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June 01, 2015 10:39 PM ET

Marine

Company Overview of ZIM Integrated Shipping Services Ltd.

Company Overview

ZIM Integrated Shipping Services Ltd. provides cargo transportation services worldwide. The company offers transportation of various types of cargoes, including oversized/heavy, refrigerated, hazardous, and out of gauge large and heavy cargoes, as well as perishable goods. It also offers door to door project management services; on-line cargo and container tracing services; vessel and container information solutions; E-services; and land transportation tariff solutions. The company was formerly known as ZIM Israel Navigation Company Limited and changed its name to ZIM Integrated Shipping Services Ltd. in August 2004. The company was founded in 1945 and is headquartered in Haifa, Israel with ...

9 Andrei Sakharov Street

Matam Scientific Industries Center

P.O.B. 1723

Haifa,  31016

Israel

Founded in 1945

Phone:

972 4 865 2111

Fax:

972 4 865 2956

Key Executives for ZIM Integrated Shipping Services Ltd.

Chief Executive Officer and President
Age: 62
Chief Financial Officer
Chief Operations Officer
President of Asia Pacific Region
Compensation as of Fiscal Year 2014.

ZIM Integrated Shipping Services Ltd. Key Developments

Zim Integrated Shipping Services Ltd. Reports Earnings Results for the First Quarter of 2015

Zim Integrated Shipping Services Ltd. reported earnings results for the first quarter of 2015. The company finished the first quarter of 2015 with an $11 million net profit, following a sharp drop in shipping costs, and despite a more moderate decline in its revenue. The company reported $792 million in revenue from cargoes and related services in the first quarter. The company said this 8.6% drop, compared with the first quarter of 2014, was caused by lower revenue from transporting cargoes in containers and from related activities. Revenue from cargoes was down $36 million as a result of a 7.6% decrease in the number of cargo units transported, while the per unit price rose 2.8%.

Zim Integrated Shipping Services Ltd. Announces Earnings Results for the Fourth Quarter and Year Ended December 31, 2014

Zim Integrated Shipping Services Ltd. announced earnings results for the fourth quarter and year ended December 31, 2014. Fourth quarter results (in non-GAAP terms as well) include an accounting expense of $21 million due to the revaluation of fuel hedging transactions. Excluding this expense, fourth quarter results in particular, and 2014 annual results in general, reflect an even more significant improvement compared to third quarter and the previous year. EBIT amounted to $5 million, reflecting a decline compared to a $14 million operational profit in the previous quarter. As mentioned, excluding the $21 million expense due to revaluation of derivatives, the company recorded an improvement with an EBIT of $26 million in fourth quarter. EBITDA profit amounted to $30 million, compared to $41 million in the previous quarter. As mentioned, excluding the expense due to revaluation of derivatives, the company recorded an improved EBIDTA of $51 million in fourth quarter. Net loss amounted to $4 million, reflecting a $16 million improvement compared to the previous quarter. As mentioned, excluding the expense due to revaluation of derivatives, the company shows a profit of $17 million in fourth quarter. The operating cash flow in the fourth quarter amounted to $42 million, a $5 million improvement compared to last quarter. Revenues amounted to $813 million compared to $888 million in the corresponding quarter of 2013. The company reported that loss attributable to owners of the company for the year ended December 31, 2014 was $204.91 million, compared to a loss attributable to owners of the company of $534.97 million for the year ended December 31, 2013. Income from voyages and related services for the year ended December 31, 2014 was $3.41 billion, compared to $3.68 billion for the year ended December 31, 2013. Gross profit for the year ended December 31, 2014 was $131.28 million, compared to a gross loss of $88.11 million for the year ended December 31, 2013. Loss before income tax for the year ended December 31, 2014 was $217.08 million, compared to a loss before income tax of $507.38 million for the year ended December 31, 2013. The company ends 2014 with significantly improved non-GAAP results, partly due to the completion of the Company's debt restructuring, on July 16, 2014. The $3.4 billion debt restructuring, which included a debt to equity swap of $1.4 billion, significantly improved the Company's financial strength and brought the Company to report positive equity. 2014 EBIT operating profit (in non-GAAP terms) shows a sharp improvement, amounting to a $12 million loss compared to a $161 loss in 2013. EBITDA (in Non GAAP terms) amounted to $116 million profit, compared with a $2 million loss in 2013. The net loss (in Non GAAP terms) has been significantly reduced, from $343 million in 2013 to $127 million in 2014. The operating cash flow in 2014 amounted to $121 million compared to $13 million in 2013.

Zim Integrated Shipping Services Ltd., 2014 Fixed Income Call, Apr 16, 2015

Zim Integrated Shipping Services Ltd., 2014 Fixed Income Call, Apr 16, 2015

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