CMA CGM achieves continued growth in full-year revenue and profit in 2024

CMA CGM recently released its 2024 annual financial results, which included an 18 per cent increase in full-year revenue and a 49.3 per cent increase in full-year profit compared to 2023.

CMA CGM's full-year 2024 revenue stood at US$55.5 billion, a year-on-year increase over US$47.02 billion that was led by the performance of the group’s container shipping activities.

Profit before income tax and depreciation came to US$13.4 billion, representing a margin of 24.2 per cent that was up 5.1 points on the year before.

The group's balance sheet remains robust, enabling it to look confidently ahead to 2025, a year that is set to be shaped by geopolitical and market uncertainty.

In all, 23.6 million TEUs were carried over the year, up 7.8 per cent from 2023, driven by sustained demand. Revenue from the container shipping operations was up by 16.2 per cent year-on-year, to US$36.5 billion.

Profot from shipping stood at US$11.2 billion, versus US$7.4 billion the year before. Profit margin increased by 7.2 points to 30.8 per cent, supported by a 7.7 per cent rise in average revenue per TEU for the year to US$1,549.

Revenue from the logistics business increased by 20.9 per cent over the year to US$18.4 billion, primarily due to the integration of Bolloré Logistics.

Profit from logistics came to US$1.8 billion, 28.3 per cent higher than in 2023. Profit margin was up by 0.6 points to 9.6 per cent, reflecting what CMA CGM says is the continued turnaround in contract logistics and a good performance in finished vehicle logistics, despite the difficulties impacting the automotive sector.

Revenue from other activities rose by 43.3 per cent to US$2.9 billion, driven in particular by changes in the scope of consolidation and a good performance by the terminal’s portfolio. Profit came to US$441 million, up 87.2 per cent, representing a margin of 15.4 per cent, 3.6 points higher than the year before.

CMA CGM expects stable global economic growth of around three per cent for 2025. Global trade for goods should grow at the same rate as GDP. Nevertheless, the prospect of higher tariffs announced in the United States could have an impact on trade and lead to a reorganization of global supply chains in the medium term.