CMA CGM is also in the black
The carriers continue to sail in the black, and CMA CGM is no exception to the rule. Despite an uncertain worldwide geopolitical environment, the Marseille (France)-headquartered group experienced not only a growth in volumes in Q2/2019, but rising revenues and ebitda.
A big share of the success was attributed to the short-sea and the United States lines. In detail, volumes transported by CMA CGM in Q2/2019 increased by 6.3% compared to the second quarter of 2018 and by 6.8% compared to the first quarter of 2019. The second quarter's revenue was up 4.6% compared to the second quarter of 2018 and reached USD 6 billion for the group's shipping activities.
Cost saving was king: the deployment of the cost reduction plan reduced operational expenses by USD 51 per teu in the second quarter compared to the first quarter of 2019. Adjusted ebitda came to USD 343.6 million and the ebit margin amounted to 5.8%. Nevertheless, the net result of the shipping operations reached USD 2.3 million only. (fd) www.cma-cgm.com