(ZIM) Shares of ZIM Integrated Shipping Services rose more than 7% on Wednesday after posting a net income of $1.71 billion in Q4 2021 from $366 million in the prior year.
In FY21, ZIM’s net income was $4.65 billion, an increase from $524 million in the previous year.
The company’s EBITDA in the fourth quarter was reported at $2.36 billion, up by 345% from the previous year. FY21 EBITDA was $6.60 billion, up by 537% from the prior year.
The income was earned from revenues of $3.47 billion in the fourth quarter, representing a gain of 155% from the prior year. FY21 revenue was $10.73 billion, an increase of 169% from the prior year.
ZIM declared a dividend of $2.04 billion or $17.00 per share, reflecting 50% of 2021 net income on a cumulative basis.
The company now projects an adjusted EBITDA of between $7.1 billion to $7.5 billion in FY22 and adjusted EBIT ranging from $5.6 billion and $6 billion in the same period.
ZIM: NYSE is currently up +7.10%.
