CMA CGM, the world's third-largest container shipping group, reported revenue of $ 14.3 billion for the year ended December 2010, a 36 per cent increase on 2009 that was led by the combined impact of higher volumes carried and improved freight rates, according to Exim News Service.
In all, more than nine million TEUs were carried during the year, up by 15 per cent on 2009. With capacity increased by 17.7 per cent and representing 8.6 per cent of worldwide capacity at year-end, CMA CGM has consolidated its leadership in the global container shipping industry.
The strong growth in business was accompanied by the sustained deployment of the cost control programmes initiated in 2009, which helped to limit growth in operating expenses to 4 per cent in 2010.
EBITDA stood at $2,516 million for the year, yielding an EBITDA margin of 17.6 per cent, one of the industry's highest.
Consolidated net profit ended the year at $1,627 million.
All of the markets saw strong growth during the year. The Asia-Europe and intra-Asia lines enjoyed record business, while the Asia-US lines returned to pre-recession levels after having been severely impacted by the fall in world trade.
In 2010, the Group further enhanced its fleet capabilities by taking delivery of 20 new containerships, of which 12 are owned (including eight with over 11,000-TEU capacity). With 396 vessels, of which 91 are owned, CMA CGM is today one of the leading global shipping companies with an ultra-modern fleet, enabling it to achieve extensive economies of scale and optimise customer service.
CMA CGM expects to return to normalised profitability levels in 2011.