CMA CGM Group first-half 2010 results

The Board of Directors of France-based CMA CGM, the world? third largest container shipping Group, met under the chairmanship of Jacques R. Saade to review the financial statements for the six months ending June 30, 2010.

The recovery in business that began to emerge in late 2009, gained further momentum during the first six months of 2010.

Revenue for the period amounted to $6.8 billion, up 41% over the first-half of 2009, while freight volumes rose by nearly 22% year-on-year to 4.4 million TEU. The lower fixed-cost base resulted in one of the shipping industry highest operating margins (EBITDA), at 15.5% for the first half and 18.8% for the second quarter alone.

These results reflect the Group strategic decisions to invest in large containerships and to deploy a cost-reduction plan. Other contributing factors were the upturn in the global economy, which drove an increase in both volumes carried and freight rates, and the strong commitment of all of the Group teams.

With its international presence through its own network of agencies, especially in China, CMA CGM Group is ideally positioned to strengthen its role as a leading global operator in its different markets.