Average freight rate per TEU more than doubled to $2,786 for 2021 as against $1,229 for 2020.
ZIM announces record 2021 numbers, bullish on 2022
NYSE-listed Israeli carrier ZIM Integrated Shipping Services today reported total revenue of $10.73 billion for 2021 compared to $3.99 billion for 2020 - an increase of 168 percent driven by an increase in revenue from containerised cargo, increases in freight rates and carried volume.
Net income for the full year was $4.65 billion (including a tax expense of $1.10 billion) compared to $524 million for 2020.
Adjusted EBITDA came in at $6.60 billion as against $1.04 billion for 2020, and adjusted EBITDA margin was 61 percent. Operating margin for the full year of 2021 was 54 percent compared to 18 percent last year.
