CMA CGM GROUP on Friday [28 February] reported full-year 2024 revenue stood at USD 55.5 billion, a 18.0% year-on-year increase that was led by the performance of the group’s container shipping activities.

Group EBITDA came to USD 13.4 billion, representing an EBITDA margin of 24.2% that was up 5.1 points on the year before.

In all, 23.6 million TEU were carried over the year, up 7.8% from 2023, driven by sustained demand, CMA CGM said. Revenue from the container shipping operations was up by 16.2% year-on-year, to USD 36.5 billion.

EBITDA stood at USD 11.2 billion, versus USD 7.4 billion the year before. EBITDA margin increased by 7.2 points to 30.8%, supported by a 7.7% rise in average revenue per TEU for the year to USD 1,549.

Revenue from the logistics business increased by 20.9% over the year to USD 18.4 billion, primarily due to the integration of Bolloré Logistics. EBITDA came to USD 1.8 billion, 28.3% higher than in 2023. EBITDA argin was up by 0.6 points to 9.6%, reflecting the continued turnaround in contract logistics and a good performance in finished vehicle logistics, despite the difficulties impacting the automotive sector.

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, it said.

“Our Group has delivered strong results this year, driven by our shipping activities,” chairman and CEO Rodolphe Saadé commented. “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.”

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-fuelled vessels.

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 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.

Stable global economic growth of around 3% is expected for 2025, CMA CGM said. 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.

“In addition, deliveries of new vessels, combined with any developments in the Red Sea situation, will be decisive factors in shaping the market.

“In this environment, the Group remains prudent and is paying close attention to the changing economic and geopolitical situation, while remaining confident in its ability to weather the cycle thanks to its business diversification and financial strength.”