CMA CGM Delivers Resilient Results in the First Quarter Amid Heightened Geopolitical Tensions

Chennai:

Port Wings News Network:

CMA CGM Group, a global player in sea, land, air and logistics solutions, on 22 May, 2026 released its first-quarter 2026 results.

For the period, CMA CGM Group has delivered resilient results and demonstrated its ability to adapt in the context of heightened geopolitical tensions and a volatile market environment.

On the occasion of the publication of the Group’s first-quarter 2026 results, Rodolphe Saadé, Chairman and Chief Executive Officer of the CMA CGM Group, stated: “In an uncertain geopolitical context, the Group delivered resilient performance in the first quarter of 2026, supported by the strength of our shipping activities and the diversification of our business model. While tensions in the Middle East and disruptions across global supply chains continued to weigh on the industry, we adjusted our network, implemented alternative logistics corridors and maintained reliable service for our customers. Looking ahead, our priority remains clear: protecting our people, managing risks with discipline and preserving the Group’s agility as we continue to grow and develop.”

The first quarter of 2026 took place in a still-volatile market environment for shipping and logistics, marked by persistent geopolitical tensions and ongoing macroeconomic and trade uncertainties.

In this context, the CMA CGM Group continued to demonstrate agility and operational discipline to optimize fleet deployment, adapt its services and control costs, while pursuing strategic investments across the entire value chain.

SHIPPING SEGMENT

In shipping segment, CMA CGM recorded volume growth and continued to adapt its network and services. The Group announced the launch of the “DAY 10” product within the OCEAN Alliance, featuring 41 services operated on the main East-West trade routes and a total capacity of 5.3 million TEUs.

Several services were launched, including the Ocean Rise Express connecting Japan, South China and Northern Europe, while others were strengthened, such as the Eagle Express 1 between Japan and the U.S. West Coast.

In March, CMA CGM launched the PCRF XL service, an enhanced weekly connection between Northern Europe, the French West Indies and Central America, operated with seven 6,000-TEU vessels, targeting 300,000 transshipped containers annually by 2027 as part of the “Caribbean Hub” strategy.

Lastly, in response to the disruption in the Strait of Hormuz, the Group implemented alternative multimodal corridors to maintain supply chain continuity to and from Gulf countries despite navigation constraints.

The Group also continued to modernize its fleet with the entry into service of the CMA CGM MONTE CRISTO, the Group’s 400th owned vessel and the first in a new series of methanol-powered container ships.

LOGISTICS SEGMENT

In logistics, CEVA continued its development by strengthening its capabilities and completing its service offering, while recording revenue growth of 6.6%.

In air freight logistics, CEVA signed a global contract with HAECO for the management of aeronautical component flows, as well as an agreement with Airbus Helicopters to operate a regional distribution center in Singapore.

CEVA also continued to expand its automotive logistics activities with a €9 million investment at the Port of Tarragona (Spain), adding 94,000 sqm of space and newcapacity to handle 4,500 vehicles.

The Group also launched a “Mobility & Fleet Management” offer, dedicated to fleet management and opened its first European Proximity Center in Gennevilliers, France.

CEVA further strengthened its low-carbon offering with the launch of a transatlantic wind-powered maritime transport service as part of its FORPLANET offering.

AIR FREIGHT SEGMENT

In air freight, CMA CGM AIR CARGO continued to develop its activities over the quarter, relying on a fleet of eight aircrafts operated under the CMA CGM AIR CARGO and Air Belgium brands. The air cargo operations are structured around strategic hubs in France, Belgium, and the United States, to provide the Group’s customers with transport solutions that complement its maritime and logistics activities.

CMA CGM GROUP’S INVESTMENT STRATEGY

In India, CMA CGM ordered six LNG-powered container ships from Cochin Shipyard and established an R&D center with Capgemini to develop digital and AI solutions for its operations. The Group also plans to recruit up to 1,500 Indian seafarers by the end of 2026.

On 28 January, CMA CGM signed a strategic partnership with Stonepeak to set-up a global port joint venture, United Ports LLC. This new entity will gather ten strategic terminals located across North America, Europe, Latin America and Asia. Stonepeak will invest $2.4 billion to acquire a 25% stake in the joint venture.

CMA CGM also finalized the acquisition of Freightliner UK, a leading rail freight operator in the United Kingdom.

Lastly, CEVA Logistics acquired the Italian group Fagioli, specialized in project logistics and heavy-lift transportation, further strengthening the Group’s capabilities to manage complex operations.

BUSINESS ACTIVITY AND FINANCIAL PERFORMANCE FOR FIRST-QUARTER 2026

CMA CGM Group

In the first quarter of 2026, revenue amounted to USD 13.2 billion, stable compared to the first quarter of 2025 (-0.2%), in a volatile environment marked by persistent geopolitical tensions, in particular in the Middle East.

EBITDA reached USD 2.1 billion, down 31.6%, representing an EBITDA margin of 16.0%, a decrease of 7.3 points compared to the first quarter of 2025. This decline is mainly attributable to the maritime activity, due to a high comparison base in the first quarter of 2025 and a less favorable market environment in the first quarter of 2026.

Maritime Activity

In the first quarter of 2026, transported volumes amounted to 5.9 million TEUs, slightly up by 1.5% compared to the first quarter of 2025, driven by growing demand in a volatile market environment. Maritime revenue reached USD 8.0 billion, down 8.5% compared to the first quarter of 2025, mainly due to an average revenue per TEU of USD 1,351, decreasing by 9.8% year-on-year.

EBITDA stood at USD 1.5 billion, compared to USD 2.5 billion in the first quarter of 2025. The EBITDA margin declined by 10.3 percentage points to 18.6%, reflecting lower freight rates compared to the previous year, despite a rebound in spot rates at the end of the quarter.

Logistics Activity

Logistics revenue amounted to USD 4.6 billion in the first quarter of 2026, up 6.6% compared to the first quarter of 2025, mainly due to perimeter effects and foreign exchange impacts.

EBITDA reached USD 330 million, down 17.2% compared to the first quarter of 2025. The EBITDA margin stood at 7.2%, a decrease of 2.1 points, reflecting pressure on freight management activities in a deteriorated market environment, as well as ongoing challenges affecting the automotive sector.

Other Activities

Revenue from other activities increased by 59.1% in the first quarter of 2026, reaching USD 1.3 billion, driven by perimeter effects and strong momentum in the Terminal activities.

EBITDA reached USD 294 million, up 90.0% compared to the first quarter of 2025, corresponding to a margin of 22.9%, an increase of 3.7 points, mainly reflecting improved profitability in the Terminal business, Air Cargo activities, and the contribution of recently consolidated operations.

Outlook

The escalation of tensions in the Middle East continues to impact shipping patterns and remains a key factor in the evolution of market balance and operating costs, particularly amid rising oil prices and changes in freight rates. Countries’ decisions related to trade policies and tariffs also continue to affect the organization of global trade flows. In this uncertain environment, the CMA CGM Group remains vigilant and will rely on the diversification of its activities, the flexibility of its network, and its strong financial position.

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