Grupo TMM Reports Second-Quarter 2009 Financial Results

MEXICO CITY--(Marketwire - July 28, 2009) - Grupo TMM, S.A.B. (NYSE: TMM) (BMV: TMM A) ("TMM" or the "Company"), a Mexican intermodal transportation and logistics company, reported today its financial results for the second quarter and first six months of 2009.

MANAGEMENT OVERVIEW

José F. Serrano, chairman and chief executive officer of Grupo TMM, said, "Our results in the first six months of 2009 demonstrate the resilience and long-term viability of our Maritime assets and reaffirm the long-term strength of our Company. Despite weak global economic conditions, maritime revenues improved through the first six months of 2009. Our unique market position should provide us the opportunity to grow once the global economy stabilizes and markets return to a period of steady growth.

"Despite the strength of TMM's Maritime assets and operations, weak economic conditions in Mexico negatively impacted other operations in the first half of this year. Leading financial institutions consider the second quarter of 2009 as the worst quarter for the Mexican economy since 1995. Unemployment hit a high of 6.8 percent in May; annualized inflation was 5.7 percent in June; total production of automobiles decreased 42.9 percent in the first six months of the year; Mexico's trade balance deficit was negative by $1.2 billion in the first six months of the year; and Federal fiscal revenue decreased 26.4 percent in May. Additionally, the swine flu outbreak paralyzed the Mexican economy at the end of April and the beginning of May, impacting GDP growth for the quarter. The Central Bank of Mexico is expecting GDP to decrease approximately 6 percent in 2009."

Serrano continued, "Consolidated revenues decreased 19.5 percent and 13.4 percent in the second quarter and first six months of 2009, respectively, compared to the same periods last year. The revenue decrease at Logistics was due mainly to the depreciation of the peso versus the dollar in the first six months of 2009 compared to the same period last year. Additionally this division experienced reduced volumes as a result of lower demand for consumer goods, retail and auto parts.

"The revenue decrease at Logistics was partially offset by improved Maritime revenues, specifically at the offshore segment, where revenues increased 47 percent in the second quarter and 40 percent in the first six months of 2009 when compared to the same periods of last year, mainly attributable to four more vessels in operation in the second quarter and to higher average daily rates in the first six months of 2009 than in the comparable periods in 2008.

"Notwithstanding the above mentioned revenue decreases, operating profit in the second quarter and first six months of 2009 remained fairly stable compared to the same periods last year, decreasing $0.4 million in the second quarter and $0.9 million in first six months of 2009. This is primarily due to decreased costs and expenses and to an improved profit at Maritime in the second quarter and first six months of 2009 compared to the same periods in 2008.

"The organizational restructuring the Company implemented during the second half of 2008 produced solid cost improvements in the first six months of 2009, as costs and operating expenses decreased 20.1 percent, or $29.8 million, and as corporate expenses decreased 14.7 percent, or $1.3 million, compared to the same periods of last year. EBITDA improved 20.9 percent to $35.3 million in the first six months of 2009 compared to $29.2 million in the 2008 period."

Serrano added, "As an aid to stimulate the Mexican economy, the Central Bank of Mexico cut interest rates in the first half of 2009, which will benefit the debt service of our Trust Certificates Program going forward. This debt is tied to the 28-day TIIE, or Mexico's Interbank Equilibrium Interest Rate, which was reduced 207 basis points from 7.15 percent to 5.08 percent in the second quarter of this year. These rate reductions will represent a significant decrease in the interest cost of this debt.

"We have set our business goals for 2009 in the context of a slowing economy, and we believe the Company is well positioned to withstand a decline in the overall maritime transportation market for three primary reasons. First, we have major competitive advantages due to our modern, first-class offshore and product tanker fleet. Second, the Mexican Navigation Law favors Mexican owned and flagged vessels. Finally, the vast majority of our maritime business is based on medium- and long-term contracts.

"Our Maritime division's growth has been driven mainly by improvements in our offshore vessels operating metrics and by continuing to realize the benefits of the capital investments we have made to increase the operating technology of our fleet. Additionally, we have enhanced our vessel utilization, stemming from our ability to capitalize on greater scheduling flexibility. We have also renewed existing contracts and entered into new ones for 2009 and beyond, all at rates consistent with our expectations."

Serrano concluded, "During this challenging period, we continue to focus on cost control and strong operational performance, as we seek opportunities to lock in medium- and long-term contracts for our vessels. We are confident that our operations for the third and fourth quarters will trend favorably, as we continue to increase our revenue base with new contracts, and as we succeed in restructuring our corporate debt and in selling non-productive and non-strategic assets."

CONFERENCE CALL

TMM's management will host a conference call and Webcast to review financial and operational highlights on Wednesday, July 29 at 11:00 a.m. Eastern time. To participate in the conference call, please dial (877) 879-6201 (domestic) or (719) 325-4768 (international) at least five minutes prior to the start of the event. Accompanying visuals and a simultaneous Webcast of the meeting will be available at http://www.visualwebcaster.com/event.asp?id=59895.

A replay of the conference call will be available through August 12 at 11:59 p.m. Eastern time, by dialing (888) 203-1112 or (719) 457-0820, and entering passcode 8618439. On the Internet a replay will be available for 30 days at http://www.visualwebcaster.com/event.asp?id=59895.

Headquartered in Mexico City, TMM is a Mexican intermodal transportation and logistics company. Through its branch offices and network of subsidiary companies, TMM provides a dynamic combination of ocean and land transportation services. Visit TMM's Web site at www.grupotmm.com. The site offers Spanish/English language options.

Included in this press release 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; risks associated with the Company's reorganization and restructuring; the ability of the Company to reduce corporate overhead costs; the ability of management to manage growth and successfully compete in new businesses; and the ability of the Company to restructure or refinance its indebtedness. 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.

Financial tables follow...

                    Grupo TMM, S.A.B. and subsidiaries
                              Balance Sheet*
                          - millions of dollars -




                                                    June 30,   December 31,
                                                      2009         2008
                                                  -----------  -----------
Current assets:
Cash and cash equivalents                             108.155      168.447
                                                  -----------  -----------
Accounts receivable
   Accounts receivable - Net                           55.909       56.548
                                                  -----------  -----------
   Other accounts receivable                           36.018       23.750
                                                  -----------  -----------
   Prepaid expenses and others current assets          10.015       11.653
                                                  -----------  -----------
Total current assets                                  210.097      260.398
                                                  ===========  ===========
Property, machinery and equipment                     834.028      806.911
                                                  -----------  -----------
Cumulative Depreciation                              (131.585)    (124.396)
                                                  -----------  -----------
Property, machinery and equipment - Net               702.443      682.515
                                                  ===========  ===========
Other assets                                           51.108       47.821
                                                  -----------  -----------
Deferred taxes                                         97.276       97.276
                                                  -----------  -----------
Total assets                                        1,060.924    1,088.010
                                                  -----------  -----------
Current liabilities:
Bank loans and current maturities of long-term
 liabilities                                           13.379       21.063
                                                  -----------  -----------
Sale of accounts receivable                            15.783       14.976
                                                  -----------  -----------
Suppliers                                              25.184       33.039
                                                  -----------  -----------
Other accounts payable and accrued expenses            47.107       38.827
                                                  -----------  -----------
      Total current liabilities                       101.453      107.905
                                                  ===========  ===========
Long-term liabilities:
   Bank loans                                          60.355       64.795
                                                  -----------  -----------
   Trust certificates debt                            664.296      615.609
                                                  -----------  -----------
   Sale of accounts receivable                         93.784      101.035
                                                  -----------  -----------
   Other long-term liabilities                         28.172       27.483
                                                  -----------  -----------
Total long-term liabilities                           846.607      808.922
                                                  ===========  ===========
Total liabilities                                     948.060      916.827
                                                  -----------  -----------
Stockholders' equity
   Common stock                                       114.058      114.058
                                                  -----------  -----------
   Retained earnings                                   20.503       82.117
                                                  -----------  -----------
   Initial accumulated translation loss               (17.757)     (17.757)
                                                  -----------  -----------
   Cumulative translation adjusted                    (10.045)     (13.312)
                                                  -----------  -----------
                                                      106.759      165.106
                                                  -----------  -----------
   Minority interest                                    6.105        6.077
                                                  -----------  -----------
Total stockholders' equity                            112.864      171.183
                                                  -----------  -----------
Total liabilities and stockholders' equity          1,060.924    1,088.010
                                                  -----------  -----------

*Prepared in accordance with International Financial Reporting Standards
 as issued by the International Accounting Standards Board.




                    Grupo TMM, S.A.B. and subsidiaries
                         Statement of Operations*
                          - millions of dollars -

                                    Three Months Ended   Six Months Ended
                                         June 30,            June 30,
                                    ------------------  ------------------
                                      2009      2008      2009      2008
                                    --------  --------  --------  --------
  Ports                                0.961     1.804     2.848     4.235
  Maritime                            47.687    50.132   102.137    99.085
  Logistics                           23.836    36.704    45.717    69.371
  Corporate and others                 2.146     4.025     4.009     5.987
  Eliminations                        (0.084)   (0.105)   (0.200)   (0.201)
                                    --------  --------  --------  --------
Revenue from freight and services     74.546    92.560   154.511   178.477
                                    --------  --------  --------  --------

  Ports                               (1.038)   (1.417)   (2.202)   (2.973)
  Maritime                           (26.611)  (36.776)  (62.908)  (68.786)
  Logistics                          (25.427)  (37.055)  (48.624)  (70.576)
  Corporate and others                (2.584)   (4.049)   (4.751)   (5.913)
  Eliminations                         0.084     0.105     0.200     0.201
                                    --------  --------  --------  --------
Cost of freight and services         (55.576)  (79.192) (118.285) (148.047)
                                    --------  --------  --------  --------

  Ports                               (0.207)   (0.221)   (0.389)   (0.437)
  Maritime                            (6.821)   (3.875)  (13.646)   (7.500)
  Logistics                           (1.635)   (1.142)   (2.581)   (2.361)
  Corporate and others                (0.005)   (0.012)   (0.009)   (0.014)
                                    --------  --------  --------  --------
Depreciation of vessels and
 equipment                            (8.668)   (5.250)  (16.625)  (10.312)
                                    --------  --------  --------  --------

  Corporate expenses                  (3.787)   (3.983)   (7.324)   (8.589)
  Ports                               (0.284)    0.166     0.257     0.825
  Maritime                            14.255     9.481    25.583    22.799
  Logistics                           (3.226)   (1.493)   (5.488)   (3.566)
  Corporate and others                (0.443)   (0.036)   (0.751)    0.060
  Other (expenses) income - Net       (0.652)    1.283    (1.235)    0.384
                                    --------  --------  --------  --------
Operating Income                       5.863     5.418    11.042    11.913
                                    ========  ========  ========  ========
Financial (expenses) income - Net    (24.266)  (10.174)  (46.830)  (24.686)
                                    --------  --------  --------  --------
Exchange gain (loss) - Net           (47.466)   (8.498)  (25.401)  (10.388)
                                    --------  --------  --------  --------
Net financial cost                   (71.732)  (18.672)  (72.231)  (35.074)
                                    --------  --------  --------  --------
Gain (loss) before taxes             (65.869)  (13.254)  (61.189)  (23.161)
                                    ========  ========  ========  ========
Benefit (provision) for taxes         (0.557)   (1.460)   (0.402)   (1.460)
                                    --------  --------  --------  --------
Net income (loss) for the period     (66.426)  (14.714)  (61.591)  (24.621)
                                    --------  --------  --------  --------

Attributable to:
  Minority interest                   (0.080)    0.192     0.022     0.564
                                    --------  --------  --------  --------
Equity holders of GTMM, S.A.B.       (66.346)  (14.906)  (61.613)  (25.185)
                                    --------  --------  --------  --------

Weighted average outstanding shares
 (millions)                           55.227    56.704    55.227    56.802
Income (loss) earnings per share
 (dollars / share)                     (1.20)    (0.26)    (1.12)    (0.44)

Outstanding shares at end of period
 (millions)                           55.227    56.385    55.227    56.385
Income (loss) earnings per share
 (dollars / share)                     (1.20)    (0.26)    (1.12)    (0.45)
                                    --------  --------  --------  --------


*Prepared in accordance with International Financial Reporting Standards as
 issued by the International Accounting Standards Board.


                    Grupo TMM, S.A.B. and subsidiaries
                         Statement of Cash Flows*
                          - millions of dollars -



                                    Three Months Ended   Six Months Ended
                                         June 30,            June 30,
                                    ------------------  ------------------
                                      2009      2008      2009      2008
                                    --------  --------  --------  --------
Cash flow from operation
 activities:
Net  Income (loss) before
 discontinuing operations            (66.426)  (14.714)  (61.591)  (24.621)
                                    --------  --------  --------  --------
Charges (credits) to income not
 affecting resources:
      Depreciation & amortization     12.427     8.469    24.262    17.235
                                    --------  --------  --------  --------
      Other non-cash items            63.397    27.615    65.135    44.991
                                    --------  --------  --------  --------
   Total non-cash items               75.824    36.084    89.397    62.226
                                    --------  --------  --------  --------
      Changes in assets &
       liabilities                   (15.681)  (27.328)  (12.923)  (27.984)
                                    --------  --------  --------  --------
   Total adjustments                  60.143     8.756    76.474    34.242
                                    --------  --------  --------  --------
   Net cash (used in) provided by
    operating activities              (6.283)   (5.958)   14.883     9.621
                                    ========  ========  ========  ========
Cash flow from investing
 activities:
   Proceeds from sales of assets       6.141     0.481     7.452     0.519
                                    --------  --------  --------  --------
   Payments for purchases of assets  (11.719)  (47.611)  (38.743) (102.001)
                                    --------  --------  --------  --------
   Common stock  decrease of
    subsidiaries                                                    (0.490)
                                    --------  --------  --------  --------
   Dividends from non-consolidated
    subsidiaries                       0.643               0.643
                                    --------  --------  --------  --------
   Net cash used in investment
    activities                        (4.935)  (47.130)  (30.648) (101.972)
                                    ========  ========  ========  ========
Cash flow provided by financing
 activities:
   Short-term borrowings (net)        (0.512)   (0.217)   (0.939)    2.526
                                    --------  --------  --------  --------
   Sale (repurchase) of accounts
    receivable (net)                  (7.221)   (7.241)  (14.445)  (14.537)
                                    --------  --------  --------  --------
   Repayment of long-term debt       (24.564)  (52.119)  (33.190)  (56.863)
                                    --------  --------  --------  --------
   Proceeds from issuance of
    long-term debt                             149.161             202.411
                                    --------  --------  --------  --------
   Acquisition of treasury shares,
    net                                         (0.746)             (0.841)
                                    --------  --------  --------  --------
   Net cash (used in) provided by
    financing activities             (32.297)   88.838   (48.574)  132.696
                                    ========  ========  ========  ========
   Exchange losses on cash             9.553               4.047
                                    ========  ========  ========  ========
   Net (decrease) increase in cash   (33.962)   35.750   (60.292)   40.345
                                    --------  --------  --------  --------
   Cash at beginning of period       142.117    56.830   168.447    52.235
                                    --------  --------  --------  --------
   Cash at end of period             108.155    92.580   108.155    92.580
                                    --------  --------  --------  --------


*Prepared in accordance with International Financial Reporting Standards as
 issued by the International Accounting Standards Board.

Contact Information: TMM COMPANY CONTACT: Jacinto Marina Chief Financial Officer 011-525-55-629-8866 ext. 2901 Monica Azar Investor Relations 917-597-5361 or 011-525-55-629-8866 ext. 3421 AT DRESNER CORPORATE SERVICES: Kristine Walczak (investors, analysts, media) 312-726-3600