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CMA CGM Happy ThanksgivingMARSEILLE: November 23, 2018. CMA CGM has reported a 6.3 percent year-on-year increase in Q3 revenue to US$6.06 billion and a net income of US$103.1 million – down 68.1 percent from the same period a year ago.

Although third quarter operating income fell 57.5 percent to US$241 million compared to 2017, it represented an increase in the EBIT margin from 1.2 percent in Q2 to 4.0 percent in Q3. “This confirms the performance improvement announced last September for the second half of the year,” said the company.

Unit costs rose 7.7 percent or US$77.00 per TEU compared to Q3 2017, mainly due to the market price of fuel and only partially offset by the introduction of an Emergency Bunker Surcharge.

Q3 container volumes grew 5.5 percent year-on-year to exceed five million containers carried due to strong demand on Transpacific, India/Oceania and Africa trades.

Acknowledging a proposed plan to acquire Ceva Logistics, CMA CGM chairman and CEO Rodolphe Saadé said: "This project will accelerate Ceva’s transformation, making it a more efficient logistics leader, to the benefit of its customers, employees and shareholders. Via a takeover bid, we hope to obtain the majority of Ceva’s share capital and unleash its full potential.”

Results from a CHF30.00 per share offer to existing Ceva shareholders is expected by November 30. If conclusive, CMA CGM expects to acquire a majority stake in the company subject to regulatory approval.

Pictured: Donald Trump reportedly focused on himself on US Thanksgiving Day. On its Linkedin page, CMA CGM steered a different course.

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