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CMA CGM embarks on second phase of Ceva turnaround

The second part of the turnaround initiated by CMA CGM for its Ceva Logistics acquisition has begun. Much of the loan has been paid off, but Ceva still burdens the group's debt.

Photo: PR / Ceva Logistics

The second phase of the turnaround plan aimed at turning logistics acquisition Ceva into a profitable part of CMA CGM has now been launched in earnest, reveals the CMA CGM group's 2019 annual report, which also quantifies Ceva's first year as part of the French shipping group.

In 2019, Ceva contributed USD 7.1 billion to the group's revenue, which landed at USD 30.3 billion for the year as a whole. According to the annual report, Ceva is thus the primary reason for the 29-percent increase in revenue that the group saw last year.

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