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Q2 2017 Results

Zim News - Wed, 08/30/2017 - 12:05
​Haifa, 30 August 2017   ZIM posted adjusted net profit of $12.5 million in Q2 2017,
compared to adjusted net loss of $64.0 million in Q2 2016
  Adjusted EBIT was $43.7 million in Q2 2017,
compared to negative $40.5 million in Q2 2016
  Adjusted EBITDA of $70.1 million in Q2 2017,
compared to negative EBITDA of $15.9 million in Q2 2016
  Operating cash flow was $88.9 million,
compared to $17.6 million in Q2 2016
  Total revenues were $745.7 million in Q2 2017,
compared to $611.9 million in Q2 2016, a 21.9% increase
  ZIM recorded an increase of 6.7% in containers carried compared
to Q2 2016 and a consistent improvement of adjusted EBIT margins

  ​
The shipping liner industry went through major developments and structural changes which include reshaping of the alliances and M&A activities that took place over the last quarters. Since Q3 2016 we have been witnessing a positive trend in the industry with improved freight rates in most trades, however, market conditions on the whole, remained challenging and volatile.   In the face of this tough business environment, ZIM continues to outperform the industry and achieve improved results. ZIM’s Q2 results reflect the constant improvement in the company’s performance, as a result of the comprehensive transformation the company has implemented in recent periods.   ZIM reported an adjusted EBITDA of $70.1 million in Q2 2017 compared to negative $15.9 million in Q2 2016, with an adjusted EBITDA margin of 9.4%. The carried quantities increased by 6.7% to 659 thousand TEUs in Q2 2017, compared to 617 thousand TEUs in the same period of 2016.

Eli Glickman, ZIM President & CEO,​ said: “ZIM’s positive results in Q2 demonstrate an ongoing, steady improvement in the company’s performance. We focus on achieving profitability through efficiency, innovation, and above all reliable and agile services to our customers. Our customer-centered approach is at the root of our strategy, and as an independent global niche carrier we can provide unique and flexible services to our customers. I’m confident that this approach will enable ZIM to prevail and achieve additional improvements in the coming years.
I would like to take this opportunity to thank my predecessor Rafi Danieli, for his invaluable contribution to ZIM over many years.”

  Financial and Operating Highlights for the Three Months Ended June 30, 2017  
  • Adjusted net profit was $12.5 million, compared to adjusted net loss of $64.0 million in Q2 2016
  • Net profit was $2.3 million, compared to net loss of $74.1 million in Q2 2016
  • Total revenues were $745.7 million, compared to $611.9 million in Q2 2016, a 21.9% increase
  • Operating cash flow was $88.9 million, compared to $17.6 million in Q2 2016
  • Adjusted EBITDA was $70.1 million compared to negative $15.9 million in Q2 2016
  • EBITDA was $62.8 million compared to negative $22.1 million in Q2 2016
  • Adjusted EBIT was $43.7 million, compared to negative $40.5 million in Q2 2016
  • EBIT was $36.4 million, compared to negative $47.8 million in Q2 2016
  • ZIM carried 659 thousand TEUs, compared to 617 thousand TEUs in Q2 2016, a 6.7% increase
  • The average freight rate per TEU was $1,007, compared to $866 in Q2 2016, a 16.3 % increase

  Financial and Operating Highlights for the Six Months Ended June 30, 2017  
  • Adjusted net profit was $15.1 million, compared to adjusted net loss of $110.8 million in H1 2016
  • Net loss was $4.1 million, compared to net loss of $130.4 million in H1 2016
  • Total revenues were $1,400.7 million, compared to $1,241.9 million in H1 2016, a 12.8% increase
  • Operating cash flow was $122.7 million, compared to $3.0 million in H1 2016
  • Adjusted EBITDA was $127.5 million compared to negative $7.7 million in H1 2016
  • EBITDA was $114.1 million, compared to negative $20.6 million in H1 2016
  • Adjusted EBIT was $74.4 million compared to negative $56.9 million in H1 2016
  • EBIT was $61.0 million, compared negative to $70.9 million in H1 2016
  • ZIM carried 1,257 thousand TEUs, compared to 1,194 thousand TEUs in H1 2016, a 5.2% increase
  • The average freight rate per TEU was $981, compared to $903 in H1 2016, a 8.6 % increase
    About ZIM: Since 1945, ZIM provides creative operational and logistical solutions to customers. Over the years ZIM has grown to become a leading force in the shipping industry, by pioneering innovative technologies and expanding its vast geographical network while maintaining its tradition of excellence.​​

Huricane Harvey

Zim News - Tue, 08/29/2017 - 09:07

Dear Valued Customer,

 

Hurricane Harvey continues to affect all our business activities, with many roadways covered with water and yet more rain to come.

 

Tuesday, August 29th, our Houston offices will be closed. 
We will keep updating you on a daily basis.

 

We send positive thoughts and prayers to the people of Texas facing Hurricane Harvey

 

Regards
George Goldman
President, ZIM USA

Huricane Harvey

Zim News - Tue, 08/29/2017 - 09:07

Dear Valued Customer,

 

Hurricane Harvey continues to affect all our business activities, with many roadways covered with water and yet more rain to come.

 

Tuesday, August 29th, our Houston offices will be closed. 
We will keep updating you on a daily basis.

 

We send positive thoughts and prayers to the people of Texas facing Hurricane Harvey

 

Regards
George Goldman
President, ZIM USA

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