CMA CGM achieves massive US$5.6 billion profits

Nov, 25, 2021 Posted by Sylvia Schandert

Week 202145

CMA CGM Group has reported an astonishing surge in its profits during the third quarter of the year, reporting US$5.6 billion, while last year the company achieved US$567 million, according to the latest report.

The third-largest container carrier in the world has marked additional remarkable gains during the last quarter, with earnings before interest, tax, depreciation and amortisation (EBITDA) standing at US$7.1 billion which reflects to surge of almost 318% year-on-year.

At the same time, the French Group’s EBITDA margin was 46.4%, a 25.4 point increase compared with the third quarter of 2020, while consolidated revenue reached US$15.3 billion, representing a significant growth of more than 89%, mainly driven by the Group’s shipping activities.

Moreover, the Board of Directors of the CMA CGM Group noted that the net debt stood at US$11.9 billion on 30 September 2021, declined by US$4.9 billion from 31 December 2020, while just after the close of the quarter, on 15 October 2021, the Group redeemed its bond maturing in 2025 for an amount of €750 million (US$843.7 million).

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