CMA CGM posts first quarter profit of US$48m

CMA CGM delivered a net result of US$48m in the first quarter of the year, aided by cost control, capacity reductions and terminal sales, which helped to offset a 4.6% drop in volumes.

During Q1, the company adjusted its deployed capacity in response to evolving market conditions, related to the COVID-19 pandemic, while its operating margin increased to 13.5%.

Rodolphe Saadé, chairman and CEO of CMA CGM Group, said: “The good results of the first quarter demonstrate the strength and the resilience of the Group.