The financial results presented on February 23rd by the French transport and logistics group for the year 2023 are in tune with the bad times in the container sector. But the company's logistics business, embarked on an air-sea-land strategy, contributed 32% of sales versus 21% in 2022, and operating profit 15% versus 3.7% in 2022.

After two boom years marked by exceptional profits thanks to soaring freight rates, the shipping sector entered a more volatile and, above all, more difficult cycle last year.

The financial results presented on February 23 by CMA CGM for 2023 are in line with the difficult times ahead.

The French transport and logistics group posted sales of $47 billion, down 36.9%, with annual profits reduced from $24.9 to $3.6 billion in one year.

While sales in the maritime sector have fallen sharply (from $59 to $31.4 billion between 2022 and 2023), logistics have gained ground.

"Greater resilience"

Logistics is proving more resilient than ever," says a delighted Rodolphe Saadé, whose group has made a number of acquisitions in recent years (Gefco, Ingram CLS, Colis Privé and Bolloré logistics, currently in the closing stages). Our group can now rely on two solid pillars, which will enable us to cope better with cyclical changes".

Logistics sales were down 5.5%, but contributed $15.2 billion to Group sales, or 32% of the total, compared with 21% in 2022.

Ebitda increased by 12.5% compared with 2022, reaching $1.37 billion, or 15% of the Group's EBITDA, versus 3.7% in 2022.

Adeline Descamps A.D