Tuesday, June 24, 2025
Home News ZIM bounces back to profit after 2023 losses

ZIM bounces back to profit after 2023 losses

Israel-based container carrier ZIM reported total revenues of US$8.43 billion for the full year of 2024, compared to US$5.16 billion for the full year of 2023, driven primarily by an increase in freight rates and box volumes.

ZIM carried 3.75 million TEUs in 2024, compared to 3.28 million TEUs in the previous year. At the same time, the average freight rate per TEU was US$1,888, compared to US$1,203 in 2023.

The company’s operating income (EBIT) reached US$2.53 billion, while net income climbed to US$2.15 billion, compared to net loss of US$2.69 billion for the full year of 2023, driven mainly by the above-mentioned increase in revenues and the impairment charge recognized in 2023.

Additionally, ZIM recorded adjusted EBITDA of US$3.69 and adjusted EBIT of US$2.55 billion for 2024. Adjusted EBITDA and adjusted EBIT margin were 44% and 30%, respectively, while net cash generated from operating activities was US$3.75 billion.

“We are pleased and proud with the Company’s outstanding performance in 2024, during which we delivered record carried volume as well as exceptional profitability,” stated Eli Glickman, ZIM President & CEO.

Glickman commented: “Based on our continued progress upscaling our capacity and optimizing our cost structure, we reported our best results ever, excluding the extraordinary COVID period. Consistent with our commitment to returning capital to shareholders, the dividend declared today, together with the dividends distributed during 2024, total US$7.98 per share, or US$961 million, representing approximately 45% of our full year net income.”

Glickman went on to add that ZIM enters 2025 with a “more resilient business and modern cost- and fuel-efficient capacity”, 40% of which is LNG-fueled.

ZIM’s boss concluded: “Our 2025 outlook of adjusted EBITDA between US$1.6 billion and US$2.2 billion and adjusted EBIT between US$350 million and US$950 million assumes trade conditions in the Red Sea will not normalize until the second half of the year at the earliest.”





Antonis Karamalegkos
Managing Editor

Latest Posts

Maritime Geopolitics is now the market

In the once-quiet engine room of globalization maritime logistics a silent revolution is underway. According to maritime strategist Punit Oza, advances in port productivity have...

Cavotec unveils flexible shore power solution

Cavotec has launched PowerAlign, a new modular and mobile shore power solution purpose-built for container terminals. The unveiling took place at TOC Europe 2025 in...

Latvia and Germany strengthen maritime innovation ties

Public and private sector partners from Latvia and Germany have signed a Memorandum of Understandin in Hamburg this week to boost cooperation in digital...

Kota Oasis makes inaugural call at Lomé

PIL has announced that its latest “O”-Class vessel, Kota Oasis, made its inaugural call at the Port of Lomé, Togo. Following a successful first stop...

MSC reaches capacity milestone further cementing its position

MSC has crossed a significant milestone, with its total container fleet capacity exceeding 6.6 million TEUs, securing a commanding 20.5% share of the global...
error: Content is protected !!