CMA CGM braces for an even greater financial hit from French windfall tax
French MPs have amended a bill before parliament that would make a temporary windfall tax ...
CMA CGM Rabelais. Photo: VesselFinder
PRESS RELEASE
– Further normalization of transport and logistics markets, return to 2019 pre-Covid conditions.
– Revenue and operating profit for third-quarter 2023 down significantly year on year.
– Financial strength to support the Group’s development, sustainability strategy.
– Operating cost discipline maintained.
The Board of Directors of the CMA CGM Group, a global player in sea, land, air and logistics solutions, met today under the chairmanship of Rodolphe Saadé, Chairman and Chief Executive Officer, to review the financial statements for the third quarter of 2023.
Commenting on the results for the period, Rodolphe Saadé, Chairman and Chief Executive Officer of the CMA CGM Group, said:
“The industry continued to normalize in the third quarter, with a return to pre-pandemic market conditions. Our performance remained very solid however, confirming the relevance of our growth strategy in terminals and logistics. We are consequently more resilient as we enter this new cycle.
The slowdown in the global economy is expected to continue weighing on our industry in the period ahead, but volumes carried are still robust. We remain committed to controlling our operating costs, and are continuing to focus on decarbonizing and digitalizing the supply chain to best meet our customers’ needs.”
The full numbers are here.
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