ZIM Posts Profit in Third Quarter

ZIM-containership

ZIM has reported a net profit of USD 5 million for the third quarter of 2019, after returning to black in the second quarter of the year.

ZIM achieved the net profit on the back of USD 842 million of revenues in the three-month period that ended September 30.

“In spite of the challenging market conditions, ZIM continued to record improved results in Q3, as it did throughout 2019,” Eli Glickman, ZIM President & CEO, said.

“Our ongoing efforts in the spheres of customer experience and digitalization also bear fruits, as we continue to focus on our customers’ needs and push for commercial excellence in all fields.”

Financial and Operating Highlights for the Three Months Ended September 30, 2019

Total revenues were $842.0 million compared to $840.7 million in Q3 2018, a 0.2% increase
ZIM carried 725 thousand TEUs compared to 730 thousand TEUs in Q3 2018, a 0.7% decrease
The average freight rate per TEU was $1,009 compared to $1,006 in Q3 2018, a 0.3% increase
Adjusted EBITDA was $106.8 million compared to $49.8 million in Q3 2018
EBITDA was $115.0 million compared to $45.2 million in Q3 2018
Adjusted EBIT was $40.8 million compared to $21.7 million in Q3 2018
EBIT was $45.6 million compared to $17.1 million in Q3 2018
Adjusted net profit was $3.7 million compared to $1.4 million in Q3 2018
Net profit was $5.0 million compared to net loss of $6.6 million in Q3 2018
Operating cash flow was $157.5 million compared to $54.1 million in Q3 2018

Financial and Operating Highlights for the Nine Months Ended September 30, 2019

Total revenues were $2,472.5 million compared to $2,395.3 million in 1-9 2018, a 3.2% increase
ZIM carried 2,124 thousand TEUs compared to 2,200 thousand TEUs in 1-9 2018, a 3.5% decrease
The average freight rate per TEU was $1,007 compared to $950 in 1-9 2018, a 6.0% increase
Adjusted EBITDA was $270.5 million compared to $101.7 million in 1-9 2018
EBITDA was $285.0 million compared to $82.7 million in 1-9 2018
Adjusted EBIT was $101.5 million compared to $18.4 million in 1-9 2018
EBIT was $108.4 million compared to negative EBIT of $0.6 million in 1-9 2018
Adjusted net loss was $10.8 million compared to adjusted net loss of $45.3 million in 1-9 2018
Net loss was $14.2 million compared to net loss of $73.9 million in 1-9 2018
Operating cash flow was $281.3 million compared to $164.6 million in 1-9 2018

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