The CMA CGM Group (CMA CGM) has reported solid first quarter results for 2022 as it remains cautious on the future.
Against the backdrop of major tension on global supply chains, the company’s revenue in Q1 2022 reached $18.2 billion and EBITDA came in at $8.9 billion – with a margin of 48.7 per cent.
Net profit stood at $7.2 billion, while net debt came at $6.9 billion down $0.9 billion from 31 December 2021.
In the container sector, CMA CGM has transported 5.3 million TEU, representing a decrease of 2.8 per cent compared with the first quarter of 2021.
Commenting on the figures, Rodolphe Saadé, Chairman and Chief Executive Officer of the CMA CGM Group, said: “During the first quarter, our Group accelerated the deployment of its strategy to become a world leader in integrated logistics.
“Due to strong demand, lack of available transport capacity and persistent port congestion, tensions in global supply chains are expected to continue. We remain mobilised to improve service quality and to meet the logistics challenges of our customers.”
In its latest released statement, CMA CGM has expressed confidence about its financial performance prospects for 2022; however, the group has warned about uncertainties sparked by the current geopolitical situation and its impact on the long-term economic outlook.
CMA CGM has also reaffirmed its commitment to reaching its full net-zero target by 2050 by joining the Jupiter 1000 industrial demonstrator project piloted by GRTgaz.
“We have also taken further steps in our energy transition by forging innovative partnerships to develop low-carbon fuels and by deciding to diversify the energy sources for our future vessels,” commented Saadé.
The Jupiter 1000 project is France’s first industrial demonstrator aiming to produce green hydrogen from renewable power and e-methane – a synthetic gas using this hydrogen and CO2 captured from the industrial process.