EX-7.1 3 ex7_1.htm EXHIBIT 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,
  
   
2016
    
2015
    
2014
    
2013
    
2012
  
Historical ratio:
                              
Fixed charges:
                              
Interest costs and amortization on debt discount or premium in all indebtedness
    
869,267
      
800,232
      
855,508
      
943,126
      
981,219
  
Portion of rent expense representative of interest factor (A)
    
97,752
      
85,022
      
99,328
      
92,104
      
86,130
  
Fixed charges
    
967,019
      
885,254
      
954,836
      
1,035,230
      
1,067,349
  
Earnings:
                                        
Pretax income from continuing operations
    
(775,179
)
    
(301,930
)
    
(460,337
)
    
(521,849
)
    
(639,651
)
Less:
                                        
Non-controlling interest
    
1,480
      
(2,250
)
    
2,421
      
4,985
      
5,338
  
Equity investee (income) loss
    
-
      
-
      
-
      
-
      
-
  
Fixed charges
    
967,019
      
885,254
      
954,836
      
1,035,230
      
1,067,349
  
Less:
                                        
Capitalized interest
                                        
Earnings
    
190,360
      
585,574
      
492,078
      
508,396
      
422,360
  
Ratio of earnings to fixed charges
    
(N/A
)(B)
    
(N/A
)(B)
    
(N/A
)(B)
    
(N/A
)(B)
    
(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 2016, 2015, 2014, and 2013, the ratio of earning to fixed charges was less than 1:1. The registrant must generate additional earnings of $776.7, $299.7 million, $462.8, $526.8 million, and $645.0 million, respectively, to achieve a coverage ratio of 1:1.