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MX_GMEXICO 2023-06-30 Q2 — report review

Status: PARTIAL — incomplete — unset metrics listed below; Currency: USD; Amounts unit: millions; Forms: ✓ — —

Report published: Not stored for this period — set financial_report_date on the row (EDGAR filingDate, KASE change_date, or manual_catalog).

Full financial report: Link

PDF (local): /home/ubuntu/projects/frontier/data/raw_pdfs/MX_GMEXICO/2023-06-30_Q2_RF_EN_2023_2Q.pdf

To recalculate statement detection and previews from the PDF, use this link The default link runs in the background: a status panel shows phase, elapsed time, rough ETA, CUDA vs CPU, and OOM hints, then loads the finished report. Heavy mode with refresh does this automatically so reverse proxies do not return 502. Add &sync=1 only for one long blocking request (not recommended). You can use ?refresh=1, ?recalc=1, ?nocache=1, or ?recompute=1 on the URL. (block in the browser until done: synchronous refresh)

Metric mapping (value → extracted evidence)

Metric values use dashboard units where applicable; evidence is the stored snippet from the PDF text layer or OCR used during extraction.

Statement pages (discovery)

Statement previews & reconstructed tables

Highlights Yellow row = matched stored evidence label; orange cell = exact number used for that metric (hover row for details). Revenue Operating profit D&A EBITDA Net profit cash debt_short debt_long Assets Equity Operating CF Investing CF

Green / amber / red bars on the label column mark subtotal rows where summed detail lines match the reported total (heuristic). The table under each reconstructed grid lists every check (Σ detail vs reported, status).

P&L

Tables and checks run on 2 of 3 PDF pages for this form (timeout budget). Raise REPORT_REVIEW_HEAVY_RECON_PAGES for more.

P&L — PDF page 8

Camelot table (pages 8, primary page 8).

#	Joined label	Line item
0	S ECOND QUARTER RESULTS 2023	S ECOND QUARTER RESULTS 2023
1	Relevant Events	Relevant Events
2	Transportation Division	Transportation Division
3	In the Transportation Division, accrued net revenues in 2Q23 totaled US$1.57 billion, and EBITDA reached US$747	In the Transportation Division, accrued net revenues in 2Q23 totaled US$1.57 billion, and EBITDA rea
4	million, increasing 19.6% and 20.9%, respectively.	million, increasing 19.6% and 20.9%, respectively.
5	V olumes transported. - During the second quarter, volumes transported showed increases in almost all segments.	V olumes transported. - During the second quarter, volumes transported showed increases in almost al
6	S egments with the highest revenue growth in pesos during the second quarter of 2023 compared to the same	S egments with the highest revenue growth in pesos during the second quarter of 2023 compared to the
7	quarter of the previous year:	quarter of the previous year:
8	A utomotive segment. – It grew 52% in revenues and 21% in carloads during the second quarter as a result of	A utomotive segment. – It grew 52% in revenues and 21% in carloads during the second
9	increased production and a larger market share of the main car manufacturers.	increased production and a larger market share of the main car manufacturers.
10	C ement Segment. - It had a second quarter growth of 18% in revenues and 10% in carloads thanks to volume growth	C ement Segment. - It had a second quarter growth of 18% in revenues and 10% in carloads thanks to v
11	in the major cement companies due to increased demand in the U.S. and Mexico, as well as longer hauls on export	in the major cement companies due to increased demand in the U.S. and Mexico, as well as longer haul
12	routes.	routes.
13	I ndustrials Segment. - It showed growth of 14% in revenues and 9% in carloads during the second quarter, due to	I ndustrials Segment. - It showed growth of 14% in revenues and 9% in carloads during the second qua
14	the production of new rail cars and the increase in market share in groceries through the increase in our truck fleet.	the production of new rail cars and the increase in market share in groceries through the increase i
15	C hemicals and Fertilizers Segment. - It had second quarter growth of 12% in revenues and 1% in carloads, as plastic	C hemicals and Fertilizers Segment. - It had second quarter growth of 12% in revenues and 1% in carl
16	resin movements improved due to price competitiveness against Asia. In addition, there was greater market share	resin movements improved due to price competitiveness against Asia. In addition, there was greater m
17	and more volume thanks to investments in railway infrastructure at port terminals.	and more volume thanks to investments in railway infrastructure at port terminals.
18	P roductivity Improvements. - During 1H23, the operating practices implemented by GMXT, aligned with industry	P roductivity Improvements. - During 1H23, the operating practices implemented by GMXT, aligned with
19	standards in North America, strengthened the competitiveness of our service to the productive chains of Mexico,	standards in North America, strengthened the competitiveness of our service to the productive chains
20	the United States and Canada through our Falcon Premium service, which will operate between the three countries,	the United States and Canada through our Falcon Premium service, which will operate between the thre
21	with seamless rail connection.	with seamless rail connection.
22	T rain speed improved 3.6% from 37.3 km/hr to 38.6 km/hr, allowing us to provide an efficient and timely service	T rain speed improved 3.6% from 37.3 km/hr to 38.6 km/hr, allowing us to provide an efficient and ti
23	for our clients. Similarly, car dwell times improved by 17.2% decreasing to 21.4 hours, which allowed for a 6%	for our clients. Similarly, car dwell times improved by 17.2% decreasing to 21.4 hours, which allowe
24	improvement in car velocity. Likewise, the efficiency of our train operation allowed the utilization of horsepower	improvement in car velocity. Likewise, the efficiency of our train operation allowed the utilization
25	per ton to improve by 3.4% compared to the previous year. The performance of these indicators resulted in sound	per ton to improve by 3.4% compared to the previous year. The performance of these indicators result
26	operating results.	operating results.
27	I n the second half of 2023, GMXT will be focused on maintaining productivity levels and preserving the efficiency	I n the second half of 2023, GMXT will be focused on maintaining productivity levels and preserving
28	of all processes, to support the competitiveness of our service.	of all processes, to support the competitiveness of our service.
29	8	8

No subtotal/total rows matched the built-in patterns on this table (or fewer than two detail lines above each candidate).

P&L — PDF page 9

Camelot table (pages 9, primary page 9).

#	Joined label	Line item	Column 2	Column 3	Column 4	Column 5
0	I nfrastructure Division.- At the end of 2Q23, we achieved accumulated net revenues of US$335.5 million and	I	nfrastructure Division.- At the end of 2Q23, we achieved accumulated net revenues of US
1	EBITDA of US$161.9 million, with increases of 6.5% and 28.2%, respectively, compared to the same period of 2022.	EBITDA of US$161.9 million, with increases of 6.5% and 28.2%, respectively, compared to the same per
2	This is due to better results in all of our business lines: continuous operation and increased daily quotas of the 6	This is due to better results in all of our business lines: continuous operation and increased daily
3	drilling rigs, better results and lower pass-through gas costs in Energy, increased traffic and rates in Toll Roads,	drilling rigs, better results and lower pass-through gas costs in Energy, increased traffic and rate
4	higher production in Construction and Engineering, as well as the beginning of the integration of GM Inmobiliaria's	higher production in Construction and Engineering, as well as the beginning of the integration of GM
5	operations into the Division's results as of April 19. The Division's EBITDA margin reached 48%—an increase of 20%	operations into the Division's results as of April 19. The Division's EBITDA margin reached 48%—an i
6	over the previous year.	over the previous year.
7	Power Generation.- At the end of 2Q23, accrued revenues totaled US$134.8 million, which represented a 29.2%	Power Generation.- At the end of 2Q23, accrued revenues totaled US$134.8 million, which represented
8	decrease vs. 2022, mainly due to lower revenues at the "La Caridad" combined cycle plant, given the lower gas	decrease vs. 2022, mainly due to lower revenues at the "La Caridad" combined cycle plant, given the
9	costs and lower generation at the "El Retiro" wind farm, due to lower wind resources. However, EBITDA reached an	costs and lower generation at the "El Retiro" wind farm, due to lower wind resources. However, EBITD
10	accrued amount of US$67.4 million—14.4% better vs. 2022. Our new “Fenicias” wind farm is fully finished, and in	accrued amount of US$67.4 million—14.4% better vs. 2022. Our new “Fenicias” wind farm is fully finis
11	February this year, it received permission from the Energy Regulatory Commission (CRE, for its Spanish acronym)	February this year, it received permission from the Energy Regulatory Commission (CRE, for its Spani
12	for the commercial operations (it has all permits). At this time, we are waiting for the Federal Electricity Commission	for the commercial operations (it has all permits). At this time, we are waiting for the Federal Ele
13	(CFE, for its Spanish acronym) and the National Energy Control Center (CENACE, for its Spanish acronym) to allow	(CFE, for its Spanish acronym) and the National Energy Control Center (CENACE, for its Spanish acron
14	us to start operations.	us to start operations.
15	Perforadora México (PEMSA).- Accrued revenues at the end of 2Q23 were US$102.3 million and EBITDA totaled	Perforadora México (PEMSA).- Accrued revenues at the end of 2Q23 were US$102.3 million a
16	US$54.3 million, translating into increases of 33.8% and 56.9%, respectively, vs. the previous year. This is due to	US$54.3 million, translating into increases of 33.8% and 56.9%, respectively, vs. the previous year.
17	the 36.6% increase in daily quotas, the uninterrupted operation of our six rigs with an average cumulative efficiency	the 36.6% increase in daily quotas, the uninterrupted operation of our six rigs with an average cumu
18	of 99.2%, better results in cementing operations, and strict cost control.	of 99.2%, better results in cementing operations, and strict cost control.
19	México Compañía Constructora.– At the end of 2Q23, income accrued US$34.5 million and EBITDA US$9.2 million,	México Compañía Constructora.– At the end of 2Q23, income accrued US$34.5 million and EBITDA US$9.2
20	representing increases of 13.4% and 93.6%, respectively, vs. 2022. The increase in revenues and EBITDA is	representing increases of 13.4% and 93.6%, respectively, vs. 2022. The increase in reven
21	attributable to the increase in production from the start of new works and the continuity of existing projects.	attributable to the increase in production from the start of new works and the continuity of existin
22	Engineering Services.- At the end of 2Q23, revenues accrued US$17.2 million and EBITDA US$4.2 million,	Engineering Services.- At the end of 2Q23, revenues accrued US$17.2 million and EBITDA
23	translating into increases of 17.9% and 24.0%, respectively vs. the same period of the previous year. The increase	translating into increases of 17.9% and 24.0%, respectively vs. the same period of the previous year
24	in results is due to a significant improvement in production, supported by efficient management in the	in results	is due to a significant	improvement	in production, supported by efficient management	in the
25	"engineering" and "supervision" areas.	"engineering" and "supervision" areas.
26	Highways.- At the end of 2Q23, accrued revenues totaled US$31.6 million and EBITDA US$21.3 million, increasing	Highways.- At the end of 2Q23, accrued revenues totaled US$31.6 million and EBITDA US$21.3 million,
27	35.6% and 36.3%, respectively, compared to the same period of the previous year, due to the increase in tolls and	35.6% and 36.3%, respectively, compared to the same period of the previous year, due to the increase
28	an average daily traffic of 20,595 units—9.2% higher compared to 2022.	an average daily traffic of 20,595 units—9.2% higher compared to 2022.
29	Real Estate.- Mexico Proyectos y Desarrollos began consolidating the results of this new business unit on April 19.	Real Estate.- Mexico Proyectos y Desarrollos began consolidating the results of this new business un
30	At the end of 2Q23, accrued revenues totaled US$14.3 million and EBITDA, US$9.2 million. On a cumulative basis	At the end of 2Q23, accrued revenues totaled US$14.3 million and EBITDA, US$9.2 million. On a cumula
31	through June, 19.8% higher revenues were reported vs. 2022; this was due to the increase in rents and fees, as well	through June, 19.8% higher revenues were reported vs. 2022; this was due to the increase in rents an
32	as a 0.6% improvement in occupancy, reaching 94.6% (pre-pandemic levels).	as a 0.6% improvement in occupancy, reaching 94.6% (pre-pandemic levels).

No subtotal/total rows matched the built-in patterns on this table (or fewer than two detail lines above each candidate).

BS

Tables and checks run on 2 of 3 PDF pages for this form (timeout budget). Raise REPORT_REVIEW_HEAVY_RECON_PAGES for more.

BS — PDF page 9

No Camelot table — OCR (v8) below.

v8 OCR page 9: empty rows.

BS — PDF page 10

No Camelot table — OCR (v8) below.

GPU v8 OCR — page 10 (12 rows). Blank amount cells are normal for section headers and line-wrapped captions; 0 from OCR on those rows is not a reported financial zero. Amounts follow the PDF header (often thousands of currency).

#	Joined label	Column 2	Column 3	Column 4	Column 5
0	SECOND QUARTER RESULTS 2023 GrupoMexico
1	I(ussooo)	1		2
2	Grupo Mexico	0	0	2414637	0.414
3	Americas Mining Corporation	0	0	1024427	-1024427
4	Southern Copper Corporation	6549372	6252868	2199313	4053555
5	Asarco	0	0	34788	-4788
6	CMexico Transportes	1136948	1245425	415627	829798
7	GFM Ferromex	424716	409527	118713	290814
8	Ferrosur	0	0	136027	7136.027
9	Florida East Coast	2	20.28	20445	-158
10	Mexico Proyectos y Desarrollos	674446	961377	89610	871767
11	Grupo Mexico (Consolidated)	8807110	8889484	6453587	2435897

CF

Tables and checks run on 2 of 3 PDF pages for this form (timeout budget). Raise REPORT_REVIEW_HEAVY_RECON_PAGES for more.

CF — PDF page 9

No Camelot table — OCR (v8) below.

v8 OCR page 9: empty rows.

CF — PDF page 10

No Camelot table — OCR (v8) below.

GPU v8 OCR — page 10 (12 rows). Blank amount cells are normal for section headers and line-wrapped captions; 0 from OCR on those rows is not a reported financial zero. Amounts follow the PDF header (often thousands of currency).

#	Joined label	Column 2	Column 3	Column 4	Column 5
0	SECOND QUARTER RESULTS 2023 GrupoMexico
1	I(ussooo)	1		2
2	Grupo Mexico	0	0	2414637	0.414
3	Americas Mining Corporation	0	0	1024427	-1024427
4	Southern Copper Corporation	6549372	6252868	2199313	4053555
5	Asarco	0	0	34788	-4788
6	CMexico Transportes	1136948	1245425	415627	829798
7	GFM Ferromex	424716	409527	118713	290814
8	Ferrosur	0	0	136027	7136.027
9	Florida East Coast	2	20.28	20445	-158
10	Mexico Proyectos y Desarrollos	674446	961377	89610	871767
11	Grupo Mexico (Consolidated)	8807110	8889484	6453587	2435897

Formulas used

• Net debt: debt_short + debt_long + other_financial_liabilities + non_controlling_interest − cash (mln); [DeepSeek] net_debt (mln USD, batch apply)