GMXT: industrial business leads growth in rail transportation
GMexico Transportes (GMXT) increased its revenues from its Industrial segment by 22% year-on-year to 4.608 billion pesos, the most dynamic among its businesses.
Industrials is the most diversified business segment, with markets such as the paper industry, white goods, machinery, the beer industry and new railroad cars, among others.
The company’s total sales in 2022 showed an increase of 6.6%, totaling Ps. 54.572 billion.
In particular, the Industrials segment posted fourth-quarter growth of 19% in revenues and 17% in cars, mainly due to the continued recovery in demand for new rail cars after the major difficulties derived from the Covid-19 pandemic.
In addition to the Industrials segment, the company’s business diversification strengths are evidenced by operating the following segments:
GMexico Transportes supplies grain to the livestock, poultry and swine industries, as well as to mills, oil mills and breweries.
It also transports corn syrup, starch, and sugar, among other products.
The company transports around 7.2 million goods annually in more than 700,000 containers for the domestic and international markets.
It has intermodal terminals in Guadalajara, Monterrey, Hermosillo, Chihuahua and Ciudad Obregón and serves the Valley of Mexico, Manzanillo, Veracruz, Altamira, Coatzacoalcos and cross-border via Piedras Negras, Ciudad Juárez and Nogales.
Its distribution network in Mexico is supported by Intermodal Mexico, a company that operates its terminals and provides integrated door-to-door services.
Financial results of GMXT
In Florida, through the Florida East Coast Railway (FEC), the company has terminals in Jacksonville, Titusville, Fort Pierce, Fort Lauderdale and Miami, a service that is complemented by the motor carrier Raven Transport.
Metals and Minerals
GMXT provides direct service to mines to transport raw materials in bulk, as well as to manufacturers to move finished products, serving diverse markets, including the automotive and construction industries.
Its network serves 12 of the main automotive plants in Mexico, representing 80% of the market.
The company has automotive terminals in Guadalajara, Monterrey and Hermosillo. It has a 76% share of Mexico’s automotive cargo exports.
In Florida, FEC has three terminals in Jacksonville, Titusville and Miami.
GMXT serves the inorganic chemicals, synthetic resins, fertilizers and petrochemicals industries, among others.
The company serves the hydrocarbon, coke, diesel, gasoline, asphalt and LP gas markets, among others, which represent a significant growth potential with new routes for importing refined products (diesel/gasoline) from the United States to supply the country’s main markets: Valle de México, Jalisco, Nuevo León, Chihuahua and others.
It also transports LPG from the US and Canada, through unit trains, to satisfy domestic and industrial demand in the states of Coahuila, Chihuahua, Sinaloa and Sonora.
Transports bulk and packaged product, serving the main cement plants in Mexico and Florida.