Despite a challenging geopolitical and trade landscape, the CMA CGM Group has reported a stable performance for Q2 2025, bolstered by its diversified operations and continued investment in innovation, logistics, and decarbonization.
The CMA CGM Group, a global player in shipping, logistics, and air cargo, held its Q2 2025 board meeting under the chairmanship of Rodolphe Saadé, Chairman and CEO. The Group posted $13.2 billion in revenue—unchanged from Q2 2024—and an EBITDA of $2.3 billion, down 7.9%. Its operating margin dipped slightly to 17.3%, reflecting ongoing global trade volatility.
Shipping operations remained the Group’s core strength, transporting 6 million TEUs in a volatile market. Although average revenue per TEU fell to $1,367 (down 1.2%), CMA CGM maintained volume, thanks to rapid asset redeployment amid shifting trade flows—particularly between China and the United States.
EBITDA from maritime activity stood at $1.6 billion, down nearly 20% year-on-year. The impact of Red Sea disruptions and reduced transpacific trade during the quarter significantly weighed on profitability, with a margin decline of 4.5 percentage points to 19.4%.
Meanwhile, the Group’s logistics arm, CEVA Logistics, delivered stronger margins. While revenue decreased slightly to $4.6 billion, EBITDA improved by 2% quarter-on-quarter to $459 million. Contract logistics showed strong momentum, offsetting weaker performance in finished vehicle logistics and road transport, particularly in Europe. The EBITDA margin rose to 9.9%.
Diversification efforts paid off in the “other activities” segment—encompassing air cargo, terminals, and media—which recorded a sharp revenue increase of 62.7% to $1 billion. EBITDA surged to $239 million from $51 million in Q2 2024, largely due to the integration of Brazilian port operator Santos Brasil. The segment’s margin jumped 15 points to 23%.
The second quarter also featured significant operational milestones across global markets:
- In Brazil, CMA CGM secured a 51% controlling stake in Santos Brasil, expanding its port terminal network in Latin America.
- In Vietnam, a joint project with Saigon Newport for a deep-water terminal in Hai Phong and the development of an all-electric barge powered by solar infrastructure in Cai Mep marked a step forward in sustainable transport.
- In Egypt, the Group acquired 35% of the October Dry Port and assumed operational management.
- The Group also launched operations in Lyon, France, under a new container terminal sub-concession at Port Edouard Herriot, reinforcing its domestic intermodal footprint.
- In India, the CMA CGM Vitoria became the company’s first Indian-flagged vessel to call at Nhava Sheva Free Port.
CEVA Logistics made moves to strengthen its global logistics reach with a memorandum of understanding to acquire Turkey’s Borusan Tedarik, and broke ground on a 25,000 m² logistics base in Kribi, Cameroon, due to open by September. In the automotive sector, CEVA expanded its car carrier fleet with two new RoRo vessels holding up to 7,000 CEUs each.
Decarbonization remained central to CMA CGM’s long-term strategy. New fleet additions included multiple dual-fuel LNG-powered ships, such as the 8,000 TEU CMA CGM Byblos, Petra, Baalbeck, and Palmyre. Methanol-powered vessels—including CMA CGM Argon, Iron, and Cobalt—also entered service. Two 23,000 TEU LNG vessels, CMA CGM Seine and Saint Germain, further boosted the fleet.
By 2029, the Group aims to operate at least 162 dual-fuel vessels, 24 of which will run on methanol. A strategic joint venture with TotalEnergies will add a 20,000 m³ LNG bunker vessel in Rotterdam by 2028, signaling a first-of-its-kind collaboration between shipping and energy sectors to accelerate maritime decarbonization.
The Group is also pushing into AI, working with Mistral AI to implement custom artificial intelligence systems across logistics, shipping, and media. In the air cargo sector, the recent acquisition of Air Belgium’s cargo division strengthens CMA CGM AIR CARGO’s European network.
Meanwhile, CMA Media expanded its media footprint with improved ratings at RMC BFM, the launch of AI-powered article listening service MAX at La Provence, and exclusive talks to acquire digital media firm BRUT, a top content producer on TikTok and Instagram.
Looking ahead, CMA CGM signals caution amid ongoing macroeconomic instability and the resurgence of tariff barriers, particularly linked to U.S. trade policy. While market volatility is expected to persist, the Group’s focus remains on agile operations, cost control, and long-term investments in sustainable growth.
