Independent journal on economy and transport policy
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SHIPPING
ZIM closes 2022 with record financial results, which deteriorated sharply in the last quarter
Last year revenues have grown of +17.1%, with a decrease of -36.9% in the period October-December
Haifa
March 13, 2023
The parable that graphically describes the financial results achieved in the last two years of the main companies of World containerized shipping is the same that View the performance trend in the Israeli period ZIM, which is the tenth largest carrier in this market for Fleet load capacity. For ZIM, as well as For other carriers, 2022 was marked by a initial continuation of the exceptional growth trend of Economic results started the previous year to which it is followed by a significant contraction in performance. To define the The layout of the parable was, almost exclusively, the change in the value of sea freight, with transport rates via sea that have started to drop drastically in the last quarter last year, a period that was very negative for ZIM when compared with the freight boom phase.
In the October-December quarter of 2022 the Israeli company recorded revenues of $2.19 billion, with a strong decrease of -36.9% on the same period of the previous year, decrease which has precisely followed the trend in the value of freight rates, which for ZIM is result be in the last quarter of 2022 equal to 2,122 dollars/teu, down by -41.5% and compared to a much more Reduced decrease in containerized cargo volumes transported from the fleet that turned out pairs to 823 thousand teu (- 4.1%), of which 291 thousand teu on the transpacific routes (- 4.0%), 115 thousand on those Asia-Europe (+36.9%), 108 thousand teu on the routes Transatlantic (- 33.7%), 250 thousand teu on intra-Asian ones (- 0.4%) and 59 thousand teu on routes with Latin America (+3.5%).
In the fourth quarter of 2022, EBITDA was State of 973,0 million dollars (- 58.9%), the operating profit of 584,7 million (- 72.4%) and profit clearly of 416,5 million dollars (-75,6%).
In the full year 2022, revenues amounted to record value of 12,6 billion dollars, with a rise of +17.1% on the previous year generated essentially by the increase of +16.3% of the average freight value which was $3,240 For TEU containers transported by the Company's ships. Values records were also set by EBITDA and EBIT, which were results of over 7.5 billion (+14.3%) and 6.1 billion respectively billion dollars (+5.5%). Net profit amounted to 4.6 billion dollars (-0.4%).
Last year, the ZIM fleet transported cargoes containerized pairs to total 3,38 million teu (- 2.9%), of Cui 1,16 million teu transported by transpacific services (- 15.7%), 428 thousand teu from services Asia-Europe (+24.1%), 496 thousand teu from transatlantic services (- 19.9%), 1,06 million teu from services intra-Asian (+12.7%) and 238 thousand teu from those with Latin America (+17,8%).
The president and CEO of the company, Eli Glickman, announced that ZIM plans to close the exercise 2023 annual with Adjusted EBITDA of 1.8 to 2.2 billion dollars and with an Adjusted EBIT between 100 and 500 million dollars.
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