CMA CGM Group Third Quarter 2018 Financial Results

2018-11-27 17:00By： xinde marine news

Continued increase in volumes shipped and revenues

In the third quarter, volumes shipped by CMA CGM recorded a growth of +5.5% compared to the 3rd quarter of 2017. Over the period, CMA CGM exceeded 5 million containers shipped. This increase is attributable to the strength of most of the trades, particularly the Transpacific, India/Oceania and Africa lines.

Revenue per container in the third quarter of 2018 increased slightly compared to the third quarter of 2017 (0.8%), as well as compared to the second quarter of 2018 (+4.9%).

Consequently, revenue in the third quarter of 2018 rose by +6.3% to USD 6.06 billion.

Unit costs rose by +7.7% (+USD 77 per TEU), mainly due to the market price of fuel, resulting in an increase of USD 55 per TEU compared to the third quarter of 2017. This was only partially offset by the introduction of an Emergency Bunker Surcharge.

Significantly improved financial performance

CMA CGM posted third-quarter 2018 operating income of USD 241 million, representing a core EBIT margin of 4.0%, as compared to 1.2% in the previous quarter. This confirms the performance improvement announced last September for the second half of the year.

This performance is the result of the Group's ability to leverage its size and global network to maximize its revenues, despite the rise in fuel price.

The Group’s share of consolidated net income amounts to USD 103.1 million in the third quarter, up from USD 22.7 million in the previous quarter.

Maritime Development

• Inauguration of the Group's new flagship, the CMA CGM ANTOINE DE SAINT EXUPERY

On 6 September, CMA CGM's flagship, the CMA CGM ANTOINE DE SAINT EXUPERY, was inaugurated in Le Havre by Bruno Le Maire, Minister of Economy and Finance, and Rodolphe Saadé, Chairman and CEO of the CMA CGM Group. With a capacity of 20,600 TEUs (twenty-foot equivalent units), this ship is a symbol of the drive, development and competitive strength of the CMA CGM Group.

• Closing of the acquisition of Containerships, the leading intra-regional shipper in Northern Europe

Through this acquisition finalised on 31 October, CMA CGM pursues its development strategy aimed at densifying the Group's regional coverage. The Containerships network will effectively complement the CMA CGM offering, and more particularly that of its subsidiary MacAndrews, which already operates on intra-European lines. The Finnish company, specializing in the intra-European short sea market, will take delivery of four vessels powered by liquefied natural gas (LNG) in the coming months.

Digitalization

The Group has continued its digital strategy aimed at differentiating itself from its competitors, supporting its development, and boosting performance.

• Inauguration of the start-up incubator ZeBox

CMA CGM’s start-up incubator ZeBox, initiated by Rodolphe Saadé, was launched in Marseilles on 27 September in the presence of Elizabeth Borne, French Minister of Transport. The objective of this incubator is to support start-ups in their development through a strong network of partners, thereby enabling large companies to benefit from their innovations.

• Artificial Intelligence

The Group has signed an agreement with SHONE. This US based start-up is working on embedding artificial intelligence onboard ships. This partnership should facilitate the crew’s tasks in terms of decision-making support, steering and maritime safety.

• Connected Objects

CMA CGM has rolled out its offer of connected containers, using Traxens technology. This technology allows real-time monitoring of the container's position, the intensity of impacts sustained, changes in temperature and humidity, and the detection of doors being opened.

• Blockchain

CMA CGM and its subsidiaries have signed a number of agreements to develop Blockchain technology in the shipping industry. More particularly, CMA CGM is developing a project for blockchain-secured electronic “bill of lading” with the start-up BuyCo, in which the Group has recently invested.

Source:CMA CGM

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CMA CGM Group Third Quarter 2018 Financial Results

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