ISRAELI carrier Zim Integrated Shipping Services has leapt ahead of rivals in reporting outstanding results for Q1 2025.
Consolidated results for the three months ended 31 March 2025 saw net income reach USD 296 million (compared to $92 million in the first quarter of 2024), while adjusted EBITDA for the first quarter was $779 million, a year-over-year increase of 82%.
Operating income (EBIT) for the first quarter was $464 million, compared to $167 million in the first quarter of 2024. Revenues for the first quarter were $2.01 billion, a year-over-year increase of 28%, ZIM said.
Carried volume in the first quarter was 944 thousand TEU, a year-over-year increase of 12%. Average freight rate per TEU in the first quarter was $1,776, a year-over-year increase of 22%. Net debt of $2.49 billion as of 31 March 2025, fell compared to net debt of $2.88 billion as of 31 December 2024.
Eli Glickman, ZIM President & CEO, said ZIM began the year with positive momentum, but “As we look toward the remainder of the year, the operating environment is highly uncertain, driven by a range of factors impacting global trade and economic expectations.
“For ZIM, our focus is on controlling what we can and responding to market shifts quickly with decisive actions. We continuously assess how to best allocate capacity and have taken steps to modify our network to match the changes in cargo flow from China and other Southeast Asian markets into the United States, including within the last week, which underscores the agile nature of our commercial strategy,” Mr. Glickman said.
“Despite the heightened level of uncertainty, we have reaffirmed our 2025 outlook of Adjusted EBITDA between $1.6 billion and $2.2 billion and Adjusted EBIT between $350 million and $950 million.
“We are confident that we have built a resilient business and will continue to benefit from the strategic investment in our fleet with larger, more modern, cost-effective capacity, approximately 40% of which is LNG-fuelled. Supported by our lower cost base, we believe ZIM is well positioned to drive profitable growth over the long term.