Zim Reports Profitable 3rd Quarter

0
14

Zim reported the following 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.

Here are Zim’s 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.

Eli Glickman, ZIM President & CEO, said: “In spite of the challenging market conditions, ZIM continued to record improved results in Q3, as it did throughout 2019. While the challenges in the market endure, the advantages gained by our global strategic cooperation and our customer focus enable us to pursue our goals and strengthen our position. We provide ever better services and a wider portfolio to customers, while achieving cost efficiencies and maintaining the levels of cargo carried. 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.” 

LEAVE A REPLY

Please enter your comment!
Please enter your name here