The CMA CGM Group recorded a decline in its results during the third quarter of 2025 (3Q25) compared to the previous year, with a slowdown in maritime activity , in a year that continues to be significantly affected by the geopolitical context and trade tensions, particularly between the United States and its main trading partners, according to its financial report.
However, the Group’s results improved quarter-on-quarter after a second quarter marked by a near-total standstill in trade between China and the United States. Disruptions related to the situation in the Red Sea and the Gulf of Aden have continued to pose numerous operational challenges.
In Q3 2025, revenue totaled $14 billion, down 11.3% from the same period last year . EBITDA reached $3 billion, a 40.5% decrease year-over-year. The margin was 21.0%, down 10.3 percentage points.
Maritime transport
In Q3 2025, the global container shipping market experienced a mixed environment due to unpredictable changes in trade policies. Nevertheless, volumes remained dynamic, driven by strong regional trade and South-South exchanges, while major East-West routes were being reconfigured.
CMA CGM transported 6.2 million 20-foot containers (TEUs) in the third quarter of 2025, up 2.3% from the third quarter of the previous year and 3.4% from the second quarter of 2025, despite market volatility.
The increased volumes occurred against a backdrop of significant disruptions to trade between China and the United States during the period, characterized by periods of pauses and resumptions, and demonstrate the Group’s ability to redeploy its assets and capture demand wherever it arises. The breadth and diversification of CMA CGM’s maritime operations, with a presence on the world’s major trade routes , enable the Group to adapt nimbly to changes in the market environment and demand.
The Group’s maritime revenues reached $9 billion in the third quarter , a 17.4% decrease compared to the same period in 2024. EBITDA stood at $2.2 billion, representing a 48.8% drop compared to the third quarter of 2024. The margin was 24.9%, down 15.3 percentage points. Average revenue per TEU was $1,452, a 19.2% decrease compared to the same period in 2024.
Logistics
In the third quarter, the Group’s logistics activities recorded a decrease in revenue and EBITDA, along with a slight drop in margin, mainly due to difficulties in the automotive market that affected the performance of finished vehicle logistics and land transport, particularly in Europe, as well as weakness in freight management activities in a volatile market environment.
Logistics revenues totaled $4.6 billion. EBITDA reached $428 million, down 6.8% from the third quarter of 2024. The margin stood at 9.3%, down 0.2 percentage points.
Other activities
Revenue from other activities (terminals, CMA CGM Air Cargo, CMA Media, etc.) increased by 55.0% to US$1.2 billion, driven by the integration of Santos Brazil. EBITDA reached US$299 million, compared to US$151 million in the third quarter of 2014. The margin stood at 24.6%, an increase of 5.3 percentage points.
Perspectives
In an uncertain environment, the CMA CGM Group reported that it maintains a prudent stance, while managing its operations in an agile and efficient manner and applying strict cost control to preserve its competitiveness.
“In a global environment that remains highly uncertain, our Group continues to demonstrate resilience and discipline. Ocean freight remains strong, our terminals are gaining momentum, and air freight continues to perform well, illustrating, together with logistics, the growing complementarity of our activities. The coming months are likely to be characterized by increased capacity in our sector and lower market demand. CMA CGM will continue to adapt, guided by our long-term vision and our unwavering commitment to customer service,” according to Rodolphe Saadé, Chairman and CEO of the CMA CGM Group, quoted in the financial report.
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