ZIM’s financial results for the fourth quarter and full year 2020

Yair Seroussi, Chairman of the Board of Directors stated, “ZIM’s IPO earlier this year was the culmination of many months of hard work and dedication by ZIM’s management and employees in collaboration with the Board of Directors and marks the successful turnaround the Company has undergone over the past few years.  We are very pleased with the financial results released today, our first as a public company, and believe that they are proof of the exceptional human capital at ZIM.  Moreover, these capabilities will continue to drive ZIM’s future growth and success.”

Eli Glickman, ZIM President & CEO, stated, “Our all-time record results in 2020 and the significant milestones we have achieved year-to-date-2021 represent a truly momentous time for ZIM. During a global pandemic, we generated our highest net income in the company’s 75-year history, underscoring the benefits of our differentiated strategy and our proactive approach to address COVID-19. We also ended the year strong, as we achieved EBIT and EBITDA at the high end of our guidance range and continued to achieve industry leading margins. We are committed to our goal of consistently performing as one of the top three carriers in terms of EBIT margin.”

Glickman added, “We commenced 2021 by becoming the first global container liner to list on the NYSE, highlighting our success creating a leading asset-light shipping liner at the forefront of digitization. Following our IPO, we also announced a strategic long-term chartering agreement for ten 15,000 TEU LNG dual-fuel container vessels, positioning ZIM to meet the growing market demand on the Asia - US East Coast trade and advance our leadership in addressing environmental and sustainability issues.”

Glickman concluded, “Today, ZIM is a revitalized company with new strengths, an invigorated spirit and a promising outlook for operating amid the new realities of shipping. Combined with our dedicated team of professionals and commitment to utilizing big data and technology, we remain well positioned to enhance our customer experiences, capitalize on favorable industry fundamentals, and maximize long-term profitability. In 2021, as per the guidance we provide, we expect to continue our positive trajectory, achieving significant Adjusted EBITDA and Adjusted EBIT growth and maintaining industry leading margins. We also intend to further harness our “Startup Nation” DNA based on innovation and technological collaborations to continue to develop growth engines that provide us additional revenue streams beyond our traditional shipping business.”