ZIM reports net profit of $1.7 billion

ZIM Reports USD 2.3 Billion Net Deficit in Q3

ZIM reported a record net profit of $1.7 billion for the first quarter of 2022, nearly triple a year ago, after freight rates averaged $3,838 per teu in the period, Alphaliner says.

The line simultaneously raised its full-year guidance to EBIT of $6.3-$6.7 billion, versus a forecast of $5.6-$6.0 billion in March, and a potential increase in 8%-15% in 2021, reports Alphaliner.

In addition to the elevated average teu rate, ZIM highlighted an increase in transported volumes which, at 859,000 teu, were up 5% from a year earlier and up slightly from the fourth quarter of 2021. To date, only one other carrier, Hapag-Lloyd, has confirmed an increase in surveys in the last quarter.

ZIM, which currently operates 137 vessels, painted a bullish picture for the rest of 2022, saying port congestion and supply chain disruption could extend into 2023, while US demand was expected to hold. solid. Although the balance between supply and demand is expected to converge in 2023, he believes this will be offset by continued disruption and pressure to decarbonize.

Overall, ZIM reported an operating profit of $2.2 billion (Q4: $2.1 billion) on revenue of $3.7 billion (Q4: $3.5 billion). An initial 7% drop in its share price was subsequently recovered after the announcement.

Source: Alphaliner

Leave A Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.