In the first trimester the Zim Israeli almost has halved the net loss



In the first trimester of this year the shipowning company Israeli Zim almost has halved the net loss that is come down to -63 million dollars regarding -112 million dollars in the first three months of 2013. The revenues are diminished of the -6% attesting itself to 867 million dollars regarding 918 million dollars recorded in the first quarterly one last year. The costs have totaled an emphasized decrease more coming down to 802 million dollars (- 10%). The EBITDA has been of positive sign for 29 million dollars respect to an EBITDA of sign negative for -6 million dollars in the first three months of 2013 and the operating result has been of sign negative for -8% respect to operating liabilities of -48 million dollars in the period January-March of 2013.

In the first three months of the 2014 fleet of portacontainer of the Zim he has transported cargo volumes pairs to 617 thousand teu (+2%) and the medium hire for teu has been pairs to 1.213 dollars (- 5%).

"With an important improvement of the budget and the structure of the costs - the managing director of the Zim has commented, Rafi Danieli - the company is ready to in the next few years obtain an sensitive improvement of the profit". Remembering that in recent days the shipowning society has concluded an agreement with the creditors on the plan of business restructure of the value of beyond three billions of dollars, of which 1,4 billion dollars of conversion of debit in capital, let alone an agreement with the Israeli Defense Ministry for a review of golden the share stopped from the State ( on 19 May 2014), Danieli has exhorted the competent ministers (Defended, Transports and Finances) to accelerate the procedure of definitive approval of the agreement being emphasized that it is essential so that Zim can have a future of success. Moreover the managing director has called also the dependent of the company to make their part: "the dependent of the Zim - it has explained - must assume their part of responsibility for the future of the company and join to the effort necessary in order to carry to term with success the restructure. Their collaboration - it has added - is essential in order to assure that the society can benefit of the restructure and continue as New Zim. We are sure that over the long term the new structure and the new strategy will give benefits to the dependent, and with the support of a force participant job the society is ready to realize in next a remarkable improvement of the profit".

In occasion of the presentation of the quarterly results the Zim among other things has complimented the president of the labor organization Histadrut in order to have accepted to lead the negotiations between the representatives of the dependent of the Zim and management of the company. Objective of management is to adapt to the contracts defined collectives when the Zim era of property of the State to the new economic truth and the requirements of the market.