The following release was published by ZIM:
Second Quarter 2025 Highlights
- Net income for the second quarter was $24 million (compared to $373 million in the second quarter of 2024), or diluted earnings per share of $0.194 (compared to $3.08 in the second quarter of 2024).
- Adjusted EBITDA for the second quarter was $472 million, a year-over-year decrease of 38%.
- Operating income (EBIT) for the second quarter was $149 million, compared to $468 million in the second quarter of 2024.
- Adjusted EBIT for the second quarter was $149 million, compared to $488 million in the second quarter of 2024.
- Revenues for the second quarter were $1.64 billion, a year-over-year decrease of 15%.
- Carried volume in the second quarter was 895 thousand TEUs, a year-over-year decrease of 6%.
- Average freight rate per TEU in the second quarter was $1,479, a year-over-year decrease of 12%.
- Net leverage ratio1 of 0.8x as of June 30, 2025, similar to net leverage ratio as of December 31, 2024; net debt1 of $3.03 billion as of June 30, 2025, compared to net debt of $2.88 billion as of December 31, 2024.
Eli Glickman, ZIM President & CEO, stated, "Amid market disruptions and volatility, we continued to leverage our upscaled capacity and improved cost structure in Q2. In this highly uncertain market environment, our focus is controlling what we can to position ZIM for sustainable and profitable growth over the long term."
Mr. Glickman added, "Our strength lies in the quality of our modern, competitive fleet and in our agile commercial strategy, which enables us to respond quickly to changes in demand across our global trade lanes. While we view our flexibility as critical in order to act dynamically, we also continue to seek attractive opportunities that will ensure our fleet remains cost effective moving forward. Overall, we are confident that our commitment to operational excellence, combined with the growing diversification in our geographic footprint, will drive even greater business resilience in the future."
Mr. Glickman concluded, "Given our performance to date, we have increased the midpoints of our 2025 guidance ranges. We now expect full year Adjusted EBITDA between $1.8 billion and $2.2 billion and Adjusted EBIT between $550 million and $950 million. We intend to draw on our transformed fleet and improved cost structure to continue to create long-term value for our shareholders even in the face of challenging and unpredictable market dynamics."
Financial and Operating Results for the Second Quarter Ended June 30, 2025 Total revenues were $1.64 billion for the second quarter of 2025, compared to $1.93 billion for the second quarter of 2024, mainly driven by the decrease in freight rates and carried volume.
ZIM carried 895 thousand TEUs in the second quarter of 2025, compared to 952 thousand TEUs in the second quarter of 2024. The average freight rate per TEU was $1,479 for the second quarter of 2025, compared to $1,674 for the second quarter of 2024.
Operating income (EBIT) for the second quarter of 2025 was $149 million, compared to $468 million for the second quarter of 2024. The decrease was driven primarily by the above-mentioned decrease in revenues.
Net income for the second quarter of 2025 was $24 million, compared to $373 million for the second quarter of 2024, also mainly driven by the above-mentioned decrease in revenues.
Adjusted EBITDA for the second quarter of 2025 was $472 million, compared to $766 million for the second quarter of 2024. Adjusted EBIT was $149 million for the second quarter of 2025, compared to $488 million for the second quarter of 2024. Adjusted EBITDA and Adjusted EBIT margins for the second quarter of 2025 were 29% and 9%, respectively. This compares to 40% and 25% for the second quarter of 2024, respectively.
Net cash generated from operating activities was $441 million for the second quarter of 2025, compared to $777 million for the second quarter of 2024.
Source: ZIM