The following release was published by ZIM:
Generates Strong Full Year Results: Revenue of $12.56 Billion, Net Income of $4.63 Billion, Adjusted EBITDA of $7.54 Billion, and Adjusted EBIT of $6.15 Billion.
Full Year 2023 Guidance: Expect to Generate Adjusted EBITDA of $1.8-$2.2 Billion and Adjusted EBIT of $100-$500 Million.
Declared Q4 2022 Dividend of Approximately $769 Million, or $6.40 per Share, Representing, Together with Previous Distributions Made on Account of 2022, Approximately 44% of the Full Year 2022 Net Income
Fourth Quarter and Full Year 2022 Highlights
- Net income for the fourth quarter was $417 million (compared to $1.71 billion in the fourth quarter of 2021), or $3.44 per diluted share3 (compared to $14.17 in the fourth quarter of 2021); net income for the full year was $4.63 billion (compared to $4.65 billion for the full year of 2021)
- Adjusted EBITDA for the fourth quarter was $973 million, a year-over-year decrease of 59%; Adjusted EBITDA for the full year was $7.54 billion, a year-over-year increase of 14%
- Operating income (EBIT) for the fourth quarter was $585 million, a year-over-year decrease of 72%; operating income (EBIT) for the full year was $6.14 billion, a year-over-year increase of 5%. Reconciliation items between operating income and Adjusted EBIT in the fourth quarter and full year were minor
- Revenues for the fourth quarter were $2.19 billion, a year-over-year decrease of 37%; revenues for the full year were $12.56 billion, a year-over-year increase of 17%
- Carried volume in the fourth quarter was 823 thousand TEUs, a year-over-year decrease of 4%; carried volume in the full year was 3,380 thousand TEUs, a year-over-year decrease of 3%
- Average freight rate per TEU in the fourth quarter was $2,122, a year-over-year decrease of 42%; average freight rate per TEU in the full year was $3,240, a year-over-year increase of 16%
- Net leverage ratio1 of 0.0x at December 31, 2022, similar to December 31, 2021; reached positive net cash position of $279 million as of December 31, 2022
- Declared dividend of approximately $769 million, or $6.40 per share, representing, together with previous distributions made on account of 2022, approximately 44% of the full year 2022 net income
Source: ZIM