CMA CGM reported a net profit of $7 billion in the third quarter, down slightly from the previous quarter but 25% higher than last year despite global trade beginning to show signs of slowing, the company said on Friday. French group.
This result was obtained on a billing of 19,910 million dollars, an increase of almost 30% compared to last year, specified the shipowner who, however, is preparing for a more complicated situation, given the explosion in prices of energy that is straining household budgets and slowing consumption. particularly in Europe.
Since the beginning of the year, the world’s third-largest shipowner has posted a net profit of $21.8 billion, compared to $17.9 billion for all of 2021. A record performance that puts CMA CGM on a par with other giants from Hexagonal like TotalEnergies or the pharmaceutical group Sanofi that the left would like to see taxed on “super profits.”
Standardization of freight rates
The gross operating surplus (Ebitda) of shipowners, a measure of operating performance, fell slightly between the second and third quarters of 2022 (-4.6% to 9,150 million), in particular due to the normalization of tariffs freight rates that are gradually returning to their previous levels. -Covid level after having exploded during the pandemic.
However, CMA CGM is confident that 2023 is approaching an uncertain year for the global economy and trade. Debt was reduced to $78 million as of September 30, from $5.3 billion three months earlier.
Gefco, an asset for the logistics segment
The group intends to continue investing, in particular to green its fleet of more than 580 ships. In recent months, it has also taken advantage of its record profits to invest everywhere (Eutelsat, Air France-KLM) or buy logistics companies (Colis Privé, Gefco, etc.) and press (La Provence).
The Marseillan owner will also be a sponsor of the Olympique de Marseille shirt from next summer.
The acquisition of Gefco, a French car transporter, contributed to the strong growth of CMA CGM’s logistics segment, which registered a turnover of 4.34 billion dollars (+51.3% in one year).
CMA CGM also recently acquired the Nhava Sheva port terminal (western India) and wants to double its air cargo fleet, currently consisting of six aircraft, by 2026.
Source: BFM TV
