ZIM has reported its third-quarter 2025 financial results, with earnings and revenues lower year-on-year due to reduced freight rates and softer carried volumes.
Net income for the quarter was US$123 million, compared to US$1.126 billion in the same period of 2024. Diluted earnings per share were US$1.024, down from US$9.34 a year earlier. Operating income (EBIT) totaled US$259 million, compared with US$1.235 billion in Q3 2024. Revenues declined 36 per cent to US$1.78 billion.
Carried volume in Q3 was 926,000 TEUs, a 5 per cent decrease from last year. The average freight rate fell 35 per cent to US$1,602 per TEU. Adjusted EBITDA declined 61 per cent to US$593 million, while adjusted EBIT was US$260 million, compared with US$1.236 billion in Q3 2024. Net cash from operating activities was US$628 million, down from US$1.498 billion in the prior-year quarter.
© ZIM
ZIM President and CEO Eli Glickman said the company continued to adjust fleet deployment in response to rate volatility and geopolitical pressures. He noted that ZIM has diversified its network and updated guidance for 2025. The company declared a dividend of US$0.31 per share, totaling US$37 million, representing 30 per cent of its quarterly net income under its dividend policy.
For the first nine months of 2025, revenues totaled US$5.42 billion, compared to US$6.26 billion in the same period of 2024. Carried volume was broadly stable at 2.765 million TEUs. The average freight rate for the nine months declined to US$1,622 per TEU from US$1,889 in 2024.
EBIT for the nine months was US$873 million, down from US$1.87 billion. Net income was US$443 million, compared with US$1.591 billion in 2024. Adjusted EBITDA was US$1.84 billion, versus US$2.72 billion last year. Net cash generated from operating activities was US$1.92 billion, compared with US$2.60 billion a year earlier.
ZIM reported a total cash position of US$3.01 billion as of September 30, 2025, compared with US$3.14 billion at the end of 2024. Net debt declined to US$2.64 billion from US$2.88 billion. Capital expenditures reached US$67 million for Q3 2025.
Updated full-year guidance now forecasts adjusted EBITDA of US$2.0 to US$2.2 billion and adjusted EBIT of US$700 to US$900 million. Previous guidance projected adjusted EBITDA of US$1.8 to US$2.2 billion and adjusted EBIT of US$550 to US$950 million.
ZIM will hold a conference call and webcast to review the results and provide an update. A replay will be available on the company's website.
To view the full report, click here.
For more information:
Elana Holzman
ZIM Integrated Shipping Services
Tel: +972 4 865 2300
Email: [email protected]
www.investors.zim.com
