How the family business became a profit champion

Marseilles The Tour CMA CGM glitters in the Marseille sunlight. The 147 meter high office tower made of glass and concrete, designed by star architect Zaha Hadid, towers over the Mediterranean metropolis. The shipping company CMA CGM, which was recently more profitable than any other company in France, is based in the building.

Last year, the family company made a net profit of almost $25 billion, more than the major bank BNP Paris, the luxury giant LVMH or the energy group Total. But unlike other heavyweights in the French economy, the world’s third largest container shipping company is rarely in the limelight.

The owner family Saadé, which started with a single ship four decades ago, is discreetly transforming the shipping company into a broadly positioned logistics group. CMA CGM is currently investing massively outside of its core business in port terminals, freight forwarders and air freight. But it should be over with the fable wins for the time being.