French liner CMA CGM described last year as “a year of contrasts” for the transport industry in its financial report for 2023.
The group’s revenues dropped nearly 40% year-on-year, reaching USD 47 billion for the whole year.
The liner explained the significant loss by saying, "Gradual deterioration in the maritime shipping environment throughout 2023, including in the fourth quarter, causing an anticipated year-on-year decline in revenue and operating profit.”
Full-year EBITDA came to USD 9 billion, and the net income amounted to USD 3.6 billion. In the fourth quarter, CMA CGM reported a loss of USD 90 million.
In the maritime shipping segment, the group carried 21.85 million TEU. Interestingly, this volume is slightly higher than that of last year (21.74 million TEU).
Nevertheless, the revenues of the shipping segment dropped 46.7% year-on-year to USD 31.39 billion.
Despite the negative figures, the company is confident about its position for next year’s uncertainties.
“Our Group now stands on two solid pillars, which will enable us to weather cyclical changes more efficiently,” says Rodolphe Saadé, Chairman and Chief Executive Officer of the CMA CGM Group.
Looking ahead, the group intends to “continue to invest in the transformation of the Group, particularly decarbonization and artificial intelligence, in order to pursue our sustainable and profitable development.”
