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Preliminary Unaudited Consolidated Financial Highlights For Half Year Period Ended 30 June 2020

15 October 2020

Note: The information presented defers from the information published by CMA CGM Group due to purchase price allocation adjustments, among others.

1H2020 1H2019 Change
Revenue (US$m) 2,673 3,336 -663
Core EBITDA (US$m) 386 77 +309
Core EBIT* (US$m) 210 (119) +329
Net profit/(loss) excluding Non-Recurring Items (US$m) 150 (191) +341
Net profit/(loss) including Non-Recurring Items (US$m) 436 (198) +634
Volume (‘000 TEUs) 2,216 3,133 -917
Average Revenue per TEU (US$/TEU) 1,206 1,065 +141
*Earnings Before Interest, Taxes and Non-Recurring Items

Operations Review

For the first half of the year ended 30 June 2020, APL* reported a net profit of US$436 million, versus a loss of USD$198 million over the same period in 2019.

Core EBITDA rose 401% to US$386 million from US$77 million over the same period last year, which was attributable to stringent capacity discipline as well as lower bunker and operational costs.

Trade Performance

As global container volumes fell arising from lockdown measures in several countries, APL’s lower volume also follows the transfers of its services on the Asia-Europe and Transatlantic trade lanes to CMA CGM since 1 October 2019.

Service and Network Development

In the first six months of 2020, approximately 10 new and enhanced CNC services were introduced for the Intra-Asia shortsea market. In particular, the China Vietnam Cambodia service was launched in April to serve as an alternative Cambodia-Vietnam sea route when land border between the two countries was closed to contain COVID-19.

Further diversifying its earning streams, shippers were offered a BUSINESS CONTINUITY PACK of customised solutions to help them cope with the COVID-19 pandemic.

For instance, the PACK offers SEAPRIORITY Go that enables customers to prioritise the fast transportation of urgent shipments; while DELAY IN TRANSIT allows shippers to temporarily store their non-urgent cargoes in a dedicated hub until it is timely for them to be received at final destinations.

The PACK also comprises NETWORKING Intermediation Services, SHIPFIN Trade Finance and SERENITY Cargo Value Guarantee to help shore up support for shippers’ business activities during this challenging period.

Neptune Orient Lines Limited Renamed as CMA CGM Asia Pacific Limited

From 1 October 2020, Neptune Orient Lines Limited has been renamed as CMA CGM Asia Pacific Limited. Redesigned as the CMA CGM Group’s major regional hub, this Singapore-based hub will drive CMA CGM’s development in the Asia-Pacific region and focus on delivering end-to-end shipping and logistics solutions. ANL Container Line Pty. Limited has became a subsidiary of CMA CGM Asia Pacific Limited as part of this development.

Moving forward, APL will focus exclusively on servicing the United States Government; and the Guam-Pacific trade. CNC continues to be the Intra-Asia short-sea specialist brand while ANL remains a leading carrier on the Oceania trade.

CMA CGM Asia Pacific Limited's 1H2020 Performance Review can be downloaded from here. For more information on CMA CGM Group's financial performance, click here.

*Note: APL is the trading name of CMA CGM Asia Pacific Ltd
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