Realized I had commented on the METAR board, but not done a summary on ZIM here.
- Rev of $3.2B
- Net income of $1.2B
- Dividend of $2.95
- Volume of containers dipped 5% - 842K units
Given ZIM’s spot exposure, I expected a drop in both revenue and net income. Yet, the drop was only significant in one metric. Will Q4 also have a continued downward trend? From their adjustments, … probably.
Their significant cash position is good. But their vessel lease obligations still represents a significant offset.