SIMIC

IN 2022, Zim brought in US$12.56 billion dollars and posted a net profit of $4.63 billion, reports the Jerusalem Post.
Net profit for the fourth quarter was $417 million, down from $1.71 billion in the same period last year, resulting in diluted earnings per share of $3.44 compared to $14.17 in the corresponding period in the previous year.
The net profit for the entire year of 2022 was $4.63 billion, slightly lower than the $4.65 billion recorded in 2021.
Adjusted Earnings Before Interest, Taxes, Depreciation, and Amortisation (EBITDA) for the fourth quarter amounted to $973 million, a decrease of 59 per cent from last year.
However, the adjusted EBITDA for the entire year of 2022 increased 14 per cent to reach $7.54 billion compared to the previous year.
"2022 was an exceptional year for Zim, during which we benefited from both our differentiated strategy and the attractive market, which resulted in record annual results," said Zim CEO Eli Glickman.
"Returning capital to shareholders remains the company's top priority, and we are pleased that, in light of our excellent performance, we have announced a dividend for the fourth quarter of approximately $769 million, or $6.40 per share. In total, we will distribute to the shareholder's dividends totaling about 2.04 billion dollars, which is about 44 per cent of the total net profit of 2022."
"During the last two years, against the backdrop of a highly profitable market, we have taken important steps to optimally position Zim to operate even in a more challenging business environment. In particular, we have improved our fleet management strategy to ensure transportation capacity with new ships, as well as improving our cost structure. In addition, we have decentralised our commercial presence to ensure that Zim optimises its performance to create long-term sustainable shareholder value," said Mr Glickman.
"We expect our new LNG-powered fleet to significantly improve our cost structure during 2023 and beyond, will strengthen Zim from a commercial point of view, and advance Zim's (ESG) sustainability goals as well as those of our customer."
"In accordance with our global niche strategy, we examine and make adjustments to our lineup of lines on an ongoing basis in order to respond quickly to changes in customer needs, take advantage of dynamic changes in the market and new growth opportunities, and maximise profitability," said Mr Glickman.