CMA CGM Q1 revenue drops 30%

Net profit plunges 72% to $2bn on slow demand; first quarter expected to be best quarter of the year
Shipping revenue dropped 40% to $8.9 billion and EBITDA dropped 64% to $3 billion. Volume carried declined 5% to five million TEUs. Average revenue per TEU declined 37% to $1,766.
Our industry has entered a phase of normalisation due to the slowdown in global growth, inflation and a destocking phenomenon. Despite this deteriorated context, our first-quarter results are extremely solid. They are the fruit of our investments - more than $30 billion committed over the past two years: Rodolphe Saadé, CMA CGM Group
Second-half 2022 trends continued to prevail in 2023 with deteriorated conditions in the transport and logistics industry.
Click here to read more
Click Here For More Stories