CMA CGM continues to record revenue and profit growth in 2024

CMA CGM container ship (Source: CMA CGM)

CMA CGM has just announced its financial results for 2024, recording impressive growth with full-year revenue increasing by 18% and profit increasing by 49.3% compared to 2023.

CMA CGM's total revenue in 2024 is expected to reach USD 55.5 billion, up from USD 47.02 billion the previous year, mainly thanks to the group's container shipping business.

Profit before tax, depreciation and amortization reached USD 13.4 billion, corresponding to a profit margin of 24.2%, up 5.1 percentage points compared to the previous year.

The Group continues to maintain a strong balance sheet, creating a solid foundation to enter 2025 - a year that is expected to have many geopolitical and market fluctuations.

During the year, total transport volume reached 23.6 million TEUs, up 7.8% compared to 2023 thanks to stable demand. Revenue from container transport activities increased by 16.2% compared to the same period, reaching USD 36.5 billion.

Profit from the transport segment reached USD 11.2 billion, compared to USD 7.4 billion in the previous year. Profit margin increased by 7.2 percentage points to 30.8%, thanks to a 7.7% increase in average revenue per TEU during the year, reaching USD 1,549.

Logistics revenue increased by 20.9% year-on-year to USD 18.4 billion, mainly due to the integration of Bolloré Logistics into the group’s operations.

Logistics profit reached USD 1.8 billion, up 28.3% compared to 2023. The profit margin increased slightly by 0.6 percentage points to 9.6%, reflecting the continued recovery of contract logistics and positive results from finished vehicle logistics, despite the challenges in the automotive industry.

Revenue from other activities increased by 43.3% to USD 2.9 billion, thanks to the change in the scope of consolidation and good performance from the group’s port portfolio. Profit from this segment reached USD 441 million, up 87.2%, with a profit margin of 15.4%, 3.6 percentage points higher than the previous year.

CMA CGM forecasts that global economic growth will remain stable at around 3% in 2025. Global trade in goods is also expected to grow in line with GDP. However, the prospect of higher US tariffs could impact trade and lead to a restructuring of global supply chains in the medium term.

See more:

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• CMA CGM: US port charges would have major impact on shipping lines
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• Lineage earnings grow on post-pandemic inventory rebalancing
• As supply chains face uncertainty, Port of Los Angeles sets record January volume
• Weekly US rail traffic up slightly from 2024

Source: Phaata.com (According to Baird Maritime)

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