CMA CGM boosts EBITDA with 62.5%
During the fiscal year 2020, CMA CGM has announced to have improved profitability in all its business activities. Revenue for the period rose 3.9% year-on-year to reach $31.5bn. EBITDA improved, increasing 62.5%, and reaching $6.1bn. The EBITDA margin posted gains, reaching 19.4% (compared to 12.4% in the fiscal year 2019).
Shipping activities see revenue growth of 4% year-on-year
In 2020, volumes transported saw a year-on-year decrease of 2.7%. This decline reflects a very contrasted picture, with a strong upturn in activity from May onwards, which partially offset the sudden drop at the beginning of 2020.
As a result, annual revenue grew 4.0% year-on-year, totalling $24.2bn for maritime shipping, thanks to an average revenue per TEU of $1,154m, an increase of 6.8% compared to the same period in 2019.
EBITDA was $5.5bn compared with $3.2bn in 2019. EBITDA margin rose 8.9 points to 22.7%.
CMA CGM Logistic activities in line with outlined traject
The Group’s logistics activity grew adequately throughout the year, mainly supported by air freight business and then by the recovery of the contract logistics activities (warehousing and related services), following the reopening of sites that had to close during the second quarter due to the health crisis, as well as by the renegotiation of some contracts. CEVA Logistics continues its turnaround and is in line with the trajectory outlined in its transformation plan.
CEVA Logistics posted revenues of $7.4bn in 2020, up 3.1%. EBITDA reached $609m, representing an 11.9% increase over 2019. EBITDA margin rose by 0.7 points to 8.3%.
2020 deals reveals unequalled shipping challenges
“2020 will remain a year of contrasts. Due to the multiple lockdowns and the unwavering consumption of goods, our customers had to deal with unprecedented complexity with regard to the management of their logistics. They had to count on CMA CGM Group and our fully committed teams to support them during these extraordinary times,” said Rodolphe Saadé, Chairman and Chief Executive Officer of the CMA CGM Group.
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