CMA CGM records improved results on all fronts
26 Nov 2018 - by
Volumes, revenue and the operating margin for ocean cargo carrier, CMA CGM, are all up for the 3rd quarter, resulting in a net income of $103.1m.
According to a results statement issued by the French-owned company, improved figures of 5.5%, 6.3%, and 4.0% were recorded respectively for the line’s volumes, revenue and operating profit.
Chairman and CEO Rodolphe Saadé said the results were particularly pleasing in light of sharply rising fuel prices.
He said the company’s core earnings before interest and tax “recorded a significant increase compared to the second quarter of 2018, at 40%.
In respect of volume and revenue alone, the line said that volumes shipped recorded a growth of more than 5.5% compared to the 3% for the previous third quarter (Q3) period.
It added that more than five million containers had been shipped in Q3, by far exceeding its own expectations, a feat “attributable to the strength of most of the trades, particularly the Trans-Pacific, India-Oceania, and Africa”.
As for its revenue, CMA CGM achieved an increased yield figure of $6.06m for Q3.