From FreightWaves, November 25:
A sharp reduction in costs helped CMA CGM boost profits in the third
quarter, but the purchase of CEVA Logistics continues to weigh heavily
on the bottom line of the container shipping and logistics conglomerate.
CMA CGM’s core earnings before interest, taxes, depreciation and
amortization (EBITDA) of $1.012 billion in the third quarter of this
year were almost three times higher than the $364.5 million reported in
the third quarter of 2018, while the carrier also reported an EBITDA
margin of 13.3%, up from just 6% a year earlier.
CMA CGM, ranked fourth globally
in terms of container shipping capacity by Alphaliner (see table
below), also saw revenue surge 25.8% year-on-year in the third quarter
to $7.624 billion.
However, while the carrier’s profit from shipping operations rose to
$158.9 million in the period from $103.1 million a year earlier, its
overall consolidated net profit slumped to $45.4 million from $103.1
million in the third quarter of 2018.
CMA CGM denied the completion of its multi-billion purchase earlier this year of CEVA Logistics, ranked 13th among global third-party logistics providers (3PLs) by revenue in 2018 according to Armstrong & Associates (see table below)....
....
MUCH MORE
