ZIM Q4 2024 results

Industry Discussions Shipping News
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03/12
ZIM Integrated (ZIM) announced Q4 2024 results earlier today, including

  • Rev of $2.17B
  • Adjusted EBITDA $967M
  • Carried volume increased over 40%
  • Q4 div of $3.17/sh

The earnings call was also useful. The “take private” was mentioned at least once, but ZIM mgmt decided “no comment” was the best answer. Most of the newbuild tonnage has delivered. That begs the question - what about the charter-in vessels in 2025 and 2026? Again, ZIM management downplayed the issue, and said “optionality” is a positive for them. On the tariff concerns and the “US ports fee” – Uncertainty on the tariff impact and too early to say on the latter (final decision, not until late Mar 2025).

On the call, ZIM decided to declared option on two large *either 8.5 K TEU or 8.6K TEU vessels $120M for the pair. ZIM suggests more of their vessels will be trading spot in 2025

I was surprised that, in light of the dividend declaration, ZIM shares tumbled. Took the opportunity to add to my ZIM stake,.

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That is a very healthy dividend.

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@buynholdisdead - The Q4 payout is usually a strong one. In 2024, ZIM had a nice Q3 payout ($2.81), and then supplemented it with a special dividend ($0.84). That actually might be a factor in the share sell-off. Were traders expecting more than the combined, or $3.65? There’s an Israel withholding of 25 - 30%. But, it is still a decent yield on a single payout. No rush on my part - I can wait until the tail-end of next week to make a call on whether I hold my stake or sell it prior to div (and avoid the taxes)

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