CMA CGM Group recently announced its financial results for 2024, with an overall performance comparable to that of Maersk, but the group is cautious about the market environment in the coming year. Despite the lack of full disclosure of financial data, CMA CGM described its performance as “solid” and emphasized its strong performance in shipping and logistics.
Performance highlights:
- In 2024, CMA CGM’s full-year revenue amounted to $55.5 billion, an increase of 18% year-on-year, equal to that of Maersk.
- Earnings before interest, taxes, depreciation and amortization (EBITDA) rose 49 percent to $13.4 billion, slightly ahead of Maersk’s $12.1 billion.
- Net profit rose by about $2 billion to $5.71 billion, showing strong profitability although slightly lower than Maersk’s $6.09 billion.
Commenting on the results for the year, Rodolphe Saadé, Chairman and Chief Executive Officer of the CMA CGM Group, said: “Our Group has delivered strong results this year, driven by our shipping activities. Our logistics business has also performed well, supported by the strategic investments made in recent years. In 2025, in a context of heightened geopolitical tensions and unprecedented uncertainty, our Group will continue to strengthen its position with an expanding low-carbon fleet, state-of-the-art infrastructure, and a workforce trained to tackle the challenges ahead. With these solid foundations, I am confident in our ability to adapt and continue delivering exemplary service to our customers.”
A troubled geopolitical environment
After a year of normalization for the transport and logistics industry in 2023 following the COVID pandemic, 2024 saw increased demand for maritime container shipping. While buoyed by stronger-than-expected growth in world trade and inventory rebuilding, global capacity faced a negative shock from geopolitical tensions.
Throughout 2024, global maritime shipping was disrupted by major tensions in the Red Sea and Gulf of Aden, forcing vessels to avoid the area and take an alternative route via the Cape of Good Hope. This impacted effective capacity, while the expected increase in tariffs impeded the fluidity of world trade in 2024.
In this environment, which was shaped by conflicts in the Middle East and Ukraine, CMA CGM demonstrated its agility by optimizing fleet deployment, shipment routes and freight management, while improving supply chain efficiency and controlling costs.
Maritime
In 2024, CMA CGM continued investing in its industrial assets and rolling out its energy transition strategy by upgrading its fleet with more efficient vessels. In 2024, the Group took delivery of 12 new LNG-fueled vessels (Liquefied Natural Gas). To achieve Net Zero Carbon by 2050, the Group has invested nearly USD 20 billion to order LNG and methanol-powered ships and will have 153 ships capable of using low-carbon energies (biogas, biomethanol and synthetic fuels) in its fleet by 2029. In the future, the diversity of technologies and the availability of greener fuels, such as biomethane or biomethanol, will remain a major challenge for the CMA CGM Group and the industry.
In 2024, the CMA CGM Group also continued to strengthen its position in port infrastructure, with a network that now includes 60 port terminals in 30 countries. In September, the Group signed an agreement to acquire around 48% of Santos Brasil, the leading port infrastructure operator in Brazil and owner of the largest container terminal in South America. The transaction remains subject to the usual regulatory approvals.
In 2024, the Group signed a joint partnership agreement with Marsa Maroc to operate part of the Nador West Med container terminal and inaugurated the Khalifa terminal in Abu Dhabi, which has strengthened CMA CGM’s position in the Middle East, a key hub for international trade.
These initiatives reflect the CMA CGM Group’s ambitious strategy to develop its infrastructure portfolio supporting the development of its shipping lines.
Logistics
The CMA CGM Group has strengthened its position as a major player in the global supply chain with the acquisition of Bolloré Logistics, the biggest acquisition in the Group’s history since its creation in 1978. This acquisition positioned CEVA Logistics as one of the world’s top five logistics operators in 2024.
CEVA Logistics has increased its presence in Saudi Arabia by signing a joint venture agreement with Almajdouie Logistics to provide integrated end-to-end logistics services to Saudi companies.
Lastly, as official logistics partner for the Paris 2024 Olympic and Paralympic Games, the CMA CGM Group, via its CEVA Logistics subsidiary, played a crucial role in the reception, storage, preparation and customs clearance of goods and equipment for the world’s biggest sporting event.
Other activities
In 2024, CMA CGM Air Cargo, now operating independently, continued its expansion by taking delivery of its third Boeing 777-200F, deployed on a new transpacific route connecting Asia to North America.
In the media sector, the Group completed the acquisition of RMC-BFM in July 2024. With this transaction, CMA Media has become the third largest private media group in France. It includes a diversified brand portfolio with RMC and BFM, and a press division operating a range of regional and national daily titles (La Tribune Dimanche, La Tribune, La Provence and Corse Matin).