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A record half

09 Sep 2010

MEXICO: According to results announced by its parent Grupo México, Ferromex achieved a new record by hauling 22365 million tonne-km in the first half of 2010, an 18·6% increase on the year before and up 12·1% on the previous record set in 2008.

Between January and June 2010, turnover was up at US$573·5m from US$430·5m the year before, with Ebitda also up at US$197m from US$126·3m. Grupo México is planning to invest US$146m in its railway division during 2010, including the acquisition of 44 new locomotives for Ferromex and development of a yard at Río Escondido to increase capacity through the US border crossing at Piedras Negras.

Traffic at Ferrosur was 3565 tonne-km in the first half of 2010, up 4·6% on the year before, with turnover up at US$134·2m from US$107·1m and Ebita up at US$35·2m from US$29·9m. Although wholly owned by ITM in which Grupo México has a 75% stake, Ferrosur’s results are reported separately pending approval by the Federal Competition Commission of an acquisition completed in December 2005.