CMA CGM announced Q2 results with revenues of $4.1bn, representing a decline of 2.1% year-on-year. The company also recorded EBIT of $325m, an increase of 59.3% compared with Q2 2014. Accordingly, CMA CGM’s margin stood at 7.91%., up by 3.0 percentage points.
Overall, CMA CGM attributed the Q2 decline in revenues to a sharp fall in freight rates year-on-year. Even though the number of TEUs carried increased 6.2% year-on-year, this was insufficient to fully offset average revenue per container falling by 7.8%.
The significant increase in operating profit was attributed to the sharp fall in the cost of oil which resulted in lower unit costs for CMA CGM. These lower unit costs outpaced the decline in average revenue per container carried.
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