship Calls
Automobiles Handled
9M 2009 9M 20100
10,000
20,000
30,000
40,000
50,000
9,679
43,614
Q3 2
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Financia
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Ports and Terminals’ Financial Results*Maintenance and Repair
14
9M 2009 9M 2010$0
$1
$2
$3
$4
$5
$6
$3.8
$5.3
+63.6%+39.5%
Revenue Gross Profit
9M 2009 9M 2010$0.0
$0.4
$0.8
$1.2
$1.6
$2.0
$1.1
$1.8
*Millions of U.S.$
Q3 2
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Logistics’ Financial Results
Revenue down 15.8% in Q3 and down 7.8% in 9M 2010 year over year
Revenue reduced from sale of assets in April 2010
Revenue up at Warehousing and Auto hauling
Reduced operating losses in 2010 periods
15
Q3 2
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Total Net Debt*
Peso-denominated debt impacted by $14.8 million from appreciation of Peso vs. Dollar
Cash position increased $22.3 million, net
Of total debt, only 2.5%, or $21.4 million, is short-term
As of 6/30/10
As of 9/30/10
Mexican Trust Certificates**
$691.4 $759.1
Securitization Facility $16.0 $12.3
Other Corporate debt $82.4 $71.0
TOTAL DEBT $789.8 $842.4
Cash $85.0 $107.3
NET DEBT $704.8 $735.1
Exchange Rate:• 12.84 pesos/dollar at 6/30/10• 12.60 pesos/dollar at 9/30/10
*All numbers millions US$** 20 year term and non-recourse to Company
16
Q3 2
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Financia
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Third Quarter Accomplishments
Active asset management
Improved debt profile
Tight cost control efforts
Restricted share plan for executive officers and management
17
Q3 2
010
Financia
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TMM’s 5-year Growth Strategy
Increase penetration in Mexican ports
o Tuxpan - uniquely positioned property for container and liquid terminal for oil products
Add new vessels to TMM’s fleet
18
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