CMA CGM Group lands USD 229 million deficit in 2019

French CMA CGM Group ended 2019 with a net deficit of USD 229 million and debts amounting close to USD 18 billion. The shipping group sees signs of post coronavirus market improvement in China.

Photo: PR / CMA CGM

CMA CGM Group landed a net deficit of USD 229 million according to the annual result from the company, published Friday.

The deficit can be attributed to above all the acquisition of logistics company Ceva and the new IFRS accounting standards imposed on companies last year.

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