On May 22, CMA CGM released its financial results for the first quarter of 2026. Against a backdrop of escalating geopolitical tensions and intertwined global trade uncertainties, the Group maintained stable revenues but experienced a cliff-like drop in net profit, highlighting the structural challenges currently facing the shipping industry.

According to the financial report, CMA CGM’s total revenue for Q1 2026 stood at $13.23 billion, essentially flat compared to $13.26 billion in the same period last year, representing a marginal year-on-year decline of 0.2%. However, profitability metrics saw a significant downturn: EBITDA fell by 31.7% from $3.09 billion in the previous year to $2.11 billion. The EBITDA margin narrowed from 23.3% to 15.9%, a decrease of 7.4 percentage points. Furthermore, net profit attributable to the equity holders of the parent company plummeted from $1.12 billion to $250 million, marking a staggering drop of 77.7%.

Commenting on the results, Rodolphe Saadé, Chairman and CEO of CMA CGM, stated in an earnings release: "In a context marked by significant geopolitical uncertainty, CMA CGM delivered resilient performance in the first quarter of 2026, driven by the strength of our maritime business and the diversification of our business model." He described the performance as "resilient."

As the core segment of CMA CGM, the Liner business handled a volume of 5.93 million TEUs in the first quarter, up 1.4% year-on-year, reflecting sustained vitality in global trade demand despite turbulent market conditions. However, this increase in volume failed to translate into higher rates—the average freight rate per TEU dropped to $1,352, a 9.7% decline year-on-year. Consequently, total Liner revenue fell by 8.5% to $8.02 billion. Liner EBITDA plunged by 41.1% to $1.49 billion, while the EBITDA margin contracted by 10.3 percentage points to 18.6%.