CMA GCM: Third-Quarter 2012 Results

Press Release
Tuesday, November 20, 2012

Very good operating performance,  with profitability close to CMA CGM’s historic highs.


The Board of Directors of France’s CMA CGM, the world’s third largest container shipping group, met under the chairmanship of Jacques R. Saadé to approve the financial statements for the three months ended 30 September 2012.
 


Revenue amounted to $4.2 billion for the period, up 9% compared with third quarter 2011. Volumes carried stood at 2.7 million TEUs, versus 2.6 million in the prior-year period.
 


The Group continued to implement its action plan, which generated $550 million in savings over the first nine months of the year, well ahead of its objectives. In addition, freight rates increased on every trade during the period, further improving its profitability.
 


As a result, thanks to the successful implementation of its cost improvement plan and the deployment of modern, efficient vessels offering significant economies of scale, CMA CGM Group delivered a solid operating and financial performance in third-quarter 2012, with:


 

  • $617 million in EBITDA. 
  • After depreciation and amortisation, operating margin stood at 13% for the quarter, the best performance announced in the industry. 
  • Net profit came to $371 million in the third-quarter and to $310 million for the first nine months of the year.

 
Outlook

In line with previous announcements, CMA CGM Group expects to end the year with a substantial profit.
 

Maritime Reporter November 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Madsen to Chair Norway’s Research Council Executive Board

Henrik O. Madsen appointed chairman of the executive board of the Research Council of Norway   DNV GL president and CEO Henrik O. Madsen was appointed as chairman

Port of Houston Expecting Record Year

The Port of Houston Authority is expecting 2014 to close as a banner year for the port, with 34 million tons of cargo handled through November, Executive Director

Hapag-Lloyd Completes CSAV Merger Capital Increase

Hapag-Lloyd completed the planned capital increase of EUR 370 million (approximately $452.5 million) as part of the business combination with the Chilean shipping

Finance

Larger Tankers May Offer Better Return Chances

Investors looking for returns in the tanker markets can invest their capital in a variety of ways. Should an owner invest in a VLCC or an Aframax? How about an

US Plans to Shut Royalty Loophole on Coal Exports

U.S. coal companies will no longer be able to settle royalties at low domestic prices when they make lucrative sales to Asia according to reforms proposed by the Interior Department on Friday.

Hapag-Lloyd Completes CSAV Merger Capital Increase

Hapag-Lloyd completed the planned capital increase of EUR 370 million (approximately $452.5 million) as part of the business combination with the Chilean shipping

News

Port Workers in Argentine Grain Hub End Strike

Port workers in part of the Argentine grains hub of Rosario lifted a work stoppage on Friday, only a day after they went on strike over demands for higher year-end bonuses, a union official said.

Madsen to Chair Norway’s Research Council Executive Board

Henrik O. Madsen appointed chairman of the executive board of the Research Council of Norway   DNV GL president and CEO Henrik O. Madsen was appointed as chairman

Larger Tankers May Offer Better Return Chances

Investors looking for returns in the tanker markets can invest their capital in a variety of ways. Should an owner invest in a VLCC or an Aframax? How about an

 
 
Maritime Contracts Maritime Security Naval Architecture Pipelines Port Authority Salvage Ship Electronics Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | 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: 0.2814 sec (4 req/sec)