7Baggers

ZIM Integrated Shipping Services Ltd
(NYSE:ZIM) 

ZIM stock logo

ZIM Integrated Shipping Services Ltd., together with its subsidiaries, provides container shipping and related services in Israel and internationally. The company offers dry, reefer, project, out of gauge, breakbulk, and dangerous cargo services; inland transport services; and ZIMonitor, a reefer ca...

Founded: 1945
IPO Price: $15 (Jan 28, 2021)
CEO: Eli Glickman  
Sector: Industrials
Industry: Marine Shipping

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At a glance:
Bull Thesis:
Bear Thesis:
Main Competitors:
Moat:
Income Statements:
Quarterly
Annual
    Unit: USD2025-11-20 2025-08-20 2025-05-19 2025-03-12 2024-12-31 2024-11-20 2024-08-19 2024-05-21 2024-03-13 2023-12-31 2023-11-15 2023-08-16 2023-05-22 2023-03-13 2022-12-31 2022-11-16 2022-08-17 2022-05-18 2022-03-09 2021-12-31 2021-11-17 2021-08-18 2021-05-19 2021-03-22 2020-12-31 
                             
      income from voyages and related services
    1,777,200,000 1,635,700,000 2,006,600,000 2,167,600,000 2,167,600,000 2,765,200,000 1,932,600,000 1,562,000,000 1,205,300,000 1,205,300,000 1,273,000,000 1,309,600,000 1,374,300,000 2,188,900,000 2,188,900,000 3,227,500,000 3,428,800,000 3,716,400,000 3,466,394,000 -7,251,575,302 3,135,958,000 2,382,011,000 1,744,335,000 1,360,846,000  
      cost of voyages and related services:
                             
      operating expenses and cost of services
    -1,113,400,000 -1,098,000,000 -1,162,600,000 -1,131,300,000 -1,131,300,000 -1,167,800,000 -1,133,300,000 -1,080,800,000 -963,100,000 -963,100,000 -1,008,400,000 -973,900,000 -939,700,000 -1,134,300,000 -1,134,300,000 -1,249,600,000 -1,262,300,000 -1,118,300,000 -1,029,042,000 2,873,000,052 -1,007,365,000 -988,914,000 -880,627,000 -796,142,000  
      depreciation
    -325,500,000 -316,900,000 -310,800,000 -305,300,000 -305,300,000 -292,100,000 -275,100,000 -257,700,000 -237,000,000 -237,000,000 -417,400,000 -414,900,000 -380,500,000 -380,600,000 -380,600,000 -373,700,000 -331,600,000 -284,400,000 -242,352,000 513,150,741 -215,172,000 -170,606,000 -128,129,000 -87,237,000  
      gross profit
    338,300,000 220,800,000 533,200,000 731,000,000 731,000,000 1,305,300,000 524,200,000 223,500,000 5,200,000 5,200,000 -2,187,700,000 -79,200,000 54,100,000 674,000,000 674,000,000 1,604,200,000 1,834,900,000 2,313,700,000 2,195,000,000 -3,865,424,509 1,913,421,000 1,222,491,000 735,579,000 477,467,000  
      yoy
    -53.72% -83.08% 1.72% 227.07% 13957.69% 25001.92% -123.96% -382.20% -90.39% -99.23% -424.58% -104.94% -97.05% -70.87% -69.29% -141.50% -4.10% 89.26% 198.40% -909.57%      
      qoq
    53.22% -58.59% -27.06% 0.00% -44.00% 149.01% 134.54% 4198.08% 0.00% -100.24% 2662.25% -246.40% -91.97% 0.00% -57.99% -12.57% -20.69% 5.41% -156.79% -302.02% 56.52% 66.19% 54.06%   
      other operating income
    9,900,000 15,300,000 12,500,000 13,700,000 13,700,000 7,300,000 19,600,000 6,000,000 11,900,000 11,900,000 600,000 -8,200,000 10,100,000 8,100,000 8,100,000 21,500,000 14,700,000 4,600,000 5,013,000 -9,504,468 5,354,000 1,852,000 2,313,000 4,602,000  
      other operating expenses
     -200,000  900,000 900,000 -1,100,000 -600,000  3,200,000 3,200,000 -22,400,000 -6,500,000 -3,600,000 -500,000 -500,000 -200,000 -100,000 -100,000 -254,000 713,032 -255,000 -375,000 -84,000 4,914,000  
      general and administrative expenses
    -84,700,000 -84,200,000 -79,000,000 -86,400,000 -86,400,000 -75,900,000 -73,000,000 -60,800,000 -71,300,000 -71,300,000 -63,900,000 -71,400,000 -74,100,000 -94,300,000 -94,300,000 -82,000,000 -84,900,000 -77,100,000 -83,799,000 183,642,291 -60,375,000 -67,637,000 -55,898,000 -48,450,000  
      share of loss of associates
    -4,100,000 -2,500,000  -1,600,000 -1,600,000 -800,000 -1,900,000  -2,600,000                 
      results from operating activities
    259,400,000 149,200,000 464,300,000 657,600,000 657,600,000 1,234,800,000 468,300,000 166,600,000 -53,600,000 -53,600,000 -2,275,700,000 -167,800,000 -13,900,000 584,700,000 584,700,000 1,544,300,000 1,764,300,000 2,242,500,000 2,116,792,000 -3,693,692,699 1,858,987,000 1,157,067,000 683,455,000 439,499,000  
      finance income
    34,300,000 29,700,000 40,000,000 68,200,000 68,200,000 19,800,000 22,500,000 38,700,000 24,500,000 24,500,000 35,600,000 37,700,000 44,400,000 48,600,000 48,600,000 34,900,000 26,000,000 21,400,000 9,704,000 -9,063,214 3,383,000 -1,116,000    
      finance expenses
    -121,400,000 -129,600,000 -123,800,000 -125,000,000 -125,000,000 -121,600,000 -115,900,000 -109,000,000 -108,000,000 -108,000,000 -101,500,000 -142,000,000 -95,200,000 -75,400,000 -75,400,000 -64,800,000 -53,900,000 -45,300,000 -43,947,000 131,472,405 -41,452,000 -43,936,000    
      net finance expenses
    -87,100,000 -99,900,000 -83,800,000 -56,800,000 -56,800,000 -101,800,000 -93,400,000 -70,300,000 -83,500,000 -83,500,000 -65,900,000 -104,300,000 -50,800,000 -26,800,000 -26,800,000 -29,900,000 -27,900,000 -23,900,000 -34,243,000 122,409,191 -38,069,000 -45,052,000 -39,445,000 -67,706,000  
      profit before income taxes
    172,300,000 49,300,000 380,500,000 600,800,000 600,800,000 1,133,000,000 374,900,000 96,300,000 -137,100,000 -137,100,000 -2,341,600,000 -272,100,000 -64,700,000 557,900,000 557,900,000 1,514,400,000 1,736,400,000 2,218,600,000 2,082,549,000 -3,571,283,508 1,820,918,000 1,112,015,000 644,010,000 371,793,000  
      income taxes
    -48,900,000 -25,600,000 -84,400,000 -38,100,000 -38,100,000 -6,800,000 -2,100,000 -4,200,000 -9,500,000 -9,500,000 71,100,000 59,400,000 6,600,000 -141,400,000 -141,400,000 -348,700,000 -400,600,000 -507,600,000 -374,126,000 635,210,653 -358,004,000 -223,795,000 -54,422,000 -5,404,000  
      profit for the period
    123,400,000 23,700,000 296,100,000  397,775,000 1,126,200,000 372,800,000 92,100,000 -146,600,000 -635,325,000 -2,270,500,000 -212,700,000 -58,100,000 416,500,000 1,053,125,000 1,165,700,000 1,335,800,000 1,711,000,000  735,180,500 1,462,914,000 888,220,000 589,588,000   
      attributable to:
                             
      owners of the company
    123,000,000 22,800,000 295,300,000 561,500,000 561,500,000 1,124,600,000 371,300,000 90,300,000 -148,400,000 -148,400,000 -2,272,600,000 -215,100,000 -59,500,000 414,200,000 414,200,000 1,163,300,000 1,333,100,000 1,708,800,000 1,705,104,000 -2,930,560,695 1,461,146,000 886,456,000 587,599,000 365,046,000  
      non-controlling interests
    400,000 900,000 800,000 1,200,000 1,200,000 1,600,000 1,500,000 1,800,000 1,800,000 1,800,000 2,100,000 2,400,000 1,400,000 2,300,000 2,300,000 2,400,000 2,700,000 2,200,000 3,319,000    1,989,000 1,343,000  
      earnings per share
                             
      basic earnings per 1 ordinary share
    1.02 0.19 2.45 4.66 4.66 9.34 3.08 0.75 -1.23 -1.23 -18.9 -1.79 -0.5 3.45 3.44 9.69 11.11 14.25 14.34 6.448 12.53 7.71    
      diluted earnings per 1 ordinary share
    1.02 0.19 2.45 4.66 4.65 9.34 3.08 0.75 -1.23 -1.23 -18.9 -1.79 -0.5 3.44 3.44 9.66 11.07 14.19 14.17 6.198 12.16 7.38    
      weighted-average number of shares for earnings per share calculation:
                             
      basic
    120,457,512 120,457,512 120,439,282 120,407,359  120,372,813 120,341,086 120,307,283 120,266,569  120,219,761 120,195,365 120,169,288 120,098,658  120,047,393 119,990,308 119,910,688 118,908,731    109,777,778 100,000,000  
      diluted
    120,509,223 120,508,193 120,508,654 120,499,400  120,475,290 120,456,342 120,450,586 120,266,569  120,219,761 120,195,365 120,169,288 120,431,208  120,439,492 120,442,213 120,438,898 120,332,347    114,508,115 104,641,014  
      share in loss of associates
      -2,400,000     -2,100,000                  
      impairment of assets
              -2,034,900,000               
      profit for the year
       562,700,000             1,335,800,000  1,708,423,000     366,389,000  
      cost of voyages and related services
                             
      share of profit of associates
             -1,300,000 -2,300,000 -2,500,000 -400,000  475,000 800,000  1,400,000  780,750 842,000 736,000    
      share of profits (loss) of associates
                 -2,600,000            
      weighted-average number of shares for eps calculation
                             
      basic
    120,457,512 120,457,512 120,439,282 120,407,359  120,372,813 120,341,086 120,307,283 120,266,569  120,219,761 120,195,365 120,169,288 120,098,658  120,047,393 119,990,308 119,910,688 118,908,731    109,777,778 100,000,000  
      diluted
    120,509,223 120,508,193 120,508,654 120,499,400  120,475,290 120,456,342 120,450,586 120,266,569  120,219,761 120,195,365 120,169,288 120,431,208  120,439,492 120,442,213 120,438,898 120,332,347    114,508,115 104,641,014  
      share of profits of associates
                    -300,000  832,000    1,545,000 966,000  
      weighted-average number of shares for eps calculation:
                             
      basic
    120,457,512 120,457,512 120,439,282 120,407,359  120,372,813 120,341,086 120,307,283 120,266,569  120,219,761 120,195,365 120,169,288 120,098,658  120,047,393 119,990,308 119,910,688 118,908,731    109,777,778 100,000,000  
      diluted
    120,509,223 120,508,193 120,508,654 120,499,400  120,475,290 120,456,342 120,450,586 120,266,569  120,219,761 120,195,365 120,169,288 120,431,208  120,439,492 120,442,213 120,438,898 120,332,347    114,508,115 104,641,014  
      non-controlling interest
                       1,380,250 1,768,000 1,764,000    
      weighted-average number of shares used to calculate basic eps
                        116,618,539     
      weighted-average number of shares used to calculate diluted eps
                        120,206,306     
      earnings per share (us)*
                             
      basic earnings (losses) per 1 ordinary share
                          5.35 3.65  
      diluted earnings (losses) per 1 ordinary share
                          5.13 3.49  
      weighted-average number of shares for eps calculation*:
                             
      basic
    120,457,512 120,457,512 120,439,282 120,407,359  120,372,813 120,341,086 120,307,283 120,266,569  120,219,761 120,195,365 120,169,288 120,098,658  120,047,393 119,990,308 119,910,688 118,908,731    109,777,778 100,000,000  
      diluted
    120,509,223 120,508,193 120,508,654 120,499,400  120,475,290 120,456,342 120,450,586 120,266,569  120,219,761 120,195,365 120,169,288 120,431,208  120,439,492 120,442,213 120,438,898 120,332,347    114,508,115 104,641,014  
      earnings )loss) per share (us)*
                             
    Balance Sheets:
    Quarterly
    Annual
      Unit: USD2025-11-20 2025-09-30 2025-08-20 2025-06-30 2025-05-19 2025-03-31 2025-03-12 2024-12-31 2024-11-20 2024-09-30 2024-08-19 2024-06-30 2024-05-21 2024-03-31 2024-03-13 2023-12-31 2023-11-15 2023-09-30 2023-08-16 2023-06-30 2023-05-22 2023-03-31 2023-03-13 2022-12-31 2022-11-16 2022-09-30 2022-08-17 2022-06-30 2022-05-18 2022-03-31 2022-03-09 2021-12-31 2021-11-17 2021-09-30 2021-08-18 2021-06-30 2021-05-19 2021-03-31 2021-03-22 2020-12-31 
                                              
        assets
                                              
        vessels
      5,606,400,000 5,606,400,000 5,825,000,000 5,825,000,000 5,727,500,000 5,727,500,000 5,733,000,000 5,733,000,000 5,301,900,000 5,301,900,000 4,917,200,000 4,917,200,000 4,488,700,000 4,488,700,000 3,758,900,000 3,758,900,000 3,222,900,000 3,222,900,000 5,005,400,000 5,005,400,000 4,784,300,000 4,784,300,000 4,409,900,000 4,409,900,000 4,640,500,000 4,640,500,000 4,405,300,000 4,405,300,000 4,037,500,000 4,037,500,000 2,957,848,000 2,957,848 2,280,881,000 2,280,881,000 1,768,298,000 1,768,298,000 1,299,718,000 1,299,718,000 948,004,000 948,004 
        containers and handling equipment
      1,082,600,000 1,082,600,000 1,058,000,000 1,058,000,000 1,065,600,000 1,065,600,000 1,013,300,000 1,013,300,000 988,700,000 988,700,000 906,700,000 906,700,000 822,900,000 822,900,000 792,900,000 792,900,000 788,200,000 788,200,000 1,209,800,000 1,209,800,000 1,233,100,000 1,233,100,000 1,242,800,000 1,242,800,000 1,270,800,000 1,270,800,000 1,281,400,000 1,281,400,000 1,323,600,000 1,323,600,000 1,365,759,000 1,365,759 1,258,270,000 1,258,270,000 1,019,343,000 1,019,343,000 665,636,000 665,636,000 520,887,000 520,887 
        other tangible assets
      113,700,000 113,700,000 109,100,000 109,100,000 105,200,000 105,200,000 97,700,000 97,700,000 91,100,000 91,100,000 91,800,000 91,800,000 87,700,000 87,700,000 85,200,000 85,200,000 61,100,000 61,100,000 124,300,000 124,300,000 98,200,000 98,200,000 98,500,000 98,500,000 76,900,000 76,900,000 77,700,000 77,700,000 74,600,000 74,600,000 68,947,000 68,947 66,428,000 66,428,000 66,957,000 66,957,000 64,466,000 64,466,000 67,133,000 67,133 
        intangible assets
      108,600,000 108,600,000 109,900,000 109,900,000 110,300,000 110,300,000 109,800,000 109,800,000 107,600,000 107,600,000 105,700,000 105,700,000 104,800,000 104,800,000 102,000,000 102,000,000 93,300,000 93,300,000 98,100,000 98,100,000 95,100,000 95,100,000 92,900,000 92,900,000 82,500,000 82,500,000 79,400,000 79,400,000 77,500,000 77,500,000 73,833,000 73,833 68,416,000 68,416,000 67,374,000 67,374,000 66,808,000 66,808,000 66,465,000 66,465 
        investments in associates
      30,400,000 30,400,000 33,300,000 33,300,000 22,000,000 22,000,000 25,400,000 25,400,000 26,000,000 26,000,000 28,400,000 28,400,000 30,300,000 30,300,000 26,400,000 26,400,000 26,800,000 26,800,000 29,300,000 29,300,000 22,600,000 22,600,000 22,000,000 22,000,000 26,000,000 26,000,000 17,800,000 17,800,000 13,600,000 13,600,000 12,223,000 12,223 13,349,000 13,349,000 12,418,000 12,418,000 13,544,000 13,544,000 8,441,000 8,441 
        other investments
      1,097,800,000 1,097,800,000 1,137,600,000 1,137,600,000 1,109,000,000 1,109,000,000 1,080,900,000 1,080,900,000 844,600,000 844,600,000 772,000,000 772,000,000 814,000,000 814,000,000 908,700,000 908,700,000 1,252,600,000 1,252,600,000 1,354,200,000 1,354,200,000 1,344,700,000 1,344,700,000 1,373,200,000 1,373,200,000 1,314,300,000 1,314,300,000 651,000,000 651,000,000 306,200,000 306,200,000 169,201,000 169,201 5,567,000 5,567,000 5,421,000 5,421,000 3,147,000 3,147,000 4,888,000 4,888 
        other receivables
      44,800,000 44,800,000 50,400,000 50,400,000 55,500,000 55,500,000 61,000,000 61,000,000 69,900,000 69,900,000 76,600,000 76,600,000 82,700,000 82,700,000 97,900,000 97,900,000 105,500,000 105,500,000 111,600,000 111,600,000 113,900,000 113,900,000 112,100,000 112,100,000                 
        deferred tax assets
      7,900,000 7,900,000 7,700,000 7,700,000 7,600,000 7,600,000 7,500,000 7,500,000 2,500,000 2,500,000 2,500,000 2,500,000 2,500,000 2,500,000 2,600,000 2,600,000 9,600,000 9,600,000 2,500,000 2,500,000 2,900,000 2,900,000 2,300,000 2,300,000 2,300,000 2,300,000 2,300,000 2,300,000 2,300,000 2,300,000 2,142,000 2,142 1,491,000 1,491,000 1,537,000 1,537,000 1,619,000 1,619,000 1,502,000 1,502 
        total non-current assets
      8,092,200,000 8,092,200,000 8,331,000,000 8,331,000,000 8,202,700,000 8,202,700,000 8,128,600,000 8,128,600,000 7,432,300,000 7,432,300,000 6,900,900,000 6,900,900,000 6,433,600,000 6,433,600,000 5,774,600,000 5,774,600,000 5,560,000,000 5,560,000,000 7,935,200,000 7,935,200,000 7,694,800,000 7,694,800,000 7,353,700,000 7,353,700,000 7,522,800,000 7,522,800,000 6,624,400,000 6,624,400,000 5,943,200,000 5,943,200,000 4,756,973,000 4,756,973 3,700,865,000 3,700,865,000 2,947,415,000 2,947,415,000 2,120,585,000 2,120,585,000 1,622,613,000 1,622,613 
        inventories
      182,000,000 182,000,000 199,300,000 199,300,000 217,500,000 217,500,000 212,200,000 212,200,000 208,400,000 208,400,000 187,700,000 187,700,000 197,300,000 197,300,000 179,300,000 179,300,000 156,400,000 156,400,000 174,100,000 174,100,000 189,100,000 189,100,000 190,700,000 190,700,000 225,700,000 225,700,000 216,200,000 216,200,000 173,800,000 173,800,000 118,965,000 118,965 107,293,000 107,293,000 99,750,000 99,750,000 86,256,000 86,256,000 52,237,000 52,237 
        trade and other receivables
      650,100,000 650,100,000 794,600,000 794,600,000 760,000,000 760,000,000 933,600,000 933,600,000 1,062,500,000 1,062,500,000 1,030,900,000 1,030,900,000 868,000,000 868,000,000 596,500,000 596,500,000 644,300,000 644,300,000 671,000,000 671,000,000 695,300,000 695,300,000 825,700,000 825,700,000 109,500,000 109,500,000 109,500,000 109,500,000 107,900,000 107,900,000 107,020,000 107,020 6,463,000 6,463,000 6,067,000 6,067,000 5,647,000 5,647,000 5,293,000 5,293 
        cash and cash equivalents
      1,299,000,000 1,299,000,000 1,187,100,000 1,187,100,000 1,546,100,000 1,546,100,000 1,314,700,000 1,314,700,000 1,548,700,000 1,548,700,000 889,800,000 889,800,000 687,900,000 687,900,000 921,500,000 921,500,000 912,100,000 912,100,000 1,040,300,000 1,040,300,000 1,892,600,000 1,892,600,000 1,022,100,000 1,022,100,000 1,285,700,000 1,285,700,000 946,800,000 946,800,000 2,727,200,000 2,727,200,000 1,543,300,000 1,543,300 2,454,997,000 2,454,997,000 1,545,282,000 1,545,282,000 1,188,408,000 1,188,408,000 570,414,000 570,414 
        total current assets
      2,782,200,000 2,782,200,000 2,766,700,000 2,766,700,000 3,289,000,000 3,289,000,000 3,260,900,000 3,260,900,000 3,586,200,000 3,586,200,000 2,807,500,000 2,807,500,000 2,498,000,000 2,498,000,000 2,571,400,000 2,571,400,000 2,631,400,000 2,631,400,000 2,748,400,000 2,748,400,000 3,837,200,000 3,837,200,000 4,271,600,000 4,271,600,000 4,471,800,000 4,471,800,000 4,868,100,000 4,868,100,000 6,379,800,000 6,379,800,000 5,084,865,000 5,084,865 4,141,573,000 4,141,573,000 2,655,083,000 2,655,083,000 2,038,064,000 2,038,064,000 1,201,628,000 1,201,628 
        total assets
      10,874,400,000 10,874,400,000 11,097,700,000 11,097,700,000 11,491,700,000 11,491,700,000 11,389,500,000 11,389,500,000 11,018,500,000 11,018,500,000 9,708,400,000 9,708,400,000 8,931,600,000 8,931,600,000 8,346,000,000 8,346,000,000 8,191,400,000 8,191,400,000 10,683,600,000 10,683,600,000 11,532,000,000 11,532,000,000 11,625,300,000 11,625,300,000 11,994,600,000 11,994,600,000 11,492,500,000 11,492,500,000 12,323,000,000 12,323,000,000 9,841,838,000 9,841,838 7,842,438,000 7,842,438,000 5,602,498,000 5,602,498,000 4,158,649,000 4,158,649,000 2,824,241,000 2,824,241 
        equity
                                              
        share capital and reserves
      2,048,800,000 2,048,800,000 2,046,400,000 2,046,400,000 2,039,800,000 2,039,800,000 2,032,700,000 2,032,700,000 2,041,100,000 2,041,100,000 2,016,700,000 2,016,700,000 2,013,900,000 2,013,900,000 2,017,500,000 2,017,500,000 1,980,700,000 1,980,700,000 1,994,800,000 1,994,800,000 2,007,900,000 2,007,900,000 1,987,700,000 1,987,700,000 2,009,900,000 2,009,900,000 2,010,600,000 2,010,600,000 2,009,800,000 2,009,800,000 2,011,409,000 2,011,409 1,994,230,000 1,994,230,000 1,992,895,000 1,992,895,000 1,992,378,000 1,992,378,000   
        retained earnings
      1,966,700,000 1,966,700,000 1,851,000,000 1,851,000,000 1,918,100,000 1,918,100,000 2,004,200,000 2,004,200,000 1,884,800,000 1,884,800,000 872,400,000 872,400,000 527,400,000 527,400,000 437,200,000 437,200,000 586,900,000 586,900,000 2,858,300,000 2,858,300,000 3,073,800,000 3,073,800,000 3,901,900,000 3,901,900,000 3,800,600,000 3,800,600,000 3,231,400,000 3,231,400,000 2,246,100,000 2,246,100,000 2,580,596,000 2,580,596 1,174,499,000 1,174,499,000       
        equity attributable to owners of the company
      4,015,500,000 4,015,500,000 3,897,400,000 3,897,400,000 3,957,900,000 3,957,900,000 4,036,900,000 4,036,900,000 3,925,900,000 3,925,900,000 2,889,100,000 2,889,100,000 2,541,300,000 2,541,300,000 2,454,700,000 2,454,700,000 2,567,600,000 2,567,600,000 4,853,100,000 4,853,100,000 5,081,700,000 5,081,700,000 5,889,600,000 5,889,600,000 5,810,500,000 5,810,500,000 5,242,000,000 5,242,000,000 4,255,900,000 4,255,900,000 4,592,005,000 4,592,005 3,168,729,000 3,168,729,000 1,713,372,000 1,713,372,000 1,056,277,000 1,056,277,000 267,266,000 267,266 
        non-controlling interests
      4,700,000 4,700,000 4,300,000 4,300,000 6,000,000 6,000,000 5,800,000 5,800,000 4,800,000 4,800,000 2,400,000 2,400,000 4,100,000 4,100,000 3,300,000 3,300,000 3,800,000 3,800,000 2,000,000 2,000,000 1,100,000 1,100,000 6,300,000 6,300,000 6,800,000 6,800,000 6,200,000 6,200,000 4,300,000 4,300,000 7,524,000 7,524 6,606,000 6,606,000 5,016,000 5,016,000 3,841,000 3,841,000 7,189,000 7,189 
        total equity
      4,020,200,000 4,020,200,000 3,901,700,000 3,901,700,000 3,963,900,000 3,963,900,000 4,042,700,000 4,042,700,000 3,930,700,000 3,930,700,000 2,891,500,000 2,891,500,000 2,545,400,000 2,545,400,000 2,458,000,000 2,458,000,000 2,571,400,000 2,571,400,000 4,855,100,000 4,855,100,000 5,082,800,000 5,082,800,000 5,895,900,000 5,895,900,000 5,817,300,000 5,817,300,000 5,248,200,000 5,248,200,000 4,260,200,000 4,260,200,000 4,599,529,000 4,599,529 3,175,335,000 3,175,335,000 1,718,388,000 1,718,388,000 1,060,118,000 1,060,118,000 274,455,000 274,455 
        liabilities
                                              
        lease liabilities
      4,434,900,000 4,434,900,000 4,647,400,000 4,647,400,000 4,539,700,000 4,539,700,000 4,600,600,000 4,600,600,000 4,284,700,000 4,284,700,000 4,000,100,000 4,000,100,000 3,716,800,000 3,716,800,000 3,244,100,000 3,244,100,000 2,952,000,000 2,952,000,000 3,230,400,000 3,230,400,000 2,993,600,000 2,993,600,000 2,778,700,000 2,778,700,000 3,020,000,000 3,020,000,000 2,929,000,000 2,929,000,000 2,784,200,000 2,784,200,000 2,178,676,000 2,178,676 1,766,247,000 1,766,247,000 1,427,773,000 1,427,773,000 1,055,126,000 1,055,126,000 811,840,000 811,840 
        loans and other liabilities
      49,900,000 49,900,000 52,300,000 52,300,000 55,500,000 55,500,000 59,900,000 59,900,000 67,400,000 67,400,000 65,200,000 65,200,000 66,600,000 66,600,000 73,600,000 73,600,000 79,300,000 79,300,000 83,000,000 83,000,000 87,600,000 87,600,000 91,900,000 91,900,000 140,100,000 140,100,000 164,800,000 164,800,000 171,300,000 171,300,000 120,827,000 120,827 126,346,000 126,346,000 130,066,000 130,066,000 440,196,000 440,196,000 519,471,000 519,471 
        employee benefits
      62,200,000 62,200,000 60,900,000 60,900,000 55,200,000 55,200,000 47,500,000 47,500,000 43,400,000 43,400,000 42,500,000 42,500,000 45,400,000 45,400,000 46,100,000 46,100,000 39,400,000 39,400,000 42,400,000 42,400,000 42,800,000 42,800,000 45,200,000 45,200,000 45,000,000 45,000,000 50,000,000 50,000,000 57,100,000 57,100,000 65,592,000 65,592 63,612,000 63,612,000 64,105,000 64,105,000 63,198,000 63,198,000 66,626,000 66,626 
        deferred tax liabilities
      174,000,000 174,000,000 130,900,000 130,900,000 83,600,000 83,600,000 27,600,000 27,600,000 5,200,000 5,200,000 5,700,000 5,700,000 5,800,000 5,800,000 6,100,000 6,100,000 13,000,000 13,000,000 79,000,000 79,000,000 145,400,000 145,400,000 151,400,000 151,400,000 139,400,000 139,400,000 133,800,000 133,800,000 122,600,000 122,600,000 120,619,000 120,619 85,947,000 85,947,000 42,491,000 42,491,000 34,159,000 34,159,000 339,000 339 
        total non-current liabilities
      4,721,000,000 4,721,000,000 4,891,500,000 4,891,500,000 4,734,000,000 4,734,000,000 4,735,600,000 4,735,600,000 4,400,700,000 4,400,700,000 4,113,500,000 4,113,500,000 3,834,600,000 3,834,600,000 3,369,900,000 3,369,900,000 3,083,700,000 3,083,700,000 3,434,800,000 3,434,800,000 3,269,400,000 3,269,400,000 3,067,200,000 3,067,200,000 3,344,500,000 3,344,500,000 3,277,600,000 3,277,600,000 3,135,200,000 3,135,200,000 2,485,714,000 2,485,714 2,042,152,000 2,042,152,000 1,664,435,000 1,664,435,000 1,592,679,000 1,592,679,000 1,398,276,000 1,398,276 
        trade and other payables
      609,600,000 609,600,000 641,700,000 641,700,000 1,137,800,000 1,137,800,000 736,200,000 736,200,000 668,300,000 668,300,000 610,300,000 610,300,000 612,200,000 612,200,000 566,400,000 566,400,000 554,600,000 554,600,000 561,800,000 561,800,000 1,359,800,000 1,359,800,000 896,200,000 896,200,000 846,600,000 846,600,000 901,300,000 901,300,000 2,946,200,000 2,946,200,000 1,086,214,000 1,086,214 1,052,310,000 1,052,310,000 944,776,000 944,776,000 538,717,000 538,717,000 398,876,000 398,876 
        provisions
      108,800,000 108,800,000 93,600,000 93,600,000 85,400,000 85,400,000 96,600,000 96,600,000 93,000,000 93,000,000 87,900,000 87,900,000 63,600,000 63,600,000 60,700,000 60,700,000 58,300,000 58,300,000 53,400,000 53,400,000 51,600,000 51,600,000 50,200,000 50,200,000 51,600,000 51,600,000 30,800,000 30,800,000 31,600,000 31,600,000 28,333,000 28,333 29,044,000 29,044,000 28,189,000 28,189,000 25,631,000 25,631,000 21,420,000 21,420 
        contract liabilities
      239,200,000 239,200,000 353,700,000 353,700,000 287,700,000 287,700,000 408,900,000 408,900,000 433,800,000 433,800,000 475,100,000 475,100,000 292,900,000 292,900,000 198,100,000 198,100,000 207,300,000 207,300,000 208,400,000 208,400,000 195,700,000 195,700,000 238,900,000 238,900,000 410,100,000 410,100,000 577,500,000 577,500,000 596,600,000 596,600,000 618,342,000 618,342 636,001,000 636,001,000 453,045,000 453,045,000 295,653,000 295,653,000 230,469,000 230,469 
        total current liabilities
      2,133,200,000 2,133,200,000 2,304,500,000 2,304,500,000 2,793,800,000 2,793,800,000 2,611,200,000 2,611,200,000 2,687,100,000 2,687,100,000 2,703,400,000 2,703,400,000 2,551,600,000 2,551,600,000 2,518,100,000 2,518,100,000 2,536,300,000 2,536,300,000 2,393,700,000 2,393,700,000 3,179,800,000 3,179,800,000 2,662,200,000 2,662,200,000 2,832,800,000 2,832,800,000 2,966,700,000 2,966,700,000 4,927,600,000 4,927,600,000 2,756,595,000 2,756,595 2,624,951,000 2,624,951,000 2,219,675,000 2,219,675,000 1,505,852,000 1,505,852,000 1,151,510,000 1,151,510 
        total liabilities
      6,854,200,000 6,854,200,000 7,196,000,000 7,196,000,000 7,527,800,000 7,527,800,000 7,346,800,000 7,346,800,000 7,087,800,000 7,087,800,000 6,816,900,000 6,816,900,000 6,386,200,000 6,386,200,000 5,888,000,000 5,888,000,000 5,620,000,000 5,620,000,000 5,828,500,000 5,828,500,000 6,449,200,000 6,449,200,000 5,729,400,000 5,729,400,000 6,177,300,000 6,177,300,000 6,244,300,000 6,244,300,000 8,062,800,000 8,062,800,000 5,242,309,000 5,242,309 4,667,103,000 4,667,103,000 3,884,110,000 3,884,110,000 3,098,531,000 3,098,531,000 2,549,786,000 2,549,786 
        total equity and liabilities
      10,874,400,000 10,874,400,000 11,097,700,000 11,097,700,000 11,491,700,000 11,491,700,000 11,389,500,000 11,389,500,000 11,018,500,000 11,018,500,000 9,708,400,000 9,708,400,000 8,931,600,000 8,931,600,000 8,346,000,000 8,346,000,000 8,191,400,000 8,191,400,000 10,683,600,000 10,683,600,000 11,532,000,000 11,532,000,000 11,625,300,000 11,625,300,000 11,994,600,000 11,994,600,000 11,492,500,000 11,492,500,000 12,323,000,000 12,323,000,000 9,841,838,000 9,841,838 7,842,438,000 7,842,438,000 5,602,498,000 5,602,498,000 4,158,649,000 4,158,649,000 2,824,241,000 2,824,241 
        ​
                                              
        assets classified as held for sale
                                              
        accumulated deficit
                                        -279,523,000 -279,523,000 -936,101,000 -936,101,000 -1,523,528,000 -1,523,528 
        issued capital
                                            88,000 88 
        capital reserves
                                            1,790,706,000 1,790,706 
      Cashflow Statements:
      Quarterly
      Annual
        Unit: USD 
         
          cash flows from operating activities
         
          profit for the period
         
          adjustments for:
         
          depreciation and amortization
         
          net finance expenses
         
          share of profit and change in fair value of investees
         
          capital gain
         
          income taxes
         
          other non-cash items
         
          change in inventories
         
          change in trade and other receivables
         
          change in trade and other payables including contract liabilities
         
          change in provisions and employee benefits
         
          dividends received from associates
         
          interest received
         
          income taxes paid
         
          net cash generated from operating activities
         
          cash flows from investing activities
         
          proceeds from sale of tangible assets, intangible assets, and interest in investees
         
          acquisition and capitalized expenditures of tangible assets, intangible assets and interest in investees
         
          disposal (acquisition) of investment instruments
         
          loans granted to investees
         
          change in other receivables
         
          change in other investments (mainly deposits)
         
          net cash generated from investing activities
         
          cash flows from financing activities
         
          repayment of lease liabilities and borrowings
         
          change in short term loans
         
          dividend paid to non-controlling interests
         
          dividend paid to owners of the company
         
          interest paid
         
          net cash from financing activities
         
          net change in cash and cash equivalents
         
          cash and cash equivalents at beginning of the period
         
          effect of exchange rate fluctuation on cash held
         
          cash and cash equivalents at the end of the period
         
          income from voyages and related services
         
          cost of voyages and related services:
         
          operating expenses and cost of services
         
          depreciation
         
          gross profit
         
          other operating income
         
          other operating expenses
         
          general and administrative expenses
         
          share of loss of associates
         
          results from operating activities
         
          finance income
         
          finance expenses
         
          profit before income taxes
         
          attributable to:
         
          owners of the company
         
          non-controlling interests
         
          earnings per share
         
          basic earnings per 1 ordinary share
         
          diluted earnings per 1 ordinary share
         
          weighted-average number of shares for earnings per share calculation:
         
          basic
         
          diluted
         
          consolidated statements of cash flows
         
          net cash generated from (used in) investing activities
         
          share of losses and change in fair value of investees
         
          income taxes received
         
          disposal of investment instruments
         
          change in trade and other payables, including contract liabilities
         
          share in loss of associates
         
          profit for the year
         
          impairment loss
         
          share of profits (losses) and change in fair value of investees
         
          capital gains
         
          proceeds from sale of tangible assets, intangible assets and interest in investees
         
          acquisition of investment instruments
         
          change in short-term loans
         
          cash and cash equivalents at beginning of the year
         
          cash and cash equivalents at the end of the year
         
          share of losses (profits) and change in fair value of
         
          proceeds from sale of tangible assets, intangible assets and
         
          interest in investees
         
          acquisition and capitalized expenditures of tangible assets,
         
          intangible assets and interest in investees
         
          receipt of long-term loans and other
         
          long-term liabilities
         
          capital loss
         
          change in trade and other payables including contract
         
          liabilities
         
          proceeds from sale of tangible assets, intangible assets,
         
          and interest in investees
         
          proceeds from sale (acquisition) of investment
         
          instruments
         
          assets
         
          vessels
         
          containers and handling equipment
         
          other tangible assets
         
          intangible assets
         
          investments in associates
         
          other investments
         
          other receivables
         
          deferred tax assets
         
          total non-current assets
         
          inventories
         
          trade and other receivables
         
          cash and cash equivalents
         
          total current assets
         
          total assets
         
          equity
         
          share capital and reserves
         
          retained earnings
         
          equity attributable to owners of the company
         
          total equity
         
          lease liabilities
         
          loans and other liabilities
         
          employee benefits
         
          deferred tax liabilities
         
          total non-current liabilities
         
          trade and other payables
         
          provisions
         
          contract liabilities
         
          total current liabilities
         
          total liabilities
         
          total equity and liabilities
         
          proceeds from sale (acquisition) of investment instruments
         
          cost of voyages and related services
         
          impairment of assets
         
          earnings
         
          net debt1
         
          receipt of long-term loans and other long-term liabilities
         
          issuance of share capital, net of issuance costs
         
          change in trade and other payables, including contract
         
          dividends received
         
          share of profits and change in fair value of investees
         
          change in trade and other payables including contracts liabilities
         
          net cash from investing activities
         
          impairment loss (recovery) in respect of tangible assets
         
          sale and lease back transactions
         
          proceeds from sale of tangible assets, intangible assets
         
          acquisition of tangible assets, intangible assets and
         
          interest and other financial expenses paid
         
          change in trade and other payables including
         
          contracts liabilities
         
          acquisition of tangible assets, intangible assets and interest
         
          in investees
         
          proceeds from sale of tangible assets, intangible assets, investments and affiliates
         
          acquisition of tangible assets, intangible assets and interest in investees
         
          repayment of borrowings and lease liabilities
         
          share of profit of associates
         
          weighted-average number of shares for eps calculation
         
          carried volume
         
          average freight rate
         
          revenue
         
          operating income
         
          profit before income tax
         
          net income
         
          adjusted ebitda1
         
          adjusted ebit1
         
          adjusted ebitda margin
         
          adjusted ebit margin
         
          diluted eps
         
          free cash flow1
         
          net debt
         
          change in trade receivables and other receivables
         
          other financial expenses paid
         
          ​
         
          assets classified as held for sale
         
          impairment losses (recoveries) of tangible assets
         
          proceeds from sale of tangible and intangible assets, investments and affiliates
         
          acquisition of tangible assets, intangible assets and investments
         
          change in other investments and other receivables
         
          impairment recovery in respect of tangible assets
         
          accumulated deficit
         
          proceeds from sale of tangible assets, intangible assets and investments
         
          adjusted ebitda
         
          adjusted ebit
         
          free cash flow ( in millions)5
         
          ·
         
          adjusted ebitda ) in millions)
         
          free cash flow
         
          issued capital
         
          capital reserves
         
          “vessel sharing agreement”
         
          “2m alliance”