Israeli container carrier ZIM has announced total revenues of US$7.15 billion for the first half of 2022, increased by approximately US$3 billion from revenues in the first half of the last year. The main reason for this significant growth is the high container freight rates. ZIM also reported first half operating income (earnings before interest and taxes, EBIT) of US$4.01 billion, compared to US$1.84 billion for the first six months of 2021.
Additionally, the company almost doubled its net income for the same period, reaching US$3.05 billion.
ZIM president & CEO, Eli Glickman: "We reported strong Q2 results, including net profit of US$1.34 billion, as well as our best ever first half-year results with standout margins, among the highest of our liner peers. During this period, we maintained our strong execution, agility and commitment to profitable growth as we continue to advance ZIM’s position as an innovative digital leader of seaborne transportation. Due to our conviction in ZIM’s ability to earn sustainable long-term profits, we are increasing our quarterly dividend payout from 20% to 30% of quarterly net income, allowing shareholders to benefit from our strong results even more directly on a quarterly basis. Importantly, at the same time, we maintain our dividend policy, according to which shareholders may receive up to 50% of annual earnings."
Source: container-news.com