News / Strong Q3 demand drives improvement in CMA CGM revenue and profits

French container shipping and logistics group CMA CGM saw third-quarter revenues and profits bolstered by high box volumes during this year’s early peak season.

The Marseilles-headquartered carrier reported year-on-year growth in Q3 revenue to $15.8bn, while EBITDA grew 149%, to just under $5bn, representing an EBITDA margin of 31.4%.

The improved results were mainly due to unexpectedly strong trading during the summer months, the company said, with the 6m teu carried up 5.5% from the previous year, largely in line with market growth.

“The increase can be explained by strong demand over a period that proved dynamic for global trade,” CMA said adding: “Shipping capacity continued to be limited by the rerouting of vessels via the Cape of Good Hope and a degree of anticipation in an uncertain global context.

“The strong demand amplified the usual peak season, and also caused it to begin earlier than usual.”

Its shipping operations brought in $10.9bn, up 43.4% year on year, with container shipping EBITDA at $4.4bn, an average revenue per teu of $1,798.

Meanwhile, its logistics division saw revenue grow 31.1% year on year, to $4.8bn, “boosted in particular by contract logistics and perimeter effects related to the integration of Bolloré Logistics, in the scope of consolidation since February 2024”.

Logistics EBITDA stood at $459m, a 32.8% increase on the previous year.

Finally, it saw $749m in revenues generated by what it terms “other activities” – comprising its air cargo operation, two ports divisions and ownership of media outlets – and an EBITDA of $148m, some 70% up on the year before.

Despite the strong earnings, the company warned that geopolitical risks and structural overcapacity in liner shipping would continue to challenge its business into next year.

“2025 will be shaped by many sources of uncertainty as macroeconomic trends, regulatory changes and geopolitical challenges may continue to weigh on the fluidity of maritime shipping and logistics,” said the company.

“At the same time, new container shipping capacity will come into service. This may disrupt the balance between supply and demand and continue to hamper freight rates, in line with the recent trend.”