ZIM reports financial results

ZIM Integrated Shipping Services reported lower earnings for both the fourth quarter and full year of 2025, reflecting a sharp decline in freight rates and slightly reduced cargo volumes compared with the previous year.

The global container liner operator recorded net income of $38 million in the fourth quarter of 2025, down significantly from $563 million in the same period of 2024. Diluted earnings per share stood at $0.32, compared with $4.66 a year earlier.

For the full year, ZIM posted net profit of $481 million, compared with $2.15 billion in 2024.

Adjusted EBITDA for the fourth quarter reached $327 million, representing a year-on-year decline of 66%. For the full year, adjusted EBITDA totaled $2.17 billion, down 41% from the previous year.

Operating income (EBIT) in the fourth quarter was $143 million, compared with $658 million in the fourth quarter of 2024. Full-year operating income reached $1.02 billion, down from $2.53 billion in 2024.

Revenues for the fourth quarter were $1.48 billion, a decrease of 32% year-on-year. Annual revenues totaled $6.90 billion, down 18% from the previous year.

Container volumes also declined slightly. ZIM carried 898,000 TEUs during the fourth quarter, compared with 982,000 TEUs a year earlier. For the full year, carried volume reached about 3.7 million TEUs, down 2% year-on-year.

The average freight rate per TEU dropped to $1,333 in the fourth quarter, compared with $1,886 in the same quarter of 2024. For the full year, the average rate was $1,551 per TEU, down from $1,888.

Despite the weaker market environment, the company maintained solid operating cash flow. Net cash generated from operating activities totaled $375 million in the fourth quarter and $2.3 billion for the full year.

Eli Glickman, President and CEO of ZIM, said the company achieved strong operational results despite the challenging market conditions.

“We achieved strong operational and financial results in 2025 with adjusted EBITDA and EBIT at the upper end of our guidance,” said Eli Glickman, President and CEO of ZIM Integrated Shipping Services.

The company declared a fourth-quarter dividend of approximately $106 million, or $0.88 per share, bringing total dividends distributed for 2025 earnings to $240 million, or $1.99 per share.

According to Glickman, ZIM has distributed approximately $5.8 billion in dividends since its initial public offering in January 2021.

“This exceptional return of capital to shareholders was driven by strategic execution and unwavering commitment to innovation and operational excellence,” said Glickman.

The company has continued to modernize its fleet and expand capacity through new charter agreements. Between the fourth quarter of 2024 and the fourth quarter of 2025, ZIM secured 36 newbuild containerships ranging from 3,000 to 12,000 TEU, with total capacity of about 250,000 TEU. Deliveries are expected to begin in the second half of 2026.

ZIM currently operates a fleet of 115 containerships with total capacity of approximately 707,000 TEU, along with 13 car carriers.

Looking ahead, the company expects continued pressure on freight rates in 2026 but believes its modern fleet and flexible deployment strategy will allow it to respond quickly to changing market conditions.

“With more modern, cost-effective capacity and our agile fleet deployment strategy, we are well positioned to respond quickly to evolving market conditions,” said Glickman.

Separately, ZIM confirmed that it has entered into a merger agreement with Hapag-Lloyd under which the German carrier will acquire ZIM for $35 per share in cash. The transaction, announced in February 2026, is expected to close by late 2026, subject to regulatory approvals and shareholder approval.

Until the completion of the deal, both companies will continue operating as separate and independent businesses.

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