CMA CGM Reports ‘Strong’ Operating Results in 2017
CMA CGM, the world’s third largest container shipping company, reported strong operating results in 2017 helped by more than 20% growth in container volumes that is likely to continue in 2018, the company said.
The French carrier reported Friday that overall transported volumes in 2017 grew to 19 million containers, marking a 21% increase compared to 2016.
Revenue also grew significantly in 2017, hitting 21.1 billion USD and representing a sharp increase of +32% compared to 2016, CMA CGM said. Thanks to rising freight rates throughout last year, the average revenue per TEU rose by +9% compared to 2016. The company said 2017 marked the first time in its history that annual revenue surpassed the $20 billion mark.
Overally, CMA CGM reported a net profit of $701 million for last year, bringing the company back to profitability after its $452 million loss in 2016.
Commenting on the 2017 annual results, Rodolphe Saadé, Chairman and CEO of the CMA CGM Group, said:
“The Group has recorded an excellent performance in 2017, showing once again the relevance of its strategy and its operational discipline. Quarter after quarter, CMA CGM demonstrates its ability to outperform its peers and these annual results confirm our Group’s position as a leading player in the container shipping industry.
In 2017, we launched several strategic projects fostering our development for the years to come, notably in the digitization of our industry.
Driven by its strategic vision, the expertise of its 30,000 staff members and its financial strength, the Group is pursuing its development with confidence and determination, as it has for the past 40 years.”
According to CMA CGM, some highlights from 2017 included the first full year of APL’s integration within the group, its acquisitions of South Pacific operator SOFRANA and Brazilian domestic carrier Mercosul, the April 2017 launch of the Ocean Alliance, its order of nine 22,000 TEU containerships to be powered by LNG, and the Group’s push to digitalization.
Looking ahead, CMA CGM expects the momentum of volumes transported to continue in 2018. “The Group should continue to benefit from this trend, thanks to its worldwide presence and its portfolio of brands covering the East-West, North-South and intra-regional trades,” CMA CGM stated.
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