Volume and revenue growth in a market environment affected by the rise in oil prices
Q1 Performance
- Growth in volumes (+15.0%) and sales (+17.1%)
- Positive EBIT margin (+1.6%), among the best in the industry although down
- Sharp rise in fuel oil prices (+19.4%)
- Continued development, in a context of promising markets
- Strengthening operational discipline and cost management
- Implementation of Emergency Bunker Recovery Measures to offset the sharp rise in fuel oil prices
- Acquisition of a stake of nearly 25% in CEVA Logistics with the aim to developing end-to-end solutions
On the release of the financial results, Rodolphe Saadé, Chairman and CEO of the CMA CGM Group stated:
“The shipping industry is experiencing sustained growth but was hit in the first quarter by the sharp increase in bunker prices. In this environment, CMA CGM succeeded in recording a strong increase both in volumes transported and in revenue, while maintaining a positive core EBIT margin, thus demonstrating once again the relevance of our strategy. Volumes should remain high throughout the year.
In order to deal with the increase in bunker prices, which continue to rise into the second quarter, we are implementing an exceptional surcharge.
The CMA CGM Group will continue its development strategy for its customers both in maritime transportation and in building end-to-end solutions, while pursuing its digital transformation and strengthening the expertise of its teams.”
