CMA CGM made updates on the continued growth of its air freight subsidiary, CMA CGM Air Cargo, as the ocean liner announced its overall performance in 2022, which it said was marked by "accelerated development for the Group, driven by strategic acquisitions across the shipping and logistics value chain."
In its announcement, CMA CGM said in line with its commitment to making CMA CGM AIR CARGO a French air freight carrier with a fleet of 12 aircraft by 2026, the Group obtained its Air Operator Certificate (AOC) from the French Civil Aviation Authority (DGAC) on June 1, 2022.
Following the delivery of two Boeing 777Fs, CMA CGM AIR CARGO began operating in early June 2022 from its new base at Paris Charles de Gaulle airport.
CMA CGM said regular service is now offered from Paris-CDG to Hong Kong, Chicago, Miami and Shanghai.
CMA CGM Air Cargo-Air France-KLM partnership
"To drive quicker growth in the business, a long-term strategic air freight partnership was signed with Air France-KLM," the ocean liner said.
It added that the exclusive commercial partnership, which would start operations in April, will enable the parties to jointly market their air cargo networks, full-freighter capacity and dedicated services to build an increasingly competitive array of solutions, thanks to the expertise and global footprint of Air France-KLM and CMA CGM.
"As part of the agreement, the Group acquired a 9% stake in Air France-KLM, becoming its largest private shareholder, and Rodolphe Saadé became a member of the Air France-KLM Board of Directors," the statement added.
CMA CGM noted that the transaction remains subject to the usual regulatory approvals.
Meanwhile, in its announcement, CMA CGM also noted that the general revenue and operating profit of the Group were up year-on-year in 2022, with consumer demand strong in the first half, although a slowdown in the second half of the year pulled back the growth as persistent inflation impact consumer spending.
For the full-year 2022, CMA CGM said revenue stood at US$74.5 billion, a 33% increase versus 2021, led by the Group's maritime shipping business.
The statement noted that EBITDA came to US$33.3 billion, representing an EBITDA margin of 44.7% or 3.4 points higher than the year before — and net income, Group share amounted to US$24.9 billion for the year.
Maritime shipping business boosts growth
CMA CGM said in 2022, 21.7 million TEUs were transported, down 1.3% from 2021, but revenue from the maritime shipping operations rose by 30.1% year-on-year to US$58.9 billion.
EBITDA stood at US$ 31.6 billion versus US$22.1 billion in 2021.
It added that the EBITDA margin last year widened by five points to 53.7%, lifted by the US$2,771 in average revenue per TEU during the year.
