ZIM Integrated Shipping Services reported lower financial results for both the fourth quarter and full year of 2025 compared with 2024, reflecting lower freight rates and slightly reduced carried volumes.
For the fourth quarter of 2025, total revenue reached US$1.48 billion, compared with US$2.17 billion in the fourth quarter of 2024. The company carried 898,000 TEUs during the quarter, down from 982,000 TEUs in the same period of the previous year. The average freight rate per TEU declined to US$1,333 from US$1,886.
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Operating income (EBIT) for the fourth quarter was US$143 million, compared with US$658 million in the fourth quarter of 2024. Net income for the quarter was US$38 million, down from US$563 million in the same quarter of the previous year.
Adjusted EBITDA for the quarter totaled US$327 million, compared with US$967 million in the fourth quarter of 2024. Adjusted EBIT was US$13 million, compared with US$658 million in the previous year's fourth quarter. Net cash generated from operating activities during the quarter was US$375 million, compared with US$1.15 billion in the same period of 2024.
For the full year 2025, total revenues reached US$6.90 billion, compared with US$8.43 billion in 2024. ZIM carried 3.66 million TEUs during the year, compared with 3.75 million TEUs in 2024. The average freight rate per TEU declined to US$1,551 from US$1,888.
Operating income for the year totaled US$1.02 billion, compared with US$2.53 billion in 2024. Net income for the full year was US$481 million, compared with US$2.15 billion in 2024.
Adjusted EBITDA for 2025 was US$2.17 billion, compared with US$3.69 billion in 2024. Adjusted EBIT totaled US$885 million, compared with US$2.55 billion the previous year. Net cash generated from operating activities reached US$2.3 billion for the year, compared with US$3.75 billion in 2024.
Net debt stood at US$2.92 billion at the end of 2025, compared with US$2.88 billion at the end of 2024. The company's net leverage ratio was 1.3x, compared with 0.8x a year earlier.
ZIM President and CEO Eli Glickman said the company expects continued pressure on freight rates in 2026. The company plans to maintain fleet capacity through charter agreements signed between the fourth quarter of 2024 and the fourth quarter of 2025, covering 36 new containerships with a total capacity of about 250,000 TEUs. Deliveries are expected to begin in the second half of 2026.
The proposed merger with Hapag-Lloyd remains subject to regulatory approvals.
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© ZIMFor more information:
ZIM Integrated Shipping Services
Tel: +972 8 865 2300
Email: [email protected]
www.investors.zim.com
