Sea of ​​Success: ZIM Profits in 2021: $ 4.65 Billion

ZIM reports fourth-quarter results and a net profit of $ 4.65 billion in all of 2021. The company continues to present some of the highest operating profitability rates in the industry.

Since ZIM's launch in New York about a year ago, $ 2.6 billion in dividends have been announced.

Walla!

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09/03/2022

Wednesday, 09 March 2022, 15:05 Updated: 15:24

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The fact that Zim has become one of the success stories in the world economy, we have almost become accustomed to.

However, the report published today by the company managed to amaze even those in the details.

ZIM Integrated Shipping Services (NYSE: ZIM), a global shipping and shipping company, today announced its business results, on a consolidated basis, for the fourth quarter of 2021 and for 2021 as a whole.

• Net income for the fourth quarter amounted to $ 1.71 billion (compared to $ 366 million in the same period last year), an increase of 366%, or diluted earnings per share of $ 14.17;

Net income for 2021 was $ 4.65 billion (compared to $ 524 million in 2020), an increase of 787%, or diluted earnings per share of $ 39.02.

•

Totaled $ 2.36 billion, an increase of 345% from the same period last year;

Adjusted EBITDA for 2021 amounted to $ 6.60 billion, an increase of 537% from the previous year.

• Operating profit (EBIT) in the fourth quarter amounted to $ 2.12 billion, an increase of 382% from the same period last year;

Operating profit (EBIT) in 2021 totaled $ 5.82 billion, an increase of 706% from the same period last year.

The adjustments between operating profit (EBIT) and adjusted EBIT in the fourth quarter and for 2021 as a whole were negligible.

• Revenue turnover in the fourth quarter amounted to $ 3.47 billion, an increase of 155% from the same period last year;

Revenue turnover in 2021 totaled $ 10.73 billion, an increase of 169% from the previous year.

• ZIM led 858,000 containers (TEU) in the fourth quarter, an increase of 7% from the same period last year.

In 2021, ZIM led 3,481,000 containers (TEU), an increase of 23% from the previous year, significantly higher than the industry average.

• The average transportation price per container (TEU) in the fourth quarter was $ 3,630, an increase of 139% from the same period last year.

The average transport price per container (TEU) in 2021 was $ 2,786, an increase of 127% from the previous year.

• Net leverage ratio of 0.0x as of December 31, 2021, compared to 1.2x as of December 31, 2020;

Net cash and net investments 4 as of December 31, 2021 amounted to $ 509 million

• The company announced a dividend distribution of approximately $ 2.4 billion, or $ 17.00 per share, an amount representing 50% of net income for 2021 on a cumulative basis ( Including a quarterly interim distribution that has already been made at the expense of third quarter results for 2021).

The dividend will be paid on April 4, 2022 to the Company's shareholders on March 23, 2022.

• During 2021 and after the end of the year, the company entered into a number of agreements for the lease of 36 new ships, 28 of which are "green", gas-powered (LNG) ships.

The ships are expected to be delivered to ZIM during the years 2023 and 2024.

• At the end of the year, the company announced the extension and update of the operational cooperation agreement with the 2M alliance companies

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It is hard to believe that the company was issued in New York only at the beginning of 2021. It has since distributed dividends of $ 2.6 billion (Photo: Anthony Gussenhoven)

"Promoting the Highest Standards of Corporate Governance and Corporate Responsibility"

Yair Seroussi, Chairman of the Board, said: “2021 has been a year of profound change for ZIM.

We opened the year with the company's IPO in New York, the world's leading capital market, and we have not looked back since.

The many achievements of the past year, and our impressive financial and operational performance, are a direct result of the unparalleled capabilities, dedication and performance of our management team and our employees around the world, with the support of the Company's Board of Directors.

In 2021 we have taken important steps to strengthen the company to enable stable long-term growth and carry value for our shareholders.

We continue to focus on achieving strong performance and maintaining flexibility in 2022 and beyond, while promoting the highest standards of corporate governance and corporate responsibility. "

Eli Glickman, President and CEO of ZIM. Continues to be amazing from quarter to quarter (Photo: Itai Rapaport, Private News Company)

"Outstanding results at a historical level"

Eli Glickman, President and CEO of ZIM

, said: “In its first year as the only global shipping company listed on the New York Stock Exchange, ZIM has achieved exceptional results on a historic level and has lived up to the promises made during the IPO.

Zim's flexibility and the proactive strategies we have adopted have allowed us to maximize shareholder value during a peaceful period with unique and unprecedented challenges.

After another quarter of outstanding financial performance, we report record results for 2021 in revenue, adjusted EBITDA, net income and cash flow from operating activities, while continuing to show industry-leading profit margins.

We ended the year with cash balances and investments that exceed our total debt and while demonstrating solid financial flexibility. "

Glickman added, "We took advantage of the significant amount of cash we generated in 2021, to invest resources in supporting our customers in a way that is consistent with our ambition to provide the best service in the industry. We have greatly expanded our operating fleet and launched 17 new trading lines since June 2020, so that the increase in the volume of cargo that Zim led in

2021

compared to 2020 was three times higher than the growth in the industry.

$ 19.50 per share, reflecting 50% of our net profit for 2021. In total, including the special dividend we paid in September 2021, ZIM will pay a dividend of $ 2.6 billion or $ 21.50 per share in its first year as a public company, an amount that reflects about 30% of current market value Of the company and, in an extraordinary way, about 50% more than the market value of the company at the time of its issuance. "

Glickman concluded, "Today, ZIM is more commercially and operationally strong than ever, so we have never been more optimistic about the company's future. We are excited and look forward to continuing the excellent momentum of 2021 in 2022 and beyond. We take the opportunity to be at the forefront of reducing carbon emissions Global shipping, with 28 natural gas-powered "green" ships expected to be delivered to the company in 2023 and 2024, which may account for 40% of our operational transport

capacity. Without having to replace the existing fleet, in parallel with our Corporate Responsibility (ESG) goals, we continue to invest in groundbreaking digital and technological initiatives and strengthen the company's commercial operations, with the aim of driving long-term profitable growth, while continuing to allocate capital to all stakeholders. In society. "

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