CMA CGM saw its net income plummet by 82% to US$1.3bn in Q2 2023, because of a much weaker market environment in transport and logistics compared to highs during the pandemic.
The French company noted that the market remained depressed despite a rebound in demand for transport in the second quarter of 2023 compared with the previous quarter, driven by a degree of macroeconomic resilience and lower energy prices.
Across its business, revenue fell by 37% to US$12.3bn and EBITDA was down by 73% to US$2.6bn.
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