News

  • Photo: CMA CGM

31.03.2015

Daily
Artikel Nummer: 9755

CMA CGM ends 2014 with 43% more net profit


The French shipping line CMA CGM has reported a consolidated revenue of USD 16.7 billion in 2014, up 5.3% year-on-year. The volumes carried increased by 8.1% to 12.2 million teu. The group said this result outpaced the market and reached a new historic high.

 

Volume growth was led by the Asia-North Europe and Asia-North Africa trades in particular. The reorganisation of CMA CGM and Delmas' Africa lines, combined with the opening of new inland corridors and dry ports, also played a major role. The more vigorous US economy was another factor, as was the expansion of the ANL subsidiary, an Asia-Pacific trades specialist that raised volumes carried on existing lines and opened new shipping services.

 

CMA CGM's 2014 core ebit came in USD 973 million, 28.8% higher than in 2013. The resulting core ebit margin showed a substantial improvement, to 5.8% for 2014 and 7.9% for Q4/2014, one of the highest in the industry. Consolidated net profit stood at USD 584 million for the year under review, up by 43.2% from the USD 408 million reported in 2013, which even included the gain from the disposal of the 49% stake in Terminal Link. In addition to the operating performance, this sharp increase was driven by a clear reduction in net finance costs, to USD 222 million from USD 445 million, including the USD 70 million positive impact of the euro-dollar exchange rate.

 

The line said that it is expecting its growth to accelerate with the delivery of new vessels and the start-up of the Ocean Three strategic alliance. The group is currently finalising the order of three additional 20,600 teu newbuildings for delivery in 2017.

www.cma-cgm.com