French airline CMA CGM reported a 30 percent revenue increase to $19.9 billion for the third quarter ended September 30, 2022, driven by the group's maritime business.

CMA CGM carried 5.7 million TEUs in Q32022, an increase of 4 percent compared to Q32021. Shipping revenues rose 26 percent to $15.7 billion "only 2 percent lower than the prior quarter, due to the drop in spot freight rates that began in the second quarter and continued into the third quarter."

Logistics revenue was $4.3 billion, while EBITDA was $359 million, driven by maritime and air freight operations.

“The CMA CGM Group delivered another strong performance in the third quarter,” said Rodolphe Saadé, Chairman and CEO of CMA CGM Group. “Over the past two years, we have significantly strengthened our financial structure and developed our business throughout the supply chain. Declining demand has led to a return to more normal international trade flows and a significant reduction in freight rates. In this new environment, we will continue to invest to strengthen our positioning in maritime shipping and logistics, to accelerate our energy transition and to offer our customers even more efficient solutions.”

CMA CGM Air Cargo, the air cargo carrier of the CMA CGM Group, is expanding its services with the recent launch of a new Paris-Hong Kong service, following the delivery of the first two Boeing 777 freighter aircraft. "The CMA CGM Air Cargo fleet currently consists of six aircraft and will consist of 12 cargo aircraft by 2026."

CMA CGM signaled inflation, slowing consumer spending, economic uncertainty and geopolitical tensions for Q42022. "The Group therefore expects a faster return to more normal freight rates and lower margins in the fourth quarter. The Group is therefore closely monitoring geopolitical developments and their possible impact on the economic outlook, but nevertheless remains confident in its financial strength and ability adapt to the uncertain environment."