"Over the second quarter, CMA CGM reported a core EBIT margin close to the figure for the first quarter. They also noted a positive net income despite the sharp rise in bunker prices", reacted Rodolphe Saadé, Chairman and CEO of the CMA CGM Group. "The strong growth in volume demonstrates our commercial power and the quality of our service."
However, their EBIT is under pressure. CMA CGM reported an EBIT of $67.1 million. This amount represents an EBIT margin of 1.2%. The high bunker prices, in particular, are reflected here. Over the past year, the petrol price rose by 27.7% per ton. The group is sticking to the cost-reducing measures they announced in the first quarter. These regulations consist mainly of the optimization of their container fleet and focusing on energy-efficiency. The company's consolidated net income ended up on $22.7 million.
During the second quarter, CMA CGM took over the Finnish Containerships. This shipping company is a specialist in the intra-European market. This acquisition fits with CMA CGM's strategy to expand its intraregional services. A few years ago, they took over the South American company, Mercosur. Two new ships were also added to their fleet. Within their alliance, Ocean Alliance 41, new East-West lines were also set up (Asia-North America, Asia-Northern Europe, and Asia-Middle East).