ZIM Integrated Shipping Services Ltd. (NYSE: ZIM), a global container liner shipping company, announced today its consolidated results for the three and six months ended June 30, 2022.
Second Quarter 2022 Highlights: Net income for the second quarter was $1.34 billion (compared to $888 million in the second quarter of 2021), a year-over-year increase of 50%, or $11.07 per diluted share (compared to $7.38 in the second quarter of 2021); Adjusted EBITDA for the second quarter was $2.10 billion, a year-over-year increase of 57%; Operating income (EBIT) for the second quarter was $1.76 billion, a year-over-year increase of 52%; Revenues for the second quarter were $3.43 billion, a year-over-year increase of 44%; Carried volume in the second quarter was 856 thousand TEUs, a year-over-year decrease of 7%; Average freight rate per TEU in second quarter was $3,596, a year-over-year increase of 54%; Net leverage1 ratio of 0.1x at June 30, 2022, compared to 0.0x at December 31, 2021; Declared dividend of approximately $571 million, or $4.75 per share, representing approximately 30% of second quarter net income and a 10% onetime catch-up from the Q1 2022 net income
Source: freightweek.org
Sign up to the XL Anchor monthly newsletter to be the first to receive exclusive content and industry news.
