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CMA CGM's profits continue to rise over billion a quarter, well above pre-Covid levels

Posted on August 4, 2023 |

CMA CGM's net profit is over $1 billion per quarter, and container revenue is higher than pre-pandemic levels.

In Q2 2023, its net income reached $1.33 billion, a drop of 82% from a year ago and down 34% sequentially from Q1 2023.

However, the recent revenue gains are better than pre-pandemic gains as they saw a net loss of $109 million in Q2 2019 and a net income of $22.7 million in Q2 2018.

Till June 30, CMA CGM had $3.8 billion in financial resources net of debt, down $1.85 billion from 2022.

In Q2 2023, revenue for each FEU of carried volume fell by 16% to $2,983 from Q1 2023 but grew by 36% and 37% from pre-COVID levels.

CMA CGM can beat Denmark’s Maersk to become the world’s 2nd-biggest carrier in the next few years.

At present, CMA CGM operates a fleet of 627 vessels with a total capacity of 3.5 million TEU.

It owns 119 vessels on order totaling 1.2 million TEUs, correlating to an order book-to-fleet ratio of 35%.

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