Q3 22: CMA CGM reports 'very strong' numbers

– Outlook: uncertain economic conditions, normalizing trade flows and an sharp decline in freight rates.

– Strong financial position: net debt reduced by USD 5.3 billion in the third quarter.

– Creation of the Fund for Energies: stepping up investments to drive the energy transition in the maritime shipping and logistics industry.

– Sustained fleet modernization.

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 2022. 

Commenting on the results for the period, Rodolphe Saadé, Chairman and Chief Executive Officer of the CMA CGM Group, said:

“The CMA CGM Group once again recorded strong results in the third quarter. Over the past two years, we have significantly strengthened our financial structure and developed our business through the entire supply chain. Declining demand has prompted a return to more normal international trade flows and a significant reduction in freight rates. In this new environment, we will continue to invest to strengthen our positioning in maritime shipping and logistics, accelerate our energy transition and provide our clients with even more efficient solutions.”

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FOR THE READER: As the French group, it seems, keeps hiding its consolidated numbers – previously available and publicly disclosed until Q1 22 (link here) – the full press release can be read here… it contains very few, relevant financial details about its performance.