Zim Integrated Shipping Services posted it highest-ever quarterly net income of $888 million in the second quarter (compared to $25 million in Q2 2020), the line announced yesterday.
And a breakdown of the figures is astounding.
Adjusted Ebitda was $1.34 billion, compared to $145 million in 2020, a year-over-year (y-o-y) increase of 820%.
Operating income (Ebit) amounted to $1.16 billion, compared to $69 million last year, a y-o-y increase of 1 581%.
Adjusted Ebit for the second quarter was $1.16 billion, compared to $73 million in 2020, a y-o-y increase of 1 495%.
Revenues, meanwhile, recorded a y-o-y increase of 200%, amounting to $2.38 billion, compared to $795 million in 2020,
The line carried 921 000 TEUs, 44% more than the same period last year, while the average freight rate – at $2 341 – was 119% higher than Q2 2020.
"Consistent with our commitment to unlock significant value, we continue to prudently allocate capital for future growth, debt repayment and return of capital to shareholders,” said Eli Glickman, ZIM president and CEO, “specifically our investment in new containers and two strategic agreements for the long-term charter of LNG dual-fuel container vessels to promote our ESG values.”
