The company is once again reporting record data and a 16% increase in the volume of container shipments compared to the corresponding quarter last year, at a significantly higher rate than market growth. Significant improvement in the forecast for 2021: EBITDA Adjusted forecast of $ 6.2-6.4 billion
ZIM Integrated Shipping Services today announced its business results, on a consolidated basis, for the third quarter and the first nine months of 2021. Net income for the third quarter amounted to $ 1.46 billion. God-EBITDA Adjusted in the third quarter, it was $ 2.08 billion, compared to $ 262 million in the same quarter last year, an increase of 693%. Operating profit (EBIT) In the third quarter amounted to $ 1.86 billion, compared to $ 189 million in the corresponding quarter last year, an increase of 884%. Adjustments between operating profit (EBIT) And theEBIT Coordinated in the third quarter were negligible.
Revenue in the third quarter was $ 3.14 billion, compared to $ 1.01 billion in the same quarter last year, an increase of 210%.
Zim carried 884,000 containers (YOURS) In the third quarter of 2021, an increase of 16% from the corresponding quarter last year in which it transported 762,000 containers YOURS. Average transport price per container (YOURS) In the third quarter of 2021 stood at $ 3,226, compared to $ 1,176 in the corresponding quarter last year – an increase of 174%.
The company announced a transition to a policy of paying dividends on a quarterly basis at a rate of approximately 20% of the quarter’s net profit, with the fourth quarter dividend amounting, plus the quarterly dividends distributed, at 30-50% of the annual net profit. The Company announced the distribution of a cash dividend in the amount of approximately $ 296 million to be paid on December 27, 2021 to the Company’s shareholders.
The company announced a strategic agreement and exercise of an option, with a company Seaspan, For the long-term lease of 15 total number of “green” ships powered by natural gas, with a carrying capacity of 7,000 containers (YOURS). This agreement is another illustration of Zim’s commitment to reducing the company’s carbon footprint.
During the quarter and after the end of the quarter, the company purchased eight second-hand ships at a total cost of approximately $ 355 million.
Eli Glickman, President and CEO of ZIM, said: “We are very proud of ZIM’s significant achievements since our IPO earlier this year. The impressive results we continue to present are directly due to the professionalism of our team and our success in leveraging our attractive market conditions and our differentiating approach. Our exceptional third quarter results reflect revenue, EBITDA Coordinated, net profit and cash flow from the highest operating activities that Zim has ever introduced. It is important to note that we have once again achieved profit margins from the leaders in the industry, and better-than-average performance in the industry. “
Glickman added, “As we present quarterly record results, we are pleased to allocate additional capital to improve our commercial capabilities and maximize shareholder value. Along with our success in ensuring the volume of operational fleet and containers that will enable us to best serve our customers, we distributed a special $ 2.00 dividend per share in September 2021, and we are now moving to a quarterly dividend payment to provide shareholders with an immediate and more frequent return. In accordance with the new policy, an interim dividend of $ 2.50 per share will be paid in December 2021 compared to the third quarter, which constitutes approximately 20% of the quarterly net profit. Based on our expectation of a share of 50 50% of the 2021 net profit, we are prepared to return significant capital to shareholders in 2022. “
Glickman concluded, “Given Zim’s strong forecast and very favorable market conditions for the container transport market, we have again raised our profit forecast for 2021. As an innovative digital leader in maritime transport and logistics services, Zim is well prepared for the future. We continue to focus on the strategy ofglobal-niche In order to achieve long-term excess profitability, while maintaining maximum flexibility in our fleet, promoting the values ofESG (environmental, social & governance“While creating the best customer experience, and taking advantage of growth opportunities.”