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  • Better business in Q3/2019 for CMA CGM.

27.11.2019

Artikel Nummer: 29879

CMA CGM raises USD 2 billion for internal investments


While reporting its quarter result of the current year, CMA CGM said that "the group has lightened its capital structure, which should help it to raise more than USD 2 billion in cash by mid-2020.” The sum is intended to extend the group’s debt maturities and reduce its net debt by approx. USD 900 million.

 

In the third quarter of 2019, revenues increased by USD 7.6 billion, going up by 25.8% compared to Q3/2018. Volumes carried by CMA CGM rose by 5.1% compared to the third-quarter term last year. This growth comes primarily from the improvement of the group’s short sea business (integration of containerships) and the enhancement of its operating performance.

 

Ongoing deployment of the performance improvement plan delivered a further reduction in unit operating costs of USD 25 per teu, compared to the second quarter of 2019 and of USD 89 per teu, compared to Q3/2018. Core ebitda came in at USD 1.01 billion as reported, and at USD 384 million, up 5.3%, excluding the impact of IFRS 16 and the contribution from Ceva Logistics.

 

Net profit from shipping operations increased significantly to USD 158.9 million (Q3/2018: USD 103.1 million). The group’s profit in the third quarter amounted to USD 45.4 million. (fd)

www.cma-cgm.com

 

 

 

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