CMA CGM will convert the loan to Brittany Ferries into a stake in the company
The news agency "France-Press" has announced that it is the intention of the CMA CGM to convert into shares of the Brittany Ferries the loan of 25 million euros that the group shipowner has disbursed to the shipping company to support it in the recovery of activities after the crisis caused by the Coronavirus pandemic ( of 14 September 2021). This would allow CMA CGM to obtain up to 12% of the capital of Brittany Ferries.
Brittany Ferries announced that in the exercise annual financial ended on 31 October its Fleet carried 1.84 million passengers, almost four times the volume of traffic handled in the previous year (545 thousand passengers) although still lower than -26% compared to the last year before the Covid-19 crisis. In the exercise Completed last October, moreover, the company's fleet has transported 168 thousand truck, volume that represents a decrease of -17% on the previous financial year and is significantly lower than the pre-Covid and pre-Brexit one.
From the financial point of view, the financial year ended last year October was archived with a net profit of 22.6 million of euros on a turnover of 444.7 million, more than double the turnover of 202.4 million in the previous year and lower only 22 million euros compared to the year 2018-2019 financial pre-Covid and Brexit.
