CMA CGM can't help it
CMA CGM continued its strong performance in Q3/2022. The Marseille-based carrier achieved revenues of almost USD 200 billion "mostly driven by the group’s maritime shipping business", as the shipping company said in a press release.
In fact, maritime shipping revenue amounted to USD 15.7 billion, up 25.8% compared to Q3/2021, but down 2% compared to the previous quarter, reflecting the decline in spot freight rates that began in Q2/2022.
Logistics revenue totalled USD 4.34 billion, with a comparably weak ebitda of USD 359 million. In contrast, the whole group's ebitda was strong with USD 9.15 billion.
The group's net debt was further reduced by USD 5.3 billion to USD 78 million. Transported volumes kept rising and reached 5.7 million teu in Q3/2022, a growth of 4.1% year-over-year. (sh)