CMA CGM has announced its financial results for the first quarter of 2015. It reported that revenue was up by 1.8% year-on-year to $4.01bn. The company also recorded EBIT of $406m, a sharp rise of 218% year-on-year. Accordingly CMA CGM’s EBIT margin stood at 10.12%.
The quarter’s figures were improved by volumes, which rose 10.5% in the period to 3.1m TEU. This rise chiefly resulted from the increase in volumes on the east-west lines, particularly to and from the US, where volumes enjoyed sustained growth, and also from the launch of the Ocean Three Alliance. The group continued to actively optimise its lines, opening five new routes in the US and extending its agency network up to 655 agencies in over 160 countries.
In terms of profitability CMA CGM reaped the rewards of its operating efficiency and cost discipline as well as the sharp drop in bunker prices after bunker costs per TEU fell by 36.5%.
During the quarter CMA CGM took delivery of CMA CGM Kerguelen, its first 17,722 TEU vessel designed to be used on Asia-Europe lines. Another five similar-sized vessels will also be delivered in 2015, along with 6 vessels with a capacity of 9,400 TEU and three vessels with a capacity of 2,100 TEU.
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