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

People & Company News

Scrap Metal Exporter Pens Terminal Agreement

Port Canaveral Scrap Terminal LLC (PCST), a bulk ferrous scrap exporter, has signed a lease with the Canaveral Port Authority to operate a terminal in the north cargo area at Port Canaveral.

ASNE to Host Launch & Recovery Symposium

The American Society of Naval Engineers (ASNE) announced that registration has opened for its Launch and Recovery Symposium 2014: Launch and Recovery of Manned

MN 100: Horizon Shipbuilding, Inc.

13980 Shell Belt Road Bayou La Batre, AL 36509 E-mail: trshort@horizonshipbuilding.com Website: www.horizonshipbuilding.com President and General Manager: Travis R.

Finance

CMA CGM Continues Expansion, Confirms Profits

The Board of Directors of CMA CGM Group, the world’s third largest container shipping company, met under the chairmanship of Jacques R. Saadé, Chairman and Chief Executive Officer,

Odfjell Drilling in Tighter 2Q North Sea Market

Odfjell Drilling reports second quarter 2014 financial results showing a profit of US$29-million. Profit & loss Q2 2014 Operating revenue for Q2 2014 was USD 272 million (USD 289 million),

DP World 1H 2014 Profit Soars

Global marine terminal operator DP World releases strong financial results from its global portfolio of marine terminals for the six months to 30 June 2014, delivering

Container Ships

CMA CGM Continues Expansion, Confirms Profits

The Board of Directors of CMA CGM Group, the world’s third largest container shipping company, met under the chairmanship of Jacques R. Saadé, Chairman and Chief Executive Officer,

Hamburg Süd Christens Containership in S. Korea

Hamburg Süd yesterday celebrated the christening of its new containership San Christobal with customers and business partners at the Hyundai Heavy Industries shipyard in Ulsan, South Korea.

Nine Share in US$6-B DoD Contract Modifications

The US Department of Defense informs that nine companies have each been awarded indefinite-delivery/indefinite-quantity fixed-price option-year two modifications

News

Scrap Metal Exporter Pens Terminal Agreement

Port Canaveral Scrap Terminal LLC (PCST), a bulk ferrous scrap exporter, has signed a lease with the Canaveral Port Authority to operate a terminal in the north cargo area at Port Canaveral.

Iraqi Kurdistan Oil Shipments Reach 8.8m Barrels

Iraqi Kurdistan has shipped 8.8 million barrels of oil from the Turkish port of Ceyhan since May, Turkish Energy Minister Taner Yildiz said, as the autonomous region

ASNE to Host Launch & Recovery Symposium

The American Society of Naval Engineers (ASNE) announced that registration has opened for its Launch and Recovery Symposium 2014: Launch and Recovery of Manned

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Naval Architecture Port Authority Salvage Ship Repair 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: 0.1863 sec (5 req/sec)