CMA CGM nets $2.5 billion in 2010

CMA CGM nets $2.5 billion in 2010    French liner carrier CMA CGM had operating profits of $2.5 billion in 2010 after losing $667 million in 2009, according to a financial update the line issued Friday.
   The privately held carrier issues details about its financial position annually, despite the fact it isn’t required to do so. After struggling through a torrid 2009, the line bounced back in a big way in 2010, following news Wednesday that market leader Maersk Line netted $2.8 billion in profits last year. CMA CGM only discloses its earnings before interest, taxes, depreciation, and amortization (EBITDA), while American Shipper typically uses earnings before interest and taxes (EBIT) numbers to report the operating profits or losses of container lines.
   Either way, CMA CGM, the third-biggest container line by fleet capacity, drastically increased its profit margin from 2008, when it earned $1.3 billion in operating profit on marginally lower volume.
   CMA CGM said its 2010 revenue was 36.2 percent higher than in 2009, at $14.3 billion, on volume that rose 14.7 percent to 9 million TEUs. Compared to 2008, CMA CGM, operating profits were up 99.5 percent, volume was up 4.4 percent and revenue was down 5.3 percent
   “All of the markets saw strong growth during the year,” the line said in a statement. “The Asia/Europe and intra-Asia lines enjoyed record business, while the Asia/USA lines have now returned to pre-recession levels after having been severely impacted by the falloff in world trade.”
   The line said it took delivery of 20 vessels in 2010 — 12 owned and eight chartered — as its fleet grew 17.7 percent from 2009. ' Eric Johnson