CMA CGM reports excellent performance for 2010

The Board of Directors of France-based CMA CGM, the world's third largest container shipping group, met under the chairmanship of Jacques R. Saade to review the financial statements for the year ended December 31, 2010.

The Group reported revenue of US$14.3 billion for the year, a 36% increase over 2009 that was led by the combined impact of higher volumes carried and improved freight rates. In all, more than nine million TEU were carried during the year, up 15% on 2009. CMA CGM capacity increased by 17.7%, representing 8.6% of worldwide capacity at year-end.

The strong growth in business was accompanied by the sustained deployment of the cost control programs initiated in 2009, which helped to limit growth in operating expenses to 4% in 2010.

EBITDA stood at US$2,516 million for the year, yielding an EBITDA margin of 17.6%, one of the industry highest.

○ Consolidated net profit ended the year at US$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-USA lines have now returned to pre-recession levels after having been severely impacted by the fall-off 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 one of the leading global shipping companies with an ultra-modern fleet, enabling it to achieve extensive economies of scale and optimize customer service.