ZIM Integrated Shipping Services Ltd (ZIM)

ZIM Shares Slide After Israeli Government Pushes Back on Hapag-Lloyd Deal (ZIM)July 6, 2026 9:11 AM
IH Market News Government Voices Opposition to Proposed Transaction ZIM Integrated Shipping Services (NYSE:ZIM) shares dropped 6.8% on Monday after senior Israeli officials publicly opposed the company’s proposed sale to Hapag-Lloyd. According to Ynet, Prime Minister Benjamin Netanyahu said the proposed transaction is “not on the agenda” during a cabinet meeting, following concerns raised by Deputy Minister Almog Cohen over the strategic implications of the deal. Cohen argued that Hapag-Lloyd’s ownership structure, which includes Qatari and Saudi investors, could pose risks to Israel’s national interests. Defense Ministry Raises National Security Concerns Israel’s Defense Ministry also signaled its opposition to the proposed acquisition. In a statement, the ministry said defense officials believe the transaction, in its current form, does not provide sufficient safeguards for Israel’s security interests. Defense Minister Israel Katz backed the ministry’s recommendation and told the cabinet that the government retains a “golden share” in ZIM, giving it powers that could be exercised if required, according to the report. Merger Agreement Announced Earlier This Year ZIM announced in February that it had entered into a merger agreement with Hapag-Lloyd, marking a significant step toward combining the two shipping companies. Following the latest comments from government officials, there was no immediate response from the Israeli prime minister’s office regarding the future of the proposed transaction. The developments introduce additional uncertainty around the deal as investors assess the potential impact of regulatory and government intervention. The post ZIM Shares Slide After Israeli Government Pushes Back on Hapag-Lloyd Deal (ZIM) appeared first on US Editors. Original: ZIM Shares Slide After Israeli Government Pushes Back on Hapag-Lloyd Deal (ZIM)

ZIM Provides Update on Merger AgreementJuly 6, 2026 8:00 AM
PR Newswire (US) HAIFA, Israel, July 6, 2026 /PRNewswire/ -- ZIM Integrated Shipping Services Ltd. (NYSE: ZIM) ("ZIM" or the "Company") today provided an update regarding its previously announced merger agreement with Hapag-Lloyd. The Company continues to act in accordance with the agreement and in ongoing collaboration with the relevant state authorities as part of the regulatory review process. About ZIM Founded in Israel in 1945, ZIM (NYSE: ZIM) is a leading global container liner shipping company with operations in more than 90 countries, serving over 30,000 customers across more than 300 ports worldwide. ZIM leverages digital strategies and a commitment to ESG values to provide customers innovative seaborne transportation and logistics services and exceptional customer experience. ZIM's differentiated global-niche strategy, based on agile fleet management and deployment, covers major trade routes with a focus on select markets where the company holds competitive advantages. Additional information about ZIM is available at www.ZIM.com.Forward-Looking StatementsThe above information contains, or may be deemed to contain forward-looking statements (as defined in the U.S. Private Securities Litigation Reform Act of 1995). These forward-looking statements may include but are not limited to statements about the expected completion of the proposed transaction and the timing thereof, the satisfaction or waiver of any conditions to the proposed transaction, anticipated benefits, growth opportunities, intent, results and other events relating to the proposed transaction. In some cases, you can identify these statements by forward-looking words such as "may," "might," "will," "should," "expect," "plan," "anticipate," "believe," "estimate," "predict," "potential" or "continue," the negative of these terms and other comparable terminology, but are not the only way these statements are identified. These forward-looking statements are subject to risks, uncertainties and assumptions about the Company. These statements are only predictions based on the Company's current expectations and projections about future events or results. There are many factors that could cause the Company's actual results, level of activity, performance or achievements or matters relating to the proposed transaction to differ materially from the results, level of activity, performance or achievements expressed or implied by the forward-looking statements, including without limitation: (1) the parties may fail to satisfy any of the conditions to the closing of the proposed transaction, including the potential failure to obtain approval by the Company's shareholders or applicable regulatory authorities; (2) the Company may incur unexpected costs, liabilities or delays relating to the proposed transaction; (3) the Company's business may suffer as a result of uncertainty surrounding the proposed transaction and diversion of management attention on transaction related matters; (4) the Company may become subject to legal proceedings related to the proposed transaction, and the outcomes thereof; (5) the Company may be adversely affected by other economic, business and/or competitive factors; (6) the occurrence of any event, change or other circumstances that could give rise to the termination of the proposed transaction; (7) difficulties in recognizing benefits of the proposed transaction; (8) the proposed transaction may disrupt current plans and operations and raise difficulties for employee retention; (9) impact of the proposed transaction on the Company's business relationships; (10) other risks relating to the proposed transaction, including the risk that the proposed transaction will not be completed within the expected time period or at all, and that its termination under certain conditions could result in the Company's requirement to pay a termination fee; and (11) the factors, risks and uncertainties detailed from time to time in the Company's filings with the SEC, including under the caption "Risk Factors" in its 2025 Annual Report filed with the SEC on March 9, 2026. These forward-looking statements are made only as of the date hereof, and other than as required by applicable law, the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.Investor Relations:
Elana Holzman
ZIM Integrated Shipping Services Ltd.
+972-4-865-2300
holzman.elana @esculapio65-8438
lberman@igbir.com Media:
Avner Shats
ZIM Integrated Shipping Services Ltd.
+972-4-865-2520
media@zim.com Logo: https://mma.prnewswire.com/media/1933864/5662885/ZIM_Logo.jpg  View original content:https://www.prnewswire.com/news-releases/zim-provides-update-on-merger-agreement-302818323.htmlSOURCE ZIM Integrated Shipping Services Ltd. Original: ZIM Provides Update on Merger Agreement

ZIM Board of Directors Appoints Dr. Chen Lichtenstein as President and CEO of the Company; will also be joining its Board of DirectorsJune 1, 2026 4:00 AM
PR Newswire (US) HAIFA, Israel, June 1, 2026 /PRNewswire/ -- ZIM Integrated Shipping Services Ltd. (NYSE: ZIM) ("ZIM" or the "Company"), a global container liner shipping company, announced today the appointment of Dr. Chen Lichtenstein as its new President and Chief Executive Officer following the resignation on April 15, 2026, of Eli Glickman, the existing President and Chief Executive Officer. The appointment of Dr. Lichtenstein will become effective as of July 1, 2026, at which time Dr. Lichtenstein will also become a member of the Board of Directors of the Company. The employment agreement between the Company and Dr. Lichtenstein will be brought to shareholder approval as required by the Israeli Companies Law of 1999. Dr. Lichtenstein brings with him extensive management, business and financial experience in the global arena, including leading complex international companies, managing growth processes, integration and organizational change, operating in international markets and working with boards of directors, shareholders and global investment bodies.From 2020 to 2023, he served as the Chief Financial Officer at Syngenta Group, a global agricultural technology company, and was also responsible for strategy, integration and productivity. In this role, he was a key partner in building the global group, which included Syngenta Seeds, Syngenta Crop Protection, ADAMA and the Group's operations in China, and led significant steps towards growth, synergies, efficiency and management of a complex debt structure. Prior to his position at Syngenta Group, Dr. Lichtenstein served as the President and CEO of ADAMA Ltd. (formerly known as Makhteshim Agan Industries Ltd.) from 2014 to 2020, which he led during a period of significant, industry-leady growth, improved profitability and cash flow, integration with ChemChina's operations, and a listing on the Shenzhen Stock Exchange. From 2013 to 2014, Dr. Lichtenstein also served as President and CEO of China National Agrochemical Corporation, ChemChina's strategic agrochemical division, and parent of Syngenta Group. From 2006 to 2013 he served as the Deputy Chief Executive Officer, Head of Global Operations and held various other roles within Makhteshim Agan Industries, where he led, among other things, broad areas of activity including global operations, business development, integration in China, R&D, supply chain, purchasing and manufacturing. Previously Dr. Lichtenstein served as a senior investment banking executive at Goldman Sachs in New York and London from 1999 to 2006, where he led acquisition and financing transactions of significant scope.Dr. Lichtenstein currently serves as a member of the Board of Directors at Teva Pharmaceuticals Ltd., as chairman of the board of directors at international companies in the fields of environmental sciences and biotechnology and as a senior advisor to international investment entities. Dr. Lichtenstein holds joint doctoral degrees from the Graduate School of Business and the School of Law at Stanford University, a B.Sc. in Physics from the Faculty of Mathematics and Natural Sciences, summa cum laude, and an LL.B. from the Faculty of Law, cum laude, at the Hebrew University of Jerusalem.Dr. Lichtenstein was appointed following a search process, which was conducted on behalf of the ZIM Board of Directors, with the participation of the directors Yair Seroussi, the Chairman of the Board, Dr. Yoram Turbowicz and Yair Avidan.Yair Seroussi, Chairman of the Board, stated, "Dr. Chen Lichtenstein is a highly experienced top-tier international executive, with a unique combination of extensive managerial experience, financial depth, strategic insight, and the ability to lead complex global organizations. His broad experience in managing international companies, working with global markets, shareholders, and boards of directors, together with his judgment and experience in leading transformation and integration processes, make him the right executive to lead ZIM at this time. We thank Eli Glickman for his significant contribution to the Company and wish Chen great success in his role."Dr. Lichtenstein, ZIM President and CEO-appointee stated, "I thank ZIM's Board of Directors for its confidence and for the opportunity to lead a global Israeli company with a meaningful legacy, growth and business success, broad international operations, and outstanding people. ZIM operates in a dynamic, competitive, and complex market, and I attach great importance to maintaining the Company's stability, strengthening its performance and business capabilities, and continuing to create value for customers, employees, partners, and shareholders."About ZIMFounded in Israel in 1945, ZIM (NYSE: ZIM) is a leading global container liner shipping company with operations in more than 90 countries, serving over 30,000 customers across more than 300 ports worldwide. ZIM leverages digital strategies and a commitment to ESG values to provide customers innovative seaborne transportation and logistics services and exceptional customer experience. ZIM's differentiated global-niche strategy, based on agile fleet management and deployment, covers major trade routes with a focus on select markets where the company holds competitive advantages. Additional information about ZIM is available at www.ZIM.com.Investor Relations:
Elana Holzman
ZIM Integrated Shipping Services Ltd.
+972-4-865-2300
holzman.elana @esculapio65-8438
lberman@igbir.comMedia:
Avner Shats
ZIM Integrated Shipping Services Ltd.
+972-4-865-2520
media@zim.comLogo: https://mma.prnewswire.com/media/1933864/ZIM_Logo.jpg   View original content:https://www.prnewswire.com/news-releases/zim-board-of-directors-appoints-dr-chen-lichtenstein-as-president-and-ceo-of-the-company-will-also-be-joining-its-board-of-directors-302786894.htmlSOURCE ZIM Integrated Shipping Services Ltd. Original: ZIM Board of Directors Appoints Dr. Chen Lichtenstein as President and CEO of the Company; will also be joining its Board of Directors

ZIM Swings to First-Quarter Loss as Freight Rates Weaken, Shares Slip (ZIM)May 20, 2026 8:53 AM
IH Market News ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) reported a net loss of $86 million for the first quarter ended March 31, 2026, reversing from net income of $296 million recorded in the same period last year. Shares of the shipping company fell more than 2% in pre-market trading following the results. Revenue and Freight Rates Decline Quarterly revenue dropped to $1.40 billion from $2.01 billion a year earlier as softer shipping demand and lower freight rates weighed on performance.Carried volume decreased to 866,000 twenty-foot equivalent units (TEUs), compared with 944,000 TEUs in the first quarter of 2025. Average freight rates per TEU declined to $1,310 from $1,776 in the prior-year period.Operating results deteriorated significantly, with ZIM posting an operating loss (EBIT) of $18 million versus operating income of $464 million a year earlier.Adjusted EBITDA fell to $313 million from $779 million, while adjusted EBITDA margin narrowed to 22% from 39%. Adjusted EBIT showed a loss of $5 million, compared with adjusted EBIT of $463 million in the same quarter last year. Profitability and Cash Flow Weaken Loss before income taxes totaled $98 million, compared with pre-tax profit of $381 million in the prior-year quarter. A tax benefit of $12 million partially reduced the loss.Diluted loss per share came in at $0.71, compared with diluted earnings per share of $2.45 a year ago.Net cash generated from operating activities declined to $263 million from $855 million in the first quarter of 2025. Free cash flow also dropped sharply to $235 million from $787 million.Capital expenditures were reduced to $31 million from $78 million a year earlier.As of March 31, 2026, net debt stood at $2.93 billion, unchanged from a year earlier, while the company’s net leverage ratio increased to 1.7x from 1.3x at the end of 2025. Management Cites Freight Pressure and Fuel Cost Volatility ZIM President and Chief Executive Eli Glickman said the quarter reflected a “softer freight rate environment, coupled with weaker demand,” adding that the conflict in the Persian Gulf “has sparked a sharp increase and significant volatility in bunkering costs.”He added that the company expects “a more meaningful effect in the second quarter, before our actions to offset these costs, including increased freight rates and bunker-specific surcharges, begin to take hold.”The company also announced that it will not pay a dividend for the first quarter, citing its dividend policy and the quarterly net loss. Hapag-Lloyd Acquisition Remains on Track On February 16, 2026, ZIM entered into a merger agreement under which Germany-based Hapag-Lloyd will acquire the company for $35.00 per share in cash.Shareholders approved the transaction on April 30, 2026, and the deal is expected to close during the fourth quarter of 2026, pending regulatory approvals, including clearance from the State of Israel.ZIM currently operates a fleet of 114 containerships with total capacity of 699,000 TEUs, along with 13 car carriers.ZIM Integrated Shipping stock price Original: ZIM Swings to First-Quarter Loss as Freight Rates Weaken, Shares Slip (ZIM)

ZIM Reports Financial Results for the First Quarter of 2026May 20, 2026 7:00 AM
PR Newswire (US) Reported First Quarter Revenues of $1.40 Billion, Net Loss of $86 Million, Adjusted EBITDA1 of $313 Million and Adjusted EBIT1 Loss of $5 MillionHAIFA, Israel, May 20, 2026 /PRNewswire/ -- ZIM Integrated Shipping Services Ltd. (NYSE: ZIM) ("ZIM" or the "Company"), a global container liner shipping company, announced today its consolidated results for the three months ended March 31, 2026. First Quarter 2026 HighlightsNet loss for the first quarter was $86 million (compared to a net income of $296 million in the first quarter of 2025), or diluted loss per share of $0.712 (compared to diluted earnings per share of $2.45 in the first quarter of 2025).Adjusted EBITDA for the first quarter was $313 million, a year-over-year decrease of 60%.Operating loss (EBIT) for the first quarter was $18 million, compared to operating income of $464 million in the first quarter of 2025.Adjusted EBIT loss for the first quarter was $5 million, compared to Adjusted EBIT of $463 million in the first quarter of 2025.Revenues for the first quarter were $1.40 billion, a year-over-year decrease of 30%.Carried volume in the first quarter was 866 thousand TEUs, a year-over-year decrease of 8%.Average freight rate per TEU in the first quarter was $1,310, a year-over-year decrease of 26%.Net leverage ratio1 of 1.7x as of March 31, 2026, compared to 1.3x as of December 31, 2025; net debt1 of $2.93 billion as of March 31, 2026, compared to net debt of $2.92 billion as of December 31, 2025.Eli Glickman, ZIM President & CEO, stated, "Our first quarter results were broadly in line with our expectations, reflecting a softer freight rate environment, coupled with weaker demand. Importantly, as the proposed transaction with Hapag-Lloyd moves forward and we continue to navigate the ongoing hostilities affecting Israel and the Middle East, ZIM remains firmly focused on service reliability and disciplined execution. We appreciate the strong support of our valued customers, who have remained engaged and constructive throughout this period."Mr. Glickman added, "The conflict in the Persian Gulf has sparked a sharp increase and significant volatility in bunkering costs. While the impact on first quarter results was minimal, we expect a more meaningful effect in the second quarter, before our actions to offset these costs, including increased freight rates and bunker-specific surcharges, begin to take hold. It is also important to note that ZIM is likely to see incremental benefits from our early adoption of LNG technology and long-term agreements with Shell securing LNG supply on competitive terms. With a fleet comprised of approximately 40% LNG-powered capacity, ZIM not only offers shippers a pathway to significantly reduced carbon emissions but maintains a fuel-efficient and cost-effective fleet." "Although market fundamentals remain challenging across ZIM's main trade lanes, we have recently observed a positive change in the trend on the Transpacific trade with freight rates strengthening alongside demand. If this momentum continues, we expect it to support our financial performance, particularly in the second half of the year. In parallel, we completed annual contract negotiations, which went into effect on May 1, maintaining similar contracted volumes to last year with approximately 65% of our Transpacific volume exposed to spot rates. This approach underpins our nimble commercial strategy and allows us to stay agile and proactive in deploying capacity as demand patterns shift. Moreover, initiatives such as ZIM on Air, a newly launched service that provides combined sea and air shipping from Asia to the U.S and Europe, underscore our innovative spirit and ability to deliver differentiated solutions. We continue to receive very positive feedback from both existing and new customers who rely on ZIM to meet their evolving shipping needs."Mr. Glickman concluded, "Pending completion of the proposed transaction with Hapag-Lloyd, which remains subject to approvals by various regulatory authorities including the State of Israel, our commitment to operational excellence and customer service remains unchanged. The strength of our organization begins with our people, and I thank the exceptional ZIM team for its dedication and service especially during this turbulent time. With our improved cost base and modernized fleet, we believe we have built a business that is well positioned to weather near-term headwinds and support long-term profitable growth." Summary of Key Financial and Operational Results
Q1-26Q1-25Carried volume (TEU in thousands) .................... 866944Average freight rate ($/TEU)................................ 1,3101,776Total revenues ($ in millions)............................... 1,3962,007Operating income (loss) (EBIT) ($ in millions)..... (18)464Profit (loss) before income tax ($ in millions)....... (98)381Net income (loss) ($ in millions)........................... (86)296Adjusted EBITDA ($ in millions)...........................313779Adjusted EBIT ($ in millions)................................ (5)463Net income (loss) margin (%).............................. (6)15Adjusted EBITDA margin (%)..............................2239Adjusted EBIT margin (%)...................................(0)23Diluted earnings (loss) per share ($)................... (0.71)2.45Net cash generated from operating
activities ($ in millions)........................................ 263855Free cash flow1 ($ in millions).............................235787
MAR-31-26DEC-31-25Net debt ($ in millions)......................................... 2,9332,925 Financial and Operating Results for the First Quarter Ended March 31, 2026Total revenues were $1.40 billion for the first quarter of 2026, compared to $2.01 billion for the first quarter of 2025, mainly driven by a decrease in freight rates, as well as in carried volume.ZIM carried 866 thousand TEUs in the first quarter of 2026, compared to 944 thousand TEUs in the first quarter of 2025. The average freight rate per TEU was $1,310 for the first quarter of 2026, compared to $1,776 for the first quarter of 2025.Operating loss (EBIT) for the first quarter of 2026 was $18 million, compared to operating income of $464 million for the first quarter of 2025. The decrease was driven primarily by the above-mentioned decrease in revenues.Net loss for the first quarter of 2026 was $86 million, compared to net income of $296 million for the first quarter of 2025, driven primarily by the above-mentioned decrease in revenues, partially offset by the change in income taxes.Adjusted EBITDA for the first quarter of 2026 was $313 million, compared to $779 million for the first quarter of 2025. Adjusted EBIT loss was $5 million for the first quarter of 2026, compared to Adjusted EBIT of $463 million for the first quarter of 2025. Adjusted EBITDA and Adjusted EBIT margins for the first quarter of 2026 were 22% and 0%, respectively. This compares to 39% and 23% for the first quarter of 2025, respectively.Net cash generated from operating activities was $263 million for the first quarter of 2026, compared to $855 million for the first quarter of 2025.Liquidity, Cash Flows and Capital AllocationZIM's total cash position (which includes cash and cash equivalents and investments in bank deposits and other investment instruments) decreased by $265 million from $2.80 billion as of December 31, 2025 to $2.54 billion as of March 31, 2026. Capital expenditures totaled $31 million for the first quarter of 2026, compared to $78 million for the first quarter of 2025. Net debt position as of March 31, 2026, was $2.93 billion, compared to a net debt position of $2.92 billion as of December 31, 2025, an increase of $8 million. ZIM's net leverage ratio as of March 31, 2026, was 1.7x, compared to 1.3x as of December 31, 2025.Fleet Update ZIM currently operates 114 containerships with a total capacity of 699 thousand TEUs, as well as 13 car carriers, compared to 126 containerships with total capacity of 774 thousand TEU and 15 car carriers as of our Q1 2025 earnings release (May 19, 2025).In addition, the Company has 10 containerships scheduled for charter expiration in 2026, representing an aggregate capacity of approximately 36 thousand TEU. In 2027, 17 containerships are scheduled for charter expiration, representing an aggregate capacity of approximately 34 thousand TEU.ZIM has entered into charter agreements for an aggregate of approximately 250 thousand TEU of newbuild capacity, with deliveries scheduled for future periods, including:Four 8,000 TEU vessels with charter durations between 5 to 7.5 years and expected delivery between the second half of 2026 and the first half of 2027Ten 11,500 TEU dual-fuel LNG vessels with charter duration of 12 years and expected delivery between 2027 and 2028. ZIM holds options to purchase these vesselsTwo containerships with capacity of 12,000 TEU, scheduled for delivery between 2027 and 2028, with charter periods of up to five years, in addition to optional extensions20 ships with capacity ranging from 3,000 to 5,000 TEU, scheduled for delivery between 2027 and 2028, with charter periods of up to five years, in addition to optional extensions Volume Breakdown by Geographic Trade Zone (K TEU)*
Three months ended March 31
2026
2025Pacific391
385Cross-Suez66
85Atlantic114
140Intra-Asia198
193Latin America97
141Total866
944* The table above may contain slight summation differences due to rounding. First Quarter 2026 DividendIn accordance with its dividend policy and in light of the net loss recorded in the first quarter of 2026, the Company will not pay a dividend to shareholders on account of its first quarter results.All future dividends are subject to the discretion of Company's Board of Directors and to the restrictions provided by Israeli law. In addition, distribution of special dividends is restricted under the merger agreement between the Company and Hapag-Lloyd.Transaction with Hapag-LloydOn February 16, 2026, ZIM announced that it entered into a merger agreement with Hapag-Lloyd, under which Hapag-Lloyd will acquire ZIM for $35.00 per share in cash. The transaction was unanimously approved by ZIM's Board of Directors and approved by shareholders at a special meeting held on April 30, 2026. The transaction remains subject to satisfaction of customary closing conditions, including approvals by various regulatory authorities among them the State of Israel pursuant to the requirements of the Special State Share (the "Golden Share") and is expected to close in the fourth quarter of 2026.Until the closing of the transaction, Hapag-Lloyd and ZIM will remain separate independent companies and ZIM will continue to operate in the ordinary course.Conference Call UpdateIn light of the proposed transaction with Hapag-Lloyd, ZIM will not host a conference call in connection with its first quarter 2026 results.About ZIM Founded in Israel in 1945, ZIM (NYSE: ZIM) is a leading global container liner shipping company with operations in more than 90 countries, serving over 30,000 customers across more than 300 ports worldwide. ZIM leverages digital strategies and a commitment to ESG values to provide customers innovative seaborne transportation and logistics services and exceptional customer experience. ZIM's differentiated global-niche strategy, based on agile fleet management and deployment, covers major trade routes with a focus on select markets where the company holds competitive advantages. Additional information about ZIM is available at www.ZIM.com.Forward-Looking Statements The following information contains, or may be deemed to contain forward-looking statements (as defined in the U.S. Private Securities Litigation Reform Act of 1995). In some cases, you can identify these statements by forward-looking words such as "may," "might," "will," "should," "expect," "plan," "anticipate," "believe," "estimate," "predict," "potential" or "continue," the negative of these terms and other comparable terminology. These forward-looking statements, which are subject to risks, uncertainties, assumptions, and other important factors, may include statement regarding macroeconomic and geopolitical conditions, chartering agreements, anticipated capacity, and the timing thereof, statements relating to the timing and closing of the merger agreement with Hapag-Lloyd, the Company's anticipated growth strategies and anticipated trends in its business. These statements are only predictions based on the Company's current expectations and projections about future events or results. There are important factors that could cause the Company's actual results, level of activity, performance or achievements to differ materially from the results, level of activity, performance or achievements expressed or implied by the forward-looking statements. Factors that could cause such differences include, but are not limited to: our expectations regarding general market conditions as a result of the current geopolitical instability, developments and further escalation of events, including, but not limited to, risks and uncertainties relating to outcome of the merger agreement with Hapag-Lloyd, the current military conflict between Israel and the U.S. against Iran and some of its proxies, the Houthi attacks against vessels in the Red Sea, the war between Israel and Hamas, Iran and Iranian-backed proxies (including its impact on the Strait of Hormuz), the political and military instability in the Middle East and the war between Russia and Ukraine; our expectations regarding general market conditions as a result of global economic trends, including potential rising inflation and interest rates as a result of geopolitical and other events; our expectations regarding trends related to the global container shipping industry, including with respect to fluctuations in vessel and container supply, industry consolidation, demand for containerized shipping services, bunker and alternative fuel prices and supply, charter and freights rates, container values and other factors affecting supply and demand; our plans regarding our business strategy, areas of possible expansion and expected capital spending or operating expenses; our ability to adequately respond to political, economic and military instability in Israel and the Middle East (particularly as a result of the Israel-Hamas war and the Israel-Hezbollah and Israel-Iran armed conflicts), and our ability to maintain business continuity as an Israeli-incorporated company in times of emergency; our ability to effectively handle cyber-security threats and recover from cyber-security incidents, including in connection with the war between Israel and Iran and Iranian-backed proxies; our anticipated ability to obtain additional financing in the future to fund expenditures; our expectation of modifications with respect to our and other shipping companies' operating fleet and lines, including the utilization of larger vessels within certain trade zones and modifications made in light of environmental regulations; the expected benefits of our cooperation agreements and strategic partnerships; formation of new alliances among global carriers, changes in and disintegration of existing alliances and collaborations, including alliances and collaborations to which we are not a party to; our anticipated insurance costs; our expectations regarding the availability of crew; our expectations regarding our environmental and regulatory conditions, including extreme weather events (such as the drought conditions in the Panama Canal), changes in laws and regulations or actions taken by regulatory authorities, and the expected effect of such regulations; our expectations regarding potential liability from current or future litigation; our plans regarding hedging activities; our ability to pay dividends in accordance with our dividend policy; our expectations regarding our competition and ability to compete effectively, and other risks and uncertainties detailed from time to time in the Company's filings with the U.S. Securities and Exchange Commission (SEC), including under the caption "Risk Factors" in its 2025 Annual Report filed with the SEC on March 9, 2026. Although the Company believes the expectations reflected in the forward-looking statements contained herein are reasonable, it cannot guarantee future results, level of activity, performance or achievements. The Company assumes no duty to update any of these forward-looking statements after the date hereof to conform its prior statements to actual results or revised expectations, except as otherwise required by law.The Company prepares its financial statements in accordance with IFRS Accounting Standards (IFRSs), as issued by the International Accounting Standards Board (IASB).Use of Non-IFRS Financial MeasuresThe Company presents non-IFRS measures as additional performance measures as the Company believes that it enables the comparison of operating performance between periods on a consistent basis. These measures should not be considered in isolation, or as a substitute for operating income, any other performance measures, or cash flow data, which were prepared in accordance with IFRS as measures of profitability or liquidity. Please note that Adjusted EBITDA does not take into account debt service requirements or other commitments, as well as capital expenditures, and therefore, does not necessarily indicate the amounts that may be available for the Company's use. In addition, the non-IFRS financial measures presented by the Company may not be comparable to similarly titled measures reported by other companies due to differences in the way these measures are calculated.Adjusted EBITDA is a non-IFRS financial measure which we define as net income (loss) adjusted to exclude financial expenses (income), net, income taxes, depreciation and amortization in order to reach EBITDA, and further adjusted, as applicable, to exclude impairment of assets (or the reversal of which), capital gains (losses) beyond the ordinary course of business, expenses related to legal contingencies and acquisition related expenses (compensation costs and professional fees).Adjusted EBIT is a non-IFRS financial measure which we define as net income (loss) adjusted to exclude financial expenses (income), net and income taxes, in order to reach our results from operating activities, or EBIT, and further adjusted, as applicable, to exclude impairment of assets (or the reversal of which), capital gains (losses) beyond the ordinary course of business, expenses related to legal contingencies and acquisition related expenses (compensation costs and professional fees).Free cash flow is a non-IFRS financial measure which we define as net cash generated from operating activities minus capital expenditures, net.Net debt is a non-IFRS financial measure which we define as face value of short- and long-term debt, minus cash and cash equivalents, bank deposits and other investment instruments.  We refer to this measure as net cash when cash and cash equivalents, bank deposits and other investment instruments exceed the face value of short- and long-term debt.Net leverage ratio is a non-IFRS financial measure which we define as net debt (see above) divided by Adjusted EBITDA for the last twelve-month period. When our net debt is less than zero, we report the net leverage ratio as zero.See the reconciliation of net income to Adjusted EBIT and Adjusted EBITDA and net cash generated from operating activities to free cash flow in the tables provided below.1 See "Use of Non-IFRS Financial Measures." A reconciliation of each non-IFRS financial measure to its closest respective IFRS measure is provided in the tables below.
2 The number of shares used to calculate the diluted earnings per share is 120,477,221. The number of outstanding shares as of March 31, 2026 was 120,519,658.  Investor Relations:Elana Holzman
ZIM Integrated Shipping Services Ltd.
+972-4-865-2300
holzman.elana @esculapio65-8438
lberman@igbir.comMedia:Avner Shats
ZIM Integrated Shipping Services Ltd.
+972-4-865-2520
media@zim.com CONSOLIDATED BALANCE SHEET (Unaudited)
(U.S. dollars in millions)
March 31
December 31
2026
2025
2025Assets




Vessels 5,560.5
5,727.5
5,801.7Containers and handling equipment 1,084.2
1,065.6
1,102.1Other tangible assets 137.0
105.2
137.8Intangible assets108.5
110.3
109.4Investments in associates  34.4
22.0
28.6Other investments 967.9
1,109.0
1,051.7Other receivables 121.6
55.5
137.0Deferred tax assets 8.8
7.6
9.2Total non-current assets8,022.9
8,202.7
8,377.5





Inventories206.6
217.5
167.8Trade and other receivables720.9
760.0
676.0Other investments 705.7
765.4
735.1Cash and cash equivalents921.6
1,546.1
1,051.7Total current assets2,554.8
3,289.0
2,630.6Total assets10,577.7
11,491.7
11,008.1





Equity




Share capital and reserves2,046.5
2,039.8
2,051.4Retained earnings1,777.7
1,918.1
1,969.5Equity attributable to owners of the Company3,824.2
3,957.9
4,020.9Non-controlling interests3.9
6.0
4.7Total equity3,828.1
3,963.9
4,025.6





Liabilities




Lease liabilities4,320.7
4,539.7
4,551.6Loans and other liabilities 43.1
55.5
47.2Employee benefits71.5
55.2
63.4Deferred tax liabilities164.3
83.6
186.2Total non-current liabilities4,599.6
4,734.0
4,848.4





Trade and other payables703.7
1,137.8
636.4Provisions117.6
85.4
118.4Contract liabilities214.2
287.7
239.9Lease liabilities1,074.0
1,235.1
1,096.5Loans and other liabilities 40.5
47.8
42.9Total current liabilities2,150.0
2,793.8
2,134.1Total liabilities6,749.6
7,527.8
6,982.5





Total equity and liabilities10,577.7
11,491.7
11,008.1  CONSOLIDATED INCOME STATEMENTS (Unaudited)
(U.S. dollars in millions, except per share data)
Three months ended
March 31
Year ended
December 31
2026
2025
2025





Income from voyages and related services1,396.5
2,006.6
6,904.2Cost of voyages and related services:




Operating expenses and cost of services(1,031.7)
(1,162.6)
(4,460.8)Depreciation(307.6)
(310.8)
(1,259.5)Impairment reversal of assets



137.0Gross profit 57.2
533.2
1,320.9





Other operating income25.4
12.5
43.4Other operating expenses(0.1)


(1.5)General and administrative expenses(96.2)
(79.0)
(336.3)Share of loss of associates (4.6)
(2.4)
(10.5)





Results from operating activities  (18.3)
464.3
1,016.0





Finance income32.3
40.0
133.1Finance expenses (112.2)
(123.8)
(490.6)





Net finance expenses(79.9)
(83.8)
(357.5)





Profit (loss) before income taxes(98.2)
380.5
658.5





Income taxes11.9
(84.4)
(177.0)





Profit (loss) for the period(86.3)
296.1
481.5





Attributable to:




Owners of the Company(86.0)
295.3
479.2Non-controlling interests     (0.3)
0.8
2.3Profit (loss) for the period(86.3)
296.1
481.5





Earnings (loss) per share (US$)




Basic earnings (loss) per 1 ordinary share(0.71)
2.45
3.98Diluted earnings (loss) per 1 ordinary share(0.71)
2.45
3.98





Weighted average number of shares for earnings (loss) per share calculation:




Basic120,477,221
120,439,282
120,453,671Diluted 120,477,221
120,508,654
120,515,854  CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)
(U.S. dollars in millions)
Three months ended
March 31
Year ended
December 31
2026
2025
2025





Cash flows from operating activities




Profit (loss) for the period(86.3)
296.1
481.5





Adjustments for:




Depreciation and amortization 318.0
315.9
1,286.1Impairment reversal



(137.0)Net finance expenses  79.9
83.8
357.5Share of losses and change in fair value of investees(15.4)
2.4
5.6Capital gain, net(4.8)
(11.9)
(37.6)Income taxes (11.9)
84.4
177.0Other non-cash items0.2
0.4
(0.1)






279.7
771.1
2,133.0





Change in inventories (38.8)
(5.3)
44.4Change in trade and other receivables(37.8)
181.8
262.3Change in trade and other payables, including contract liabilities   30.3
(126.2)
(267.1)Change in provisions and employee benefits7.6
1.4
35.6






(38.7)
51.7
75.2





Dividends received from associates1.2
1.0
1.9Interest received27.5
30.4
113.7Income taxes received (paid)(7.0)
0.5
(24.3)





Net cash generated from operating activities262.7
854.7
2,299.5





Cash flows from investing activities




Proceeds from sale of tangible assets, intangible assets, and interest in investees3.7
9.9
36.6Acquisition and capitalized expenditures of tangible assets, intangible assets and interest in investees(31.3)
(78.0)
(217.7)Disposal (acquisition) of investment instruments, net46.5
(13.2)
148.6Loans granted to investees(3.5)
(1.9)
(8.1)Change in other receivables 7.8
7.4
(67.5)Change in other investments (mainly deposits), net82.2
34.1
(25.2)Net cash generated from (used in) investing activities105.4
(41.7)
(133.3)





Cash flows from financing activities




Repayment of lease liabilities and borrowings (281.3)
(460.4)
(1,439.6)Dividend paid to non-controlling interests(0.4)
(0.2)
(3.8)Dividend paid to owners of the Company(106.1)


(515.6)Interest paid(110.6)
(121.7)
(474.3)Net cash used in financing activities(498.4)
(582.3)
(2,433.3)





Net change in cash and cash equivalents(130.3)
230.7
(267.1)Cash and cash equivalents at beginning of the period1,051.7
1,314.7
1,314.7Effect of exchange rate fluctuation on cash held0.2
0.7
4.1Cash and cash equivalents at the end of the period921.6
1,546.1
1,051.7  RECONCILIATION OF NET INCOME TO ADJUSTED EBIT*
(U.S. dollars in millions)
Three months ended
March 31
Year ended
December 31
2026
2025
2025





Net income (loss) (86)
296
481Financial expenses, net80
84
358Income taxes(12)
84
177Operating income (loss) (EBIT) (18)
464
1,016Capital loss (gain), beyond the ordinary course of business(1)
(2)
(3)Impairment reversal of assets



(137)Acquisition related expenses14



Expenses related to legal contingencies



9Adjusted EBIT(5)
463
885Adjusted EBIT margin0 %
23 %
13 %* The table above may contain slight summation differences due to rounding.  RECONCILIATION OF NET INCOME TO ADJUSTED EBITDA*
(U.S. dollars in millions)
Three months ended
March 31
Year ended
December 31
2026
2025
2025





Net income (loss)(86)
296
481Financial expenses, net80
84
358Income taxes(12)
84
177Depreciation and amortization318
316
1,286EBITDA300
780
2,302Capital loss (gain), beyond the ordinary course of business(1)
(2)
(3)Impairment reversal of assets



(137)Acquisition related expenses14



Expenses related to legal contingencies



9Adjusted EBITDA313
779
2,171Net income (loss) margin -6 %
15 %
7 %Adjusted EBITDA margin22 %
39 %
31 %* The table above may contain slight summation differences due to rounding.  RECONCILIATION OF NET CASH GENERATED FROM
OPERATING ACTIVITIES TO FREE CASH FLOW*
(U.S. dollars in millions)
Three months ended
March 31
Year ended
December 31
2026
2025
2025





Net cash generated from operating activities                   263
855
2,300Capital expenditures, net (28)
(68)
(280)Free cash flow235
787
2,020* The table above may contain slight summation differences due to rounding.                                    Logo - https://mma.prnewswire.com/media/1933864/ZIM_Logo.jpg  View original content:https://www.prnewswire.com/news-releases/zim-reports-financial-results-for-the-first-quarter-of-2026-302777484.htmlSOURCE Zim Integrated Shipping Services Ltd. Original: ZIM Reports Financial Results for the First Quarter of 2026

ZIM Updates on Withholding Tax Procedures on March 2026 Cash DividendMarch 19, 2026 7:00 AM
PR Newswire (US)

HAIFA, Israel, March 19, 2026 /PRNewswire/ -- ZIM Integrated Shipping Services Ltd. (NYSE: ZIM) ("ZIM" or the "Company"), a global container liner shipping company, hereby updates that in connection with the dividend distribution expected to take place on March 26, 2026, as previously announced by the Company on March 9, 2026 (the "Dividend"), the previously obtained tax ruling from the Israeli Tax Authority ("ITA") on tax withholding procedures relating to the payment of the Dividend to the Company's shareholders (the "Ruling"), as extended, shall apply.  As a result of the Ruling, certain shareholders of the Company ("Shareholders") may be eligible to a reduced Israeli withholding tax rate with respect to their share of this Dividend, in comparison to the generally applicable withholding tax rate (the "Reduced Withholding Tax Rate"), under certain terms and conditions as set forth below.The description provided below is not intended to constitute a complete analysis of withholding tax rate procedures relating to the distribution of the Dividend, nor does it address the actual tax liability of any of the Shareholders, but merely relates to the Israeli withholding tax procedures relating to the distribution of the Dividend. Other than the Dividend previously declared by the Company to be paid on March 26, 2026, there is no guarantee the Company will declare additional dividends in the future. In addition, pursuant to a merger agreement signed on February 16, 2026, between Hapag-Lloyd AG and the Company, the Company's ability to distribute dividends beyond regular dividends in accordance with its dividend policy is limited. For further details regarding the transaction with Hapag-Lloyd AG please see the Current Report on Form 6-K , filed by the Company with the US Securities and Exchange Commission on February 17, 2026.Shareholders are advised to consult their own tax and financial advisors concerning the tax consequences of each particular situation, as well as any tax consequences that may arise under the laws of any state, local, foreign or other taxing jurisdiction. For the avoidance of doubt, the Agent IBI Trust Management (whose information is provided below) has been retained by ZIM for the purpose of coordinating certain procedures relating to the Ruling, and it is NOT intended that the Agent will provide any tax advice to any of the Shareholders, who are encouraged to consult their own tax and financial advisors.Forms required to be submitted to the Agent in connection with the Ruling as described below are available in the following Link (the full link appears below, under the Agent's contact information), and can also be found on the Company's website here.Background On March 9, 2026, ZIM announced a dividend payment of $0.88 per ordinary share (approximately $106 million), to be paid to holders of ordinary shares as of March 20, 2026. Payment of the Dividend is expected to be made on March 26, 2026 (the "Payment Date").General Withholding Tax Treatment under Israeli LawAs set out in the Company's Annual Report on Form 20-F filed with the Commission on March 9, 2026, with respect to dividends sourced from regular earnings, under the Israeli Tax Ordinance and regulations issued under the Israeli Tax Ordinance (collectively, "ITO"), the current Israeli rate of withholding tax on dividends paid by an Israeli company is 30% for distributions to a "substantial shareholder" (in general, being someone who holds, directly or indirectly, by himself or together with others, at least 10% of one or more of the means of control in the company) and 25% with respect to distributions to all other holders of Ordinary Shares ("Withholding Tax"). Notwithstanding the foregoing, as a result of the Ruling and subject to its terms and conditions, certain Shareholders, both Israeli and non-Israeli, may be eligible to a reduced Israeli withholding tax rate on their share of this dividend distribution, in comparison to the generally applicable withholding tax rate described above, (the "Reduced Withholding Tax Rate"), under certain terms and conditions as set forth below.Summary of the Main Terms of the RulingThe following is a summary of some of the key terms of the Ruling. It is emphasized that the description below does not purport to exhaust all the terms and conditions included in the Ruling and is not a complete translation of the Ruling. In order to enjoy the Reduced Withholding Tax Rate, Shareholders must comply with all the terms of the Ruling, a copy of which in the Hebrew language as well as an unofficial non-binding English translation thereof can be obtained free of charge by email by approaching the Agent (as defined below) at the contact details provided below.On the Payment Date the Company will withhold 25% of the Dividend amount and will remit the tax amount to the Agent, to be handled by the Agent in accordance with the terms and conditions of the Ruling.The remaining 75% of the Dividend amount will be remitted by the Company to its transfer agent, Equiniti Trust Company, LLC, which will transfer the said amount to the Shareholders (including through brokers who hold in brokerage accounts ZIM shares on behalf of Shareholders).A Shareholder who is a resident of a country with which Israel has a tax treaty ("Treaty State") (based on a declaration to be provided by such Shareholder) and is the beneficial owner of the Dividend, may apply to the Agent requesting a Reduced Tax Withholding Rate. Such application must be received by the Agent between the Payment Date and May 7, 2026 (the "Change of Rate Period"). The eligibility for a reduced tax rate will be evaluated by the Agent in accordance with Israeli tax laws and any applicable treaties, and therefore there is no guarantee that the applicant shareholder will be eligible for a tax refund.A Shareholder who declared that he or she is a resident of a Treaty State and is the beneficial owner of the Dividend may apply to the Agent during the Change of Rate Period only (subject to complying with all the documentation requirements detailed below) requesting the receipt of the monetary difference between the tax amount remitted to the Agent (at a rate of 25%) and the amount represented by the withholding tax rate set forth in the tax treaty between Israel and such Treaty State or by the limited withholding tax rate applicable to such dividend payment under the ITO, to the extent applicable.A Shareholder who did not declare that it, he or she is a resident of a Treaty State and is the beneficial owner of the Dividend, may apply to the Agent during the Change of Rate Period only (subject to complying with all the documentation requirements detailed below) requesting the receipt of the monetary difference between the tax amount remitted to the Agent (at a rate of 25%) and the amount represented by the withholding tax rate applicable to such dividend payment under the ITO or by the limited withholding tax rate applicable to such dividend payment under the ITO, to the extent applicable.Any Shareholder who claims to be entitled to a Reduced Tax Withholding Rate in accordance with the foregoing, will be required to provide the Agent with all relevant documentation as detailed in the Ruling and the forms available in the following link, on no later than May 7, 2026 (the end of Change of Rate Period), including but not limited to, bank account details to which the dividend payment should be transferred, number of ZIM shares owned by the Shareholder in such account, identification document, and confirmation of residence for the tax year 2026 issued by the taxing authority of the state of tax residence.In addition to the foregoing, the Shareholder will provide a written declaration in the form annexed to this announcement which will include declarations as to the following: (i) the Shareholder's tax residence for the tax year 2026, (ii) the Shareholder's beneficial ownership of the dividend, (iii) the investment in ZIM shares has not been made through a permanent establishment in Israel, (iv) the holding of ZIM shares is made for the Shareholder's own account and not for the account of others, and (v) the payment will not be made to a permanent establishment of the Shareholder outside of the Shareholder's tax residence.A non-Israeli corporate Shareholder (excluding a Shareholder covered by section 9 below) that requests a Reduced Tax Withholding Rate, will also need to provide the Agent with its updated shareholders register as of March 20, 2026, and a statement confirming that more than 75% of its shareholders, directly or indirectly, are individuals of its state of residence for the tax year 2026.A publicly traded non-Israeli corporate Shareholder whose shares are traded on a stock market outside of Israel and is a resident of a Treaty State, or a direct or indirect subsidiary of such Shareholder, will also provide the Agent with a declaration that it is a resident of such Treaty State or another non-Israeli state for the tax year 2026, as applicable.An Israeli corporate Shareholder which is entitled to a Reduced Tax Withholding Rate (including an exemption from withholding tax at source), will be able to apply to the Agent no later than May 7, 2026, (the end of the Change of Rate Period) and enclose an applicable valid ITA issued certificate setting forth a Reduced Tax Withholding Rate or an exemption from withholding tax. In addition, such Shareholder will enclose its certificate of incorporation and all other documents required as set forth above, mutatis mutandis as requested by the Agent.The Agent is entitled to request from the Shareholders applying for a Reduced Tax Withholding Rate additional documents in its discretion insofar as they are required to establish the tax residence of the Shareholder or its entitlement to exemption and/or to a Reduced Tax Withholding Rate.Notwithstanding the foregoing, no refund of excess tax withholding shall be affected by the Agent with respect to any Shareholder holding more than 5% of the issued share capital of the Company, or whose entitlement to dividend from the Company pursuant to the Dividend exceeds $500,000, other than in accordance with a specific approval issued by the ITA.The transfer of the amounts withheld, excluding the amounts returned to the Shareholders, as aforementioned, shall be conducted by the Agent. Subject to receipt by the Agent of your required documentation, the Agent will return the amounts withheld to the Shareholders as detailed above to the account at which the dividend payment was made within 30 days from the date the amounts withheld are paid to the ITA.The Ruling is aimed to address solely the issue of tax withholding procedures and should not be construed as setting the actual tax liability of any Shareholder with respect to the Dividend or otherwise.Appointment of Israeli Tax Withholding AgentIn order to facilitate the implementation of the procedures set forth in the Ruling for the benefit of its Shareholders, the Company appointed IBI Trust Management to serve as a processing agent for the benefit of the Shareholders in connection with the distribution of the Dividend (the "Agent"). Contact information of the Agent is provided at the bottom of this announcement. We encourage you to contact the Agent if you need any clarifications in filling-in the forms required under the Ruling to obtain a Reduced Withholding Tax Rate, or if you have any questions concerning the process. Please note that the Agent will not provide any tax advice to any Shareholder, who should consult their own tax and financial advisors.In order to be eligible to benefit from a Reduced Withholding Tax Rate, Shareholders must provide the Agent with all documentation required under the Ruling not later than May 7, 2026. The relevant forms are included in the following link.If a Shareholder fails to provide the Agent with all the documentation required by May 7, 2026, the Agent will not be able to attend to such Shareholder's application and will not be able to return any amounts originally remitted on behalf of such Shareholder nor provide any confirmation of tax withholding to such a Shareholder, either in connection with the Ruling or in connection with any other tax filing by such Shareholder.ZIM's Agent Contact Information:
IBI Trust Management 
Tel No: +972-3-519-3896, +972-50-620-9410 
Email: ZimDividend@ibi.co.ilLink to forms: https://form.cellosign.co/public/djE6d2Y6MzlhOTE4M2MtYmU1My00MmNjLWFhMTktYjc5NGJmYTRjOTcxOlN0YXJ0RXZlbnRfMWl1OTBscQ==About ZIM Founded in Israel in 1945, ZIM (NYSE: ZIM) is a leading global container liner shipping company with operations in more than 90 countries, serving over 30,000 customers across more than 300 ports worldwide. ZIM leverages digital strategies and a commitment to ESG values to provide customers innovative seaborne transportation and logistics services and exceptional customer experience. ZIM's differentiated global-niche strategy, based on agile fleet management and deployment, covers major trade routes with a focus on select markets where the company holds competitive advantages. Additional information about ZIM is available at www.ZIM.com.ZIM Contacts Media:Avner Shats
ZIM Integrated Shipping Services Ltd.
+972-4-865-2520
media@zim.com   Investor Relations:Elana Holzman
ZIM Integrated Shipping Services Ltd.
+972-4-865-2300
holzman.elana @esculapio65-8438
lberman@igbir.com Logo: https://mma.prnewswire.com/media/1933864/ZIM_Logo.jpg



View original content:https://www.prnewswire.com/news-releases/zim-updates-on-withholding-tax-procedures-on-march-2026-cash-dividend-302718645.htmlSOURCE Zim Integrated Shipping Services Ltd.

Original: ZIM Updates on Withholding Tax Procedures on March 2026 Cash Dividend

Is that $35 offer still on the table? Should be a nice 25% premium for those who hold.

Nothing says slowing economy, like reduced shipping volumes and associated revenue. The markets will catch up with this economic indicator in 3-6 months.

ZIM Integrated Shipping tops Q4 estimates as revenue comes in above forecastsMarch 9, 2026 9:50 AM
IH Market News
ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) reported fourth-quarter results on Monday that surpassed analyst expectations, posting adjusted earnings per share of $0.32 compared with the consensus estimate of a $0.99 loss.Revenue for the quarter totaled $1.48 billion, slightly above the analyst forecast of $1.45 billion. However, sales were down 32% from $2.17 billion recorded in the fourth quarter of 2024.Despite the earnings beat, shares of the company slipped 0.04% in pre-market trading, indicating a limited reaction from investors.The year-over-year decline in revenue was largely driven by a 29% drop in average freight rates, which fell to $1,333 per twenty-foot equivalent unit (TEU), along with a 9% decrease in transported volumes to 898,000 TEUs.Net income for the quarter came in at $38 million, compared with $563 million in the same period a year earlier. The results included a $137 million non-cash impairment reversal.For the full year 2025, ZIM reported revenue of $6.90 billion, representing an 18% decline from the prior year. Net income for the year totaled $481 million, down from $2.15 billion in 2024. Adjusted EBITDA reached $2.17 billion with a margin of 31%, while adjusted EBIT totaled $885 million with a margin of 13%.“We achieved strong operational and financial results in 2025 with adjusted EBITDA and EBIT at the upper end of our guidance,” said CEO Eli Glickman.The company also declared a fourth-quarter dividend of $0.88 per share, bringing total dividends for 2025 to $1.99 per share, equivalent to roughly 50% of the company’s full-year net income.Separately, ZIM is preparing for a merger with Hapag-Lloyd, announced in February 2026, in a transaction valued at $35.00 per share in cash.ZIM Integrated Shipping stock price

Original: ZIM Integrated Shipping tops Q4 estimates as revenue comes in above forecasts

ZIM Reports Financial Results for the Fourth Quarter and the Full Year of 2025March 9, 2026 7:00 AM
PR Newswire (US)

Reported Full Year Revenues of $6.90 Billion, Net Income of $481 Million1, Adjusted EBITDA2 of $2.17 Billion and Adjusted EBIT2 of $885 Million3Generated Full Year Adjusted EBITDA and Adjusted EBIT Margins2 of 31% and 13%, Respectively Declared Q4 2025 Dividend of Approximately $106 Million, or $0.88 per Share, Representing, Together with Previous Dividends Distributed on Account of 2025 Results, Approximately 50% of the Full Year 2025 Net Income Dividends to Total Approximately $5.8 Billion Over Last Five Years—More Than 25 Times the Amount Raised at IPO in January 2021HAIFA, Israel, March 9, 2026 /PRNewswire/ -- ZIM Integrated Shipping Services Ltd. (NYSE: ZIM) ("ZIM" or the "Company"), a global container liner shipping company, announced today its consolidated results for the three and twelve months ended December 31, 2025.
Fourth Quarter and Full Year 2025 HighlightsNet income for the fourth quarter was $38 million1 (compared to a net income of $563 million in the fourth quarter of 2024), or diluted earnings per share of $0.324 (compared to diluted earnings per share of $4.66 in the fourth quarter of 2024); net profit for the full year was $481 million1 (compared to a net income of $2.15 billion for the full year of 2024).Adjusted EBITDA for the fourth quarter was $327 million, a year-over-year decrease of 66%; Adjusted EBITDA for the full year was $2.17 billion, a year-over-year decrease of 41%.Operating income (EBIT) for the fourth quarter was $143 million, compared to operating income of $658 million in the fourth quarter of 2024. Operating income for the full year of 2025 was $1.02 billion, compared to operating income of $2.53 billion for the full year of 2024.Adjusted EBIT for the fourth quarter was $13 million, compared to Adjusted EBIT of $658 million in the fourth quarter of 2024. Adjusted EBIT for the full year of 2025 was $885 million, compared to Adjusted EBIT of $2.55 billion for the full year of 2024.Revenues for the fourth quarter were $1.48 billion, a year-over-year decrease of 32%; revenues for the full year were $6.90 billion, a year-over-year decrease of 18%.Carried volume in the fourth quarter was 898 thousand TEUs, a year-over-year decrease of 9%; carried volume in the full year was 3.7 million TEUs, a year-over-year decrease of 2%.Average freight rate per TEU in the fourth quarter was $1,333, a year-over-year decrease of 29%; average freight rate per TEU in the full year was $1,551, a year-over-year decrease of 18%.Net leverage ratio2 of 1.3x as of December 31, 2025, compared to 0.8x as of December 31, 2024; net debt2 of $2.92 billion as of December 31, 2025, compared to net debt of $2.88 billion as of December 31, 2024.Eli Glickman, ZIM President & CEO, stated, "We achieved strong operational and financial results in 2025 with adjusted EBITDA and EBIT at the upper end of our guidance. This enabled a Q4 2025 dividend of $106 million, or $0.88 per share, raising the total dividends declared on account of 2025 earnings to $240 million, or $1.99 per share. Since our IPO in January 2021, we have distributed an extraordinary $5.8 billion in dividends to shareholders, more than 25 times the amount raised at the Company's IPO, or total dividends of $48.42 per share since the IPO. Upon completion of the proposed merger with Hapag-Lloyd, total cash to be returned to shareholders will reach approximately $10 billion.""This exceptional return of capital to shareholders was driven by strategic execution and unwavering commitment to innovation and operational excellence. Specifically, we successfully implemented a full-scale fleet modernization program, were among the earliest adopters of LNG technology in our industry and built a differentiated "global niche" commercial approach that enabled ZIM to establish a competitive advantage in select trades and quickly identify and capture growth opportunities. At the same time, we have invested in advanced digital solutions, including BI and AI tools, to enhance operational performance and customer experience.""Building on the foundation laid by our successful renewal program implemented in 2023 and 2024--which established ZIM's fleet as one of the most modern and environmentally advanced in the industry and significantly improved our cost structure--we continued to be proactive to further strengthen our core capacity. Through a series of new charter agreements concluded between Q4 2024 and Q4 2025, we have ensured our operated capacity remains modern and competitive, securing an additional 36 newbuild containerships that range in size from 3,000 to 12,000 TEU, with total capacity of 250 thousand TEUs and deliveries expected to commence in the second half of 2026.""At the heart of our success are our exceptional people. I am extremely proud of our achievements, and I thank our entire workforce for their professionalism and dedication to ZIM. Amid the ongoing hostilities with Iran, our top priority is the safety and well-being of our employees. Despite these challenging circumstances, their resilience is admirable as we work together to maintain regular operations and to reliably serve our customers."Mr. Glickman concluded, "Looking ahead to 2026, we anticipate continued pressure on freight rates; yet we remain confident in the robustness of our business. With more modern, cost-effective capacity, coupled with our agile fleet deployment strategy, we are well positioned to respond quickly to evolving market conditions. Pending completion of the transaction with Hapag-Lloyd, which remains subject to various regulatory approvals, including the approval of the Israeli Government as the holder of the "Golden Share," we will operate with discipline as always and remain committed to the strategy that has made ZIM an innovative leader in seaborne transportation."Summary of Key Financial and Operational Results
Q4-25Q4-24FY-25FY-24Carried volume (TEU in thousands)......... 8989823,6633,751Average freight rate ($/TEU).................... 1,3331,8861,5511,888Total revenues ($ in millions).................... 1,4852,1686,9048,427Operating income (EBIT) ($ in millions)...1436581,0162,527Profit before income tax ($ in millions)..... 566016582,205Net income ($ in millions)......................... 385634812,154Adjusted EBITDA ($ in millions)............... 3279672,1713,692Adjusted EBIT ($ in millions).................... 136588852,549Net income margin (%)............................ 326726Adjusted EBITDA margin (%)................... 22453144Adjusted EBIT margin (%)........................ 1301330Diluted earnings per share ($).................. 0.324.663.9817.82Net cash generated from operating
activities ($ in millions).............................. 3751,1522,3003,753Free cash flow2 ($ in millions)................... 2321,0872,0203,557


DEC-31-
25DEC-31-
24Net debt ($ in millions).............................. 

2,9252,876 Financial and Operating Results for the Fourth Quarter Ended December 31, 2025Total revenues were $1.48 billion for the fourth quarter of 2025, compared to $2.17 billion for the fourth quarter of 2024, mainly driven by a decrease in freight rates as well as carried volume.ZIM carried 898 thousand TEUs in the fourth quarter of 2025, compared to 982 thousand TEUs in the fourth quarter of 2024. The average freight rate per TEU was $1,333 for the fourth quarter of 2025, compared to $1,886 for the fourth quarter of 2024.Operating income (EBIT) for the fourth quarter of 2025 was $143 million, compared to operating income of $658 million for the fourth quarter of 2024. The decrease was driven primarily by the above-mentioned decrease in revenues, partially offset by the non-cash impairment reversal recorded in the fourth quarter of 2025.Net income for the fourth quarter of 2025 was $38 million, compared to net income of $563 million for the fourth quarter of 2024, driven by the same factors mentioned above affecting operating income.Adjusted EBITDA for the fourth quarter of 2025 was $327 million, compared to $967 million for the fourth quarter of 2024. Adjusted EBIT was $13 million for the fourth quarter of 2025, compared to Adjusted EBIT of $658 million for the fourth quarter of 2024. Adjusted EBITDA and Adjusted EBIT margins for the fourth quarter of 2025 were 22% and 1%, respectively. This compares to 45% and 30% for the fourth quarter of 2024, respectively.Net cash generated from operating activities was $375 million for the fourth quarter of 2025, compared to $1.15 billion for the fourth quarter of 2024.Financial and Operating Results for the Full Year Ended December 31, 2025Total revenues were $6.90 billion for the full year of 2025, compared to $8.43 billion for the full year of 2024, driven primarily by a decrease in freight rates and a modest decline in carried volume.ZIM carried 3,663 thousand TEUs in the full year of 2025, compared to 3,751 thousand TEUs in the full year of 2024. The average freight rate per TEU was $1,551 for the full year of 2025, compared to $1,888 for the full year of 2024.Operating income (EBIT) for the full year of 2025 was $1.02 billion, compared to operating income of $2.53 billion for the full year of 2024. The decrease was primarily driven by the above-mentioned decrease in revenues, partially offset by the non-cash impairment reversal recorded in the fourth quarter of 2025.Net income for the full year of 2025 was $481 million, compared to net income of $2.15 billion for the full year of 2024, driven by the same factors mentioned above affecting operating income.Adjusted EBITDA was $2.17 billion for the full year of 2025, compared to $3.69 billion for the full year of 2024. Adjusted EBIT was $885 million for the full year of 2025, compared to $2.55 billion for the full year of 2024. Adjusted EBITDA and Adjusted EBIT margins for the full year of 2025 were 31% and 13%, respectively. This compares to Adjusted EBITDA and Adjusted EBIT margins of 44% and 30% for the full year of 2024, respectively.Net cash generated from operating activities was $2.3 billion for the full year of 2025, compared to $3.75 billion for the full year of 2024.Liquidity, Cash Flows and Capital AllocationZIM's total cash position (which includes cash and cash equivalents and investments in bank deposits and other investment instruments) decreased by $338 million from $3.14 billion as of December 31, 2024 to $2.80 billion as of December 31, 2025. Capital expenditures totaled $218 million for the year ended December 31, 2025, compared to $214 million for the year ended December 31, 2024. Net debt position as of December 31, 2025, was $2.92 billion compared to a net debt position of $2.88 billion as of December 31, 2024, an increase of $49 million. ZIM's net leverage ratio as of December 31, 2025, was 1.3x, compared to 0.8x as of December 31, 2024.Chartering Agreements and Fleet Update During the second half of 2025, the Company concluded a series of charter agreements for 22 newbuild vessels. This includes two containerships with capacity of 12,000 TEU and 20 ships with capacity ranging from 3,000 to 5,000 TEU. All vessels are scheduled for delivery between 2027 and 2028, with charter periods of up to five years, in addition to optional extensions. Previously, ZIM concluded charter agreements for the long-term charter of ten 11,500 TEU dual-fuel LNG vessels with expected delivery between 2027 and 2028 and four 8,000 TEU vessels with charter durations between 5 to 7.5 years and expected delivery between the second half of 2026 and the first half of 2027.  The Company determined that these charter agreements were critical to secure access to the capacity required to support its network, maintain its competitive cost structure and enable profitable growth.ZIM currently operates 115 containerships with a total capacity of 707 thousand TEUs, as well as 13 car carriers. In addition, the Company has 13 containerships scheduled for charter expiration in 2026, representing an aggregate capacity of 46,716 TEU. In 2027, 17 containerships are scheduled for charter expiration representing an aggregate capacity of 33,874 TEU. Volume Breakdown by Geographic Trade Zone (K TEU)*
Three months ended December 31
Year ended December 31
2025
2024
2025
2024Pacific425
412
1,577
1,604Cross-Suez55
86
287
332Atlantic112
138
495
555Intra-Asia191
204
778
746Latin America115
142
526
514Total898
982
3,663
3,751* The table above may contain slight summation differences due to rounding. Fourth Quarter 2025 DividendIn accordance with the Company's dividend policy, the Company's Board of Directors declared a regular cash dividend of approximately $106 million, or $0.88 per ordinary share. Together with prior dividend distributions made in respect to the year of 2025, dividend distributions for the year will total $240 million, or $1.99 per ordinary share, reflecting approximately 50% of 2025 net income. The dividend will be paid on March 26, 2026, to holders of record of ordinary ZIM shares as of March 20, 2026.All future dividends are subject to the discretion of Company's Board of Directors and to the restrictions provided by Israeli law. In addition, distribution of special dividends is restricted under the merger agreement between the Company and Hapag-Lloyd.Transaction with Hapag-LloydOn February 16, 2026, ZIM announced that it entered into a merger agreement with Hapag-Lloyd, under which Hapag-Lloyd will acquire ZIM for $35.00 per share in cash. The transaction has been unanimously approved by ZIM Board of Directors and is expected to close by late 2026, subject to approval by ZIM shareholders and upon satisfaction of customary closing conditions, including approvals by regulatory authorities and the State of Israel pursuant to the requirements of the Special State Share. Until the closing of the transaction, Hapag-Lloyd and ZIM will remain separate independent companies and ZIM will continue to operate in the ordinary course.In connection with the transaction, Hapag-Lloyd has entered into a binding memorandum of understanding with FIMI Opportunity Funds (FIMI), an Israeli-based private equity fund, under which the Special State Share held by the State of Israel in ZIM is intended to be transferred to a newly created subsidiary of FIMI, subject to approval by the State of Israel. FIMI will create a new container-network operator and liner-service provider, "New ZIM", with owned tonnage, incorporated in Israel. The new business, operating under the ZIM trademark, will be owned and run by FIMI, supported by a long-term strategic partnership with Hapag-Lloyd, which includes commercial support for the initial period to allow structured commencement of operations.Full-Year 2026 Guidance and Conference Call UpdateIn light of the proposed transaction with Hapag-Lloyd, ZIM will not be providing full-year 2026 financial guidance and will not host a conference call in connection with its fourth quarter and full year 2025 results.Annual Report on Form 20-F for 2025In accordance with Section 203.01 of the New York Stock Exchange Listed Company Manual, the Company's Annual Report filed on March 9, 2026, with the U.S. Securities and Exchange Commission on Form 20-F (including its audited 2025 financial statements) is available on the Company's website at www.zim.com. Hard copies of the Annual Report will be provided free of charge upon request, from the Company, as follows: ZIM Integrated Shipping Services Ltd., 9 Andrei Sakharov Street, P.O. Box 15067, Matam, Haifa 3190500, Israel, Attn: Head of Investor Relations, Finance Function, Email: www.ZIM.com.Forward-Looking Statements The following information contains, or may be deemed to contain forward-looking statements (as defined in the U.S. Private Securities Litigation Reform Act of 1995). In some cases, you can identify these statements by forward-looking words such as "may," "might," "will," "should," "expect," "plan," "anticipate," "believe," "estimate," "predict," "potential" or "continue," the negative of these terms and other comparable terminology. These forward-looking statements, which are subject to risks, uncertainties and assumptions about the Company, may include statement regarding chartering agreements, statements relating to the timing and closing of the merger agreement with Hapag-Lloyd, the Company's anticipated growth strategies and anticipated trends in its business. These statements are only predictions based on the Company's current expectations and projections about future events or results. There are important factors that could cause the Company's actual results, level of activity, performance or achievements to differ materially from the results, level of activity, performance or achievements expressed or implied by the forward-looking statements. Factors that could cause such differences include, but are not limited to: our expectations regarding general market conditions as a result of the current geopolitical instability, developments and further escalation of events, including, but not limited to, risks and uncertainties relating to outcome of the merger agreement with Hapag-Lloyd, the current military conflict between Israel and the U.S. against Iran and some of its proxies, the Houthi attacks against vessels in the Red Sea, the war between Israel and Hamas, Iran and Iranian-backed proxies, the political and military instability in the Middle East and the war between Russia and Ukraine; our expectations regarding general market conditions as a result of global economic trends, including potential rising inflation and interest rates as a result of geopolitical and other events; our expectations regarding trends related to the global container shipping industry, including with respect to fluctuations in vessel and container supply, industry consolidation, demand for containerized shipping services, bunker and alternative fuel prices and supply, charter and freights rates, container values and other factors affecting supply and demand; our plans regarding our business strategy, areas of possible expansion and expected capital spending or operating expenses; our ability to adequately respond to political, economic and military instability in Israel and the Middle East (particularly as a result of the Israel-Hamas war and the Israel-Hezbollah and Israel-Iran armed conflicts), and our ability to maintain business continuity as an Israeli-incorporated company in times of emergency; our ability to effectively handle cyber-security threats and recover from cyber-security incidents, including in connection with the war between Israel and Iran and Iranian-backed proxies; our anticipated ability to obtain additional financing in the future to fund expenditures; our expectation of modifications with respect to our and other shipping companies' operating fleet and lines, including the utilization of larger vessels within certain trade zones and modifications made in light of environmental regulations; the expected benefits of our cooperation agreements and strategic partnerships; formation of new alliances among global carriers, changes in and disintegration of existing alliances and collaborations, including alliances and collaborations to which we are not a party to; our anticipated insurance costs; our expectations regarding the availability of crew; our expectations regarding our environmental and regulatory conditions, including extreme weather events (such as the drought conditions in the Panama Canal), changes in laws and regulations or actions taken by regulatory authorities, and the expected effect of such regulations; our expectations regarding potential liability from current or future litigation; our plans regarding hedging activities; our ability to pay dividends in accordance with our dividend policy; our expectations regarding our competition and ability to compete effectively. and other risks and uncertainties detailed from time to time in the Company's filings with the U.S. Securities and Exchange Commission (SEC), including under the caption "Risk Factors" in its 2025 Annual Report filed with the SEC on March 9, 2026. Although the Company believes the expectations reflected in the forward-looking statements contained herein are reasonable, it cannot guarantee future results, level of activity, performance or achievements. Moreover, neither the Company nor any other person assumes responsibility for the accuracy and completeness of any of these forward-looking statements. The Company assumes no duty to update any of these forward-looking statements after the date hereof to conform its prior statements to actual results or revised expectations, except as otherwise required by law.The Company prepares its financial statements in accordance with IFRS Accounting Standards (IFRSs), as issued by the International Accounting Standards Board (IASB).Use of Non-IFRS Financial MeasuresThe Company presents non-IFRS measures as additional performance measures as the Company believes that it enables the comparison of operating performance between periods on a consistent basis. These measures should not be considered in isolation, or as a substitute for operating income, any other performance measures, or cash flow data, which were prepared in accordance with IFRS as measures of profitability or liquidity. Please note that Adjusted EBITDA does not take into account debt service requirements or other commitments, as well as capital expenditures, and therefore, does not necessarily indicate the amounts that may be available for the Company's use. In addition, the non-IFRS financial measures presented by the Company may not be comparable to similarly titled measures reported by other companies due to differences in the way these measures are calculated.Adjusted EBITDA is a non-IFRS financial measure which we define as net income (loss) adjusted to exclude financial expenses (income), net, income taxes, depreciation and amortization in order to reach EBITDA, and further adjusted, as applicable, to exclude impairment of assets (or the reversal of which), non-cash charter hire expenses, capital gains (losses) beyond the ordinary course of business and expenses related to legal contingencies.Adjusted EBIT is a non-IFRS financial measure which we define as net income (loss) adjusted to exclude financial expenses (income), net and income taxes, in order to reach our results from operating activities, or EBIT, and further adjusted, as applicable, to exclude impairment of assets (or the reversal of which), non-cash charter hire expenses, capital gains (losses) beyond the ordinary course of business and expenses related to legal contingencies.Free cash flow is a non-IFRS financial measure which we define as net cash generated from operating activities minus capital expenditures, net.Net debt is a non-IFRS financial measure which we define as face value of short- and long-term debt, minus cash and cash equivalents, bank deposits and other investment instruments.  We refer to this measure as net cash when cash and cash equivalents, bank deposits and other investment instruments exceed the face value of short- and long-term debt.Net leverage ratio is a non-IFRS financial measure which we define as net debt (see above) divided by Adjusted EBITDA for the last twelve-month period. When our net debt is less than zero, we report the net leverage ratio as zero.See the reconciliation of net income to Adjusted EBIT and Adjusted EBITDA and net cash generated from operating activities to free cash flow in the tables provided below.1 Includes a non-cash impairment reversal totaling $108 million ($137 million, pre-tax) recorded in Q4 2025. See Note 7 to the Company's Financial Statements for additional information regarding the impairment analysis and results.
2 See disclosure regarding "Use of Non-IFRS Financial Measures."
3 Operating income (EBIT) for the full year was 1.02 billion. A reconciliation to Adjusted EBIT is provided in the tables below.
4 The number of shares used to calculate the diluted earnings per share is 120,515,714. The number of outstanding shares as of December 31, 2025 was 120,465,908.  Investor Relations:Elana Holzman
ZIM Integrated Shipping Services Ltd.
+972-4-865-2300
holzman.elana @esculapio65-8438
lberman@igbir.comMedia:Avner Shats
ZIM Integrated Shipping Services Ltd.
+972-4-865-2520
media@zim.com  CONSOLIDATED BALANCE SHEETU.S. dollars in millions)
December 31
2025
2024Assets


Vessels 5,801.7
5,733.0Containers and handling equipment 1,102.1
1,013.3Other tangible assets 137.8
97.7Intangible assets109.4
109.8Investments in associates  28.6
25.4Other investments 1,051.7
1,080.9Other receivables 137.0
61.0Deferred tax assets 9.2
7.5Total non-current assets8,377.5
8,128.6



Inventories167.8
212.2Trade and other receivables676.0
933.6Other investments 735.1
800.4Cash and cash equivalents1,051.7
1,314.7Total current assets2,630.6
3,260.9Total assets11,008.1
11,389.5



Equity


Share capital and reserves2,051.4
2,032.7Retained earnings1,969.5
2,004.2Equity attributable to owners of the Company4,020.9
4,036.9Non-controlling interests4.7
5.8Total equity4,025.6
4,042.7



Liabilities


Lease liabilities4,551.6
4,600.6Loans and other liabilities 47.2
59.9Employee benefits63.4
47.5Deferred tax liabilities186.2
27.6Total non-current liabilities4,848.4
4,735.6



Trade and other payables636.4
736.2Provisions118.4
96.6Contract liabilities239.9
408.9Lease liabilities1,096.5
1,321.7Loans and other liabilities 42.9
47.8Total current liabilities2,134.1
2,611.2Total liabilities6,982.5
7,346.8



Total equity and liabilities11,008.1
11,389.5  CONSOLIDATED INCOME STATEMENTS (Unaudited)(U.S. dollars in millions, except per share data)
Three months ended
December 31
Year ended
December 31
2025
2024
2025
2024







Income from voyages and related services1,484.7
2,167.6
6,904.2
8,427.4Cost of voyages and related services:






Operating expenses and cost of services(1,086.8)
(1,131.3)
(4,460.8)
(4,513.2)Depreciation(306.3)
(305.3)
(1,259.5)
(1,130.2)Impairment reversal of assets137.0


137.0

Gross profit 228.6
731.0
1,320.9
2,784.0







Other operating income5.7
13.7
43.4
46.6Other operating expenses(1.3)
0.9
(1.5)
(0.8)General and administrative expenses(88.4)
(86.4)
(336.3)
(296.1)Share of loss of associates (1.5)
(1.6)
(10.5)
(6.4)







Results from operating activities  143.1
657.6
1,016.0
2,527.3







Finance income29.1
68.2
133.1
149.2Finance expenses (115.8)
(125.0)
(490.6)
(471.5)







Net finance expenses(86.7)
(56.8)
(357.5)
(322.3)







Profit before income taxes56.4
600.8
658.5
2,205.0







Income taxes(18.1)
(38.1)
(177.0)
(51.2)







Profit for the year38.3
562.7
481.5
2,153.8







Attributable to:






Owners of the Company38.1
561.5
479.2
2,147.7Non-controlling interests     0.2
1.2
2.3
6.1Profit for the year38.3
562.7
481.5
2,153.8







Earnings per share (US$)






Basic earnings per 1 ordinary share0.32
4.66
3.98
17.84Diluted earnings per 1 ordinary share0.32
4.66
3.98
17.82







Weighted average number of shares
for earnings per share calculation:






Basic120,460,114
120,407,359
120,453,671
120,357,315Diluted 120,515,714
120,499,400
120,515,854
120,492,425  CONSOLIDATED STATEMENTS OF CASH FLOWS(U.S. dollars in millions)
Year ended December 31
2025
2024Cash flows from operating activities


Profit for the year481.5
2,153.8



Adjustments for:


Depreciation and amortization 1,286.1
1,142.5Impairment reversal(137.0)

Net finance expenses  357.5
342.4Share of losses and change in fair value of investees5.6
6.4Capital gains, net(37.6)
(43.9)Income taxes 177.0
51.2Other non-cash items(0.1)
10.9
2,133.0
3,663.3



Change in inventories 44.4
(32.9)Change in trade and other receivables 262.3
(352.9)Change in trade and other payables including contract liabilities(267.1)
357.8Change in provisions and employee benefits35.6
35.4
75.2
7.4



Dividends received from associates 1.9
3.1Interest received113.7
97.3Income taxes paid(24.3)
(18.4)



Net cash generated from operating activities2,299.5
3,752.7



Cash flows from investing activities


Proceeds from sale of tangible assets, intangible assets and interest
in investees36.6
18.7Acquisition and capitalized expenditures of tangible assets, intangible
assets and interest in investees(217.7)
(214.1)Disposal of investment instruments, net148.6
85.8Loans granted to investees, net(8.1)
(6.1)Change in other receivables, net (67.5)
31.6Change in other investments (mainly deposits), net(25.2)
(139.1)Net cash used in investing activities(133.3)
(223.2)Cash flows from financing activities


Repayment of lease liabilities and borrowings(1,439.6)
(2,082.6)Interest paid (474.3)
(465.6)Dividend paid to owners of the company(515.6)
(579.2)Dividend paid to non-controlling interests(3.8)
(4.0)Net cash used in financing activities(2,433.3)
(3,131.4)



Net change in cash and cash equivalents(267.1)
398.1Cash and cash equivalents at beginning of the year 1,314.7
921.5Effect of exchange rate fluctuation on cash held4.1
(4.9)Cash and cash equivalents at the end of the year1,051.7
1,314.7  RECONCILIATION OF NET INCOME TO ADJUSTED EBIT*(U.S. dollars in millions)
Three months ended
December 31
Year ended
December 31
2025
2024
2025
2024







Net income 38
563
481
2,154Financial expenses, net87
57
358
322Income taxes18
38
177
51Operating income (EBIT) 143
658
1,016
2,527Capital loss (gain), beyond the ordinary
course of business

(1)
(3)
(2)Impairment reversal of assets(137)


(137)

Expenses related to legal contingencies 7
1
9
24Adjusted EBIT13
658
885
2,549Adjusted EBIT margin1 %
30 %
13 %
30 %* The table above may contain slight summation differences due to rounding.  RECONCILIATION OF NET INCOME TO ADJUSTED EBITDA*(U.S. dollars in millions)
Three months ended
December 31
Year ended
December 31
2025
2024
2025
2024







Net income 38
563
481
2,154Financial expenses, net87
57
358
322Income taxes18
38
177
51Depreciation and amortization314
309
1,286
1,143EBITDA458
967
2,302
3,670Capital loss (gain), beyond the ordinary
course of business

(1)
(3)
(2)Impairment reversal of assets(137)


(137)

Expenses related to legal contingencies7
1
9
24Adjusted EBITDA327
967
2,171
3,692Net income margin 3 %
26 %
7 %
26 %Adjusted EBITDA margin22 %
45 %
31 %
44 %* The table above may contain slight summation differences due to rounding.  RECONCILIATION OF NET CASH GENERATED FROM
OPERATING ACTIVITIES TO FREE CASH FLOW*(U.S. dollars in millions)
Three months ended
December 31
Year ended
December 31
2025
2024
2025
2024







Net cash generated from operating
activities375
1,152
2,300
3,753Capital expenditures, net (143)
(65)
(280)
(196)Free cash flow232
1,087
2,020
3,557* The table above may contain slight summation differences due to rounding. Logo - https://mma.prnewswire.com/media/1933864/ZIM_Logo.jpg



View original content:https://www.prnewswire.com/news-releases/zim-reports-financial-results-for-the-fourth-quarter-and-the-full-year-of-2025-302708074.htmlSOURCE Zim Integrated Shipping Services Ltd.

Original: ZIM Reports Financial Results for the Fourth Quarter and the Full Year of 2025

This deal was announced, prior to the non-war on Iran. Will they try to back out, considering all of the risks to shipping channels?

ZIM to Release Fourth Quarter and Full Year 2025 Results on Monday, March 9, 2026March 3, 2026 8:00 AM
PR Newswire (US)

HAIFA, Israel, March 3, 2026 /PRNewswire/ -- ZIM Integrated Shipping Services Ltd. (NYSE: ZIM) announced today that the Company will release its fourth quarter and full year 2025 financial results on Monday, March 9, 2026, before the U.S. financial markets open.  In light of the pending merger transaction with Hapag-Lloyd announced by the Company on February 17, 2026, the Company will not be holding a conference call or providing financial guidance.About ZIMFounded in Israel in 1945, ZIM (NYSE: ZIM) is a leading global container liner shipping company with established operations in more than 90 countries serving approximately 33,000 customers in over 300 ports worldwide. ZIM leverages digital strategies and a commitment to ESG values to provide customers innovative seaborne transportation and logistics services and exceptional customer experience. ZIM's differentiated global-niche strategy, based on agile fleet management and deployment, covers major trade routes with a focus on select markets where the company holds competitive advantages. Additional information about ZIM is available at www.ZIM.com.ZIM ContactsMedia:
Avner Shats
ZIM Integrated Shipping Services Ltd.
+972-4-865-2520
media@zim.com Investor Relations:
Elana Holzman
ZIM Integrated Shipping Services Ltd.
+972-4-865-2300
holzman.elana @esculapio65-8438
lberman@igbir.com Logo: https://mma.prnewswire.com/media/1933864/ZIM_Logo.jpg



View original content:https://www.prnewswire.com/news-releases/zim-to-release-fourth-quarter-and-full-year-2025-results-on-monday-march-9-2026-302702417.htmlSOURCE ZIM Integrated Shipping Services Ltd.

Original: ZIM to Release Fourth Quarter and Full Year 2025 Results on Monday, March 9, 2026

ZIM surges 34% on $4.2 billion all-cash takeover by Hapag-LloydFebruary 17, 2026 9:42 AM
IH Market News
ZIM Integrated Shipping Services (NYSE:ZIM) soared 33.6% in premarket trading Tuesday after agreeing to a $35-per-share cash acquisition by Hapag-Lloyd, valuing the Israeli carrier at approximately $4.2 billion.The agreed price marks a 58% premium to ZIM’s closing level on February 13, 2026, and a 126% premium to the unaffected share price of $15.50 recorded on August 8, 2025, before takeover speculation surfaced.ZIM’s board unanimously approved the transaction, which will bolster Hapag-Lloyd’s standing as the world’s fifth-largest container shipping group. Following completion, the combined company is expected to operate more than 400 vessels with capacity exceeding 3 million TEU and forecast annual volumes above 18 million TEU by 2027.Under the terms of the deal, FIMI Opportunity Funds will establish a separate container shipping company, to be known as “New ZIM.” The new entity will manage 16 vessels focused on major global trade lanes serving Israel, benefiting from commercial backing by Hapag-Lloyd and access to the Gemini network.“I am incredibly proud of the strategic transformation we have executed at ZIM over recent years, which has generated exceptional value for our shareholders,” said Eli Glickman, ZIM’s President and CEO.The structure of the transaction also addresses continuity of shipping services to Israel through the transfer of ZIM’s Special State Share to a newly formed FIMI subsidiary, subject to Israeli government approval.Since its IPO in January 2021, ZIM has returned roughly $5.7 billion to investors in dividends. Upon closing of the deal, cumulative capital returned to shareholders is expected to total around $10 billion.The acquisition is targeted to complete by the end of 2026, pending shareholder consent and customary regulatory approvals.ZIM Integrated Shipping stock price

Original: ZIM surges 34% on $4.2 billion all-cash takeover by Hapag-Lloyd

If the price spikes over $35 offer, better make the sale. Otherwise you are waiting until late 2026. Really, how likely is it that shareholders will puah for a higher offer price?

ZIM to be Acquired by Hapag-Lloyd for $35.00 per Share in Cash at Aggregate Cash Consideration of Approximately $4.2 Billion; New Israeli Company, "New ZIM", to Acquire Portion of ZIM's BusinessFebruary 16, 2026 9:21 AM
PR Newswire (US)

Represents 58% Premium to ZIM's Prior-Day Closing Stock Price and 126% Premium to ZIM's Unaffected Stock PriceCombined Company Will Increase its Service Offerings to Customers Through an Expanded Global Network on Key Transpacific, Intra Asia, Atlantic, Latin America and East Mediterranean TradesFIMI Opportunity Funds Will Form "New ZIM" with 16 Vessels Securely Serving Main Global Trade Routes into Israel"New ZIM" Will Receive Commercial Support from Hapag-Lloyd and Will Have Access to Gemini NetworkTransaction Expected to Close by Late 2026HAIFA, Israel, Feb. 16, 2026 /PRNewswire/ -- ZIM Integrated Shipping Services Ltd. (NYSE: ZIM) ("ZIM" or the "Company") today announced that it has entered into a merger agreement, under which Hapag-Lloyd will acquire ZIM for $35.00 per share in cash. The total transaction represents an equity value of approximately $4.2 billion, and the price per share of $35.00 represents a 58% premium to ZIM's stock price on February 13, 2026, a 90% premium to ZIM's 90-day WVAP and a 126% premium to ZIM's unaffected stock price of $15.50 on August 8, 2025 prior to market speculation.
Strategic BenefitsThe combination of the two carriers further strengthens ZIM's global market position and secures Hapag-Lloyd's status as the fifth-largest container shipping company worldwide. The transaction creates compelling benefits for ZIM stakeholders, including:Significant premium cash value for shareholdersEnhanced capabilities with a large, modern fleet of over 400 vessels, capacity exceeding 3 million TEU, and an annual cargo volume of more than 18 million TEU in 2027Greater customer offerings via an expanded global network on Transpacific, Intra Asia, Atlantic, Latin America and East Mediterranean trades, complemented by Hapag-Lloyd's participation in the Gemini networkShared commitment to long-term customer relationships underpinned by dependable, high-quality serviceFIMI's newly formed Israeli liner company, "New ZIM", with a fleet of 16 vessels and a focus on directly connecting Israel to major ports in the EU, US, Mediterranean Sea and Black Sea will have access to Hapag-Lloyd's Gemini networkPartnership with FIMI to assume Special State Share obligations with clear objective to provide continued secure liner shipping service to Israel"New ZIM" will have commercial support from Hapag-LloydHapag-Lloyd expressed its intention to maintain a significant business presence in Israel, providing for long-term employment of ZIM employees"I am incredibly proud of the strategic transformation we have executed at ZIM over recent years, which has generated exceptional value for our shareholders," said Eli Glickman, ZIM's President and CEO. "Since I joined the Company in 2017, ZIM has progressed from a position of negative equity to become an industry leader with strong financial and operational performance. Since our IPO in January 2021, we have distributed an extraordinary $5.7 billion in dividends to shareholders. Upon completion of this transaction, total capital returned will be approximately $10 billion, representing more than five times the Company's initial market value five years ago, or approximately 45 times the capital raised at the IPO."Glickman added, "The professionalism and dedication of the ZIM team have been fundamental to this success. Notable milestones in our journey include the modernization of our fleet, which has grown to include 46 new containerships, ranging from 5,300 TEU to 15,000 TEU, and is well suited for our commercial strategy; early adoption of LNG technology—currently accounting for approximately 40% of our operated capacity and providing a meaningful commercial differentiation; strategic utilization of cash reserves for vessels acquisition to strengthen our core capacity and over $1 billion invested since 2021 in renewing our fleet of equipment; timely expansion of our car carrier activity and strategic agreements with Shell to secure LNG supply. Importantly, we have also advanced digital solutions, data analytics, business intelligence (BI), and artificial intelligence (AI) tools to enhance operational and commercial excellence. As innovators in this area, we have continually led the industry by developing and implementing cutting-edge technologies that set new standards for efficiency and customer experience."Glickman concluded, "Our agility and proactive decision-making have enabled us to implement critical strategies that position ZIM as a market leader in container shipping, with industry-leading EBIT margins and making ZIM a compelling acquisition target.""Today's announcement is the culmination of a thorough strategic review carried out by ZIM's Board of Directors," added Yair Seroussi, Chairman of ZIM's Board of Directors. "We believe this represents the most prudent and beneficial transaction for all ZIM stakeholders. The decision to enter into a transaction with Hapag-Lloyd reflects our commitment to maximizing value for shareholders through a competitive bidding process, while ensuring the best possible outcome for the Company, our employees and the State of Israel. We are confident this is a compelling transaction for shareholders that further advances the tremendous value creation track record that we have established, returning to shareholders approximately $10 billion since our IPO. This significant value was achieved through consistent operational improvements, disciplined and smart fleet renewal decisions, strong management and effective Board engagement, and the dedication of our world-class employee base.""New ZIM" to Serve Main Global Trade Routes into Israel and Fulfill Special State Share ObligationsIn connection with the transaction, Hapag-Lloyd has entered into a binding memorandum of understanding with FIMI, under which the Special State Share held by the State of Israel in ZIM is intended to be transferred to a newly created subsidiary of FIMI, subject to approval by the State of Israel. FIMI, headquartered in Tel Aviv, Israel, is the country's largest and leading private equity fund with more than $11 billion in assets under management and one of the largest private employers in the country. FIMI will create a new container-network operator and liner-service provider, "New ZIM", with owned tonnage, incorporated in Israel. The new business, operating under the ZIM trademark, will be owned and run by FIMI, supported by a long-term strategic partnership with Hapag-Lloyd, which includes commercial support for the initial period to allow structured commencement of operations.In addition to providing support to "New ZIM", Hapag-Lloyd expressed its intention to maintain a long-term presence in Israel and to retain ZIM employees.Transaction Approvals and Closing ConditionsThe transaction has been unanimously approved by ZIM Board of Directors and is expected to close by late 2026, subject to approval by ZIM shareholders and upon satisfaction of customary closing conditions, including approvals by regulatory authorities and the State of Israel pursuant to the requirements of the Special State Share. Until the closing of the transaction, Hapag-Lloyd and ZIM will remain separate independent companies and will continue to maintain "business as usual".Evercore is serving as financial advisor to ZIM and rendered a fairness opinion to the ZIM Board, Meitar Law Offices and Skadden, Arps, Slate, Meagher & Flom LLP are serving as legal counsel to ZIM, Barclays rendered a second fairness opinion to the ZIM Board, and IGB Group is serving as strategic communications advisor to ZIM.About ZIMFounded in Israel in 1945, ZIM is a leading global container liner shipping company with established operations in more than 90 countries serving approximately 33,000 customers in over 300 ports worldwide. ZIM leverages digital strategies and a commitment to ESG values to provide customers with innovative seaborne transportation and logistics services and exceptional customer experience. ZIM's differentiated global-niche strategy, based on agile fleet management and deployment, covers major trade routes with a focus on select markets. Additional information about ZIM is available at www.ZIM.com.Additional Information and Where to Find itIn connection with the proposed transaction, the Company intends to submit relevant materials to the U.S. Securities and Exchange Commission (the "SEC") and other governmental or regulatory authorities, including a proxy statement and form of proxy card. INVESTORS ARE URGED TO READ THESE MATERIALS CAREFULLY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT ZIM AND THE TRANSACTION. The proxy statement, proxy card and certain other relevant materials (when they become available) and any other documents submitted by the Company to the SEC may be obtained free of charge at the SEC's website at http://www.sec.gov. Investors are urged to read the proxy statement and the other relevant materials carefully when they become available before making any voting or investment decision with respect to the transaction.Forward-Looking StatementsThe above information contains, or may be deemed to contain forward-looking statements (as defined in the U.S. Private Securities Litigation Reform Act of 1995). These forward-looking statements may include but are not limited to statements about the expected completion of the proposed transaction and the timing thereof, the satisfaction or waiver of any conditions to the proposed transaction, anticipated benefits, growth opportunities, intent, results and other events relating to the proposed transaction. In some cases, you can identify these statements by forward-looking words such as "may," "might," "will," "should," "expect," "plan," "anticipate," "believe," "estimate," "predict," "potential" or "continue," the negative of these terms and other comparable terminology, but are not the only way these statements are identified. These forward-looking statements are subject to risks, uncertainties and assumptions about the Company. These statements are only predictions based on the Company's current expectations and projections about future events or results. There are many factors that could cause the Company's actual results, level of activity, performance or achievements or matters relating to the proposed transaction to differ materially from the results, level of activity, performance or achievements expressed or implied by the forward-looking statements, including without limitation: (1) the parties may fail to satisfy any of the conditions to the closing of the proposed transaction, including the potential failure to obtain approval by the Company's shareholders or applicable regulatory authorities; (2) the Company may incur unexpected costs, liabilities or delays relating to the proposed transaction; (3) the Company's business may suffer as a result of uncertainty surrounding the proposed transaction and diversion of management attention on transaction related matters; (4) the Company may become subject to legal proceedings related to the proposed transaction, and the outcomes thereof; (5) the Company may be adversely affected by other economic, business and/or competitive factors; (6) the occurrence of any event, change or other circumstances that could give rise to the termination of the proposed transaction; (7) difficulties in recognizing benefits of the proposed transaction; (8) the proposed transaction may disrupt current plans and operations and raise difficulties for employee retention; (9) impact of the proposed transaction on the Company's business relationships; (10) other risks relating to the proposed transaction, including the risk that the proposed transaction will not be completed within the expected time period or at all, and that its termination under certain conditions could result in the Company's requirement to pay a termination fee; and (11) the factors, risks and uncertainties detailed from time to time in the Company's filings with the SEC, including under the caption "Risk Factors" in its 2024 Annual Report filed with the SEC on March 12, 2025. These forward-looking statements are made only as of the date hereof, and other than as required by applicable law, the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.Investor Relations:
Elana Holzman
ZIM Integrated Shipping Services Ltd.
+972-4-865-2300
holzman.elana @esculapio65-8438
lberman@igbir.com Media:
Avner Shats
ZIM Integrated Shipping Services Ltd.
+972-4-865-2520
media@zim.com Logo: https://mma.prnewswire.com/media/1933864/ZIM_Logo.jpg



View original content:https://www.prnewswire.com/news-releases/zim-to-be-acquired-by-hapag-lloyd-for-35-00-per-share-in-cash-at-aggregate-cash-consideration-of-approximately-4-2-billion-new-israeli-company-new-zim-to-acquire-portion-of-zims-business-302688714.htmlSOURCE ZIM Integrated Shipping Services Ltd.

Original: ZIM to be Acquired by Hapag-Lloyd for $35.00 per Share in Cash at Aggregate Cash Consideration of Approximately $4.2 Billion; New Israeli Company, "New ZIM", to Acquire Portion of ZIM's Business

How many Israeli government " Golden Shares" are not included in the 0.12B share count? Sweet deal if it gets approval from the gov't.

Is this the sellout offer? Or just a rumor?

23B / .12B outstanding shares = $191
Am I right?

The rumors also come as MSC is seeking to push through a https://finance.yahoo.com/news/eu-scrutinizes-msc-planned-stake-130000083.html

$20.96 + 5% cash divided 

The stock has become a value trap.

Rumors of company being purchased sent it up, now it can wander back down the the 15s.

Dividend is the only reason to stay in this one. I expect the tariffs to weigh heavily on international shipping to the U.S. Consumers are reaching a boiling point, and they may not be buying that coffee pot from Italy anymore. It may result in reduced profit and a cut in upcoming dividend disbursements.

$0.74 Record Date 06/02/25, Payment date 06/09/25, Less 25% Tax for US holders.

Good dividend and they are modernizing, to improve efficiencies.

Scaring people to sell with this bullshit algorithm drop in price. Gonna be a good day next payout F wallstreet and their illegal actions. Sooner or later the doj, FBI or Sec will grow some balls and go after them

That was the chance to pick up shares in the 12's. We will see how this plays out in 2026 when we hopefully have more normalized trade.

All Greek shippers trade like that. Granted these guys are Israeli, but the modus operandi is the same.

In it for the dividend yield.

Yes you did..however more important question..is it real co or just quick flip trade??!!
Seems crazy big contracts low pe high dividend and stock falls

I believe I said 12.  Got there a few days ago.  I think you will get another chance.

Safe to buy yet???
Or any other ideas

How much of their business is shipping to U.S. ports? One of the largest consumer economies in the world is about to slow down considerably. How will the new tariffs impact demand for their services? What will be the hit on their bottom line?

Rumor of management buyout. ZIM segment starts at 6.10 mark.

I think this stock goes to 12 or so first. Then buy.

Should I buy ??

we r at 1 pe or less so 2.5x from here is only 2 pe. company worth over 150. where did you see that rumor???

Buyout? 50-bucks a share.

Gonna need a lot of ships to build out that new Riviera.

Shorts are so FOOKED

WOOW 64000 SHARE BUY @21.95 $$$$$$$$$$$

RUMOR COULD MAKE 9$ $$$$$$$$$$$$$$$$$$$$$$$$$$ SOOOOO UNDERVALUED.- i got my money where my mouth is plus tons of fucked shorts

PE 2. PEG .05. I THINK PE UNDER 1. what idiots r selling. should be buying $$$$$$$$$$$

OVER $5 QRTR EARNINGS PLUS HUGE DIVY. QRTR AFTER THAT EVEN BIGGER $$$$$$$$$$$
TONS OF SHORTS. TIME TO PUSH SHORTIE BACK OVER $60

Crooked hedges,market makers and brokers shaking the trees to knock off the low hanging fruit. I look for a dividend to be announced it will be small but gotta start somewhere.

I am not sure I agree with you that ZIM has ALWAYS lost money. Their financial reports for 2021 and 2022 do not reflect that.

Short squeeze ongoing! Short Interest % Float: 24.76 %

ZIM getting more and more attention... -also reddits:
ZIM short squeeze getting traction

No value play, it`s a short squeeze play here!
Different circumstances...!
This one is profiting from side effects from this red sea crisis...