CMA CGM Release First Quarter 2013 Results

MarineLink.com
Friday, May 31, 2013
Photo: CMA CGM

The Board of Directors of France’s CMA CGM, met under the chairmanship of Jacques R. Saadé, Chairman and Chief Executive Officer, to review the financial statements for the three months ended March 31, 2013.

Consolidated revenue rose by six percent in the period, to $3.8 billion from $3.6 billion in the first three months of 2012. The increase resulted from three percent growth in volumes carried (2.7 million TEUs in first-quarter 2013 compared with 2.6 million TEUs in the prior-year period) as well as a three percent rise in freight rates.

Profitability rose sharply in the first three months of 2013 with EBITDA amounting to $258 million, compared with a loss of $31 million in first-quarter 2012, for an EBIT margin of 5.1 percent, one of the industry’s highest. Consolidated net profit stood at $102 million for the period.

CMA CGM also continued to strengthen its balance sheet by:
-Sharply reducing net debt to $4.2 billion at March 32, 2013. This was $1.1 billion less than one year earlier and $0.4 billion less than at December 31, 2012.
-Significantly improving equity to $4.2 billion, an increase of $640 million compared with one year earlier and an increase of $112 million since December 31, 2012.

Outlook
Since the Chinese New Year, freight rates have declined considerably, especially in the Asia/Europe market. In today’s still volatile market conditions, CMA CGM should produce better-than-average results thanks to the diversity of its geographic exposure and its ability to effectively manage its cost structure.

www.cma-cgm.com

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter December 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Volvo Penta Debuts Innovative Glass Cockpit

The new generation of Glass Cockpit expands Volvo Penta’s collaboration with Garmin for an advanced monitoring and control system that makes boating easier. And its clever application,

Long Beach sees Robust Container Growth

The Port of Long Beach kicked off the New Year by logging its seventh straight month of cargo increases, showing a 24.8 percent jump in container shipments over the same month last year.

Maersk Drilling Posts Record Profit

Maersk Drilling delivered the best result ever with a profit of USD 751m (USD 478m) in 2015 generating a ROIC of 9.3% (7.1%). The result was positively impacted

Finance

Long Beach sees Robust Container Growth

The Port of Long Beach kicked off the New Year by logging its seventh straight month of cargo increases, showing a 24.8 percent jump in container shipments over the same month last year.

Maersk Drilling Posts Record Profit

Maersk Drilling delivered the best result ever with a profit of USD 751m (USD 478m) in 2015 generating a ROIC of 9.3% (7.1%). The result was positively impacted

Total Proposes 0.61 ‎€ per Share Dividend

The Board of Directors of Total met on February 10, 2016, and agreed to propose to the Annual Shareholders’ Meeting on May 24, 2016, a 2015 annual dividend of 2.

Container Ships

Long Beach sees Robust Container Growth

The Port of Long Beach kicked off the New Year by logging its seventh straight month of cargo increases, showing a 24.8 percent jump in container shipments over the same month last year.

APM Terminals Broaden Portfolio, Business Model

APM Terminals’ increased invested capital to USD $6.2 billion in 2015 as ongoing strategic plans to drive portfolio growth, improve productivity and safety performance, generated USD $4.

Hapag-Lloyd Buys Two Boxships

Hapag-Lloyd has bought two 2015-built, 3,500 teu wide-beam design containerships for deployment in its South America trades for an undisclosed price from NileDutch,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Navigation Offshore Oil Pipelines Ship Electronics Ship Repair Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0980 sec (10 req/sec)