by Manal Barakat, SeaNewsEditor
Rodolphe Saadé, Chairman and CEO of GMA CGM Group, described the Q3 financial performance of the group as "solid" amidst geopolitical and economic uncertainties.
He noted that the dynamic maritime activity and ongoing transformation of the logistics sector contributed to this quarter's results.
The financials published this week show that CMA CGM experienced steady momentum, with high volumes characterising an early peak season.
The group's revenue reached USD 15.8 billion, a 38.5% increase from the third quarter of 2023, driven by the shipping business. EBITDA was USD 5.0 billion, with a margin of 31.4%, up 14.0 points.
In the shipping sector, the company carried 6.0 million TEUs during this year's third quarter, a 5.5% increase from the previous year.
Strong demand and limited shipping capacity due to Red Sea reroutings contributed to an early and amplified peak season, said the carrier.
Maritime shipping revenue was USD 10.9 billion, up 43.4% from the third quarter of 2023. EBITDA was USD 4.4 billion, with a margin of 40.2%.
Additionally, CMA CGM highlighted the strategic investments and partnerships it carried out this year, including the acquisition of a 48% stake in Santos Brasil, the leading terminal operator in Brazil.
