Third Quarter 2026 Financial Results

On the publication of the Group’s third quarter 2026 financial results, Rodolphe Saadé, Chairman and Chief Executive Officer of the CMA CGM Group, stated:

“In an uncertain geopolitical environment, the Group has delivered a strong performance in the third quarter, driven by the momentum and the increasing volumes of our maritime activities.The positive results of our terminals division, the growth of our air freight business, and the continued expansion of our logistics activities confirm the complementarity of our businesses. They also demonstrate our ability to adapt to changing market conditions. We remain attentive to the evolution of global trade. We are determined to pursue our investments to strengthen our market positions and keep providing innovative solutions to our customers.” 

The third quarter of 2026 took place in a volatile economic environment, with persistent tensions in the Middle East impacting international trade and global supply chains. In this context, both shipping and logistics activities were affected by adjustments made to trade routes and transport networks.

Nevertheless, the global economy demonstrated relative resilience given the scale of the shock to energy prices, while international trade remained dynamic. The Group’s transported volumes therefore increased by 5.5% compared with the third quarter of 2025, outperforming the market. This represents one of the strongest growth rates recorded in recent years. This growth was underpinned by three key drivers:

• Restocking, as companies sought to build up inventories amid ongoing economic and geopolitical uncertainty;
• Increased investment in AI-related infrastructure and data centres;
• Strong momentum in clean technologies and electric vehicles, particularly in China, amid higher hydrocarbon prices.

CMA CGM Group  

The CMA CGM Group leveraged the complementary strengths of its shipping, logistics and terminal operations to offer customers integrated solutions across the entire supply chain.

This strategy is underpinned by investments in port infrastructure, which are essential to expanding the Group’s capacity and strengthening its global network.

The Group also accelerated its transformation through innovation and artificial intelligence across all its businesses. MAIA, its agentic AI platform co-developed with Mistral AI, is being progressively rolled out to employees across its shipping, logistics and media businesses.

In France, the CMA CGM Group confirms its long-term commitment and contribution to the country's economic, maritime and logistics development. The Group supports 96,500 jobs, including 19,100 direct jobs and 77,400 jobs across the wider economy.

CMA CGM continues to strengthen its global shipping network while pursuing the decarbonization of its fleet.

The Group has welcomed the first vessels in its new series of 24,000-TEU containerships, including the CMA CGM NOTRE DAME, CMA CGM PANTHEON and CMA CGM ORSAY, which are deployed on its flagship FAL service connecting Asia and Europe. These are the world's largest LNG-powered containerships operating under the French flag.

CMA CGM also accelerated the energy transition in shipping through several major alternative fuel bunkering operations: bioethanol in Brazil, bio-LNG in Rotterdam and a world-record biomethanol bunkering operation in Shanghai.  

CEVA Logistics expanded its international footprint through the acquisition of FedEx Supply Chain and initiated a simplification of its organizational structure under the leadership of Patrick Moebel, aimed at improving its efficiency and strengthening customer proximity.

CMA CGM further developed its global terminal network, notably through Terminal 4 at the Port of Jeddah in partnership with Red Sea Gateway Terminal, and CMA Terminals' acquisition of a 49% stake in Nador Container Terminal in Morocco.

CMA CGM AIR CARGO strengthened its operations during the quarter, with a fleet of eight aircraft now operating under the CMA CGM AIR CARGO and Air Belgium brands, supported by hubs in France, Belgium and the United States.

CMA Media notably launched CMA Sport, while BFMTV maintained its position as France's leading news channel throughout the quarter. 

CMA CGM Group

In the third quarter of 2026, revenue reached $18.4 billion, up 31.1% compared with the third quarter of 2025.

EBITDA rose to $4.8 billion, up 61.6%, representing an EBITDA margin of 25.9%, a 4.9-point improvement year-on-year. This increase was mainly driven by the strong performance of the maritime business, supported by sustained volumes and elevated freight rates, in line with the second quarter and against a market backdrop related to ongoing disruptions in the Middle East. 

Shipping

In the third quarter of 2026, transported volumes reached 6.5 million TEUs, up 5.5% compared with the third quarter of 2025, driven by robust demand. Revenue from the maritime business reached $12.3 billion, up 37.3% compared with the third quarter of 2025, mainly due to an average revenue per TEU of $1,891, up 30.0% year-on-year.

EBITDA came to $4.0 billion, versus $2.2 billion in the third quarter of 2025. The EBITDA margin improved by 7.5 points to reach 32.4%, reflecting the increase in freight rates compared with the previous year. 

Logistics

Revenue generated by the logistic activity came to $5.46 billion in the third quarter of 2026, up 19.2% compared with the third quarter of 2025, bolstered by both organic growth and scope effects.

EBITDA reached $366 million, down 14.4% compared with the third quarter of 2025. The EBITDA margin stood at 6.7%, a decline of 2.6 points, reflecting a challenging freight forwarding market as well as the persistent difficulties weighing on the automotive sector.

Other activities  

Demand for maritime transport benefited from a strong increase in volumes carried, a trend that is expected to continue over the coming months. Freight rates, which have been rising since the second quarter of 2026, are also supporting the growth of the business.

However, the outlook for the coming months remains uncertain. Tensions in the Middle East continue to disrupt shipping routes and weigh on operating costs, while changes in trade policies will continue to influence international trade flows.

Against this backdrop, the CMA CGM Group maintains a prudent and responsive approach to management. Its presence across the entire logistics chain, the flexibility of its network and the strength of its balance sheet are major assets in order to cope with changes in its operating environment and provide long-term support to its customers.