ZIM Integrated Shipping Services A global shipping and shipping company, today announced its business results, on a consolidated basis, for the fourth quarter of 2020 and for the entire year 2020.
Net income for the fourth quarter of 2020 was $ 366.4 million, compared to $ 1.2 million in the same period last year. Revenue was $ 1.36 billion in the fourth quarter of 2020, compared to $ 827.3 million in the same period last year. The increase is mainly attributed to an increase in revenues from the transportation of containerized cargo, which reflects an increase in both transportation rates and the volume of cargo transported.
In the fourth quarter of 2020, ZIM led 799,000 containers (TEU), Compared to 698 thousand containers (TEUIn the corresponding period last year. Average transport price per container (TEU) Stood at $ 1,518 in the fourth quarter of 2020, compared to $ 1,017 in the same period last year.
Operating profit (EBIT) In the fourth quarter of 2020 amounted to $ 439.4 million, compared to $ 44.6 million in the corresponding period last year. God-EBITDA Adjusted was $ 531.3 million in the fourth quarter of 2020, compared to $ 115.4 million in the same period last year. God-EBIT Adjusted was $ 439.2 million in the fourth quarter of 2020, compared to $ 47.4 million in the same period last year. The intervalsEBITDA Coordinated andEBIT Adjusted in the fourth quarter of 2020 stood at 39% and 32%, respectively, compared to 14% and 6% in the corresponding period last year. Net cash from operating activities totaled $ 414.4 million in the fourth quarter of 2020, compared to $ 89.3 million in the same period last year.
Main results of operations and financial situation in 2020
Net income for the whole of 2020 amounted to $ 524.2 million, compared to a loss of $ 13 million in 2019. Revenue amounted to $ 3.99 billion in 2020, compared to $ 3.30 billion in 2019. The increase is mainly attributable to an increase in revenue from containerized cargo, which mainly reflects Rise in freight rates.
Operating profit (EBIT) For the whole of 2020 stood at $ 772 million, compared to $ 153 million in 2019.
In 2020, ZIM transported 2,841,000 containers (TEU), Compared to 2,821 thousand containers (TEU) In 2019. The average transport price per container (TEU) Stood at $ 1,229 in 2020, compared to $ 1,009 in 2019.
God-EBITDA Adjusted was $ 1.04 billion in 2020, compared to $ 385.9 million in 2019. TheEBIT Adjusted was $ 728.6 million in 2020, compared to $ 148.9 million in 2019.EBITDA Coordinated andEBIT Adjusted for 2020 stood at 26% and 18%, respectively, compared to 12% and 5% in 2019.
In 2021, the company expects EBITDA Coordinated between $ 1.40 billion and $ 1.60 billion, andEBIT Coordinated in the amount of between $ 850 million and $ 1.05 billion.
At the end of the year, the company completed an initial public offering, raising a net consideration of $ 204 million. At the end of the year, the company announced a strategic agreement with the company Seaspan For long-term lease of 10 “green” ships powered by natural gas. This agreement illustrates Zim’s commitment to reducing the company’s carbon footprint, and to leading the implementation of environmentally friendly practices in the shipping industry.
Zim’s Chairman, Mr. Yair Seroussi, said: “Zim’s first public offering this year was the culmination of many months of hard and dedicated work by Zim’s management and employees, in collaboration with the company’s board of directors, and it marks the success of the company’s renewal. the last years. We are proud of the results of the activities we are publishing today for the first time as a public company, and believe that they are proof of Zim’s exceptional human capital. Moreover, these capabilities will continue to drive ZIM’s growth and success in the future. ‘
ZIM CEO, Mr. Eli Glickman, said: “The results that break our records in 2020 and the significant milestones we achieved in 2020 to date, reflect the momentum of activity at ZIM. During a global epidemic, we broke our net profit records throughout the company’s 75 years of operation. This record breaking highlights the benefits of our differentiated strategy and our active approach in dealing with the corona crisis. We ended the year with strong data, while achieving EBIT and-EBITDA At the top end of our forecast range, and we continued to show the highest spreads in the industry. ZIM is committed to a goal of consistent performance as one of the top three shipping companies in terms of margin EBIT“.
Glickman added, “We opened 2021 as the first global shipping and shipping company to be listed on the New York Stock Exchange. This achievement highlights our success in creating a leading container shipping company, with a business model asset-light, Which is at the forefront of digital innovation. Following our initial public offering, we also announced a strategic long-term lease agreement for 10 natural gas-powered vessels with a carrying capacity of 15,000 containers (TEU). This agreement puts ZIM in a position to meet the growing demand for Pacific trade (Asia on the East Coast of the United States), and to establish our leading position in tackling environmental and sustainability issues. “
Glickman concluded, “Betzim is now blowing a new, energetic and fresh spirit, and it is equipped with new capabilities and has a promising horizon for activity in the new reality of the shipping world. Thanks to the company’s professional and dedicated staff, and combining our commitment to leverage technology and digital for our benefit, ZIM is well positioned to enable the enhanced customer experience, leverage positive industry basics, and deliver long-term profit. In 2021, according to the forecast we published, we expect a continued positive trend, and a continued significant increase inEBITDA Coordinated and inEBIT Coordinated while maintaining margins from industry leaders. In addition, we intend to continue to harness theDNA The entrepreneur of our start-up nation, based on innovation and technological collaborations, in order to continue to develop growth engines that will generate additional revenue streams for the company beyond Zim’s traditional shipping activities. “