#ZIM Integrated Shipping Services Ltd. Q3 FY24 #EarningsReport Summary | $ZIM (-0.98%)

In Q3 2024, ZIM achieved record results, driven by higher freight rates, increased carried volume, and operational excellence. The company also revised its full-year guidance upward, reflecting a strong outlook for the shipping industry.

📊 Income Statement Highlights (vs Q3 2023):

▫️ Net Income: $1.13B (vs -$2.27B)

▫️ Total Revenue: $2.77B (vs $1.27B, +117%)

▫️ Adjusted EPS: $9.34 (vs -$18.90)

▫️ Operating Income (EBIT): $1.23B (vs -$2.28B)

▫️ Adjusted EBITDA: $1.53B (vs $211M, +626%)

▫️ Net Income Margin: 41% (vs -178%)

▫️ Adjusted EBITDA Margin: 55% (vs 17%)

▫️ Average Freight Rate per TEU: $2,480 (vs $1,139, +118%)

▫️ Carried Volume: 970K TEUs (vs 867K TEUs, +12%)

💼 Balance Sheet Highlights (as of Sep 30, 2024, vs Dec 31, 2023):

▫️ Total Assets: $11.02B (vs $8.35B)

▫️ Total Liabilities: $7.09B (vs $5.89B)

▫️ Equity: $3.93B (vs $2.46B)

▫️ Net Debt: $2.70B (vs $2.31B)

🔮 Future Outlook:

▫️ ZIM increased FY24 guidance, expecting Adjusted EBITDA of $3.3B–$3.6B (previously $2.6B–$3.0B) and Adjusted EBIT of $2.15B–$2.45B (previously $1.45B–$1.85B).

▫️ Continued expansion of its fleet, including LNG-powered vessels, positions the company for sustainable growth and emissions reductions.

▫️ Enhanced exposure to spot market opportunities strengthens commercial agility.