ZIM Integrated Shipping Services Ltd (ZIM) has announced its financial results for the fourth quarter and full year ending December 31, 2024, reports London's Port Technology International.

For Q4 2024, ZIM reported a net income of US$563 million, a sharp turnaround from the $147 million net loss in Q4 2023.

Diluted earnings per share stood at $4.664, compared to a diluted loss per share of $1.23 in the same quarter the previous year.

Operating income (EBIT) surged to $658 million, reversing a $54 million operating loss in Q4 2023. Adjusted EBITDA for the quarter reached $967 million.

Revenue for the period was $2.17 billion, reflecting a 409 per cent increase year-over-year.

For 2024, adjusted EBITDA totalled $3.69 billion, marking a 252 per cent year-on-year rise.

Operating income was $2.53 billion, a significant rebound from the $2.51 billion operating loss in 2023, representing an 80 per cent improvement. Annual revenue climbed to $8.43 billion, up 63 per cent.

Container volumes also saw substantial growth, with Q4 2024 carried volume reaching 982 million TEU, a 25 per cent increase.

Total volume for the year was 3.75 billion TEU, reflecting a 14 per cent rise.