CMA CGM nears US$20 billion in third-quarter revenue, reduces net debt
The board of directors of the CMA CGM Group met under the chairmanship of Rodolphe Saadé, the company’s chairman and chief executive officer, in order to review the financial statements for the third quarter of 2022.
The French ocean carrier’s revenue stood at US$19.9 billion in the third quarter of 2022, mostly driven by the group’s maritime shipping business, while the company’s earnings before interest, taxes, depreciation, and amortisation (EBITDA) reached US$9.15 billion with an EBITDA margin of 46%.
Meanhwile, the Marseille-headquartered container line moved 5.7 million TEUs in the third quarter of the year, translating to a 4.1% growth compared to the same period in 2021.
CMA CGM Group expects energy costs to remain high, weighing directly on its operating expenses and, more generally, on consumer spending, particularly in Europe. Αt the same time, the company anticipates a faster return to more normal freight rates in the fourth quarter and lower margins.