CMA CGM maintain its commitment to operational efficiency

Container shipping company CMA CGM continues its expansion and confirms its profitability; volumes up 8.0% in the second quarter of 2014

On 29 August, the Board of Directors of CMA CGM Group, the world’s third largest container shipping company, met under the chairmanship of CEO Jacques R. Saadé, to review the financial statements for the second quarter of 2014.

In the second quarter, in a market environment shaped by diverging developments in different regions:

•    Consolidated revenue amounted to USD 4.2 billion, up 3.7% year-on-year.

•    Volumes carried increased by 8.0% to 3.1 million TEUs.

•    Average revenue per TEU decreased by 3.9% over the period.

Sustained growth in volumes was mainly attributable to the development of the Group’s Asia-Europe and Africa lines, and of the Asia-Pacific lines of its subsidiary ANL, reflecting CMA CGM’s enhanced services portfolio in these regions. As a result the Group achieved record-high volumes for the period.

In addition, CMA CGM maintains its commitment to operational efficiency, thereby reducing costs per TEU by 4.8%. Most notably, fuel costs per TEU fall by 9.3%, thanks to the combined effect of lower bunker consumption per unit and more moderate bunker prices.

Core EBIT amounted to USD 204 million in the second quarter of 2014, versus USD 172 million in the prior-year period, representing an 18.4% increase. Core EBIT margin therefore stood at 4.9%, up a slight 0.2% compared to the first three months of the year and up a sharper 0.7% compared to second-quarter 2013. Consolidated net profit came to USD 94 million, versus USD 268 million in the second quarter of 2013, with last year’s amount including a non-recurring USD 248.0 million in proceeds from the sale of the 49% stake in our port terminal operations subsidiary Terminal Link. ´

“Freight rates remained volatile overall, with the usual high level of volumes at this time of the year helping drive current rate increases. On this basis, CMA CGM expects its third-quarter operating performance to be sustained”, CMA CGM announces in a press release.

CMA CGM is the world’s third largest container shipping company and has a turnover of USD 15.9 billion USD in 2013. Operating a fleet of 428 vessels, it serves more than 400 ports around the world. In 2013, the Group carried 11.4 million TEUs.

www.cma-cgm.com

Quelle: LogEastics
Portal: www.logistik-express.com