ZIM is Back to Profit in Q4 2016

Photo: ​ZIM Integrated Shipping Services

By Aiswarya Lakshmi

?ZIM Integrated Shipping Services Ltd (ZIM)
generated a net profit of $4.6 million and adjusted EBITDA of
$43.9 million in Q4 2016, a significant improvement over Q3
2016.

ZIM carried 2.4 million TEUs in 2016, a 5.2% increase compared to
2015 ZIM continued to record improved results and outperform the
industry, through increased efficiency and cost reductions
achieved against a background of volatile and rapidly changing
market conditions.

ZIM reported an adjusted EBITDA of $43.9 million in Q4 2016, and
$46.7 million for the year ended December 31, 2016. ZIM recorded
adjusted EBITDA margins of 6.7% in Q4 2016, and 1.8% for the
whole of 2016.

ZIM recorded a 3.9% increase in containers carried in Q4 compared
to the same period last year, to 613 thousand TEUs and a 5.2%
increase to a total of 2.4 million TEUs in 2016, compared to
2015.

As a result of increased efficiencies and cost reductions, along
with other factors, the unit cost decreased in 2016 by 14%
compared to 2015.

Rafi Danieli, ZIM's President & CEO, said: "In spite of the
very challenging market conditions in 2016, our results continued
to improve, with a net profit in Q4 2016 and an increase in
carried TEUs. The results were achieved through a successful
efficiency plan and costs reductions implemented at all levels in
ZIM."

Mar 2, 2017

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