CMA CGM, the third largest shipping line in the world, has recently announced a consolidated revenue increase of 5.3% year-on-year to US$16.7 billion in 2014.
Volumes carried increased by 8.1% to 12.2 million TEU, thanks to gains on the leading East-West lines and the strong sales performance by the Group's regional and speciality brands.
Consolidated net profit stood at $584 million for the 2014/2015 financial year, a 43.2% increase from the $408 million reported in 2013, which included the gain from the disposal of the 49% stake in Terminal Link.
M. Rodolphe SAADE, Vice-Chairman of CMA CGM Group, said: “CMA CGM's performance in 2014 was extremely robust. By combining operational excellence, disciplined financial management and innovation, we have delivered strong growth in results with one of the industry's highest margins and an even healthier balance sheet.
“We have entered 2015 with a fresh commitment to growth and are going to drive faster momentum by continuing to demonstrate our agility, with the launch of the Ocean Three strategic alliance, new solutions and new ports of call, and the strengthening of our positions in shipping-related businesses, such as logistical services, inland transport and port terminals.”
In addition to operating performance, this sharp increase was driven by a clear reduction in net finance costs to $222 million from $445 million, including the $70 million positive impact of the euro-dollar exchange rate.
The operating performance also helped strengthen the Group's balance sheet, which at year-end showed a strong cash position. Adjusted net debt amounted to $2.9 billion, down a steep 21.5%.
