According to Alphaliner, the French carrier CMA CGM announced a net profit of USD 785 million for the first quarter of the year, rebounding from a previous quarterly loss of USD 90 million. The company’s revenue from shipping activities increased by 19% quarter-on-quarter to USD 7.86 billion, while EBITDA reached USD 1.95 billion, up from USD 630 million in the fourth quarter.
CMA CGM attributed this solid performance to a rebound in rates following the Red Sea crisis. The average rates per teu in the quarter were USD 1,400, marking a 20% increase from the previous quarter. Shipping volumes saw a modest rise of 2%, totaling 5.6 million teu. Year-on-year, liftings were 12% higher, driven by restocking activity in China and the US.
Despite the strong quarterly performance, net profit was down 61% compared to the same period last year. However, this result is still considered robust on a historical basis.
The carrier cautioned that newbuild deliveries are expected to continue exceeding forecast demand, potentially impacting the supply-demand balance and freight rates. In light of this uncertainty, CMA CGM emphasized the need for competition based on cost control, punctuality, and service differentiation.
Additionally, CMA CGM’s logistics activities reported an EBITDA of USD 361 million on revenues of USD 2.9 billion. The recent acquisition of Bolloré Logistics, incorporated into the results from February 29, will report its first full quarter in Q2.
Sources: Alphaliner, CMA CGM
