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05 July 2020 The on-line newspaper devoted to the world of transports 19:52 GMT+2



June 5, 2020

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Original news
Improved CMA CGM quarterly results

In the first three months of this year, revenues fell by -3,0%

In the first quarter of this year, the period spread globally of the Covid-19 pandemic that is having a negative impact on most activities economic performance, the financial results of the shipping group French CMA CGM marked an improvement over the corresponding 2019 due to a substantial reduction in expenditure more than offset a decline in turnover and extraordinary proceeds of 184.9 million dollars divestment of stakes in ten port terminals at the Terminal Link, the joint venture that is 51% owned by CMA CGM itself and 49% from China Merchant Port ( 27 November 2019).

In the first three months of 2020, revenues from the trans-Alpine group down -3.0% having amounted to 7.19 billion dollars, compared to 7.41 billion in the January-March period last year 5.44 billion generated by the year's containerized shipping (-2.2%) 1.73 billion from logistics activities (-7.1%), the latter recently enhanced with the acquisition of CEVA Logistics, which is consolidation perimeter in May 2019. Expenses operating income totaled 6.21 billion dollars (-6.3%).

EBITDA was US 973.2 million 24.9%, with a contribution of 774.6 million from the containerized shipping (up 36.9%) 142.7 million from the assets logistics (-18.4%). EBIT totaled USD 382.2 million 248.2 million produced by the fleet of container carriers (138.5%) and 8.2 million from the assets (-64.8%). CMA CGM filed the first quarter of 2020 with a net profit of US 55.6 million dollars compared to a net loss of -53.3 million dollars in the same period of last year.

In the first three months of this year, the fleet of the company carried cargo volumes of more than 4.9 million teu, down -4.6%. CMA CGM expects that, due to increased mobility restrictions across the world world in the second quarter to contain the pandemic, in the first half of 2020, the total volume transported will decrease by about -10% from the fleet. However, the group believes that in the second quarter will show a significant improvement.




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