Zim Integrated Shipping Serv Stock Price, News & Analysis

ZIM Integrated Shipping Services (NYSE: ZIM) has scheduled the release of its fourth quarter and full year 2024 financial results for Wednesday, March 12, 2025, before U.S. market opening. The company will host a conference call and webcast with slide presentation at 8:00 AM ET for management to review results and provide corporate updates.

Participants can access the conference call via telephone from the United States (+1-800-715-9871 or +1-646-307-1963), Israel (+972-3-376-1144), or UK/international (+44-20-3481-4247) using conference ID 8260105. The presentation and call will also be available via webcast through ZIM's website, with a replay accessible afterward.

ZIM Integrated Shipping Services has provided an update on tax withholding procedures for its previously announced December 2024 dividends. The company will distribute a regular cash dividend of $2.81 per share (approximately $340 million) and a special cash dividend of $0.84 per share (approximately $100 million) on December 9, 2024, to shareholders of record as of December 2, 2024. The company will withhold 25% of the dividend amount initially, but shareholders may be eligible for reduced withholding tax rates through a ruling from the Israeli Tax Authority. Eligible shareholders must submit required documentation to IBI Trust Management by January 7, 2025, to qualify for reduced rates.

ZIM Integrated Shipping Services reported strong Q3 2024 financial results with revenues of $2.77 billion and net income of $1.13 billion. The company achieved record carried volume of 970,000 TEUs, representing 12% year-over-year growth. Average freight rate increased 118% to $2,480 per TEU. Based on strong performance, ZIM raised its full-year 2024 guidance, forecasting Adjusted EBITDA between $3.3-3.6 billion. The company declared a total dividend of ~$440 million ($3.65 per share), including a regular dividend of ~$340 million and special dividend of ~$100 million.

ZIM Integrated Shipping Services has launched a new Employer Brand Campaign to attract top talent to its USA operations, headquartered in Virginia Beach. The campaign, featuring the slogan 'Hear the Difference. See the Difference. Be the Difference,' will showcase ZIM's corporate culture and values through various platforms including social media, job search websites, and mobile billboards on container trucks.

The initiative focuses on recruiting for customer service, sales, and other key positions at their newly opened Virginia Beach offices and New Jersey locations. The campaign messaging was developed through extensive research and employee input, reflecting the company's commitment to authenticity and their distinctive 'Z Factor' spirit.

ZIM Integrated Shipping Services (NYSE: ZIM) has announced it will release its third quarter 2024 financial results on Wednesday, November 20, 2024, before U.S. market opening. The company will host a conference call and webcast with slide presentation at 8:00 AM ET for management to review results and provide updates. The presentation will be accessible via telephone in multiple countries and through a live webcast on ZIM's website. A replay will be available after the call.

Pickommerce, a warehouse automation innovator, has secured $3.4 million in funding to advance its PickoBot piece-picking robot technology. The investment round was led by IL Ventures and included InNegev, Fusion VC, Israel Innovation Authority, and ZIM Ventures (NYSE: ZIM). PickoBot aims to fill the gap in fully autonomous warehouse workflows by providing a superior solution for various industries.

The technology utilizes advanced computer vision and machine learning to enable safe and intelligent packaging of objects with different sizes, weights, and textures. PickoBot features multiple gripping methods and an AI-driven decision-making algorithm to select the optimal gripper for each item. A recent installation at Havivian Farm showcases the adaptability and precision of Pickommerce's technology in handling fresh produce.

ZIM Integrated Shipping Services (NYSE: ZIM) has announced a new long-term operational cooperation with Mediterranean Shipping Company (MSC) on the Asia - US East Coast and Asia - US Gulf trades, set to launch in February 2025. The agreement includes six services covering extensive connections between Asia and various US ports, as well as the Caribbean and West Coast of Mexico.

This collaboration aims to enhance ZIM's service quality and operational efficiencies. It aligns with ZIM's fleet renewal program and focus on decarbonization, promoting the use of larger, eco-friendly vessels, including LNG-powered ships. The three-year agreement involves slot swap and vessel sharing arrangements, allowing ZIM to offer comprehensive port coverage while maintaining its customer-centric approach.

ZIM will continue operating two independent services to the US West Coast and maintain its existing agreement with MSC for the Pacific Northwest service.

ZIM Integrated Shipping Services (NYSE: ZIM) has announced an update on withholding tax procedures for its September 2024 cash dividend of $0.93 per ordinary share (approximately $112 million). The dividend will be paid on September 5, 2024 to shareholders of record as of August 29, 2024. ZIM has obtained a tax ruling from the Israeli Tax Authority that may allow certain shareholders to benefit from a reduced Israeli withholding tax rate compared to the standard 25-30% rate.

To be eligible for the reduced rate, shareholders must submit required documentation to the appointed agent, IBI Trust Management, by October 8, 2024. The ruling applies to both Israeli and non-Israeli shareholders, including those from countries with tax treaties with Israel. ZIM will initially withhold 25% of the dividend amount, with potential refunds available to eligible shareholders who complete the necessary procedures.

ZIM Integrated Shipping Services (NYSE: ZIM) reported strong financial results for Q2 2024 with revenues of $1.93 billion, a 48% YoY increase. The company achieved net income of $373 million, reversing a net loss of $213 million in Q2 2023. Adjusted EBITDA rose 179% YoY to $766 million, and Adjusted EBIT was $488 million. ZIM recorded a record carried volume of 952 thousand TEUs, an 11% increase, and an average freight rate per TEU of $1,674, up 40% YoY.

The company raised its full-year 2024 guidance for Adjusted EBITDA to $2.6 billion-$3.0 billion and Adjusted EBIT to $1.45 billion-$1.85 billion. ZIM declared a dividend of $0.93 per share, totaling $112 million. CEO Eli Glickman highlighted the strategic decision to increase spot market exposure, which benefited from elevated rates. ZIM expects improved performance in H2 2024, driven by continued supply pressure from the Red Sea crisis and favorable demand trends.