Increasing traffic and profits

A superb second quarter for CMA CGM

by Port News Editorial Staff

CMA CGM closed its second quarter with $12.41 billion in revenues and a 77.2% increase over the same period last year.

Their EBITDA reached $4.578 billion (+279%) while operating profit rose 586% to $3.8 billion.  In its Ceva Logistics division, earnings before interest, tax, depreciation and amortization were up by 35% to $210m.

Containerized cargo shipped by the fleet increased during the period: 5.69 million TEUs, up 19.1% on the second quarter of last year.

According to CEO Rodolphe Saadé, the pressure on global supply chains is highly likely to persist, but the group’s strong performance allows them to accelerate their logistics transformation and their investments in industrial assets. He said that they were pursuing their effort  in Q3 2020 to increase their capacity and meet their clients’ needs.

This year the shipping group has already invested in eight newbuildings of its own and acquired 15 vessels on the second-hand market. The carrier has also purchased 520,000 containers.

Translation by Giles Foster

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