The French group CMA CGM and its Chairman, Jacques R. Saadé, reported a strong performance in Q1, with an increase of 35.9% in revenue to 4.6 million and a net income of 86 million USD.
The company indicated that the integration of APL led to an increase in volumes carried of 34.2%. The core EBIT margin has experienced a rise of 5.5% to 252 million USD, in comparison to Q1 2016.
The group also underlined the return to profitability of APL operations for the first time since 2011, registering a gross operating income of 56 million USD and a net result of 26 million USD.
Rodolphe Saadé, CEO of CMA CGM Group said:
“In the current shipping context, which is still affected by insufficient freight rates, CMA CGM has continued its positive trend begun end 2016, with further improvement in operating margins and net income.
Our strong performance, which once again distinguishes the Group, is due to the confidence our clients continue to show in us as a reliable and dependable business partner, as well as to the rigorous operational management of our activities. For the first time and less than a year after its acquisition, APL has contributed positively to our Group’s results.
Although the shipping industry still faces strong headwinds, we are confident our strategy should allow improving operational results over the next quarter, leveraging the new OCEAN ALLIANCE and maintaining our focus in operational efficiency and innovation to the benefit of our customers. We continue to reinforce our position as a leading player in our industry.”
Finally, the company indicated that it´s focusing on further improvements in the Group´s core EBIT margin through the continued improvement in freight rates and customer’s confidence.
Read the full report here: http://www.cma-cgm.com/news/1628/first-quarter-2017-strong-performance-increase-and-positive-outlook