The CMA CGM group has reported results for the first quarter of 2026, a period marked by persistent geopolitical tensions in the Middle East and a volatile commercial environment that has affected the evolution of the maritime and logistics sector globally. The French company recorded revenues of $13.2 billion, a figure practically stable compared to the same quarter of 2025 (-0.2%), while the EBITDA stood at $2.1 billion, representing a decrease of 31.6% and a margin of 16.0%, 7.3 percentage points below that recorded a year earlier.
Rodolphe Saadé, chairman and CEO of the group, noted that "in an uncertain geopolitical context, the group has achieved solid performance in the first quarter of 2026, supported by the strength of our shipping activities and the diversification of our business model." Saadé added that the priority remains "to protect our people, manage risks with discipline, and maintain the group's agility while we continue to grow."
In the maritime sector, transported volumes reached 5.9 million TEUs, 1.5% more than in the first quarter of 2025, driven by growing demand. However, maritime revenues fell by 8.5%, to $8 billion, as a result of the drop in average revenue per TEU, which stood at $1,351, a 9.8% year-on-year decrease. Maritime EBITDA was $1.5 billion, compared to $2.5 billion the previous year, with a margin that slipped 10.3 percentage points to 18.6%, reflecting lower freight rates despite the partial recovery of spot rates by the end of the quarter.
The group announced the launch of the product "DAY 10" within the OCEAN Alliance, with 41 services operated on major East-West trade routes and a total capacity of 5.3 million TEUs. New services were also initiated, such as the Ocean Rise Express, connecting Japan, southern China, and northern Europe, and the Eagle Express 1 was expanded between Japan and the west coast of the United States. In March, CMA CGM launched the PCRF XL service, a weekly connection between northern Europe, the French Antilles, and Central America, operated with seven vessels of 6,000 TEUs aimed at transshipping 300,000 containers annually by 2027 as part of the "Caribbean Hub" strategy. Additionally, in response to disruptions in the Strait of Hormuz, the group implemented alternative multimodal corridors to maintain supply chain continuity to and from Gulf countries.
The group's fleet continued its modernization process with the entry into service of the CMA CGM MONTE CRISTO, the group's 400th owned vessel and the first of a new series of container ships powered by methanol.
In the logistics segment, CEVA reported revenue growth of 6.6%, to $4.6 billion. However, EBITDA fell by 17.2%, to $330 million, with a margin of 7.2%, 2.1 points below the first quarter of 2025, due to pressure on freight management activities and persistent challenges in the automotive sector. Among highlighted operations, CEVA signed a global contract with HAECO for the management of aeronautical component flows and an agreement with Airbus Helicopters to operate a regional distribution center in Singapore. In Spain, CEVA made a €9 million investment in the Port of Tarragona, adding 94,000 square meters with the capacity to manage 4,500 vehicles. The logistics subsidiary also launched a transatlantic wind-powered shipping service within its FORPLANET offering.
In air cargo transportation, CMA CGM AIR CARGO operated with a fleet of eight aircraft under the brands CMA CGM AIR CARGO and Air Belgium, with strategic hubs in France, Belgium, and the United States.
Regarding the investment strategy, the group commissioned six LNG-powered container ships from the Indian shipyard Cochin Shipyard and established an R&D center with Capgemini to develop digital solutions and artificial intelligence. CMA CGM also plans to incorporate up to 1,500 Indian sailors before the end of 2026. On January 28, the company signed a strategic partnership with Stonepeak to create the joint venture United Ports LLC, which will group ten strategic terminals in North America, Europe, Latin America, and Asia, with an investment of $2.4 billion from Stonepeak in exchange for a 25% stake. The group also completed the acquisition of Freightliner UK, a leading freight rail operator in the UK, and CEVA acquired the Italian group Fagioli, specialized in project logistics and heavy cargo transportation.
Revenues from other activities grew by 59.1%, to $1.3 billion, with an EBITDA of $294 million and a margin of 22.9%, 3.7 points higher than a year earlier, thanks to the improved profitability in terminals, air freight, and the contribution of recently consolidated operations.
In the CMA Media division, the group announced a strategic partnership with YouTube for the distribution of over 1,000 hours of annual content, and BFMTV maintained its position as the leading news channel in France.
Looking ahead to the coming months, CMA CGM states that the escalation of tensions in the Middle East continues to affect navigation patterns and is a key factor in the evolution of market balance and operating costs, especially in a context of rising oil prices and changes in freight rates. The trade and tariff decisions of different countries also continue to influence the organization of global trade flows. The group relies on diversifying its activities, the flexibility of its network, and its financial strength to face this uncertain environment.