ZIM Integrated Shipping Services Ltd. (ZIM) reported a significant turnaround in its financial performance for the second quarter and first half of 2024. The company announced consolidated results on August 19, 2024, revealing a net income of $373 million for Q2, a stark contrast to the net loss of $213 million in the same period of 2023. Adjusted EBITDA for Q2 soared to $766 million, marking a 179% increase year-over-year. The company's revenue also grew by 48% to $1.93 billion, driven by an 11% increase in carried volume and a 40% increase in average freight rate per TEU. ZIM's President & CEO, Eli Glickman, attributed the strong results to strategic execution, including increased spot market exposure and capacity upscaling. The company declared a dividend of $0.93 per share, totaling $112 million. Additionally, ZIM raised its full-year 2024 guidance, forecasting Adjusted EBITDA between $2.6 billion and $3.0 billion, and Adjusted EBIT between $1.45 billion and $1.85 billion. The company's net debt as of June 30, 2024, stood at $3.25 billion, with a net leverage ratio of 2.0x, an improvement from 2.2x at the end of 2023.

ZIM Integrated Shipping Services Ltd. (ZIM) reported a significant turnaround in its financial performance for the second quarter and first half of 2024. The company announced consolidated results on August 19, 2024, revealing a net income of $373 million for Q2, a stark contrast to the net loss of $213 million in the same period of 2023. Adjusted EBITDA for Q2 soared to $766 million, marking a 179% increase year-over-year. The company's revenue also grew by 48% to $1.93 billion, driven by an 11% increase in carried volume and a 40% increase in average freight rate per TEU. ZIM's President & CEO, Eli Glickman, attributed the strong results to strategic execution, including increased spot market exposure and capacity upscaling. The company declared a dividend of $0.93 per share, totaling $112 million. Additionally, ZIM raised its full-year 2024 guidance, forecasting Adjusted EBITDA between $2.6 billion and $3.0 billion, and Adjusted EBIT between $1.45 billion and $1.85 billion. The company's net debt as of June 30, 2024, stood at $3.25 billion, with a net leverage ratio of 2.0x, an improvement from 2.2x at the end of 2023.