The rise of the carriers: CMA CGM
In Q3/2020, the CMA CGM Group's good results also included its Baar (Switzerland)-headquartered affiliate Ceva Logistics. Volumes rose by 1% compared to the same period last year. In total, the group's revenue was 6.3% above Q3/2019 and amounted to USD 8.1 billion.
Ebita took a leap of 68% to USD 1.7 billion, representing a 68% increase over the same period last year. Profits reached a significant USD 567 million, compared to USD 45 million in Q3/2019 and USD 136 million in Q2/2020.
Unit cost by teu was down -6.8% compared to Q3/2019, at USD 845 due to the combined impact of declining oil prices and the group’s cost-cutting initiatives.
Ceva Logistics' revenues stood at USD 1.9 billion in Q3/2020, up 7.9%, and ebitda rose by 18.4% to USD 167 million and up from the second quarter of 2020 (USD 153 million).
This performance was mainly supported by the turnaround in contractual logistics activities (warehousing solutions and related services) following the reopening of sites closed in Q2/2020 due to the health crisis.
The total contribution of Ceva Logistics to net income group share stood at USD 1 million compared to - USD 44 million in 2019. (cd)