Zim today published its business results, on a consolidated basis, for the third quarter and the first nine months of 2022.
Main highlights for the third quarter of 2022: the net profit in the third quarter amounted to 1.17 billion dollars (compared to 1.46 billion dollars in the corresponding period last year), theEBITDA Adjusted in the third quarter amounted to 1.93 billion dollars, a decrease of 7% from the corresponding period last year. operating profit (EBIT) in the third quarter amounted to 1.54 billion dollars, a decrease of 17% from the corresponding period last year. Revenue turnover in the third quarter amounted to $3.23 billion, an increase of 3% from the corresponding period last year.
Zim transported 842 thousand containers not In the third quarter, a decrease of 5% from the corresponding period last year during which the company led 884 thousand not. The average freight price per container in the third quarter was $3,353, a 4% increase from the same period last year.
Eli Glickman, President and CEO of Zim said: “The results of our third quarter and first nine months of 2022 reflect excellent performance and very high profitability. While market conditions remained volatile, we made gains EBIT and- EBITDA are high, and we recorded a net profit of 1.17 billion dollars in the third quarter. In view of our significant cash flow, and in accordance with the priority we attach to returning value to our investors, this year we declared dividends in the amount of more than 1.26 billion dollars, including a dividend of approximately 354 million dollars for the third quarter.’
Glickman added, ‘Due to geopolitical and macroeconomic uncertainty, the short-term outlook for the shipping industry has changed, and the normalization of freight rates has begun. Based on our current market expectations, we now anticipate that theEBITDA The adjusted for 2022 will be between 7.4 and 7.7 billion dollars, and theEBIT The adjusted between 6.0 and 6.3 billion dollars, and let’s remember that both are a record in annual terms.’
“The proactive steps we have taken in the past two years have changed ZIM and, together with our strong balance sheet, have significantly improved our durability, both commercially and operationally, in order to position the company in the best possible way during the ‘new normal’ period in shipping. While we remain committed to the global niche strategy (global-niche) our focus on attractive trade routes, we have opened a large number of new routes during this period, improving our port coverage to better serve our customers and to make our commercial presence more sustainable and diversified. In addition, we have identified complementary growth engines for our container transportation activities, such as vehicle transportation activities and digital shipping services, through our subsidiary. We have also ensured the availability of new, competitive and efficient ships to support our commercial strategy and advance the agenda ofESG Ours and our customers’.