After delivering a loss in 2018, Finland-based Containerships plc, a subsidiary of the CMA CGM Group, expects an improvement in its results during 2019.
The company said its net sales are expected to grow and the EBITDA to improve compared to the previous year.
Containerships delivered a net loss of EUR 1.7 million in 2018, against a profit of EUR 0.2 million reported in the previous year. Net sales for the period grew to EUR 268 million from EUR 226.7 million reported a year earlier, but the operational result weakened.
Recorded EBITDA was EUR 13.3 million, down from EUR 15.2 million seen in 2017. The decrease was caused by increased bunker costs due to a rise in oil price in the world market.
In 2018, various geopolitical, economic and legislative events impacted the logistics market in Containerships’ area of operation. Nevertheless, there were no changes in the operating environment dramatically affecting the group’s activities or performance in 2018, according to the company.
Following final approvals received in October 2018, Containerships Plc became part of CMA CGM’s
operations in Europe and the Mediterranean.
CMA CGM announced in January 2019 that as from April, 2019, the Containerships and MacAndrews brands would unit under the name Containerships. By joining forces of these two intra-European multimodal transporters, the CMA CGM Group would create and develop an intra-European leading brand.