CMA-CGM: strong EBITDA growth and very good financial results in Q2/2021

  •   07/09/2021 - 08h42
  •   DEHOUI Lionel

Since its foundation, the CMA-CGM Group's mission has been to reinvent maritime transport in order to properly support its customers in their development. The group also operates in the logistics field thanks to a team of experts. The accounts of its activity in the second quarter of 2021 have been examined by its Board of Directors. CMA-CGM has achieved an excellent performance over this period.

CMA-CGM: strong EBITDA growth and very good financial results in Q2/2021

CMA-CGM: Revenue for the second quarter of 2021

During the second quarter of 2021, the CMA-CGM Group worked to accelerate its strategic transformation and investments in line with its main objective. It has thus succeeded in providing an innovative, global and agile offer to its customers. It also strengthened its transport offer with the reception of new vessels (8 owned, including 5 of 23,000 TEU and 1 of 15,000 TEU chartered). 15 other second-hand vessels were received.

At the same time, the group strengthened its CEVA Logistics offering in South America with the acquisition of Cargex. On the European market, the Group accelerated the development of its CMA-CGM AIR CARGO division.

Its various operations to achieve its transformation enabled it to generate $12.4 billion in revenues in the second quarter. This represents a very strong growth of 77.2% compared to the second quarter of the previous year.

Note: Last year, the Group's international business in Q2 was severely impacted by the Covid-19 health crisis.

 

CMA-CGM: EBITDA, Margin and Indebtedness at 30 June 2021

The shift in household consumption (especially in the West) from consumer goods to services had a positive impact. This has resulted in a very strong growth in demand for transport and logistics services from H2/2020 until now. Subsequently, there is the congestion of logistics chains (land and sea) in the international market.

At the end of the second quarter of 2021,EBITDA from CMA-CGM's business was $4.6 billion with an EBITDA margin of 36.9%. The latter is up 19.7 points compared to its level in Q2/2020. Net income attributable to equity holders of the parent was $3.5 billion for the three months under review.

The group also repaid some of its borrowings during the quarter. This cost the company $725 million.

Note:CMA-CGM's net debt stood at 14.9 billion dollars on 30 June 2021. It is therefore down by $1.9bn compared to the end of 2020.

 

CMA-CGM: Outlook for the rest of the year

In terms of outlook for the coming months, the CMA-CGM Group will continue with its investments to strengthen and renew its industrial facilities. It will therefore continue with the strengthening of its financial structure.

It also expects to take delivery of 6 new 15,000 TEU (Twenty-Foot Equivalent Units) owned vessels during the second half of 2021. It will also receive 17 second-hand vessels and 3 container ships (15,000 TEU chartered) over the same period. The Group will also continue with the deployment of its solutions in support of its customers. It therefore expects to improve its operational and financial results in the second half of 2021.