Zim has generated the highest net income in its 75-year history during the last year despite the outbreak of the pandemic, according to Eli Glickman, the company’s president and CEO, who stated that the all-time records and the milestones that Zim reached in 2020 represent a “truly momentous time” for the carrier.
In particular, Zim’s full year net income of was US$524 million in 2020, compared to a loss of US$13 million in 2019, while adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) for the full year was US$1.04 billion, representing a year-over-year boost of 168%.
Additionally, the Israeli line marked total revenues of US$3.99 billion for the full year 2020, which translates to a 21% year-on-year growth, which has been mainly “driven by an increase in revenues from containerised cargo, reflecting mainly an increase in freight rates,” said Zim in its announcement.
At the same time, the company has also achieved a modest increase of 1% in its container volumes, carrying 2.84 million TEU in 2020 with an increased average freight rate per TEU of US$1,229.
Source : Container-News
