CMA CGM has announced its financial results for 2014. The company reported revenue of $16.7bn, a 5.3% increase year-on-year. It also recorded core EBIT of $973m, a 28.8% rise over 2013’s result. The EBIT figure was adjusted and does not include disposals and impairment charges. Accordingly the CMA CGM’s EBIT margin stood at 5.8%.
Revenue was boosted by the volume growth. Over 2014 volumes carried increased by 8.1% to 12.2m TEUs. This represented a new historic high for CMA CGM, driven by gains on the leading East-West lines and the performance of the group’s regional and speciality brands. In addition, the Group’s e-business platform handled 1.3m TEUs in its first full year of operation.
EBIT improved along with the company’s operating performance but the sharp increase was aided by a reduction in net finance costs, to $222m from $445m, including the $70m positive impact of the euro-dollar exchange rate.
Rodolphe Saadé, CMA CGM’s Vice Chairman said, “CMA CGM’s performance in 2014 was extremely robust. By combining operational excellence, disciplined financial management and innovation, we have delivered strong growth in results with one of the industry’s highest margins and an even healthier balance sheet.”
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