CMA CGM closed 2021 with nearly $56 billion in revenues and a 78% increase on 2020. An impressive net income, which reached a hyperbolic $17.94 billion (+910% on 2020).
As a well-known French periodical, La Tribune put it, the big carrier earned as much in one year as the leading French oil group, TotalEnergie.
The merit is mainly to be attributed to containerized shipping, which allowed the company to total $45.29 billion in revenues (+88.5%). The shipping company handled 22 million TEUs between January and December, closing the year up 5% on 2020.
According to CMA CGM CEO, Rodolphe Saadé, the group is going to invest 14 billion dollars in developing the company and in its logistics sector. In terms of terminal activities, it intends to complete its acquisition of 90% of Fenix Marine Services Terminal at the Port of Los Angeles. On the logistics front, CMA CGM will continue its investments in the Commerce & Lifecycle Services activities in both the American Ingram Micro and the Colis Privé company, both acquired in 2021.
Translation by Giles Foster
