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Carl Collen

BY CARL COLLEN

Above-market growth for CMA CGM

Shipping group turns in positive set of second-quarter results despite "uncertain worldwide geopolitical environment"

Above-market growth for CMA CGM

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CMA CGM has released its financial details for the second quarter of the year, reporting on positive net results for the company's shipping activity.

According to the group, its shipping business remained strong through the quarter, with "significant improvement" in volumes carried and in profitability.

Volumes transported by CMA CGM increased by 6.3 per cent compared with the same period of 2018, and grew 6.8 per cent on the first quarter of 2019.

"This positive trend, which is above market, is driven by the strong growth of intra-regional lines and the United States line, which remains particularly dynamic."

Second quarter revenue was up 4.6 per cent on Q2 2018, and reached US$6bn for CMA CGM's shipping activities, while overall group activity saw revenue rise 35 per cent to US$7.7bn.

For shipping, adjusted EBITDA came in at US$343.6m, while the group's overall adjusted EBITDA stood at US$954m.

"In a context of geopolitical uncertainty, the CMA CGM Group continues to focus its efforts on operational efficiency, cost control and the rationalisation of its industrial activities and brands," the group stated. "In addition, the positive momentum generated by the acquisition of CEVA Logistics will gradually enable the Group to benefit from a less volatile and more diversified environment than the maritime sector.

"Thanks to all the measures put in place, the Group is confident for the second half of 2019, which should be better than the first one. The CMA CGM Group will continue to improve its financial performance and adapt its commercial offering in order to provide its customers end-to-end offers."
 

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