CMA CGM reported a mixed third quarter for 2025 as geopolitical tensions, volatile trade flows, and ongoing Red Sea disruptions continued to pressure profitability. Despite the headwinds, the French shipping group pressed ahead with major global investments aimed at boosting long-term competitiveness.
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The company recorded revenue of $14.0 billion, down 11.3% from Q3 2024, while EBITDA fell 40.5% to $3.0 billion, bringing its margin to 21%, a drop of more than 10 points year-over-year.
Chairman and CEO Rodolphe Saadé acknowledged the turbulent backdrop but highlighted the group’s resilience. “In a global environment that remains highly uncertain, our Group continues to demonstrate resilience and discipline,” he said, noting steady performance across shipping, terminals, air freight, and logistics.
CMA CGM handled 6.2 million TEUs in the quarter—up 2.3% year-over-year—despite what it described as “stop-and-go” swings in China–U.S. trade. However, maritime revenue slid 17.4% to $9.0 billion, with average revenue per TEU falling 19.2% to $1,452 amid weaker freight rates.
The logistics unit also faced pressure from a struggling automotive market in Europe, posting revenue of $4.6 billion and EBITDA of $428 million, slightly below last year’s performance.
A standout came from the group’s terminals and air cargo operations. Revenue surged 55% to $1.2 billion, while EBITDA nearly doubled to $299 million, buoyed by the integration of Santos Brasil and broader network growth.
Even as market conditions soften, CMA CGM is accelerating expansion. The company will register ten 24,000 TEU LNG-powered megaships under the French flag beginning next year—part of a strategy Saadé described as prioritizing stability and competitiveness.
In India, the group has committed to building six 1,700 TEU LNG vessels for delivery starting in 2029, marking the foundation of an India-flagged fleet. CMA CGM plans to hire 1,000 Indian seafarers by end-2025, plus another 500 in 2026.
The company is also deepening its Middle East footprint through a joint venture with Red Sea Gateway Terminal to build and operate Terminal 4 in Jeddah, which will add 2.6 million TEU of capacity and support Saudi Arabia’s Vision 2030 ambitions.
In Europe, CMA CGM moved to acquire a 20% stake in Eurogate Container Terminal Hamburg and announced the purchase of Freightliner UK Intermodal Logistics, one of Britain’s largest rail freight operators. The Freightliner deal is expected to close in early 2026, pending regulatory approval.
Looking ahead, Saadé warned that rising industry capacity and softening demand could weigh on performance. Still, he emphasized that CMA CGM will remain agile, maintain strict cost controls, and continue investing where opportunities align with its long-term vision.
