Israel-based container line ZIM Integrated Shipping Services has published its operating and financial results for the full year ending 31 December 2022.
ZIM reported a year-on-year decline of 3% in its container volumes, handling 3.38 million TEUs in 2022.
The Haifa-headquartered company noted that the average freight cost per TEU in 2022 was US$3,240, compared to US$2,786 in 2021, representing a 16% increase year-on-year.
This is the main reason that ZIM’s total revenues for the entire year 2022 were US$12.5 billion, up from US$10.7 billion in the previous year. Additionally, the ocean carrier’s operating income (Earnings Before Interest and Taxes, EBIT) was US$6.1 billion.
“Full-year operating income profited from higher freight rates, which were partly mitigated by higher fuel and vessel chartering costs,” commented a ZIM’s official.
Furthermore, ZIM reported a relatively steady total net income of US$4.6 billion in 2022, while the adjusted Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) of the company were US$7.5 billion.
“2022 was an exceptional year for ZIM, as we capitalised on both our differentiated strategy and the attractive market, driving record full-year Adjusted EBITDA and EBIT results. Returning cash to shareholders remains a priority for our company, and we are pleased to have drawn on our strong performance to declare a fourth-quarter dividend of approximately US$769 million, or US$6.40 per share. In total, we will be providing shareholders dividends of US$2.04 billion, representing approximately 44% of total 2022 net income,” stated Eli Glickman, president & CEO of ZIM.
