Solid results for CMA CGM

On the occasion of the publication of the 2025 financial results, Rodolphe Saadé, Chairman and Chief Executive Officer of the CMA CGM Group, stated:

“In an environment marked by significant geopolitical uncertainty, our Group delivered solid results in 2025, driven by the strong performance of our shipping lines.  The continued growth of our terminals and air freight operations, combined with our logistics activities, confirms the relevance of our model. It strengthens our agility and allows us to adjust our operations to the cycles of our industry. In 2026, in a context of heightened tensions, particularly in the Middle East, our priority is clear: protecting our teams and adapting our operations to ensure our customers continue to receive a reliable and high-quality service. At the same time, we are pursuing our development, continuing to invest in our industrial assets and to strengthen our global network.”

A Persistently Unstable Geopolitical Environment

The 2025 financial year unfolded against a backdrop of gradual normalisation in the shipping and logistics sectors. The container shipping industry was shaped by ongoing geopolitical tensions and developments in tariff policies, whose anticipation and successive adjustments increased uncertainty and influenced the reorganisation of global trade flows. In this environment, trade growth remained dynamic, with transported volumes rising by more than 4% year-on-year, driven notably by stronger intraregional flows and increased trade with emerging economies.

At the same time, the continued expansion of global shipping capacity weighed on freight rates, which declined compared with 2024 in an environment that remains volatile.Disruptions on certain major maritime routes, particularly in the Red Sea and the Gulf of Aden, continued to weigh on trade flows and sailing patterns, although their impact on effective capacity gradually eased.

Against this backdrop, the CMA CGM Group demonstrated agility and operational discipline in optimising fleet deployment, adapting its services and controlling costs, while continuing to pursue its strategic investments across the entire value chain.

Group Highlights in 2025

Group

In April 2025, the CMA CGM Group unveiled its purpose: We imagine better ways to serve a world in motion. It applies across all its maritime, land, air, logistics and media activities and was designed to unite its 160,000 employees around a shared mission, reflecting the Group’s commitment to serving its stakeholders and society as a whole.

In April 2025, the Group entered into a five-year strategic partnership with Mistral AI, supported by a €100 million investment. This agreement with the French company aims to accelerate the integration of tailored artificial intelligence solutions across its shipping, logistics and media businesses.

In July 2025, the Group announced its entry into professional cycling by becoming, from the 2026 season onwards, co-title partner of the Decathlon–CMA CGM team under a five-year partnership.

Maritime

In 2025, CMA CGM continued to strengthen its industrial assets and accelerate its energy transition pathway, supported by a new-generation fleet. The Group took delivery of 27 new vessels powered by liquefied natural gas (LNG) and methanol. In pursuit of Net Zero Carbon by 2050, nearly USD 30 billion has already been invested in ordering LNG- and methanol-powered ships. By 2030, more than 200 vessels in the fleet will be capable of running on low-carbon energies such as biomethane, biomethanol or synthetic fuels. While the Group is investing heavily in this new generation of vessels, their full potential will be realised as the availability and competitiveness of low-carbon fuels increase globally.

In France, the Group announced that ten 24,000 TEUs LNG-powered vessels will be registered under the French flag starting in 2026. The French-flagged fleet will thus reach 40 vessels, representing an increase of more than 30%.

Through the She Sails programme, CMA CGM doubled the number of women seafarers in its workforce in 2025, rising from 200 to more than 400. The Group is further strengthening its ambitions and now aims to have 1,000 women on board by the end of 2030.

Terminals

Operational control of container terminals is a strategic priority for shipping lines. It enables better end-to-end supply chain management and improves operational efficiency and service quality for customers. In 2025, CMA CGM invested $2.5 billion to continue expanding its portfolio of 66 terminals across 40 countries. The Group is thus strengthening its presence in key growth geographies, with the aim of enhancing service reliability and supporting the evolution of global trade routes.

In Asia, CMA CGM entered into a partnership to develop a deep-water terminal in Hai Phong (Vietnam), alongside a 100% electric barge project in Cai Mep. In Latin America, the Group finalised in December the acquisition of Santos Brasil and now holds 100% of the capital of the largest container terminal in South America, located at the Port of Santos. In the Middle East, the Group strengthened its strategic footprint by signing a memorandum of understanding for the development and operation of its first container terminal in Saudi Arabia, Terminal 4 at Jeddah Port, increasing its target capacity to 2.6 million TEUs. In the United Arab Emirates, the expansion of the Khalifa Port terminal will raise its capacity from 1.8 to 2.7 million TEUs (+50%). In Egypt, CMA CGM acquired a 35% stake in October Dry Port, a strategic logistics and rail platform, and continued to expand its regional port positions.

In Europe, CMA CGM signed an agreement to acquire a 20% stake in the Eurogate terminal in Hamburg, whose capacity will increase from 4 to 6 million TEUs. In April, the consortium led by CMA CGM (67%) launched a 30-year concession to operate the Port Édouard Herriot container terminal, now Lyon Rhône Terminal, with the objective of developing the Mediterranean–Rhône–Saône corridor, including a project for an electric river barge. By 2030, the goal is to double decarbonised multimodal volumes in Lyon.

Logistics

CEVA Logistics finalized the acquisition of Borusan Lojistik, a leading player and national leader in logistics in Turkey. This transaction represents a major milestone in its development in the country, strengthening its presence and expanding its expertise in contract logistics and ground transportation. It reinforces its position as a leading Third-Party Logistics (3PL) provider in a dynamic market at the strategic crossroads of Europe, the Middle East and Asia.

In December 2025, CEVA Logistics signed an agreement to acquire Fagioli Group, a global specialist in project logistics and heavy-lift transport. This transaction will enhance the Group’s capabilities in highly technical solutions and enable it to offer fully integrated end-to-end services to the energy, infrastructure and industrial sectors.

In automotive logistics, the expansion of global finished vehicle maritime transport activities resulted in the operation of a fleet of nine dedicated vessels, including new roll-on/roll-off (Ro-Ro) ships with capacities ranging from 5,500 to 7,000 CEUs.

Other Activities

In 2025, the Group accelerated the implementation of its intermodal development strategy.

In September, the CMA CGM Group announced the acquisition of Freightliner Ltd, a leading intermodal rail freight operator in the United Kingdom, strengthening its integrated and low-carbon intermodal offering, while Freightliner retains its operational autonomy as a multi-customer operator.

In 2025, the Group acquired Air Belgium, now integrated into its dedicated air cargo division, which operates eight freighter aircraft under the CMA CGM AIR CARGO and Air Belgium brands. The fleet was further strengthened with the delivery of a fifth B777F, deployed on a transpacific route. Operations rely on strategic hubs in France, the United States and Belgium, providing optimized connectivity across major international air freight corridors.

In the media sector, the Group finalized the acquisition of Brut in September 2025 and of Chérie 25 in October. Through these two transactions, CMA Media strengthened its position as a major player in the French media landscape, addressing all audiences and covering all channels: regional and national press, television, radio and digital platforms. Brut enables the Group to offer advertisers a powerful social media proposition in France and internationally. The acquisition of Chérie 25, now rebranded as RMC Life, consolidated the audiovisual division and enhanced the entertainment offering built around strong brands. Finally, 2025 marked a key structuring milestone for CMA Media, with governance organized around three divisions: Audiovisual, Press and Social.

In addition, the editorial teams of La Provence, BFM Marseille, as well as the regional offices of La Tribune and La Tribune Dimanche, were progressively brought together at Grand Central, CMA Media’s new headquarters in Marseille.

Business Activity and Financial Performance for 2025

CMA CGM Group

For the 2025 financial year, revenue amounted to USD54.4 billion, down 2.0% compared to 2024, primarily due to lower revenue from container shipping activities. EBITDA reached USD 10.6 billion, representing an EBITDA margin of 19.4%, down 4.8 percentage points compared to 2024.

The CMA CGM Group continues to benefit from a strong balance sheet, enabling it to approach 2026 with confidence despite geopolitical and sectoral uncertainties.

Maritime Activity

For the year 2025, transported volumes reached 24.2 million TEUs, up 2.8% compared with 2024, driven by sustained demand. Transported volumes increased by 5.3% in the fourth quarter, outperforming the market. Annual revenue for the shipping container declined 6.1% versus 2024, reaching USD 34.3 billion. EBITDA stood at USD 7.9 billion, compared with USD 11.2 billion in 2024. The EBITDA margin fell 7.8 points to 23.0%, reflecting an average revenue per TEU of USD 1,414 over the year, down 8.7%.

Logistics Activity

Logistics revenue amounted to USD18.3 billion in 2025 and remained relatively stable compared to 2024. EBITDA reached USD1.7 billion, down 2.2% compared to 2024. The EBITDA margin stood at 9.4%, a decrease of 0.2 percentage points, reflecting pressure on freight management activities due to a volatile market environment as well as challenges affecting the automotive sector. Contract logistics activities, meanwhile, delivered strong performance over the year, with both revenue and profitability increasing.

2026 Outlook

In 2026, container shipping is expected to record moderate growth worldwide, following a dynamic year in 2025. However, developments in the Middle East, particularly in the Red Sea, will be key factors influencing market balance and freight rate trends. The Group remains vigilant and attentive to ongoing tensions surrounding trade policies, as well as to macroeconomic and geopolitical developments affecting strategic maritime corridors.

In this uncertain environment, the Group will be able to rely on the diversification of its activities, the flexibility of its network, and its financial strength. The integration of Freightliner and Fagioli, the strengthening of its terminal positions through the creation of the United Ports joint venture, as well as the development of its activities in France – particularly in Lyon – and internationally, notably in India, reflect the consistent implementation of its strategy and the resilience of its business model.

Across all its operations, the Group’s absolute priority remains the safety and protection of its seafarers and employees.