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27 November 2020 The on-line newspaper devoted to the world of transports 11:34 GMT+1



November 18, 2020

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ZIM posts quarterly increase of +20.3% in revenues thanks to the growth of transported goods and freight

Record results for Israeli shipping company

In the third quarter of 2020, the company's revenues israeli navigation ZIM increased by +20.3% amounted to $1.01 billion compared to $842 million of dollars in the period July-September last year. The significant growth was generated by the increase, the first after six consecutive quarters of decline, the volumes of loads containerized transported by the company's fleet that are amounted to 762,000 teu (+5.1%), but above all from the significant increase in of the average rental per container transported which amounted to $1,176/teu (+16.6%).

The substantial increase in turnover is a slight increase of +1.9% in operating expenses at 717 millions of dollars. The values of EBITDA, operating profit and net profit recorded levels never reached in priority, having been equal to 263 million dollars (+131.1%), $189 million (+313.7%) and 144 million dollars (+2,828.4%).

In the first nine months of 2020, revenues amounted to 2.63 billion dollars, up +6.4% over the same period last year. Operating expenses totalled 2.04 billion (-4.1%), EBITDA 503 million (+77.4%), operating profit 283 million million (+160.5%) and net profit of $158 million compared to a net loss of -$14 million in the period January-September 2019.

In the first nine months of this year, the container fleet zim carried 2.04 million teu (-3.5%) and the average rental per container transported was $1,116/teu (+10.8%).




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