ZIM announces 2017 results

ZIM posted strong 2017 annual results. During 2016-2017, the container shipping industry went through a structural change as a result of the extensive activity of mergers and acquisitions that also led to reorganization of the global alliances, the company announces in its press release.
 
In the face of this dynamic and challenging business environment, ZIM continues to outperform the industry and achieve improved results. ZIM’s 2017 results reflect the constant improvement in the company’s performance, as a result of the comprehensive transformation the company has implemented in recent periods.
 
ZIM reported an adjusted EBITDA of $53 million in Q4 2017 compared to $44 million in Q4 2016, with an adjusted EBITDA margin of 7%.
 
The carried quantities increased by 12% to 685 thousand TEUs in Q4 2017, compared to  613 thousand TEUs in the same period of 2016.
 
Financial and Operating Highlights for the Year Ended December 31, 2017
 
    Adjusted net profit was $50 million, compared to adjusted net loss of $150 million in the comparable period of 2016
    Net Profit was $11 million, compared to net loss of $163 million in the comparable period of 2016
    Total revenues were $2,978 million, compared to $2,539 million in the comparable period of 2016, a 17% increase
    Operating cash flow was $231 million, compared to $33 million in the comparable period of 2016
    Adjusted EBITDA was $270 million compared to $47 million in the comparable period of 2016
    EBITDA was $246 million, compared to negative $50 million in the comparable period of 2016
    Adjusted EBIT was $162 million compared to negative $54 million in the comparable period of 2016
    EBIT was $135 million, compared to negative $52 million in the comparable period of 2016
    ZIM carried 2,629 thousand TEUs, compared to 2,429 thousand TEUs in the comparable period of 2016, an 8% increase
    The average freight rate per TEU was $995, compared to $902 in the comparable period of 2016, a 10% increase   
 
Financial and Operating Highlights for the Three Months Ended December 31, 2017
     Adjusted net loss was $1 million, compared to adjusted net profit of $1 million in Q4 2016.
     Net loss was $10 million, compared to net profit of $5 million in Q4 2016
    Total revenues were $761 million, compared to $653 million in Q4 2016, a 17% increase
    Operating cash flow was $62 million, compared to $17 million in Q4 2016
    Adjusted EBITDA was $53 million compared to $44 million in Q4 2016
    EBITDA was $48 million compared to $53 million in Q4 2016
    Adjusted EBIT was $25 million, compared to $17 million in Q4 2016
    EBIT was $20 million, compared to $26 million in Q4 2016
    The average freight rate per TEU was $959, compared to $915 in Q4 2016, a 5% increasehe average freight rate per TEU was $959, compared to $915 in Q4 2016, a 5% increase