CMA CGM reports strong 2024 financial results with net profit up nearly 60%
French liner giant CMA CGM has reported full-year 2024 revenue of USD 55.5 billion, a 18.0% year-on-year increase that was led by the performance of the Group’s container shipping activities and supported by logistics, where the group absorbed Bolloré Logistics during the year.
EBITDA came to USD 13.4 billion, representing an EBITDA margin of 24.2% that was up 5.1 points on the year before, while net income soared by nearly 60% from USD 3.64 billion in 2023 to USD 5.71 billion.
CMA CGM notes that after a year of normalization for the transport and logistics industry in 2023 following the COVID pandemic, 2024 saw increased demand for maritime container shipping. While buoyed by stronger-than-expected growth in world trade and inventory rebuilding, global capacity faced a negative shock from geopolitical tensions, including the need to re-route away from the Red Sea area and divert around the Cape of Good Hope. However, “CMA CGM demonstrated its agility by optimizing fleet deployment, shipment routes and freight management, while improving supply chain efficiency and controlling cost.”
The Group says its balance sheet remains robust, enabling it to look confidently ahead to 2025, a year that is set to be shaped by geopolitical and market uncertainty.
Commenting on the results, Rodolphe Saadé, Chairman and Chief Executive Officer of the CMA CGM Group, said: “Our Group has delivered strong results this year, driven by our shipping activities. Our logistics business has also performed well, supported by the strategic investments made in recent years.
“In 2025, in a context of heightened geopolitical tensions and unprecedented uncertainty, our Group will continue to strengthen its position with an expanding low-carbon fleet, state-of-the-art infrastructure, and a workforce trained to tackle the challenges ahead. With these solid foundations, I am confident in our ability to adapt and continue delivering exemplary service to our customers.”