CMA CGM Group reported net income of $24.9 billion for 2022, up 7% on the previous year, on revenue of $74.5 billion (+33%), led by the Group’s maritime shipping business with revenue up 30% year-on-year to $58.9 billion.
Commenting on the full-year 2022 results, Rodolphe Saadé, Chairman and Chief Executive Officer of the CMA CGM Group, said: “Our Group achieved exceptional, historic results in 2022 that have enabled us to invest significantly in operations across our business, step up our energy transition and share the created value with our employees.
As trade returns to normal and freight rates decline, our strategy and recent investments will prove all the more relevant and allow us to look forward to 2023 with confidence.
Leveraging our financial strength and entrepreneurial spirit, we will continue to develop our operations in transport and logistics to meet the needs of our customers, who expect a group like ours to deliver the best service at the lowest possible cost, with the smallest environmental footprint.”
The Group has already committed $10.2 billion for a fleet of 77 LNG-powered and ‘e-methane ready’ vessels of which 32 are already in operation and six biomethanol-powered, e-methanol ready ships will be available by the end of 2026. Nine new e-methane ready dual-fuel container ships joined the fleet in 2022.
In addition, the Group owns equity stakes in more than 56 port terminals and projects around the world. In 2022, CMA CGM stepped up its investments in industry-leading infrastructure to continue supporting growth in its shipping lines and enhance the quality of its customer service.
The Group now owns 100% of the Fenix Marine Services (FMS) terminal in the Long Beach/Los Angeles port area, the US’s leading West Coast import gateway; has started its 10-year operation to manage, operate and maintain the Beirut container terminal; and has been awarded the concession for the Nhava Sheva terminal in India, with its partner JM Baxi.
Late in the year, CMA CGM announced the acquisition of two strategic terminals at the Port of New York, GCT Bayonne and GCT New York, which have a combined capacity of two million TEUs per year with potential for further expansion up to almost double the current capacity. The closing of this transaction remains subject to regulatory approvals.