ZIM Integrated Shipping Services Ltd. announced its consolidated financial results for the fourth quarter and full year ended December 31, 2024. For the full year, total revenues reached $8.43 billion, a 63% increase from $5.16 billion in 2023, with net income of $2.15 billion, a significant improvement from a net loss of $2.69 billion in 2023.
Full-year Adjusted EBITDA was $3.69 billion, up 252% from $1.05 billion in 2023, achieving a 44% margin. Carried volumes for 2024 increased by 14% year-over-year to 3,751 thousand TEUs, and the average freight rate per TEU rose by 57% to $1,888. For Q4 2024, revenues were $2.17 billion, and net income was $563 million.
The company declared a Q4 2024 cash dividend of approximately $382 million, or $3.17 per ordinary share, payable on April 3, 2025. Total dividends for 2024 amounted to $961 million, or $7.98 per share, representing approximately 45% of the full year's net income. ZIM also provided its full-year 2025 outlook, projecting Adjusted EBITDA between $1.6 billion and $2.2 billion and Adjusted EBIT between $350 million and $950 million, assuming Red Sea conditions will not normalize until the second half of the year.
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