CMA CGM Q2 revenue drops 37%, net income plummets 83%

Consolidated revenue from shipping operations amounted to $8.4 billion, down 48% from second-quarter 2022. EBITDA was $2.2 billion, down 76% YoY. Volume carried was almost flat at 5.60 million TEUs and average revenue per TEU declined 10% to $1,491 YoY.

Revenue from logistics operations was flat at $3.8 billion in Q22023. EBITDA stood at $356 million, up 5% YoY. The CMA CGM Group submitted an offer to acquire Bolloré Group's freight forwarding and logistics operations during the second quarter of 2023.

As expected, our industry continued to normalise in the second quarter, and despite difficult market conditions, our performance remains robust. Our Group will pursue its transformation as it continues to expand and to integrate recently acquired subsidiaries: Rodolphe Saadé, CMA CGM Group

Revenue from other activities, which include port terminals and CMA CGM Air Cargo, was down marginally (5%) to $474 million. EBITDA was $50 million, down 62%, mainly due to lower volumes in port terminals and a less buoyant air transport market.

Click here to read more

Click Here For More Stories