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Despite the Covid crisis

CMA CGM closes 2020 on a high note

by Port News Editorial Staff

French shipping and logistics group CMA CGM performed well in 2020. Revenues were up 62% compared to the previous year, thanks in part to its fourth-quarter results, with its EBITDA standing at around $2.2 billion, double the figure for the same period in 2019.

In its shipping sector, its revenues rose by 3.9% to $31.7 billion, despite a 2.7% drop in traffic turnover. Essentially, the profitability level of each TEU handled increased.

The group recorded a net profit of $1.8 billion and reduced its debt by $900 million. As for its subsidiary CEVA Logistics, revenues rose by 3.1% to $7.4 billion; its EBITDA was up 0.5% to $609 million.

According to CMA CGM, 2021 is expected to remain in line with last year’s trend.

Translation by Giles Foster

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