EX-7.1 3 d917202dex71.htm EX-7.1 EX-7.1

Exhibit 7.1

Grupo TMM, S.A.B. and Subsidiaries

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES UNDER IFRS

(Amounts in thousands of Pesos)

 

     December 31,  
     2014     2013     2012     2011      2010  

Historical ratio:

            

Fixed charges:

            

Interest costs and amortization on debt discount or premium in all indebtedness

      855,028        942,817        981,425        1,038,288         983,801   

Portion of rent expense representative of interest factor (A)

      81,115        74,577        68,670        81,399         131,526   
  

 

 

    

 

 

    

 

 

    

 

 

     

 

 

  

Fixed charges

   936,143      1,017,394      1,050,095      1,119,687      1,115,327   
  

 

 

    

 

 

    

 

 

    

 

 

     

 

 

  

Earnings:

Pretax income from continuing operations

   (466,786 )    (483,252 )    (607,053 )    497,378      (767,737 ) 

Less:

Non-controlling interest

   2,421      4,985      5,338      12,539      20,814   

Equity investee (income) loss

   —        —        —        —        1,719   

Fixed charges

   936,143      1,017,394      1,050,095      1,119,687      1,115,327   

Less:

Capitalized interest

Earnings

   466,936      529,157      437,704      1,604,526      325,057   
  

 

 

    

 

 

    

 

 

    

 

 

     

 

 

  

Ratio of earnings to fixed charges

   (N/A )(B)    (N/A )(B)    (N/A )(B)    1.43      (N/A )(B) 
  

 

 

    

 

 

    

 

 

    

 

 

     

 

 

  

 

(A) The Company considered one-third of the rent expense as imputed interest factor.
(B) Due to the registrant’s loss in 2014, 2013, 2012 and 2010, the ratio of earning to fixed charges was less than 1:1. The registrant must generate additional earnings of $469.2 million, $488.2 million, $612.4 million, and $790.3 million, respectively, to achieve a coverage ratio of 1:1.