CMA CGM Group reports 2024 revenue of USD 55.5 bln

Commenting on the results for the year, Rodolphe Saadé, Chairman and Chief Executive Officer of the CMA CGM Group, said:  

“Our Group has delivered strong results this year, driven by our shipping activities. 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.” 

A troubled geopolitical environment

After a year of normalization for the transport and logistics industry in 2023 following the COVID pandemic, 2024 saw increased demand for maritime container shipping. While buoyed by stronger-than-expected growth in world trade and inventory rebuilding, global capacity faced a negative shock from geopolitical tensions.

Throughout 2024, global maritime shipping was disrupted by major tensions in the Red Sea and Gulf of Aden, forcing vessels to avoid the area and take an alternative route via the Cape of Good Hope. This impacted effective capacity, while the expected increase in tariffs impeded the fluidity of world trade in 2024.

In this environment, which was shaped by conflicts in the Middle East and Ukraine, CMA CGM demonstrated its agility by optimizing fleet deployment, shipment routes and freight management, while improving supply chain efficiency and controlling costs.

2024 highlights

Maritime

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-fueled vessels (Liquefied Natural Gas). 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 the future, the diversity of technologies and the availability of greener fuels, such as biomethane or biomethanol, will remain a major challenge for the CMA CGM Group and the industry.

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. In September, the Group signed an agreement to acquire around 48% of Santos Brasil, the leading port infrastructure operator in Brazil and owner of the largest container terminal in South America. The transaction remains subject to the usual regulatory approvals.

In 2024, the Group signed a joint partnership agreement with Marsa Maroc to operate part of the Nador West Med container terminal and inaugurated the Khalifa terminal in Abu Dhabi, which has strengthened CMA CGM’s position in the Middle East, a key hub for international trade.

These initiatives reflect the CMA CGM Group’s ambitious strategy to develop its infrastructure portfolio supporting the development of its shipping lines.

Logistics 

The CMA CGM Group has strengthened its position as a major player in the global supply chain with the acquisition of Bolloré Logistics, the biggest acquisition in the Group’s history since its creation in 1978. This acquisition positioned CEVA Logistics as one of the world’s top five logistics operators in 2024.

CEVA Logistics has increased its presence in Saudi Arabia by signing a joint venture agreement with Almajdouie Logistics to provide integrated end-to-end logistics services to Saudi companies.

Lastly, as official logistics partner for the Paris 2024 Olympic and Paralympic Games, the CMA CGM Group, via its CEVA Logistics subsidiary, played a crucial role in the reception, storage, preparation and customs clearance of goods and equipment for the world’s biggest sporting event.

Other activities 

In 2024, CMA CGM Air Cargo, now operating independently, continued its expansion by taking delivery of its third Boeing 777-200F, deployed on a new transpacific route connecting Asia to North America.

In the media sector, the Group completed the acquisition of RMC-BFM in July 2024. With this transaction, CMA Media has become the third largest private media group in France. It includes a diversified brand portfolio with RMC and BFM, and a press division operating a range of regional and national daily titles (La Tribune Dimanche, La Tribune, La Provence and Corse Matin).

2024 Operating and financial performance

CMA CGM Group 

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.

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

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.

Shipping 

In all, 23.6 million TEUs were carried over the year, up 7.8% from 2023, driven by sustained demand. 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.

Logistics  

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 margin 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.

Other activities

Other businesses include terminals, CMA CGM AIR CARGO and the Media business.