French logistics group sees massive revenue increase in Q2
10 Sep 2019 - by
French logistics group CMA CGM saw a 35% year-on-year increase in revenue (to $7.7 billion) for the second quarter of September.
Delivering the results earlier this month, Rodolphe Saadé, the CEO and chairman of the CMA CGM group, said that the maritime division had particularly benefited from the dynamism of its intra-regional lines and had posted growth in volumes above global market growth.
And, he added, the shipping business remained strong in the second quarter, with a “significant improvement” in volumes carried and in profitability, enabling the shipping activity to post a positive net result.
According to Saadé, the group further enhanced its operating performance through the optimised use of its modern fleet of 528 vessels (at 30 June). He said that in the second quarter, volumes transported by CMA CGM increased by 6.3% compared to the second quarter of 2018, and by 6.8% compared to the first quarter of 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.”
Saadé said that in a context of geopolitical uncertainty, the CMA CGM group would continue to focus its efforts on operational efficiency, cost control and the rationalisation of its industrial activities and brands.
“In addition, the positive momentum generated by the acquisition of CEVA Logistics will gradually enable the group to benefit from a less volatile and more diversified environment than the maritime sector,” he said.