CMA CGM on Monday said group net income fell 72.6% to $749 million from $2.73 billion on revenue down 11.3% to $14.042 billion from $15.834 billion in the year-ago quarter.
The privately-held company headquartered in Marseilles said results were “significantly impacted” by geopolitics and trade tensions centered in the United States with a corresponding “slowdown in maritime activity”.
Earnings before interest, depreciation, taxes and amortization (EBITDA, or operating earnings) totaled $2.995 billion, a decline of 40.5% from $4.964 billion.
The world’s third-largest container carrier noted improvement from the second quarter when trade between China and the U.S. came to a virtual standstill amid a heightening of the trans-Pacific tariff war. Red Sea disruptions continue to pose operational challenges, the company said in an earnings release.
The French operator has been the only global liner to continue operating scheduled services through the Red Sea and Suez Canal since Yemen’s Houthi militia began attacking merchant shipping in 2024. It recently said it was expanding those services following a ceasefire in the Gaza war.
Maritime revenue was $9 billion, 17.4% lower from a year ago. EBITDA came to $2.2 billion, a drop of 48.8% while EBITDA margin was 24.9%, off 15.3%.
Average revenue per twenty foot equivalent unit slid 19.2% to $1,452 compared to the same period in 2024 as volume of 6.2 million TEUs was up 2.3% y/y and 3.4% from Q2.
The company highlighted that in the quarter it ordered six 1,700-TEU ships with India shipyards and pledged to hire 1,500 Indian crew by the end of 2026, in support of the Modi government. It also said it was registering 10 24,000-TEU vessels — the largest in operation — in France.
Those moves come after chairman and chief executive Rodolphe Saade, whose family controls CMA CGM, in March appeared in the Oval Office with President Donald Trump to announce $20 billion worth of investments to back a revival of the U.S. shipping sector.
Describing a “cautious” outlook, the company said, “The increase in volumes occurred amid significant disruptions in trade between China and the United States during the period, marked by stop-and-go episodes, and demonstrates the Group’s ability to redeploy its assets to capture demand where it arises. The breadth and diversification of CMA CGM’s maritime operations, with a strong presence across all major global trade lanes, enable the Group to adapt agilely to changes in the market environment and in demand.
“In an uncertain environment, the CMA CGM Group remains cautious while maintaining agile and efficient management of its operations and strict cost control to preserve its competitiveness.”
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