ZIM Integrated Shipping Services Ltd. (ZIM) has reported its consolidated results for the three and 12 months ended 31 December 2024.
ZIM’s net income for the fourth quarter came at $563 million (compared to a net loss of $147 million in the fourth quarter of 2023), or diluted earnings per share of $4.664 (compared to a diluted loss per share of $1.23 in the fourth quarter of 2023).
Operating income (EBIT) was $658 million, up from a $54 million operating loss in Q4 2023. Adjusted EBITDA for Q4 was $967 million.
Revenues for the same period stood at $2.17 billion.
READ: ZIM reports strong revenues with $1.56 billion in Q1
This was a 409 per cent rise over the previous year, while adjusted EBITDA for the entire year was $3.69 billion, a 252 per cent increase.
Operating income for 2024 totalled $2.53 billion, compared to a $2.51 billion operating loss in 2023. This was an 80 per cent year-on-year (YoY); total revenue was $8.43 billion, up 63 per cent YoY.
Carried volume in the fourth quarter was 982 million TEUs, a YoY increase of 25 per cent. The total carried volume for the year was 3.75 billion TEUs, representing a 14 per cent increase YoY.
READ: ZIM reports improved revenues of $1.93 billion in Q2 2024
Eli Glickman, ZIM President and CEO, said: “While acknowledging that our industry is highly volatile, exacerbated by current uncertainty related to geopolitics, international political dynamics and economic, fiscal and monetary policies, we are confident in our agile approach and competitive position in the industry.
“Our 2025 outlook of Adjusted EBITDA between $1.6 billion and $2.2 billion and Adjusted EBIT between $350 million and $950 million assumes trade conditions in the Red Sea will not normalise until the second half of the year at the earliest.”
In November 2024, ZIM reported its consolidated results for the three and nine months ended 30 September 2024.
