CMA CGM announces Q2 financial report with strong increase in revenue and profit

Container ship of CMA-CGM Shipping Line (Photo: CMA-CGM)

The board of directors of CMA CGM Shipping and Logistics Group has released the company's financial and operating reports for the second quarter of this year, showing strong gains in profits and revenue.

In particular, CMA CGM's second quarter revenue reached $12.4 billion, recording a sharp increase of 77.2% over the same period in 2020, when international trade was slowed down due to the Covid-19 pandemic.

In the second quarter, CMA CGM's earnings before interest, tax, depreciation and amortization (EBITDA) exceeded $4.5 billion and had an EBITDA margin of 36.9%, up 19.7% year-on-year with the same period last year. The company's net profit stood at $3.5 billion in the second quarter.

"This increase has been driven by the steady demand for consumer goods," said CMA CGM.

CMA-CGM's revenue and income in Q2 2021 (Source: CMA CGM)

Chairman and CEO of CMA CGM Group, Rodolphe Saadé commented, "The strong rebound of the global economy has resulted in an unprecedented demand for transportation and logistics services", and added that "container shipping performance was driven by higher volumes and freight rates."

Specifically, the Marseille-based carrier has grown its container throughput by more than 19% compared to Q2 2020 and by 4.4% compared to Q1 2021, with a shipping volume of 5.7 million TEUs. in the second quarter of last year.

CMA CGM points out: “Container shipping activity was particularly dynamic on the Transpacific, Latin America and Intra-Regional routes.”

Regarding the financial results of the group's container shipping business, revenue spiked year-on-year by 89.4% to $10 billion, driven by growth in volume and revenue per unit (TEU), EBITDA soared 329.6% to $4.3 billion, while EBITDA Margin accounted for 43.2%, up 24.1% year-on-year, supported by revenue average per TEU is 1,756 USD.

CMA-CGM's volume in Q2 2021 (Source: CMA CGM)

Amid continued stress on the global supply chain, CMA CGM Group said it is continuously investing in assets to expand services, strengthen its transportation offering and support decarbonisation. .

Especially, from the beginning of the year until now, the French shipping group has received 1 newly chartered 15,000TEU ship, 15 old container ships, and 8 new owned ships, including the last 5 ships out of a total of 9 ships of 23,000 TEU runs on liquefied natural gas (LNG).

In addition, CMA CGM also added more than 520,000 containers within a year and increased its fleet by 13%.

Source: Phaata.com (According to Container-News)

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