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The CMA CGM Group Review Financial Statements for Q2 2019

Logistic News - Published on Wed, 11 Sep 2019

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The Board of Directors of the CMA CGM Group, a leading worldwide transport and logistics group, met under the chairmanship of Mr Rodolphe Saade, Chairman and Chief Executive Officer, to review the financial statements for the Q2 2019. Q2 revenue was up 4.6% compared to the Q2 2018 and reached USD 6 billion for the Group’s shipping activities.

Shipping activity
The Group’s shipping business remained strong in the second quarter, with significant improvement in volumes carried and in profitability, enabling the shipping activity to post a positive net result.

Growth in carried volumes and revenue
In the second quarter, volumes transported by CMA CGM increased by 6.3% compared to the Q2 2018 and by 6.8% compared to the Q1 2019. This positive trend, which is above market, is driven by the strong growth of intra-regional lines (short sea) and the United States lines, which remain particularly dynamic.

The Group thus relies on the network of intra-regional companies’ expertise that are leaders in their sectors:
– CNC, a specialist in Intra-Asia,
– Mercosul, a leader in cabotage and door-to-door services in Brazil.
– ANL, an expert for Australia and Oceania,
– Containerships, specialist in intra-Europe.

Operating performance: positive outcomes from the cost reduction plan
The deployment of the cost reduction plan allowed to reduce operational expenses by USD 51 per TEU (Twenty-foot Equivalent Unit) in the second quarter compared to the Q1 2019.

This mainly comes from initiatives to rationalize certain trades, the efforts to always improve operational efficiency, lower logistics costs and the reduction of the Group’s ships consumption.

Adjusted EBITDA came to USD 343.6 million and the EBIT margin amounted to 5.8%. The net result of the shipping operations reaches USD 2.3 million.

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Posted By : Mohan Sharma on Wed, 11 Sep 2019
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