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CMA CGM – First Quarter Of 2021 Financial Results – Sustained Strong Operating And Financial Performance

CMA CGM – First quarter of 2021 financial results – Sustained strong operating and financial performance

Source: CMA CGM
Marseille, France (PortSEurope) June 7, 2021 – CMA CGM Group, the French shipping and logistic group, has reviewed the financial statements for the first quarter of 2021 and published the following summary: Investments to strengthen and upgrade shipping and logistics assets: 22 vessels ordered, 12 of them powered by liquefied natural gas.Development of new solutions for customers: launching of operations for CMA CGM AIR CARGO,
the Group’s airfreight division. Sharp rise in EBITDA margin in the first quarter of 2021, still driven by demand for consumer goods.Strengthening of the Group’s financial structure. Commenting on the results, Rodolphe Saadé, Chairman and Chief Executive Officer of the CMA CGM Group, said: “At a time when global supply chains are under severe pressure, we have rallied together to provide our customers with additional solutions. We have expanded our fleet, most notably with the addition of new LNG-powered 23,000 TEU vessels. We have also created a new airfreight division with four Airbus A330-200 full-freighters, thereby strengthening our range of agile solutions. In this context, the complementarity between our maritime transport offer and the logistics solutions offered by our subsidiary CEVA Logistics has proven particularly relevant. Sustained demand for the transportation of consumer goods is expected to continue throughout the year. CMA CGM will continue to develop its solutions for its customers, while maintaining its initiatives in support of the energy transition of the transport and logistics industry.” Shipping volumes In the first quarter of 2021, carried volumes were up 10.7% from first quarter 2020 to 5.5 million TEUs, reflecting the quarter’s strong business activity. Shipping revenue stood at USD 8.6 billion, an increase of 57.4% driven by strong growth in unit revenue per TEU. The full press release can be accessed here Source: CMA CGM Copyright (C) PortSEurope. All Rights Reserved. 2021.

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