Against the background of the surge in the maritime transport industry, the shipping company Zim reported today (Wednesday) record profits for the third quarter of the year. Net income in the third quarter amounted to about $ 1.46 billion, compared to $ 144 million in the corresponding quarter last year – a jump of about 913%.
Operating income (EBIT) in the third quarter totaled $ 1.86 billion, compared to $ 189 million in the same quarter last year – an increase of 884%. Revenue in the third quarter amounted to $ 3.14 billion, compared to $ 1.01 billion in the corresponding quarter last year – an increase of 210%.
ZIM led 884,000 containers (TEU) in the third quarter, up 16% from the same quarter last year. The average container transport price (TEU) in the third quarter of 2021 was $ 3,226 – an increase of 174% from the same quarter last year.
The Company announced a cash dividend of approximately $ 296 million, or $ 2.50 per ordinary share (reflecting a rate of approximately 20% of the net profit for the third quarter of 2021), to be paid on December 27, 2021 to the Company’s shareholders. The jump in Zim’s profits is also reflected in the company’s value. About four years ago its value was estimated at minus $ 200 million and today it stands at about $ 6 billion.
“Idan Ofer, the owner of Zim, is the only one who believed in Zim all the way. The current moment is a historic moment for Zim and for Israeli companies and is actually a record moment after many years in which individual people believed in Zim,” the company noted. ZIM CEO Eli Glickman, Said that only about four years ago an external editor gave an estimate that the company was worth minus $ 200 million and today the company’s market value stands at almost six billion dollars.
ZIM also stated that agreements have been signed for the lease of 25 ships powered by liquefied natural gas, which is immediately and directly vaccinated about 25% of the carbon emissions. “While we present quarterly record results, we are pleased to allocate additional capital to improve our commercial capabilities and maximize value to shareholders. Along with our success in securing operational fleet volumes and containers that will enable us to best serve our customers, we have distributed a special $ 2 dividend Per share in September 2021, and we are now moving to a quarterly dividend payment to provide shareholders with an immediate and more frequent return, ”Glickman noted.
He added that “according to the new policy, we will pay an interim dividend of $ 2.50 per share in December 2021 compared to the third quarter, which is about 20% of the quarterly net profit. Based on our expectation of a share of 30-50% of the 2021 net profit, we are prepared to return significant To shareholders in 2022. ”
Source: Maariv.co.il – כלכלה בארץ by www.maariv.co.il.
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