Zim container liner shipping company expects to generate for the full year of 2023 adjusted Ebitda between $1.8 billion to $2.2 billion and adjusted Ebit between $100 million to $500 million.
Eli Glickman, ZIM´s President & CEO, optimistically predicts that Zim´s fortunes will strengthen and that the company will generate a positive Ebit in 2023. “For the full year, we expect to generate Adjusted EBITDA between $1.8 billion to $2.2 billion and Adjusted EBIT between $100 million to $500 million,” he said.
“While macroeconomic uncertainties, the precipitous decline in freight rates over the past few months and the supply-demand imbalance continue to drive a challenging near-term outlook for container shipping, we are confident in ZIM’s strategy, and believe we will generate positive EBIT in 2023,” as he also noted.
That is why the container liner issued a statement on Monday of between $1.8bn and $2.2bn in adjusted Ebitda for 2023.
The Israel-based shipping line announced big revenues for the full year which were $12.56 billion, a year-over-year increase of 17%, an adjusted Ebitda for the full year of $7.54 billion, a year-over-year increase of 14%, a net income for the full year of $4.63 billion compared to $4.65 billion for the full year of 2021, and operating income (Ebit) for the full year of $6.14 billion, a year-over-year increase of 5%.
The top management considers that 2022 was an exceptional year for ZIM, as the company capitalized on the differentiated strategy and the attractive market, driving record full year adjusted Ebitda and Ebit results.
Glickman’s conviction for a positive 2023 is premised also on the belief that the “company continuously review and adapt its network, to swiftly respond to customers’ changing needs, capitalize on shifting market dynamics and new growth opportunities, and maximize profitability.”
Launched in Israel in 1945, the New-York listed ZIM Integrated Shipping Services became a pioneer in container shipping in the early 1970’s, and has established itself as one of the leading global, asset-light container liner shipping companies.