ZIM sailing into the black?
The Haifa (Israel)-headquartered shipping company ZIM has reported its Q1/2020 results. All major indicators improved in comparison to the same period in 2019, yet a net loss of USD 11.9 million compared to USD 24.3 million in Q1/2019 resulted at the of the quarter.
While revenues surged by 3.4% to USD 823 million (USD 796 million in Q1/2019), adjusted ebitda amounted to USD 97.2 million compared to USD 69.3 million last year (+40,3%).
The carrier transported 638,000 teu compared to 668,000 teu in Q1/2019, a 4.5% decrease. Eli Glickman, ZIM president & CEO, commented: “I’m pleased to report a significant improvement in ZIM’s performance, compared to the same period in 2019." (mw)