Upon the release of the 2018 financial results, Rodolphe Saadé, Chairman and Chief Executive Officer of the CMA CGM Group, states: “In 2018, in a difficult environment, the Group posted a sharp rise in volumes and a record revenue of nearly USD 23.5 billion. Despite an increase in oil prices, our recurring EBIT margin remains considerably above the industry average.”
The 2018 annual revenue grew by 11.2%. Volumes carried by CMA CGM rose by 9.3% compared to 2017 and for the first time exceeded 20 million TEUs carried. This increase is attributable to the commercial dynamism of most of the shipping lines operated by the Group, in particular the Transpacific, India/Oceania and Africa lines.
The price of fuel rose steeply in 2018, an increase of 33%, strongly impacting the core EBIT. Following an exceptional year in 2017, this core EBIT is USD 610 million, representing a core EBIT margin of 2.6%. Excluding exceptional items on non-consolidated subsidiaries (GSL, CEVA), recurring net income was USD 150 million. The Group’s share of consolidated net income amounted to USD 34 million for the year 2018.
For 2019, the Group announces the implementation of a global plan to improve its operational performance with a cost savings objective of USD 1.2 billion through the optimization of lines and brands, and by further streamlining its processes.
In early 2019, CMA CGM launched a friendly Public Tender Offer on Ceva Logistics to develop a logistics service complementary to the transport offer, allowing the Group to provide its customers end-to-end solutions. This move represents a major transformation that will make the CMA CGM Group a world leader in both transport and logistics, with 100,000 employees and more than USD 30 billion in annual revenue.
