Marine Link
Monday, September 26, 2016

CMA GCM: Third-Quarter 2012 Results

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 Magazine Cover Sep 2016 - Maritime & Ship Security

Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

Subscribe
Maritime Reporter E-News subscription

Maritime Reporter E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

Subscribe for Maritime Reporter E-News