The Board of Directors of the CMA CGM Group, have met under the chairmanship of Rodolphe Saadé, Chairman and Chief Executive Officer, to review the financial statements for the second quarter of 2021.
Commenting on the results just released for second quarter 2021, Rodolphe Saadé, Chairman and Chief Executive Officer of the CMA CGM Group, said: "The strong rebound of global economy has resulted in unprecedented demand for transportation and logistics services. In this context, the Group achieved excellent results this quarter thanks to the mobilization of its teams. Container shipping performance was driven by higher volumes and freight rates. Our logistics subsidiary CEVA has continued to improve its operational and financial performance and posted a sharp revenue increase. “
Acceleration of the Group’s transformation
In light of the growth in international trade, the Group is accelerating its strategic transformation and its investments in order to offer global, agile and innovative solutions to its customers.
Continued investments in industrial assets to enhance services offered to customers
The Group continues to improve the quality of its services and offers alternatives to its customers in a context of ongoing tensions on global supply chains. It is therefore pursuing its investments in order to strengthen its transportation offering.
Since the beginning of the year, the CMA CGM Group has taken delivery of:
- 8 new owned vessels, including the last five of its fleet of nine 23,000 TEU (twenty-foot equivalent units) vessels powered by liquefied natural gas (LNG). The Group is deploying all of its nine 23,000 TEU vessels between Asia and Northern Europe;
- 1 new chartered 15,000 TEU vessel;
- 15 second-hand vessels
In addition, the Group has added more than 520,000 containers to its fleet in one year, an increase of 13%.
Q2 2021 1
Second quarter revenue totaled USD 12.4 billion, up 77.2% as compared to the second quarter of 2020, which was marked by the sharp slowdown in international trade due to the COVID-19 pandemic and lockdown measures. This performance was supported by the Group’s shipping activities and, to a lesser extent, by the logistics activities.
Demand for shipping and logistics services has rebounded significantly since the second half of 2020 due to the shift in household consumption, particularly in Western countries, towards consumer goods at the expense of services which continue to be impacted by COVID-19 restrictions. This sudden increase in demand, combined with the effects of the pandemic, particularly on port operations, has resulted in global supply chain congestion at sea, in ports and on land.
EBITDA came in at USD 4.6 billion, representing an EBITDA margin of 36.9%, up 19.7 points versus the second quarter of 2020. Net income, Group share, stood at USD 3.5 billion.
For more information: cmacgm-group.com